Bitcoin Forum
December 07, 2021, 10:17:17 AM *
News: Latest Bitcoin Core release: 22.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 [7] 8 »  All
  Print  
Author Topic: [PSA] MemoryCoin 2.0 Dev abandons coin  (Read 8299 times)
x0rcist
Full Member
***
Offline Offline

Activity: 238
Merit: 100



View Profile
January 09, 2014, 03:58:02 PM
 #121

That's the case.
I want that the Coin I follow and support will get an appropriate support.
I want it constantly to be promoted, fixed if needed and so on.
That's why I was interested in this coin from the very beginning.
Is FreeTrade the one to do it?!
I think he is.
Is it a problem that he holds some of MMC, even if it's more then you do?! I don't think so.

There is a big difference in a fair distribution and something fundamentally wrong in the core. Elections have to be fair and how can they be fair if one has absolute power? Better name for this would be SockPuppetCoin. But again think of this; most coins that where first (tenebrix, sif..) with something new have failed. Sooner or later there will be a fair alternative based on MMC. Nuff said..
1638872237
Hero Member
*
Offline Offline

Posts: 1638872237

View Profile Personal Message (Offline)

Ignore
1638872237
Reply with quote  #2

1638872237
Report to moderator
1638872237
Hero Member
*
Offline Offline

Posts: 1638872237

View Profile Personal Message (Offline)

Ignore
1638872237
Reply with quote  #2

1638872237
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1638872237
Hero Member
*
Offline Offline

Posts: 1638872237

View Profile Personal Message (Offline)

Ignore
1638872237
Reply with quote  #2

1638872237
Report to moderator
1638872237
Hero Member
*
Offline Offline

Posts: 1638872237

View Profile Personal Message (Offline)

Ignore
1638872237
Reply with quote  #2

1638872237
Report to moderator
sid280
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
January 09, 2014, 04:03:52 PM
 #122

FreeTrade / MemoryCoin 2.0 is dodgy

Didn't see that coming.......

MisO69
Legendary
*
Offline Offline

Activity: 1946
Merit: 1005


My mule don't like people laughing


View Profile
January 09, 2014, 04:18:39 PM
 #123

The pre-mine (importing of the MC1 coins) was only done to make freetrade rich. There is absolutely no reason whatsoever to import an old abandoned block chain. Unless of course you are holding tens of thousands of coins from that old block chain.. That would really be a very good reason. MC2 is trading at .32 USD. I truly believe that MC2 could have been worth much more if that import never happened.



x0rcist
Full Member
***
Offline Offline

Activity: 238
Merit: 100



View Profile
January 09, 2014, 10:30:28 PM
 #124

This is a interesting read for all that don't believe in the fairness of MMC2 and mistakes Invictus made by hiring FreeTrade.

https://bitcointalk.org/index.php?topic=325425.60
blue_bit
Full Member
***
Offline Offline

Activity: 181
Merit: 100


View Profile
January 10, 2014, 03:27:40 AM
 #125

MW1sZVDE2dscseYotrYCHUAqC3cHQuB59E


thanks
phrozenspite
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250



View Profile WWW
January 10, 2014, 03:05:08 PM
Last edit: January 10, 2014, 10:57:04 PM by phrozenspite
 #126

FreeTrade still dodging the questions I see

Well, I think it should say a lot given how dismissive he was of the effects of the GPU miner(car to bicycle comparison i recall).  But now he's trying to buy the GPU miner and people are complaining because it has most of the hash for the MMC network

sid280
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
January 11, 2014, 04:25:20 AM
 #127

Just to add to the scam

http://memorycoin.info/ is for sale- looks like the dev team (belltown in particular) is looking to capitalize on *anything* they can get their hands on.

Quote
I'd like to sell www.MemoryCoin.info to somebody who cares about the coin and who will continue the work that I've started. It could be the perfect fit for somebody who runs as CMO, but it's not a requirement for you to run for CMO. You just need to act for the benefit of the coin.

