Post
Topic
Board Announcements (Altcoins)
Re: Pandacoin (PND) - 12 days til POS [Multipool | NO PREMINE | NO IPO | Scrypt | KGW]
by
Alt_alarm
on 09/05/2014, 16:52:21 UTC
Hello, i am Alt-alarm, to alarm people from scam.

I did analysis on PND, and find it a big scam.

Recently POS was added, the POS PND is not 0% premine, instead, it is 95% premine before the announcement of the POS.

When you change it from POW to POS, you are making a new coin (see C2 and NC2, CAI and CAIX),
the POW PND is a copy paste of litecoin without premine (i do some homework, it is complicated because of the 3 Pandacoin), but the POS PND has a premine.

Premine is before the public are able to mine a coin, the coin can be mined by some people or group. Before the public can mine this POS PND (less than 2 billion coin left), a small group already premined almost 30 billion POW PND, before the annnouncement of the POS PND, this is why it has premine.

With such high premine, this PND is a scam comparable with the recent premine scam in Asiacoin.

As a conclusion, i suggest forum member do not touch this coin, after this pump, they will cash out, and the value will decrease fast. Some good POS coins with little premine or even no premine exist these days, i recomend to look at those coins.