Re: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation

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.

Leocoin community (members) should to be able to vote to change algorithm....
if community and miners not switch to POS wallet what happen?

As reply I quote from the interview that was posted here last week:

Quote

LF: Dan, did you not mention a blockchain vote the other day?

DA: Yes indeed; there will be a blockchain voting procedure. For an open digital currency that carries transparency and democracy in its label, it sort of comes as a natural thing that the owners who actually hold LEOcoins will have the opportunity to vote on major changes. We are still working on the technical details with the LEOcoin development team, but ultimately, when a majority will have chosen to embrace the POS mechanism, it will be swiftly implemented.