[ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept

[TheMightyX]

Ask your Dev guy if converting PMC1 to POS is possible... with the added 500,000 coin 'premine' tacked on and the POS interest...

HOWEVER, if it doesn't seem easy or make sense:

I volunteer to accept PMC for destruction and replacement with PMC2 ( i.e. Manager number 2 )

And I nominate Nullu to head up the re-distribution of the other 500,000 ( i.e. Manager number 1 )

And you, TheMightyX, are the new chairman of the PMC2/PMC project....  i.e. Project Manager...

Also, this method does keep PMC, as a coin intact and even more rare and can be handed off to yet another unamed interested party AFTER we are done...


Also PMC people... this is just a Transition Team.... we need many more people involved for all the other stuff... paper Wallets, Exchanges..  Stores.... Innovation... etc... Block explorors etc...


Also PMC ( premine ) becomes PMC+ ( PremiumCoin )

The developer I contacted for this wants to charge a flat fee for the development of a new PoS and the option of a unique wallet. He will not be available for further or more complex developments. For that we would need to find a developer who is willing to work mostly on premine coins. This is going to be a little bit harder because most competent developers don't have the time or resources to dedicate to working pro-bono for a chance at future compensation. This is a dilemma.

I have enough development/coding experience to tell you that it is 100% possible to convert a coin from PoW to PoS. I also have the experience to tell you that it is a much more complex task than taking the newest PoS source code from whichever github, changing the reward specs and name, and releasing it as a new coin.

That's why I mentioned if Nullu can do it then that solves everything. If not you are posing a hypothetical "ideal" solution to our issue.
Obviously if we can modify PMC that would be the best course of action. and if we can do that then we should. But with the state of the coin and the community, putting faith in future profits is a risk for anyone.

When facing a situation like this in basic risk asssessment you are faced with very few "safe" options. The risk-reward ratio of these options are going to be so low that "playing it safe" and "ideally we would do this" plans are tantamount to failure.
For example, in this ideal scenario we would put up a job posting on this forum and maybe elance or whichever other sites. We would accept applications from developers and try to pick the one most suited to the job. This could take anywhere from several days (ya right) to several weeks (more likely). And even then, most likely due to the compensation strategy ("hey we'll give you some coins that might be worth something later on, or they might not, who knows") we are just going to be settling on whichever unemployed programmer has better english skills. Once we get this programmer hes then going to have to go through the process of reworking the code which could take anywhere from a week to a month depending on his knowledge and experience with the bitcoin protocol.

All the while, Poloniex is de-listing us, hashcows can't payout in PMC people will panic, so the price is going to tank even more. once the price drops to 1 satoshi it will be easy for a "whale" to come along and buy several hundred thousand PMC for .1 BTC or so.
Then when and if we do complete the task of recreating PMC and we accept trade-ins of PMC1 to PMC2 we now have a few large whales controlling 5%, 10%, maybe even 20% or more of all the coins and whats worse is we lost many of the original community who sold out because of panic and uncertainty.
Even worse, instead of having a fair distribution, we are then forced to alot a large chunk of PMC2 for this new developer. Instead of relying on bounties and the community, a large portion of the new PMC would be controlled by this developer.

The solution I've proposed isn't ideal, but it gets us somewhere safe very quickly. This developer can have our new coin within days of payment and we can start focusing on community building and marketing. Theres very little "extra" features that a coin needs right off the bat. The extra features can be implemented later or via bounties. I'm confident that we can structure the new coin in a way as to attract fresh blood to our community and add value so that our bounties are actually desirable to competent developers.

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[kbroadfoot]

Poloniex has granted us a reprieve.... He wants progress reports, however...

[maardein]

So, I was away for a day, and lots of activity here That's a good start at least!

I think I agree that PMC does not seem to bee attractive enough to keep mining/trading/using, so it would be better to create or transform PMC to a new PMC+. I don't mind using an entirely new blockchain, since that probably is by far the easiest.

We could do the swap in two ways I think:

- Ask poloniex to take care of the swap. I know Tristan did so at least for Coin2. He converted all old chain coins to new chain coins.
- Use the Androidstoken way. I saw Zackclark replying here a few times. The ADT to ADT2 move was quite nice. You had to send your coins to a specific address, with a comment containing your new chain address. Then you would automatically get new coins on your new address. Zackclark, maybe you could tell us whether this would be an option for PMC too?

