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Author Topic: What do you think about PMC coin ?  (Read 3656 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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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.

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February 21, 2014, 11:36:09 AM
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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.

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February 21, 2014, 11:44:23 AM
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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
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too many coins to catchup with!
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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?

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February 21, 2014, 12:04:11 PM
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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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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


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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.

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February 21, 2014, 02:06:16 PM
 #21

From the first page on the ANNC page:


"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 symbolizes 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."


Hope that helps...

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February 21, 2014, 02:11:19 PM
 #22

Let's just even pretend for a second the Dev DID have a few thousand in cold storage (he does't), honestly this whole premise controversy offends me a lot less than the multi pool miners who swoop in and dump tens of thousands of coins just to make a quick buck and leave everyone else a bag holder. I'd much rather see the developer of a great coin profit from his creation than the fly-by-night snakes who crash coins on a daily basis.
After all, Satoshi holds hundreds of thousands of coins himself, where is the hate or scam accusations hurled at him?

Anyway I think PMC is a great concept, it could serve as a virtual "bank" for Bitcoin for holders to secure their wealth from market volatility, it will only climb in value like UNO due to its scarcity, and best of all, Wolong and his minions can't manipulate it so easily!

I also think it has a great logo and it really stands out among all the bad photoshop faux coins you see on the exchange and coin lists. It also has a great community and I suspect it requires a more educated holder to appreciate it because most trolls don't bother to read about it and just run out at the word "Premined".

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February 21, 2014, 02:24:29 PM
 #23

Let's just even pretend for a second the Dev DID have a few thousand in cold storage (he does't), honestly this whole premise controversy offends me a lot less than the multi pool miners who swoop in and dump tens of thousands of coins just to make a quick buck and leave everyone else a bag holder. I'd much rather see the developer of a great coin profit from his creation than the fly-by-night snakes who crash coins on a daily basis.
After all, Satoshi holds hundreds of thousands of coins himself, where is the hate or scam accusations hurled at him?

Anyway I think PMC is a great concept, it could serve as a virtual "bank" for Bitcoin for holders to secure their wealth from market volatility, it will only climb in value like UNO due to its scarcity, and best of all, Wolong and his minions can't manipulate it so easily!

I also think it has a great logo and it really stands out among all the bad photoshop faux coins you see on the exchange and coin lists. It also has a great community and I suspect it requires a more educated holder to appreciate it because most trolls don't bother to read about it and just run out at the word "Premined".



The dev went one better. He gave all the coins away, and then bought his own coins back on the exchanges.

PMC had the fairest launch of a distributed coin I've ever seen.

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February 21, 2014, 02:43:20 PM
 #24

During the recent dumps on the exchanges, it wouldn't have cost much at all to amass 10k PMC.  If Dev was in this solely for the money wouldn't it make more sense to distribute all the coin to get the ball rolling then knowing that the market is going to be shaky initially buy hard during price drops and hold that?  I mean with BTC prices being low now, PMC is stupid cheap during the price drops.  We all know that this coin is going places and buying now is a good investment. 

But I mean do what you think is right...

If PMC is worthless to you, my address is in my sig line...

PMC - 15HQy3xkmZacctxXZp2hrAj6YxKYqNbU9D  PMP - PR6KSyvmRP8GkvopsCbqrzQ68FCv3yEC9L
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February 21, 2014, 03:45:14 PM
 #25

The problem here is that all the replies come from users involved in PMC. Not unbiased.I look constanly poloniex and today, after my post, many people are dumping.
If I was useful to someone please tip me.

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February 21, 2014, 03:51:30 PM
 #26

I don't think people get the main fact about pre-mine... The cost to maintain the price of the coin is ZERO.
Lets take Bitcoin for a moment and assume a price of 500 USD each....

25 new Bitcoins are produced ever 10 minutes... that is 3600 BTC a day... @ 500 USD we need to inject 1.8 MILLION dollars into the system just to maintain the price of 500 USD each.... or 657 million dollars a year.... Bitcoin has been doing this easily, admittedly and as the block rewards go down this will decrease. Eventually the bitcoin network will be supported only by transaction fees... and the price won't need the injection of capital to stay up... that is in the year 2160 or so.... OR

That day is NOW. Premine coin IS BTC in everyway, address space, sha256, 10 minute blocks etc..everything EXCEPT PMC has zero block awards.
And strangely it actually s distributed more evenly amongst it's users than Bitcoin itself... ( Think Winklevoss Twins etc )

Because no new coins are injected into the system there is ZERO price maintanence costs. We have skipped that entire era and do not even have the blockchain bloat the BTC has...

