Can someone answer my question about the 10 million premined coins? Who owns them, why are those idle, and what are the plans to do with them?
If those coins will be brought to market, it will have a big influence on the price compared to the 1 million coins which are available for trading at the moment.
They have not been touched, they are in cold storage. There will be a smart contract that will lock them up implemented soon. (The contract code is already made)
The way the smart contract works is that it makes them impossible to move for 90 days, and that is 90 days from when the contract is unlocked, and the unlocking is public. This will give us time to get the DAO coded, and make people feel more safe.
Homestead is coded and being updated at a certain block, and I believe after that the test contract goes in, we test that a couple days, and then the time lock contract for the 10 million goes in and then people can feel extra safe. Although the team is public and clearly we are in this for the long run, I think it is crucial that smart contracts are implemented to make people feel even more secure.
Thank you for your answer.
I have no problem with coins being premined for compensating the devs. But it should be communicated openly who owns how many coins. Now it raises doubts. In example it's public knowledge Vitalik owns +600K ETH. No problem, it's well deserved. But if he would have kept it a secret, it could have been a problem when someone found out about it. So it would be wise to communicate who owns those coins and what will happen to them and in which time frame.
It would also be smarter to lock them up in smaller parts. If a contract for 10 million coins is unlocked, the price will plumbed instantly. Those 90 days will have no effect on that. When the announcement is made that the contract for the release of 10 million EXP will be unlocked, all investors will drop the coin and the coin is dead. As long as this is not sorted out it is also a big reason for investors not to invest in EXP. I'm already regretting my investment, because I didn't know this upfront...