locking coins, premine, instamine
Posted: Wed May 28, 2014 3:27 pm
Which one is worse ?
Reading about announcing to drop 9 billion Ripples on the market and other problems:
http://www.cryptocoinsnews.com/news/rip ... 2014/05/23
http://www.cryptocoinsnews.com/news/rip ... 2014/05/26
then about blocking the coins of the former founder I am asking what is worse.
To let the prices go down or to deliver 'proof of centralization' with blocking coins ?
Having such a huge amount of premined coins is a bad concept as it is like a Damocles sword above the head of the investors.
This is not very different with Ethereums planned premine or Darkcoins instamine(2 million in 1 day with limited client availability).
The holders of such of amount can any time drop all premined coins on the market and crash the coin prices. Even if they have a lot of innovative features a wring mining concept, strong premine, instamine or very fast maturity like Dogecoin has can ruin the coin on longer term.
Reading about announcing to drop 9 billion Ripples on the market and other problems:
http://www.cryptocoinsnews.com/news/rip ... 2014/05/23
http://www.cryptocoinsnews.com/news/rip ... 2014/05/26
then about blocking the coins of the former founder I am asking what is worse.
To let the prices go down or to deliver 'proof of centralization' with blocking coins ?
Having such a huge amount of premined coins is a bad concept as it is like a Damocles sword above the head of the investors.
This is not very different with Ethereums planned premine or Darkcoins instamine(2 million in 1 day with limited client availability).
The holders of such of amount can any time drop all premined coins on the market and crash the coin prices. Even if they have a lot of innovative features a wring mining concept, strong premine, instamine or very fast maturity like Dogecoin has can ruin the coin on longer term.