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Author Topic: [ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept  (Read 376119 times)
creditcoin_CRD
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January 22, 2014, 06:12:59 PM
 #1




Total coins: 498999.99996251 (all in circulation)
PMC Distribution

Distribution: PoW
Algorithm: SHA256
Total coins: 498999.99996251
Block Reward: TX Fees Only - Variable Reward
Block Time: 120 Seconds
Trade Confirms: 6 blocks
P2P Port: 9336
RPC Port: 9335

Premine is a proof of concept that will showcase that mining for transaction fees is a sustainable way forward for cryptocurrencies.  
As such, all coins were freely and fairly distributed to anybody who requested some during the 30-day distribution period.

Official Block Explorer
Alternate Block Explorer

Mining Pool w/ PMC payout option

Website
Twitter | Facebook | Freenode IRC (#premine) | Reddit | Youtube | Forum

German - https://bitcointalk.org/index.php?topic=431963.0
Spanish - https://bitcointalk.org/index.php?topic=430394.0
Chinese - https://bitcointalk.org/index.php?topic=441540.0
Italian - https://bitcointalk.org/index.php?topic=471287.0


Exchanges:
Poloniex
CryptoFunds
Coin Swap
C-CEX
AllCrypt
Cryptokk
Europex


Premine 30-Day Market Cap Graph


Faucet:
http://faucet.premineco.in/




Windows
Android OS
MAC (3rd Party - Unofficial)
Linux Binary (3rd Party - Unofficial)
Source
Github
PremineJ (java)
Paper Wallet Generator

   

No Block Source / No Sync
Mining Premine

Sample Config File
Code:
server=1
rpcuser=theusername
rpcpassword=thepassword
rpcport=9335

rpcallowip=127.0.0.1

addnode=node.preminer.com
addnode=node1.premineco.in
addnode=node2.premineco.in




Premine 30-Day Market Cap Graph

Poloniex
CryptoRush
Coin Swap
C-CEX



Alt Outlet - Free Worldwide Shipping.

Crypto Tycoons



Help PMC Get On CoinedUp.com http://www.reddit.com/r/CoinedUp/comments/1xe6ub/please_add_premine_pmc/
Help PMC Get On Cryptsy! https://cryptsy.freshdesk.com/support/discussions/topics/4000000021
Help PMC Get on MintPal (3 votes unregistered-6 votes registered users/every hour) https://www.mintpal.com/voting
http://www.followthecoin.com/3-new-bitcoin-alternatives-watching/
http://bitbillions.net/category/premine-coin/
http://www.ryblog.com/index.php?/archives/7-Did-PMC-Save-Bitcoin-Users-Billions.html
   

Official PMC Forum - http://forum.premineco.in


German
Spanish
Chinese
Italian



Send Students To College With PMC - http://www.crypto4college.info/
Support HALO Trust w/ PMC - http://cryptotycoons.com/portal/index.php?cID=141
SEAN'S OUTPOST PENSACOLA HOMELESS OUTREACH http://seansoutpost.com/donate/


PMC Dice


More Information:

Premine, also known as PMC, is an alternate cryptocurrency that is defying normal convention in its method of mining and distribution. While some coins are mined, or earn you interest, Premine is exclusively redistributed by its users, and block rewards are generated only by network transaction fees.

The word "premine" refers to the terminology of mining before a coin is officially launched. Although the word has had both positive and negative connotations, it simply refers to coins that have been mined before launch. Since all of Premine was mined before launch for distribution, the name symbolizes its unique method of distribution.  Proof of Distribution, if you will. So even though technically all of the coins are “premined”, they are all in the hands of the community.

Premine is setting out to prove that cryptographic currency can continue long after the minting process has ended, making it not only a fascinating glimpse into the future of Bitcoin, but also a viable and stable alternative that thanks to its low total supply of less than 500,000 coins, allows each coin to store a great amount of wealth. This makes PMC an excellent alternative store of money. To say Premine is the future of Bitcoin isn’t far from the truth.

Will Bitcoin be able to survive once the minting of new coins has ended? Nobody knows. PMC started with a market cap of zero. Bitcoin currently has a market cap in excess of $8 Billion USD. Already suffering from volatile pricing, we may discover that Bitcoin might not survive this transition, and that no coin with such a high market cap ever could. In this sense Premine is also future-proof, having avoided this hazardous transition phase altogether.

We have not only side-stepped this potentially hazardous event, we have embraced it and made it the very essence of PMC. No inflation.  Just distribution.

Premine is a SHA-256 coin, just like Bitcoin. When you mine Premine, you are mining the transaction fees generated by all the people who buy, sell and trade it. In this sense, you can only mine PMC as fast as it is bought and sold, making it exceptionally stable. It does not suffer the major flaw of most cryptocurrencies, which is market flooding caused by a large drop in mining difficulty. This inevitably leads to downward pressure on market pricing causing the altcoins you hold to devalue at any given moment. PMC is not based on this model and, therefore cannot flood the market in this manner.

