I think I would take EAC much less seriously if the dev's had no stake in it from day one.
Yes indeed, this is what confuses me about all this dislike of premining - why should people develop something and not get paid? I am happy that the EAC devs have skin in the game, and forsee an excellent future for this currency as a result.
Are you guys
mentally challenged or just
ignorant?
Dev holds approx. 750 000 USD of premined coins in hes hands. He continues to ignore all posts asking what will happen to premined coins. He has not published any plans for it. There has been only one little giveaway.
Do i need to put pieces together for you?
You call that "getting paid" ? As long as he has not set any public plan for over 260 million coins hes holding, i call that "jackpot"
I seem to recall that bit coin was also premined in the beginning as are most cryptos coming onto the market lately.. One may have actually been totally premined (QRK) according to some people around the crypto community ..
I'll address this one last time here, with detail, then you guys can rip it apart 20 ways from Sunday however I will not be responding to any more accusations or hate regarding our structure or operations.
1. Feel free to launch a coin, don't premine it, see how much interest you get, see how much out of pocket you go, see how motivated you can get people, see how adoption goes.
2. Feel free to launch a coin, premine 2% like we did, give out 30-40Million like we did, and spend some actual hardmoney on it before hand. Then go tell everyone including competitors, all your marketing plans with the bounty's and the rest of the premine for over a year with full disclosure, see how far you get. Make it a public open book always updated with every days moves and what/where/how much/who is involved, then when sensitive things happen just put 'sensitive' there see how much scrutiny you get and how many more calls for open audits that will cause.
Better yet, what's stopping me from just hiding 50-100 mil through small fake tasks and bounty's and 40 wallets and a month, or wasting time with audits of audits instead of creating more value and assets.
3. Feel free to continue making accusations, and at the same time, seeing tons of assets perpetuating themselves out of the community for big bounty's to create stuff to make earthcoin more valuable, daily, in big quantities. Funny that, the bounty has become a huge ad budget and the end result of spending it, is more value to all involved.
Frankly we could have easily done 5-10% and probably not gotten much more scrutiny, but we still chose 2% and managed to get the brand this far in a week with a small portion of it (along with simple good business strategies), do you understand how valuable that is? 750k? If you were in our shoe's you'd walk away from this for 750k? Now? Oo
Unfortunately after more talks, we have decided that we will not be disclosing how and what we are spending inventory on other than what you see publicly.
In the last 10-20 tasks that we've bountied, we've reviewed them and more than half have been sensitive. We'd never tell the public, never want competitors to know, or anyone could absolutely stifle our growth and we'd invite others to sabotage us easily or model after us and be just one step behind.
Trust what you see, the 1000's interested, 100's creating assets, the millions already mined and given away, the fact that in order for us to stay motivated yes we want a vested interest otherwise this is just a clients project and I'm just consulting a potential huge operation for free.
I don't expect you guys to read 118 pages but I have already said that the team has money, we aren't hungry for our first big break, we've said NO to investors/funding (easy money) many times for this already, we could have walked away for a nice chunk of money to hand this all over already, we would rather be fishing than doing all nighters with forums, but we see a big great challenge and are enthusiasts of crypto in general. We want to create something real vs a fadcoin.
Discovery is a beautiful thing, been watching coins come and go and marking down all their flaws/challenges/ways we could be better when we launch, and I'm sure people are looking at us the same way for the next batch to come. We're doing things 'right the first time' and while I fully get it, opening the books silences all critics, it's brilliant but extreme and unrealistic for us to expect no big blowbacks from it, further scrutiny, and frankly wasting time to constantly try to justify ourselves.
I appreciate and understand your critique however it's time I finally say something with a bit of firmness and that'll be all from me regarding what/why we did things the way we did. No business out there has an open book on their spending budgets as they happen for sensitive moves with marketing or overall direction. So far the brand has been carefully crafted and every asset is top notch because we're attracting and recruiting the best of the best for stuff and paying accordingly for it or overpaying as the value has already risen a lot now.
Please continue to watch us in action to see more proof of our long term goals. I'm personally dumbfounded at how great the response has been and many could learn a thing or two for their own coin journey by absorbing some of our strategies instead of constantly being focused on a negative 'what if'. Try to think 'what if' this is for real instead of defaulting to scam no matter what explanation you get. Some of these alt's are simply going to make it, just by averaging and probability alone, and by the usual suspects re what makes a good company/project/team run.
Thank you!
(note that P2Pools of the same MH absolutely BLOW regular pools out of the water when set up correctly)
) It's difficult to accept it as payment as there's no where to reference market prices etc or reliably trade. Bounties help with this stage a lot as they help mitigate some of the risk involved in accepting a new coin. (e.g if i accept payment and it ends up being at a slight loss I have a decent stash to compensate myself with). This encourages more services to accept a coin, which helps promote the coin further, as awareness grows and you can spend it on more things. 
