NO premine. NO instamine.
Yes 10,8% of the full total of coins are in block 1, IPO is just another word for instamine.
Also scrypt is now just a big playground for multipools.
10,000,000 coins were distributed in a presale, it's not a developer premine.
https://presale.viacoin.org/list.htmlSorry but what's the difference between a premine which is used by the devs? and the 370k USD that the devs now have from the presale?
The world of difference. A developer premine is held in the currency. That's a terrible thing for the market because the devs can dump out at any time with a colossal part of market capitalization. RIPple ring any bells of why large developer premines are a bad idea?
Look at the market price yourself so far. Presale bidding was 6102 satoshi and Viacoin is trading at 16,000 satoshi and there's no developer premine hanging over anyone's head. Anyone selling at less than their buy price would be taking a loss.
So you can see, there is a world of difference.
People are prone to rapid panic which is able to sell below the profitability at big loss.