In PMC, The market affects the block rewards, and the block rewards affect the market. The two coexist and always seek to balance one another. PMC is built on this symmetry, and that makes it an exciting investment as well as a powerful means of exchanging goods and services.

All of the coins that ever exist have already been created and have been entirely distributed amongst the community. This distribution has continued ever since on all levels, not just by the developer, but by community members and even the exchanges.

Premine is more than just an experiment. It's a concept that is proving to work.



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January 22, 2014, 06:19:16 PM
 #2

Nice idea. Count me in  Smiley

My website. Collection of cuttings of crypto news world wide. With links to full article. http://virtualcurrenciesnews.com/
And on steemit.com now Smiley
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January 22, 2014, 06:23:12 PM
 #3

Yes, i will  Grin
i´m interested   Grin

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January 22, 2014, 06:25:34 PM
 #4

sounds fair im in.

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Burninj
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January 22, 2014, 06:28:02 PM
 #5

I'm in
candidakefyr
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January 22, 2014, 06:29:05 PM
 #6

Imagine Fairness!  Grin

Baconfatt
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January 22, 2014, 06:30:42 PM
 #7

Hmmm. I'm in!  Cheesy

Donations for the poor: Btc ~ 1CSp4hUQKuKu7MM4stv228VBjFoeEEu2SL Lot ~ M6hwAmzEFxG8pbtN4qxvLiW6JHz4kKzeSa Cryptsy Trade Key ~ c90eb047e1944445141fb7b2
hasar
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January 22, 2014, 06:30:55 PM
 #8

Ok. I'll join. So it will be given away all?

I AM A DNOTES FANS THE COIN ABOVE ALL OTHERS.
creditcoin_CRD
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January 22, 2014, 06:34:07 PM
 #9

Ok. I'll join. So it will be given away all?


all of it

StinkyS4L
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January 22, 2014, 06:38:50 PM
 #10

I'll take a few thousand please

TheMightyX
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January 22, 2014, 06:39:25 PM
 #11

Quote
Because the difficulty doesn't change, the fastest rig, with the lowest latency wins 99% of the time.
Sure, I'll take a few thousand =D
Whats the point of mining for tx fees if you don't ever get the fee?
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January 22, 2014, 06:42:23 PM
 #12

Ok. I'll join. So it will be given away all?


all of it

Do you have any plan for distribution? For instance, how many people should receive the coins and how much they should receive.
creditcoin_CRD
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January 22, 2014, 06:44:51 PM
 #13

Ok. I'll join. So it will be given away all?


all of it

Do you have any plan for distribution? For instance, how many people should receive the coins and how much they should receive.


I'm still working that out. I have a few minor kinks to figure, then we will be ready to roll. I hope to have the wallet in all of your hands by this afternoon. Will fefinately keep you all in the loop. Thanks for the good responses.

creditcoin_CRD
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January 22, 2014, 06:46:13 PM
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Quote
Because the difficulty doesn't change, the fastest rig, with the lowest latency wins 99% of the time.
Sure, I'll take a few thousand =D
Whats the point of mining for tx fees if you don't ever get the fee?

you could most definitely get the fees, it's just going to be a different tactic than what everybody is used to. Also with only 500k total coins even a fraction of a coin may be a good thing some day.

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January 22, 2014, 06:47:37 PM
 #15

I don't like it.
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January 22, 2014, 07:07:51 PM
 #16

I gladly take my part of the 500,000 PMC Cheesy
Freely given to poster, decreasing with the number of pages?

edit: now 88 post, and all coin already given >.>
Hard to do worst, nothing was ready from the start, for a change...
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January 22, 2014, 07:16:26 PM
 #17

I like the idea! Cool
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January 22, 2014, 07:18:49 PM
 #18

It was just a matter of time Wink

My PMC address: 1AzAPBVUzjJvspbbbKGJN8JbR9Y3kJgcXa

PMC - 1AzAPBVUzjJvspbbbKGJN8JbR9Y3kJgcXa
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Love all coins!


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January 22, 2014, 07:22:31 PM
 #19

This could actually be a really valuable experiment.  I don't know that anyone has tested this scenario yet in the wild.  Maybe Quark comes closest, but not really the same.  What happens when mining reaches the end and Tx operation takes over?  Well, now we can find out...  I like it.

Molecule MOL Developer Donation Address:  K3LhXmZeougH7XUr1ppkKd15A53o6iBgmJ
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January 22, 2014, 07:24:53 PM
 #20

I'll take a few thousand.  Grin


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