DCgirl I am sad you said had respect, but I will answer this as well. You have not stated a fact, but I will restate them for you.
With the success of CAI so far we have noticed that our premine has grown in value to over 300 BTC. This would have been a great thing
to any scammer dev, but not for me.
I decided to destroy the premine, and remove any future doubts as to the purpose of CAI. We wanted to prove that with modest funds we can create a success. So when we discussed the best way to destroy a premine, we also wanted to add a an extra benefit to our investors at the same time by removing the miner dumping aspect that been plaguing UTC for example. SO a move to full PoS would enable us to implement many changes at once.
- Destroy Premine
- Remove Miner dumping
- lower Max coin cap
- secure our network 100% from ASICS/Multipools
- Move CAI to the next stage by making it a community project
We have a lot of ideas and to have that accomplished we needed to remove the weight of a premine that has become of huge value from the CAI market cap. Some people will think why? because at one point in the near future that might raise questions as to our motives. So if we stayed where we are would you feel safer investing in CAI knowing I have access to 100's of Thousand that I can dump on the market or would you feel safer if I don't? The fact that some people question our decision to destroy premine makes me wonder as to the validity of the question. This should be a no brainer to see how much CAI will benefit from this action that I am taking with the full knowledge that the premine I am destroying is worth more than 300 BTC. I am sorry If I offended you, but I hope you can see these facts and argue anything with me that makes you feel I am doing anything wrong. As far as these changes are concerned, I have met with some of our biggest investors in CAI and they were delighted with the steps we are taking. I did not do this out of personal interest as it is obvious from the facts it's the opposite.
Was the decision to destroy the premine from the start OR after you're called out on it? In the initial announcement of going to PoS, destroying the premine was not mentioned.
And when the community brought it up we couldnt get a straight answer, and you got defensive. So I assumed (like many others) that you were trying to pull a fast one. The lost of trust started from there. I am looking forward to reading a clear and precise announcement today.
@TheStuhlman: The way you handle questions/criticism destroys more trust than you would by keeping quiet imho.
Yup
Do you even read the announcements before you spew your bullshit onto this forum?
As soon as they decided that they were going to move CAI from PoW to PoS they said that they were leaning towards destroying "most" of the premine of CAI, they then announced further details of how CAI will become CAIx and stated that CAIx will have a premine of 2%.