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

[Nullu]

I'm willing to buy 50,000 PMC for .00001 each.  Please PM me if you can provide that volume and want to offload.

To buy up that much PMC would cost you exponentionally more than that. It takes just a 10th of that to double the price on the exchanges.

More than 10% of all Premine? It would cost you tens of BTC. If you're lucky you may pick up 5k, but anyone willing to sell it that cheaply would be a rare find. Good luck though!

Hard, I realize.  My plan is to give away 40,000 of that 50,000 if I'm able to get it.  I love the idea of this coin and think it could be something if we're willing to help give it away so tons of people have a little.  Create a community around this coin and we're in business.  I've been looking for a coin where tons of people can have some and this one just might be the ticket.  I just hadn't thought of doing it with a premine before.  Very interesting concept to me.

As nice as that sentiment sounds, I have an extremely hard time believing it.

Firstly, anyone holding 50,000 PMC could literally destroy this coin. That's how much PMC that is. I don't think I'd even trust myself with that much PMC, because even with the very best intentions I could collapse the market. Not only that, but removing even 5% from the active market would severely reduce generated txfees. It may push up prices in the short term, but it would decrease miners rewards considerably.

I've not seen you in this thread before, and suddenly you want to buy an extremely large amount of PMC, and when questioned state you're going to give 80% of it away.

Who is with me?  Who will commit to giving away at least 25% of your PMC holdings?  Let's say you have 20 PMC.  Commit to giving .1 PMC to 50 different people who then agree to give .005 to 2 different people. for a total of 5 PMC.  For this coin to be successful, we have to create a community around it.

Who is with me?

This community has been doing this for weeks. Since the coin started, in fact. If you read through the thread you'll see a lot of effort has and is being made to distribute PMC far and wide. No offence, but you sound like someone who wants to make a lot of money out of PMC. There's nothing wrong with that, of course. Investing in PMC is a very wise decision. But controlling that much PMC would basically kill this coin.

If you want to donate towards PMC's success, I've created a block rewarder that injects PMC into new blocks on the network for miners via tx fees. It only takes a couple of hundred PMC to keep it running for several days, and it greatly benefits PMC distribution and the network.

[MyFarm]

You haven't seen me in this thread because I'm new to it  I only found PMC a few hours ago and have been excited about the possibilities.  I do understand your concern and distrust and admittedly I have only read the first couple pages and the last ten or so of the thread so I don't have a firm grasp on what you guys have been doing.

Yes, one of my goals is to make money but I'd like to do it in a novel way.  I'd love to see a wide distribution of coin based upon giving instead of who got in early or has the most powerful mining rig.  This coin seems a perfect opportunity for that.  I haven't bought 50,000 but did buy a couple much smaller amounts via PM and plan to start giving away later today or tomorrow.  I'd still like to get more though.

[MyFarm]

As they don't allow giveaway threads anymore on this forum, does anyone know of a good forum where they ARE allowed?

[creditcoin_CRD]

You haven't seen me in this thread because I'm new to it  I only found PMC a few hours ago and have been excited about the possibilities.  I do understand your concern and distrust and admittedly I have only read the first couple pages and the last ten or so of the thread so I don't have a firm grasp on what you guys have been doing.

Yes, one of my goals is to make money but I'd like to do it in a novel way.  I'd love to see a wide distribution of coin based upon giving instead of who got in early or has the most powerful mining rig.  This coin seems a perfect opportunity for that.  I haven't bought 50,000 but did buy a couple much smaller amounts via PM and plan to start giving away later today or tomorrow.  I'd still like to get more though.

Hey! Welcome to the community, I hope you enjoy premine! Many of us put a ton of effort into the coin, and we're just getting started!

The coin was built upon mass giveaway, but I still encourage passing premine on to another person. The problem is; between initial distribution and the recent dump-offs, I think you would be hard pressed to find many people with much to give away. I'm sure there are a number, but for the most part those types of hoarders aren't in to giving anyway.

