Quote from: Portabello75 on October 06, 2015, 08:30:42 PM

Quote from: defaced on October 06, 2015, 08:29:03 PM

Quote from: Portabello75 on October 06, 2015, 08:21:34 PM

The 11 million still haunts this coin. The fact that miners earn pennies a day while there are 11 million coins in a 'development fund' is pure stupidity and this coin will NEVER become anything useful as long as this fund is in place. 100% FACT.

If the Development team were serious they would take a vote on what to do with the fund with some reasonable alternatives such as.

1. Burn 90% to give mining real value, recoup current holders for their 90% loss from introduction (It's more for most but hey) and establish a new development fund with 1 million coin.
2. Burn 100% and hard fork with subsidized mining (10%) for development purposes.

The developers can't justify this fund, and the 'it's a development fund' doesn't hold since it's obvious that the community (coin holders and miners) DO NOT WANT THE FUND! Sure, development is great, but 11 million coins is doing literally nothing but kill any chance this coin ever had for two very obvious reasons: 1. Mining is pointless (negative value proposition) 2. Who wants to develop anything on a worthless coin?

Its obvious to who? Someone with 7 post on bitcointalk?

Anyone with half a brain works as well. Have you EVER even heard of a coin succeeding that had 95% premine locked away? No.

lol correlation isnt causation. Expanse is an experiment into self funded DAOs. Smart contracts give us the ability to create new ways to earn from the network. Proof of work is one way, proof of stake is another, and proof of democracy is another one. You might not like the experiment but you are participating in it by voicing your opinion. If you feel so strongly against it, the only way to not participate is to simply not participate. Have a nice day, I hope you find your dream coin. If its a zero premine, low supply variation check out www.frankos.org its been around for 3 years, has a supply of about 500k and no premine. Enjoy!