Why are 800k+ coins for dev?
Isn't that a bit much compared to the low supply of ~10k coins per day?!
Isn't that a bit much compared to the low supply of ~10k coins per day?!
Yes.
At current exchange rates (I'm seeing .01BTC on bittrex right now) that's 8000BTC, or roughly $3.6m if he could get someone to buy all of them. I'd like to see someone fork this project with zero premine and have the blocks pay out 80% to fold, 20% to miner, in much the same way devcoin does it. And also, there is no good reason not to merge mine this.
The thing is, nobody had any idea what each curecoin would be worth until people started trading them. Their value is only just beginning to be determined and we only have a few low volume trades to go by at this point which may end up being meaningless in the long term. It could turn out that 800k cure do end up being worth millions or billions, and if so, I'm sure the devs have a plan for what they will do with all the extra at some point. No one has said that they are going to necessarily dump them for cash and keep it all for themselves.
They can and will. Mark my words, the dev will dump and kill this coin. I have 4x R9 290s, 1 280x, and 2x 270s churning on this full time and I got 5 coins in 36 hours. This is why premine doesn't work -- it fundamentally fucks the value of the coin so that it's not longer tied to the amount of energy required to create it.
See below
Why are 800k+ coins for dev?
Isn't that a bit much compared to the low supply of ~10k coins per day?!
Yes.Isn't that a bit much compared to the low supply of ~10k coins per day?!
At current exchange rates (I'm seeing .01BTC on bittrex right now) that's 8000BTC, or roughly $3.6m if he could get someone to buy all of them. I'd like to see someone fork this project with zero premine and have the blocks pay out 80% to fold, 20% to miner, in much the same way devcoin does it. And also, there is no good reason not to merge mine this.
how bout if i say....please read? it explains a lot....https://bitcointalk.org/index.php?topic=603757.msg6688632#msg6688632
^ If you read this you would see that they won't, as it would mean theft and jail for them, so I will mark your words....with an 'X'...as in I'm crossing them out.