The PMC community was born with a pay it forward/giving mentality and even to this day someone will probably send you some free ones... This era will end eventually, but you certainly can get some on the cheap at the echanges....

This coin is similar to Unobtanium in it's rarity, improves on Unobtanium with a good community
( I give kudos to UNO though, very exciting stuff now )
I think PMC will find a niche in charity, wealth storage, and hopefully a steadier hedge against the wild fluctuations of more hyped coins ( Doge )

It is BTC, like BTC will be in the future...  If PMC does well, that means BTC will continue to do well for the foreseable future...


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February 21, 2014, 04:19:30 PM
 #27

On the early days on PMC, i was one of the people who posted interested. I think there was only 10 - 20 people interested. Although i received 5k initially, The value of PMC 5k is less than $10 or worthless. For those who was not lucky enough to be there at that time could have bought it for a cheaper price. The dev have given away almost all of the 500k.  

Don't you wonder what will happen to BTC in the future? 100 years from now? You can see it in PMC.

You think in the future people will say BTC is a scam because they are not able to mine it or they did not get giveaway?

Seriously, i think in 100 years only 500k will be left of BTC the rest will be lost forever.

Msg me if you want me to put anything here.
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February 21, 2014, 04:28:36 PM
 #28

The problem here is that all the replies come from users involved in PMC. Not unbiased.I look constanly poloniex and today, after my post, many people are dumping.
If I was useful to someone please tip me.

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February 21, 2014, 04:36:15 PM
 #29

Everyone is thinking about PMC wrong.  It's not a coin to mine (yes you can-ish), it's a coin to buy/sell/trade/giveaway.  It's not for new-comers per se, in the fact that you can't mine it like a brand new coin.  With no new coins or inflation or deflation, use PMC as insurance when coins take a dip.  The fact that the number of coins does not change, protects the value stronger than anything else.  It might not look like it now, but it will be that coin that has a solid base.

Think about it this way.  What if every exchange switched over to PMC as their base currency?  No change in the number of coins, so you don't have to worry about new coins diluting the value.  BTC changes based on miners/government policies/etc.  PMC is a solid foundation with nothing to interfere.  Keeping PMC in the cryptocurrency world as base will secure a foundation for all coins.  And it's based on BTC so securing the network with a strong hashrate is very easy.

I get it.  It's just seems hard to have others get it too.  And if you weren't in on the beginning, you might not understand that the coins were distributed everywhere, even though no one could mine them.
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February 21, 2014, 04:50:44 PM
 #30

Everyone is thinking about PMC wrong.  It's not a coin to mine (yes you can-ish), it's a coin to buy/sell/trade/giveaway.  It's not for new-comers per se, in the fact that you can't mine it like a brand new coin.  With no new coins or inflation or deflation, use PMC as insurance when coins take a dip.  The fact that the number of coins does not change, protects the value stronger than anything else.  It might not look like it now, but it will be that coin that has a solid base.

Think about it this way.  What if every exchange switched over to PMC as their base currency?  No change in the number of coins, so you don't have to worry about new coins diluting the value.  BTC changes based on miners/government policies/etc.  PMC is a solid foundation with nothing to interfere.  Keeping PMC in the cryptocurrency world as base will secure a foundation for all coins.  And it's based on BTC so securing the network with a strong hashrate is very easy.

I get it.  It's just seems hard to have others get it too.  And if you weren't in on the beginning, you might not understand that the coins were distributed everywhere, even though no one could mine them.

Agreed. I could see PMC as a standard. BTC has a lot of inflation every day (dropping the price) and PMC would remain stable unless demand dramatically outpaced supply.

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February 21, 2014, 04:51:27 PM
 #31

The problem here is that all the replies come from users involved in PMC. Not unbiased.I look constanly poloniex and today, after my post, many people are dumping.
If I was useful to someone please tip me.

BTC address 14biFENcmrG9xW7yaHyDFMcjnokrWuHwst

LTC address Lga7nqNYMcWYGpKzLFW6GVhGipkZeU7D3t

You don't deserve a donation. You did zero research and made no effort in explaining what it is about PMC you don't like. So people should tip you for spreading FUD? I don't think so.

People dump. Welcome to Alternate cryptocurrencies. You've had zero impact on the price of PMC, I assure you. It's dropped one tiny fraction. Back down to where it was earlier today. If anything you've just exposed more people to PMC. Unintentionally of course. You don't get tipped for that either.

