EVERY SINGLE coin with a premine and/or IPO requires a certain amount of trust in the developers.  Period.  This is why I usually don't invest in premines.  With CAI, I decided to trust and invest.  The change to proof of stake has not substantially changed anything about this coin with regards to the premine.  I asked Stuhlman in IRC if the premine would be allowed to mint coins, and he said no.  I still think something needs to be done with the premine to substantially reduce or remove it as a threat, but then I have always felt that way.

If you don't want to invest because of the premine, fine, but its not a "scam" until they sell the premine on the market and screw us all.  If that happens then you guys can laugh until your blue in the face.