What I think is important, whatever way we choose, is that there is a swapover time of at least 2 weeks. There have been coins with 24hour or 48hour swap-overs, which is just ridiculous. However, I don't think a timeframe of multiple months would be a good thing either. Multiple months is a long time in crypto, and there needs to be some certainty. For example, if only half of the current coins is being swapped, we need to know at some point what the total amount of coins in circulation will be, and 6 months is just way too long.

Another way to approach this could be like this:
- 1.000.000 coins created
- In initial phase people can register for new giveaway, but only people who swap over will get coins with some 'interest rate' (25% extra or so?). This would mean that a maximum of 625k coins will be given to 'old' PMC holders.
- After initial phase, a lot of the remaining coins are given away to new stakeholders (who registered during initial phase). There should be a maximum per person, and there should be some left for POS rewards.


So, to conclude, I think a brand new POS chain is the way to go. We still need to work out how to do the swapover however.

[salsacz]

We also need a PMC/PMC+ historian....

I am, don't worry 

[Nullu]

I have no issue with a fork, where you could use your PMC wallet and move over to the new fork, so you both have PMC and the new currency, but any sort of 1 for 1 conversion is just going to lead to a poor conversion rate, and I think it would be detrimental to both coins.

Reward PMC holders and give them a 2 week window to buy PMC for the new coin. Announce which block the fork will occur (two weeks roughly from announcement). Any coins prior to the fork can be copied over to the new coin wallet. Now anyone who owned PMC before the new coin has both currencies. Not only does this lead to an increase in PMC buying, but it's also considerably fairer on those who still strongly believe in PMC.

You could double the amount available for the new coin, so that means 50% of the coin is minable, and the other 50% (or in this case, probably a lot less) will be from PMC conversion.

PMC is a great concept, and it shouldn't be killed off. Rather used a platform, than treated as a carcase that needs to be picked of its remains.

TheMightyX, Nullu is a LONG TIME supporter, who wants to keep PMC intact... so we need to discuss this side of things a little more...
He thinks, perhaps, your PMC held should translate into the new coin... that would require some sort of 'magical' blockchain and address recreation in the new coin...

Otherwise I can't see how to do it... if we don't destroy the PMC for the swap, you can't gaurentee double dipping...

However, this is something that can be set aside while the new coin is created and started up.... after we have the premined addresses up and running on the new coin, we can try and figure out how to map PMC to PMC+..

I do want a window for this, though....  6 months... 1 year... i don't care... but the coins need to separate at some point in the future....

I agree that it would be much simpler if people could just use their wallet files with the new blockchain. It would make the transition much simpler.
But this would require converting PMC1 to PoS which is much more complex than just starting a new PoS blockchain.
We would also have to modify the block reward structure to pay out another large premine which would need to be mined by a manager before the coin is released.
is Nullu willing to do this for us?
I'm all for keeping the PMC1 blockchain intact if we can modify it to be competitive and give us the tools we need to advance.
but if Nullu is not willing or unable to do that... we need to do whats best for the community, not whats best for anyones ego or pride.
That was not an attack on Nullu, I'm just saying we should not shy away from doing what we need to do because we don't want to hurt someones feelings.
Again, I am all for converting PMC1 if possible.

It has nothing to do with feelings, and almost entirely to do with fairness. If PMC has to be re-designed to survive, then I fully embrace that. My point is that those who invested their time and efforts into PMC shouldn't be an afterthought. PMC has built up a strong member community, and I think it would be an insult to them to consider them as an afterthought.

Nobody could really argue that a long-time PMC supporter has more contributive value than someone who joins at the start of the new currency. I'm simply stating the obvious.

[Nullu]

When this first started Nullu even said, whoever has the highest hash is going to get all the tx fees.

I don't remember ever saying any such thing. In fact I have been, and was, strongly of the mind that the beauty of PMC was that throwing more hashpower at PMC didn't necessarily equate to more PMC, due to the nature of tx fee generation and the creation of empty blocks on the blockchain.

[Nullu]

When this first started Nullu even said, whoever has the highest hash is going to get all the tx fees.

I don't remember ever saying any such thing. In fact I have been, and was, strongly of the mind that the beauty of PMC was that throwing more hashpower at PMC didn't necessarily equate to more PMC, due to the nature of tx fee generation and the creation of empty blocks on the blockchain.

That's why I mentioned if Nullu can do it then that solves everything. If not you are posing a hypothetical "ideal" solution to our issue.

No, I'm not able to do this. However, my inability to do something does not negate or devalue my opinions. That's the nature of a forum.

