Quote from: minerman1234 on February 27, 2014, 04:53:28 AM

Honestly, I don't see anything wrong with a premine, at least in cases where devs took the time to develop a coin and obviously care to see it progress. I see it as having a stake in a product, legitimate businesses do it. Founders, CEOs, a lot of big wigs have large stakes in their companies, why should cryptocurrency be any different? Because it has low/no startup costs? I don't buy that argument, after all, isn't a person's time worth something? Besides, it's not like it changes anything inherent within the currency itself. A currency with a purpose will continue to have a purpose as long as people give it one.

I've said it once before, I don't mind if someone profits with an idea that can change the world for the better, and I sure as heck don't mind if someone profits in the process of helping me see profit. Everyone who makes the premine argument seems so focused on what they're putting in other people's pockets, and what's more, they seem so hurt by it. Why? Granted, I can see why getting burned by a dev who used you as a platform to make some quick cash can be frustrating, but should that really condemn the other creators who are actually trying to do something with a crypto? Is it really that bad to see someone get paid for their efforts?

Most coins are "developed" through cut and pasting, doesn't take much for a dev to start his own alt coin.

IMO anything above 0.5% premine is rubbish. Most of those coins don't go to "marketing and promotion" anyway.