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February 21, 2014, 04:56:05 PM
 #32

Agreed. I could see PMC as a standard. BTC has a lot of inflation every day (dropping the price) and PMC would remain stable unless demand dramatically outpaced supply.

This is the problem with alts now, none can truly rise up on their own and are so pegged heavily to the price of Bitcoin, it begs the question of why even have alts in the first place. If all alts exist just to win some money to buy bitcoin, yet the alts continuously fall in price WITH bitcoin, then what is the purpose of ming for or buying alts? Any gains you made just keep getting nullified by the extreme volatility.

I think instead of so much people thinking of bitcoin as the gold standard of crypto, PMC should be the gold and leave Bitcoin as what it was INTENDED to be, the de facto currency of the internet, not a storer of wealth. And beyond bitcoin you have many alts that will serve their purpose, others will die off, but PMC can be the base upon which all the wealth concentrates.
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February 21, 2014, 05:15:21 PM
 #33

I don't think people get the main fact about pre-mine... The cost to maintain the price of the coin is ZERO.
Lets take Bitcoin for a moment and assume a price of 500 USD each....

25 new Bitcoins are produced ever 10 minutes... that is 3600 BTC a day... @ 500 USD we need to inject 1.8 MILLION dollars into the system just to maintain the price of 500 USD each.... or 657 million dollars a year.... Bitcoin has been doing this easily, admittedly and as the block rewards go down this will decrease. Eventually the bitcoin network will be supported only by transaction fees... and the price won't need the injection of capital to stay up... that is in the year 2160 or so.... OR

That day is NOW. Premine coin IS BTC in everyway, address space, sha256, 10 minute blocks etc..everything EXCEPT MNC has zero block awards.
And strangely it actually s distributed more evenly amongst it's users than Bitcoin itself... ( Think Winklevoss Twins etc )

Because no new coins are injected into the system there is ZERO price maintanence costs. We have skipped that entire era and do not even have the blockchain bloat the BTC has...

The PMC community was born with a pay it forward/giving mentality and even to this day someone will probably send you some free ones... This era will end eventually, but you certainly can get some on the cheap at the echanges....

This coin is similar to Unobtanium in it's rarity, improves on Unobtanium with a good community
( I give kudos to UNO though, very exciting stuff now )
I think PMC will find a niche in charity, wealth storage, and hopefully a steadier hedge against the wild fluctuations of more hyped coins ( Doge )

It is BTC, like BTC will be in the future...  If PMC does well, that means BTC will continue to do well for the foreseable future...



facepalm
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February 21, 2014, 05:21:50 PM
 #34

I don't think people get the main fact about pre-mine... The cost to maintain the price of the coin is ZERO.
Lets take Bitcoin for a moment and assume a price of 500 USD each....

25 new Bitcoins are produced ever 10 minutes... that is 3600 BTC a day... @ 500 USD we need to inject 1.8 MILLION dollars into the system just to maintain the price of 500 USD each.... or 657 million dollars a year.... Bitcoin has been doing this easily, admittedly and as the block rewards go down this will decrease. Eventually the bitcoin network will be supported only by transaction fees... and the price won't need the injection of capital to stay up... that is in the year 2160 or so.... OR

That day is NOW. Premine coin IS BTC in everyway, address space, sha256, 10 minute blocks etc..everything EXCEPT MNC has zero block awards.
And strangely it actually s distributed more evenly amongst it's users than Bitcoin itself... ( Think Winklevoss Twins etc )

Because no new coins are injected into the system there is ZERO price maintanence costs. We have skipped that entire era and do not even have the blockchain bloat the BTC has...

The PMC community was born with a pay it forward/giving mentality and even to this day someone will probably send you some free ones... This era will end eventually, but you certainly can get some on the cheap at the echanges....

This coin is similar to Unobtanium in it's rarity, improves on Unobtanium with a good community
( I give kudos to UNO though, very exciting stuff now )
I think PMC will find a niche in charity, wealth storage, and hopefully a steadier hedge against the wild fluctuations of more hyped coins ( Doge )

It is BTC, like BTC will be in the future...  If PMC does well, that means BTC will continue to do well for the foreseable future...



facepalm

There'll be a lot of facepalming once Bitcoin stops minting, I agree.  Wink

PMC is in every sense BTC fastforwarded 10 years.

