So you're telling me all I need to do to make a ton of money is:
- Create a clone coin.
- Set it to low reward/high difficulty.
- Premine the majority of it and keep those coins out of circulation (and make up a good reason for premining so many to avoid negativity).
- Get the coin onto an exchange/CoinMarketCap.
- Let people gawk over the value (due to the fact there are so many coins in existence but not in circulation, therefor locking in that higher price due to the inability for the public to dump it).
- Coin price will skyrocket due to the stable high price and huge market cap (due to all the premined coins).
Who knew it was so easy? I'd be willing to bet we'll see a few more coins do this before people catch on. Maybe I should get into coin development...
Yes, I do believe exactly that happened here. There is no guarantee it will happen every time though.
There is still a good chance (if people involved are honest) to make it a successful landmark in cryptocurrency history by not messing up the "air drop".