Post
Topic
Board Announcements (Altcoins)
Re: [ANN][2POW] Luck - A new consensus algorithm to eliminate large mining pools
by
stas333
on 25/08/2020, 16:10:58 UTC
I think the premine needs to be burned in several stages. choose the day on which the burning of coins will occur, as well as the number. And if between the intervals of the burning stages, it will be necessary to give some kind of reward to the community member, or other costs, then the developers must explain for these transactions. I think that every week, for example on Friday, 20,000 coins should be burned. And until the entire premine is burned, the coin should not go to the exchange.
Any premine leads to depreciation and centralization. Anyone who knows that someone controls more than half of all mined coins will not trust this project. 300,000 premines is just a huge amount in which the reward itself is only 3 coins per minute, in addition, the developers have a constant income of 5% from mining, which should also stop at one of the blocks in a year or two. And I also said that if there are expenses for any activities, they must explain them and we must openly see what they are spent on. Therefore, the premine must be burned in several stages.