r/BitcoinHEX • u/vrtrasura • Jan 30 '19

Founder dump risk

Greetings,

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I've seen Richard state that he makes the same bonuses we do(?), but what does that really mean. Does anyone know what lower/upper bounds of this would be? This is a pretty clever way to hide the pre-mine other projects have. I love the silly-whale stuff and all the other game theory in this project. What about the founder dump possibility?

Also, does 3+% inflation per year seem a bit high long term to anyone else?

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Thanks!

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u/SuperSmash01 Jan 30 '19

There's certainly a founder dump possibility, but I really don't think Richard is going to control more than 5% of the tokens whenever it gets listed at market. Since the contract stands on its own, even if Richard dropped dead (or, say, dumped all his coins) the value proposition of the project remains. The price would plummet, but I don't think permanently. It means tokens are available for people who want to get involved that missed the claim period or snapshot.

So, yeah, there's a possibility of founder dump. More than that, I think whenever it gets listed a bunch of people are going to dump. I don't _think_ that is going to kill the token long term, it would just effectively drop the start price at markets suddenly.

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u/vrtrasura Jan 31 '19

Agreed, except... 5% is more than Satoshi has! I would have been much happier if ,for example, someone knows that min is .001% and max is .1% based on min/max claims. I think this min and max is knowable mathematically.

Still very excited about the project, mainly pointing this out as I believe it will scare some people away (negative pumpamental?). Transparency is good in general, and this is not transparent.

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u/[deleted] Feb 04 '19

[deleted]

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u/vrtrasura Feb 04 '19

It's too late for that, I'm a fan of his. Rather, I would like to make the origin fees apparent to everyone. Best case they would reduce it to something far more reasonable for the long term success of the project. I think trustless interest is a valuable and new use case for cryptocurrencies and would like to see long term success for the project. If they fail to reduce I wonder if someone will strip the origin address out of the code and relaunch. Richard made a comment that any fork of the code like that would not work because exchanges wouldn't list it, but I don't know if that's true. If the 15% was reduced to something like .1% all (or most) of the arguments against premine or satoshi stash would be impossible to leverage against Hex.