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

[Nullu]

the second blockchain would have 1M coins. If not fixed after 16000 blocks it would generate other 500000 coins, and again after other 16000 and again, again and again.

I personally vote for the first blockchain, but if fixed also the second is usable

+1 Initial block chain of course, the second chain is just yet another crap and which is probably hoarded by too few people

Hard to hoard a coin that generates 1000 coins per block. 

[creditcoin_CRD]

the second blockchain would have 1M coins. If not fixed after 16000 blocks it would generate other 500000 coins, and again after other 16000 and again, again and again.

I personally vote for the first blockchain, but if fixed also the second is usable

Well, there's teo main ways you can handle the alternate blockchain;

- Let it die
- Let it carry on, and consider the bug a "feature".

Again, I'm not sure who would want to mine or hold a coin long term that decreases in value over time. I did actually once joke about the idea of a coin that would create a massive influx of coins after so many blocks. I created a thread about it a few weeks ago. I think I dubbed it DumpCoin, or something like that.

Sure, if people want "Dumpcoin", they can rebrand the coin and mine it all they want. But it's completely the opposite of what Premine is trying to accomplish, so for it to survive it would need to be rebranded, or possibly re-released.

alternatively we could allow the extra 500k coins and issue the fix for the future so it doesn't happen again next time.

 Personally I don't want to see that happen, but it is a valid option.

[albertdros]

hello guys.

Was an early adapter of this coin. Didn't read everything here but i understand there was a fork and that it is/will be fixed. Are my coins still worth something or?

[Nullu]

the second blockchain would have 1M coins. If not fixed after 16000 blocks it would generate other 500000 coins, and again after other 16000 and again, again and again.

I personally vote for the first blockchain, but if fixed also the second is usable

Well, there's teo main ways you can handle the alternate blockchain;

- Let it die
- Let it carry on, and consider the bug a "feature".

Again, I'm not sure who would want to mine or hold a coin long term that decreases in value over time. I did actually once joke about the idea of a coin that would create a massive influx of coins after so many blocks. I created a thread about it a few weeks ago. I think I dubbed it DumpCoin, or something like that.

Sure, if people want "Dumpcoin", they can rebrand the coin and mine it all they want. But it's completely the opposite of what Premine is trying to accomplish, so for it to survive it would need to be rebranded, or possibly re-released.

alternatively we could allow the extra 500k coins and issue the fix for the future so it doesn't happen again next time.

 Personally I don't want to see that happen, but it is a valid option.

I think doubling the value would be a bad idea, personally. 500k was perfect. Doubling it essentially decreases the value of each coin by half. I'm still in favour of 500,000 coins. It just sounds good. Keeping the borked coins would be a horrible reminder to be honest. It vastly messes up the distribution. I got a crazy amount in the office at work. When I saw them today I had to laugh. It makes my stake almost worthless, which I felt had value when I could distribute it, and give it to others. It also completely changes the concept of tx fee mining. It's not really very fair on those of us that supported Premine from the start and stuck with it.

I'm strongly in favour of sticking with what was intended. 500k coins, forking before the bug, and introducing a small mandatory tx fee. The big draw for me was being an early adopter and being rewarded for that, and also have the ability to reward others and help the coin using my own stake.

Alternatively, you could just start distribution over and make the distribution heaviest on those who actually helped this coin. That solves the hoarding issue once and for all.

[vlight]

I'm strongly in favour of sticking with what was intended. 500k coins, forking before the bug, and introducing a small mandatory tx fee.

This.

[creditcoin_CRD]

Just throwing it out there but is there any chance the recent fork/bug was caused by someone implementing a 51% attack on the network?

As this coin is SHA256 there are many individuals and unknown pools with huge amounts of hash rate that may have switched to Preminecoin and dominated the network for a short while and inserted 6 false blocks in a row somehow?

I'm no expert in this or anything but I can see how this is possible, if premine was forked directly from the bitcoin client there may have been many miners or programmers who have been working on 51% attacks on bitcoin that may have taken the opportunity to test out their attack method on a clonecoin with a very low,  hash rate.

Anyone with more knowledge think this is possible?

Initially I thought this was the case, but it was most definitely a bug. I have located it thanks to a fresh pair of eyes here in the thread. I've patched it up, and am running various tests on an isolated chain I have. I ran into a snag and had to change some more, re-compiling and testing again now.

[brokeminer]

I'm strongly in favour of sticking with what was intended. 500k coins, forking before the bug, and introducing a small mandatory tx fee.

This.

