Bitcoin Forum

Oh noes! My MemoryCoin grant has been defunded. I'm on strike.

UPDATE: STRIKE OVER - My grant has be refunded.

The strike deserves some explanation. It's my attempt to shape the culture of the coin.

If interest payments (owners voting to receive grants) becomes the dominant use of the grants system, well that's an interesting feature for a cryptocoin, but will be dominated by a coin that simply awards interest payments in the blockchain. That would be much fairer and simpler. MC with wither and die in the face of such a coin.

If grants are awarded to developers, foundations, services and projects in the best interests of the coin overall, the coin has a chance to become very popular because an ever increasing amount is used to support the coin in a virtuous cycle.

However coin owners have been tending towards voting for interest payments.  Where this happens, a simple result follows - fewer projects, services etc. I don't think coin owners understood this and I wanted to provide a concrete demonstration. I think strikes, both indivdual and collective are the only mechanism we have at the moment for regulating interest-seeking behaviour.

As for being immature and greedy - well MCs are cheap at the moment, if my primary goal was to accumulate a large portion, I can just cut back on the mescaline a little and buy half the supply. But my goal is to own a small amount of a coin that grows very big, not a big amount of a coin that stays very small.

Thanks for your support. I hope we don't reach this pass again.

Is this coin dead??

Please, tell us more.

Sorry to hear that....but I did vote fore you...would it help if I vote again?Or vote with less satoshis?
How many votes have you got? And how many do you need?

I have no idea what any of this is about. Non-contextual topics, hooray.

Hi Bahama,

Thanks - what's your MC address, I'll look into it and let you know.

M8m7Zy1xdizyayKgK5B5FYCMiaN3rDi1Zd

I voted on the 15.08.2013 with 9 satoshis

Here are your voting preferences . . .

->Balance:399 - M8m7Zy1xdizyayKgK5B5FYCMiaN3rDi1Zd
--Preference 1 7 MVTEoEot8ZGKWmDi8pZS6tJMHR5ba9MnNN
--Preference 2 9 MVTEoEo5LgYAMVh95oBBfGPj2eCDzkuJC3

---->Wasted:399 (Add More Preferences)

Neither of your voting preferences is being elected so your vote is being wasted.

To change me to your first preference you should send 5 satoshis (0.00000005) to MVTEoEot8ZGKWmDi8pZS6tJMHR5ba9MnNN

That will change your preferences to

--Preference 1 9 MVTEoEo5LgYAMVh95oBBfGPj2eCDzkuJC3
--Preference 2 12 MVTEoEot8ZGKWmDi8pZS6tJMHR5ba9MnNN

Also, please support the MCF Foundation by sending 15 satoshis (0.00000015) to MVTEoEoXmYzFydRfg5uNJRewt9tZ329fAN

That will make it your third preference, and your vote will look like

--Preference 1 9 MVTEoEo5LgYAMVh95oBBfGPj2eCDzkuJC3
--Preference 2 12 MVTEoEot8ZGKWmDi8pZS6tJMHR5ba9MnNN
--Preference 3 15 MVTEoEoXmYzFydRfg5uNJRewt9tZ329fAN

Thanks for your support!

But you own about 40% of the first 100,000 coins.

Please explain why this is not enough.

Ok, I did as you sad I should...hope this helps :)

How did you get my information? Balnace etz. ? Is that possible over the cosole, if so what command do I have to use?
Would apreciade it if you could fill me in on that :)

What, realy, where did you get this info from?

~6%

MCF has reserves of about ~3%

I reckon there are 3 owners with around 10% each.

Hi,
Without some context the reaction doesn't look like the most mature one....


OTOH, I really think that we need some kind of documentation about how those grants work and how to find out the options to vote and how to vote...

MC

Sorry, FT, so you have 9%...
I thought it was yourself + 2 Foundations in the Top 5 receiving grants...
Which would add up to > 30% (I've asked before what your holdings are to clarify this, FT).

(1)  I believe Founder should be properly compensated.

(2)  Until today, Founder compensation has been murky and obscured by Grant System.

(3)  Real question =  What % of the 2,000,000 coins should Founder receive?

(4)  I have absolutely no problem with 10% range = 200,000 over one year...
But really depends on Alt Coin Culture here... and ** where line between Legit and Scam is **.

