If we can not publicly mine and whole lot of coins are generated during that time, then yes it is premine. Yes, my understanding of premine is wide, but anything that is not available to the public and generates coins during that time looks shady.
There are only a few coins which aim for something good. Most of it is just crap and this is one of the main reasons you will see negativity around here. Scamming is based on trust so even if one does not get scammed here, if he/she is too trusting, sooner or later it will happen somewhere. As you can see, miners no longer wish to pre-order hardware due to the many scams. People got more cautious as the SHOULD BE. Blind trust will get their money and/or resources gone for ever.
XPY does not seem to have anything special. The only reason ppl mined and believed is the name GAW and a promise of big returns. If things star getting delayed or a statement/promise does not come through, ppl start wondering if the project will be successful.
There are only a few coins which aim for something good. Most of it is just crap and this is one of the main reasons you will see negativity around here. Scamming is based on trust so even if one does not get scammed here, if he/she is too trusting, sooner or later it will happen somewhere. As you can see, miners no longer wish to pre-order hardware due to the many scams. People got more cautious as the SHOULD BE. Blind trust will get their money and/or resources gone for ever.
XPY does not seem to have anything special. The only reason ppl mined and believed is the name GAW and a promise of big returns. If things star getting delayed or a statement/promise does not come through, ppl start wondering if the project will be successful.
It was publicly minable the whole time. And still is (PoS).
No, you couldn't use your Avalon miner to mine it the whole time. You needed Hashlet miner to mine it (publicly available). GAW mined only PoW phase themselves. The rest was us customers. I am very sorry I haven't moved my coins around yet because I staked half of them, and the rest is still sitting in my original wallet for now.
I believe this is what a lot of customers are doing too, so no, there won't be a lot of coins moving around until Paybase launches.
I agree with you on the trust issue. I don't think anything can be done about it. There will always be scammers. But don't let that make you blind to the good things, like some. Of course, if the horse has a broken leg, don't bet on it. And also, betting on the losing horse doesn't mean a scam. Stop betting, stop winning
Cheers
Merry christmas!