Bitcoin Forum

Freetrade was finally voted out and is abandoning the coin just like he did with Memorycoin 1. Stay away from this developer. This was predicted in this thread. He will most likely attempt to have the coin removed from exchanges as he did with his previous coin. He succeeded in having the coin removed from bter previously with MEC (memorycoin 1).Proceed with caution.





Developer FreeTrade has granted himself large amounts of MMC through a pre-mine. These awards, upwards of 205,000 coins as he later disclosed after much pressure. These coins were disguised as a pre-mine that was given to protoshare holders and memorycoin 1 contributors. Plus he has been raking in ~48 coin per every 20 blocks for holding the CEO position. Aaaaaaannnnnnd ~15,000 coin from holding the CTO position for awhile in the beginning.

If one person controls that many coin from day 1, the voting aspect of the coin is compromised and this voting aspect is the one thing that was to distinguish this coin from other alts. Especially since the coin failed to remain GPU resistant.
 

Good luck all. I advise you to be careful here.

See this thread and these other threads for more info:

https://bitcointalk.org/index.php?topic=389386.msg4476668#msg4476668 (his faux interview disclosing his stake after much pressure)

https://bitsharestalk.org/index.php?topic=2124.msg24636#msg24636

https://bitsharestalk.org/index.php?topic=2047.0

https://bitcointalk.org/index.php?topic=267522.msg3143884#msg3143884

https://bitsharestalk.org/index.php?topic=2125.0

https://bitsharestalk.org/index.php?topic=2817.msg35078#msg35078. New

Read for yourself, especially FreeTrades responses.

Do you due diligence!
Last update regarding this for now. I will check back in a few months. See how the coin is doing. Good luck, although you might have better luck with Coinye, COYE! :D

MMuQj9wZQyepNL1SkKkDaCaHFmo4DqkYFb

Thanks

I completely agree with you, the payment is too high for single persons when you add up the value of coins and say that the officer isn't doing any work and giving some away to others doing relevant stuff.

But you didn't really think this through in my opinion.

MMC is not a descendant of PTS, it has been around before and the only connections are that the communities are close because of the PTS honoring, and that FreeTrade worked on the PTS client. (you may call MMC a DAC, like you may do with BTC).
I would regard MMC as decentralized, because the whole network can have influence on who fills out a position. The officers have to provide value for the coin, or people will change their vote. There are some candidates already for every position, choose the one you trust most. Or run for a position yourself if you think you could do better.
That was my intention when running for CSO - it didn't seem fair to me, that a lot of people from the community are helping out and the one guy rewarded for that job sticks to pushing some forum threads around once a day. Now I'm working hard on setting up a good team to do real work on getting the support section to a professional level.
What kind of work are miners doing, except setting up their boxes and watching prices? How many hours did an average miner spend during the last days to add value to MMC?

Your proposal is not much better than the guy having a big stake and compromising the office by voting for himself. The coins are divided better, but not doing any good for development.

tl;dr if you're looking at short-term numbers and profits, go with this. if you want MMC to develop as fast as possible, look for a real candidate

and if it's about the coins the miners can't earn or you think all options are lame you can vote for a position reward to not get paid to anyone - this is explained in the voting howto https://bitcointalk.org/index.php?topic=372982

Dude, the vote is weighted to how much MMC you have in your wallet.  Someones vote who has 10,000 MMC's in their wallet will have 10x the voting power as someone with 1000( not necessarily the ratio used, just an example).  Since these guys have been holding office for a couple weeks and gaining upwards of 500mmc per day, it's sufficient to say some of them have over 8k in MMC when your average miner in a pool might be lucky to have a couple hundred.
 
This is not decentralized. There is a possibility for these guys to gain so much control that it would take a massive coordinated campaign to remove them from office.

If each address/wallet with at least 1 MMC got one equal vote and the number of MMC beyond 1 had no weight, along with maybe a 2 coin payout per 20 blocks I would be okay with it. But 53 coins every 20 blocks is just a faucet for a selected few while diluting miners worth at the same time.

Here is wiki's definition of decentralization: Decentralization (or decentralisation) is the process of redistributing or dispersing functions, powers, people or things away from a central location or authority.

Redistributing is what I want to do.

Send a Satoshi to this address MVTEceo3RoiqBhfqjVovtyMAVUJLoHiGTg
Or
Vote for these spoil addresses if you don't trust or want me to redistribute the coins, please!

MVTEceo1111111111111111111111TvNrt
MVTEcha11111111111111111111116GDGs
MVTEcmo1111111111111111111115e9dK3
MVTEcto1111111111111111111119owJby
MVTEcno222222222222222222222B1FB3W
MVTEcso555555555555555555555G6uEbs

53 coins going to each officer every 20 blocks is absurd.

Depends on what he/she/they do for the coin. Note that having 10,000 coins is irrelevant for the voting system since more than one million coins have already been issued and all of them can vote. In fact, I think that the CSO has been replaced recently that means that the community is selecting who takes the positions.

Now that the coin has reached a estable value I hope that more individuals/enterprises apply for the positions so we can see a constructive 'competition' to provide services to the coin: a professional on marketing who could attract media coverage, the charity position that isn't covered yet could reinforce the community-oriented basis of the coin...

Redistributing the coins of the positions without criteria would just devaluate the coin. This coin has a mechanism to make it grow and offer more services, so let's see what people can do to add value and support them.

charity is going to sean's outpost
https://bitsharestalk.org/index.php?topic=1617

agreeing with the rest.
redistributing between those who voted is unnecessary and just an appeal to greed.
or what other reason is there to hold on to your idea after you learned about the spoil addresses? that would be the fairest way of redistribution...

Says the guy vying for one of the positions. Care to disclose? If you are in office, it would behoove you to smear my attempt.

