Re: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine
need a miner for amd's gpu 
Or someone could just fork the coin, give it a decent name like minibit or microblock, and replace the m7 algo with dual merge mining sha and scrypt like huntercoin; or even better triple merge mining with qubit or something gpu friendly too, to give the coin a wider distribution. I don't see the reason here for a new algo (m7) except to have private miners, so that a select few can have a mining advantage while the block reward is at its maximum.
The early miners only got a small amount of coins(Less than 1mill). Around only 5million coins have been mined so far(1 month after the first day mining incident) , and the total supply is 1.8billion.
You're right, I'm not trying to exaggerate and make it sound like a huge problem - the coin is emitted over a very long period of time. However, it's not really incorrect to say that there was and probably still is private miners when the block reward was at its maximum either, since the reward is constantly decreasing. I mean, there's no premine, so gotta get your coins somehow I guess, but I don't see any other reason for not just going with an established hashing algorithm, if not merge mining with one or several of them.