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>Consider them all schemes to lure money into the creator's wallets Some launches, like Dogecoin's, are done ethically with no pre-mining. Look at the coin cre
by mcantelon 13y ago
>Consider them all schemes to lure money into the creator's wallets
Some launches, like Dogecoin's, are done ethically with no pre-mining. Look at the coin creator's launch plan and if they violate (as the recent Coinye coin did) take them to task for it (Coiye crashed and burned).
- ptmx 13y agoIt's effectively the same thing, except that the set of people at the top of the pyramid is larger. It's still most lucrative for the creators, it's just also highly rewarding for the earliest adopters.
- mcantelon 13y agoHow is it more lucrative for the creators than the early adopters?
- ptmx 13y agoI can see how my post left room for misinterpretation; my intention was to express that the creators are in the set {people for whom it's most lucrative}. The earliest adopters are in the set too, obviously. Put differently, my point is that "ethical" launches are simply good marketing, and are quite compatible with the sentiment expressed upthread that "[altcoins] are schemes to lure money into the creator's wallets". If a given coin becomes popular, the creator is going to profit immensely from it whether or not they engaged in pre-mining. By doing an "ethical" launch, they're making it more likely that the coin gains significant adoption, albeit probably decreasing the expected size of their payout. That seems like a smart play, given diminishing marginal utility of money, etc.
- deleted 13y ago[deleted]