grarpamp grarpamp at
Sun Jun 7 22:50:05 PDT 2020

> I would not call it premine, just mined, the network is running and mining.
> Premine implies that the genesis started with allocations

That's one form.

Another form is, as before... mining after genesis only by a
select group of internal/closed/invitee people, not publicly
announced till later, and not reset upon such announcement.

Another form is... ASIC companies mining before selling and
shipping the HW to users, and early shipping in qty to select
purchasers, not telling general public buyers they are doing this,
getting shafted with a partially mined out "new" die process.

All three forms, of which there are probably more forms,
are often frowned upon by large portions of the crypto space.

Some claim it is free market to do.
Others choose to boycott.
Both have their arguments.

But for every form, it do cause some controversy,
that probably could be avoided from the start.

The facts of how and when certain announcements,
coins were generated, distributed, held, taxed, etc
in some of the various coin projects are known.

Lots of coins did preallocation, founder taxing, and various
garbage-for-gold IPO scams.

USPS mined with some private and invitee people after
genesis before public posts.

Satoshi posted to a pretty big public list of people, then a public genesis
moment, then all public everyone including his own "self, and investor
pay[back] purpose" were fairly mining publicly from that date onward.
There was no private/invitee period after genesis before public post.

Users could treat as color premined coins in a public crypto,
but that is hard to do in practice.

In a privacy crypto, or one with privacy elements, projects
would even more want to meet some rather honorable ways
to all the crypto space regarding their release process.

Since at least 2013 there are pretty well recognized large
announcement channels in each constituent and offshoot area.
There might even be BCP now on how releases should
maybe be done to help avoid some controversies.

Many coin projects users still have weird feeling about "fairness"
of release process that might naturally be holding any of those
coin projects back from what would otherwise be stronger adoption.
Many coin projects still struggle with the issues of their own
history regarding choices about money they gave themselves.

Just like banks that add a zero (0) doing fractional reserve lending.

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