It's nothing I need to disclose, I am the elected CSO. Everyone who is concerned should know ;)

I neither want to blindly redistribute, nor share it between some greedy people doing nothing for it, my mission is to reward people helping the coin.
The team building and idea discussion process is hard work, and I just wondered what you have been doing since the holidays.

Let's be real, you named 2 out of 6 positions that could be essential to the future of the coin. The other positions have already outlived their necessity. The website, pools etc. have been established. What they earned so far could pay for every altcoins services like this.

What exactly is the duty of the CEO? Does FreeTrade tell the others what to do? Does he do anything in relation to his title and are those duties that of a developer, and this is a clever way around a premine?

 

equal distribution is not necessary for a currency to survive. There needs to exist some form of inequality to match the nature of how societies are currently exist.

MN6YDXS7skVfZYTeT9Ri2ZMsj55vcomh1G

FreeTrade is busy with development (and thus working in his position as CTO). He also put up a list of tasks for the other officers (CEO work).
To be honest I also wish for another CEO candidate, who would be able to yet more coordinate the other positions and set a general path to follow. At the moment there's no other candidate, so I don't mind him holding the position. He's working hard, and without his efforts we wouldn't even be discussing here.
Or maybe it's just all the CTO work he is doing that makes me feel like there's a lack of CEO, but again, there's no better candidate for that job too.
Call it premine or whatever, I don't care.

All I blame you for is wanting to practically give away the coins for nothing but a vote. In my opinion the choice of positions is great, and when there's no suitable candidate just spoil your vote and the coins will be mined later instead of being issued now.

Ok. Congrats! And good luck.

Bitcoin is almost 5 years old and behind it there is still and active group of developers. I would not say that the CTO, CSO and CNO positions are finished with their work: pools can be improved, miners can be optimized, new users/miners have to be helped, bugs have to be fixed... Coding never ends.

I agree that CEO's tasks are quite ambiguous but everybody is free to propose something good for the coin and apply for the CEO position. If the proposal is good enough I'm convinced that the community will strongly support it.

If the coin has value, there will always be incentive to optimize miners and fix bugs. Mining the coins and the scarcity of the coins used to be all the incentive needed.  Now developers are trying to finagle their way into a free coin supply under ambiguous pretense.  Pools charge fees, so their incentive to improve is inherent.

The problem here is that this coin is trying to be run like a corporation.  Running the coin with this corporate structure will result in a centralized coin, not a decentralized coin. By saying my vote is worth less than yours because I don't have as much coin as you all the while giving free coins to those already in power is disenfranchising. It is somewhat like the Three-Fifths Compromise with out the racial or ethnic undertones (and by no means a direct comparison). Do you think if you tried at this point, you would be able to unseat any of the elected at this point with out a huge campaign and the coin going to sh*t?

I see the OP campaign as a chance for the coin to self regulate to the extent. That is, not only who gets paid for their efforts but also how much.

Since any officer can offer to give (some %) back to the community, or supporters, this could create a market price for the CEO, CTO etc. positions.

Technical questions:

Does sending MMC Satoshi from an exchange count?
Can the voting account on an  exchange receive the funds from the redistribution as well?

and

How easy is it for you to redistribute funds amongst voters every time you get paid if elected?

The CEO has collected 12071 coins from the position. http://www.chainbrowser.com/memorycoin/address/MVTEceoTeDMmxFHcRbkMyJGN4ct7ULKkS6/

He also holds the CTO position which had collected 12071 coins. http://www.chainbrowser.com/memorycoin/address/MVTEcto33ErvL7f5PBAaPakazcpw6HRn7F/

He has received only 19 votes!

The votes are weighted to the amount of MMC in your wallet. More MMC, the more your vote is worth. Just like Wall Street and DC!

As long as the Satoshi is sent to one of the MVTE addresses, it should work I think.

As long as the http://www.chainbrowser.com/memorycoin/ site is up, I will be able to see who voted. It doesn't appear that too many people are into the voting process and I am beginning to think unseating the current officer may never happen without massive MMC holders voting.

I am not saying equally distribute among all MMC holders, only equally distributed amongst those who vote.

Wow, only 19 votes? so how much MMC would it take to unseat total MMC for the CTO/CEO position?

I'm inclined to also encourage you to take up the charity position, and then redistribute the funds to the "poor miners charity". I mean there has got to be lotsa miners who are losing money with this coin (like spending electricity and not getting any block in the time of solo mining, or like getting a VPS and paying more for leases than they get out in coin, or "victims" of DDOS - I know, first world problems) What defines charity anyways?

Again, since you would give 100% back to voters, and current CEO gives 0%, I'm sure many would vote for you. And they could change their mind later if they feel someone else would be better serving them.

And perhaps the current CEO would decide to give 50% back to voters? Would that encourage more voting?

Just thinking aloud, but there sure are possibilities.

www.memorycoinvoting.com
Looks like the cno position is the easiest to grab.

I think this is a wonderful idea so I have just put my vote to you.
My wallet has 13000 MMC so this should help us along nicely.

Cool beans. I voted with my wallet, now I am voting with my exchange funds too. It's getting interesting!

How do you vote with your exchange funds?

I know if more people could see this, they would agree too. Unfortunately with all the coins out there, people don't care to be bothered with this.

It looks like he currently has 107797 coins backing his vote. We would need that many coins to unseat him in the CEO position.

Not sure but I think it has to be in your wallet. I could be wrong though.

M8rQPyrNRo82ywQYWXny9A2RqX449tpxoE 
thx

Thank you.

Spread the word in the pools.


Right now there are 500 coins per day going to each position. If we get a 50 votes whose coin total worth is more than the current CEO's backers, everyone would get 10 coins per day. That's more than the average joe miner is probably getting in the pools.

Just realised that I didn't post my wallet here. It's : MA9thFQTqWt6XoArbiCPyy4YDCuAJZXQYi
I withdrew some funds from the exchange so I'm now sitting at 14500 MMC
Come on everybody, we can do this :)

this is an interesting thought, and one i am sensing sadly could be true.

