Quote from: badstars on January 20, 2018, 05:21:34 PM

My thoughts on the premine issue:

This is not to spread FUD but I believe the community needs a clarification of the issue to be able to move on and grow in the long run. I've discussed this with both the dev and the admin (Infinity) in discord. I don't like the situation but I'm kind of okay with the answers.

What happened:

Dev committed the source needed to run the blockchain to a public GitHub in early/mid December.
Someone found and downloaded this, set up a node/pool and started mining the coin on December 19th. Not the dev according to the dev himself. We have to trust him on this as there is currently no way to know unfortunately.
That person mined until late December. He then stopped. Then started mining again as the coin was announced.
The total is a bit more than 250 000 coins. That's a lot IMHO. For a long time, if those coins starts moving, they will move the market a lot. Compared to max supply though, it's not that much.

How does it affect the coin long term:

It's very likely we will never know for sure who did the premine. This will always be a sore point and up for discussion.
While this will not be a large amount in the long run, it will be a significant time for the close future, and movement/dumping of these would have a huge impact on the price.
The above fact may scare off miners that mine for short term profit. May both be good and bad. It will reduce liquidity/volume and the free advertising you can get through that part of the miner community is lost. But it can also be good for the price with more hodlers.

Please tell me if I'm missing something or if you have any other thoughts regarding this issue.

Just to add to my comments on the premine. Here is the address that got most of the premined coins:

https://ltzexplorer.magnificentpool.com/address/L17opZaVcRK4h9MV4KhkCmzUBa56BxSRb8A

And 1% also ended up here, probably due to some kind of pool setup:

https://ltzexplorer.magnificentpool.com/address/L1RNA17pXXfqLspoFh5Tgm5ps8oPpnFCe7h

These last funds seems to have been in the move lately, can't really work of to where from the block explorer though. Maybe I'm missing something.