Re: [ANN] Gaelcoin - Ireland's first Cryptocurrency - Launch 07 March 2014
Gaelcoin is Ireland's first Cryptocurrency - Based on the latest Litecoin fork it has the potential you want to expect from an Alt Currency
Launched on 07/March/2014 at 22:00 GMT
PoW Algorithm: Scrypt
Retarget Time:
Block Time: 2 Min
Initial Block Reward: 50
Max Supply: 650 Million
Premine 1%
1 % pre-mined
for marketing , merchant services and payment for future development
This is a common scam tactic.
High max coins + low reward + premine = SCAM
It will take 180 days to equal the premine that the dev is taking.
Quote
2min blocks = 720 blocks/day
720 blocks/day = 36,000 coins/day
6,500,000 ÷ 36,000 = 180.55 days
Think about that. After half a year, the entire mining community will have only as much COMBINED as this one person holds in his wallet.720 blocks/day = 36,000 coins/day
6,500,000 ÷ 36,000 = 180.55 days
Not to mention this coin is "irelands currency" but there is no premine to give to the people.
So its a coin for the irish people but not owned by the irish people.
You fucking people need to call this bullshit when you see it instead of supporting and propagating this crap.