I get the feeling that you somehow feel I am attacking the idea of the changeover. That is not the case. I'm simply mindful that whatever the plan going forward is, we end up with either one or two strong currencies, and not two weak ones.

[kbroadfoot]

A reminder of the donation addresses of TheMightyX:


>>>
Heres the BTC donation address: 1HMq6p6cEzCqVL1HKTMM6nG9bWHkkCEDRK
Remember we only need .5 BTC so please check it before you donate. Anything over .5 BTC I will assume is a donation towards a unique wallet (which is what I would like to do).

I've created a new PMC address as well: 1PTUASfFPU6gWWsQGYmF4wURbTzHSBq3SX
I would prefer donations in BTC because there is not enough buy orders on Poloniex to exchange the PMC to BTC so we can pay the developer.
But I suppose I will match any PMC donated with my own BTC at the current Poloniex rate of 0.0004 because I think that is a good rate.

I'll also start the donations with .05 BTC from myself. we only need 9/10 more people to donate .05 BTC to get started.
>>>

Lets get this done... 0.5 BTC amongst us all is not impossible.... we did it and then some just to get on HashCows...

0.5 BTC gets us the new coin... ( not the PMC to POS conversion )
We need to iron out the details... once the coin is made, we will be sitting on the various premines for swap and giveaways and such.

IF we are having issues with getting the donations, perhaps we could even set aside some coins of PMC+ for the donators... TheMightyX? Want to chime in here? ( Like a mini IPO )

PS:  Anyone who yells 'scammer' we don't need you anyway....

[zackclark70]

A reminder of the donation addresses of TheMightyX:


>>>
Heres the BTC donation address: 1HMq6p6cEzCqVL1HKTMM6nG9bWHkkCEDRK
Remember we only need .5 BTC so please check it before you donate. Anything over .5 BTC I will assume is a donation towards a unique wallet (which is what I would like to do).

I've created a new PMC address as well: 1PTUASfFPU6gWWsQGYmF4wURbTzHSBq3SX
I would prefer donations in BTC because there is not enough buy orders on Poloniex to exchange the PMC to BTC so we can pay the developer.
But I suppose I will match any PMC donated with my own BTC at the current Poloniex rate of 0.0004 because I think that is a good rate.

I'll also start the donations with .05 BTC from myself. we only need 9/10 more people to donate .05 BTC to get started.
>>>

Lets get this done... 0.5 BTC amongst us all is not impossible.... we did it and then some just to get on HashCows...

0.5 BTC gets us the new coin... ( not the PMC to POS conversion )
We need to iron out the details... once the coin is made, we will be sitting on the various premines for swap and giveaways and such.

IF we are having issues with getting the donations, perhaps we could even set aside some coins of PMC+ for the donators... TheMightyX? Want to chime in here? ( Like a mini IPO )

PS:  Anyone who yells 'scammer' we don't need you anyway....

be warned that it takes a lot more than 0.5BTC to get a good coin coded especially if you want POS

[salsacz]

kept on polo, confirmed

[TheMightyX]

When this first started Nullu even said, whoever has the highest hash is going to get all the tx fees.

I don't remember ever saying any such thing. In fact I have been, and was, strongly of the mind that the beauty of PMC was that throwing more hashpower at PMC didn't necessarily equate to more PMC, due to the nature of tx fee generation and the creation of empty blocks on the blockchain.

Sorry Nullu I confused you with the original dev. 

heres where I quoted him on the first page. He has since changed the main post.

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.

[TheMightyX]

When this first started Nullu even said, whoever has the highest hash is going to get all the tx fees.

I don't remember ever saying any such thing. In fact I have been, and was, strongly of the mind that the beauty of PMC was that throwing more hashpower at PMC didn't necessarily equate to more PMC, due to the nature of tx fee generation and the creation of empty blocks on the blockchain.

That's why I mentioned if Nullu can do it then that solves everything. If not you are posing a hypothetical "ideal" solution to our issue.

No, I'm not able to do this. However, my inability to do something does not negate or devalue my opinions. That's the nature of a forum.

I get the feeling that you somehow feel I am attacking the idea of the changeover. That is not the case. I'm simply mindful that whatever the plan going forward is, we end up with either one or two strong currencies, and not two weak ones.

I wasn't trying to devalue your opinions. I just meant to say that they are stupid.

...

KIDDING! 

I do feel you are adverse to this change because of the work and time put into the existing infrastructure of PMC1.
This is why I said that we need to decide to do what is best for the currency itself, and not that which is best for preserving everyones pride.

