Post
Topic
Board Announcements (Altcoins)
Re: [ANN] ✪ Silkcoin ✪ 2 POW stages->Full POS - Beautiful UI, Full time devs ✪
by
judgecrypto
on 11/05/2014, 17:16:36 UTC
Has the dev pulished his premine address yet ? I think we need some transparency.

Why so concerned with Premine .. blah blah.. This is a solid coin.  How big could it be?  7 day PoW with no block halving?  and the second PoW stage is not even done yet!  The total outstanding coins so far are less than 10 million of of a MAX total of 100 million... so cant be that much premined... nothing to see here...

Yeah, you are right judgecrypto. It's totally unimportant to have some open ledger premine. It's better the dev  doesn't show how the premine wallet is filled or emptied. Did we ever see a dev scam the community with the premine, I don't think so, did we?


That's exactly why the BTC protocol was built in the first place. To get away from placing trust in a 3rd party for accountability, placing it instead in to a publicly distributed ledger.

If you have 4.5 BTC you could buy the equivalent of a 2% premine.  So really any early adopter can get a large stake.  What makes the coin fair is there is no large block up front with block halving that only the early miners can get.  The prices are ridiculously low right now.  I have a couple hundred thousand I got from using Nicehash and Bittrex.  I only found out about silkcoin from IPOMiner.  So this is a totally fair launch!