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

[Warning__3]

That awkward moment when you realize premine is one of the most "green" coin, because it doesn't get or need as much proof of work as the rest

[blueangel01]

Giveaway is over....

[Triax]

That awkward moment when you realize premine is one of the most "green" coin, because it doesn't get or need as much proof of work as the rest

Why did I suddenly think of the rock driving meme?

[Nullu]

Is Freshmarket going to relist PMC at some point? Anyone talked to the owner? Or are we waiting until the next wallet update?

[creditcoin_CRD]

Is Freshmarket going to relist PMC at some point? Anyone talked to the owner? Or are we waiting until the next wallet update?

He was having an accounting issue last time I checked.

[Pasco60]

Got a little problem can't start the new wallet (Windows .
Saved blockstats, chain and the wallet.dat, deleted everything else.

When I want to start premine-qt.exe (0.88) i get 2 errors "can't bind to 0.0.0.0:9336, maybe premine was already started" and "no port was found, if this is okay use listen=0" (getting german errors but I might got the point)

Can anyone help?

problem found had another wallet running closed it now premine is running 

[The Grinder]

Vote here to add Premine Coin to rapidballs.eu lottery site:

https://bitcointalk.org/index.php?topic=443423.0

+1

RT - It helps!

https://twitter.com/premine_PMC/statuses/429689189177626625

Sry I'm no twitter user but I will gladly bump the issue in this thread. 

[blueangel01]

the difficulty is high;


20:13:31

{
"blocks" : 19474,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 754.61419094,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"pooledtx" : 12,
"testnet" : false
}

is there a lot of people mining this?

[creditcoin_CRD]

the difficulty is high;


20:13:31

{
"blocks" : 19474,
"currentblocksize" : 0,
"currentblocktx" : 0,
"difficulty" : 754.61419094,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"pooledtx" : 12,
"testnet" : false
}

is there a lot of people mining this?

19479        2014-02-02 01:20:37   7   1482.24624   754.625   498999.99996251   6.66912   10.8904   34.7072%
19478   2014-02-02 01:19:42   9   6523.135472   754.625   498999.99996251   6.6685   10.8898   34.7093%
19477   2014-02-02 01:18:32   12   4597.232912   754.625   498999.99996251   6.66779   10.889   34.711%
19476   2014-02-02 01:14:40   4   1993.86494   754.625   498999.99996251   6.66513   10.8863   34.7199%
19475   2014-02-02 01:13:47   11   3563.025187   754.625   498999.99996251   6.66453   10.8857   34.7218%
19474   2014-02-02 01:10:47   13   2300.09557085   754.625   498999.99996251   6.67115   10.8836   34.6437%
19473   2014-02-02 01:08:07   39   14186.040471   754.625   498999.99996251   6.66986   10.8817   34.6444%
19472   2014-02-02 00:54:33   7   1453.17504   754.625   498999.99996251   6.66084   10.8723   34.6725%



we are well within target time, so at this rate we will see an increase in difficulty.

[Nullu]

So those are the sort of block sizes we should expect to see from now on? How much hashpower is there on the network?

[blueangel01]

So those are the sort of block sizes we should expect to see from now on? How much hashpower is there on the network?

I am wondering about the same thing

[carlomagno]

Go to faucet
http://faucet.premineco.in/faucet

[_CR_]

what about atomic-trade adding pmc?

[Bergmannx]

Any chance to set a proportionate txfee like 0.5% instead of a static fee in the new wallet?
A static fee would make the coin unusable for smaller transactions.

[Burninj]

Any chance to set a proportionate txfee like 0.5% instead of a static fee in the new wallet?
A static fee would make the coin unusable for smaller transactions.

maybe not a static proportional... This parameter will be the hardest to set for premine to live...

[deodecagone]

should consider the difficulty , I am not sure the amount will have to be considered as the diifuclty will be correlated to the average transaction amount

edit : the more itnerest there is, the more difficult it wil be , and the avg transaction amount will lower

[Nullu]

I mused over the idea over a proportional tx fee, but it is wrought with problems.

If the tx fee was variable by difficulty, and the difficulty became low, it would increase the tx fee and less people would move their coins, decreasing the total amount available to miners for mining. You would potentially end up in a spiral where continued low difficulty and high tx fees would feed off one another, causing less movement, less tx fee generation, until the coin stagnated. Very bad idea.

You could make the tx fee variable based on the amount of coins you hold, but it would have to be a much smaller percentage. The beauty of that would be, you wouldn't benefit from sending coins to yourself, because you'll always be paying the same tx fee based on what you have in your wallet, regardless of how few or many you have - it will just be relative to your total balance. You couldn't cheat your way out of that. Infact trying to do so would cost you more in tx fees as you moved your coins around. This also means higher stake holders would have to pay their fair share if they wanted to move a lot of coins.

If you can make the tx fee based on the coins you hold in a particular account, then that would make it manageable for coin movers who like to keep accounting records and so on.

[Benezivas]

I got myself some neatly cheap PMC over night, thank you, dumpers

My thoughts about the TX fees: I am not of the opinion that a proportional fee is actually needed, and that a low base fee will suffice, if there isn't a huge influx in value in a short period of time. To challenge this scenario, here is a pseudo-proportional idea:

Link the tx fee to the time that these coins were moved last (Bitcoin days destroyed, I have yet to read into that topic), so that the longer you wait to move your coins, the higher the tx fee will become (I am thinking of a base fee of maybe 0.001% that has a cap of 0.01% if, say, you kept your coins resting in your wallet for a year or so. If we choose the base tx and cap wisely, we could encourage the money flow in the network, which would also be supported by holders sending their stake to themselves in order to avoid big fees.

[Nullu]

It's an interesting idea, but it would be difficult to work out the tx you pay and would dissuade movement of coin investors. A percentage based on what you hold will be fair for everyone.

[yogibaer]

It's an interesting idea, but it would be difficult to work out the tx you pay and would dissuade movement of coin investors. A percentage based on what you hold will be fair for everyone.

That means for example someone holds 1000 PMC and the TX fee for any transacation will be calculated on this amount? Well when this someone makes a lot of small transaction he pays a lot of fees, when he makes a single big transaction the fees are much less of course. Fees should be only calculated on the amount which is transferred with a min. and max. tx fee.