Re: Re: [AXIOM] AxiomMemHash, Schnorr Sigs, 8/3 Status Update, AxiomPOS 3.0, AXH 2.0
In general we don't differ much, except that, for once, I am going to give the dev the benefit of the doubt. I don't believe he launched this knowing that GPUs will find a workaround and therefore with one by his side. I believe he just jumped the gun and launched when the thing wasn't even remotely ready.
I also disagree with your fear regarding current distribution -no one has amassed huge amounts of coins-. Yes I know this is not possible to know for certain but if someone would have, either he has enormous faith in this project and hasn't dumped any -which makes no sense in and of itself and which would make the accumulation actually beneficial- or plan on staking for a long, long time still. Either way, preserving the natural rise in the price we are witnessing.
You might be right about the GPU miner. Even if you are, it is highly indicative of incompetence. Looking at the blockchain, no one mining from block 1 would even need a GPU miner to amass most of the coins.
The first 400 blocks were mined in under 2 hours, 200k coins. First 100 blocks mined in under 5 minutes. At about 4 hours on the dot after launch around block 535, the initial instamined POW blocks started staking and removing LOTS of POW blocks.
I got in even later and like I said, mined one single 500 coin POW block, thats it. Consistent 24/7 staking got me up to 1930 coins or so by the time the 5 coin rewards kicked in. Nearly quadrupled in that short amount of time. Look at the block explorer and play around with the numbers. The dev could have EASILY amassed 25% of the total current supply just by instamining from block 1 on a single CPU and staking. The only way he couldn't have is if he didn't mine or stake from the start. Why wouldn't he, and why would he give such a large gift to a random lucky miner if he is concerned with poor distribution?
If he used multiple CPUs and bought as many dumps as he could on smaller exchanges before pumping on bittrex, I have no doubt he is controlling well over 50% (conservatively estimated) of the total supply.
This is all speculation and I have no proof of course, but there is a difference between giving the benefit of the doubt and putting on blinders. Look through the blockchain, check the time stamps, factor in how quickly my coins multiplied. When you add it all up, what other conclusion can you come to than that the dev is controlling an ungodly amount of the total coins?
Good points. And deductions. In the bigger picture though, even if you are right -and you could very well be- it could be beneficial for the project IF )again those pesky big IFs) the developers (I have been informed it's a team of three) really do believe in this project. That would mean they don't want to sell immediately and run away to the next project.