+1

MQ4EA85nnZwytrcqx9rJSpDWVTSXaxfqmc

Recently a great blog post appeared about this on btcgeek:

http://btcgeek.com/memorycoin-trying-something-brilliant/

MLED6u86UqNa1Nd8BW6RBPJn8RCbhpGqX4

Thanks!

I agree, reducing that number to  0.2% each candidate will be better

Great article! +1

MDp6AbARFnh68S8jURM4T8WBWudY5caMPq

I have voted for you now because I also think that it is too much for such positions

^This!

MCNwzBNsrjJV4gmf99J7eEFqqaLPoZ28ZF

Thank you :)

If everyone can post the same address they used to vote here or on the reddit posts I started it would be great. That way I can cross reference with the chainbrowser.

I think we can do this!

I've started creating other voting address for other positions, but vanitygen takes awhile to generate.

Thanks!

The other day I think someone accidentally sent me 100MMC as a vote. If you wanted to vote just send 1 Satoshi. If this was a mistake, let me know and I will return it. If it was a donation, thanks, you rock. Either way let me know!

Remember vote 1 Satoshi to this address MVTEceo3RoiqBhfqjVovtyMAVUJLoHiGTg

+1
MJYkkbKnLr7W98Pq5zawckXD2iezrhYS6c

Any updates on the other wallets you are creating?
And do you know how many coins are voting for your fund right now?

Here is the CTO address: MVTEctoXq2VzuARaw3J9cWVvzwiiktoPWp

Just send 1 Satoshi please, nothing more.
Thanks

Generating CNO address now, Probably be done later tonight.

Another person sent me 100MMC. Again, if this is a mistake let me know and I will send back.

I am totally open to donations, but I would rather wait to receive them once voted in. As you may be sending them for not. The coins wont make a difference if they are in your wallet or mine. Please hold off on any donations until it is decided.

I appreciate it. The best thing to do is to send just 1 satoshi. That is 0.00000001MMC.

Thanks!!

Just sent in my vote.

MLeDMTW3b4qpLaeim1K7e2d9U7jPVqkD51

Thanks.

23 Votes so far, I think a couple people sent wrong amounts. Double check your address and make sure you sent 0.00000001   nothing more or less and dont send any more.

Here is a list of people who voted:
http://www.chainbrowser.com/memorycoin/address/MVTEceo3RoiqBhfqjVovtyMAVUJLoHiGTg/

thanks!

CNO Address: MVTEcnoxdvRA1EJuRRh6QT6Cw8pRTPdcre

voted. MPWx97F2Nz9dXoqMdJTjmWmtcRpxNJmkAu

Elected Candidates Block 4360
CEO MVTEceoTeDMmxFHcRbkMyJGN4ct7ULKkS6 106955
CTO MVTEcto33ErvL7f5PBAaPakazcpw6HRn7F 68945
CNO MVTEcnoqHvr7AWRSBFUSpVCBKcxUfxVEad 54809
CMO MVTEcmo2iUnZn5cHJ7SKrhLMwi7EGPfgnq 112273
CSO MVTEcsoL9GvfezMUgEDnhr7ioRAsByuTAv 60478
CHA MVTEchaTyyDP2V6QotPE4zi1mUvbNKo8pe 60582

http://memorycoinvoting.com/

Done.
MA9thFQTqWt6XoArbiCPyy4YDCuAJZXQYi

MR1kSZAkGYpsCDrirGPppJzVhaNYLBKhPT

Thanks

Looking at the ChainBrowser you sent me 0.00000010 MMC when you should have sent 0.00000001. 7 zeros.

I saw this because at mmcvotes.com you are supporting this address MVTEceoArcKCavmeibDJqheg9sbD52pyzA which is not mine. I hope you don't mind trying this again.
Thanks!
                                                       

Couldn't find your vote in the browser because this address is not valid.

Sending 0.00000001 again will just raise my vote balance to 0.00000011 so it will not do any good.
As far as I know, you can cast multiple votes for the same position and the one that you send the least money to gets your preference. If that one is not elected, your vote balance rolls over to your second preference, so you should get my votes.

Block 4440


Your vote does not seem to count, because MVTEceo3RoiqBhfqjVovtyMAVUJLoHiGTg is still not shown in the candidate list. If your vote would count, the number of votes should be over 10% of the droop quota and therefore been shown in the list.

From memorycoin.info:

Coin owners vote by sending satoshi to specially formatted MemoryCoin addresses to indicate their vote. Voting weight is proportional to the number of coins owned. Votes remain in effect in perpetuity – voters can change their vote by sending 1 satoshi to a different address. Voters can select multiple preferences by sending 2 satoshi to a second preference for example. Votes are counted every 20 blocks, salaries awarded to winners every 20 blocks."

To me it seems like I am your tenth preference. I could be wrong and am not sure how to reverse other than maybe sending 1 Satoshi from a new address or something maybe.i am guessing most of the supporters are people with minimal amounts and your vote is going to someone else because I am your tenth preference. My total coin backing with out you is probably like 1 or 2k, if that and that is why I am not showing up.

Does this mean my address is being blocked off the candidate list somehow? Not sure how this works completely.

It does not have enough support (yet).
Droop quota is 63857, only candidates with at least 10% of droop quota (= 6385.7) are shown.

Okay, to get elected I have to get at minimum 63857 coins backing me but at least 10% of the quota to show up on the candidate list, right?  As of now I have less than 6,385.7 coins backing my address?

I will create a new wallet right now and vote for you from that one.
I currently have 27000 MMC to back your vote so this should help us along very well. Let's hope we get some more people jumping in and we will start earning our bonus soon :)

You can get elected with less than the droop quota.

Yes.

Yes.

Alright. Thanks MegaFarmer!