People put a bunch of work into the block explorer and the paper wallet generator, etc. But should we NOT put out a burning building because it would require trampling the grass and flowers in the front lawn?
There are always sacrifices. Do you know how many times I've spent days or even weeks on something and then a client (or boss) decides "ok were going in a different direction, so lets redo all this"?
This shit happens. It happens all the time. I wish it didn't but it does. Do i get pissed off because I wasted a week working on something that will never make it to the final product? of course! But I suck up my pride because the end result is not about me or my contribution. It's about creating something good.

I just don't see us getting a programmer at this stage who is capable and available to make the changes necessary to preserve much of the existing infrastructure.

[dukeneptun]

A reminder of the donation addresses of TheMightyX:


>>>
Heres the BTC donation address: 1HMq6p6cEzCqVL1HKTMM6nG9bWHkkCEDRK
Remember we only need .5 BTC so please check it before you donate. Anything over .5 BTC I will assume is a donation towards a unique wallet (which is what I would like to do).

I've created a new PMC address as well: 1PTUASfFPU6gWWsQGYmF4wURbTzHSBq3SX
I would prefer donations in BTC because there is not enough buy orders on Poloniex to exchange the PMC to BTC so we can pay the developer.
But I suppose I will match any PMC donated with my own BTC at the current Poloniex rate of 0.0004 because I think that is a good rate.

I'll also start the donations with .05 BTC from myself. we only need 9/10 more people to donate .05 BTC to get started.
>>>

Lets get this done... 0.5 BTC amongst us all is not impossible.... we did it and then some just to get on HashCows...

0.5 BTC gets us the new coin... ( not the PMC to POS conversion )
We need to iron out the details... once the coin is made, we will be sitting on the various premines for swap and giveaways and such.

IF we are having issues with getting the donations, perhaps we could even set aside some coins of PMC+ for the donators... TheMightyX? Want to chime in here? ( Like a mini IPO )

PS:  Anyone who yells 'scammer' we don't need you anyway....

be warned that it takes a lot more than 0.5BTC to get a good coin coded especially if you want POS

 

It isn´t so bad idea. I mean Mini IPO.
For example. We need 50 people into Mini IPO.
Max IPO investment will be 0.01. (better low than higher)(it can bring new people to this community)(and it is not big deal)
Don´t know what reward should be there for 0.01BTC in PMC+.

 
I know that there is donation addess, but donations are not enough strong engine to move forward.

We can use that address, but better for mini IPO.
I could be first.
If you agree about that.  
 

EDIT: I´m bright new in this comunity. But quiet impressed about history of this coin.

[TheMightyX]

A reminder of the donation addresses of TheMightyX:


>>>
Heres the BTC donation address: 1HMq6p6cEzCqVL1HKTMM6nG9bWHkkCEDRK
Remember we only need .5 BTC so please check it before you donate. Anything over .5 BTC I will assume is a donation towards a unique wallet (which is what I would like to do).

I've created a new PMC address as well: 1PTUASfFPU6gWWsQGYmF4wURbTzHSBq3SX
I would prefer donations in BTC because there is not enough buy orders on Poloniex to exchange the PMC to BTC so we can pay the developer.
But I suppose I will match any PMC donated with my own BTC at the current Poloniex rate of 0.0004 because I think that is a good rate.

I'll also start the donations with .05 BTC from myself. we only need 9/10 more people to donate .05 BTC to get started.
>>>

Lets get this done... 0.5 BTC amongst us all is not impossible.... we did it and then some just to get on HashCows...

0.5 BTC gets us the new coin... ( not the PMC to POS conversion )
We need to iron out the details... once the coin is made, we will be sitting on the various premines for swap and giveaways and such.

IF we are having issues with getting the donations, perhaps we could even set aside some coins of PMC+ for the donators... TheMightyX? Want to chime in here? ( Like a mini IPO )

PS:  Anyone who yells 'scammer' we don't need you anyway....

be warned that it takes a lot more than 0.5BTC to get a good coin coded especially if you want POS

Hey Zack, Just wanted to point out that no, it does not take more than .5 to pay someone to take the newest source code of any coin (Cinnicoin? Blackcoin?), modify the specs and compile it. This is the price hes quoted me.
It might cost a little bit more to get a good wallet compiled. But I can handle a lot of the front end GUI so this would reduce the workload on the programmer.

I would love to have a built-in chatroom in the wallet.
I've looked into the script and its actually very simple so I should be able to add that myself.
its just a shortcut to an IRC server and I already know how to implement it.
Again, this has already been done, its just a matter of a few modifications.

