don't see why the price is falling
Instamine SCAM
0.8% mineable before KGW kicked in, no multipools or large miners at the start that we could tell. So a small share of the overall coins to a decent spread of individuals to kick start the market.
Here's the thing, this made coins available to the first miners and cheap coins to those who wanted to buy in. More coins makes them cheaper on the market. Competition between exchanges makes new coins turn up early on so people do not have the chance to hype up coins any more to sell on the forum and with the abundance of new coins people are loathe to put much value against them anyway. There was a chance for people to get in who mined and who bought. You may not agree with this but it has worked well for others. Take a look at Litecoin's early blocks and you'll see they are no different.
You can disagree with the way we started but it does not make it what you say it is. There is no perfect way to launch a coin but I like to think that Hirocoin did pretty well compared to others.
the problem was the launch date(7am or early for euro) without even an ann, not the instamine itself