High premines - what is your opinion about them?

coinswebid

sr. member

Activity: 1092

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Quote from: SBDomains on January 06, 2019, 06:01:07 AM

Hello. I was wondering, what is your opinion about high premines? I'm thinking to launch a new coin, with a really, really high premine, like 90% - would that be a problem to you or not?

Personally I was really skeptical about high premines earlier, but after I've had my own first project - I have learned my mistakes. Never do a coin from your own funds unless you're a billionaire.

How would you react to a coin that has 90% premine? Would low supply to miners increase the price of a coin?

are you serious with 90% premine dude ?
i think no one will drop their money to a coins with huge premine my friend
its better to reduce the premine coin and the amount is not more than 5%

Ucy

sr. member

Activity: 2576

Merit: 401

90% premine? That is totally crazy amount. Why would you do that? What would you do with so much premine? Manipulate the coin price. No informed crypto iinvestos would invest in in this coin

[btc]YSG

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Activity: 238

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I do not think it will be beneficial to anyone at all except the developers, it almost like a centralized affair when one party can dictate the price of coin, I would never trust such a project, I'd join a project which is averagely evenly splitted than a project where the developers can dump on investors and make a run for it.

coinplus

legendary

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Quote from: SBDomains on January 06, 2019, 06:01:07 AM

Hello. I was wondering, what is your opinion about high premines? I'm thinking to launch a new coin, with a really, really high premine, like 90% - would that be a problem to you or not?

Personally I was really skeptical about high premines earlier, but after I've had my own first project - I have learned my mistakes. Never do a coin from your own funds unless you're a billionaire.

How would you react to a coin that has 90% premine? Would low supply to miners increase the price of a coin?

Would make no sense at all. I mean look at ripple, they premined everything and managed to grab the second position so just because you are premined doesn't really mean you will be bad and you will be going to zero.

However, if you are going to take ripple as an example you should also know that they have a team of hundreds of people working for them making bank connections all around the world and even got on ellen degeneres show with ashton kutcher giving 4 million dollars worth of ripple to ellen.

It means you can start a premine coin but that means you need to be both patient and also really amazing product to actually make it. Otherwise, no one will give a damn about a coin thats 90% premined, why would anyone invest into something to make the owner rich if they are not getting rich as well? It will certainly be harder to convince people to buy the coin.

Red-Apple

hero member

Activity: 1470

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i believe that in the end it will all come down to the project itself. if it is a good one with some real innovative ideas from a capable developer then it can remain alive in this market and maybe even grow more. but if it is a useless new coin with no innovation and just meaningless changes compared to the project that it forks then having a big premine is like a big nail in its coffin.
but in any case having a premine will always be like a big negative for the project and will reduce its legitimacy. the bigger the premine the bigger the drop.

florac9

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Activity: 280

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Two things are involved ,high premines is not bad for good projects to succeed but we all know its easy for projects with high premine to turn scam ,it just favours the devs more no matter what ,but if the dev is a serious one then high premine is good ,the project will get listed on good exchange too

Zero1One0

full member

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High premine equates to centralization. Unless you plan to airdrop your coins to the community - around 90% of it.
10% will be thru mining or staking. Unless it's an eth token with a fixed supply.

[btc]YSG

jr. member

Activity: 238

Merit: 3

Quote from: SBDomains on January 06, 2019, 09:18:34 AM

Quote from: ?? on ??

I do not think it will be beneficial to anyone at all except the developers, it almost like a centralized affair when one party can dictate the price of coin, I would never trust such a project, I'd join a project which is averagely evenly splitted than a project where the developers can dump on investors and make a run for it.

Dictating the price is not always a bad thing if the main holder is holding coins.

It is actually terrible than you could imagine, we chose cryptocurrency simply we don't have to trust the bank that they have our money, We needed to be sure, then why do we have to trust the team that the will keep holding, I mean shit could go side ways and only member from the team could do the damage.

taguig

copper member

Activity: 479

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Quote from: SBDomains on January 06, 2019, 06:01:07 AM

Hello. I was wondering, what is your opinion about high premines? I'm thinking to launch a new coin, with a really, really high premine, like 90% - would that be a problem to you or not?

Personally I was really skeptical about high premines earlier, but after I've had my own first project - I have learned my mistakes. Never do a coin from your own funds unless you're a billionaire.

How would you react to a coin that has 90% premine? Would low supply to miners increase the price of a coin?

How are you going to gain trust if you will control all of the coins with nothing to give to the community, this is why I don't like airdrops they control the majority of the supply but they do not offer anything to investors and the industry.

diouf67

full member

Activity: 260

Merit: 104

Looking at it from a centralization point of view a high premine is always going to be a negative and raise questions about the project. Is there any reason why you would want or need to have a 90% premine? It's hard to make a definitive judgement without knowing the reasoning behind your proposition.

SBDomains

sr. member

Activity: 630

Merit: 256

Quote from: ?? on ??

