Some premine coins:
- Pandacoin PANDA 3% premine that is 90% of total mined coins. Sold 1% for 250 BTC IPO.
- Ultracoin UTC 50% premine, currently accounted for 95% of mined coins. Sold over 100 BTC IPO.
- iCoin ICN 1% premine. No IPO yet.
If you don't like premine, don't invest in it. No one forces you to buy or mine iCoin. Don't post silly comments.
If i could buy 30-50% from that Premine, i would pump it 10x or more from current price with around 150 BTC to spend.
The problem doesn't come from Captainhook nor source code, it's already good, very fast sync,working stable and nice graphic.
The problem is Devs have no money to pump it. Check Pandacoin, they use 250 BTC from IPO to pump it and net hash is growing amazing.
Stop blaming about premine or someone, come up with IPO plan and anyone can invest in iCoin.
I like iCoin, I mined iCoin, I bought some more iCoin and I will hold my iCoins. This coin could have a great potential.
The change to KGW at this early stage of the coin is a good decision. It´s a really great news.
I don´t have a problem with a 1% pre-mine, if the dev is working for it and have a long term concept. The iCoin dev looks like they have a concept.
5.000.000 coins = 500.000 blocks x 3 minutes = 104 days of mining. That´s a lot and I can understand, why some people are thinking, that it seems to be a little bit greedy.
The first reward halving will be after 250 days. At the end of this first stage there will be 17.800.000 million coins. At (only) 5.000 satoshi this will be worth 890 BTC = $580.000. With a
good marketing and some luck 50.000 satishi or even much more could be possible.
The new logo and the new website are some good steps. I although believe that we could have success in the market with this great name. This name is worth a lot.
To build up more trust at the community it could be a good thing for the dev to be very transparent. At this stage the community will be the tipping point. I would recommend to make the dev coin addresses visible at the OP and to make a list with all spendings and bounties. Nobody is working for nothing, but tell the people a little bit more how you will spend some of your coins for the success of iCoin. After this the people will see, why you need a pre-mine.
Edit:
If we have to make a hard fork, it could be a good thing to think about some more changes to make iCoin more unique. Maybe a feature like NeoCoin (users can send instant messages with encryption within the client to another clients wallet) or a coin mixer or...
In my opinion the block time should be < LTC. I would like a block time < 1 Minute. LPC for example has a block time of 15 sec. and it´s working nice.