Bitcoin Forum

Edit: Someone suggested a coin be created- it was created prior to this announcement;
but this is right on track with what PHCoin is doing today.  http://www.PHCoin.org

Now Distributing Funds in multiple accepted methods.

Thread: https://bitcointalk.org/index.php?topic=589992

PHCoin display's (PROOF OF DISTRIBUTION) with the picture locating Explorer, Data outline, Documentation, and Transparency sheets.

I am now taking a stand to be the first to set an industry standard for Proof of Distribution (POD).

We all know there is digital currencies being released today with premine; it is normal for a developer to take a premine, it is NOT Normal for a developer to not fully disclose where the premine is going.  Therefore, I am starting the trend in the industry moving forward with a Proof of Distribution (POD) modeled layout.

The problem is the community is losing faith in new released digital currencies that have any kind of premine; however, a developer or a group behind the coin may need it for many purposes such as country based coins that distribute coins to the residents of that country (like Auroracoin).    When people are worried the premine could be dumped on the market at anytime; this gives people less faith into the coin, and then causes drama and frustration starting with miners then investors and anyone looking to adopt the coin.

This is why Proof of Distribution model was born and it starts here (Today) with each of you who support this plan.
Clear cut transparency is underway...

Moving forward, any digital currency currently with any premine amount should provide a clear, and transparent
plan of action (document) elaborating where, why, and how the premine will be distributed.

These are some questions that should be answered
A) What percentage of the premine does the Development team need?
B) How much of the premine is going into marketing? and where to?
C) How much of the premine is going into bounties?
D) Who is the person that made the payment?
E) What is the address(s) of all the premined coins?

We need further clear answers; offering transparency in the industry- and without a clear POD model; the coin should not be touched, in my opinion.
Any coin team needs to provide insight as to what miners and investors are getting involved in.. and must have a clear objective in place for that with POD.

Example of a spreadsheet we should expect to see with more digital currencies that have a premine

https://i.imgur.com/7lhSxtU.png

This should be updated frequently on a daily basis or a maximum of 7 days.
Questions should be asked by you (the people) supporting the digital currency
and the group leading the coin should be able to answer those questions about it.

This industry needs more transparency and it is time to set an industry standard of Proof of Distribution (POD)

I am open to hearing more suggestions to improve POD with the community.
Now it's your turn to add into this...

What would you like to see added?
What kind of questions would you ask the group leading the digital currency?
Is there anything missing on the spreadsheet template that should be added?

I will finalize the spreadsheet template and release a copy here for everyone to utilize as a resource.

Edit: Someone suggested a coin be created- it was created prior to this announcement; but this is right on track with what PHCoin is doing today.
http://www.PHCoin.org (Now Distributing Funds in multiple accepted methods).  Thread: https://bitcointalk.org/index.php?topic=589992

If you want more talk about POD, lets discuss it here, if you have specific questions, lets chat here: www.PHCointalk.org

I must add; this goes to be the same with IPO collecting projects or coins.

POD can be attached to anything really
if it's an IPO, we need a document and regularly updated Proof of Distribution (POD)
layout giving us answers to those questions. If it's a company fund raising for their project,
they must underline answers and give us info as to who or what receives funding.

1) One of my major questions for IPO coins is -- what are you going to be using the BTC collected?    No one seems to ever answer this.

2) What about PREMINE? How do you suppose this is distribution? What rewards do you provide for what reason or cause? Give is the why?

3) Who or what is receiving the funds? and we need an outline of a complete plan of action for the next 6 months as to how the IPO money will be distributed.

This all starts from you, the community, are you ready to push this industry standard?

FAQ:

How do you identify good talent?
It all starts with questions you ask... it's really an on-going relationship anytime you meet someone you may or may not want to associate with your business.  
Ask some questions.

What do you think about PHCoin?
I am working on PHCoin because I love how it opens doors to new things.

Better idea: Stop being fucking morons and investing in premined coins or those with an IPO - If you invest in either, you deserve to lose all your coins

A fool and his money are soon parted...never more accurate than it is in cryptos

premine is valid if big part of it is distributed. i dont care if dev keeps some for himself.

We can stay away; but it doesn't solve any problems.

There is no stopping it- sure, people have choices to make. I haven't seen too many people get taken by premined coins; but it is better to follow the rules of thumb and this is why I opened the POD discussions.  Now we as a community can have a collaborative effort to help the industry's growth.


