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January 02, 2018, 06:18:45 PM |
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hello dev
drop of further and further down the list... it's the premine killing us...
I really dont understand this anti-premine mentality. Its like the Redcoin 1m coin pre-mine - cryptsy sees it as a con yet I have nearly 1m RED myself just from mining and spending a few $$. Besides that, about half of the pre-mine has already been spent on services. Yet release a coin with no pre-mine and no services, hence no value attached to the coin whatsoever, and cryptsy will list it. From now on, Im going to buy any non pre-mined coins from coins-e by the bucketload and dump them all on cryptsy when their listed. Im still holding 1m goldcoins I bought cheap from coins-e to do just that once the price is good Grin
Well if the premine is reinvested into services/etc it isn't as big of a con. For example, Cryptogenic Bullion was added to Cryptsy early despite the modest premine...but they keep a public ledger and have giveaways/contests all the time. For example, I was recently paid out for changing a couple settings and entering the logo contest. You can see exactly where everything is going without any secrecy via the ledger.
With Elephantcoin, nearly 25% of the coins out there right now were premined and there are very few services out there (like was mentioned earlier in the thread, the only pool is a pushpool averaging around 5 MH/s.) There is no public ledger...and the dev never defends the premine (other than responding with anger when anybody questions it.) The dev isn't interested in helping out the ELP community (and in turn, himself) -- he would rather ride it out and hope that once ELP has some real value he can dump all of the coins he premined to make a quick buck. It's obvious the dev premined this coin strictly for profit. Have you noticed how defensive everybody is when anybody mentions the premine? They're likely in the dev's backpocket.
When all of these new fair-release coins are rolling out with better features it's hard to justify adding a heavily premined coin that hasn't really done anything significant since launch. The further along things go the less the premine will matter...but if we're being honest it's only a small group of people mining ELP and waiting to dump it at the first real opportunity (me being one of them.)
I suggested earlier in this thread that the ELP dev create a public ledger and start handing out bounties for some cool services/etc to add value to the coin and make it more attractive to mine, use, and list on exchanges. Everybody in this thread jumped all over me for it...which is right around the time I gave up on fighting for this coin. If it survives, great...but with the attitudes in here I'm thinking it's probably toast.
Like I've always said, a large premine is senseless now because it devalues (or even kills) the value of the coin! If the premine would have been half as much, ELP would probably be on Cryptsy right now and trading for 5 times as much as it's trading for on Coins-E. These devs just don't think it through and refuse to do anything to better their position. I'll probably get a dozen angry responses to this honest, no-nonsense post.
Ok I wasnt aware the ELP pre-mine was being with-held though I havent seen many services offered for it either so cryptsy is justified in not listing it as yet, however there have been other coins that have been pre-mined and they have been listed recently. Theres just no consistency.
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