Quote from: dongle on July 11, 2014, 09:08:40 AM

I don't believe will be successful,Not a revolutionary

Perhaps you should reserve judgment until the Proof-of-RAM specifications are released, at minimum. Griftcoin will be the first coin on the planet to implement this technology and it will benefit both distribution and security in a way never seen before. This is just one of many ways Griftcoin will set the bar.

To those disappointed about the IPO, perhaps you should approach things realistically. Typically, with coins that have a limited/brief PoW periods followed by 100% PoS, initial distribution is determined primarily by rented hash power and/or massive mining farms. By offering a 50% IPO, the funds can go directly toward development, marketing, and all of the other components that will be outlined in our upcoming business model without affecting the value of Griftcoin negatively (as would be the case, typically). We believe this is a better use of funds from both our perspective, obviously, but the investors as well - instead of simply dumping their funds into power and hash rental services those same funds go toward strengthening Griftcoin and solidifying its future.

Another bonus for investors is that there will be no premine (which negatively affects value for a number of reasons) - instead, the development team receives a cut of all PoS after 180 days (as outlined in the original post). This provides a consistent, steady flow that can be likened to vested stock options while also eliminating potential concerns for a dump/etc.

Of course, by implementing an ASIC-resistant (and, to our knowledge, first ever) X17 PoW period for the distribution of 25% of the max supply, we are fusing together a powerful blend of distribution methods that will reach further, diversify more, and offer options for everybody.

There are thousands of options out there and we are truly offering something unique with a distribution model that was thoroughly calculated, debated, and adjusted before locking it in. No coin is one-size-fits-all - Griftcoin is no exception - but the argument could be made that Griftcoin is as close as it gets.

We hope you continue to follow the thread and learn more about what makes Griftcoin so stimulating as we make additional details available.