Post
Topic
Board Altcoin Discussion
Re: Why premined altcoins are considered scam-coin?
by
gustav
on 10/06/2016, 22:12:10 UTC

Obviously if you premine a coin to have most of the monetary base for yourself or cheating the other users this is bad and the currency has no future. But my point is that premining used with a fair transparent distribution policy could be more fair than let the monetary base in the hands of big boys of cluster mining that can easily grab the largest part of the monetary base for personal speculation crushing the possibilities of all others normal users that with their little home pc cannot compete.

There is no such thing as a "fair transparent distribution policy". Coins come from mining. Mining is necessary to run a blockchain. I'm not a miner but i prefer buying coins from a miner instead of hoping for "fair transparent distribution policy" because that's just some scam-artistery normally. I've seen enough of these "fair distributions" over other avenues than mining. None of it was fair. Pow mining is the fairest distribution possible even if you're not a miner.

Remember: the miner did not create the coin. Letting the creator distribute his own coin "fairly" is an hilarious idea. You obviously have no clue about human nature.

In my humble opinion longterm pow-mining (no flash-mine or ninjalaunch bullshit) is the only fair way of distribution. Blockrewards should slowly fade away, not abruptly. Until 50% of supply is mined, should be at least 4 mionths or more. I'm talking currency (valid money) here, not tokens.

Just my personal minimum requirements to even look at a market .... everyone is free to buy into a premined coin and make some experiences themselves  Cheesy