Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [PoW] [PoS] VEIL - Privacy without compromise
by
VeilStrontium
on 16/12/2018, 18:31:20 UTC
Lol, 50% budget, labs, bla-bla-bla, aka "premine, but we just take it later".

Let's pretend what you've boiled it down to here was accurate. Avoiding a premine alone would greatly benefit the health of the currency by avoiding a swathe of the coin supply being staked from day one. That's already a big difference.

We have asked nothing from anyone externally. If you choose to mine or stake is completely up to you, and the chain will reward that. If you choose to contribute otherwise, the bounty system will reward that. That freedom to develop the product, and as a result, price, is what we're aiming for. But it costs money, and that expenditure benefits not just the team, but everyone.

If you think a premine or an ico is a more reasonable way to start a project you're welcome to that opinion, but try to remember that we as a team have already put our money and time where our mouths are throughout developing this project over many long months. As things stand, it's considerable insurance for you, the users, that we're not going to exit-scam on raised ico funds, or dump a premine and move on. I hope you might come to appreciate that in time.

I don't know that this reply will change your mind, but all the same thanks for your feedback—we appreciate it. Keep your eyes peeled for more on the budget and other info in the near future.
Cheers