Most Bitcoins have been seized, lost, stolen or otherwise mishandled. The total amount in circulation in ten years time will be a mere fraction of 21 million. Also take into account that all you'll be mining is the transaction fees, and there you have it. PMC is a proof of concept of something that will eventually happen to Bitcoin.

The only thing Premine can't determine is whether or not BTC will survive the transition between minting and being able to mine transaction fees when the coin has an $8 billion+ market cap. PMC never had this issue as its market cap effectively began at 0.

Additionally, another major problem for Bitcoin is actually if it draws too much success. What if the price were 100-fold? What then? Could people even afford to send transactions to one another? What would be the lowest possible denomination to 1 cent or 1 penny?

At least PMC asks questions. Nobody is saying PMC will be as big as Bitcoin. We're not into hype. We're just saying it is Bitcoin's future. Unless Bitcoin changes its future, this is the model it will have. Like it or not.

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February 21, 2014, 05:39:25 PM
 #35

I don't think people get the main fact about pre-mine... The cost to maintain the price of the coin is ZERO.
Lets take Bitcoin for a moment and assume a price of 500 USD each....

25 new Bitcoins are produced ever 10 minutes... that is 3600 BTC a day... @ 500 USD we need to inject 1.8 MILLION dollars into the system just to maintain the price of 500 USD each.... or 657 million dollars a year.... Bitcoin has been doing this easily, admittedly and as the block rewards go down this will decrease. Eventually the bitcoin network will be supported only by transaction fees... and the price won't need the injection of capital to stay up... that is in the year 2160 or so.... OR

That day is NOW. Premine coin IS BTC in everyway, address space, sha256, 10 minute blocks etc..everything EXCEPT MNC has zero block awards.
And strangely it actually s distributed more evenly amongst it's users than Bitcoin itself... ( Think Winklevoss Twins etc )

Because no new coins are injected into the system there is ZERO price maintanence costs. We have skipped that entire era and do not even have the blockchain bloat the BTC has...

The PMC community was born with a pay it forward/giving mentality and even to this day someone will probably send you some free ones... This era will end eventually, but you certainly can get some on the cheap at the echanges....

This coin is similar to Unobtanium in it's rarity, improves on Unobtanium with a good community
( I give kudos to UNO though, very exciting stuff now )
I think PMC will find a niche in charity, wealth storage, and hopefully a steadier hedge against the wild fluctuations of more hyped coins ( Doge )

It is BTC, like BTC will be in the future...  If PMC does well, that means BTC will continue to do well for the foreseable future...



facepalm

There'll be a lot of facepalming once Bitcoin stops minting, I agree.  Wink

PMC is in every sense BTC fastforwarded 10 years.

Most Bitcoins have been seized, lost, stolen or otherwise mishandled. The total amount in circulation in ten years time will be a mere fraction of 21 million. Also take into account that all you'll be mining is the transaction fees, and there you have it. PMC is a proof of concept of something that will eventually happen to Bitcoin.

The only thing Premine can't determine is whether or not BTC will survive the transition between minting and being able to mine transaction fees when the coin has an $8 billion+ market cap. PMC never had this issue as its market cap effectively began at 0.

Additionally, another major problem for Bitcoin is actually if it draws too much success. What if the price were 100-fold? What then? Could people even afford to send transactions to one another? What would be the lowest possible denomination to 1 cent or 1 penny?

At least PMC asks questions. Nobody is saying PMC will be as big as Bitcoin. We're not into hype. We're just saying it is Bitcoin's future. Unless Bitcoin changes its future, this is the model it will have. Like it or not.

+1
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February 21, 2014, 05:41:40 PM
 #36

i think pmc is a great experiment! i truelly think this is how alot of coins will be made from now on. its a good way to go imo, i love pmc and i think they are gonna be worth quite abit, im not selling and probly wont for awhile!
thats what i think

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February 21, 2014, 05:55:50 PM
 #37

I invested over 4 BTC in Premine for the following reasons:
- I was sick of the altcoin pump & dump scene
- simplicity by proven concept (BTC)
- I was intriged by the idea of running a Tx fee only coin
- Low to no risk for farm mining monopoly
- ASIC abuse would only speed up transactions, diff bombs would boost block rewards until retarget (who minds that)
- network could in theory run on a few CPUs, the most environmental coin there is!

100% of the coins are mined, if I own 1% today I will own that same piece of the pie in a year from now.
All the elements are here to create a stable alternative for storing BTC.