I would personally buy 100 PMC and give it to you, if you have some platform for a giveaway though.
 

[Nullu]

You haven't seen me in this thread because I'm new to it  I only found PMC a few hours ago and have been excited about the possibilities.  I do understand your concern and distrust and admittedly I have only read the first couple pages and the last ten or so of the thread so I don't have a firm grasp on what you guys have been doing.

Yes, one of my goals is to make money but I'd like to do it in a novel way.  I'd love to see a wide distribution of coin based upon giving instead of who got in early or has the most powerful mining rig.  This coin seems a perfect opportunity for that.  I haven't bought 50,000 but did buy a couple much smaller amounts via PM and plan to start giving away later today or tomorrow.  I'd still like to get more though.

Well, welcome to PMC. Just for context, an early adopter of the coin was given around 5k PMC, which is a little over 1% of total supply, and that is considered a very large stake. Anyone holding 50,000 would actually very likely make the coin worthless as it would kill off free moving supply. The coin relies on it being in as many hands as possible, and owning that much actually devalues the coins in your hands just by owning them.

This is kind of what makes this coin resistant. You can't buy up swathes of PMC and expect to be rich. A sizable stake, sure. 1%, maybe 2% if you could afford it, but unless you also distribute those coins, you'll actually be shrinking the coin's distribution and devaluing the coins in your pocket.

I think I've given away several thousand by now, and 99.9% of those were given to me in one way or another. I still have my initial stake, of which 2k is set aside for future development and bounties, which currently leaves me with 3k to invest in the Block Rewarder or other distribution methods. But I can't raise the value of PMC by myself, and the more hoarders PMC has, the more worthless it becomes. Conversely, if as many people as possible distribute PMC, the more valuable it becomes.

Every hoarder expects everyone else to pick up the slack, and so we end up with a bunch of hoarders sitting on PMC devaluing it. It's this kind of logic we have to deal with if this coin has any chance of success.

[ctenc001]

As they don't allow giveaway threads anymore on this forum, does anyone know of a good forum where they ARE allowed?

they're allowed here, just only through PMs

[MyFarm]

As they don't allow giveaway threads anymore on this forum, does anyone know of a good forum where they ARE allowed?

they're allowed here, just only through PMs

So I can create a thread with a giveaway and tell people to PM me?

[Nullu]

As they don't allow giveaway threads anymore on this forum, does anyone know of a good forum where they ARE allowed?

they're allowed here, just only through PMs

So I can create a thread with a giveaway and tell people to PM me?

Not sure threads are allowed anymore.

News: 98th now on Coinmarketcap. Now that we're on the main page we should really begin to get noticed. A great start considering we've only very recently been listed.

[MyFarm]

Nullu, I agree with you 100%.  Hoarders would render this coin pretty much invalid.  Thus I understand your concern.  While my motives are sincere, I withdraw the 50,000 request and instead offer to buy just 3,000 for now (for .00011) but I'll put that up on Poloniex instead.  So if anyone wants to hit that bid knowing I will give away 2,000 of it, please do

Hopefully that makes you a little more comfortable.

[MyFarm]

You haven't seen me in this thread because I'm new to it  I only found PMC a few hours ago and have been excited about the possibilities.  I do understand your concern and distrust and admittedly I have only read the first couple pages and the last ten or so of the thread so I don't have a firm grasp on what you guys have been doing.

Yes, one of my goals is to make money but I'd like to do it in a novel way.  I'd love to see a wide distribution of coin based upon giving instead of who got in early or has the most powerful mining rig.  This coin seems a perfect opportunity for that.  I haven't bought 50,000 but did buy a couple much smaller amounts via PM and plan to start giving away later today or tomorrow.  I'd still like to get more though.

Hey! Welcome to the community, I hope you enjoy premine! Many of us put a ton of effort into the coin, and we're just getting started!

