260 000 000 premined coins when i'm getting 200 coins/hour on the second day?
I'm out =/
Wait. What? These were premined?
premined 2% (main post)
13.5 billion total coins
= 270 000 000 premined coins.
amazing
Not really. Pre-mining isn't always a bad thing. The chances that the coin takes on a life and does anything is pretty slim. Pre-mining allows the dev team to have bounties, giveaways, fund faucets, and all that kind of stuff.
Without that, what would the devs do? Giving away coins is a great way to get people involved. Just look at Dogecoins. People were giving it away like there was no tomorrow and it has caught on.
If you're a developer, and not a gamer, chances are you don't have massive mining rigs. You don't need 8 GPUs on a software development machine.
The entire anti-pre-mining thing is a bit overdone sometimes.
Now, 2% might be a bit high... Not sure what an appropriate level is... I guess that it depends on the projected lifespan of mining until only transaction fees remain.
There is a fine balance to achieve there, and I think we're still seeing a lot of experimentation going on.
Now, for a lot of coins... well, I just don't see much value other than for gambling on. Meh... Whatever. If you're buying USD, you're gambling. If you're buying Euro, you're gambling. Foreign exchange is just pure gambling. So what's the difference? Crypto is more volatile, etc. etc. etc.
270 MILLIONS of coins is TOO HIGH premining.