Quote from: dawveed on October 23, 2015, 01:21:26 AM

Quote from: litecoin111 on October 23, 2015, 12:01:14 AM

Quote from: fai on October 21, 2015, 02:18:58 AM

Quote from: dawveed on October 20, 2015, 06:44:33 PM

The fact that the Dev premined 99% of the coins, automatically converts them into a kind of "centralized bank". In fact, they openly recognized that if the FAIcoins go up too much, they will sell, and if it drops down, they will buy. Isnt that what the Banks/Governments usually do?

Note this, if the FAI coins reach $1 USD per coin, they will be billionaires, and a few users will get a few thousand and the majority almost nothing. Same old story of concentrated wealth by bankers at the spend of other people...

What if Satoshi Nakamoto would have premined 99% of the Bitcoins?
Bitcoins would have been a joke by now.

read .257 please
read .257 please
read .257 please

What does that even mean

It means read post #257.
I did read it, but I don't think it offers a satisfactory explanation.
It would be a shame if this project go to waste since it's a great idea.

Additional 2 points:
1
What's premine? All the coins mined before a newcomer enters are premine to him--no matter who owns the coins, they are premined.
Is there a fair distribution method?Can a newcomer of bitcoin ask for compensation from premine?Of course not.
But, the answer is true for FAI
2
If as you wished , "no premine", then ,
Either total coins versus fee is too few, so fee will be very high, so there'll be few contents, so the project will fail;
Or total coins versus fee is too much, so the blockchain will be filled with spam contents, so the project will fail.
Conclusion: "no premine"=doomed to fail