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Rebranding I have the intention of rebranding TME under a different, better name. This would likely not occur for 6-12 months. A snapshot of holdings and genesis batches would be taken, and a newer contract deployed.
This would also give the opportunity to make the base token fully compatible and have it implement totalSupply(). This would allow the base token to be traded on EtherDelta and other decentralized exchanges. The situation with Nova has brought to my attention that using only centralized exchanges to trade puts the token holders at the mercy of exchange issues. Exchanges Although I understand the desire to trade, I think that the value of the base token should be based on the delivery of a service. Therefore I am advocating to wait until the new service is released and the base token rebranded to trade the base token. If an exchange picks TME up in the meantime, that is fine. If the community wants to work to put TME on more exchanges, they can. I do understand that NovaExchange gained TME a lot of publicity. "A snapshot of holdings and genesis batches would be taken", does that mean we'd have to do anything on our end to get this coin if say we are storing everything in myetherwallet? My concern is forgetting to come back in 6 months then finding out that I missed my chance to convert TME to x other coin all due to not checking this forum everyday. |
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Hi All,
Just to clarify why we are adding ETH to the ICO, and why that is important:
1. We are discussing with partners for the ICO, these partners need to get paid. If we pay them in MNE this will create an incentive for them to sell MNE and therefore it will be bad for the MNE ecosystem as lots of MNE will be in few hands.
2. While Minereum launch was an isolated announcement on bitcointalk, Artemine will be much bigger than that, and with bigger audience we need to facilitate the way people can join, for new comers ETH is the option in (all) ICOs.
3. By adding ETH it doesn't mean at all that it's bad for MNE, for the contrary:
First, there is more likely wood for new people to join Artemine, and new people that know about Artemine will also know about Minereum for the first time.
And second, All received MNEs will be burned in any case, so the more MNE join Artemine, the less supply there will be in Minereum which is good for the ecosystem.
4. In Artemine, we are allowing users to put their Genesis Addresses for Sale (Automatically), that means, if you are a MNE holder you will have the option to create one (or more) Artemine Addresses, and if you convert your MNE into ART, you will not only get ART but you will also get access to this new market we are trying to create.
About the conversion of Genesis Addresses:
- Users will be able get Artemine by participating with MNE, this includes Genesis Address Holders. They will be able to send the (available) coins from their address and convert into Artemine.
I hope it clarifies, we know it's not easy to please everyone but after the long discussions we had in our team this is what was decided.
So what will the exchange rate be for purchasing ART with MNE? From the whitepaper it says, "For example assuming the exchange rate between ETH and ART is 1 to 1000, users contributing 1 ETH will get 1000 ART in their Genesis Address. This amount will then be automatically mined for X amount of years. ( The same applies for MNE contributions)" Does that mean 1 MNE is also worth 1000 ART  ? The way it's worded makes it seem that way, that's a big deal if so. It would be much better to buy MNE for ART than to use ETH in that case. I believe a price hasn't been set yet. That was just an example Yes, but his question is if 1 MNE will give you the same amount of ART as 1 ETH. While it could be interpreted that way, based on the wording, I think you can safely assume that is not what is meant. A better way to word what they meant would be something like this: For example, Depending on the value/price of the coins, the amount of ART received will vary. At the current prices 1 ETH will get you 300 ART while 1 MNE will get you 1 ART since Minereum is currently worth 300 times less than ETH. Obviously since ETH is valued so much higher than MNE, it will always be the case that ETH will get you more ART than MNE. However, I think we all agree that it would better if using MNE also came with an incentive, even a small one. For example, every 100 MNE used to swap for ART, you will be rewarded 20 extra ART. Or if you took the actual dollar amounts. For every 1 dollar spent using ETH you receive 1 ART but for every 1 dollar spent using MNE you get 2 ART. Yep, exactly. I wasn't as clear as I wanted to be but you get the point now  |
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Hi All,
Just to clarify why we are adding ETH to the ICO, and why that is important:
1. We are discussing with partners for the ICO, these partners need to get paid. If we pay them in MNE this will create an incentive for them to sell MNE and therefore it will be bad for the MNE ecosystem as lots of MNE will be in few hands.
2. While Minereum launch was an isolated announcement on bitcointalk, Artemine will be much bigger than that, and with bigger audience we need to facilitate the way people can join, for new comers ETH is the option in (all) ICOs.
3. By adding ETH it doesn't mean at all that it's bad for MNE, for the contrary:
First, there is more likely wood for new people to join Artemine, and new people that know about Artemine will also know about Minereum for the first time.
