Quote from: 8-bit-Party on September 13, 2015, 09:52:07 PM

Quote from: fartbags on September 13, 2015, 09:43:53 PM

Quote from: 8-bit-Party on September 13, 2015, 09:34:25 PM

Quote from: fartbags on September 13, 2015, 09:30:57 PM

I like the idea because I'm a developer. Devs need money, miners need money. Why not go 50/50 split?

It's fine that devs need money. However, at this moment premine is >90%.

I actually have no idea how much the premine is. I doubt it's 90%.

Block Reward: 8
Gas Limit: 31415926
Block Target: 60 seconds
Listen Port: 60606
RPC Port: 9659
Reserve: 11 Million (Community Managed)

Premine: 11M

after 1st day: 11M + 8 * 60 * 24 = 11M + 11520, premine is 99.9%
after 1st week: 11M + 8 * 60 * 24 * 7 = 11M + 80640, premine is 99.3%
after 1st month: 11M + 8 * 60 * 24 * 30.5 = 11M + 351360, premine is 96.8%
after 1st quarter: 11M + 8 * 60 * 24 * 30.5 * 3 = 11M + 1054080, premine is 90.4%
after 1st year: 11M + 8 * 60 * 24 * 365 = 11M + 4204800, premine is 61.8%

Call it however you want.

Nice maths! Except you conviently left out the entire DAO that house those figures.

11m is the initial reserve
----------------------
10m goes into a ternary community DAO contract (where no central authority can spend them)
1m goes into a multisig founder/developer DAO that is slowly released over time
100k is awarded to developers up front for their initial contributions.

100k of 10m == 0.9090909090909091%

I look forward to your next post.