I spoke to CaptainHook and we have a plan to release 50 000 iCoin a month for promotions, excluding other services that the community decide to add for a reward.
CaptainHook is a quite a paranoid character and says if we give massive promotion straight away it will only benefit a few that know about iCoin, so as the coin
grows more promotions will come.
I understand your fears, I had the same reservations about the premine, Perhaps we need to learn how the Ripple, NXT and second generation coins convince
the community that a 100% premine isn't a bad thing and that it's being done for the right reasons.
Just something to add, if Captainhook ever decides to dump out I will personally be buying up iCoin, this way the power switches into my hands or whoever buys up coins
at these low prices. cointopic and I are here to stay whether or not CaptainHook ends up being a dirty player. We don't need him to continue with the coin BUT
I honestly don't believe this is what he wants, he has delivered on every single bounty,service,rewards and told me he doesn't care if the coin takes 7 months to
take off. Does this sound like a desperate person to you for money?
I will make sure everything gets dealt with as fairly as possible, I have a good reputation here and I plan to keep it that way.
For more transparency I have bought up over 16 000 iCoin between both exchanges at 10% of what I think they worth currently.
I appreciate your comment and you sound like you genuinely have the future of the coin in mind.
(Note from now on when I say 'you' / 'your', I mean the whole dev team and or the founder)
I hate to be the negative one again, but seven months is a hell of a long time in the crypto currency world. Giving away 50k coins per month is a good start but let me show you why it's still a worry to me and other miners.
The following table assumes that the 50k a month is essentially given to the miners/community. It also takes into account rough block reward halving dates.
http://i62.tinypic.com/sfjc6g.jpgNow in theory, for a coin that is supposed to last decades this isn't a problem, but it just so happens that this large premine and slow release is also the perfect set up for something dodgy. Remember, it only has to last long enough to get onto an exchange for a scam to be pulled off and how long is that? one month? two? still 50% territory. I think we would all feel a lot better if the Dev distributed the coins to the whole team so that no one person can ruin everything OR the give-aways are sped up big time. Whatever it takes to distribute those coins sooner rather than later. The fact that there were no plans to even spend a satoshi of the premine on promotions until the community kicked up a stink isn't a good sign. I feel like a jerk saying this but really, get your act together guys. Make a plan, make it public and then stick to it. The world won't wait for iCoin, you guys have to catch up or be left behind with the other ten thousand coins that didn't make it.
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