This is the part which I wanted to be elaborated. There was no-one mining "first hundred-thousand coins" in i0coin. You're probably recalling IXcoin, which as far as I can tell is a scam.

I view i0coin as a simply community project by those who were frustrated by the obvious scam (IXC), but liked the concept of faster maturity etc. Regarding the launch, no coins we're premined and there's even proof about that.