Re: [ANN] 📈 KnoxCoin【KNX】🌟 💵 POW/POS 2% 💴 POW JUST 12.5K BLOCKS
scrypt only for asic
Yeah, but hopes that one hour after Ann i would stiller get some with cpu. Never tried cpu mining scrypt before for that obvious reason :p buy there are many on the lookout for New coins and i guess even just one asic would make my cpu pretty useless :p
POW 12.5k blocks, means 625k coins only for miner.
10%premine, 2.3million, I cannot say dev is greedy, but with 2% POS return, I think its no value for miner or investors.
GOOD LUCK!
This is such a crucial point I want to re-emphasize it:
The pre-mine is 2.3 MILLION coins.
The total PoW supply is 625 THOUSAND coins.
There is no point mining a coin where you can only mine such a miniscule fraction of the supply.
Also, note that the ANN claims "10% Premine for Bounties and Airdrops" in large text but buries this little gem in the text:
Quote
2.5% of that premine is set for the developer.
The dev gets 2.5%, or 575000 coins. So the dev starts out with a personal supply almost equal to the entire PoW supply.
Please spend your hard-earned hash at your own risk.
I have no issues you not liking the coin or the idea or whatsoever but now you saying i am hiding things from the public is wrong the 2.5% for the devs is very well displayed among the text, at least its stated there, its not like i am hiding it, this look more like personal attack on this project than anything else. You dont like it dont participate it's that easy!!
You know what, you're right. I apologize if I made it sound like you were hiding it. I have edited out the part that makes it sound like I am accusing you of hiding something. I am not accusing dev of scamming or hiding info.
My point isn't that you are hiding or misleading. My point is the economics of this coin are just silly. You personally get 575,000 coins and the entire PoW supply for everyone else is 625,000 coins. Please let miners know why this is a good idea.
This isn't a personal attack. But if people invest in coins like this, then get burned later because it had poor economics, the cycle will keep repeating itself. I'm trying to promote a healthier ecosystem by encouraging people to only invest time/money/hash in promising projects, with good fundamentals. That will encourage devs to launch coins with good fundamentals. Otherwise devs will keep pushing the envelope with bad pre-mine and insta-mine arrangements.