Quote from: vegasguy on June 15, 2016, 04:20:42 PM

First to set the record straight. I was once the highest holder of CON, and slowly sold it off over a few months in late 2015. Anyone notice a massive tumble then? No. The reason. My supply wasnt dumped. It was listed on the sell side always. The only issue being talked about here is the premine. So thats where I will focus on the discussion.

Lets really understand the why premines are a "four letter word" for those that might be new (not many).

Premines are always frowned on. Its ALWAYS the one thing that is in dispute between the users and the dev. Here is the exact reason.

Ever since altcoins have been born hundreds of newbie devs would take their premine as fast as it hits the exchange and dump the entire amount and disappear. This has happend thousands and thousands of times. Its to the point that its almost expected. Its gives enormous power to the dev to make fast money and to abandon the project, and ever user get screwed. The higher the premine, the more danger. I get that.

Here is my argument:

Ive done 2 successful swaps:

Fly was launched September 2015.

One was fly , were there was no premine, but I was a massive bagholder of the existing coin, and I made a promise to the users that if the dev did not return , that I would take over, never thinking he would abandon his project. I am the top holder of FLY and have enough to dump it 10x over, but I dont sell my coins and disrespect myself and the users. Here is my wallet that anyone in fly can verify I own. Go head and look, I dont sell. Im at the top. Look back through the transactions as far as you want. http://fly.dnsalias.com/richlist

The other was XDE2:

Launched and swapped January 1st 2016. Still under CONSTANT development. Our 7th wallet is about to be released. We just added POSP.

My premine was 53 coins, and a wallet that yielded a higher percent POS rate. I think over the course of 6 months, Ive sold about 10 coins. Here is my addy. http://xde2.dnsalias.com/address/xPXuZNkLM3Q4QfE8nE9f2qy1NC84HvhbpC

You would find it near impossible to find ANYONE that hates "dumpers" more than me. Because when greedy dumpers , dump their coins, they are only caring about themselves and hurt everyone else.

The results of both swaps were staggering. XDE2 is stable @ $22 a coin , and FLY is rock solid at 128,000 sats , from 13 sats.

Is the premine higher than normal? YES!!!! Here is why:

Cryptco is getting 5%. Im bringing in 3 more of my team we will get 1.25% EACH. The 4 of us from team fly are short term to fix everything. This is NOT a takeover.

Crypto gets the most as he will be running the project after we are finished. We are NOT asking the community to take a collection of btc and pay us. This will cost you NOTHING. I will NOT dump my coins and disrespect the community and trash my good name. I never have, and never will.

I would like to hear valid detailed explanation of WHY a premine cannot be done. I will promise to keep my same CON addy, and NEVER change it as I have done with XDE2 and FLY, so EVERYONE can look at it anytime.

Thanks for your feedback.

Vegas

I agree to all of this and I appreciate your work. I'm a long-term supporter of PayCON. Please look at my previous post. I am holding about 1 Million PayCON /(1/25 of the CON money supply) So - Yes, I am a bagholder and believe in the SUCCESS of CON and didn't sell any CON yet. Crestington worked hard for CON and I think it is the best to develop one of the best CryptoCurrency's available in Crypto in his interest.

I agree, a Premine sounds bad. But I know the FLY Team and I know the team is working hard to develop some very goood Coins. And their work should be adequately rewarded. The Community does not have a BIG BTC Development Fund yet. So we should look for alternative methods of financing the development of CON.

I am willing to act as an escrow agent for CON Community members if it is needed.

~~CryptCo