MemoryCoin - How To Game The Voting To Get Free Coins

[FreeTrade]

Some people have worked this out already, so to level the playing field, I'm writing an easy guide on how to do this.

Let's have a look at the current voting stats - there are two important figures.

Percentage of total issued coin voting: 11%
Droop Quota: 271.66509708

Only 11% of coins are voting - and you only need 20% of the voting coins to guarantee a grant win . . so if you have a little over 2% of the coins currently issued, you can vote for yourself to receive more coins. How many coins do you need - that's the Droop Quota - only 272 coins will guarantee a win. You only need to vote once and you'll get 24 coins every two hours.

So what steps do you take?

Step 1 - Get a Grant Address
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Create an address eligible to receive grants - use VanityGen to do this - here's the windows binaries.
https://github.com/downloads/samr7/vanitygen/vanitygen-0.22-win.zip

You want an address that starts MVTEoEo - this is the best type because the grant win will be issued as soon as you win it, and it never expires, so you'll continue accumulating grants
Use the command

oclvanitygen -X 50 MVTEoEo
It'll take a few hours - keep the private key, you'll use that later to claim the coins.

If oclvanitygen doesn't work for you, you can try these commands instead - use whichever seems to give better times
vanitygen64 -X 50 MVTEoEo
vanitygen -X 50 MVTEoEo

Step 2 - Vote to receive Grants
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Vote to receive an award by sending a small amount of satoshi to your new grant award address.
About 5 satoshi is a good amount.

The larger the number of coins at the sending address, the larger your vote. So it's best to either vote from all your wallets, or keep all of your coins in one address.

Wasted Votes
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If you don't make the droop quota, your vote will be wasted. You can avoid this by setting a second preference, you do this by sending a larger amount of Satoshi to another address. I recommend you set your second preference to the MemoryCoin Foundation, which works to further the interests of MemoryCoin. Do that by sending 10 satoshi to MVTEoEoXmYzFydRfg5uNJRewt9tZ329fAN

Also to avoid wasted votes, it's good to have a lot of preferences. Please add these to your preferences so that your vote doesn't go to waste if your top preferences don't make it, or get too many votes.

EFF (I'll hold these in trust for EFF until such a time as it might be worthwhile for EFF to claim them)
MVTEoEoJ1vP6NHHcCTTBPy4bXfejbAqV5N

Amnesty International (I'll hold these in trust for AI until such a time as it might be worthwhile for AI to claim them)
MVTEoEorLyJKdtGFXfFTt3Joevk7PeRvzh

You can set as many preferences as you want, but remember, the smaller the number of coins you send, the higher the preference.

[1714751712]

1714751712

[1714751712]

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[1714751712]

1714751712

[1714751712]

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[1714751712]

1714751712

[FreeTrade]

>How do I create my own "MVTE" address?? I have tried the command line you gave at the first page. It would not work.

Make sure to change directory into the vanitygen directory before running the command.

[FreeTrade]

Latest stats for grants in block 540

Total coin issued: 1514400013680
Total of Voters' Balances: 249399218145
Percentage of total issued coin voting: 16%
Droop Quota: 415.66536358

Add grant award MVTEoEoXmYzFydRfg5uNJRewt9tZ329fAN 2400000000
Add grant award MVTEoEoHoCw1UFpcXTtQZ5inZLuJjuUVcP 2400000000
Add grant award to cumulation MVTE4E154WjgFp7drAbwW8SLszH56r6Zbr 2400000000
Add some Satoshi as indicator of grant vote win MVTE4E154WjgFp7drAbwW8SLszH56r6Zbr
Add grant award MVTEoEorXEH1afrsfQS3LTytM7WfzRdJAn 2400000000
Add grant award MVTEoEo9AA4w2z77pr3SqqKkbFRs5kJFm6 2400000000

If you're helping the coin in some way, let me know your grant award address and I'll add some voting preferences for you.

[r3wt]

i don't think they care about the voting system. this isn't congress. your coin would be cooler without it. i like Memorycoin other than the voting feature.

[smolen]

Some people have worked this out already, so to level the playing field, I'm writing an easy guide on how to do this.

