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

[fenghush]

Both digit and mr bossi submitted keys, but digit was a bit faster. Sending rewards to both anyway.

[subSTRATA]

I need re-captcha private/public api keys for the faucet, I can't be bothered signing up with those snoopy google bastards. If anyone can PM me the api keys I'll send 100 PMC to your address for your troubles.

https://www.google.com/recaptcha/admin/create

What use of a faucet or anything else if almost no one is mining the coin? As far as I can see, block time increased to over 10
minutes, with one block taking almost 30 minutes to be mined. You morons really think people will waste hashpower for 0 coins
and 0 fees? Once you realise who is who and why in a crypotcoin pyramid, only then you might start working on actualy useful
stuff for this altcoin. Someone mentioned earlier to not bother with faucet but send some PMC to all miners by using addresses
of already mined blocks. There is no need for CAPTCHA (can be solved by BOTs) or any similar shits, just stimulate miners. They
are alpha and omega here. No mining means no coins move. All you morons who are hoarding should rethink your stupid actions.

193kycTAf45mS3CBH6b8whgBmhC6d7GfpY

[digit]

Both digit and mr bossi submitted keys, but digit was a bit faster. Sending rewards to both anyway.

thanks i see it incoming now edit: actually it seems to be stuck :O (blocks not being found?)

I like to see hw far this idea can go, I think Tradecoin tried something similar but was forgotten about, it will interesting to see what happens with this coin if it does get acceptance.

1B7YZVbif7DfrTezASi65k9rFV7c1n6jyY

[Nullu]

I need re-captcha private/public api keys for the faucet, I can't be bothered signing up with those snoopy google bastards. If anyone can PM me the api keys I'll send 100 PMC to your address for your troubles.

https://www.google.com/recaptcha/admin/create

What use of a faucet or anything else if almost no one is mining the coin? As far as I can see, block time increased to over 10
minutes, with one block taking almost 30 minutes to be mined. You morons really think people will waste hashpower for 0 coins
and 0 fees? Once you realise who is who and why in a crypotcoin pyramid, only then you might start working on actualy useful
stuff for this altcoin. Someone mentioned earlier to not bother with faucet but send some PMC to all miners by using addresses
of already mined blocks. There is no need for CAPTCHA (can be solved by BOTs) or any similar shits, just stimulate miners. They
are alpha and omega here. No mining means no coins move. All you morons who are hoarding should rethink your stupid actions.

193kycTAf45mS3CBH6b8whgBmhC6d7GfpY

Us "morons" know that the dev is releasing an updated wallet next week which will resolve the TX fee issues, but if you'd read the thread, you'd know that.

Of course, the other hoarders are the real "morons". I would appreciate you differentiate us morons from those morons, as they are morons.

The only issue right now is hoarders. The dev is working hard on development, and as stated yesterday, he isn't posting right now as he's hard at working getting the new wallet ready, and he's being bombarded with messages as it is.

The issues you bring up are valid, and as has been said in the thread, are being addressed. We're all aware of the issues, and they're all going to be resolved.

Edit: 50 PMC coming your way. As a big holder I am trying my best to distribute my coins, but I need easier ways of doing so. A faucet is a good start, but the TX fee issue is indeed an important one to keep transactions and the coin moving forward.

[fenghush]

Stuck on 1 confirmation on my end. Not enough gigahashes ;(

Both digit and mr bossi submitted keys, but digit was a bit faster. Sending rewards to both anyway.

thanks i see it incoming now edit: actually it seems to be stuck :O (blocks not being found?)

I like to see hw far this idea can go, I think Tradecoin tried something similar but was forgotten about, it will interesting to see what happens with this coin if it does get acceptance.

1B7YZVbif7DfrTezASi65k9rFV7c1n6jyY

[Nullu]

I'll put my eruptor back on this now. I can add a gigahash to the network tomorrow.

How can I use my PMC to get more people mining on the network until the new wallet is released? I can hand out bounties, but I don't know a provable way of knowing if miners will stick to mining on the network.

[subSTRATA]

I need re-captcha private/public api keys for the faucet, I can't be bothered signing up with those snoopy google bastards. If anyone can PM me the api keys I'll send 100 PMC to your address for your troubles.

https://www.google.com/recaptcha/admin/create

What use of a faucet or anything else if almost no one is mining the coin? As far as I can see, block time increased to over 10
minutes, with one block taking almost 30 minutes to be mined. You morons really think people will waste hashpower for 0 coins
and 0 fees? Once you realise who is who and why in a crypotcoin pyramid, only then you might start working on actualy useful
stuff for this altcoin. Someone mentioned earlier to not bother with faucet but send some PMC to all miners by using addresses
of already mined blocks. There is no need for CAPTCHA (can be solved by BOTs) or any similar shits, just stimulate miners. They
are alpha and omega here. No mining means no coins move. All you morons who are hoarding should rethink your stupid actions.

193kycTAf45mS3CBH6b8whgBmhC6d7GfpY

Us "morons" know that the dev is releasing an updated wallet next week which will increase the TX fee issues, but if you'd read the thread, you'd know that.

Of course, the other hoarders are the real "morons". I would appreciate you differentiate us morons from those morons, as they are morons.

You can not force anyone to send coins. Enforcing higher default fee makes no difference if one is hoarding. But you are missing
my point here, there is already a problem of almost no one mining! I use 1.65 GHashes and out of 4 last blocks I mined 3 of them!
I have mined the last block at this point in time, got 0.02 PMC from tx fees ohhh let me buy a yacht or something ...