The coin was built upon mass giveaway, but I still encourage passing premine on to another person. The problem is; between initial distribution and the recent dump-offs, I think you would be hard pressed to find many people with much to give away. I'm sure there are a number, but for the most part those types of hoarders aren't in to giving anyway.

I would personally buy 100 PMC and give it to you, if you have some platform for a giveaway though.
 

Thank you so much!  But don't give it to me.  Find a way to give it away yourself and then let me know of that method

[Nullu]

Nullu, I agree with you 100%.  Hoarders would render this coin pretty much invalid.  Thus I understand your concern.  While my motives are sincere, I withdraw the 50,000 request and instead offer to buy just 3,000 for now (for .00011) but I'll put that up on Poloniex instead.  So if anyone wants to hit that bid knowing I will give away 2,000 of it, please do

Hopefully that makes you a little more comfortable.

It does indeed. Giving away 66% of your coins would certainly increase the value of the coins in your pocket, but giving away a third would still be a good amount. If you want an easy way to distribute some of it drop me a PM. I can adjust my block rewarder to inject PMC into new blocks at whatever rate you see fit, if you wanted to spread your PMC as far as possible. It only takes a few hundred and the current mining rewards would double/triple for a few days. I've also thrown in a % chance of getting a 1 PMC block reward. It's a low percentage, 0.5%, but it's a great bonus for miners and only helps to increase distribution.

You can see my earlier posts in the thread for more details, but here it is;

Q: How does it work?

1: I use a PMC Wallet specially set up for sending out block rewards for miners.
2: Using a script, I send myself small amounts of PMC. Every time this happens the script also determines what to set the transaction fee as, aka the "block reward".
3: This transaction fee is then injected into a new block on the network.
4: When a miner finds this block, he will mine that PMC.
5: Due to the way transaction fees are handled sometimes several of these "rewards" can appear more than once in a single new block.

[MyFarm]

Are we allowed to give away PMC in this thread?

[creditcoin_CRD]

Are we allowed to give away PMC in this thread?

No, I was made aware that it is no longer allowed. We did manage to finish our initial giveaway just in time.

[hilgi]

My guess is a lot of people selling are those who received it as juts another giveaway and have no idea what the long term potential can be. They just off load it for whatever price they can get and move on. There are others on the buy side who get it and are buying up at low prices.

[creditcoin_CRD]

My guess is a lot of people selling are those who received it as juts another giveaway and have no idea what the long term potential can be. They just off load it for whatever price they can get and move on. There are others on the buy side who get it and are buying up at low prices.

yep. i know i gave a good home to some of those abandoned coins. 

[blueangel01]

Are we allowed to give away PMC in this thread?

You can use your facebook or other external websites for giveaway. Cryptocointalk is another alternatives.

[hilgi]

Is this really accurate? It is minable but in the form of tx fee's, should it be classified like that?

http://coinmarketcap.com/

[hilgi]

Are we allowed to give away PMC in this thread?

You can use your facebook or other external websites for giveaway. Cryptocointalk is another alternatives.

I did a referral giveaway on my PMC page the other day. If you want to do so let me know.

[creditcoin_CRD]

Is this really accurate? It is minable but in the form of tx fee's, should it be classified like that?

http://coinmarketcap.com/

Yes, technically it is. I think the phrase they used "not mineable" is a poor choice of words, and will confuse people. But in the context of what they are saying it is correct.

[Nullu]

My guess is a lot of people selling are those who received it as juts another giveaway and have no idea what the long term potential can be. They just off load it for whatever price they can get and move on. There are others on the buy side who get it and are buying up at low prices.

yep. i know i gave a good home to some of those abandoned coins.  

My instinct tells me I need to do the same, however as I already have a 1% Stake, I know that buying up more for myself will only constrict supply and flow, so if I bought any I would have to distribute all of it. Which is frustrating as an early adopter, as I know its potential and how insanely cheap it is right now, but my role must be to help promote the coin and ensure it's distributed as much as possible.

Unless, however, I bought dumped PMC and sold it back at a sensible market price, thus protecting the market.