And second, All received MNEs will be burned in any case, so the more MNE join Artemine, the less supply there will be in Minereum which is good for the ecosystem.
4. In Artemine, we are allowing users to put their Genesis Addresses for Sale (Automatically), that means, if you are a MNE holder you will have the option to create one (or more) Artemine Addresses, and if you convert your MNE into ART, you will not only get ART but you will also get access to this new market we are trying to create.
About the conversion of Genesis Addresses:
- Users will be able get Artemine by participating with MNE, this includes Genesis Address Holders. They will be able to send the (available) coins from their address and convert into Artemine.
I hope it clarifies, we know it's not easy to please everyone but after the long discussions we had in our team this is what was decided.
So what will the exchange rate be for purchasing ART with MNE? From the whitepaper it says, "For example assuming the exchange rate between ETH and ART is 1 to 1000, users contributing 1 ETH will get 1000 ART in their Genesis Address. This amount will then be automatically mined for X amount of years. ( The same applies for MNE contributions)" Does that mean 1 MNE is also worth 1000 ART ? The way it's worded makes it seem that way, that's a big deal if so. It would be much better to buy MNE for ART than to use ETH in that case. I believe a price hasn't been set yet. That was just an example Yeah, but the most important question we should be asking is what the exchange rate will be (and it should be heavily in our favor, especially since people bought at $10+). To promote MNE, we should in that example be able to get more ART for cheaper using MNE than ETH. People can still get ART using ETH, but it should be better to get it through MNE. If that's not the case then everyone should be rather pissed off and it'll look like the developer never really cared for the people that truly funded ART which are people that supported MNE. Example of what I'd expect (not these exact numbers but conversion rate wise being in our favor): 1 ETH = 1000 ART OR 5 MNE = 1000 ART |
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Hi All,
Just to clarify why we are adding ETH to the ICO, and why that is important:
1. We are discussing with partners for the ICO, these partners need to get paid. If we pay them in MNE this will create an incentive for them to sell MNE and therefore it will be bad for the MNE ecosystem as lots of MNE will be in few hands.
2. While Minereum launch was an isolated announcement on bitcointalk, Artemine will be much bigger than that, and with bigger audience we need to facilitate the way people can join, for new comers ETH is the option in (all) ICOs.
3. By adding ETH it doesn't mean at all that it's bad for MNE, for the contrary:
First, there is more likely wood for new people to join Artemine, and new people that know about Artemine will also know about Minereum for the first time.
And second, All received MNEs will be burned in any case, so the more MNE join Artemine, the less supply there will be in Minereum which is good for the ecosystem.
4. In Artemine, we are allowing users to put their Genesis Addresses for Sale (Automatically), that means, if you are a MNE holder you will have the option to create one (or more) Artemine Addresses, and if you convert your MNE into ART, you will not only get ART but you will also get access to this new market we are trying to create.
About the conversion of Genesis Addresses:
- Users will be able get Artemine by participating with MNE, this includes Genesis Address Holders. They will be able to send the (available) coins from their address and convert into Artemine.
I hope it clarifies, we know it's not easy to please everyone but after the long discussions we had in our team this is what was decided.
So what will the exchange rate be for purchasing ART with MNE? From the whitepaper it says, "For example assuming the exchange rate between ETH and ART is 1 to 1000, users contributing 1 ETH will get 1000 ART in their Genesis Address. This amount will then be automatically mined for X amount of years. ( The same applies for MNE contributions)" Does that mean 1 MNE is also worth 1000 ART ? The way it's worded makes it seem that way, that's a big deal if so. It would be much better to buy MNE for ART than to use ETH in that case. |
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Where's the best place to withdraw it? Should I send it to an EtherDelta address and it just shows up?
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Getting error on Nova as well when trying to buy with ETH: "Trades for TME has been disabled, probably wallet issues. Check coininfo under balances."
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Here's what really got me excited about this currency when reading one of the papers:
In the early days, cryptocurrencies were mined through hashing power. Since the release of Bitcoin, this hashing power has used a tremendous amount of energy and has resulted in large miners controlling a majority say in future developments of the currency. Timereum is trying to fix some of these issues by creating a new type of mining system called proof of completion (POC). Is this statement even correct? It's really only doing it for smart contracts, not competing with Bitcoin, correct? Maybe I'm missing something.
