A reminder for those that don't read all pages: the ANN itself says this:
On day five, I asked our group of twelve to start onboarding more miners...
For 5 days, it was mined by only 12 people. These 12 are going to get rich from your buys.
I like how people these days get out of admitting there was a pre-mine. Sometimes it is "oh we were just testing network". But this is a new one: "oh I was mining with 11 friends, so it is not a pre-mine".
If the 12 founders think I'm just being a troll, how about you actually either (1) explain why letting 12 people "early mine" makes for a fair launch, or (2) actually make it fair by burning everything you mined in the first 5 days?
If your answer to (1) is "we posted a discord link in one place, anyone could have joined (even though only like 100 people look at the place we posted the link)", try again.
ALSO:
The next day, last night, a GPU randowhale nearly burned down the network.
The difficulty on your network adjusts REALLY slow. How many blocks did this "randowhale" take? 3000? 5000? Why shouldn't investors be *TERRIFIED* of this guy dumping? This is the REASON every coin should make a fair launch: if the network had been public from the start, your CPU hash would have been a lot higher than 20 MH, and other people would have been working on a public GPU miner sooner.
EDIT: More math:
Blocktime is 1 min = 1440 blocks/day. Yet at the time of this ANN, over 23,000 blocks were gone. So no, it wasn't just a "six day premine". 16 days' worth of blocks were taken in those 6 days (because of how slo your difficulty moves).
Let's be frank and call a spade a spade. What they did was equivalent to a premine. They probably have tens of millions by now and they plan to get rich. If other miners are not bothered by this, then maybe they also plan to get rich or gain some profit if PGN pumps an dumps. So far, there is no clear plan or objective for this coin except having a new algo. Will that change? Who knows? For now we are all just speculating for a possible profit.