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Just to clarify, and in case anyone thinks otherwise, regardless of the price it hits on the exchange, I will still be giving away 2390 coins. I can force people to distribute them, or give them away, but if they don't, yes, the coin will be dead.
I hope greed doesn't kill this coin.
1 - The dev has been totally transparent about his transactions. Infact the dev sent me the entire record of his transaction log, so I can see every single transaction he's ever made. This dev couldn't be any more transparent.
2 - Yes, there are greedy hoarder. It is sad, but it is a reality when you are dealing with a currency. There are also lots of generous and hardworking people here too. So you could be a cynic, or you could look at all the good things people are doing.
This is far from a failure. This is unknown territory. What if it hits an exchange and is dumped? So what? Cheap premine for everyone. If it goes up in price, then those people will be winners. It's impossible for distribution to ever be 100% fair. I think when you look at NXT and other currencies of the like, we're one of the fairest by far.
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Why should security be the sole responsibility of the account holder? If my house got broken into I wouldn't expect people to blame me for not storing my wallet in a safe.
Nor would I expect my bank to let someone crack my credit card pin and not alert me something was up.
Madness.
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Just my 2 cents, but reserving 50k for faucets seems a bit too high for me.
It comes with caveats, and the one person currently working on a faucet says he will be filling it up with the bounty. |
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50 Sent. Let me know when you're done so I can leave some positive trust. If it's popular send me a PM and I can send more.
Thank you. I have it just made public. Hope to large resonant  Germany is known for its efficiency, I'm sure it will be popular.  And in this forum also for its altcoin dislike unfortunately, but there seems to be some interest  Well, if you can sell it to the Germans, you can sell it to anyone.  |
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Lets try! 1EYH5ox9ctHDiaNG8ViynDhe2Ri24JRnSz Enjoy.  |
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I've received a bunch of small payments from mining. Should I send the balance to myself to reset the coinage so their all the same, or does it matter?
I wouldn't, don't waste your already accrued time on the coinage. Just keep filling the silo with that grain. That's a lot of PoS blocks Had my wallet off a few days, switching operating systems, nice surprise when the wallet synced. Coin is running great btw, real smooth, nice work! Yes you don't need to have wallet open all the time, although you get PoS in time, but usually small coins, if you accumulate some time then open the wallet, you get bigger ones, as the coin-day accumulates, it will never be lost because you did not open the wallet. Wouldn't you theoretically earn more interest over time by keeping your wallet open more often? If you receive small amounts often, then the earliest ones would mature and themselves earn interest, compared to leaving the wallet closed and receiving the interest all in one go, where in that time you wouldn't have earned any compound interest. Hope that makes sense. It's hard to put into words. |
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If someone sends me some PMC for testing (and for me ), I'll work on putting this on Poloniex. Address: 1F9YtsAHSLZFboqHUVEaXW7QVE9tMYsXv8 Sent. |
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My give away is done. I can do another one for 1000 PMC with 5 PMC each. While I do believe in promotional give aways, some people just don't have the means - it's not bad to have many little guys out there getting a few coins in their pockets.
However, the problem with many different accounts using different addresses all going to the same wallet IS a problem. We are also seeing influx of greedy chinese alt accounts who are here to beg and deceive.
We need to set up a condition of some sorts for each giveaways that would shut out 3-4 day old alt accounts by default. Post substance, days active, activity, date of registration, etc.
Exceptions would be made, but that would have to be after some consideration.
As many have said, this will only stay within handful of people on this sub forum if it doesn't get out. We need to have this on as many hands as possible, and even the promotional give aways will result in handful of these forum goers getting the coins.
Any ideas about spreading this out will be welcome.
