What is the point of a public premine, how is it any different from get starting up the miners normally? Why are we doing this?
Public premine means that: You are mining shares of the premined coins this is a lot more profitable than mining the coin itself after it is launched. The less people join the public premine, the more coins you will get on launch.But same goes to the launch, less people mining it, more coins you will get.
It is just setting a fixed percentage of the total coin can be mined during some specific period of time, i.e. the "public premine" period. And it is EXACTLY THE SAME AS USUAL MINING: FIXED AVERAGE BLOCK TIME WITH AVERAGE BLOCK REWARD, which means for a fixed period of time, only a fixed number of blocks are produced, thus a fixed/averaged total coins produced (say counting 10% of the total maximum coins). And HOW MUCH YOU WILL GET IS BASED ON YOUR HASH/NET HASH, i.e your shares relative the net hash.
AND you are forcing people to use your own pool for this "public premine". Do you charge fees?
??People whoever did the "public premine" will most likely dump them as soon as an exchange becomes available. And destroying the price.
But you don't really care, correct? Because you already got the 10% IPO BTC.
So you think you can just create something that is different("public premine"), which really has nothing to do with advantages, and people will just forget about 10% IPO and go nuts about this "public premine"
