Quote from: kryptologist on September 25, 2014, 03:54:36 PM

Quote from: sumgye on September 25, 2014, 02:11:58 AM

Quote from: kryptologist on September 25, 2014, 12:00:46 AM

why would PINK coin associate themselves with a premined ICO scam?

Because we're confident that it's not a scam. Cryptzo is a friend of mine in real life, I've known him for 5 years. He's an apt and capable programmer, and I've been helping him with this project.

As for POD, he can correct me if I'm wrong, but I think he would prefer to stay anonymous. I'm willing to complete POD on behalf of SEED if that's what the community here wants, as I am a contributing developer on the project, but I have to make clear that my primary interest is in developing PinkCoin. With SeedCoin, I'm more or less just trying to help my friend that I've known for years with his project, and the PinkCoin team has agreed to support that decision.

Ultimately I believe the primary reason for the Proof of Developer program is to provide the community some security in their investment, because we are all tired of scams. I know Cryptzo personally, and I assure you, as I have assured my team, that Cryptzo is capable and trustworthy, and I personally guarantee the legitimacy of this project as it's been described.

All ICOs are scams by design. The developer can buy as many coins as they want for free, its just a sneaky way for scam developers to do a premine. The dev can easily buy 50% of the coins, 90% if they want to with no risk because they are buying from themselves.

Anyway thanks for the info, I just dumped all my pinkcoin.

This is precisely why I've asked the pinkcoin team to handle the entire ICO procedure. The website is controlled and managed by them in their servers. There cannot be any foulplay or "premine" from my end. They have accepted to placeed their good name at stake only after fully reviewing the code. All BTC and SEED transfers are verifiable in the blockchain, so the question of "buying from themselves" does not arise. If I want to purchase seeds from the ICO, I would have to pay up through the website like everyone else. I hope I have answered your queries to satisfaction.