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It seems like PMC is stabilizing around 20k Satoshi, which is really neat compared to last week's 8k.
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You have no idea how much I love your art, iampingu.
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I would suggest adding the Picture from the wallet into the OP, to make this thread look at least a bit appealing.
Good idea, thanks! Also, I really wouldn't use the phrase "quark without the premine" around here. There are a lot of butthurt quarkholders that will FUD-spam your thread to death as quark was indeed not premined, just instamined. Thanks, can I get your wallet address? 47P9ZBwt1S7TnMeiRXHPZvDr3D2Gxo9Qqs , you might want to work on a new logo in the near future or have a contest, as the current one is pretty.. plain. Good for the wallet, but not the best for a first impression inside the thread. Edit: Cheers, ty for the coins. |
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I would suggest adding the Picture from the wallet into the OP, to make this thread look at least a bit appealing.
Good idea, thanks! Also, I really wouldn't use the phrase "quark without the premine" around here. There are a lot of butthurt quarkholders that will FUD-spam your thread to death as quark was indeed not premined, just instamined. |
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I would suggest adding the Picture from the wallet into the OP, to make this thread look at least a bit appealing.
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Oh well, I guess I'll give this coin a try..
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So it's no premine except for the 20480 premine...  Compare that to Quarks premine of 0. I hate bullshit liars. Fuck this coin. Jesus, crying about 2 Blocks. 2 Normal friggin blocks. |
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Looks like the miner is getting picked up but if you read the notes "not-a-virus:RiskTool.Win64.BitCoinMiner.bn"
Then provide the wallets in a seperate upload. I am not going to touch this with a 20-meter pole until then. |
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Good to hear that it was the faucet in the end, but that doesn't mean that an individual might easily stack up these amounts for a mediocre sum of btc. I hope that we can see an increase in the price soon and that a few dumpers won't ruin it again. |
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Now is my chance methinks
Go for it, tiger  . Other news today: The Premine post on CoinedUp's Reddit has had a lot of activity today, if you want this coin on a bigger exchange and haven't posted there yet: Go for it! |
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It seems like some fella just dumped his hoarded coins, must have been that guy that created the wall @ 32k Satoshi as this one is gone now.
Hopefully the other exchange comes online soon. I'm curious to see if the volume increases. edit: omg - yeah, that was alot of coins Well, I don't think that this had any effect on the market - except for a buywall being gone and a daytrader trying to push the price down again after he dumped so that he can buy in again cheap. On the upside: You can sell your coins at a higher rate again. The next mini-wall is at 31999 so I wouldn't suggest going much lower than that right now. Edit: And he dumped some more. Time to buy coins cheap for me :3 |
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It seems like some fella just dumped his hoarded coins, must have been that guy that created the wall @ 32k Satoshi as this one is gone now.
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Wow, there has been a lot of movement today and the price reached a new high, very glad to see that much movement  . I hope that we can form a community. How much work is it to set up a tip bot for reddit? I would be willing to pay a bounty for it. |
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I am too late for a few coins?
1LyCCD9HGS1hKzze1M4q8Vm5W24wrG3dnx
Jesus, this is like your 6th or 7th time asking for coins now in this thread. We don't want indiviuals to hoard their coins, we want them to spread to users that are new to premine. |
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I don't feel like there is enough movement and activity regarding this thread lately - anyone having ideas for kicking it up a bit again?
 Cats?Just playin - I hear ya  Is the posting of cat gifs already seen as spam? If anyone has ideas how to reach out to more people to use and get some premine, tell me. If you actually do it in an efficient way I am even willing to pay a bounty. |
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I don't feel like there is enough movement and activity regarding this thread lately - anyone having ideas for kicking it up a bit again?
