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

[forzendiablo]

PMC shoudl get to cryptsy imo. lets do the vote

[carlomagno]

PMC shoudl get to cryptsy imo. lets do the vote

 

[elrapido80]

PMC should get to cryptsy imo. lets do the vote

Skip to 31:30

https://plus.google.com/u/0/events/cac03kgcpb435pk5oopgej3ttcg

[GröBkAz]

PMC should get to cryptsy imo. lets do the vote

Skip to 31:30

https://plus.google.com/u/0/events/cac03kgcpb435pk5oopgej3ttcg

What did you mean with this comment?

[elrapido80]

PMC should get to cryptsy imo. lets do the vote

Skip to 31:30

https://plus.google.com/u/0/events/cac03kgcpb435pk5oopgej3ttcg

What did you mean with this comment?

It's BitJohn indicating that Cryptsy finds Premine interesting.

[Acidyo]

So how has OP decided to share the premined coins with the community?

hes handed 100% of them out to hundreds of people

Oh, okay, I was here on this thread since the start and I have received nada.

Here is my address in case someone of the people who received most of the coins could start spreading them instead of hoarding.

1HU9nAcZDUjuwyHVz49xc2mtkX91PTT9Zc

[Nullu]

PMC should get to cryptsy imo. lets do the vote

Skip to 31:30

https://plus.google.com/u/0/events/cac03kgcpb435pk5oopgej3ttcg

What did you mean with this comment?

It's BitJohn indicating that Cryptsy finds Premine interesting.

I thought that's what he said. I like the "there may be a pool" line. Exciting news in the world of Premine.  

Block Rewarder has been topped up again. Payout rate has been slowed down to min 30 seconds to allow for an approx rate of 100 PMC in block bonuses a day.

I think Benezivas makes some fantastic points. Not just about Premine, but what is at the core of every Cryptocurrency; our concept of value. In most coins this comes from mining, and while this still can be the case with Premine, the mining rewards are inherently linked to the movement of the coin. I believe it is this link which, when the coin does gain more exchange volume, will create a system that feeds on itself. Miners get more rewards, so move more coins, more coin movement will mean more miner rewards, and so on.

As all the coins have been minted you can't put a cost on that minting process in same way like with other coins. The cost is in re-obtaining Premine, or recovering it from the network. As that is linked so directly to coin activity, then any idea of coin value is likely to come out of that process, as that is how Premine is essentially distributed at its core.

I think the biggest advantage to Premine is this link. There's no potential huge influx in coins on the network due to a drop in a difficulty, something that plagues Cryptocurrencies. This I believe is one strength that hasn't been highlighted enough. The amount you mine is linked to the amount of transactions per block, as well as the difficulty. That makes for a very different type of coin.

The only way there would be a huge influx is if there is huge activity, and the two essentially balance each other out, because if there is more activity, there would likely be a better price on the exchanges, and so more miners to distribute the tx fees to.

[wenwen]

This coin walk in front of all the coins,so should attract more and more people,in preminecoin I believe!!

[wenwen]

2014-02-05 10:09:31   Buy   0.000114   2563.33   0.29221962
2014-02-05 10:09:30   Buy   0.00011   25   0.00275
2014-02-05 10:09:30   Buy   0.000109   1.69   0.00018421
2014-02-05 10:09:30   Buy   0.000108   9.98   0.00107784

at poloniex,max only 500,000,so 10x will come true.

[shanent]

If Premine were valued equal to Bitcoin:

500,000 VS 21,000,000 coins

1 Premine = 42 BTC
10 Premine = 420 BTC
50 Premine = 2100 BTC
100 Premine = 4200 BTC
1000 Premine = 42000 BTC

If 1 BTC = $927

1 Premine = $38,934
5 Premine = $194,670
10 Premine = $389,340
100 Premine = $3,893,400
1000 Premine = $38,934,000

Percentage of total coins

50 = 0.01%
500 = 0.1%
5000 = 1%
50000 = 10%
500000 = 100%

In an alternate reality where everyone was using Premine as well as BTC. I wanted to use a relative example to show how a coin with a low total number could potentially be valued. This is purely theoretical. Numbers based on Premine being 500,000, but it's actually a bit less than that. Closer to 499,000. Not an example to in any way hype up the coin. Just as a relative example. If Premine had the exact market cap of BTC, then 1 Premine is, for all intents as purposes, equal to 42 BTC.

