Quote from: MidwestMiner on September 02, 2015, 01:26:32 PM

Quote from: ShiftTeam on September 02, 2015, 01:04:30 PM

Quote from: MidwestMiner on September 02, 2015, 01:00:31 PM

2 things that need to happen immediately to give this coin a chance:

Burn at least 200k of the premine immediately. A premine that represents MONTHS of mining is killing any value this coin could ever have.

Deposit remaining 50k into a multi-signature or escrow account with 2 or more hero members and define clear bounty payouts. There is NO incentive mining if someone finding a spelling error in the wallet client gets 1000 SFT as bounty (about 2 months of mining at 40 MH/s)

No one have recieved 1000 SHF in bounty. Not even close. The most i have even given so far is 180. We will not by any chance burn 200K. This funds will be distributed by bountys over time, and this have been stated from the beginning. The funds will be held on a multi escrow account in the near future.

I got this PM from Gunther:

"Hi there,

Just a quick question:

Are you trying to scam us all with that huge premine?

Hug,

Gunther"

Sorry Gunther, but we have to answer this. Whatever we say it will probably not be enough. 200 000K will be moved onto a multi escrow account, that means several persons (4) have to accept withdrawals. This currency will distribute 200K by bountys that helps the Shift network grow in terms of, dapps, nodes, marketing, graphics, and core development.

Secondly, what member status you have on bitcointalk says only so much. We would rather trust known public members.

You do realize that 180 SFT is a week's mining for someone with 25 MH/s. If this was paid for a minor bug find we can only assume SFT is worth $0.10 or less, making mining at this point non-profitable.

True, although you must realize that in the beginning of a launch you MUST pay people these amounts to get started within the critical hours. If we fail at launch with things like documentation or that we do not have the time to help out, then everyone would loose on it. The amount of bounty will be adjusted when things have settled. We had a deadline and was not going to fail that one. One more thing, the amount of percentage that the premine will be is decided by holder of shift.