Looks like 50M coins were premined? Thought they said 0.5%, e.g. 5M coins?
aw man... and it looked like such a good coin too
5% pre-mine....
5000*332 =1.660.000 - ~ 1.6m block rewards...
51.610.000= 51.6m = 50m pre-mine.......
1.000.000.000 total coins /100 1 % = 10m /2 = 0.5% = 5m..... and not 50mil
As you can see by PiOfCube's post, by block 9 45M coins already existed. So either they pre-mined ~45 Million coins, or there where extraordinary rewards for those first few blocks that only they would have received.