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

[TheBeardedMann]

I'm incredibly interested as a holder in Quark. I feel like QRK will essentially be in the same spot as this coin, so i'm trying to get ideas from the problems we run into here.
Another interesting part of this project is the price determination. It's hard for me to see how people currently value this coin/will value it.

This won't be like Quark or any other coin's end.  The no mining of coins is what gathered the interest whereas the no mining of coins for other coins is what will lose interest.  BitCoin will be another story though.  It's established.  Alt's, nope.  There is always another Alt to mine for coins.  Premine isn't a good indicator of what will happen once a coin is completely mined.  Premine is a whole new way of distributing coins.

[1714731975]

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[1714731975]

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[1714731975]

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[1714731975]

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[1714731975]

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[GröBkAz]

This has been an interesting thread to read.

A good experiment, I am following it with interest to see how things go.

I'm incredibly interested as a holder in Quark. I feel like QRK will essentially be in the same spot as this coin, so i'm trying to get ideas from the problems we run into here.

Another interesting part of this project is the price determination. It's hard for me to see how people currently value this coin/will value it.

Usually the determining value if the difficulty to mine, and also the surrounding hype, but both this are prone to high market fluctuations. We have the difficulty to mine, but without the hype.

It's an interesting situation. Premine is rare, but not quite rare enough due to the amount of current holders, and the volume of the one exchange we are on. All it would take is a bigger exchange and I believe Premine would really take off. Essentially, there needs to be more wealth distribution.

On a bigger exchange, the popularity of this coin would be enhanced. This also leads to more distribution.

[Nullu]

This has been an interesting thread to read.

A good experiment, I am following it with interest to see how things go.

I'm incredibly interested as a holder in Quark. I feel like QRK will essentially be in the same spot as this coin, so i'm trying to get ideas from the problems we run into here.

Another interesting part of this project is the price determination. It's hard for me to see how people currently value this coin/will value it.

Usually the determining value if the difficulty to mine, and also the surrounding hype, but both this are prone to high market fluctuations. We have the difficulty to mine, but without the hype.

It's an interesting situation. Premine is rare, but not quite rare enough due to the amount of current holders, and the volume of the one exchange we are on. All it would take is a bigger exchange and I believe Premine would really take off. Essentially, there needs to be more wealth distribution.

On a bigger exchange, the popularity of this coin would be enhanced. This also leads to more distribution.

Yes, I am in agreement.

[Nullu]

Block Rewarder Status: Live
Block Rewarder Pot: 96 PMC (Maximum: 150)
Time: 30 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.43000086)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link
Donation Address: 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV

Happy mining! These coins won't last long. Get mining to receive bonus PMC. Once it's gone, it's gone.

[Zzzack]

I'm incredibly interested as a holder in Quark. I feel like QRK will essentially be in the same spot as this coin, so i'm trying to get ideas from the problems we run into here.
Another interesting part of this project is the price determination. It's hard for me to see how people currently value this coin/will value it.

This won't be like Quark or any other coin's end.  The no mining of coins is what gathered the interest whereas the no mining of coins for other coins is what will lose interest.  BitCoin will be another story though.  It's established.  Alt's, nope.  There is always another Alt to mine for coins.  Premine isn't a good indicator of what will happen once a coin is completely mined.  Premine is a whole new way of distributing coins.

I think these are still similar situations. Quark is only producing 400$ coin/day. They have to incentivize miners in some manner if they want to keep the network strength up. PMC needs to figure out how to incentivize network strength as well.

[shanent]

Block Rewarder Status: Live
Block Rewarder Pot: 96 PMC (Maximum: 150)
Time: 30 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.43000086)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link
Donation Address: 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV

Happy mining! These coins won't last long. Get mining to receive bonus PMC. Once it's gone, it's gone.

I copied this in a post in alternate cryptocurrencies https://bitcointalk.org/index.php?topic=454018.msg5004712#msg5004712

[Nullu]

Remember folks; pumps are bad. What comes up, must come down. Wait for your time to buy. Watch the prices.  

[TheBeardedMann]

I think these are still similar situations. Quark is only producing 400$ coin/day. They have to incentivize miners in some manner if they want to keep the network strength up. PMC needs to figure out how to incentivize network strength as well.

Food for thought:
Quark - 247,000,000 QRK initially mined.  1,000,000 QRK mined each year after.  0.004% mined each year roughly.
Premine - 500,000 PMC instantly mined.  0 PMC mined each year after.  At 0.01 PMC tax per transaction, it would take only 200,000 transactions to reach 2,000 PMC which is 0.004% of 500,000.
Yes, I know it's not quite the same, but it should give you an idea that mining for TX Fees isn't that bad and it's similar to mining for Quark......kinda.