Yeah, I haven't heard many ideas of how we could spread Premine far and wide. I'm open to suggestions. Perhaps even need a small bounty just to get a thread going for people to suggest ways it could be done. We need to start spending Premine on things that benefit Premine. |
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Careful...the big stake holder wallets will get hacked  Trust the dev to do this, and no one else. Sucks. If you can think of a better way to promote transparency without getting your coins jacked, let us know. Also, Nullu I hope you encrypted, backed up, and secured that wallet. I also hope you cleaned out your computer and done a good deal of anti-bot anti-virus scanning. After doing this, wallet should be secure in a moderate sense - I suggest paper wallets and cold storage back up just in case. Of course....this should be common knowledge Lastly, I have a feeling at most 20 to 30 people are holding the majority of this coin right now. Distribution is key Also, my apologies for not including the names - but it seemed almost pointless as we can exclude ALL the 0-10 activity 2 day old accounts, and it's no problem to make one of those with a different address you can generate. You can always 'search' Dev, if you are reading this, please consider putting up a pie chart or something similar indicated which portion of the coin belongs to who - without revealing the identity of the holders (user 146 or something). It will give us an idea of what the proportion is, and not wind up with just 20 people holding 5000 each and having control of 20% of the entire coin supply. I believe the best option would be people to limit themselves to 2000 at most, and distribute the rest to as many hands as possible via promotional give aways and bounties for faucets, shops, exchanges (not just for btc, but for other coins as well - LTC, WDC, PPC, NMC, DOGE, etc.). If we can have more than 1000 individuals on this forum holding on to some amount of PMC, and probably more outside, than we can try this out on the exchanges. I was actually going to simply export the transaction logs to CSV, remove the usernames, and post it for anybody wanting to read it. Seemed easier. It would be easy to create a chart using the CSV data, so please do. I also know some VBA scripting, so if we need to do any fancy spreadsheet calculations, I might be able to whip something up for us. |
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Reward in catcoins?
I know a really good graphic artist that could be persuaded to make an awesome logo for a few catcoins.
This sounds promising. +1 |
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My wallets are secure. I employ best practices when I hold something valuable/potentially valuable.
I'm putting my stake in cold storage, but will leave the rest in my wallet for promotion.
Just mined another block. That's 4 today. Pity they're empty blocks. It'll be more fun when they have something in them. Even if it's just 0.1 PMC.
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Coinedup sucks lagger :@
Coinedup. Ugh. The lag. ¬_¬ |
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The dev should have a record in his wallet of the largest quantities he sent out. Didn't someone compile a list of the addresses in this thread? If we have the names we can contact all the big holders and have a sort of group of stakeholders on the PMC forums and discuss how best to move forward. As the ones with the most influence I'm sure most of us would like to see PMC do well.
I have got the list right now as I set the bounty for it, sadly it doesn't contain the associated names, as my edit seemed to be too late. I had plans regarding further filtering out members that already got their coins with this list and to use it for mass distribution in the future. But sure, I can share it with those who are interested. It would be handy to know who the big stakeholders are. I'd really need to know the forum name associated with the wallet address for it to be useful. Either way I still need the dev to send me a list of the largest payouts he sent, then comb this thread and the forum for the largest handouts, then go through the process of trying to organise the group. |
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I think a major problem for now, distribution-wise, comes from that we supplied the first wave of rather lucky people with a big percentage of the whole coins. Redistribution needs to be done, even for holder with lower amounts(20-100), and of course especially by the big ones. If you have gained some coins out of this: fine. But what about the rest of the people that will only hear of this coins by friends, at a later time through these forums and so on? Of course, we can argue that we "deserve" slightly bigger amounts of the coins than they do, as a completly equal distribution is just unrealistic and constantly handing out bigger figures hinders the establishment of a basic level for the price. Is a big faucet the solution for all of our problems? It surely will not be, as a new individual wouldn't be satisfied with such peanuts. Maybe we need to establish more competition regarding this coin, and to figure out how this could be done best should be our next step.
All things considered, you have to have some big stakeholders, a moderate amount of medium stakeholders, and a lot of small stake holders. That's just the way it has to be. If it was fair we'd all have exactly the same amount of coins, but that's impractical and nigh on impossible. If you want unfair distribution, take a look at some other coins that employ a similar model. I can name a few which are monstrously unfairly distributed. I absolutely agree that we do need competitions and promotions and awards etc. I've stated several times that I have 2000 PMC to give away, 2560 total, including donations. I am more than willing to distribute. Now we need ideas. |
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Well, mining is still an integral part of the coin. It will still need to be mined to support the network, and if the coin becomes valuable, which provided this level of activity is sustained, seems likely, then miners will get a worthwhile return on mining tx fees.
All it requires is for enough people to be using PMC for this to happen. That's why it has to be distributed. It simply does not work if it doesn't.
However, it doesn't have to be given away for free. It's already becoming more scarce.
I still have a good amount to give away though, so provided the majority of big holders do the same, then the coin will be valuable. However, it would only take a couple of hoarders to make it worthless, so you have to ask yourself how many who got an initial stake have vanished and are just sitting on their coins letting everyone else do the work.