Price: 1,000 MMC

https://bitsharestalk.org/index.php?topic=2123.0

SO - The devs want YOU to pay for the domain, and, you must say good things about MMC on there.....

When will this coin die!
mudshark79
Newbie
*
Offline Offline

Activity: 56
Merit: 0


View Profile
January 11, 2014, 06:09:40 PM
 #128

FreeTrade still dodging the questions I see

Well, I think it should say a lot given how dismissive he was of the effects of the GPU miner(car to bicycle comparison i recall).  But now he's trying to buy the GPU miner and people are complaining because it has most of the hash for the MMC network

It's not the most, it's nearly the complete... or am i misinterpreting the numbers at the 1gh.com site?
seraphim_bts
Newbie
*
Offline Offline

Activity: 57
Merit: 0


View Profile
January 11, 2014, 07:27:59 PM
 #129

Just to add to the scam

http://memorycoin.info/ is for sale- looks like the dev team (belltown in particular) is looking to capitalize on *anything* they can get their hands on.

Quote
I'd like to sell www.MemoryCoin.info to somebody who cares about the coin and who will continue the work that I've started. It could be the perfect fit for somebody who runs as CMO, but it's not a requirement for you to run for CMO. You just need to act for the benefit of the coin.

Price: 1,000 MMC

https://bitsharestalk.org/index.php?topic=2123.0

SO - The devs want YOU to pay for the domain, and, you must say good things about MMC on there.....

When will this coin die!

belltown is not a dev, he was elected cmo for a while. he lost that position because he wasn't working hard enough, and a new cmo has already been elected since then.
i agree that it's not a fine move to sell that domain now, but that's nothing anyone on the team including freetrade could do anything about.


regarding the premine issue:
dec 26th someone compromised several positions by voting for himself with a huge balance:
https://bitsharestalk.org/index.php?topic=1635.0
if it wasn't for freetrade using his coins to vote for real candidates, these grants would have been lost to that person.

a few clicks on the block- and voting explorers show, that the same funds used to try to compromise the positions were used to support newmine's campaign, and by the amount and how things here evolved it's easy to see this has been megafarmer.
https://bitsharestalk.org/index.php?topic=2236.0

my speculation about the connection between newmine and megafarmer was stupid, you can easily read up that megafarmer joined newmine's campaign here.

nevertheless it remains undisputed that the coins ft granted himself for the start were used to prevent a big holder from manipulating the elections and stealing the rewards in a critical phase.
sid280
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
January 12, 2014, 03:53:45 AM
 #130

Just to add to the scam

http://memorycoin.info/ is for sale- looks like the dev team (belltown in particular) is looking to capitalize on *anything* they can get their hands on.

Quote
I'd like to sell www.MemoryCoin.info to somebody who cares about the coin and who will continue the work that I've started. It could be the perfect fit for somebody who runs as CMO, but it's not a requirement for you to run for CMO. You just need to act for the benefit of the coin.

Price: 1,000 MMC

https://bitsharestalk.org/index.php?topic=2123.0

SO - The devs want YOU to pay for the domain, and, you must say good things about MMC on there.....

When will this coin die!

belltown is not a dev, he was elected cmo for a while. he lost that position because he wasn't working hard enough, and a new cmo has already been elected since then.
i agree that it's not a fine move to sell that domain now, but that's nothing anyone on the team including freetrade could do anything about.


regarding the premine issue:
dec 26th someone compromised several positions by voting for himself with a huge balance:
https://bitsharestalk.org/index.php?topic=1635.0
if it wasn't for freetrade using his coins to vote for real candidates, these grants would have been lost to that person.

a few clicks on the block- and voting explorers show, that the same funds used to try to compromise the positions were used to support newmine's campaign, and by the amount and how things here evolved it's easy to see this has been megafarmer.
https://bitsharestalk.org/index.php?topic=2236.0

my speculation about the connection between newmine and megafarmer was stupid, you can easily read up that megafarmer joined newmine's campaign here.

nevertheless it remains undisputed that the coins ft granted himself for the start were used to prevent a big holder from manipulating the elections and stealing the rewards in a critical phase.