Thank you, such way of reporting problems is very honest.
The idea of community awarded grants is brilliant, but without UI support in wallet an average user will never use it. May be add a page that lists grant addresses which were active recently and add an option to context menu to quickly google it? At least people will be aware about those grant games.

[B.T.Coin]

If you're helping the coin in some way, let me know your grant award address and I'll add some voting preferences for you.

I'm mining the coin, does that count?
Grant address: MVTEoEoHX4XhRkJnkGVLKDYhHG4MbJDVCT

[FreeTrade]

I'm mining the coin, does that count?

No . . . . but you're participating in the voting, and that's helpful, you have my current second preference. If my first preference gets too many votes (or doesn't get enough), the rest will spill over to you.

[B.T.Coin]

I'm mining the coin, does that count?

No . . . . but you're participating in the voting, and that's helpful, you have my current second preference. If my first preference gets too many votes (or doesn't get enough), the rest will spill over to you.

Thanks.
And I didn't know that 'too many votes' would also spill over to the second preference so that's helpful to learn as well.

[FreeTrade]

Transferable voting is a surprisingly complex topic

The voting is modeled on the Gregory Method, More info here.
https://en.wikipedia.org/wiki/Gregory_method#Gregory

[B.T.Coin]

If someone sends some coins to a grant address, will his vote only be for that voting round or will it also count for all future voting rounds ?

[stas]

I have set the MVTE address, sent some satoshi.
I have sent some satoshi to the memoryCoin foundation as well.

How do I set preferences though? where do i set them?

[FreeTrade]

If someone sends some coins to a grant address, will his vote only be for that voting round or will it also count for all future voting rounds ?

All future rounds.

You can change preferences by sending additional coins to address to reduce its preference.

Or to reset all your voting preferences, you can send all your coins to a new address.

[FreeTrade]

I have set the MVTE address, sent some satoshi.
I have sent some satoshi to the memoryCoin foundation as well.

How do I set preferences though? where do i set them?

Whichever you sent the least amount to - that will be your top preference.
Whichever you send the largest amount to - that will be your bottom preference.

[stas]

OK. thanks

[FreeTrade]

If someone sends some coins to a grant address, will his vote only be for that voting round or will it also count for all future voting rounds ?

Also, if it is a vote for a fixed sized grant, say MVTE3E2 - for 300 . . . once that address has won that sized grant, future voting rounds will ignore votes for that address.

[B.T.Coin]

Is there a limit to the number of grants you can support?
Will only the first 2 count or can you support more?

[Xaltotun]

Is this voting part of the minting process or is this some kind of ponzi coin?

[r3wt]

Is this voting part of the minting process or is this some kind of ponzi coin?

no i don't think so really. i think its just a really lame idea. other than that, for some reason instead of replacing bitcoin bits of code, the author wrote in all kind of "if coin = memorycoin {.... statements all through out the source. probably why its so slow. other than these small annoyances, i for one thing this is a really good coin. finally a bit of innovation, even if it came with a wierd voting system. i for one applaud Free Trade for having the guts to try something new.

[FreeTrade]

Is there a limit to the number of grants you can support?
Will only the first 2 count or can you support more?

I think I put in a limit of 20 or something thereabouts - hopefully won't limit anything you'd want to do in practice.

[FreeTrade]

A lot of coin holders are using the grant system to award coins to themselves. That's great, it means people understand the voting system.

However, it may mean coins being concentrated in the hands of a few, and to cut down on this, I'd rather see grants going to projects to benefit MemoryCoin. As we don't have many of those yet, to charity.

If your main grant address doesn't meet the quota, your votes can spill over to these worthy causes. This is better than many coins being concentrated in the hands of a small number of private individuals.

With that in mind, Please add these addresses to your list of voting preferences - by sending 20 or 30 satoshis to each.

EFF (I'll hold these in trust for EFF until such a time as it might be worthwhile for EFF to claim them)
MVTEoEoJ1vP6NHHcCTTBPy4bXfejbAqV5N

Amnesty International (I'll hold these in trust for AI until such a time as it might be worthwhile for AI to claim them)
MVTEoEorLyJKdtGFXfFTt3Joevk7PeRvzh