What are you mining with? You are getting a ton of coin. Are you solo or pool?  if you dont want disclose, that is understandable.

Thanks for support and coin weight!!

You can check my (old) voting address on the www.1gh.com pool ;)
I created a new wallet but that stupid MMC client complained about a corrupt file and had to re-scan the entire tree so I will be voting with my new wallet in a few minutes.

I finally managed to get my new wallet running and my votes out. For some reason the MMC wallets sometimes hangs when updating the blockchain.
Voted from this address: MD3girn1fCpRWYbwrZNjix1J2Mh1yGbNcg
Now let's hope we get some more backers and get this party started.

It's there! mmcvotes.com has it showing up as of block 4640. Unfortunately for the CEO position we need about 3.5 times more coins. Hey but we are on our way. Only 24 votes and we got this far, thanks mainly to MegaFarmer!

To whoever asked me about voting from the exchange: I don't know if it works because the exchange (bter) has my funds locked and it is impossible to withdraw anything and impossible to get response from support, for now.

To be safe, vote from your personal wallets.

Only 12000 more coins to get the CNO vote.
I just moved some more coins into my account so we are almost there.

Everybody in this thread who only voted for the initial CEO position, please also send 0.00000001 MMC to MVTEcnoxdvRA1EJuRRh6QT6Cw8pRTPdcre

This is a pretty dumb plan. What do you think will happen to the price of the coin if you fire all the devs and officers just to get a little bit of extra coin? Greedy and dumb plan.

+1

Well mate, I told you back in October: voting will not work. If you give power to your "users" they will use that power to make a revolution for get rid of you first "for the good of the community", then secondly to get rid of everybody who opposing what they doing and finally to get rid of each other. (Actually you are lucky because they can't put you into some kind of camp to carry on with development... until needed...) When these blokes killed the coin certainly they will blaming you, because of abandoning your "shitty premined scamcoin" :).

I'd suggest to read a bit about the history of the USSR, especially about the twenties and thirties ;).

Block 4700 (http://memorycoinvoting.com/blocks.php?block=4700)

Elected Candidates

CEO MVTEceoTeDMmxFHcRbkMyJGN4ct7ULKkS6 105504
CTO MVTEctogwRCHUvWZyNcqYMbrSdNXrFR6FK 69402
CNO MVTEcnoqHvr7AWRSBFUSpVCBKcxUfxVEad 42480
CMO MVTEcmo2iUnZn5cHJ7SKrhLMwi7EGPfgnq 112319
CSO MVTEcsoL9GvfezMUgEDnhr7ioRAsByuTAv 65754
CHA MVTEchaTyyDP2V6QotPE4zi1mUvbNKo8pe 61269

Redistribution Votes
CEO MVTEceo3RoiqBhfqjVovtyMAVUJLoHiGTg 31767
CTO MVTEctoXq2VzuARaw3J9cWVvzwiiktoPWp 30038
CNO MVTEcnoxdvRA1EJuRRh6QT6Cw8pRTPdcre 30191
CMO -
CSO -
CHA -

I partly agree with you, but with most officers not doing anything substatial for the coin, I think they are highly overpaid.
Some officers have just written one script or set up one website to secure their position. I think paying thousands of dollars every week for that is a bit too much and these coins are better spent on the miners that are also very important for the coin.
Sure, there are the spoil addresses if you do not agree with the position of an officer but why let these coins go to waste if we can give them back to the community.
Once the elected officers will actually show to be worth their money, I will surely vote for them.

Here is the CSO address, MVTEcsotPcdeppmXxiDvVvgkjwUJn4p8wW

thanks!

What are you using to generate these addresses? Intel Pentium II? :D

Nice one! :D

"Greedy" says the guy taking a huge premine chunk and tens of thousands of coins for holding multiple positions doing the things that a dev is supposed to do to get a coin going.

"Dumb" says the guy who implemented the voting and payment system.

The premine I can get over it. I get that you want to be compensated for what you do. It's they way you set the system up to maintain your advantage over everyone else that I disliked and I unfortunately realized this after I put in my own effort and time.

If you want to abandon your coin because you are not getting paid, that is completely up to you. But you then need to re-examine who is being greedy.

Good luck!

Apparently this is being greedy!

Block 4840 (http://memorycoinvoting.com/blocks.php?block=4840)

Elected Candidates
CEO MVTEceoTeDMmxFHcRbkMyJGN4ct7ULKkS6 102851
CTO MVTEctogwRCHUvWZyNcqYMbrSdNXrFR6FK 69438
CNO MVTEcnoqHvr7AWRSBFUSpVCBKcxUfxVEad 39847
CMO MVTEcmo2iUnZn5cHJ7SKrhLMwi7EGPfgnq 113465
CSO MVTEcsoL9GvfezMUgEDnhr7ioRAsByuTAv 65878
CHA MVTEchaTyyDP2V6QotPE4zi1mUvbNKo8pe 61301

Redistribution Votes
CEO MVTEceo3RoiqBhfqjVovtyMAVUJLoHiGTg 33953
CTO MVTEctoXq2VzuARaw3J9cWVvzwiiktoPWp 32160
CNO MVTEcnoxdvRA1EJuRRh6QT6Cw8pRTPdcre 32313
CMO -
CSO -
CHA -

Only 7534 votes/coins missing for CNO position, its getting closer.

Tell us more about how you're involved with the community, except getting help with your mining and promoting this thread  :D
https://bitsharestalk.org/index.php?action=profile;area=showposts;u=5405

we're almost there, keep it up people

This is silly. What good will this bring the coin? As mentioned before in this thread this seems like it is purely driven by greed.

You are talking about freeing the coin? How? Isn't it free already?


People need to understand that their votes should go to people willing to dedicate time and energy to do something good for the coin and the community.

Please read what Freetrades says here and please thing again before voting: https://bitsharestalk.org/index.php?topic=2013.msg23338#msg23338

Thanks.

