Re: Pandacoin (PND) - 12 days til POS [Multipool | NO PREMINE | NO IPO | Scrypt | KGW]
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.
Well said. But I wouldn't call this premine, it was stealth mining when no one else wanted to mine it. And when you have 30 bil you can move market as you wish. They dont cash out at this point its too early. But at 100, 200, 1000 satoshi... 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.
But similar thing was with bitcoin. Group was mining at low diff when no one knew what was going on and then... price "went up". So you can call all crypto market as scam not only this coin.