The value of Quarkcoin knowing that big amount was preminted Few hours ago I was looking at bitcoin.stackexchange and found a question about quarkcoin. I was curious to know what is this. Reading a little bit I have found that it does not provide anything new except of:


combining a lot of cryptofunctions in a big ball of mud and calling it super secure
quick block generation 30 secs
more coins to mint
Total of 247 million QRK will be mined in ~ 6 months, after that ~ 1 million QRK p.a. (~ 0.5% p.a inflation)
other small tweaks


And from wiki page it is written:


  Of the 247 million QRK the developers own roughly 85-90% of them.


I am just curious what value does it bring to the table and why someone would like to mint it, if it sounds like it was created just for developers to dump it for some other crypto.
It really depends on what happens to that original 85%-90%. If the developers really own that large an amount, they will always be able to corner the market if they work together.

That idea troubles me, but I still buy Quarks because I see the value in the multiple hashing algorithms.

I think perhaps 85%-90% is quite clever as it puts Quarks on the map a lot quicker. Right? I think this has helped them gain press attention to their increased security meassures, by becoming the 5th largest crypto-currency available. I'm thinking that's an effect of generating so much currency so quickly.

I would expect value to continue to come into Quark, especially after Bill Still and Max Keiser talk about it on the 19th, then again as the new financial year starts around the world and everyone has another panic attack about the state of the world economy.

My point is, after the value has increased for a while and flattened out (if it does), I would expect Quarks to be used as currency earlier than Bitcoin. If quarks go to a dollar in 2014, then that's a lot of currency already out there, and it's not so expensive for people to invest, and not such a big deal when you spend a Quark.

The original holders of that 80%-90% would be more insentivized to spend that currency into the market than if they held Bitcoin (assuming it does not rise too fast).

One thing I really want to know, is how people arrive at the idea that the "the developers" own that much, and how they 80%-90% figure is arrived at. Are they meaning 3 developers, or do they mean 100 developers, 1000? It makes a big difference.

I guess we will have to wait and see if those original developers will put their Quarks where they mouths are and spend enough Quarks into the market on real goods and services, that they begin to circulate and become useful to everyone as a currency.

The way I see it, and I may be crazy, but those original developers would do themselves a huge favor if they got together and re-distributed a good portion of their monopoly as a PR exercise.

It would say a lot. And it would do a lot for Quarks as a currency to have a smooth distribution across the market.