daydreamtrader said:
Wow! 50% premine... Is that set in stone...? It seems a little high... It will probably work out because you guys have such a great following, (including me. I listen to every episode that comes out the day it comes out) but as a normal invester would never buy a coin that was premined too such an extent... Even if I trust the people who receive it not to sell them off... Just saying... why not premine a little less to try to attract more investors? Or is it just that if you premine at all you might as well go big?
Much Love,
Griff
There is a five year, weekly distribution schedule and the coins are not computationally mined at all. This is a user created asset and new coins will be created once per week and distributed to Content Creators, the Audience and the Platform each week.
We actually aren't using the coin to fundraise, if you want to buy sponsor time on the LTB network you can buy LTBcoin from someone who got it through one of the distribution methods. I'm not really sure you can fairly call this a "premine" so much as it is non-computational mining.
There are rules that govern the distribution, and they favor nobody in particular. There will be a small portion (less than 1%) devoted to people who created content over the last year without expectation of compensation, but that's really just back-pay for the people who got us to where we are today.
User Created Assets are a new thing, and they're not well understood - Does this clear anything up for you?
