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Author Topic: What do you think about PMC coin ?  (Read 3645 times)
annpaol
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February 21, 2014, 11:22:14 AM
 #1

I think that 100% premine is a scam and probably the dev has the more of coins in his cold storage. There is only 499,000 coins but thinking that the current price is more than deserved.
What is your opinion ? This one would be great or another crappy coin ?
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shanent
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February 21, 2014, 11:33:47 AM
 #2

I think that you are wrong dude.

Fair distribution from the start and a great community behind. All the decisions made by entire community and a great potential.

For now each PMC is about 0.3 USD ma remember that also with a market cap of 1 million USD this could become 2 USD.

I leave you a link of yesterday developer interview here http://www.dinarintel.com/, maybe you can learn something more on PMC.

Print yOur PreMineCoin CaLenDar  PMC(φ) 16z7TSgoXRTepHFT1CEBXA3j5jWVQ2uADL  BTC 1AeMvtC9nhboL7fSMkyNykW864rEQWUjQC
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February 21, 2014, 11:36:09 AM
 #3

I think, this is a great coin with big potential.
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February 21, 2014, 11:38:20 AM
 #4

I think that 100% premine is a scam and probably the dev has the more of coins in his cold storage. There is only 499,000 coins but thinking that the current price is more than deserved.
What is your opinion ? This one would be great or another crappy coin ?


I've been with this coin since it started, and I can assure you the dev gave all of the coins away. If you read the thread and see how hard he's been working on this coin, and the time and money he is putting into it you would realise Premine could potentially be huge.

The current price is just the beginning for this coin. I wouldn't be investing in it if I thought for a second it couldn't be as big as Unobtanium.

It's legit. Just read the thread and see for yourself before judging the coin. The coin was 100% Premined so it could be 100% distributed. This is part of what makes PMC so huge.

It's like NXT but without 70% of all the coins being held in a few hands. If you look through the thread you'll see that the PMC community has been giving away a great many coins, and there are still promotions continuing to this day.

I'm very excited for the future of Premine.

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
Snail2
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February 21, 2014, 11:44:23 AM
 #5

Just a quick question. WTF is PMC coin ? (Been away for a week.)
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February 21, 2014, 11:46:27 AM
 #6

I think that 100% premine is a scam and probably the dev has the more of coins in his cold storage. There is only 499,000 coins but thinking that the current price is more than deserved.
What is your opinion ? This one would be great or another crappy coin ?


I've been with this coin since it started, and I can assure you the dev gave all of the coins away. If you read the thread and see how hard he's been working on this coin, and the time and money he is putting into it you would realise Premine could potentially be huge.

The current price is just the beginning for this coin. I wouldn't be investing in it if I thought for a second it couldn't be as big as Unobtanium.

It's legit. Just read the thread and see for yourself before judging the coin. The coin was 100% Premined so it could be 100% distributed. This is part of what makes PMC so huge.

It's like NXT but without 70% of all the coins being held in a few hands. If you look through the thread you'll see that the PMC community has been giving away a great many coins, and there are still promotions continuing to this day.

I'm very excited for the future of Premine.

The part of distribution could be real, in fact also I received some PMC time ago. But for me 0.00051 BTC now on poloniex is the right price. No huge potential for me.
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February 21, 2014, 11:47:26 AM
 #7

Multiple people have gone through the blockchain and verified that not only was the original account empty and all coins distributed, but that no single account held more than a few thousand coins.
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February 21, 2014, 11:48:09 AM
 #8

Just a quick question. WTF is PMC coin ? (Been away for a week.)
https://bitcointalk.org/index.php?topic=427519.5200;topicseen
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February 21, 2014, 11:53:18 AM
 #9

too many coins to catchup with!
annpaol
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February 21, 2014, 11:55:26 AM
 #10

Multiple people have gone through the blockchain and verified that not only was the original account empty and all coins distributed, but that no single account held more than a few thousand coins.

Yes this coin is only for your small community, no one here seems to know PMC.
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February 21, 2014, 12:03:32 PM
 #11

Multiple people have gone through the blockchain and verified that not only was the original account empty and all coins distributed, but that no single account held more than a few thousand coins.

Yes this coin is only for your small community, no one here seems to know PMC.

"your small community"?

PMC has a bigger community than a great many apparantly "big" coins. First you thought it was a scam, and now you think it's only a smalltime coin.

Instead of making preconceptions about a coin you know nothing about, how about you read the thread and see for yourself?

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
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February 21, 2014, 12:04:11 PM
 #12

Multiple people have gone through the blockchain and verified that not only was the original account empty and all coins distributed, but that no single account held more than a few thousand coins.

