Takeoutcoin has been born. This new scrypt coin was launched yesterday and is now being mined. What’s interesting about this new cryptocurrency is their choice of using a 50% pre-mine, without the benefit of being a so-called ‘country coin.’
As you may be aware, 50% pre-mines help inflate the currency value of a new altcoin, because the coin is born with half of its total float already in existence. Anyone who has ever witnessed a quick run-up for a brand new country coin has seen the effect such a huge pre-mine has on the world.
An Altcoin For Takeout
The ostensible purpose for Takeoutcoin - as you may have guessed from the coin logo and name - is to help facilitate cryptocurrency in the takeout ‘food delivery’ commerce segment.
TOC was met with the usual skepticism by Bitcointalk members such as btcrising, who said: “Copycat coin? I don’t see anything special. Also 50% premine for even more dubious purposes than countrycoins.”
Pre-mines have long been a controversial subject for obvious reasons. With 50% of the value concentrated in the hands of the developer, it’s possible that person could dump at will - which would destroy the value for other holders. However, this hatred of pre-mines has been giving way to greed lately as early ‘pump’n’dumpers’ have learned to get in and out fast enough to avoid major bag-holding catastrophes.
Block Rewards Are ‘Random’
According to the Takeoutcoin ANN thread, block rewards are random. So, much like takeout delivery, miners will never know exactly what reward they’ll get for solving a block.
Max Coins: 210,000,000
Block Time: random
2 - 25,000 : 80 TOC
25,001 - 55,000 : 40 TOC
55,001 - 105,000 : 20 TOC
105,000 + : 10 TOC
50% Premine (105,000,000)
Default RPC Port:18638
Default P2P Port:18639
If you’re a big fan of takeout and can stomach the taste of a 50% pre-mine, you can now begin mining. Takeoutcoin is here!