Agree; as long as they distribute to an address we can watch at all times (Full disclosure) and transparency would be necessary if they plan to pay themselves for the project.

I don't mind if they take some of the premine for themselves either; as long as they give clear objectives how it will be used.

Straight to their pocket. Stop trying to protect people from being stupid, and encourage them to stop being stupid instead

I mean, go ahead and push that as your agenda;  my agenda is different than yours.

I am just simply educating and providing resources for these described scenarios.

bump

Why did no one talk more about this? I love this distribution model.  Nice examples.

It's junk, but I'm going to give it a try.

premine is valid if big part of it is distributed. i dont care if dev keeps some for himself.


but how to get this coin??

how to get this coin ??

and we need more information,

ps: premine is valid if big part of it is distributed. i dont care if dev keeps some for himself.
 :o

That is my point also, this would be perfect if there was a coin to follow these steps.

New Solution (Proof of Jobs + Proof of Distribution) Pre Announcement to the Digital Currency Community: https://bitcointalk.org/index.php?topic=589992

I just posted this to the Philippines Community on bitcointalk:

TL;DR: I have this wonderful plan for how to distribute value. Now, could someone please create some?

Response: Worry about how to create value first. Then we can talk about how to distribute it fairly and openly. The distribution is *not* the hard part.

Airdropping it to a large and/or specific geographic area is, I haven't seen a single coin solve that problem yet. 

100% agree with you; nice statements.  I am a ripple adopter in some sense, and I think PHCoin Team would invite Ripple Labs for any ideas? 
Thought there is something of value left on the table, so I will help provide that.

I believe in the same plan of action in offering value, this is one reason the thread was created in the first place.

PHCoin is the connection to Proof of Jobs and Proof of Distribution
FAQ
Proof of Jobs by PHCoin Team: http://phcoin.org/access/proof-of-jobs-hiring-for-phcoin-team
What is PHCoin? http://phcoin.org/access/what-is-ph-coin/
What is proof of jobs?

bump because proof of distribution is commencing in about 30 days after the www.phcoin.org launches its coin.

But there are some coins that follow this like GOOD.

is there already have premine coin?  i have ever seen  ???

Is POD decentralized?

yes, it can be with RTV, right to vote.

BUMP for awareness

premine is accepted but premine should be control in a reasonable stage .

+1 this is what phcoin is doing - pushing transparency with premine.

Here is my conclusion of Proof of Distribution...

1)  Transparency with a block explorer to view where funding is going
2)  The team allows the community to join in the voting process so decisions work with the community
3)  Details and documents are created to layering the plans for funding (Bounties, rewards, sponsorships, etc..)

I think this is what any premined digital currency is missing, and Mike Scofield is up to par for proof of distribution.

There is still some missing information that we need for PHCoin.  This should be a good role model for the way the community looks at trusting their time, support or investment.

Sam,

Try not to over think it.  The proof of distribution concept is simply to prove that there is funding being provided for the goals and visions to help the digital currency industry (our industry) grow with decentralization... starting with PHCoin (PHC) payments and X11 mining at www.phcoin.org and thread: https://bitcointalk.org/index.php?topic=589992.msg6468428#msg6468428

K, Mike. I am a supporter of phcoin.

We need more people like you in the crypto currency space.

Sam, can you organize some threads for PHCoin? We can tip you from the Rewards Payouts.. https://bitcointalk.org/index.php?topic=589992.new#new

Find a thread at the rewards section or start your own: http://phcointalk.org/categories/reward

Proof of Distribution?
So can you distribute some coin to me?
where is the wallet?

We cannot organize giveaway threads on bitcointalk. Wallet found at www.PHCoin.org (13,500,000 Premined - current Supply: 13871050 PHC)
Highest peak Hash rate: 8 GH/S
Highest difficulty peak: 170 
Public ledger: http://phcoin.no-ip.biz

Please do post your wallet at the external talk for specifically about PHCOIN, simple registration @ http://phcointalk.org/discussion/58/phcoin-sign-up-rewards-bounty

For the next 24 hours, each user will get 2 PHCoin
then it will drop to 1 PHC for 3 days...
then half at the 4th day for 0.5 PHC

I believe in this and that is why I believe in phcoin.

Proof of Distribution should have a big launch party if you can pull it off Mike

Is this project still alive?