So clearly you already have:

1. A shitload of coins
2. A major issue that can be solved by sending coins to miners (not just me but everyone else who wasted hashpower for nothing).

Your next move is?

And no, do not count on me having hashpower added to PMC all times, I'm regulary switching coins and turn computer off overnight.

[Nullu]

Well, I hate to say it, but maybe the only way to get some movement at this point is if the hoarders do what they do best and dump their coins. Let other people buy them up cheap, and see what happens.

I can't force people to give their coins. You're absolutely right. All I can do is distribute what I have, and hope it has an effect. Right now there are indeed too many hoarders, and perhaps the only way to address that is to let hoarders do what they do best, and dump their coins.

I will personally buy up PMC cheaply and distribute it if I have to. My problem here isn't the coin's design, it's the method of distribution.

I have over 2k coins right now I need to distribute. How on earth can I do that? Manually is impractical at this point.

By the way, the difficulty will re-adjust, so the hashrate issue is temporary until it recalculates.

[yogibaer]

You can not force anyone to send coins. Enforcing higher default fee makes no difference if one is hoarding. But you are missing
my point here, there is already a problem of almost no one mining! I use 1.65 GHashes and out of 4 last blocks I mined 3 of them!
I have mined the last block at this point in time, got 0.02 PMC from tx fees ohhh let me buy a yacht or something ...

Isn't this happening to any coins which have a limited number one day? If everyone stops mining at that point then then even BTC will be dead one day because fees per block will never be as high as coin rewards per block.

[Nullu]

You can not force anyone to send coins. Enforcing higher default fee makes no difference if one is hoarding. But you are missing
my point here, there is already a problem of almost no one mining! I use 1.65 GHashes and out of 4 last blocks I mined 3 of them!
I have mined the last block at this point in time, got 0.02 PMC from tx fees ohhh let me buy a yacht or something ...

Isn't this happening to any coins which have a limited number one day? If everyone stops mining at that point then then even BTC will be dead one day because fees per block will never be as high as coin rewards per block.

Well theoretically, but only if the difficulty was static, which it isn't. Even on my meagre 333mhash/sec eruptor right now, as long as at least 1 person is on the network, eventually the difficulty will readjust and the network will move again. That's really an extreme example, but the difficulty readjust for this coin isn't so high that when it climbs it will get stuck, so that won't happen.

[yogibaer]

I will personally buy up PMC cheaply and distribute it if I have to. My problem here isn't the coin's design, it's the method of distribution.

Yes, if there are enough buyers the dumpers can sell all their coins with high volume without the price dropping extremly and trade volume means lot's of transactions (incl. fees).

[yogibaer]

You can not force anyone to send coins. Enforcing higher default fee makes no difference if one is hoarding. But you are missing
my point here, there is already a problem of almost no one mining! I use 1.65 GHashes and out of 4 last blocks I mined 3 of them!
I have mined the last block at this point in time, got 0.02 PMC from tx fees ohhh let me buy a yacht or something ...

Isn't this happening to any coins which have a limited number one day? If everyone stops mining at that point then then even BTC will be dead one day because fees per block will never be as high as coin rewards per block.

Well theoretically, but only if the difficulty was static, which it isn't. Even on my meagre 333mhash/sec eruptor right now, as long as at least 1 person is on the network, eventually the difficulty will readjust and the network will move again. That's really an extreme example, but the difficulty readjust for this coin isn't so high that when it climbs it will get stuck, so that won't happen.

yes difficulty adjustments have to be fixed so it's possible to keep up the network with a few Mhash/s or Ghash/s ...

[maardein]

Yeah, keeping the network up with those fees is difficult. I am not going to put any serious hashpower to the network, but I don't have block erupters either. So for now just cpu mining with the wallet.

[deodecagone]

there is no way to send an extra PMC to any adress mining a block ?

[fenghush]

Difficulty should re-target sooner for confirmations to be faster or we need a pool.  Waiting for a while now on confirmations to test out the faucet ;(

[Nullu]

These are all issues that can be addressed in the wallet next week.

This coin is in uncharted territory here, but the dev is working hard and I have faith that he will deliver. The best thing to do is to let him know when there's an issue, so we can make this coin work.  

[Legcorner]

t or something ...

111 PMC are coming your way.

Thank you for mining.

[Nullu]

I will also donate to anyone else who supports the network right now. I would need proof that you're on the network and that you've been hashing long enough to help move some blocks, but I am willing to give PMC to those that can point their hashpower at PMC.

Call it compensation for the low block rewards.

I need someone to keep an eye on the network hashrate and report when it increases so we can verify this. My wallet doesn't show the network hashrate, but I know some wallets do.

[yogibaer]

Why would we need a lot miners to mine blocks for transaction fees? Isn't it possible to keep the network alive with some block eruptors when the difficulty is adjusted correctly so there can be a block mined every 60s for example?

When there is only one miner with 1 -2 Gh/s who can keep the network alive this miner will earn all the fees which could be a lot when the number of transactions is high.

When we have 1000 miners with an equal hash power from each miner then the miner reward will be much less because 1000 miners can't find a block at the same time. Some of them will have to wait for a long time until they find a block. And yes I'm sure that would never cover any mining costs.

 

[Legcorner]

I will also donate to anyone else who supports the network right now. I would need proof that you're on the network and that you've been hashing long enough to help move some blocks, but I am willing to give PMC to those that can point their hashpower at PMC.

Call it compensation for the low block rewards.

If there is a save way to do so i will donate more.
A way to support the miners would if we send coins with a high fee between our adresses.
Any other idea?