The person who releases it can't mine it himself after it's been released? You're a fool.
But if the person is doing hard work to make the coin successful then what. By your point of view I think he should rely on donations like beggars. Wake up Bro every body needs money to do something. Now consider if you are mining for months and you don't get even a single coin. Will you still keep mining the coin. I am sure even though you won't have to work hard like the developers but you still will work only for money. I have no problem with premine if the developers are really doing something other then pump and dump.
If a developer actually gives a shit about his coin, he'll code it without his million coin premine.
The only thing a premine does is give shit heads a reason to release clonecoins and sit back and wait to sell them off on some shitty exchange that adds every new shitcoin.
Exactly... the developer IF he trusts in his coin, can mine himself, and if he REALLY puts a lot of work into it, the price will skyrocket and will pay for itself. That, along with donations of those who got rich on his coin.
If he has to premine it for profiting on it, he probably already has planned to release the next shitcoin.
Or are there really that many naive people around here that think there are no scum developers in the cryptoworld which would abuse this scheme to infinity as long as it works?