Quote from: iamnotback on March 23, 2017, 10:28:15 PM

Just took a closer look at Byteball's distribution scheme (because someone posted and ask me to) and realized the developer did a sneaky form of premine (he wasn't totally honest and transparent):

Quote from: iamnotback on March 23, 2017, 10:04:20 PM

The first round of Byteball was awarding 1 GB for each 0.7 BTC. The 4th round is only awarding 0.0625 GB for each 1 BTC. So apparently the distribution is nearly completed.

So the developer/creator of Byteball (named Tony) was very sneaky. He said his premine for himself was only 2%, but in effect it will be more than 10% (currently 14.6%) because less than 20% of the total planned supply will ever be issued.

I have nothing against the developer taking a premine for himself, but deceiving the community and obscuring the level of the premine is not what I expected from Tony. I thought he had a high level of ethics. He is acting like he is being altruistic by distributing it for free to existing BTC holders, but in reality he devised a scheme to obscure the computation of his actual premine level as percentage of the actually issued supply.

Note Iconomi apparently got another roughly 15%, so nearly 30% owned by just two entities.

what are you talking about?
Tony keeps 1% for him and this 1% doesn't take part in 10% for bytes distributions. Just read announcement.

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