[TheMightyX]

It's not so much the issue of leaving PMC behind I question, but how you value the conversion rate from PMC to PMC+, or whatever it'll be called.

Also the method of giveaway has to be different than it was originally. The original giveaway model was flawed, as many just grabbed and sat on their coins. Anyone still with PMC is clearly someone who is more valuable to the new currency than someone who had no faith in the currency and has none, or sold all of their PMC.

My point is, the distribution method has to be fairer, and the rewards to those who worked hard for PMC and still hold PMC should reflect their contributions.  All things being equal, if person A has 500 PMC+ because he converted his PMC, and person B has 500 PMC because he was simply given it, then person A is at a huge disadvantage, so you either give more to person A, or less to person B. Meaning, either the conversion rate is higher, or the giveaway amount of PMC+ is considerably lower per person than in the original giveaway.

I'm also all for a reward-based giveaway system where coins are given to active community members, rather than someone who has no interest in actually investing in the future of the currency whatsoever.

I'm less concerned with shifting to the new currency than I am of the system of exchange and distribution being fair and well thought out.

I'm sorry I didn't reply to this.
I fully agree with you. The "everyone gets X amount of coins" is a flawed model, for many reasons.
Primarily it sets a max cap on how many people can participate.

I've come up with a better solution that I've shared with KBroadfoot but I'd like to go over with you as well.
Maybe we could have a group chat on IRC or something.
It's not something we want to be telling the public about until it is hammered out.
I will say that I think it will not only award an appreciated amount of PMC2 to PMC1 holders/supporters but it will also increase demand and growth in the future.
KBroadfoot is available in the evenings EST time I believe. I'm free whenever.

[TheMightyX]

A reminder of the donation addresses of TheMightyX:


>>>
Heres the BTC donation address: 1HMq6p6cEzCqVL1HKTMM6nG9bWHkkCEDRK
Remember we only need .5 BTC so please check it before you donate. Anything over .5 BTC I will assume is a donation towards a unique wallet (which is what I would like to do).

I've created a new PMC address as well: 1PTUASfFPU6gWWsQGYmF4wURbTzHSBq3SX
I would prefer donations in BTC because there is not enough buy orders on Poloniex to exchange the PMC to BTC so we can pay the developer.
But I suppose I will match any PMC donated with my own BTC at the current Poloniex rate of 0.0004 because I think that is a good rate.

I'll also start the donations with .05 BTC from myself. we only need 9/10 more people to donate .05 BTC to get started.
>>>

Lets get this done... 0.5 BTC amongst us all is not impossible.... we did it and then some just to get on HashCows...

0.5 BTC gets us the new coin... ( not the PMC to POS conversion )
We need to iron out the details... once the coin is made, we will be sitting on the various premines for swap and giveaways and such.

IF we are having issues with getting the donations, perhaps we could even set aside some coins of PMC+ for the donators... TheMightyX? Want to chime in here? ( Like a mini IPO )

PS:  Anyone who yells 'scammer' we don't need you anyway....

be warned that it takes a lot more than 0.5BTC to get a good coin coded especially if you want POS

 

It isn´t so bad idea. I mean Mini IPO.
For example. We need 50 people into Mini IPO.
Max IPO investment will be 0.01. (better low than higher)(it can bring new people to this community)(and it is not big deal)
Don´t know what reward should be there for 0.01BTC in PMC+.

 
I know that there is donation addess, but donations are not enough strong engine to move forward.

We can use that address, but better for mini IPO.
I could be first.
If you agree about that.  
 

EDIT: I´m bright new in this comunity. But quiet impressed about history of this coin.

I think most people in this community will not like having an IPO.
The beauty of premine was everyone could take part and it costed them nothing.
We don't need a large amount of money to move forward, and if we stay true to our name and plan out a premine with bounty funds we can use them until we can find a dedicated programmer to step in.

[mirador17]

Why free giveaway and not distributed for bounties like NHZ. People getting coins for doing something like blogpromotion, translating, facebook,twitter etc.

[getmining.info]

Hi All,

Here are my thoughts on the matter. Would welcome an opportunity to discuss further in an IRC meet.

This is what I had to say earlier.

PMC was the first alt that was unique to Polo   My, how it has grown since then. Shame about PMC, I feel it inspired a lot of PoS coins but got lost along the way. I guess that by the time BTC mining is exhausted something else will have taken over, probably something secured with PoS, or the transactions fees alone would be worth mining (indicating high real life usage, i.e. BTC) - Nice experiment and idea, it was fun to watch.