I agree with you completely, that's is similar to Quark.  But I'm talking about the end of a coin.  I was wrong about the end of Quark.  Quark isn't a good coin to compare to because it has no end.

[GröBkAz]

Block Rewarder Status: Live
Block Rewarder Pot: 96 PMC (Maximum: 150)
Time: 30 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.43000086)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link
Donation Address: 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV

Happy mining! These coins won't last long. Get mining to receive bonus PMC. Once it's gone, it's gone.

I copied this in a post in alternate cryptocurrencies https://bitcointalk.org/index.php?topic=454018.msg5004712#msg5004712

The community slowly picks up speed. Now are still missing a few funny videos, meaningless pictures and linguistically reduced claims.  

[Zzzack]

Remember folks; pumps are bad. What comes up, must come down. Wait for your time to buy. Watch the prices.  

2014-02-07 20:22:35   Buy   0.00015   1968.8702842   0.29533054

is one of the costlier purchases I've seen. They bought it a little high IMO. Makes my few coins worth dollars at least.



And @thebeardedmann - I forgot about the slight QRK inflation. This coin will be different. Definitely more deflationary since coins will be lost and never recovered. I guess this will have more implications for other coins that impose a hard cap. Could shed light on the Doge debate of hard vs no cap.

[creditcoin_CRD]

Block Rewarder Status: Live
Block Rewarder Pot: 96 PMC (Maximum: 150)
Time: 30 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.43000086)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link
Donation Address: 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV

Happy mining! These coins won't last long. Get mining to receive bonus PMC. Once it's gone, it's gone.

I copied this in a post in alternate cryptocurrencies https://bitcointalk.org/index.php?topic=454018.msg5004712#msg5004712

The community slowly picks up speed. Now are still missing a few funny videos, meaningless pictures and linguistically reduced claims.  

...but wait... we had cats a couple pages ago!

[Nullu]

Thank you to whoever sent 300 PMC to the blockwarder. It's a little more than the maximum number of coins the wallet can currently hold, but the rest will get auto sent to an offline wallet.

I think we've got enough PMC to run this through the weekend now. 

[GröBkAz]

Block Rewarder Status: Live
Block Rewarder Pot: 96 PMC (Maximum: 150)
Time: 30 Seconds (minimum) between Payouts
Block Reward: Minimum 0.01000000, Maximum: ? ? ? (Previous Max reward: 0.43000086)
Block Rewards per block 1x, 2x, 3x
Block Explorer Payout Address: Link
Donation Address: 1CUWaAoF1pPthNqzudZBaM38LgzyeQ4JiV

Happy mining! These coins won't last long. Get mining to receive bonus PMC. Once it's gone, it's gone.

I copied this in a post in alternate cryptocurrencies https://bitcointalk.org/index.php?topic=454018.msg5004712#msg5004712

The community slowly picks up speed. Now are still missing a few funny videos, meaningless pictures and linguistically reduced claims.  

...but wait... we had cats a couple pages ago!

We need more cats, dogs and videos with Hitler

[TheBeardedMann]

The community slowly picks up speed. Now are still missing a few funny videos, meaningless pictures and linguistically reduced claims.  

[Zzzack]

Thank you to whoever sent 300 PMC to the blockwarder. It's a little more than the maximum number of coins the wallet can currently hold, but the rest will get auto sent to an offline wallet.

I think we've got enough PMC to run this through the weekend now. 

Get some more publicity for this, bud! We need to find some miners outside of our little communal thread

[Nullu]

Thank you to whoever sent 300 PMC to the blockwarder. It's a little more than the maximum number of coins the wallet can currently hold, but the rest will get auto sent to an offline wallet.

I think we've got enough PMC to run this through the weekend now. 

Get some more publicity for this, bud! We need to find some miners outside of our little communal thread

Yeah, we do need more publicity. 

I have PMC that I can spend on publicity. Any ideas?

[shanent]

Thank you to whoever sent 300 PMC to the blockwarder. It's a little more than the maximum number of coins the wallet can currently hold, but the rest will get auto sent to an offline wallet.

I think we've got enough PMC to run this through the weekend now. 

Get some more publicity for this, bud! We need to find some miners outside of our little communal thread

Yeah, we do need more publicity. 

I have PMC that I can spend on publicity. Any ideas?

We have to make a plan

[Zzzack]

lets bankroll this villain with our pmc  http://blogs.metrotimes.com/news-blawg/kwame-kilpatrick-needs-money/

[shanent]

I've pumped this post https://bitcointalk.org/index.php?topic=454018.0

We need more attention and more people interested

[Nullu]

I've pumped this post https://bitcointalk.org/index.php?topic=454018.0

We need more attention and more people interested

How about someone comes up with a nice swanky signature? I would happily purchase some signature space for 10 PMC a signature.