Pre-mined alt coins - page 2. | Bitcointalksearch.org

superresistant

legendary

Activity: 2156

Merit: 1131

Quote from: MisO69 on January 31, 2014, 10:50:42 AM

I invested my money in mining equipment so I'm all for PoW. The NXT and others where you need to buy in do not interest me. These are elitist coins and only people with money can come out winning. Kinda like what we already have with fiat.

You don't want to pay for coins so you bought mining equipment ?

Oh wait...

MisO69

legendary

Activity: 1946

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My mule don't like people laughing

I invested my money in mining equipment so I'm all for PoW. The NXT and others where you need to buy in do not interest me. These are elitist coins and only people with money can come out winning. Kinda like what we already have with fiat.

coinrevo

member

Activity: 70

Merit: 10

Quote from: superresistant on January 31, 2014, 10:37:01 AM

You cannot pre-mine something that you cannot mine. Sorry, your opinion is flawed.
You should understand the concept of Proof-of-Stake before talking about it.

You probably misunderstood what I was saying or I wasn't very clear. there are many different models. some are hybrid between PoS and PoW, some pure PoS, etc. Whatever you think about Quark and others, at least there is supply and demand on a market. as long as there is a market people can buy & sell at roughly fair prices (the current view of the value). although there are some issues like insider trading and a couple of other distortion tactics.

What I'm saying is that there shouldn't be large fundraisers. because that only leads to creation of hype and launch at an IPO distorting the price.

knightcoin

full member

Activity: 238

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Stand on the shoulders of giants

Quote from: coinrevo on January 31, 2014, 10:28:00 AM

what's your definition of pre-mine exactly? IPO is similar to pre-mine. ripple is "pre-mined"/infinitely inflatable. I think alt-coins asking for funding are worse than pre-mine. I'm not sure exactly how protoshares was able to change from PoW to PoS.

Pre-mine in straightforward sense; coins are already mined and the only way to get it is buying it from original miners (or whatever the name you want to call it). But your analogy regards IPO was a good one... Its also reminds me that I believe it is fair to reward the early investors/adopters, but also reminds me that some IPO contracts can tell that early adopters must to sell (lets say, 20% of their stack ) after certain period of the time.. like stock pre-schedule sell off contracts ... the analogy is like patents contracts where you hold a patent for certain period of time then it is available to public domain ...

Bansheroom

sr. member

Activity: 434

Merit: 250

Quote from: ChekaZ on January 31, 2014, 10:22:13 AM

In my opinion NXT is a completely scam, same with Quark.

same feeling here, just add ripple and all the new NXT-Clones

superresistant

legendary

Activity: 2156

Merit: 1131

You cannot pre-mine something that you cannot mine. Sorry, your opinion is flawed.
You should understand the concept of Proof-of-Stake before talking about it.

Unfortunately, the brain is not used any more on bitcointalk these days.

coinrevo

member

Activity: 70

Merit: 10

simply answer because it works for the founders, as long as "community" (whatever that is), comes up with mechanism to show them the opposite. as I said IPO is worse than pre-mine as its moving a lot of BTC right away and there is no market price. this should really stopped or heavily restricted. people asking for xxx million dollars from the community will put a heavy burden on it, as it gives alt-coins a bad name.

Quark is not traded at a stable 20M$, but the amount going over the counter is small. which is a lot different than raising 20M$ in advance, as people pay in advance without a market price. I don't know how much mastercoin got and how that is going. there is no way to track it. marketprice went down 50% since IPO, but at least there is a market.

coinrevo

member

Activity: 70

Merit: 10

what's your definition of pre-mine exactly? IPO is similar to pre-mine. ripple is "pre-mined"/infinitely inflatable. I think alt-coins asking for funding are worse than pre-mine, because skewing the market by bullying.

ChekaZ

legendary

Activity: 1884

Merit: 1005

In my opinion NXT is a completely scam, same with Quark.

Vivisector999

hero member

Activity: 541

Merit: 500

All depends. If the dev pre-mines a small portion, and is seen actively using it to promote the coin, ect ect. Then sure. In the case of Stablecoin's pre-mine for the coin washing process he is working on sure.

But if I see out of the gate the dev disappears, or is keeping that pre-mine to himself, then I drop it quickly. In Stablecoin's case, I dropped a week or so after the dev went AWOL. It seems he has come back, but I haven't gone back there yet. Maybe when all the dust is settled over there again.

And speaking of pre-mines. In the case of Marinecoin, where 97.2% is premined, and the remaining 2.8% is mined at equal rate over next 1000 years, so that the dev can purchase a $15 billion dollar city, and rent out yachts to it's investors, I have to give a big NO

knightcoin

full member

Activity: 238

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Stand on the shoulders of giants

Thanks for your vote, opinion.

Topic: Pre-mined alt coins - page 2. (Read 1956 times)