Where I'm also confused
- Awesome, so we have POC system. But really the only people that can mine are the people that got in early with the airdrop (correct me if I'm wrong). So if I buy up TME on an exchange, I can't mine it, which gets rid of the coolness factor of the coin for me as a holder correct? I'm just holding on for value and really nothing else. I get none of the advantages of the people that got the coin from the airdrop.
- Here's a direct quote from the dev, "This coin can be used as a base token to create many more coins and manually generating contracts." this has me even more confused. Can someone explain what are some examples of good uses for this coin vs say Bitcoin? Why are the advantages and disadvantages, dumb this down for me (is this just a way to replace lending services, or is that just one of the features). After trying to go through all the papers more than once, I see some cool possibilities, but I'm not connecting the dots.
You should not be confuse this is great opportunity for anyone .  For this to be a great opportunity people have to understand it, which starts with people like you explaining it to people like me that don't understand the opportunity. Hopefully you or someone else can clear it up for me. The preface is mainly a comment on ways to reduce or redirect energy use. The lending system will be a new smart contract token that uses a similar mining system to TME. TME will be able to be burned and converted to this new currency at a conversion ratio. This will increase the value per TME. Anyone will be able to mine the new token, regardless of whether they bought the token on an exchange or converted TME. TME genesis holders will have certain privileges concerning the conversion of non-mined TME batches. TME will also be convertible to future projects after the lending service. You can think of TME as the token that lays the conceptual groundwork for many more services, and which can be converted into holdings of them in the future. The mining system with the new token is one and the same with the lending service. When a borrower and a lender complete a successful loan or the borrower pays off an installment, both parties will benefit. You can read about specific examples here.There are precautions put in place to prevent infinite mining, and ETH collateral will be able to be posted by the borrower if desired. Thanks for the reply. So I'm putting money into TME to eventually be able to either convert it to other applications into the future (which the next coin will allow everyone to mine it sounds like) or I could keep it and since TME is burned, the value should go up since other people are putting their TME in these tokens. Think I got it, interesting. |
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Here's what really got me excited about this currency when reading one of the papers:
In the early days, cryptocurrencies were mined through hashing power. Since the release of Bitcoin, this hashing power has used a tremendous amount of energy and has resulted in large miners controlling a majority say in future developments of the currency. Timereum is trying to fix some of these issues by creating a new type of mining system called proof of completion (POC). Is this statement even correct? It's really only doing it for smart contracts, not competing with Bitcoin, correct? Maybe I'm missing something.
Where I'm also confused
- Awesome, so we have POC system. But really the only people that can mine are the people that got in early with the airdrop (correct me if I'm wrong). So if I buy up TME on an exchange, I can't mine it, which gets rid of the coolness factor of the coin for me as a holder correct? I'm just holding on for value and really nothing else. I get none of the advantages of the people that got the coin from the airdrop.
- Here's a direct quote from the dev, "This coin can be used as a base token to create many more coins and manually generating contracts." this has me even more confused. Can someone explain what are some examples of good uses for this coin vs say Bitcoin? Why are the advantages and disadvantages, dumb this down for me (is this just a way to replace lending services, or is that just one of the features). After trying to go through all the papers more than once, I see some cool possibilities, but I'm not connecting the dots.
You should not be confuse this is great opportunity for anyone . For this to be a great opportunity people have to understand it, which starts with people like you explaining it to people like me that don't understand the opportunity. Hopefully you or someone else can clear it up for me. |
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Here's what really got me excited about this currency when reading one of the papers:
In the early days, cryptocurrencies were mined through hashing power. Since the release of Bitcoin, this hashing power has used a tremendous amount of energy and has resulted in large miners controlling a majority say in future developments of the currency. Timereum is trying to fix some of these issues by creating a new type of mining system called proof of completion (POC). Is this statement even correct? It's really only doing it for smart contracts, not competing with Bitcoin, correct? Maybe I'm missing something.
Where I'm also confused
- Awesome, so we have POC system. But really the only people that can mine are the people that got in early with the airdrop (correct me if I'm wrong). So if I buy up TME on an exchange, I can't mine it, which gets rid of the coolness factor of the coin for me as a holder correct? I'm just holding on for value and really nothing else. I get none of the advantages of the people that got the coin from the airdrop.
- Here's a direct quote from the dev, "This coin can be used as a base token to create many more coins and manually generating contracts." this has me even more confused. Can someone explain what are some examples of good uses for this coin vs say Bitcoin? Why are the advantages and disadvantages, dumb this down for me (is this just a way to replace lending services, or is that just one of the features). After trying to go through all the papers more than once, I see some cool possibilities, but I'm not connecting the dots.
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