Lol so prickly. What is the argument for not just keeping 1:1 swap open for an indefinite or years long period?
Also, I wish I lived under a rock - bat cave living sounds pretty nice, probably save a bundle on heating and cooling costs.
Anyway, 20% premine is pretty bold move. You can say what you want about Monero, but they have managed to retain the top spot among privacy coins without any premine. Zcash has an effective 10% premine, maybe 13-18% depending how you weight their taking 20% in first four years. This isn't 2014 and I understand premines have become somewhat more acceptable in the age of ICO-scams and its aftermath, but I think there is probably a strong overlap between folks interested in privacy coins and those interested in a fair launch. Maybe I'm wrong, we shall see.
Hi jwinterm!
First of all - thank you for your interest to my work!
Regarding premine just want to mention - you never know how the current leader of Monero would launch this project(if he had a chance), because as you know Monero was not launched by him.
I mean - it was given without premine, and it was taken "as is" - with the running network, with the cryptography, with codebase, with the privacy philosophy.
So, I wouldn't put this as good an example for comparing.
Given that Monero was always seen as Boolberry's closest "competitor" or whatever, I think it's the most apt comparison, especially since this appears to be Boolberry_v2. What do you see as the more appropriate comparison?
Anyway, I just think 20% is a lot, especially since I assume that 20% could then be compounded via staking, but I guess if you're going to do a premine you might as well not do it half-assed.
Yeah i dont think he meant techwise thou, i believe he meant from a logistics perspective. Zano team worked for about 2 years over this code base, while monero inherited a tech that was already developped by another group. Also to me the percentage aint THAT important, its important based on what it represent. Lets compare a 10% of a coin that launch at a 50M$ and a 20% over another coin that launch at 5M$. From a sustainable perspective, team needs a % high enough to cover operation cost based on some hypothethical short/middle term valuation.
I mean if team knew this would worth 50M$ in 6 months from now, im sure they wouldnt need 20% (10M$), its all about short/middle term valuation. Aim to low you gonna starve aim to high you gonna afraid investors and could also break trust if valuation is high and premine % is too high. I see it as a safe bet and im sure team could reconsider if this easily cover operation costs...
For me what is really wrong is a 4 team member project raising 10M$ at launch of mainnet, cought veriblock...
Unless they wanted to last 15 years over that pile of cash!