+2

[bungholio]

I'm gonna hop on this bus and say that the original 500k should be all there is.  That was the original intent that got everyone onboard in the first place.  Sorry that you guys got some coins after the problem, but they are worthless no matter what happens.  If things get back to normal I'm going to go on a give-away spree and distribute some of my original stake (such as it is) just to get the coin in more hands. 

[Nullu]

I'm gonna hop on this bus and say that the original 500k should be all there is.  That was the original intent that got everyone onboard in the first place.  Sorry that you guys got some coins after the problem, but they are worthless no matter what happens.  If things get back to normal I'm going to go on a give-away spree and distribute some of my original stake (such as it is) just to get the coin in more hands. 

Yes. Stick with the plan. It was perfect the way it was. Bugs are bugs, and shouldn't suddenly change the course of a coin like this. I was behind the original concept. I still am, and still will be.

[Bigeyeone]

I really like all the new coins I have mined after the bug, but no we can't let this coin inflation stand, we have to stick with the original concept

[kbroadfoot]

Gonna go back to 500,000 coins? ( I hope )

[minime1]

I'm strongly in favour of sticking with what was intended. 500k coins, forking before the bug, and introducing a small mandatory tx fee.

1000% this.

[creditcoin_CRD]

So it is settled then. Go ahead and continue to chime in regarding the subject. At this point I feel comfortable with continuing what I've started patching, It doesn't look like enough people are interested in adding an additional 500k

[Nullu]

The ones that were here first were esentially the investors or stakeholders, and although some left, and some didn't bother to contribute, some of us stayed and worked hard to keep interest going.

I spend 2 days writing code, that was going to be completely re-written. Guess it's just as well it's not needed now, but I still have a lot of ideas I'd like to explore.

I wanted to earn the coins I was given through working for them and helping the community, and that's what kept me here. The coins felt more valuable to me knowing I was earning them, despite not being required to do so.

Effort should be rewarded. If you want instamining, this isn't the coin for you.

[Benezivas]

I'm gonna hop on this bus and say that the original 500k should be all there is.  That was the original intent that got everyone onboard in the first place.  Sorry that you guys got some coins after the problem, but they are worthless no matter what happens.  If things get back to normal I'm going to go on a give-away spree and distribute some of my original stake (such as it is) just to get the coin in more hands. 

Yes. Stick with the plan. It was perfect the way it was. Bugs are bugs, and shouldn't suddenly change the course of a coin like this. I was behind the original concept. I still am, and still will be.

+1, keep the blockchain with 500k coins.

[Nullu]

So it is settled then. Go ahead and continue to chime in regarding the subject. At this point I feel comfortable with continuing what I've started patching, It doesn't look like enough people are interested in adding an additional 500k

Thank you. I hope you understand why. If you kept those coins you'd risk alienating a lot of the people that have been and will continue to support Premine. I think it has enormous potential. I love mining the tx fees too. It's actually fun to mine such a rare coin, and it's a great experiment. 

[TheMightyX]

This is a no-brainer.
We stick with the original plan.

What is the course of action to get some people off the fork and back onto the first chain and what is the status of the bugfix?

[creditcoin_CRD]

So it is settled then. Go ahead and continue to chime in regarding the subject. At this point I feel comfortable with continuing what I've started patching, It doesn't look like enough people are interested in adding an additional 500k

Thank you. I hope you understand why. If you kept those coins you'd risk alienating a lot of the people that have been and will continue to support Premine. I think it has enormous potential. I love mining the tx fees too. It's actually fun to mine such a rare coin, and it's a great experiment. 

TBH - allowing the inflation is not what I want to see. I'm simply giving others the opportunity to voice their opinions. I fully understand your point of view, and agree 100%.

[sakkosekk]

This is a no-brainer.
We stick with the original plan.

What is the course of action to get some people off the fork and back onto the first chain and what is the status of the bugfix?

I agree. People joined the project because of the original plan to begin with.

[Nullu]

So it is settled then. Go ahead and continue to chime in regarding the subject. At this point I feel comfortable with continuing what I've started patching, It doesn't look like enough people are interested in adding an additional 500k

Thank you. I hope you understand why. If you kept those coins you'd risk alienating a lot of the people that have been and will continue to support Premine. I think it has enormous potential. I love mining the tx fees too. It's actually fun to mine such a rare coin, and it's a great experiment. 

TBH - allowing the inflation is not what I want to see. I'm simply giving others the opportunity to voice their opinions. I fully understand your point of view, and agree 100%.

No problem. I can see from your point of view you just want to follow the community's wishes, and I'm glad you're mindful of that.