I voted for CNO and CEO positions, can you check? MDdDfweNUfaWEv9VjJDpiSxtnLTtzBiz58

I'm paying 0.0001 fee in addition to 1 satoshi = 0.00000001 is that correct? Noone ever mentioned that, so it is confusing to me. Clarify?

In addition, from my MMC wallet, I couldn't reduce the fee to 0. Is it possible for anyone?

TIA for your answers.

This is a terrible plan. If you don't like the way Memory Coin works, go mine a different coin.

MVTEcnoxdvRA1EJuRRh6QT6Cw8pRTPdcre won Block 5100 (http://memorycoinvoting.com/blocks.php?block=5100) and Block 5120 (http://memorycoinvoting.com/blocks.php?block=5120)

Payout for both blocks was 48.01300000 MMC

Block 5100: 40262 total votes, payout per MMC voted: 0.0011925140330833
Block 5120: 40319 total votes, payout per MMC voted: 0.00119082814553932


Winner Support Block 5100:

Winner Support Block 5120:

I think this is precisely the magic of this coin, owners get to decide what they want, that's why people vote :)

I sent .00000001 to the address  MVTEceo3RoiqBhfqjVovtyMAVUJLoHiGTg  (CEO)    days ago.

my address is MFsEpEcBu1U5SQ24vigzL6YWqCSJUwaVE8

Thank you for your support. Unfortuantely we are not close to winning the CEO position yet. Vote for the other addresses too! We are very close to getting the CNO back. We held it for 2 elections (40blocks).

lol looks like you have your first major backlash. https://bitsharestalk.org/index.php?topic=2047.0
some idiot is calling for blacklisting you and all of your supporters.  Real great way to support the voting aspect of a coin

Looks like this idiot MaxPWR has created 2 accounts for getting elected: CEO and CHA.
So if people vote for him they either kick FreeTrade from his highly profitable CEO throne or let MaxPWR steal from charity.
So who would you rather support: NewMine of MaxPWR?

I don't think you understand how it works, if it was on a per vote basis I could set up a script which separates my 6000 coins to 6000 addresses and vote myself in very easily

EVeryone of you should feel stupid, all you would have to do is look at Memory Coin 1 and you would see the only thing FREETRADE wanted was free cash, a soon as the vote system didnt work for him, he crashed the original coin and had it taken of exchanges.  What makes you think this will be any differant, as soon as he is voted out, he will cash out(mm2 already made hime rich) then just crash a new coin.

if you dont believe me just read the original memory coin thread, its all there.  your best plan is to cash out and invest your energies into something real, and before you ask, no i dont have any pts/mm2 .



j

I wish I would have seen this earlier.

Ok I spent 5 minutes and found this on page 38 of the original MMC thread, is that what you had in mind? Quoting:

"""
B.T.Coin
Sr. Member
****


Activity: 208




View Profile  Personal Message (Offline)
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Re: [ANN] MemoryCoin | R.I.P.
September 14, 2013, 03:17:46 PM
 #755
Quote from: eule on September 14, 2013, 10:22:12 AM
Can I get a TL;DR of this thread? I only followed Memcoin a bit in the beginning and reading the last two pages now makes it look like this:
Hey look, cool coin where YOU can vote who wins the jackpot! Vote for me and I'll continue developing. What, you want to win the jackot yourself instead of giving it to me for my hard work? F*** OFF, now I'll make your coins worthless! http://en.wikipedia.org/wiki/Scorched_earth

Indeed this is what it looks like.
FreeTrade always told us that he wanted the grant to go to something with a large community backing. Well, as it turns out, the Revolution Pool has a very large community backing but FreeTrade will not accept that as he does not get his share.
FreeTrade has pushed his plan for this single large vote without even listening to all the proposals that were made by the community. Nobody backed this plan but he thought it would be the answer to get 'private' votes banned.
As things turned out, it would be better to have kept the 5-grant system.

I understand that FreeTrade would appreciate some support for his coding efforts, but you can't extort the community to get your way.
It has been shown that the community will use the grant system to reward themselves. No matter how you change it, this will always be the way people think and act.

I think the best solution would be if FreeTrade would kindly ask SlyWax (Revolution Pool owner) if he can have 20% of the grant and the other 80% is distributed among the revolution pool voters. I think there is a real chance this could happen.
If not, someone else could take up the idea to start a pool with a fixed contribution to FreeTrade or people could change their voting preferences back to the MCF instead of the Revolution Pool.
Either way, whatever will happen is what the community wants to happen as was intended all along (according to what FreeTrade communicated up to now).

Power to the People.
Report to moderator 
A fine is a tax you pay for something you did wrong.
A tax is a fine you pay for something you did right.
"""

I already wrote, about 2 weeks ago, why I think the voting system is flawed and it's just as democratic as the elections in Iran...
Newmine I just voted for all positions with a 7,500 MMC wallet.
MQdsjzu6KMgqzMAZ7xhmiRbyzTukGcrDPN

I will keep this vote as long as you keep your word. I don't see any of the officers budge a nail for this coin so they definitely don't deserve more than 20% the current pay.

Good luck

Damn, this FreeTrade is even worse than I suspected.
So much for my faith in this coin :(

I paid FaSaN to keep to my word.

Yep, I know.
Please check this query and let me know if you understand what's going on there:
https://bitsharestalk.org/index.php?topic=2047.msg24095#msg24095

well whatever the case, they're amounting to about 45k in votes
and according to the site
MCF is funded through the MemoryCoin grant award system. Its funds are currently administered by the coin’s founder and chief developer, FreeTrade. To avoid a conflict of interest, MCF does not provide grants or payments to its administrator.

I think FreeTrade has some explaining to do, especially since they're voting for him and most of the position holders

I won't hold my breath.

