Quote from: LEOcoin Foundation on February 29, 2016, 05:55:11 PM

Quote from: ivocoins on February 29, 2016, 05:41:27 PM

Quote from: LEOcoin Foundation on February 29, 2016, 05:36:41 PM

Quote from: ivocoins on February 29, 2016, 05:23:13 PM

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.

Yes, the 50 million premine has been know fact from the start. And the current percentage will indeed go down with every new generated block of LEOcoins. What matters to me is not the amount of premine a such, but how it is distributed amongst the owners of LEOcoin. There are also miners with large volumes in their wallets and probably many with a few.

There are only 20m mined coins, no matter who owns them. And 50m is premine. Now if you discontinue mining, 71% will be premine, instead of the promised figure of 5%. Thats 14x more premine than you originally claimed.

Yes, more coins will be generated through POS, but this is proportional to the coins held, hence, if mining is discontinued the 71% premine will be unchangeable. It will never be 5% premine as you initially claimed.

You own the exchanges, 71% of the coins. And you figured you want to freeze it here.
If leocoin is as transparent as you claim, please allow it to be traded on the major independent exchanges.