Re: [ANN][STEEM][POW] - NO IPO | NO PREMINE | NO INSTAMINE (relaunch)
"You just need thick skin and the ability to ignore the Bitcoin pharisees and the angry mob they incite to nail you to a cross for failing to sacrifice your creation to the prevailing mining gods."
How to Launch a Crypto Currency Legally while Raising Funds
https://bytemaster.github.io/article/2016/03/27/How-to-Launch-a-Crypto-Currency-Legally-while-Raising-Funds/
Interesting read and insight into the crooked mind of this dev.
What this says: dev didn't want to pay lawyers and in order to raise the funds he intended, so he tricked the general public. Not for a second do I believe he doesn't have a PC around to compile a windows wallet, so his previous statements make him an outright lier
What's more interesting though is that the team was looking for a way to raise capital. Since they didn't do it through an ICO but instamined their own coin, this means they are planning on selling what they mined in order to acquire the funds they need. Now they might tell you they won't and can't and bla bla.. Remember the previous paragraph where we found out the dev simply lies to bend the reality.. Soooo..
That is exactly what it means and this is why every late-investor, non-miner or noob will get burned hard except if the devs sell it OTC to pump groups, which also isn't legal.
Else they will just dump on the market, which has 50-60 BTC buy support and half of it is fake probably, and I don't see poloniex adding a 80-90% instamine.
it's funny you guys quote the message with " pharisees " in it. This is only 4 weeks old, and you are already talking about late investor shit. So a few people mined and the devs secured a large percentage of that by mining instead of selling xx million dollars worth in an ICO and claim they ran out of funds in a year or so. I actually feel much safer knowing the devs own 80% or more locked in power-ups for two years. Yes they will get weekly payouts and will have control, but what better motive will they have go the whole nine yards to make STEEM a success? I know you want to mine 80% of a coin and have the devs work for you for free, does that ever happen? I myself was called many names in the past on bct, and the fact is I agree with the devs 100%, catering to the pharisees on bct is a sure recipe for failure.
If you guys spend as much time reading instead of casting stones, you will know this is still in the early stages, even pre "early investors" as you like to call them. Get your powerups now while it's not expensive to do so. Join slack and learn how you can get STEEM without mining or buying, even the pharisees will make STEEM on steemit.com by casting stones
