Quote from: GullibleGooo on April 22, 2014, 02:15:56 PM

Now I have NGC... So, please explain how I go about showing Proof of Burn? And, it would be good to hear what is the point, why should I bother? I like your idea, the innovative approach and would like to support NGC, but I am quite new to this so please take a moment to be explanatory.

As far as I understand it, the proof of burn (destroying some of the pre-mined coins) negates a bit the bad effects of the premine. The dev said the premine was 47% which is a lot, so destroying even some of these coins as time passes is better than leaving them.

OTOH having a large pre-mine and then leaving the coin may lead us to think that there was a dump -- I didn't bother to check and investigate this in the coin chain and I hope the dev is still around and will be supporting the coin.

But I'm just a user, not the dev, so maybe the dev should address these questions about proof of burn.