PREMINE - What's happening - page 3.

Gingermod

full member

Activity: 238

Merit: 100

Quote from: Miner232432 on February 26, 2014, 01:04:16 PM

Pre mines are ok

It's IPO's with no proof of concept for coin that needs to be banned

"Hi I make coin, gief me BTC"

That's literally you need to do these days to make BTC, I'm almost tempted to make some bullshit coin myself

premine sucks bruh

Miner232432

full member

Activity: 210

Merit: 100

Pre mines are ok

It's IPO's with no proof of concept for coin that needs to be banned

"Hi I make coin, gief me BTC"

That's literally you need to do these days to make BTC, I'm almost tempted to make some bullshit coin myself

Gingermod

full member

Activity: 238

Merit: 100

Quote from: porcupine87 on February 26, 2014, 12:53:41 PM

Quote from: Gingermod on February 26, 2014, 12:11:48 PM

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

If the coin is just copy and paste, then it might be too much. But if someone sets hundrets of hours into this coin, a premine would be fine. Also in that way: If I have many coins I have an incentive to improve this coin.

All coins are pretty much clones

porcupine87

hero member

Activity: 546

Merit: 500

hm

Quote from: Gingermod on February 26, 2014, 12:11:48 PM

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

If the coin is just copy and paste, then it might be too much. But if someone sets hundrets of hours into this coin, a premine would be fine. Also in that way: If I have many coins I have an incentive to improve this coin.

miningcrew

member

Activity: 117

Merit: 10

My ideal solution would be 0.25 % of every block, but no premine.

So there would be some funds for promotion and marketing (at the beginning), and the developer will stay around - could consider it his private pension fund

.

PS: Furthermore a developer, who believes in his coin does not need any premine.
If he wants to earn, he rents mining equipment for - lets say 10 for BTC - sets up a cron job 1 second after launch and he will "earn" a lot of coins - because he has "insider knowledge" - but that requires some initial investment.

gielbier

sr. member

Activity: 914

Merit: 250

Making Smart Money Work

I am against premining. But in some ways a very small premine could be justified. If you look how LTC BTC or XPM manifested itself in the crypto community, then I would say that there is no reason to premine at all.

Vann

hero member

Activity: 1036

Merit: 606

I don't mind an upfront premine as long as the release is fair for everyone. It's better than stating 0% premine and then instamining all the low diff blocks by withholding the wallet or not having any pools setup where everyone can start mining at the same time. There's more than one way to skin a cat Wink

hasar

sr. member

Activity: 336

Merit: 250

You could have bought 50000 premines using one bitcoin. Now you can't.

KaozTiposta

full member

Activity: 244

Merit: 101

Quote from: Gingermod on February 26, 2014, 12:20:28 PM

Quote from: KaozTiposta on February 26, 2014, 12:18:56 PM

Almost every developer is creating his coin for a profit. This is acceptable. They don't create for you to dumping coins at first exchange.

There are other ways to make profit. Ways that yes take more effort than premining, but those efforts have the potential to skyrocket the coin and make the dev a stable income rather than a risky attempt at some big one time cash before the coin dies out.

If you create a coin, which ways do you prefer to make a stable income? Donations, services, maybe..

I can't see any profit if you don't have a gpu or gpu farm.

iampingu

sr. member

Activity: 350

Merit: 250

I don't mind a completely transparent premine, though if it isn't in the hands of a trustworthy dev, it's getting dumped.

Gingermod

full member

Activity: 238

Merit: 100

Quote from: KaozTiposta on February 26, 2014, 12:18:56 PM

Almost every developer is creating his coin for a profit. This is acceptable. They don't create for you to dumping coins at first exchange.

There are other ways to make profit. Ways that yes take more effort than premining, but those efforts have the potential to skyrocket the coin and make the dev a stable income rather than a risky attempt at some big one time cash before the coin dies out.

KaozTiposta

full member

Activity: 244

Merit: 101

Almost every developer is creating his coin for a profit. This is acceptable. They don't create for you to dumping coins at first exchange.

So % 0.25 is ok.

Gingermod

full member

Activity: 238

Merit: 100

Personally I think this "fair distribution" model is absolute bullshit. Devs spreading valueless money just to get people hyped up enough to pump up their coin. The act of premining inflates and devalues the currency.

Gingermod

full member

Activity: 238

Merit: 100

Quote from: albertdros on February 26, 2014, 12:13:59 PM

Quote from: Gingermod on February 26, 2014, 12:11:48 PM

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

to be fair, that 170 thousand dollars was worth 20 times less 1 week ago. The devs continue to work very hard on the coin, even tho it was at 3 satoshi. So, I guess their continuous hard work paid off.

So should all devs premine for quick profit potential?

albertdros

hero member

Activity: 602

Merit: 500

Quote from: Gingermod on February 26, 2014, 12:11:48 PM

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

to be fair, that 170 thousand dollars was worth 20 times less 1 week ago. The devs continue to work very hard on the coin, even tho it was at 3 satoshi. So, I guess their continuous hard work paid off.

Gingermod

full member

Activity: 238

Merit: 100

I feel like no one seems to care about Premines anymore. Recently Mintcoin got pumped up pretty high by many individuals, no one seeming to care about the now 170 thousand dollars they gave some guy.

What do you guys think? Are small premines an exception? Should premines just go?

Topic: PREMINE - What's happening - page 3. (Read 3538 times)