Post
Topic
Board Altcoin Discussion
Re: What's the next "BIG THING" in the altcoin world
by
SatoNatomato
on 24/03/2017, 07:29:14 UTC
Just took a closer look at Byteball's distribution scheme (because someone posted and ask me to) and realized the developer did a sneaky form of premine (he wasn't totally honest and transparent):

The first round of Byteball was awarding 1 GB for each 0.7 BTC. The 4th round is only awarding 0.0625 GB for each 1 BTC. So apparently the distribution is nearly completed.

So the developer/creator of Byteball (named Tony) was very sneaky. He said his premine for himself was only 2%, but in effect it will be more than 10% (currently 14.6%) because less than 20% of the total planned supply will ever be issued.
Tony never claimed 2%, he only claimed 1%, and that is still valid, 1% is kept for him, the rest is distributed, just because it went form 0.7BTC to 0.0625 doesnt mean he will retain more, it means there will be more distribution rounds.