Am I the only one shocked by the 1% premine?
500 000 000 premine, wtf???
I think considering several of the established coins have 90% premines that 1% is quite reasonable.
that and its a transparent premine, yes its 1%, 500 000 000 premine. devs are being very generous with community support and giveaways, and that premine will be used to support the coin.
I am sure that almost every coin has some premine or instamine, that does not preclude the possibility of being a successful coin, and it doesn't mean its a scam. I believe in 1 year the premine will amount to ~4% of total coins. and in the meanwhile, some of it is being used to grow the community and improve the forward facing image, as discussed in post above.
its important there is coins available to encourage development and promote the coin, I think that we don't have to worry about it so much with GRA, I think slow steady growth and long term is the prospect for grain. devs wont dump their coins on the market, they will grow the coin for the long term and make even more profit.
Thanks Jollyburner.
Regarding premine: 1% is a very reasonable amount. There are so many so called "zero-premine" coins, where I am sure still instamined by the devs (some released with a few thousands blocks mined), got no support after they are released. They don't have funding for giveaways, bounties, promotions, etc.
If you prefer this kind of coins, go ahead and mine them. On the the hand, the Grain team took some coins as their incentives, also distributed and will continue to distribute a lot to the community, as we all should have incentives and make the coin better, that's the purpose of giveaways/bounties. If a coin goes nowhere then it doesn't matter how much you have it. Some people just want to get more, and don't want to work, there's no such things there.
Honeypot has very good suggestions on the promotion. I agree with him. The Grain Team is trying to do the best they can, but we need you to help and do promotions. I will distribute bounties to those who are willing to promote at twitter, facebook, reddit etc. We are the same community, and please take your initiatives and help to let people understand what is the Grain.