170 Million premine in block 1 is 50% of what currently is in circulation. At current rate premine is over $6 million.
Goodluck.
If I remember correctly the premine was originally supposed to be for distributing directly to the Dutch people, as it was launched amidst a sea other country shitcoins, with auroracoin being the most spectacular success/failure. Then at some point the dev(s) decided they would just cancel the airdrop and use the funds for "development". Now you're just running on pure trust that they won't change their mind(s) again and decide to use it just to line their pockets at some point. That's nice they have some get togethers with like 20 people, maybe they provide coffee and cookies, and it's nice that you trust them not to dump the premine, but I don't think it's unreasonable for people to not trust the dev(s) not to dump 50% of the available supply of what is nominally supposed to be a decentralized currency. Afaik there's no laws or regulations preventing it, it's just based completely on trust in what is supposed to be a trustless system.
The reality here is that none of the people bitching about the premine would have invested in the coin, EVER!!!!!, it's an excuse to make themselves feel better for missing out and deep down inside they want this project to fail. This is closer to the truth, right Mr jwinterm ?