I am very disappointed with the performance of MMC2

WTF? I already told before this FreeTrade is a scam with PTS MMC and now AGS...

Where is the magic in having the memory coins I've mined become worthless??

You're not going to see the growth you want until this mutiny attempt by Newmine ends.

Yes, worth noting that he doesn't seem to have many MemoryCoin himself, but instead is advising others to shoot themselves in the foot. Maybe wants to create a lower buy-in point. :(

While people here complain about the officers doing nothing, the support team is working hard on getting stuff done.
Status update: https://bitsharestalk.org/index.php?topic=1653.msg24467#msg24467

Newmine slowly is becoming a thread to our efforts. If you want us to keep up our work, give us your vote.
Without the coins from the grant I cannot keep on paying the team, and I think no one who cares about the coins future wants MMC to have a homepage with only parts of it translated to other languages...

Hi Seraphim,
I've changed my vote (ONLY FOR THE SUPPORT AND CEO ROLES) to you and freetrade.
All other roles in my opinion are being paid too much at the moment.
I will also, as stated, propose myself for the CMO role to make good use of the CMO salary (details coming right when the VanityGen decides to give me an address :) ).

looking forward to your application!
and I hope newmine gives you some time to dive in before he sets up an address for that office too (wonder why it doesn't have one yet, all the talking about wanting to redistribute because officers earn too much, and the officer doing the least work isn't threatened by this, but gets outvoted the conventional way...this idea still seems not really thought through like I said right in the beginning. but of course, no, no one here is motivated by greed :> )

You are right. I have 205 MMC.

80% of the coin from the 2 elections won(previous to today) were dispersed to those who voted. The other 20% was paid to FaSaN. This will be the same today.

How much coin do you have? 

How much coin have you paid out for services to benefit the coin? (This should be publicly displayed anyway) Services paid for the benefit of MCF don't count as MCF is an extension of your wallet. Nearly a month in and your coin is <$.50.  I'd say you have already depressed the price enough.

It's been there a few days. ;)

Maybe we will support him.

Post your application and road map here. Everyone!

We paid FaSaN 20% when we won the 2 elections. 

FreeTrade has raked in near 22,000 just coins for holding CEO position. What had he done to earn this?
He forked the coin and updated the client and I am sure some other technical stuff, but I'll remind you held the Chief Technology officer position too. He took 15k coins from that position.

What is he doing to be CEO, other than making sure he stays CEO?
He reminds me of most politicians. Get elected, then spend the entire term trying to get re-elected instead of doing something to benefit their constituents. Saying things like the coin will only prosper with me and will die without me is absurd. If a Dev from another successful coin were to come here and take you position, would you be okay with that? Somehow I doubt it.

Elections are inherently designed to have winners and losers. If me winning is a mutiny, then I would assume you are one of the losers.

Mutiny on the Memory. I like it.  :o

If in a year, hell, 3 months from now you unlikely change your mind and say to yourself, "damn, FreeTrade and or any of the other offices aren't really doing anything to benefit MMC anymore, they are over at RAM coin spending all their time there!" Do you think you will be able to unseat him or any of the other officers once they are in the position for that long?

you got my humble vote with 230~mmc

Thanks!

Hi guys,
Here's my candidacy post: https://bitsharestalk.org/index.php?topic=2119.0
I will appreciate your support!

Hey, I wait my 20% of blocks 5640, 5660, 5680 ! Or you already boring to be our favorite RobinHood ?  :D

Eh..  ::)

Whaaaat?

1st of all, I am at my regular work job. Ill payout when I get off work.
2nd, reward matures for 120 blocks.
3rd, who said you were guaranteed any cut? Trolling me instead of doing your job means you might not get paid. Please submit an itemized invoice of all work done during those blocks. ;)

Nice try!

Uhmm... and you ? What WORK have you doing for the MMC community during this three blocks ?

Take it, I don't need this money. You can pay the bill of your dinner for today. I was sure that you had do all this for your pocket :-)


Best Regards Newmine




FaSan

Maybe we need to open a CHA position for Newmine dinners ?  :D

Tell me where I said I would be working for the coin. I only ever said I would distribute the coin. You will get your cut this time.

No need to try and insult me. Your translation only makes you sound foolish.

Thanks for your support,
Newmine

Donations gladly accepted here:   MMCPooL6JBsRw4t22wCZ4TTgawYCcA1x15

Ok Robin, thief the rich and give to poor.

If during this time you have some interesting project to propose, you are welcome.




FaSan

Two donations are sending.



Regards

Thanks buddy!

Looks like letstalkbitcoin thinks the same about the coin distribution so i expect a nice article in the feature about pre-mined coin positions and if anything is analyzed from the genesis block and mmc 1.0 a nice overview with current balances and their voting power. I think it willbe smart for Invictus to take distance from this dev because it definitely hurts their believe of a fair system. Problem is that the dev has a to strong position in PTS. In the end this is what will hurt Invictus.

~ What goes around comes around.

That's the case.
I want that the Coin I follow and support will get an appropriate support.
I want it constantly to be promoted, fixed if needed and so on.
That's why I was interested in this coin from the very beginning.
Is FreeTrade the one to do it?!
I think he is.
Is it a problem that he holds some of MMC, even if it's more then you do?! I don't think so.

There is a big difference in a fair distribution and something fundamentally wrong in the core. Elections have to be fair and how can they be fair if one has absolute power? Better name for this would be SockPuppetCoin. But again think of this; most coins that where first (tenebrix, sif..) with something new have failed. Sooner or later there will be a fair alternative based on MMC. Nuff said..

FreeTrade / MemoryCoin 2.0 is dodgy

Didn't see that coming.......

The pre-mine (importing of the MC1 coins) was only done to make freetrade rich. There is absolutely no reason whatsoever to import an old abandoned block chain. Unless of course you are holding tens of thousands of coins from that old block chain.. That would really be a very good reason. MC2 is trading at .32 USD. I truly believe that MC2 could have been worth much more if that import never happened.