1 BTC would then be equal to 0.047 PMC. Or there abouts.

This a theory, ok, but a BTC market cap is unthinkable(for now).

If we look at market cap of coins more comparable I think that RPC or eTok would be right.

In this moment RPC have a market cap of $ 173,715 with 20,327 RPC out and a value of $8.55. When all the 2,100,000 coins out, with current price, hypothetical market cap would be about 19 million USD.
This hypotetical market cap isn't far from reality if we think that a comparable market cap now is the same for coins like quark,protoshares...

On the other hand eTok have a smaller market cap with $ 103,597 with 240,034 ETOK(but for me are less) out and a value of about $0.40. When all 800,000 coins out, hyp. market cap of 320,000 USD that is pretty low instead of a limited amount of coins.

RPC and eTok are on two different side but if PMC would be beetween them, then we think that a value of $3-$4 isn't too difficult to reach(market cap beetween 1,5-2 millions USD)

But we don't have any term of comparison with these because PMC are already all out and for me a pool would be nice. Many coins' value depends on the difficulty to mine and not only on the scarcity.
Set up a pool could be a great way to understand how much is difficult to mine this coin and the value is going to skyrocket.

[Nullu]

If Premine were valued equal to Bitcoin:

500,000 VS 21,000,000 coins

1 Premine = 42 BTC
10 Premine = 420 BTC
50 Premine = 2100 BTC
100 Premine = 4200 BTC
1000 Premine = 42000 BTC

If 1 BTC = $927

1 Premine = $38,934
5 Premine = $194,670
10 Premine = $389,340
100 Premine = $3,893,400
1000 Premine = $38,934,000

Percentage of total coins

50 = 0.01%
500 = 0.1%
5000 = 1%
50000 = 10%
500000 = 100%

In an alternate reality where everyone was using Premine as well as BTC. I wanted to use a relative example to show how a coin with a low total number could potentially be valued. This is purely theoretical. Numbers based on Premine being 500,000, but it's actually a bit less than that. Closer to 499,000. Not an example to in any way hype up the coin. Just as a relative example. If Premine had the exact market cap of BTC, then 1 Premine is, for all intents as purposes, equal to 42 BTC.

1 BTC would then be equal to 0.047 PMC. Or there abouts.

This a theory, ok, but a BTC market cap is unthinkable(for now).

If we look at market cap of coins more comparable I think that RPC or eTok would be right.

In this moment RPC have a market cap of $ 173,715 with 20,327 RPC out and a value of $8.55. When all the 2,100,000 coins out, with current price, hypothetical market cap would be about 19 million USD.
This hypotetical market cap isn't far from reality if we think that a comparable market cap now is the same for coins like quark,protoshares...

On the other hand eTok have a smaller market cap with $ 103,597 with 240,034 ETOK(but for me are less) out and a value of about $0.40. When all 800,000 coins out, hyp. market cap of 320,000 USD that is pretty low instead of a limited amount of coins.

RPC and eTok are on two different side but if PMC would be beetween them, then we think that a value of $3-$4 isn't too difficult to reach(market cap beetween 1,5-2 millions USD)

But we don't have any term of comparison with these because PMC are already all out and for me a pool would be nice. Many coins' value depends on the difficulty to mine and not only on the scarcity.
Set up a pool could be a great way to understand how much is difficult to mine this coin and the value is going to skyrocket.

Yes that is a good assessment. My example was only for use as a relative comparison, but your assessment seems entirely possible in the short-term for Premine.

Pools will come. Because of the way this coin works, any drop in difficulty doesn't necessarily mean miners will get more coins, as once the network readjusts and the transactions per block decrease there would be less tx fees on average in newly generated blocks, so we do not have the problem that other cryptocurrencies have of coin flooding when the difficulty goes down, which I think is a huge advantage.

Movement of coins and mining rewards are very closely linked with Premine, and that I think is what makes it very special.

[shanent]

We have to plan our next moves.

1) wallet upgrade with tx fees

2) more people in = more exchanges = more fees

3) with a great community we could easily reach major exchange, like crypsty or coinedup. Poloniex is good and easy to use but the total movement is quite ridiculous.

