I'd be surprised if Poloniex listed it with a question mark over the remaining 95% of the supply being in the dev's control regardless of the longevity and validity of the project.
Exactly, I've read everything that the dev has said in this thread recently but nothing he said really gives an excuse for this. Distribution should be a priority or the whole project just looks incompetent, the more people find out about the coin while the distribution is basically non existent, the more people will lose interest in the project simply because they have no access to the coins at a normal price, knowing that devs are holding 95% of the supply and the coin has already been in development for 3.5 years.
I love this coin, 3.5 Years of development, that is good but distribution cannot be the same, you are confusing the economy for no reason and there will always be a big question mark above this project. I have traded cryptos on this forum for about 4 years now and this is one of the worst distributions I've ever seen, putting a huge stain on its amazing tech, there is no excuse for this.
this^
+1
Doesn't Byteball raise any questions when they distribute their coins? It was on per month basis before, but now it seems they'll distribute it only as a cashback program. And it is still tradable on Bittrex though.
What about 50+ multi-million $ ERC-20 tokens, whose developers keep 50% of the tokens for themselves, or similar blockchain projects (like NEO)?
Considering Skycoin has ~6m coins (6%) at the moment and 75% are going to be distributed automatically to Skywire nodes, the team has access only to the remaining 19% of the coins, which
they plan to release at OTC.
I think, this project with a 5 years old history can be already considered as legit, because no one was scammed or something.
I totally agree here. I like the automated distribution
Distribution methodology is an ongoing process.
With distribution models there is no best one. You have to do a hybrid distribution model. So there was crowdsale and now there will be miners. So this gives median average distribution - allowing everyone advantages in the system - meaning more equal distribution theoretically, basically meaning the distribution is not centralized.
So the theory we came to was everything should be decentralized to make a decentralized project lowering all barriers to entry.
If you look at the correlation (technically or mining hardware setup) maybe mining is too advanced for some people (higher technical barrier to entry).
Exchange involvement is a lower barrier to entry with regards to tech but a (higher financial barrier to entry).
This distribution model gives better opportunity for both sides.
There will be more distribution models in the future but these are two basic ones to increase fairness and general distribution.
The next one will probably be contribution to the network and otherwise so just running a basic node.
So you dont need tech experience just launch an .exe and you get coins for running it (pure node).
It is still a work in progress. But essentially hybridization of the distribution is the most fair approach for distribution outside general POW (proof of work).