Quote from: gafter on September 05, 2013, 06:02:43 AM

Checked out the source. 2,000,000 coins premined in the first two blocks.

Code:

if(nHeight < 3) //premine bounties
{
nSubsidy = 1000000 * COIN;
}

Obvious scamcoin is obvious.

I beg to differ, Neal.. The actual premine lasted from the 28th of May till the 2nd of September 2013, and consisted of about 16 million coins. It was open to anybody who was intelligent enough to see the potential of SXC.

The 2 million that you refer to was at least partially paid out in bounties.. A common practice that a newcomer such as yourself may not be aware of. I have personally paid out bounties that I had to mine, as I am not the original developer of over 400K, as well as paid BTC from previous mining, to further the interests of the coin. That figure would be somewhat higher, however there are some people who believed so strongly in the coin, they forego a bounty to assist in it's development.

Finally there has not been a massive dump, which is the point of a scam coin. Most miners are holding their SXC or asking reasonable prices for it. There has been a dump of approximately 400 K of which I purchased 284 K for approximately 1 BTC.

I won't argue with you though, I will say that you are obviously relatively new to cryptocurrency, and making presumptions about whether SXC will be further developed into a commericial cryptocurrency, that you or I cannot be sure about ... Time will tell..

I'm willing to wait and see....