Premine, fair or not


#1

Hello,

On the ETNC (classic) website one can read some nasty things about ETN , about what is wrong with ETN.
They talk about the huge premine and it’s consequences. Electroneum had a 60% premine on block 1 of 12.6 billion. This needs to be explained in order to gain more trust.


#2

Its been explained many many times before.

12.6billion coins were premined on at the start of the blockchain.
https://blockexplorer.electroneum.com/tx/878ec74ff5f305ba30df3bae5f84bc59c8cb8cfbcc3df12f58dd7e646999892b

  • ~7 billion is held in cold storage by a legal firm and released in stages for the Mobile Mining rewards.
  • 5 billion was purchased by users in the ICO and bounty program.

#3

Thanks for the reply,
So why this negative sentiment on the ETNC website?


#4

Good job… @BegaMutex


#5

Looks like they more likely haven’t paid attention to the explanations given before and preferred to think it was premined for no reason… which is not the case


#6

Aha, now then it’s good you explained once more :wink:

Thanks, have a nice day!

Alex


#7

This had been explained so many times.
You need to do some research on what the reason is.
Stop reading criticisms from another coin and blindly believing it, without trying to know for yourself.


#8

Just keep it nice shall we, I try to find this piece of info, but couldn’t find it.
Stopping reading criticisms is paving the way for blindly believing, I never stop asking when I’m not sure.


#9

The more of the market ETN gain the more criticism, just wait to we jump above XRP, then the world will go crazy in criticism. @Alex ther is no dumb question. Happy days