I do not think it will be beneficial to anyone at all except the developers, it almost like a centralized affair when one party can dictate the price of coin, I would never trust such a project, I'd join a project which is averagely evenly splitted than a project where the developers can dump on investors and make a run for it.

Dictating the price is not always a bad thing if the main holder is holding coins.

coin-investor

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Activity: 2856

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Leading Crypto Sports Betting & Casino Platform

Nope that's not the way to make it, high premine means you have total control of the coins, if you have a platform or a product then it's a different story, but if it's a coin only with nothing to offer to the table then it's just a waste of time, it will be ignored, investors are wiser now, they have learned a lot from past mistakes.

Debye

newbie

Activity: 40

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Quote from: SBDomains on January 06, 2019, 06:01:07 AM

Hello. I was wondering, what is your opinion about high premines? I'm thinking to launch a new coin, with a really, really high premine, like 90% - would that be a problem to you or not?

Personally I was really skeptical about high premines earlier, but after I've had my own first project - I have learned my mistakes. Never do a coin from your own funds unless you're a billionaire.

How would you react to a coin that has 90% premine? Would low supply to miners increase the price of a coin?

To be honest I wouldn´t invest in a coin where 90% is owned by one person. It simply doesn´t look like a legit investment, because it looks like the coin was created to make the owner rich and not to invent anything new.
The other thing is, that you could influence the price of the coin way too easy.
As for example if you wanted you could just sell your coin for half of the price and still make profit (so the once who bought the 10% would be f..... )

vv181

legendary

Activity: 1932

Merit: 1273

Personally, I'd definitely stay away from those coin since the team controls the majority of the funds I'm sure it will be automatically a centralized coin. That makes no difference between a highly pre-mined coin and a bank.

Quote from: SBDomains on January 06, 2019, 06:19:50 AM

I was thinking to do a coin that is mostly oriented towards generating profit. Let's be honest here - profit is why most of the people are in crypto at all. I don't think that majority cares about technology and that stuff. Majority cares about making profit, you can notice that on any coin's Telegram when some major dump happens.

Indeed it is a sad truth in the cryptocurrency community. Mainstream is mainly seeking for profit instead of utilizing the use case of cryptocurrencies technology.

NakiRR

member

Activity: 574

Merit: 12

Quote from: SBDomains on January 06, 2019, 06:01:07 AM

Hello. I was wondering, what is your opinion about high premines? I'm thinking to launch a new coin, with a really, really high premine, like 90% - would that be a problem to you or not?

Personally I was really skeptical about high premines earlier, but after I've had my own first project - I have learned my mistakes. Never do a coin from your own funds unless you're a billionaire.

How would you react to a coin that has 90% premine? Would low supply to miners increase the price of a coin?

i think we need to know all token metrics and lock-ups to say something, but usually i don't like coins with a high quantity of premined coins, it is very risky to invest and correspondingly the price will not growing and liquidity will not be high.

ereborltc

hero member

Activity: 966

Merit: 500

There are a lot of technical talents who have developed a token, but if you want to run a project and add money to the token, this is the point.

KingDome

jr. member

Activity: 434

Merit: 1

What really is premine is? Im not sure how you can make your own coins. Can you tell me how to make my own coin so i can get a new coins pls?

SBDomains

sr. member

Activity: 630

Merit: 256

Quote from: slaman29 on January 06, 2019, 06:11:10 AM

If it's a coin purely for payments, then it should probably fail. And don't let Ripple's history fool you, they have failed as a payments token, their success has only so far come from their ability to sell their technology. And their price, all artifically pumped.

High premine means you as a developer or founder must hold more control over it, therefore, centralized coin. Miners? They won't be incentivized either. So you have a low security coin, you might as well make it 100% premine.

I was thinking to do a coin that is mostly oriented towards generating profit. Let's be honest here - profit is why most of the people are in crypto at all. I don't think that majority cares about technology and that stuff. Majority cares about making profit, you can notice that on any coin's Telegram when some major dump happens.

On the other hand, I agree with the part about Ripple

slaman29

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If it's a coin purely for payments, then it should probably fail. And don't let Ripple's history fool you, they have failed as a payments token, their success has only so far come from their ability to sell their technology. And their price, all artifically pumped.

High premine means you as a developer or founder must hold more control over it, therefore, centralized coin. Miners? They won't be incentivized either. So you have a low security coin, you might as well make it 100% premine.

SBDomains

sr. member

Activity: 630

Merit: 256

Hello. I was wondering, what is your opinion about high premines? I'm thinking to launch a new coin, with a really, really high premine, like 90% - would that be a problem to you or not?

Personally I was really skeptical about high premines earlier, but after I've had my own first project - I have learned my mistakes. Never do a coin from your own funds unless you're a billionaire.

How would you react to a coin that has 90% premine? Would low supply to miners increase the price of a coin?

Topic: High premines - what is your opinion about them? (Read 183 times)