Quote from: toknormal on June 14, 2014, 12:38:28 PM

Although many still criticise it with 'instamine scam' labels, that is actually just a load of b.s. Even the distribution issue is now getting sorted out because the recent process have attracted high volume off-exchange buyers which have split the original holdings many times and these are finding their way into the lower tiers.

One argument that is constantly brought up is that the original holders made "too much money". I'd like to know what "too much" actually means other than as an expression of jealousy. It's noticaeable that such critics never have the balls to come out and state categorically that it's unethical and why it's unethical.

I can tell you why that is - because an "unethical" distribution would amount to taking money for something which has no market value, or who's market value is about to disappear and that isn't what's happened here. In fact the opposite is the case. No investor since it's launch is down on their investment unless you bought within a tiny timeframe during the last few days when the price peaked - and even then you'd only be down about 10%. Critics keep saying that the original holders are going to "crash the market" and leave everyone penniless and it keeps not happening and has less chance of happening with each month that the currency gets traded.

So all this 'scam' stuff is just empty garbage trotted out by the world-improver mining community thinking they're on some kind of ethical crusade but who are in fact clueless about how markets really work. Thankfully, there's only the odd one left now because the rest are all invested Wink

Well you have your point but I see jealousy as a legitimate human emotion which was evolved for a reason:-) Why do you think people here generally do not approve any coin with some percentage of premine. Plus I do think the initial IPO period was not transparent enough. You will never be sure what was really happening back then. It was a centralized behavior which was against the philosophy of cryptocurrency.

And how can you be so sure the bag holders will not cash their coins? Ripple existed for a long time and just recently one guy dumping caused a major devaluation. Nxt is very young. It is just too soon to assume nothing similar will happen. And you probably will never be sure.