Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [Phantomx] coin -> online currency [PNX] | Pow/PoS X11 Masternode
by
Alex68
on 17/01/2018, 13:50:08 UTC
I quote myself, cause I still haven't got any answer. I am mining PNX, I like the project, so it is not about FUD, or anything. But I would like to have an explanation.

What about those 6millions lock premine ? Which is more than the actual supply !!!

If they really are burned / unspendable, why have a premine in the first place ? It make no sense. If you just want a locked account to burn coin, you don't need to have 6 million coins inside.

Unless they aren't that unspendable after all. So my question again, what are those premine coins for ?
There is no mechanism in this blockchain to burn/delete/destroy coins. So the simple solution is to send coins to some account with no private key, so coins will stay there forever. Of course, there is no 100% guarantee that no one holds this private key. However community will observe this account and trust will be help until those coins stay untouched.