I couldn't really care about Newmine, I care about FreeTrade's attitude because he marketed the coin on here - and mislead the public with false information, and he's censored my comments in other places just because he refuses to answer questions.

Your response makes basically NO sense at all - you are trying to act like a corporation however you refuse to follow the rules of a corporation, one of the major rules with a corporation is disclosure of information - ie: to tell share holders about the CEO's financial holdings in the company. MemoryCoin has refused to do that and blatantly mislead consumers with things like "CPU Only Coin" and not releasing the source code, and FreeTrade is part of the deception.

How many coins does FreeTrade hold?

and

Is he likely to quit MMC like he did with PTS?
 
stas
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250



View Profile
January 12, 2014, 04:41:25 AM
 #131

Just to add to the scam

http://memorycoin.info/ is for sale- looks like the dev team (belltown in particular) is looking to capitalize on *anything* they can get their hands on.

Quote
I'd like to sell www.MemoryCoin.info to somebody who cares about the coin and who will continue the work that I've started. It could be the perfect fit for somebody who runs as CMO, but it's not a requirement for you to run for CMO. You just need to act for the benefit of the coin.

Price: 1,000 MMC

https://bitsharestalk.org/index.php?topic=2123.0

SO - The devs want YOU to pay for the domain, and, you must say good things about MMC on there.....

When will this coin die!

belltown is not a dev, he was elected cmo for a while. he lost that position because he wasn't working hard enough, and a new cmo has already been elected since then.
i agree that it's not a fine move to sell that domain now, but that's nothing anyone on the team including freetrade could do anything about.


regarding the premine issue:
dec 26th someone compromised several positions by voting for himself with a huge balance:
https://bitsharestalk.org/index.php?topic=1635.0
if it wasn't for freetrade using his coins to vote for real candidates, these grants would have been lost to that person.

a few clicks on the block- and voting explorers show, that the same funds used to try to compromise the positions were used to support newmine's campaign, and by the amount and how things here evolved it's easy to see this has been megafarmer.
https://bitsharestalk.org/index.php?topic=2236.0

my speculation about the connection between newmine and megafarmer was stupid, you can easily read up that megafarmer joined newmine's campaign here.

nevertheless it remains undisputed that the coins ft granted himself for the start were used to prevent a big holder from manipulating the elections and stealing the rewards in a critical phase.

I couldn't really care about Newmine, I care about FreeTrade's attitude because he marketed the coin on here - and mislead the public with false information, and he's censored my comments in other places just because he refuses to answer questions.

Your response makes basically NO sense at all - you are trying to act like a corporation however you refuse to follow the rules of a corporation, one of the major rules with a corporation is disclosure of information - ie: to tell share holders about the CEO's financial holdings in the company. MemoryCoin has refused to do that and blatantly mislead consumers with things like "CPU Only Coin" and not releasing the source code, and FreeTrade is part of the deception.

How many coins does FreeTrade hold?

and

Is he likely to quit MMC like he did with PTS?
 


He never quit PTS. He was hired by PTS owners to do some coding.
His work was done he has moved on.
You would better do your research+thinking before accusing someone.

sid280
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
January 12, 2014, 05:57:30 AM
 #132


Is he likely to quit MMC like he did with PTS?
 


He never quit PTS. He was hired by PTS owners to do some coding.
His work was done he has moved on.
You would better do your research+thinking before accusing someone.

Oh sorry I should re-word it

Is he likely to stop supporting MemoryCoin like he did with PTS, then steal the code to make yet another alt-coin - unless the community bows down to his demands?

kweenirang
Newbie
*
Offline Offline

Activity: 18
Merit: 0


View Profile
January 12, 2014, 08:00:37 AM
 #133

if you were freetrade, what would you do?
Newmine
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
January 13, 2014, 01:15:35 AM
Last edit: January 13, 2014, 12:57:27 PM by Newmine
 #134

Here is FreeTrade's hilarious* answers to questions surrounding him, Memorycoin 1 & 2.0 and the pre-mine
https://bitsharestalk.org/index.php?topic=2288.0


Noteworthy:

He gave himself 160,000 MMC. It would have taken a single miner 571 full blocks of 280 coins each to amass the same amount. Anyone want to bust out the probability of that happening?

