NeuCoin Presale Raising More Than 2,000 Bitcoins

Journalist:
April 29, 2015

NeuCoin, the highly advertised “2nd Generation Peercoin Fork,” has seen a lot of attention lately, particularly from investors. Within the first eight hours of its pre-sale launch, 50 million of the 100 million NeuCoins being offered to the public were sold, raising more than 2,000 BTC.

In more interesting news, NeuCoin’s backers decided to reduce the maximum buy from 200 to 40 BTC, and at present has seen an average of only a tenth of that. Calling this move an “anti-whale” measure, the purpose is to prevent consolidation of the currency into too few hands, thereby making it more difficult for a few holders to rule the market, potentially dumping it on a whim.

“Raising More In Half a Day than Factom Raised in a Month”

NeuCoin’s founders mentioned an interesting point that their pre-sale had done better than Factom‘s in a fraction of the time. It should be noted that several large tech players have invested in NeuCoin’s success, including Uber SVP Emil Michael. They noted that they were also every bit as successful as Ethereum, the cryptocurrency platform that aims to be much more than a simple alternative cryptocurrency.

The total pre-mine of NeuCoin is 3.3 Billion coins, and of that, only 100 million are being sold to the public. The distribution heavily favors two entities within the NeuCoin group: the Growth Foundation and the Utility Foundation.

The “stake” or “interest” rate to holders of NeuCoin will start high and gradually drop off as time goes on, rewarding holders for holding the coin in the same way that any other proof-of-stake coin does. A representative from NeuCoin said:

We’re happy that there’s so much support for our vision to bring an easy to use cryptocurrency to the masses through micropayments and freemium distribution. Our main goal of the presale was to involve as many people as possible. Now that we’ve already sold half of the presale supply, we’re lowering the maximum buy from 200 BTC to 40 BTC to slow down and make time for as many smaller buyers as possible.

The cryptocurrency space gets more complex every week with the addition of new and interesting coins. NeuCoin seems to have at least partial support of the Bitcoin sphere, and perhaps this is owing to its professional approach to marketing and development. NeuCoin’s initial pre-sale ends today, April 29th.

Update from Neucoin:

3,300 Bitcoins were raised during day 1 of the presale. Funds are getting transferred at this multisig address: 3MrNuksZ1VePU3dGiSQFiouWerJUJgDkfH

Last modified (UTC): April 30, 2015 10:01

Tags: peercoinUber
P. H. Madore @bitillionaire

P. H. Madore has written for CCN since 2014. Please send breaking news tips or requests for investigation to bitillionaire+phm@gmail.com. He lives in Maine, USA. A single father of four young children, he does not discourage financial donations, provided they do not come with strings attached.