Re: ANN - LEOcoin - Official announcement regarding LEOcoin from LEOcoin Foundation
Let talk about the premine and POS.
Coin premined: 50,000,000
Coin Mined: 958253 * 20 = 19,165,060 < 20,000,000
Premine percentage: 50/(50+20) = 71.4%, if POS continue, the percentage will go down...
However, if Leocoin switches to POS now. As the block rewards based on coin age = (# of coins) multiply (time of coin in particular address). So 71.4% of block reward goes to the preminer. Thus this percentage will stay forever. Botnet, virus are just excuse. Their true intention is to control the coin distribution forever without any cost.
Blockchain vote? They control 71.4% of the coin now. So it's a big joke.
Coin premined: 50,000,000
Coin Mined: 958253 * 20 = 19,165,060 < 20,000,000
Premine percentage: 50/(50+20) = 71.4%, if POS continue, the percentage will go down...
However, if Leocoin switches to POS now. As the block rewards based on coin age = (# of coins) multiply (time of coin in particular address). So 71.4% of block reward goes to the preminer. Thus this percentage will stay forever. Botnet, virus are just excuse. Their true intention is to control the coin distribution forever without any cost.
Blockchain vote? They control 71.4% of the coin now. So it's a big joke.