Why does it matter if a coin is premined? Bitcoin was premined

he only mined the first block...
and he never used any of his coins

Most coins is premined to a certain degree. Which is absolutely fine.
It is the amount % of premine that matters.
I.g. Chancoin. The creator premined 9 million coins, which is like a 3rd of all possible coins ever mined.
Now just imagine a single person (satoshi) would hold 7,000,000 BTC. That would be $17,000,000,000 worth of bitcoin. He could (and probably would) crash the whole market at any time to become filthy rich and destroy the project at the cost of all other holders.
Chancoin say they destroyed 3 million coins and distribute the rest to devs. That means (on the btc example) they would destroy $6,000,000,000 and if there are 10 devs, each would still hold more than a billion dollars worth.

Public Mining generally ensures a fair and slow distribution.

>>2774345
Is the Decred premine bad?

>>2774345
Satoshi holds 1 million bitcoins.

>>2774444
Which is an issue!

>>2774423
I haven't looked into it. Any details?

>>2774467
8% premine. Half went to startup costs, other half was airdropped. Doesn't seem like a big deal to me, but it's the main argument I hear against holding it and I've got a pretty big stake in it.

>>2774501
Doesn't sound like a scam but reasonable. I don't know about the mining of it though.
A good way to look at this number (applicable for any coin):
-what is the current circulation amount
-how much was premined
-how was it distributed (rich list)
-how many coins will be around once mining finishes, and when
-what is the goal of the coin / how much could it possibly be worth (reasonable expected market cap)
-how much would the devs stack be worth then in dollars
-would it be worth dumping this stack and could it harm the project

>>2774423
Doesn't bother me since half went to airdrop, and supposedly the devs did most of the development out of their own pocket to start without a scammy ICO.

>>2774800
Thanks. I like this bag.

>>2774289
Premine is when you mine before launch
Satoshi mined the first block when he launched to coin = no premine

There weren't any coinfags at that time, so the first to mine where cypherpunks