Like I've said previously though, people of that mindset just dump coins the first chance they get. They aren't interested in potential value or speculation. They, ironically, will be the biggest losers of all. The winners will be the ones who work hard to promote PMC, and have faith that it will gain value.
As Benezivas rightly says though, it's too early to be thinking about prices and value, but we should start thinking of novel ways to give away PMC, rather than just hand it out.
True. Right now I am sitting on about 238 pmc. I believe those hoarding 5000 + coins (which is about 1% of the supply) would be wise to limit themselves to a certain degree if they want this coin to take off at all since distribution is key. However, as you said we can't just give things out without promotional ideas. How about a few big holders get together and announce a HUGE twitter/facebook/reddit/blog promotion campaign with about 10,000 PMC in stock for people who make efforts to promote this coin? It could even bring in people from outside the forums. +1 I would like this. I am trying to find ways to spread the coins which will have a larger impact. The dev should have a record in his wallet of the largest quantities he sent out. Didn't someone compile a list of the addresses in this thread? If we have the names we can contact all the big holders and have a sort of group of stakeholders on the PMC forums and discuss how best to move forward. As the ones with the most influence I'm sure most of us would like to see PMC do well. |
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Buy orders
Price KDC BTC
0.00023149 38021.4386 8.80158283 There's big money in KDC right now. Big big money. Must be mental if you think I'd sell that cheap.. |
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What do you guys think about KDC in a month $2, possible or not  Quite possible indeed. I wouldn't want to be the one that sells it all now and watches the price go up. I'd regret that more than lose a few days of mining. However, being completely honest, I have not spent any BTC on KDC, so I cannot tell someone who has spent a lot of money what they should do. Got to weigh the risk vs the reward in all trades. I'm expecting the price to eventually go up and not come back down, but when that will happen I don't know. |
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Well, mining is still an integral part of the coin. It will still need to be mined to support the network, and if the coin becomes valuable, which provided this level of activity is sustained, seems likely, then miners will get a worthwhile return on mining tx fees.
All it requires is for enough people to be using PMC for this to happen. That's why it has to be distributed. It simply does not work if it doesn't.
However, it doesn't have to be given away for free. It's already becoming more scarce.
I still have a good amount to give away though, so provided the majority of big holders do the same, then the coin will be valuable. However, it would only take a couple of hoarders to make it worthless, so you have to ask yourself how many who got an initial stake have vanished and are just sitting on their coins letting everyone else do the work.
Like I've said previously though, people of that mindset just dump coins the first chance they get. They aren't interested in potential value or speculation. They, ironically, will be the biggest losers of all. The winners will be the ones who work hard to promote PMC, and have faith that it will gain value.
As Benezivas rightly says though, it's too early to be thinking about prices and value, but we should start thinking of novel ways to give away PMC, rather than just hand it out.
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Just finished compiling the list of addresses listed on all 86 pages of this thread, sent it in to Benezivas for review. Me poor fingers.... I also am running a give away here: https://bitcointalk.org/index.php?topic=432050.0;allI will also run another give away if nullu or the dev can offer the funds. 500 sounds just enough. I would love some donations 12We2hNanAV88pRtsStLt11y4YvspThXQt Let me know when you want me to run that next give away- I will post here when the current one is finished. Ty for your effort, I've awarded you with 75 PMC. I appreciate your donations I wonder what the coin market prices will look like, now that we took mining prices more or less out of the equation. What would we base the bottom price line on? The value of lite coin to start with? There isn't anything else this coin can be pegged to, unelss you ignore the fact that it's scrypt due to the knowledge that there is no more mining to be done. If that's the case, should we peg it to BTC? So each coin will be worth....(21 million / 500k) * 851 USD = $35,742?! LOL we can dream. Even if the coin is 1 = 1 for btc, that's still quite a bit of money. Well, for one 1 PMC to = 1 BTC, there has to be as much market capital in PMC as there is in BTC, which realistically isn't going to happen any time soon. Not saying the coins couldn't be worth a lot. Could fetch 0.01 realistically, but it depends on market adoption. 42 was worth an insane amount per coin, but nobody was buying whole 42 coins. Even with a modest market cap, Premine would be worth quite a lot. It's whether or not the market wants it, uses it, or thinks it is valuable. If enough people believe it to be valuable, then it will be. |
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