This is a interesting read for all that don't believe in the fairness of MMC2 and mistakes Invictus made by hiring FreeTrade.

https://bitcointalk.org/index.php?topic=325425.60

MW1sZVDE2dscseYotrYCHUAqC3cHQuB59E


thanks

FreeTrade still dodging the questions I see

Well, I think it should say a lot given how dismissive he was of the effects of the GPU miner(car to bicycle comparison i recall).  But now he's trying to buy the GPU miner and people are complaining because it has most of the hash for the MMC network

Just to add to the scam

http://memorycoin.info/ is for sale- looks like the dev team (belltown in particular) is looking to capitalize on *anything* they can get their hands on.


https://bitsharestalk.org/index.php?topic=2123.0

SO - The devs want YOU to pay for the domain, and, you must say good things about MMC on there.....

When will this coin die!

It's not the most, it's nearly the complete... or am i misinterpreting the numbers at the 1gh.com site?

belltown is not a dev, he was elected cmo for a while. he lost that position because he wasn't working hard enough, and a new cmo has already been elected since then.
i agree that it's not a fine move to sell that domain now, but that's nothing anyone on the team including freetrade could do anything about.


regarding the premine issue:
dec 26th someone compromised several positions by voting for himself with a huge balance:
https://bitsharestalk.org/index.php?topic=1635.0
if it wasn't for freetrade using his coins to vote for real candidates, these grants would have been lost to that person.

a few clicks on the block- and voting explorers show, that the same funds used to try to compromise the positions were used to support newmine's campaign, and by the amount and how things here evolved it's easy to see this has been megafarmer.
https://bitsharestalk.org/index.php?topic=2236.0

my speculation about the connection between newmine and megafarmer was stupid, you can easily read up that megafarmer joined newmine's campaign here.

nevertheless it remains undisputed that the coins ft granted himself for the start were used to prevent a big holder from manipulating the elections and stealing the rewards in a critical phase.

I couldn't really care about Newmine, I care about FreeTrade's attitude because he marketed the coin on here - and mislead the public with false information, and he's censored my comments in other places just because he refuses to answer questions.

Your response makes basically NO sense at all - you are trying to act like a corporation however you refuse to follow the rules of a corporation, one of the major rules with a corporation is disclosure of information - ie: to tell share holders about the CEO's financial holdings in the company. MemoryCoin has refused to do that and blatantly mislead consumers with things like "CPU Only Coin" and not releasing the source code, and FreeTrade is part of the deception.

How many coins does FreeTrade hold?

and

Is he likely to quit MMC like he did with PTS?
 

He never quit PTS. He was hired by PTS owners to do some coding.
His work was done he has moved on.
You would better do your research+thinking before accusing someone.

Oh sorry I should re-word it

Is he likely to stop supporting MemoryCoin like he did with PTS, then steal the code to make yet another alt-coin - unless the community bows down to his demands?

if you were freetrade, what would you do?

Here is FreeTrade's hilarious* answers to questions surrounding him, Memorycoin 1 & 2.0 and the pre-mine
https://bitsharestalk.org/index.php?topic=2288.0


Noteworthy:

He gave himself 160,000 MMC. It would have taken a single miner 571 full blocks of 280 coins each to amass the same amount. Anyone want to bust out the probability of that happening?

47,000 coins went to the MCF which FreeTrade controls and used to his vote advantage until he mistakenly realized it.

He notes his pre-mine stake is 1.6%. This is in relation to the entire coins future float.
This is 6.2% of the current float.
This is 20% of the float at block 2.
This all of course is not including the 47,000 coins for MCF which Mr. FreeTrade controls.

You tell me if this comprimised the vote from day 1.


FreeTrade held 2 positions since 2 days into the coins life and voluntarily stepped out of the CTO position after gaining 15,000 coins from that position and has currently raked in 29,000 coins and counting for the CEO position.

It is safe to say FreeTrade has close to 250,000 coins, or 10% of the current float.

Yes I am sure he has earned some of these coins.

Has he earned immunity from the election process?

He also states his 160k is worth only $50k. I am pretty sure this wasn't the case a few weeks ago.

About Bter and the exchange removal; his claim of a trading halt is an attempt to disguise his contempt and killing memorycoin 1 for a noble purpose. This is in the quotes and links in this thread for further examination.



It's all here in this thread, you guys decide.

*opposite of hilarious



Pages: [1]
Author Topic: FreeTrade Interview  (Read 65 times)
 FreeTrade
Moderator
Sr. Member

Posts: 359


FreeTrade Interview
« on: January 12, 2014, 07:21:19 PM »
So 60 Minutes is investigating FreeTrade and the pre-mine scandal - I've got a transcript of the interview with Katie Couric -

Katie: How much MemoryCoin did you pre-mine?
FreeTrade: *laughs* So that's a tough question to start with. I'll answer it, but why don't we come back to it after there's some background?

Katie: Okay. Did you crash MemoryCoin 1?
FreeTrade: That's better. *more laughs*  No. I mean it was in a pretty bad state technically. I wanted to make repairs and the whole idea is that coin can pay for that out of grants or salaries, but the shareholders voted to give those funds to themselves. I guess you could say I lost confidence in the shareholders. They were angry that I didn't continue developing for free and called me a lot of names. All of them not nice names.

Katie: But you told Bter to de-list MemoryCoin?
FreeTrade: No. There's something called a trading halt - that's when something big is about to happen to a stock and trading is stopped to allow people to absorb the news. I told them they should probably suspend trading for a while because there was big news. But I don't get to tell exchanges what to list and de-list. Believe me, I've tried!

Katie: Did you sell any MemoryCoin before that happened?
FreeTrade: Actually I was a buyer of MemoryCoin.

