Post
Topic
Board Announcements (Altcoins)
Re: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation
by
ivocoins
on 29/02/2016, 17:41:27 UTC
I am indeed entitled to my opinon.
However if you switch to POS only right now, it is a FACT that this turns into a 70% premine, not merely an opinion.

First, it is not me that changes to a POS only system, but LEOcoin developers are changing LEOcoin's algo.

Second, the premine is spread between a large number of persons, third parties and very many individuals who are not the ones that did the pre-mine. When you would say that there is a large group of LEOcoin owners who is also a part of the LEO community, you are right. But imo, you err in your assertion that it is a fact that LEOcoin would turn into a 70% premine. The fact is that Dan Andersson stated in this thread that the 50m. premine is distributed mostly amongst members of the LEO community. 10m. have been donated to the LEOcoin Foundation, so yes, we will have a decent stake interest.



Of course, you can keep pretending you don't understand the concept.

50 million premine, is still 50 million premine, no matter between how many addresses you split it, or even - for the sake of argument - independent entities.

50 million premined out of 70 million total coins means 71.42% premine. This is no opinion, just simple arithmetic.