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Quote from: changesl on September 29, 2017, 04:48:21 AM

scrypt only for asic Cheesy

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.

THIS COIN IS GOING TO BE A PURE POS COIN AFTER THE POW ENDS AFTER 12.5K Blocks

Ok, 12500 blocks x 50= 625.000 For miners, I know it does not sound like much but we keep the Value on the coin as it makes it rare, therefor The price is more likely to rise.
We will rely on a 2% annual reward toward token holders, which i think is a reasonable percentage if compared against PoW coins that may be harder to mine and not always covering your mining cost.

We Premined 2,333,333 KNX that will help us toward payments of coders and other jobs that will be required to keep this project alive as specified in the ANN first page.

As explained in the ANN the whole premine account Wallet will always be available for scrutinizing, all coins going out of the wallet will be accounted for on the Transparency page, this is not meant to create a coin and make a quick buck on the exchange.

Now the other point is who is going to pay the fee for the Nova exchange or Cryptopia or any other exchange to add the coin?

Who incures the server costs (We have 5 Servers running nodes at this very moment) and development cost.

That's why we need the premine to make sure we can be up to standard today, tomorrow and in the future.
We want to be as transparent as possible

.

A coin is only as strong as the community wants it to be!! If you decide to mine the coin and keep it long term and start to make profit because you actually own it makes a lot of a difference. I saw coins on yobbit.net with amazing ANN everybody was invited to mine with 20% premine and i dont know what more, after 24 hours in the exchange it was worth nothing anyone was selling it for nothing practically.

In regards to the early unfair mining that has been made we the KNOX coin Dev decided that once we reach the last block of PoW the 125K coins that have been mined without our knowledge by unknown users will be re distributed among all coin holder.

You DEV and you have to pay for listing it always was !!!

I know, but that's a point that no one even cares to mention, we can not forget this is not a charity organisation, so if we premin coins there is always a reason for itm trying to get. But when i get accused of trying to hide premines and other things i dont take very well.

You do not worry it trolls accuse you you now simply pay for a listing on the exchange