Katie: Why resurrect it now?
I was tired and I took a long holiday and when I got back I saw ProtoShares had very similar parameters to what I was doing with MemoryCoin so I got involved with getting that started. But MemoryCoin was still tugging at me though and a lot of the shareholders I really liked and felt a real responsibility towards, because, you know, some were still voting for me right till the end and asking me to come back and fix the coin.

Katie: So you put them the pre-mine?
Well I had a lot of coins too, but the problem I was trying to solve was how do we keep voting  but stop the short-sighted shareholders from taking the salaries and firing the devs?
And the solution I came up with was to fork all the balances from the old coin, but dilute anyone who wasn't voting, or just voting to share the grants out amongst the winning voters. So the fork rewarded people who were really engaged and trying to make the project work, but still kept balances for everyone.

Katie: What was your stake in the original coin that was forked into the new coin?
I had a 1.6% stake, so I got about 160,000 coins. At the current price, that's under $50,000. Some people will say that is excessive but I've worked very hard at it and that's not really very much for the skills I have and there's a lot of risk of ending up with nothing at all.
I also control something called the Memory Coin Foundation which gives out tips and grants and that got 47,000 coins.  From the earliest days I've explained those are not mine and I'm continuing to give those away to people helping the project.

Katie: With that voting control, didn't you stack the deck?
You hear about these countries where they hold elections and everybody votes for some guy who wants to chop off the heads of all their opponents - they're not ready for it yet. I think the MemoryCoin is a bit like that. There's a process of democratization going on where the pre-mine has less and less of an influence because there are more and more coins out there.   I think we've fended off the big challenge of a minority of voters trying to steal the salaries again, so I'm trying to step further back. If there's another attempt to use the voting system to destroy the coin, I'll step back in if I can, but I won't be using massive voting power to select between two good CTO candidates, or two good CEO candidates for that matter.

Katie: About democratization - can it ever be democratic if big shareholders can easily outvote small shareholders?
That's a pretty standard way to do things for all corporations. If you were going to have a crypto-government you'd probably want to do things differently, but MemoryCoin is more like a corporation and I think that is the best model for weighting votes.

Katie: You said they were trying to destroy the coin. I'm guessing you mean Newmine's plan to distribute funds directly to those who voted for him. Why do you think that would be so bad?
Well my theory is that it is possible to create a positive feedback cycle. I mean improving the coin, you know, through development and promotion should lead to a higher price. That higher price should lead to more funds for development and promotion, which should lead to a higher price. I think its possible to create really huge value if we can create that cycle. But the Newmine plan interrupts the cycle because it stops creating value. That's why it is so detrimental.

Katie: Are you going to try to destroy the coin if they vote you out again?
Of course not, I don't know why people are putting that about. I'd have no incentive to do that, quite the opposite, I'd probably stay and develop even if I wasn't getting one of the salaries. Also, the whole idea of a crypto-currency is that it can't be destroyed like that. Every coin starts out centralized around the original developer, and becomes de-centralized over time. I think we're getting there a lot faster than other coins - even if I was hit by a bus tomorrow, I think the coin would survive because there are other great devs working on it now and being paid to do so.

Katie: FreeTrade, thank you very much.
FreeTrade: My pleasure.
 Logged
Sugar is the new tobacco.
PRINT
Pages: [1]
« previous next »

https://bitsharestalk.org/index.php?topic=2288.0

+1 for FreeTrade

It's really a no brainer to vote for the dev to remain as CEO. If the coin is stagnating 6 months to a year from now, and FreeTrade is nowhere to be found, then yah it's time to look for a new CEO.

+160,000 for FreeTrade

FTFY

+1 for FreeTrade

https://bitsharestalk.org/index.php?topic=2817.msg35078#msg35078


Memorycoin Dev FreeTrade, is using his pre-mine holdings to vote after declaring he would not do so. This means your vote won't count for shit and whoever FreeTrade wants in office will be office.

So much for the voting aspect of the coin, which now pretty much makes this coin just another worthless shitcoin.

what do you expect he is a confirmed scammer..
i have caught this little bitch a bunch of times lol
he'll just sneak away from what ever crap coin he is pushing and make another one
and then when confronted with anything that looks bad he will simply just say
oh oh well i didn't make the coin i just posted it.. and then call you a troll and delete your posts to cover it up.
he's done that to me AND other guys..

lesson is stay away from his garbage AND the painfully obvious..
Learn WHO is making the coin before jumping on the band wagon.

FreeTrade last fall before the MemoryCoin relaunch:

Guess he changed his mind about moving on?

I am interested in what other coins he was involved with besides the both memorycoin scams?

i pointed out a mountain of scammyshit from that guy long ago and no one cared.. the scene is a joke period.
and sorry i am sick of having to repeat myself when they will just keep scamming and name changing and spamming coins to wear us down..
give it a bit and the douche will have Memorycoin v3 out (as long as he has a financial advantage / incentive)
am i the only one getting sick of the scammers that just won't leave and keep pushing shit on us ?

I here you. I could smell this from across the ocean. The problem is as long as there are people willing to follow, he is going to get away with it. It's sad but he will most likely debut a new coin under a new name and no one will know until it's too late. I suggest people stick to the classic coins. The tried and tested ones, but with the prospect of cashing in on a new fad coin, this ain't gonna happen.

FreeTrade has been missing from the forums for the last month and the MMC community didn't notice until recently and decided to vote him out. He then said that it was the true test of a coin to survive without its founder. Wtf? With MEC, he said that the coin couldn't last without the founder, contacted bter, had coin removed and then walked away to Dev PTS for another group and then MMC.  

It looks as though his interest is in creating a DAC for Bitshares. I am guessing he spent the last month creating a new persona and will use this to release a new coin under the guise of Bitshares which enables a premine distribution to their holders and more than likely will benefit himself more than any other PTS or AGS Bitshares holder.

Proceed with extreme caution.