Quote from: tombstone2 on April 19, 2016, 03:07:32 PM

Quote from: cryptohunter on April 19, 2016, 12:56:14 AM

Quote from: smooth on April 19, 2016, 12:50:15 AM

This blog post was obviously written about STEEM:

https://bytemaster.github.io/article/2016/03/27/How-to-Launch-a-Crypto-Currency-Legally-while-Raising-Funds/

sounds like scam justification to me...

They said no premine no instamine then instamined it all themselves. When someone else got some they reset the blockchain to start again.

sounds like xcoin release but they had to do it that way.

soon it seems devs will have to take 80% of the minting it's the only fair and legal way to get some funds Sad

I'd take transparent ICO over this.

Let's go back to POW fair release protocols from wave 2 of alt releases.

So it's not ok to premine (mine before the ann thread is created)

But it is okay to instamine it whilst stopping majority of others mining it. Whilst claiming no instamine and no premine.

It's kind of hard to believe what an idiot you are.

shhhh I've seen you in the steem scam thread. You grabbed a few steeming scam coins good for you.

I like this bit
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Perhaps the Bitcoin Communities cultural regulations are a blessing in disguise. By intentionally violating every one of their expectations you can minimize your tokens value at launch while still legally mining a token for minimal cost.

Those in the Bitcoin community who are forward-thinking enough to recognize the value of alternative allocation strategies can mine these pariah coins and profit along with their creators.

================================================================

haha what a joker. Under the guise of doing it all to remain legal and above board.

You heard it right here. Only a handful of miners (because if everyone can mine his idea does not work) should be able to mine and profit. Everyone else should be scammed into paying high prices for the coins they got for nothing if they can get it to take off. Which hopefully they wont if we all brand it a scam and spread the word to others its a scam. Then clone their ideas and release them in a fair manner.

I mean it is that simple. It will be deliberately unfair in every possible way to ensure only the devs and handful of others can mine it. Then the profit goes to them and only them and the creators.

You don't call scam on steem and let them get away with this you can kiss goodbye to any sort of fair distribution in the future.
This is darkcoin/xcoin all over again. This time it has to be done like that for their own good and the good of the few miners that may be allowed to grab up all the coins with them.

Pariah coins? = scam coins.

You see this STEEM scam is basically exactly like xcoin/dash coin. It may not be quite so bad because they are saying that a lot of the coins they grabbed all up for themselves are not really all for themselves because they will be given out to people using the social media site. Used for development etc etc...

However, let's get some exactly numbers put down so we can see just how much they grabbed up , how much is vested, how much retained for giving out to social media users, how much for development.

That's not the main issue. The main issue now is all the future releases of pariah coins that wont give shit out for free and we have to rely on them even doing so.

what about all the other devs looking at this justication for grabbing up all the coins with a few pals...they may not be social media and will just keep all the coins and "profit like the creators"?

Alternative allocation strategy hey.