[ctenc001]

This coin needs services to give it some value!!!
so...

I recently launched a store, and am selling 0% fees to all of my pools for $1!!! Also selling Computer Parts!

I'd also accept the equivalent in Premine =)
Check it out!!

store.cryptotycoons.com

Also feel free to post items for sale! Its a craigslist style store. Currently prices are listed in $$ due to how unstable the prices are.
In a future release there will be live conversions to various alt coins at the time of listing.
The site handles no coin/money; similar to craigslist, you send an email to the owner to begin negotiations.
Free listing! 0% fees

____________________________________________________


So while its currently in the beta, and only shows live prices in $$ instead of coin (next version will have live conversions to supported coins, I think I am the first service to accept Premine! =D

[maardein]

We have to plan our next moves.

1) wallet upgrade with tx fees

2) more people in = more exchanges = more fees

3) with a great community we could easily reach major exchange, like crypsty or coinedup. Poloniex is good and easy to use but the total movement is quite ridiculous.

I wouldn't call coinedup a major exchange. It is ridiculously slow, and has been like that almost from the start. The dev from poloniex is actually actively developing, and making changes almost daily. I think Poloniex could very well take coinedups place as the exchange for smaller/less popular coins. Cryptsy would be a great addition of course.

For the rest, I completely agree with you

[ctenc001]

We have to plan our next moves.

1) wallet upgrade with tx fees

2) more people in = more exchanges = more fees

3) with a great community we could easily reach major exchange, like crypsty or coinedup. Poloniex is good and easy to use but the total movement is quite ridiculous.

I wouldn't call coinedup a major exchange. It is ridiculously slow, and has been like that almost from the start. The dev from poloniex is actually actively developing, and making changes almost daily. I think Poloniex could very well take coinedups place as the exchange for smaller/less popular coins. Cryptsy would be a great addition of course.

For the rest, I completely agree with you

I personally think coinmarket.io is the beset new exchange around. Crazy fast, very vocal and active developer team, and decent volume =)

[shanent]

We have to plan our next moves.

1) wallet upgrade with tx fees

2) more people in = more exchanges = more fees

3) with a great community we could easily reach major exchange, like crypsty or coinedup. Poloniex is good and easy to use but the total movement is quite ridiculous.

I wouldn't call coinedup a major exchange. It is ridiculously slow, and has been like that almost from the start. The dev from poloniex is actually actively developing, and making changes almost daily. I think Poloniex could very well take coinedups place as the exchange for smaller/less popular coins. Cryptsy would be a great addition of course.

For the rest, I completely agree with you

I know, coinedup is awfully slow in many cases. But I'm talking about movement in USD and poloniex is still at the start and maybe not too much known by the traders

[forzendiablo]

1MuQaJN2vMF8nnjzyXLiHcVKFZ4jHb9hhd

* forzendiablo wants some premineeeeeeeeeeee

[khchang]

Please teach me how to mine? Already download the program but dunno how to configure...


17TDBzr2W7MimF5msDC2YpV6ZQzBB95iEC

[creditcoin_CRD]

Please tech me how to mine?


17TDBzr2W7MimF5msDC2YpV6ZQzBB95iEC

http://preminecoin.cryptotycoons.com/forum/index.php?topic=42.0

Happy Mining

[khchang]

Please tech me how to mine?


17TDBzr2W7MimF5msDC2YpV6ZQzBB95iEC

http://preminecoin.cryptotycoons.com/forum/index.php?topic=42.0

Happy Mining

Not really understand.

Created a notepad > rename > premine.conf > paste the code inside (change rpcallowip=127.0.0.1 to rpcallowip=127.0.0.1:9335). Then click premined.exe start to mining? i try but only have blank command prompt.

Code:

server=1
rpcuser=theusername
rpcpassword=thepassword
rpcport=9335
rpcallowip=127.0.0.1
addnode=65.167.153.125
addnode=65.167.153.115
addnode=121.225.42.140
addnode=94.181.204.14
addnode=71.219.29.209
addnode=111.199.157.124
addnode=74.212.45.71
addnode=207.216.187.231
addnode=173.230.139.214