47,000 coins went to the MCF which FreeTrade controls and used to his vote advantage until he mistakenly realized it.

He notes his pre-mine stake is 1.6%. This is in relation to the entire coins future float.
This is 6.2% of the current float.
This is 20% of the float at block 2.
This all of course is not including the 47,000 coins for MCF which Mr. FreeTrade controls.

You tell me if this comprimised the vote from day 1.


FreeTrade held 2 positions since 2 days into the coins life and voluntarily stepped out of the CTO position after gaining 15,000 coins from that position and has currently raked in 29,000 coins and counting for the CEO position.

It is safe to say FreeTrade has close to 250,000 coins, or 10% of the current float.

Yes I am sure he has earned some of these coins.

Has he earned immunity from the election process?

He also states his 160k is worth only $50k. I am pretty sure this wasn't the case a few weeks ago.

About Bter and the exchange removal; his claim of a trading halt is an attempt to disguise his contempt and killing memorycoin 1 for a noble purpose. This is in the quotes and links in this thread for further examination.



It's all here in this thread, you guys decide.

*opposite of hilarious



Pages: [1]
Author Topic: FreeTrade Interview  (Read 65 times)
 FreeTrade
Moderator
Sr. Member

Posts: 359


FreeTrade Interview
« on: January 12, 2014, 07:21:19 PM »
So 60 Minutes is investigating FreeTrade and the pre-mine scandal - I've got a transcript of the interview with Katie Couric -

Katie: How much MemoryCoin did you pre-mine?
FreeTrade: *laughs* So that's a tough question to start with. I'll answer it, but why don't we come back to it after there's some background?

Katie: Okay. Did you crash MemoryCoin 1?
FreeTrade: That's better. *more laughs*  No. I mean it was in a pretty bad state technically. I wanted to make repairs and the whole idea is that coin can pay for that out of grants or salaries, but the shareholders voted to give those funds to themselves. I guess you could say I lost confidence in the shareholders. They were angry that I didn't continue developing for free and called me a lot of names. All of them not nice names.

Katie: But you told Bter to de-list MemoryCoin?
FreeTrade: No. There's something called a trading halt - that's when something big is about to happen to a stock and trading is stopped to allow people to absorb the news. I told them they should probably suspend trading for a while because there was big news. But I don't get to tell exchanges what to list and de-list. Believe me, I've tried!

Katie: Did you sell any MemoryCoin before that happened?
FreeTrade: Actually I was a buyer of MemoryCoin.

Katie: Why resurrect it now?
I was tired and I took a long holiday and when I got back I saw ProtoShares had very similar parameters to what I was doing with MemoryCoin so I got involved with getting that started. But MemoryCoin was still tugging at me though and a lot of the shareholders I really liked and felt a real responsibility towards, because, you know, some were still voting for me right till the end and asking me to come back and fix the coin.

Katie: So you put them the pre-mine?
Well I had a lot of coins too, but the problem I was trying to solve was how do we keep voting  but stop the short-sighted shareholders from taking the salaries and firing the devs?
And the solution I came up with was to fork all the balances from the old coin, but dilute anyone who wasn't voting, or just voting to share the grants out amongst the winning voters. So the fork rewarded people who were really engaged and trying to make the project work, but still kept balances for everyone.

Katie: What was your stake in the original coin that was forked into the new coin?
I had a 1.6% stake, so I got about 160,000 coins. At the current price, that's under $50,000. Some people will say that is excessive but I've worked very hard at it and that's not really very much for the skills I have and there's a lot of risk of ending up with nothing at all.
I also control something called the Memory Coin Foundation which gives out tips and grants and that got 47,000 coins.  From the earliest days I've explained those are not mine and I'm continuing to give those away to people helping the project.

