Just a question | Bitcointalksearch.org

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: BillyBobZorton on October 13, 2014, 11:44:09 AM

Some coins like BITS make a good use for the giveaway specially if its documented, it can be used for charity giveaways and coders, not a bad thing.

Sadly its hard to trust a lot of coins you have no idea if it goes to devlopment or if they will get ride of it if they make it on a exchange.

Best thing to do is launch it at a certain time, and make it open for everyone. Look at how litecoin launched that is a good example of a fair launch.

Spamela Anderson

newbie

Activity: 51

Merit: 0

It's bad because devs do it just so they can get rich quick. It gives them an unfair advantage.

yatsey87

hero member

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Quote from: mezmerizer9 on October 13, 2014, 10:15:17 AM

I've never understood what premining actually does and how it affects the coin. I know it's bad but what it really does? Cheesy

It's like printing your own money, which goes against the spirit of crypto. It essentially makes it like fiat imo.

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Some coins like BITS make a good use for the giveaway specially if its documented, it can be used for charity giveaways and coders, not a bad thing.

Pony789

hero member

Activity: 882

Merit: 1000

Quote from: cookiemonsterwhat on October 13, 2014, 10:49:48 AM

Its the early adopters you gotta worry about.

Early adopters getting a significant % of coins isn't a problem IMHO as long as the launch has been published in advance.

I mean, quite a number of bitcoin early adopters have (or had) a good amount of bitcoin in their hands, but is bitcoin premined? Nope. Grin

cookiemonsterwhat

sr. member

Activity: 252

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Its the early adopters you gotta worry about.

Pony789

hero member

Activity: 882

Merit: 1000

Quote from: mezmerizer9 on October 13, 2014, 10:15:17 AM

I've never understood what premining actually does and how it affects the coin. I know it's bad but what it really does? Cheesy

In simple words, "premining" means the developers mined a certain % of coins before launching the coin to the public. Those premined coins may be used for giveaway, bounty, or the developers just want to get rich when the coin is listed in an exchange.

mezmerizer9

hero member

Activity: 782

Merit: 1000

I've never understood what premining actually does and how it affects the coin. I know it's bad but what it really does? Cheesy

Topic: Just a question (Read 974 times)