Wow looking at this I see a lot of premining... Looks like up to block 8000 was done in the first 2 day before it was publicly released. We are not even up to block 15000 2 weeks later now. Someone got rich....
PS
How can you tell from that chart there was a premine?
for a currency in the works for almost a year, that would be a disaster...
He was counting time backward and made a couple small errors is my bet, there was no "premine" before release, only a beta period that had it's blockchain reset.
Here's my science inspired thought for the day, it might help some folks get it:
Blockchain Relativity:Just as there is Relativity in the motion of objects in space, there is a relation between the
average length of time needed to find a block (
L), actual network hashing power (
H), and current difficulty (
D). (L0 is the desired or original average lenght of time, ^ is exponent, the equation is modeled after Lorenz Contraction
http://en.wikipedia.org/wiki/Length_contraction if it looks weird that is why)
L = L0/(H/(D*2^32/600))
This means that if block solving time (on average) is unknown, difficulty is 2, and the network hashrate is 28Mhs your effective time
L is going to be 10/(28M/(2*2^32/600)=~5.1 minutes.
I like thinking about this like relativity, because neither clock is wrong for it's own purpose, but they are running at different rates.
FYI, PPC is at 15M coins and has a similar fast ramp you can look at. It's different denominator in the bottom fraction (D^4) and since PoS started it got WAY more complex, but the general result was the same.