(5)  Get rid of the Grant System... it gives me a headache... and looks shady.

(6)  Rule #1, #2, #3, etc = KEEP IT SIMPLE.

I'm sure this can be negotiated... and put to a series of votes (I have 2% BTW).

I just sent 3 satoshis to your address. which should place you in my number 1 preference. i think. would you please check up on it?



MNBETvfQMJofkwPXAu5ASH147KTCeDbSaL

As I understand it,   FT started with the  Memory Coin Foundation Address.  Later, when most of the grants were going to unknowns, he also added addresses to eventually be donated to the EFF and AI.
He also created a grant for himself.    As far as I know, only the MCF and his grant ever got
funded out of these?

The 21st Century grant is ours, for running the Block Viewer,  providing a forum section, maintaining
a seed node and helping with the code, such as keeping it buildable on other systems then windows.

Then  I think there are some grants for a giveaway and profit share grant.   

So far I think a good percentage of the grants have gone to unknowns still.

Overall, I'll be happy with less than 1%. This is either getting very big, or its getting very dead.

I have changed my voting preferences too, in your favor. hope it helps

Thank you

Thanks, yes, this is very helpful. I think we're nearly there. I'll have a detailed explanation about the reason for the strike as soon as it is over.

well i don't blame you. you have put in time and effort to do this and you should be compensated if not paid for it. i actually prefer the grant system compared to the usual premine for bounties and etc. this way you actually have to do some work to receive grants and get paid, as people can always pull their votes out. anyway you have my vote till you have been funded sufficiently again.

Thanks. I've added more explanation in the main post.

good:)

FreeTrade I just saw your grant got refunded, and it's a good thing.

As a side effect, the Revolution-Pool lost his grant, witch is not a problem if it's for you.
But I see that in your OP edit you are grunting against people searching for interest payments grant,
witch may not be only directed at my grant-pool, but since it was the new one in the grant race...
I wish you would have been more phony against the 2 big unknown hoarders that are monopolizing the grants since mostly the start.

Anyway, my purpose with the grant pool was not to get the money, but stop those rich grant grabbers.
As a matter a fact, I started to vote for EFF charity &co, but seeing that they got so few votes, made me think how I could change that. I even voted for the "don't reset chainblock" grant even after it was finished, just to push it so it could remove the rich grabbers.

But then I thought well, I could fight greed with greed, so I created the Revolution-Pool so that even it's for pennies, people are motivated to vote for it (and since it's sharing, it's nice too).
And as you know it, it worked pretty well, in just 2 days it hit the grant line.
As a side effect, it kicked memorycoin fondation off the line (witch itself kicked you out to get in again)
and I was sad about it.
As another side effect, it made people to vote witch didn't have voted before, witch is nice on it's own.

For a conclusion :
For everybody to win we have all to get more votes than the two grant grabbers !
For that, we need to cross vote for each others (I already did that since the beginning by voting for you and all the legitimate grant as second choices)
And when more people votes and more useful grant are created, the pool will go out naturally.

As a side not :
All this is a lot of fun and interesting, and I hope this will induce people to vote and take part in the life of the coin, and discover this "new" way of voting and hopefully understand it.

Hi,

I still don't fully understand how to vote, is it just mater of sending some coins to a specific grant address?

Cheers
 MC

Someone made a grant for that:   http://21stcenturymoneytalk.org/index.php/topic,40.0.html

Sorry if you felt I was targeting you . . . I wasn't. Any grant trying to get funded is competing first and foremost with the grant with the least level of support.

Your pool is certainly an interesting development. It is a bit more worrying than the large holders voting for their own grants. They'll be dealt with by currency expansion . . as long as the coin grows, they can't hope to hold onto 17% of voting rights. However they're likely to join your fund if they can't secure a grant on their own. Your enemies will soon be your allies and co-operation means that your fund is very sustainable.


Yes, it's creating drama and helping people to engage with and understand the voting. That's a good thing. 76% of coins are voting at least one preference - that's a really good turnout, much higher than I expected.
I happen to think interest seeking is bad for the coin . . but in the spirit of Bitcoin I expect people to act in their perceived best interests. I don't expect to persuade people to do the 'right thing', I only try to persuade them to act in their enlightened self interest, rather than their immediate self interest.