Luckybit uses some red-flag words that I personally believe no coin should associate itself with. Crypto-followers definitely didn't rally behind the nascent world of these coins hoping to follow the same, old, fiat trails on that vector. When I start seeing terms like IPOs, syndicate, pre-release (other thread), I also hear,
"Danger, Danger Will Robinson!" We could call it "The 1%ers Coin."
As I don't believe that is the intended direction of crypto-currency, in general, I do not believe that is the direction of this one, either. There are legitimate ideas in his recent thread, but they're perhaps difficult to see below the text. Early organization is important, but I'm not certain we can't refine these ideas to be more popular among the community.
its already not well marketed, if they exclude a bunch of people it will just be a failure - plane and simple .
The design will be ripped sadly and then someone will re-release it, with a different name and no pre-mine "syndicate" "ipo" or pear tree.
This will be a pump dump because a few will have many units and the temptation to offload at profit will be great, such is the free market.
- what about a better idea - my security network friend was saying , are not orphans , just all about latency to the original block chain?
- what about this then, here is simple market genius
1. what about a pool that is set up , secure and stable servers, that is announced days before the release weeks even, with all the info-
2. Then have everyone connect to that pool in which is hosting the BC - at good latency - start at near or close to near 0 diff, but let everyone that wants to mine get good quality units with almost no orphans.
3. Set the pool % fee high at the start for the Devs , say 15 % then the closer to diff 1 lower the % so .5 - 7% so on until diff 1 ,then lower the % to 4% and let the market go ,as other pools will be up by this stage and if others are hosting at below 4% then good.
4. Because there is a number of units in the first critical period the % will pay the devs a lot of units , people will see that as fair as long as the orphan rate is lower than other currencies. Its wins all around. net coin gets a decent start at life.