MemoryCoin 2.0 Voting - How Does It Work?

[FreeTrade]

Moved -

Latest information here
http://memorycoin.org/how-to-vote/



Every 20 Blocks, 1/5 of a block reward is paid to 6 special addresses. These addresses are chosen by voting.

FAQ

How Do I Vote?
Vote for a person by sending 1 Satoshi (0.00000001 MC) to their special voting address.
There are five positions, and one charity - you can vote for a different person for each position.

How Long Does My Vote Stay In Effect For?
It stays in effect until you change your vote

How Do I Change My Vote?
Send 1 Satoshi (0.00000001 MC) to a different voting address for the same position.

Are All Votes Equal?
No - the size of your MemoryCoin balance determines the weight of your vote.

Can I Vote In Order Of Preference?
Yes. Send 1 Satoshi to your top preference, 2 Satoshis to your second preference etc.
Votes are counted using instant run-off voting.

What Does a Voting Address Look Like?
A voting address is a valid MemoryCoin address that starts with the letters MVTEceo, MVTEcno, MVTEcto, MVTEcmo, MVTEcso, MVTEcha. The seven letters at the start determine which position you are voting for - an address that starts with MVTEceo is a vote for the CEO for example.

Can I Spoil My Vote?
Yes, you can vote for an unspendable address - if these addresses win the vote, the rewards are effectively destroyed.

Here are the specially formatted addresses to use.

MVTEceo1111111111111111111111TvNrt
MVTEcha11111111111111111111116GDGs
MVTEcmo1111111111111111111115e9dK3
MVTEcto1111111111111111111119owJby
MVTEcno222222222222222222222B1FB3W
MVTEcso555555555555555555555G6uEbs

Who Should I Vote For?
There is a list of candidates here -
https://bitcointalk.org/index.php?topic=369487.0

Example

1. You want to vote for barwizi as CSO -

How to: Send .00000001 to his special address, MVTEcsoqoc4bVUHgVdxnQx2L53vm5UgXpM

2. You want to vote for belltown as CNO -

How to:  Send .00000001 to his special address, MVTEcnoNKMCJKUsBVVy1xyUiDAhtcJWgWP

3. You change your mind, now you want to vote for montaxx as CSO

How to: Send .00000001 to his special address, MVTEcsoCi2QBXFTsRARm81nXSkaqeAt5wT

4. You don't want anybody to be CMO

How to:  Send .00000001 to the spoiler address, MVTEcmo1111111111111111111115e9dK3

5. You want to vote for barwizi as second preference for CSO

How to: Send .00000002 to his special address, MVTEcsoqoc4bVUHgVdxnQx2L53vm5UgXpM

6. You want to reset all your voting preferences.

How to: Send all your coins to a new wallet.

[1713886107]

1713886107

[1713886107]

1713886107

[ig0tik3d]

maybe somebody wants vote for me MVTEcnoTrUAeYrd3yzXm3nd4S73yACDtMa ))

[FreeTrade]

maybe somebody wants vote for me MVTEcnoTrUAeYrd3yzXm3nd4S73yACDtMa ))

Yes, I'll vote for whoever promises to get some high connection nodes and a block explorer up.

[belltown]

Yes, I'll vote for whoever promises to get some high connection nodes and a block explorer up.

I've set up 3 high performance VPS nodes in each geo region

US: 138.91.140.219
EU: 168.63.28.249
Asia: 137.116.168.89

Vote MVTEcnoNKMCJKUsBVVy1xyUiDAhtcJWgWP

[metraque]

MemoryCoin it's nice, and serious. I'm not sure it's going to the moon in short, but it's going somewhere long-term

[bt2084]

Hahaha! Honestly?

Isn't this called "buying" not "voting" -- as in "buying an election"!

How dumb are people who use memorycoin to be fooled by this?  Most corrupt joke of an election that seems possible.  The only nice thing is that it's told to the users clearly (even though most people still seriously get taken in thinking they are "voting" for something.)

"No - the size of your MemoryCoin balance determines the weight of your vote."

Seriously, please point out that I'm being the idiot here and missing the idea.  Isn't this corruption and deceit outright?  Deceit because someone has the nerve to call a bought-election concept as "voting." When all the small votes are just stolen by the largest buyer.  It's more like a fools pool going to the biggest buyer, right?

A "fair" election is one user per vote.  And that can't be done because the system doesn't have a real ability to determine "one user" as in "one person."  

To get back to something fair you'd have to qualify like the old system of "only land owners got a vote" -- something like each user account at a pool gets to vote. And obviously that wouldn't work either.  No easy answer.

[bt2084]

I should have run on the election promise to share all my election winnings (and whatever else graft I could get) with the top twenty donors.  #uglypolitics

[FreeTrade]

Seriously, please point out that I'm being the idiot here and missing the idea.  Isn't this corruption and deceit outright?  Deceit because someone has the nerve to call a bought-election concept as "voting." When all the small votes are just stolen by the largest buyer.  It's more like a fools pool going to the biggest buyer, right?

Pretty standard for any corporation for shareholders to have votes in proportion to the number of shares owned.

[flmbg]

The voting system is very fair and ereryone who knows it well will absolutely support it.
FreeTrade is the only person who can make memorycoin best in the future.Memorycoin will be nothing without his contribution and leadership.

[matt608]

I've a few questions:

Can a person vote more than once on the same 'issue' from the same wallet?  How often can we vote for a new executive board member?

Is there anything to stop a person voting multiple times by downloading the wallet software onto different computers, or even multiple times onto the same computer (can that be done?).

Can a person vote for themselves by sending coins to their own address?

What powers does the CEO and other positions have?  The CEO is supposed to be in charge, so can the CEO tell the CTO which features to prioritise?  Does the CEO approve the marketing plans of the CMO before they are carried out? Everyone should be reporting to the CEO presumably who then (in this case publicly) evaluates their worth as part of the executive board, and they can then give their feedback publicly on how good a job they think the CEO has done in guiding/leading them.

[itsik78]

I've a few questions:
Can a person vote more than once on the same 'issue' from the same wallet?  How often can we vote for a new executive board member?

You can use the preferences mechanism to vote for, let's say, more than 1 candidate for a certain role (e.g. Freetrade as 1st preference, yourself as 2nd preference).

Is there anything to stop a person voting multiple times by downloading the wallet software onto different computers, or even multiple times onto the same computer (can that be done?).

You can have as many wallets as you want - but that's why the size of the wallet counts and not the number of votes.
There's no other way to support fair voting in a crypto-currency.

Can a person vote for themselves by sending coins to their own address?

Sure, as long as it's a votable address (MVTE prefixed. For example, my CMO address is MVTEcmodH7do4V47ht1U9AXQKMouqYNAYM)

What powers does the CEO and other positions have?  The CEO is supposed to be in charge, so can the CEO tell the CTO which features to prioritise?  Does the CEO approve the marketing plans of the CMO before they are carried out? Everyone should be reporting to the CEO presumably who then (in this case publicly) evaluates their worth as part of the executive board, and they can then give their feedback publicly on how good a job they think the CEO has done in guiding/leading them.

Each officer is elected by the community (shareholders) to perform that role.
So that differs a bit from most real world companies where the CEO approves his deputies.
Therefore, these roles are a bit more independent, but obviously we won't do a very good job if we're not synced with one another, especially with the CEO.
As for job feedback - that's a very nice idea to further utilize the voting system where officers could use it to rate one another. The community already rates the officers by voting for (or against) them.