Quote from: mother_goose on October 16, 2014, 04:08:46 PM

Quote from: Brito on October 16, 2014, 04:36:09 AM

https://bitcointalk.org/index.php?topic=522235.0

Quote

Auroracoin https://bitcointalk.org/index.php?topic=446062.0
Botched distribution statistics and a dumping dev. One of the great premines in crypto history.

I have been following the thread "operation Shitcoin cleanout" (@muddafudda's post) from the start. It is valuable where it keeps you alert, but for the rest it is plain negative. Ever wondered what @muddafudda is trying to protect ? or to destroy ?

Every initiative to elaborate the cryptocoin ecosystem is to be cheered.
Even if a countrycoin would be 100% premine, owned by a single developer it obeys the rule that he cannot print more of them. If he convinces his fellow countrymen to accept the coin, he will have less and they will have more. It is as simple as that. If you envie him then make your own coin and try to make it better. If you convince me I will buy it ! And that will my descision.

What I see here is a foundation that has no intention to keep a penny of their premine. Keep up and learn them what is the principle of real money !

Every initiative to elaborate the cryptocoin ecosystem is to be cheered.

I don't agree, a lot of them are scams and create a negative image on cryptos. Once people get taken for a ride some of them may never return and tell there mates about the bad experience they had.
"Just stick to bitcoin"

Even if a countrycoin would be 100% premine, owned by a single developer it obeys the rule that he cannot print more of them. If he convinces his fellow countrymen to accept the coin, he will have less and they will have more. It is as simple as that. If you envie him then make your own coin and try to make it better. If you convince me I will buy it ! And that will my descision.

Scotcoin is proof 100% premine doesn't work. It has no volume. Unless you bringing out serious innovation that would require a lot of investment it won't work. When you have a premine everyone expects the holders of the premine to do the work.

What I see here is a foundation that has no intention to keep a penny of their premine.

How do you know that? A foundation is just a pretty name for a centralized entity (like a bank) , this type of structure does not work with crypto principles as it puts all the trust in one or a few individuals.

So to get back on topic of my initial response, we need 1 countrycoin to succeed for others to get investment again. A really good recent example of this is CANN, now all the weed coins are getting attention.