Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [SUMO] SUMOKOIN - 🔏 Digital Cash For Highly-Confidential Transactions 🔏
by
CyberTrader
on 08/03/2018, 13:04:35 UTC
Simply saying, "we are not much different from Monero but we have plans and features in the pipeline that will definitely make a difference", would probably have helped eliminate the very FUD, folks
are so worried about. And there is ample evidence that many people are worried about the 10% premine.

Transparency helps to convince people. But again... just my 50 cents on the topic.

"we are not much different from Monero but we have" this has been done in this very ANN lots of times. Anyway, at least a few xmr fans try to twist facts and spread fud. Especially visdude has his issues, if you read all his replies in this ann you will see

I don't get why people are upset about the premine. Devs handeled it very transparently. The premine is mentioned on the first page and Sumoshi made a blog post about it on our medium blog. If one does not agree with the premine there is a simple solution: to move on. I don't get why this is made an issue again and again.

@GerMining  First of all, you are one of the more helpful community members. If I remember correctly you asked me to address my questions in the telegram group. Except for insults from a certain member of Sumokoin, I didn't get any answers.

However, I guess many folks are worried that they mine/buy Sumokoin and devs will dump loads of coins when the time comes or when the price is reasonably high. A simple reassurance that no mass dumping on part of the dev team will occur could help. Information on how and when the premine will be spent will at least be seen as an attempt to reassure people that this crypto currency is founded on solid principles. Almost anybody making money trading crypto will advise you to look at factors like,

1. Who is the team?
2. Does the dev team have any development background (in other words: are they qualified to implement a given roadmap)?
3. What makes this coin so different from others?

As I mentioned in an earlier post, some in-depth information answering these questions will generally be useful for potential investors (and/or miners).
Anonymity and showing potential yet inquisitive people the finger certainly won't help. Even currencies like GRAFT or ETN handle this aspect of PR much better.