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

[Seidr]

I downloaded the wallet, I dodn't know how to mine but want to on my crappy laptop. It isn't even sycnced and and I dont have an address??

1. Start the Wallet and close it again

2. make a new textfile paste this:

listen=1
server=1
rpcuser=yourname
rpcpassword=yourpassword
rpcport=9335
rpcconnect=127.0.0.1
addnode=65.167.153.125
addnode=65.167.153.115
listen=1
daemon=1
server=1

into it and save it as premine.conf in c:/users/**yourcomputername**/AppData/Roaming/Premine




3. start cgminer:
cgminer.exe --scrypt -o localhost:9335 -u yourname -p yourpassword

[creditcoin_CRD]

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.

Yeah, I can't tell exactly what he says his video feed is too crappy. The "somebody may have a pool" line is what makes me think you might be right.

[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.

Yeah, I can't tell exactly what he says his video feed is too crappy. The "somebody may have a pool" line is what makes me think you might be right.

Yeah, that's what gave it away for me. I could just about hear him say Premine. Someone was offering to set up a pool a few pages ago, so it all adds up.

I'm pretty confident he was talking about Premine. So, unless told otherwise, I think it's a strong bet that BitJohn has taken an interest in Premine. I'd love to hear it from him personally though. If he is interested, then just declaring here it would raise PMC's profile a great deal.

Either way, we'll continue to work hard to get Premine where it needs to be. I agree with shanent that we need to start thinking ahead. Everything seems to be slightly on hold as we watch the network and see how it develops with the transaction fees. However, the only way to see how well it does when there is more traffic is to increase traffic.

[Benezivas]

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.

Yeah, I can't tell exactly what he says his video feed is too crappy. The "somebody may have a pool" line is what makes me think you might be right.

Yeah, that's what gave it away for me. I could just about hear him say Premine. Someone was offering to set up a pool a few pages ago, so it all adds up.

I'm pretty confident he was talking about Premine.

While I don't personally would get my hopes high right now, it would certainly add a really really fun variable into this experiment: Sudden exposure to a big market. I am currently not sure whether I should think of this to be a good or bad thing in the end, but it would certainly become really interesting regarding the network.

Mind this: Once this coin hits cryptsy (if at all), the distribution phase will most likely be over and switched to the mining end. I don't want to say that this is a bad thing, but I wonder how many people are currently involved and if we shouldn't spread out the coin more in any way thinkable (give some to your personal friends or so) before this happens. It is very easy to become a hoarder right now due to the low prices over on poloniex.

As I said: I can't tell what to do, really. I will personally spread out the coin to a few more people I know myself, but right now I am not sure on which other ways we can increase the distribution.

[Nullu]

Well, I will keep distributing my Premine for as long as possible, and if we did hit a big exchange like Cryptsy, then rather than give it away with my Block Rewarder script, I would probably put it towards development bounties and other projects instead, where my PMC would be better spent should PMC's value rise significantly. But yes, giving it away for free would effectively end for me at that stage, but the funds would still be used towards expanding PMC in one form or another.

I don't think you can realistically expect people to give away PMC if the value goes through the roof. Why should they? The people who deserved PMC are here now supporting the coin. Not the people who only come along once the price has rocketed. If you want PMC, you need to be here now. If you join when we hit a big exchange and expect free PMC, then I'm afraid you should have believed in the coin before it went big, not afterwards.

That's just the way it is. You can't expect something for nothing. It's the people who get free PMC now who are supporting the coin. PMC has no time for hoarders or people wanting handouts only after PMC goes through the roof.

When it does happen, then you'd have to earn PMC, rather than expect it to be given to you.

[hilgi]

Block Rewarder Status: Live
Block Rewarder Pot: 100 PMC
Time: 5 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.41014965)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link

First block reward just went out; 0.3000006.

Going to be a lot higher this time it seems. Network is imposing additional transaction fees.

Where can I donate to your rewarder?

[Nullu]

Block Rewarder Status: Live
Block Rewarder Pot: 100 PMC
Time: 5 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.41014965)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link

First block reward just went out; 0.3000006.

Going to be a lot higher this time it seems. Network is imposing additional transaction fees.

Where can I donate to your rewarder?

I'll post another update tonight and include the link directly to the blockrewarder. I've not ran into any problems with the wallet since putting in the 1 PMC txfee buffer, so I will probably up the max coins it holds from 100 PMC to 200 PMC.

