It was miners who dumped the coin not the devs.

The market got dumped hard as the cracks started to show in the facade that TeamAIRcoin presented to this forum.

Their trading bot/algo bot or whatever couldn't take the pummelling it got from the sell side on Poloniex and their claims of stable market, rising exchange rate then went out the window. They didn't have the necessary BTC to support the dumps that can happen when early miners decide to exit a coin.

Why didn't they have the BTCs to back their strategy?

They came across and presented themselves as if they were a team from a big investment house or the like, which one would assume had some serious funding to back up their claims.

The wheels really fell off the cart when they revealed that they are not a team from some big financial player but are in fact students at a University, newbies to cypto and appear to be using the coin/miners/exchanges/investors as an experiment in their economics class.

So it appears they are not out to scam us by dumping the premine, they're just naive UOC students trying to figure out another way for cyrpto to work and trying to do their best in school and get their MBA.

Open Source crypto is all a bit of an experiment so not totally out of sync there.

Sounds like they're reviewing their plan and hopefully will be back in a couple of weeks.

How they are going to fair against the more seasoned coin devs and miners only time will tell.

Mining Hirocoin now. Rising exchange rate on https://www.poloniex.com/exchange/btc_hic at the moment and is getting more attention by the hour because of the use of X11.