Katie: With that voting control, didn't you stack the deck?
You hear about these countries where they hold elections and everybody votes for some guy who wants to chop off the heads of all their opponents - they're not ready for it yet. I think the MemoryCoin is a bit like that. There's a process of democratization going on where the pre-mine has less and less of an influence because there are more and more coins out there.   I think we've fended off the big challenge of a minority of voters trying to steal the salaries again, so I'm trying to step further back. If there's another attempt to use the voting system to destroy the coin, I'll step back in if I can, but I won't be using massive voting power to select between two good CTO candidates, or two good CEO candidates for that matter.

Katie: About democratization - can it ever be democratic if big shareholders can easily outvote small shareholders?
That's a pretty standard way to do things for all corporations. If you were going to have a crypto-government you'd probably want to do things differently, but MemoryCoin is more like a corporation and I think that is the best model for weighting votes.

Katie: You said they were trying to destroy the coin. I'm guessing you mean Newmine's plan to distribute funds directly to those who voted for him. Why do you think that would be so bad?
Well my theory is that it is possible to create a positive feedback cycle. I mean improving the coin, you know, through development and promotion should lead to a higher price. That higher price should lead to more funds for development and promotion, which should lead to a higher price. I think its possible to create really huge value if we can create that cycle. But the Newmine plan interrupts the cycle because it stops creating value. That's why it is so detrimental.

Katie: Are you going to try to destroy the coin if they vote you out again?
Of course not, I don't know why people are putting that about. I'd have no incentive to do that, quite the opposite, I'd probably stay and develop even if I wasn't getting one of the salaries. Also, the whole idea of a crypto-currency is that it can't be destroyed like that. Every coin starts out centralized around the original developer, and becomes de-centralized over time. I think we're getting there a lot faster than other coins - even if I was hit by a bus tomorrow, I think the coin would survive because there are other great devs working on it now and being paid to do so.

Katie: FreeTrade, thank you very much.
FreeTrade: My pleasure.
 Logged
Sugar is the new tobacco.
PRINT
Pages: [1]
« previous next »
FreeTrade
Legendary
*
Offline Offline

Activity: 1330
Merit: 1024



View Profile
January 13, 2014, 07:47:24 AM
 #135

https://bitsharestalk.org/index.php?topic=2288.0

HODLCoin ANN - 5% Interest. No Staking Req. Term Deposits 10%. Solo Mining.http://hodlcoin.com/
sid280
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
January 13, 2014, 08:00:26 AM
 #136

Here is FreeTrade's hilarious* answers to questions surrounding him, Memorycoin 1 & 2.0 and the pre-mine.    https://bitsharestalk.org/index.php?topic=2288.0


hownowbrowncow
Sr. Member
****
Offline Offline

Activity: 264
Merit: 250


View Profile
January 13, 2014, 09:04:14 AM
 #137

+1 for FreeTrade

It's really a no brainer to vote for the dev to remain as CEO. If the coin is stagnating 6 months to a year from now, and FreeTrade is nowhere to be found, then yah it's time to look for a new CEO.
Newmine
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
January 13, 2014, 12:40:49 PM
Last edit: January 13, 2014, 01:05:55 PM by Newmine
 #138

+1 for FreeTrade

It's really a no brainer to vote for the dev to remain as CEO. If the coin is stagnating 6 months to a year from now, and FreeTrade is nowhere to be found, then yah it's time to look for a new CEO.

+160,000 for FreeTrade

FTFY

stas
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250



View Profile
January 13, 2014, 12:52:31 PM
 #139

+1 for FreeTrade

Newmine
Full Member
***
Offline Offline

Activity: 224
Merit: 100


View Profile
February 12, 2014, 03:08:23 AM
 #140

https://bitsharestalk.org/index.php?topic=2817.msg35078#msg35078


Memorycoin Dev FreeTrade, is using his pre-mine holdings to vote after declaring he would not do so. This means your vote won't count for shit and whoever FreeTrade wants in office will be office.

So much for the voting aspect of the coin, which now pretty much makes this coin just another worthless shitcoin.


Pages: « 1 2 3 4 5 6 [7] 8 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!