I don't know how and why, but Isracoin -- new Israeli Cryptocurrency -- is already on 5th place by market capitalization. It is partially premined, which means that there is a solid part (10%) of the total final supply that is being distributed by some group of people based on their criteria (we don't know either people or criteria). Pre-mining contradicts with basic principles of bitcoin: independance and decentralization. In addition, the national character of this currency (the name associated with Israeli state and the fact that a part of premined supply is provided only to Israeli citizens) contradicts with another basic principle of crypto currencies - globalization. At first glance, besides the national attributes, Isracoin does not have any additional special features that would motivate people to prefer it over Bitcoin, Litecoin, or other crypto currencies.