Why do you have to know EVERY little detail of what the premine is used for? At most, it's like 7.5mil coins. Even if they didn't use it for what they said they were wanting to and just kept it to dump, there's gonna be 150mil coins distributed between the community. I don't think it would put much of a dent in anything really, especially since there's an enticement to hold onto your coins to try and get the other 80% of the total coins lol
I'm sticking to my edit above, but I'm compelled to answer this question because it -may- actually lead to an intelligent discussion. At best, answering this question will clear up some confusion about my intent.
I don't have to know every little detail of what the premine is used for. In fact, no one does. However, having a premine with no justification is an indication of a coin intended for massive scamdumping. Since you yourself mentioned that the possibility of the dev scamdumping the premine exists, then we are actually on the same wavelength. That was my only point. Everyone just started jumping on me because questioning a coin that they already mined millions of may put a dent on the scamdumping profit that they are expecting to make. I don't care if this coin was made by and is primarily supported by scamdumpers -- just don't pretend that it's some magnificent marvel of a cryptocoin that will permeate the real-world markets and that every person who states a valid concern is someone spreading FUD.
I agree that the devs COULD use the premine to dump on the first or second exchange it hits, but I honestly don't think they will. They said that they're gonna use it for development and faucets and stuff like that, and until they do otherwise, I have no reason not to believe them. I'm not saying that it's the cryptocoin to end all other cryptocoins either, but they have brought an interesting way to mine the coins forward. I mean, you mine 20% and the other 80% you get from holding your coins, that's a really awesome idea in my book and I haven't seen any other coins doing that. And I believe that you can be damn certain that even if they did sell those coins, the whales of this coin are gonna pick them up just to bring the price that much higher and sell them back then. I know I would, in a heart beat lol
You might be the only intelligent supporter of this coin that I've heard from so far. I've heard your point of view and you've heard mine. We might not agree on our views regarding how to approach the lack of information regarding the details of the premine, but you still tried to understand what I was trying to convey and shared your opinion civilly.
Pay no attention to that troll relnarien ... If you go look at all of his posts on other threads it's all the same shit. He/she has nothing positive to give to the community so don't bother feeding the troll. In that trolls eyes if you mine coins and then decide your going to sell them your a "scamdumper" which I don't quite understand because how can a coin have a value if no one is trading it?!? Lol
This is funny because I checked your posts as well. Whereas I tried as best as I can to add relevant content to all of my posts, a good number of your posts are just various renditions of "+1," "I like," and essentially filler posts.