There are a few things that I think should be considered.

Activity in and around PMC stopped. This is why it was delisted. No-one posted in the thread, no-one was trading it, the community fizzled away. This is an important and irrefutable fact.

Any 'revival' of PMC should be 'as new' - What I mean by this is that it should stay true to the original intentions of the coin. Those original intentions were an experiment to try to expose what would happen to BTC once it had all been mined.

It is important to note now that PMC was traded, people did make profit and people did make a lose. It can be strongly suggested that people who currently hold PMC either did not actively encourage it's use or take part in the community or bought it very cheap over the past several months (since the crash) in the hopes that they would make a profit at some point, a gamble.

Therefor, I very strongly suggest that very careful consideration should be given to any PMC revival that is slanted to the benefit of existing holders. There is no good reason to reward current holders of PMC in any greater way than new investors which may enter into the revival.

It is very easy to see and the suggest that a revival is to benefit existing holders that invested and/or are hurt that their PMC is worthless.

I believe the best way to proceed is to attempt a revival of the 'experiment'.

This could either be done with a hardfork of the current chain or, my preference, a new experiment should be started but with absolutely no exchange of existing PMC to the revival. It should be a completely new and fresh, clean experiment.

Absolutely no IPO, ever.

All that being said, I do have PMC - But that is my fault and I understand that.

Please PM me a date/time if there is to be an IRC meetup (as I will receive an email alert and will then know to jump in)

[TheMightyX]

A reminder of the donation addresses of TheMightyX:


>>>
Heres the BTC donation address: 1HMq6p6cEzCqVL1HKTMM6nG9bWHkkCEDRK
Remember we only need .5 BTC so please check it before you donate. Anything over .5 BTC I will assume is a donation towards a unique wallet (which is what I would like to do).

I've created a new PMC address as well: 1PTUASfFPU6gWWsQGYmF4wURbTzHSBq3SX
I would prefer donations in BTC because there is not enough buy orders on Poloniex to exchange the PMC to BTC so we can pay the developer.
But I suppose I will match any PMC donated with my own BTC at the current Poloniex rate of 0.0004 because I think that is a good rate.

I'll also start the donations with .05 BTC from myself. we only need 9/10 more people to donate .05 BTC to get started.
>>>

Lets get this done... 0.5 BTC amongst us all is not impossible.... we did it and then some just to get on HashCows...

0.5 BTC gets us the new coin... ( not the PMC to POS conversion )
We need to iron out the details... once the coin is made, we will be sitting on the various premines for swap and giveaways and such.

IF we are having issues with getting the donations, perhaps we could even set aside some coins of PMC+ for the donators... TheMightyX? Want to chime in here? ( Like a mini IPO )

PS:  Anyone who yells 'scammer' we don't need you anyway....

I think that we have enough history and standing with the community to not be accused of trying to scam a whole .5 BTC (talk about a vacation!).

At first thought I don't like the idea of rewarding donations, because then its basically an IPO for the new coin.
At second thought most people would be less likely to help out if theres nothing in it for them.
What those people need to understand is that if they hold any amount of PMC1 its in their best interests to get this done.
I've put .05 BTC in, which is roughly $27 at the current price. Ya I know, whoopty friggin do.
PMC1 holders will already have more stake in PMC2 so rewarding them more will seem unfair to new members. New members also won't care that someone put up .02 btc. To them it will be a new coin and so everyone should get the same reward. It's not their fault someone had to invest BTC to start the coin.

For the .5 BTC the developer will compile our coin from any source code, with our specifications for name, max height, staking interest, etc.
Also included is hosting for 1 node (necessary) and technical support if something goes wrong later on (only tech support, not additional development).

Once we have a new platform PMC can innovate structurally, instead of technically.

[TheMightyX]

Why free giveaway and not distributed for bounties like NHZ. People getting coins for doing something like blogpromotion, translating, facebook,twitter etc.

not everyone can do something.
How many people does it really take to translate into other languages? 10?
then developers making services, maybe another 10, and then some people making blog posts. maybe 50-100.
This is a tiring way of getting support. It's fake, and doesn't reach as wide an audience.
And again, this would mean making set amounts of PMC for certain actions. This places a limit on the number of people who can participate.

if we say posting on your blog is worth 500 PMC and tweeting about it is worth 100 PMC We are then saying, only a max of 1000 people can post about it or tweet about it.

This also means arbitrarily setting a value for the coin. If we give it away to everyone we can make sure to reach the widest audience and not any one person gets too much PMC.