Topic: Stop supporting clone coins with % premined - page 2. (Read 1950 times)

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?

Give the creators of Bitcoin your coins, they deserve a premine, according to you.

So what you're saying is that the coin should be created with the intent of bribing exchanges to add the coin and paying people to create websites [of which the owners make profits from the fees]. Good ideas!

+1^

Only copy and pasting a coin can't be called work at all. By saying work i meant the developing the services for it where coin can be used. If BTC is bought by people it is not because it was developed as a currency but it is because it is used as a currency in lots of places. Or else BTC is also not worth anything at all. And premined is needed to promote the coin and to offer them to exchanges like BTC-E to add it to there exchanges and also for paying of for expenses of developing the services.

Why should he instantly get paid at all? Is he not mining like everyone else? What extra work is he doing that it's so important for him to get paid millions of premined coins in order to copy/paste code?

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.

Mods should just close these whiny threads and ban the OP's

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.

The person who releases it can't mine it himself after it's been released? You're a fool.

I want to say thanks for bumping my thread, to make this situation aware to more new players on the market. There are a lot of hyenas involved in this market, and it strikes me to no surprise they are the most vocal on here.

My goal was to make this situation clear to those who are new and or have not realized yet what is going on.

LOL YEah He almost called himself a fool.

F Y. If the coin si something innovative I DON'T CARE about premine. Nobody is working for free while some lazy ass  is making money from is work!

Sometimes, when a coin has real potential and devs are working on places to spend, increasing value of my and their coins, I don't mind when they hold a 5-10% pre-mine.
It gives me the assurance they also want maximum value for the coin, just like me.

But for "launch today, die tomorrow" pump & dump coins a pre-mine has only one goal...

  Love it

 

So someone who releases a coin deserves nothing? your a fool  Quit whining. 

Not all premined coins are pump and dump.  Working example PXC. Innovation is always not important some times better service is more important then innovation.

There is a scheme here which has been going on for quite a while and is hurting all altcoins.

Developer creates new altcoin, premines it for supposed bounties and services of which only a fraction gets paid to other parties, while the main is cashed in by the dev himself, and dumped when the coin hits the exchange and or earlier via other means.

The "dev" merely changes a few variables in the client, then moves on to create a new altcoin and repeats profiting on it.
This will continue until people stop supporting this kind of madness.

While it would be reasonable to premine some blocks for bounties, if the developer was honest and kept supporting his coin, as in creating services, hiring more developers etc, this option has to be thrown because of the too high risks of being abused.


I urge everyone to not participate in any more altcoins that are premined in the attempt to keep cryptocoins alive.

copy coin -> premine -> dump premined coins on exchange -> profit  needs to stop!



Do NOT dismiss every new coin, just those that are of the above kind. There certainly is space for innovation, but unfortunately it will be harder for new coin developers to establish themselves. They will have to INVEST in their new coin, and hope it will succeed, which will grand them more donations in the long run.
Premine should be a red flag "no go" area for everyone now i hope.


From my observations, it seems that hazard is the guy behind most of those dump coins. He knows how to create new coins and is always there to put down new alts he himself wasn't involved in.