I'll post the direct link later, but if you prefer you can send it to the address in my sig and I'll top the Block Rewarder up with it tonight. Whichever is easiest.  

Edit: Ah, the block rewarder address is 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV. There's a link to it in my post.

[hilgi]

Block Rewarder Status: Live
Block Rewarder Pot: 100 PMC
Time: 5 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.41014965)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link

First block reward just went out; 0.3000006.

Going to be a lot higher this time it seems. Network is imposing additional transaction fees.

Where can I donate to your rewarder?

I'll post another update tonight and include the link directly to the blockrewarder. I've not ran into any problems with the wallet since putting in the 1 PMC txfee buffer, so I will probably up the max coins it holds from 100 PMC to 200 PMC.

I'll post the direct link later, but if you prefer you can send it to the address in my sig and I'll top the Block Rewarder up with it tonight. Whichever is easiest.  

Edit: Ah, the block rewarder address is 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV. There's a link to it in my post.

Sounds good, once the internet provider comes and replaces my modem, I'll be able to send. For now a chromebook and smartphone tethering is cramping my style. :-)

[shanent]

We need a Max Keiser too

[Nullu]

We need a Max Keiser too

Pfft. Keep Max away from Premine. Constant 404s. 

[Zzzack]

We need a Max Keiser too

Such a scum bag. I know he brings attention to some coins and all... but I don't listen to his advice.

[SlidingHorn]

We need a Max Keiser too

Such a scum bag. I know he brings attention to some coins and all... but I don't listen to his advice.

I'd never heard of the guy until the noise over the coin started...

We're a tad ignorant on this side of the pond

[wosch]

Hi there
What do you think about this new exchange Allcoin.com?
https://bitcointalk.org/index.php?topic=450306.0
I like the design of the website and market except the orthographic mistakes ;-)
I proposed to add PMC (#4).
Why not give it a try?
It's maybe easy to get PMC there if some of you reply to it.

[Nullu]

Hi there
What do you think about this new exchange Allcoin.com?
https://bitcointalk.org/index.php?topic=450306.0
I like the design of the website and market.
I proposed to add PMC (#4).
Why not give it a try?
It's maybe easy to get PMC there if some of you reply to it.

I am very very cautious of new exchanges. I do not want to see people's PMC vanishing. Honestly? I would say we need to avoid new exchanges like the plague. Freshmarket is relatively new and it's already been hacked. Might not ever return. Poloniex seems like a good exchange, and it's not so new that it feels like a risk.

But a brand new exchange? Please no. We're a young coin. We don't need that sort of risk. The exchanges will come to us, in time. Right now we don't need to be in any mad rush attempt to get on any exchange that pops up. Premine is doing well.

[minime1]

Is the faucet running dry? The rewards dropped.

[creditcoin_CRD]

Is the faucet running dry? The rewards dropped.

I think he said he was going to half the payouts today yes.

[carlomagno]

Remove line on first post

https://freshmarket.co.in/index.php?page=trade&market=120   -ONLINE

Freshmarket was hacked
 

[creditcoin_CRD]

Remove line on first post

https://freshmarket.co.in/index.php?page=trade&market=120   -ONLINE

Freshmarket was hacked
 

Changed - thanks

[kingscrown]

ive made a post about coins that aint on Cryptsy but should be invested now:
http://fuk.io/cryptocurrencies-to-invest-in-right-now/

share the post and if theres any bounty for spreadking word out - also theres adresses below it!

[blueangel01]

Hi there
What do you think about this new exchange Allcoin.com?
https://bitcointalk.org/index.php?topic=450306.0
I like the design of the website and market.
I proposed to add PMC (#4).
Why not give it a try?
It's maybe easy to get PMC there if some of you reply to it.

I am very very cautious of new exchanges. I do not want to see people's PMC vanishing. Honestly? I would say we need to avoid new exchanges like the plague. Freshmarket is relatively new and it's already been hacked. Might not ever return. Poloniex seems like a good exchange, and it's not so new that it feels like a risk.

But a brand new exchange? Please no. We're a young coin. We don't need that sort of risk. The exchanges will come to us, in time. Right now we don't need to be in any mad rush attempt to get on any exchange that pops up. Premine is doing well.

Our coins are too precious to decrease in numbers. Yeah we should only put our coins in the trusted exchanges.