Premine will be used up early 2019 if they continue to spend 7 million coins every 2 months. Waiting for March and April numbers to be added to confirm the trend.
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The premine has always been accounted for on every single spend, per
https://developer.gulden.com/premine/.
Would you be so kind to enlighten, regarding 7 million coins every 2 month?
I am not questioning the premine usage, I am trying to determine the velocity in which the premine is being spent compared to previous years. 7 million was spent in Jan and Feb this year and my theory about the premine is that it will be spent faster this year then in 2014 and 2015. It also helps explain the price pressure on bittrex, more supply with the same amount of users will naturally equate to a lower price.
Well, a shrinking premine is a good thing in my opinion. Though I highly doubt it is accountable for the price pressure. Like Bluestreet already noted, a vast majority of the spends in the first 2 months were due to the funding of project Prime, which ended up to those whom invested in the project. To my knowledge, nearly all of those investors are long term holders.
From the moment I joined Gulden about a year ago, I have always seen the price under pressure. Though, I have also seen it climb steadily from a +/- 300 sat towards a 400/450+, including a block reward reduction in between of -90% (going from 1.000 to 100). So in my opinion, Gulden is doing pretty good
The price pressure, is far more likely coming from (profit switching) pools and/or unknown identities (
http://www.nlgstats.nl/). The addresses yielding, are not traced back in the rich list; so, likely, at least a good deal of those yielded NLG's, are being (insta)dumped on the markets, which could also perfectly explain any price pressures