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What did you mean with this comment? It's BitJohn indicating that Cryptsy finds Premine interesting. I thought that's what he said. I like the "there may be a pool" line. Exciting news in the world of Premine.  Block Rewarder has been topped up again. Payout rate has been slowed down to min 30 seconds to allow for an approx rate of 100 PMC in block bonuses a day. I think Benezivas makes some fantastic points. Not just about Premine, but what is at the core of every Cryptocurrency; our concept of value. In most coins this comes from mining, and while this still can be the case with Premine, the mining rewards are inherently linked to the movement of the coin. I believe it is this link which, when the coin does gain more exchange volume, will create a system that feeds on itself. Miners get more rewards, so move more coins, more coin movement will mean more miner rewards, and so on. As all the coins have been minted you can't put a cost on that minting process in same way like with other coins. The cost is in re-obtaining Premine, or recovering it from the network. As that is linked so directly to coin activity, then any idea of coin value is likely to come out of that process, as that is how Premine is essentially distributed at its core. I think the biggest advantage to Premine is this link. There's no potential huge influx in coins on the network due to a drop in a difficulty, something that plagues Cryptocurrencies. This I believe is one strength that hasn't been highlighted enough. The amount you mine is linked to the amount of transactions per block, as well as the difficulty. That makes for a very different type of coin. The only way there would be a huge influx is if there is huge activity, and the two essentially balance each other out, because if there is more activity, there would likely be a better price on the exchanges, and so more miners to distribute the tx fees to. Yeah, I can't tell exactly what he says his video feed is too crappy. The "somebody may have a pool" line is what makes me think you might be right. Yeah, that's what gave it away for me. I could just about hear him say Premine. Someone was offering to set up a pool a few pages ago, so it all adds up. I'm pretty confident he was talking about Premine. While I don't personally would get my hopes high right now, it would certainly add a really really fun variable into this experiment: Sudden exposure to a big market. I am currently not sure whether I should think of this to be a good or bad thing in the end, but it would certainly become really interesting regarding the network. Mind this: Once this coin hits cryptsy (if at all), the distribution phase will most likely be over and switched to the mining end. I don't want to say that this is a bad thing, but I wonder how many people are currently involved and if we shouldn't spread out the coin more in any way thinkable (give some to your personal friends or so) before this happens. It is very easy to become a hoarder right now due to the low prices over on poloniex. As I said: I can't tell what to do, really. I will personally spread out the coin to a few more people I know myself, but right now I am not sure on which other ways we can increase the distribution. |
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If Premine were valued equal to Bitcoin:
500,000 VS 21,000,000 coins
1 Premine = 42 BTC
10 Premine = 420 BTC
50 Premine = 2100 BTC
100 Premine = 4200 BTC
1000 Premine = 42000 BTC
If 1 BTC = $927
1 Premine = $38,934
5 Premine = $194,670
10 Premine = $389,340
100 Premine = $3,893,400
1000 Premine = $38,934,000
Percentage of total coins
50 = 0.01%
500 = 0.1%
5000 = 1%
50000 = 10%
500000 = 100%
In an alternate reality where everyone was using Premine as well as BTC. I wanted to use a relative example to show how a coin with a low total number could potentially be valued. This is purely theoretical. Numbers based on Premine being 500,000, but it's actually a bit less than that. Closer to 499,000. Not an example to in any way hype up the coin. Just as a relative example. If Premine had the exact market cap of BTC, then 1 Premine is, for all intents as purposes, equal to 42 BTC.
1 BTC would then be equal to 0.047 PMC. Or there abouts.
This - as you said it - are only dream figures, of course. I would be more interested to see this equation for a coin with a marketcap in the common, upper field (~5 mil market cap), as this would be more realistic dreaming for now. I think one of the core issues that PMC has to tackle and that no one seems to dare to mention is that we are creating value out of thin air here. PMC currently struggles to find a basic price as no one is really able to tell what the bottom value of this coin actually is. Usually, you can create a rough equasion based on power consumption of an average GPU/CPU/ASIC and put it into a relation with the number of coinsed mined per hour/per day and so on. PMC lacks this feature as the rewards are heavily volatile, ranging from 0-5 as I read it right now (of course, the 0 reward issue is currently not existent). Related to this is the idea of wealth linked to the creation of this coin: There was no IPO (which is good in my opinion), but at the same time no one paid a penny during the distribution phase, so we have no natural value for this coin, it was created out of thin air. I can understand the views of new users that visit this thread and think by themselves "why should I invest in a coin of which I don't even know how well it is distributed (a lot of possible heavy dumps), when I can't even be sure that these coins will ever be worth something?". We have to address these issues and make clear and transparent statements about the state of the coin and what to expect of it, what is planned for the future and why more people should get involved into this experiment. The market won't wait for us and every day that passes on which we don't actively engage in spreading this coin and the word is fuel for FUD addressing hoarders, sharks and greed. I want to start right now with a little experiment: Sit back for a minute and think about how we can solve these challenges and contribute to the conversation (and I don't mean one-liners here, I am expecting some thought-through statements that actually push the conversation forward). I am willing to pay 5 PMC to each good contribution (judged by myself) to the conversation, while I am expecting you to spread 2.5 PMC of this to other or new users, you may do with the rest as you please. I will only pay out 5 PMC per person once, but if you continue to contribute in a productive way, I am willing to pay further portions of 1 PMC to you (again: quality is judged by myself, and I am only willing to pay for real contributions). |
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how is the coin distributed? are there some people with more than 50k? if, how?
I doubt there is anybody with that much. Unless they bought it on the exchanges. I expected there to be a lot of dumping when we hit the exchanges, but it's been relatively subdued, all things considered. The dump is also now. All the 10 PMC giveaway from poloniex are sold little by little or are in orders. There is some microtrading done atm, I am not sure how to feel about thousands of PMC being available for little money. |
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