Yes this coin is only for your small community, no one here seems to know PMC.
Theres no reason this coin could not support a community as large as any top 10 marketcap coin. All it lacks is a little more exposure
It has all the right qualities to be a grade A coin.

I'm heavily involved in both PMC and NOBL, and i'd say they have similarly sized communities as far as coin holders go, NOBL is just a few days older, and on a more prominent exchange atm which gives it more exposure; this in turn has attracted more development from the community. Most of PMC's community driven development has been more behind the scenes than NOBL's marketplace, or charity. PMC has focused there development efforts on distribution: faucets, block rewarder bots, etc. Since there are no new coins to mine, the coin had different needs early on.
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February 21, 2014, 12:05:14 PM
 #13

I think that 100% premine is a scam and probably the dev has the more of coins in his cold storage. There is only 499,000 coins but thinking that the current price is more than deserved.
What is your opinion ? This one would be great or another crappy coin ?


So you are someone who missed out and now calling it a scam? I was an early adopter and the dev gave me 4000 coins. That was worth near 8 btc at the last pump! I gave a lot of the coins away, also buying and selling some myself. The community is awesome and the dev definately spread out all the coins to all the people. This coin is going somewhere, sooner or later.

                                 
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Nullu
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February 21, 2014, 12:05:40 PM
 #14

Quote
Premine, also known as PMC, is an alternate cryptocurrency that is defying normal convention in its method of mining and distribution. While some coins are mined, or earn you interest, Premine is exclusively redistributed by its users, and block rewards are generated only by network transaction fees.

The word "premine" refers to the terminology of mining before a coin is officially launched. Although the word has had both positive and negative connotations, it simply refers to coins that have been mined before launch. Since all of Premine was mined before launch for distribution, the name symbolises its unique method of distribution.  Proof of Distribution, if you will. So even though technically all of the coins are “premined”, they are all in the hands of the community.

Premine is setting out to prove that cryptographic currency can continue long after the minting process has ended, making it not only a fascinating glimpse into the future of Bitcoin, but also a viable and stable alternative that thanks to its low total supply of less than 500,000 coins, allows each coin to store a great amount of wealth. This makes PMC an excellent alternative store of money. To say Premine is the future of Bitcoin isn’t far from the truth.

Will Bitcoin be able to survive once the minting of new coins has ended? Nobody knows. PMC started with a market cap of zero. Bitcoin currently has a market cap in excess of $8 Billion USD. Already suffering from volatile pricing, we may discover that Bitcoin might not survive this transition, and that no coin with such a high market cap ever could. In this sense Premine is also future-proof, having avoided this hazardous transition phase altogether.

We have not only side-stepped this potentially hazardous event, we have embraced it and made it the very essence of PMC. No inflation.  Just distribution.

Premine is a SHA-256 coin, just like Bitcoin. When you mine Premine, you are mining the transaction fees generated by all the people who buy, sell and trade it. In this sense, you can only mine PMC as fast as it is bought and sold, making it exceptionally stable. It does not suffer the major flaw of most cryptocurrencies, which is market flooding caused by a large drop in mining difficulty. This inevitably leads to downward pressure on market pricing causing the altcoins you hold to devalue at any given moment. PMC is not based on this model and, therefore cannot flood the market in this manner.

In PMC, The market affects the block rewards, and the block rewards affect the market. The two coexist and always seek to balance one another. PMC is built on this symmetry, and that makes it an exciting investment as well as a powerful means of exchanging goods and services.

All of the coins that ever exist have already been created and have been entirely distributed amongst the community. This distribution has continued ever since on all levels, not just by the developer, but by community members and even the exchanges.

Premine is more than just an experiment. It's a concept that is proving to work.

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
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February 21, 2014, 12:09:38 PM
 #15

We are an adorable community and not small.

Do me a favour, look at PMC logo and you will fall in love Cheesy


Print yOur PreMineCoin CaLenDar  PMC(φ) 16z7TSgoXRTepHFT1CEBXA3j5jWVQ2uADL  BTC 1AeMvtC9nhboL7fSMkyNykW864rEQWUjQC
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February 21, 2014, 01:22:21 PM
 #16

Oh people, no one have explained me why this coin would be great, huge and expensive in future. Your is only hope but no real effort for this coin.
I dumped all coins that had, but i could buy the double or maybe triple now on poloniex. I have no faith in this one and your replies aren't quite persuasive.
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February 21, 2014, 01:28:56 PM
 #17

No, not a scam. Those who offered their support and interest on the announcement thread were freely given PMC. I was there and recieved a few thousand. Anyone who posted an address got some. The coins were near worthless at the time so they were rapidly spread with users encouraged to reach as many people as possible. Sorry you missed out, but even now if you do something useful, or even post your address, you'll get coins from the community.

