Great question. We think the idea of giving away coins to random/all residents of a particular country is flawed for several reasons.
1. Most residents won't be interested;
2. Many of those that are interested will probably dump the coins as quickly as possible and therefore reducing the value of the coin;
3. The logistics and cost of giving away millions of coins is beyond the resources of most developers and therefore difficult to genuinely believe.
We only intend to give students of our workshops coins because many will be genuinely interested in them, and they will tell others about them which will help spread the word about crypto-currencies.
Any premine will be as little as possible but we have not crunched the numbers yet.
Are you from the UK?
I take it there will be a premine as you will be giving away some UK coins at the free crypto-workshops. How big will the premine be? Will there be any other premined coins available for UK residents who can prove their identify? (like Auroracoin or Spaincoin).
I love that you acknowledged this fact about territory-based coins! For SpainCoin, UkraineCoin etc to be effectively distributed to every citizen, it would take about 30 years given their current teams. Ridiculous.
Having said this, I sincerely hope you will keep the premine to a bare minimum, < 1%. However, if you decide to have no premine you would have the benefit of goodwill PR. You guys must have mining rigs if you are enthusiasts, you
could decide to mine on the same terms as the rest of us. This is something you could boast throughout your conventions etc - you're handing out coins that aren't premined, but actually mined by yourselves. That shows dedication and I think you would gain traction pretty fast. You'd have people lining up to help you out with everything. I mean, just look at BlackCoin and where it has gone in just a month using no premine.
Anyway, I will be mining this as long as the premine isn't too big. Nice to see people doing things IRL to whip up public recognition of cryptos!