Here is a description from the dev, posted on forums.premine.co.in, about the distribution.

Quote from: PMC @ premineco.in
Since the last of the DEV wallet is almost passed out, we think it will best to make a post about this. It is already a common question and for the purpose of documentation we will address it here.

After Premine was launched, we began passing out coins immediately. The handouts were given in the largest amounts to the pre-launch supporters, and early adopters. All coins were passed out with the hope that they would be passed out to others by the recipients. The Amounts ranged from 5000-10,000 per address, favoring the lower end.

Word spread, and more and more addresses started coming in. The giveaways were tapered off gradually. This continued for approximately 7 days. During this time the announcement was translated to ?German, Spanish, and Chinese. Bounties were given to the good and generous people who took the time to spread the word, as well as funding for people who offered to do various giveaways.

Additionally we opened a twitter account to give away coins, volunteers set up reddit, facebook, and IRC contacts. As well as a personal forum, and the first block explorer. Gratuities were obviously given, and we continued to pass out coins in a gradually reducing manor. Finally a dice game was set up with a 10,000 bounty and a seed donation. Two faucets were also opened. There was a controversial bounty of  50,000 coins set on the faucet, and because two faucets arrived within moments of each-other the makers agreed to a split. The individuals who made the faucets also very generously donated their bounties to their faucets. Everybody was encouraged heavily to pass as many coins as they could on to somebody else.

We continued to pass out coins to anybody that requested them. And funded various promotions and giveaways. We eventually arrived at two exchanges. A giveaway of 1500 PMC was donated to Poloneix exchange to host a giveaway. The recollection of the events above may vary slightly in the order in which they are documented, but everything should be easy enough to verify if you need to research the announcement thread on BCT. Some users also made scripts to give away coins as fees for the miners, appropriate donations were provided to enhance mining with TX fees.

As of the time of this post we are promoting Premine with a weekend giveaway, the remainder of the coins will be passed out, given away, and donated. We will edit this thread when necessary.
Also, if we forgot to credit somebody above by all means contact one of us. A HUGE number of people pitched in to make this happen, because our community is active. It was a very busy distribution, so I could have easily forgotten somebody Wink


Thanks for your support!

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February 21, 2014, 01:34:12 PM
 #18

Oh people, no one have explained me why this coin would be great, huge and expensive in future. Your is only hope but no real effort for this coin.
I dumped all coins that had, but i could buy the double or maybe triple now on poloniex. I have no faith in this one and your replies aren't quite persuasive.

If you don't have faith for PMC just move on, don't ever buy it, don't talk about it and find another coin as simple as that. You just helping/hyping the coin to become even more popular...Do you know that?  Grin
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February 21, 2014, 01:40:55 PM
 #19

Oh people, no one have explained me why this coin would be great, huge and expensive in future. Your is only hope but no real effort for this coin.
I dumped all coins that had, but i could buy the double or maybe triple now on poloniex. I have no faith in this one and your replies aren't quite persuasive.

Zero inflation. No miners dumping the coin as fast as they mine to pay their bills. Nice and charitable community with lots of ideas. Scientific value for Bitcoin (showing what is going to happen in a couple of years with BTC). Distribution scheme was as fair as it gets. Current market cap is far lower than the average, so our hope is not unrealistic.

Anything else you need? Smiley
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February 21, 2014, 01:41:25 PM
 #20

If you don't have faith in the coin, then that is fine. However a great many people do. Including the developer. How many coins out there are backed by actual Bitcoin? Real investment? I know that the Dev has invested at least 3 BTC, and has probably invested more with everything else he has been doing.

Those who know and understand PMC are excited about it because they understand it.

I'm sure people said the same thing about Unobtanium, NXT and XPC, and look at them now. There's very little risk in buying a few hundred now when the potential reward could be massive. I can't think of many coins that could potentially go as high as PMC could and still be this cheap.

Quite frankly, it's a good thing you don't hold Premine anymore. You would probably dump it the moment it climbs back over 0.001 BTC.

You've already said you've dumped your coins, so you've clearly already made up your mind. So why bother? You asked for reasons and people are giving you solid reasons backed by facts, and you're still not convinced? Then it's really good you sold your coins. Someone with a strong hand will have bought your coins hopefully and hold on tight when the time comes.

Quite frankly I wouldn't even sell 500 PMC if someone offered me 2 BTC for them. I'm in it for the moon.

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
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