I was too late for the giveaway at the start, I received 35 PMC and donated that to the block rewarder.
Every day I burn up to 25 PMC per block rewarder script I run to keep the blocks filled in this startup phase, I'm not just hoarding but participating.

I really have to give you props. You saw the value of PMC and weren't afraid to invest. I hope you are one of the first in line to reap the benefits when PMC reaches its potential. That fact you're even giving away PMC back to the network shows goes to show what makes PMC such a great coin. It has a community that really cares about its future.

Both me and JohnnyVicious run "Block Rewarder" scripts to inject extra rewards into newly minded blocks for miners. These come out of our own pockets, and I've also had generous donations from the community to keep my Block Rewarder up and running. I've never known such a valuable coin to give back so much. This is PMC's big plan. If you give the coin to enough people, eventually it will gain critical mass. If enough people hold a worthwhile amount of PMC, we can begin to create real wealth distribution. Not faux wealth like other coins that claim to be fair where the majority of the coins are in the hands of a handful of big investors.

When those coins crash and burn, Premine will still be here.

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February 21, 2014, 06:15:52 PM
 #38

"Not faux wealth like other coins that claim to be fair where the majority of the coins are in the hands of a handful of big investors."

This statement above is the true beauty of all decentralized currencies... There is not central bank/government forcing you to participate when wealth inequality goes completely hyperbolic... the 'little guys' will simply stop participating and it will all collapse ( as it should )

The PMC community was born by giving ALL of it away to as many people as possible and we still are giving it away ( albeit in smaller doses now )
This bodes well for the longevity of the project... i.e. initially less wealth inequality.

To maintain this I propose that besides the transaction fees for the miners, we also have a "PMC Community Approved" moniker for businesses who in addition to creating transaction fees, also donate a portion of their proceeds to the faucets AND/OR to charities....

Bitciontalk.org will keep people honest....






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February 21, 2014, 06:31:20 PM
 #39

To maintain this I propose that besides the transaction fees for the miners, we also have a "PMC Community Approved" moniker for businesses who in addition to creating transaction fees, also donate a portion of their proceeds to the faucets AND/OR to charities....

Bitciontalk.org will keep people honest....

The idea of an investor group for Premine has been discussed a few times, and I think it's under consideration for Premine's new website.

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
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February 21, 2014, 08:22:27 PM
 #40


You don't deserve a donation.



In fact someone donated me some LTC, thanks Smiley
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February 21, 2014, 08:48:10 PM
 #41

lol annpaol
Your whole contribution to the forum is spamming your adresses everywhere and being butthurt when people disagree with your ass pulled predictions.
Now you want to discredit PMC to keep prices low, because you "predicted" the price would never reach 0.0018 BTC again.
You are obviously not interested in a discussion. You are just a insecure troll who wants to save his face.
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February 21, 2014, 08:51:07 PM
 #42

lol annpaol
Your whole contribution to the forum is spamming your adresses everywhere and being butthurt when people disagree with your ass pulled predictions.
Now you want to discredit PMC to keep prices low, because you "predicted" the price would never reach 0.0018 BTC again.
You are obviously not interested in a discussion. You are just a insecure troll who wants to save his face.


+1

Sour Grapes.  Kinda sad...

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February 21, 2014, 09:07:24 PM
 #43

That fact that you don't hear much about PMC is because the Premine community aren't hypers and pumpers. Because of the way PMC is, pumping it would be incredibly expensive and extremely difficult to do. There's no big hype because there aren't enough people who can afford to buy in and hype it. No instaminers with big piles of coins who will tell you it's "the next big thing".

Think of a few coins that have been very popular on the forums but haven't been hyped at all or raved about. I bet you can think of a few.

There's no hype because there's no pumpers and dumpers. The only dumpers are some of the early hoarders, and once they're bought out that's it. You can't instamine Premine. You can't throw tons of hashpower at it and get lots more coins. You'll just dilute the amount of coins everyone gets including yourself. You can't throw money at it to pump it, unless you have tens of BTC. If you do then a pump like that would push the price so high that it would be difficult for it to come down with the massive amount of exposure the coin would get.

Prices were hovering around at 0.0002 until someone came along with some BTC and started buying up Premine. It soared past 0.001 and reached 47th place on Coinmarketcap the day it was listed. It's now hovering around 0.0005. The price had to come down, but if you look at the historical prices over at Poloniex, then you can see after the big rise the price hasn't dipped back down to 0.0002.

If someone pushed it to 0.002, then it may settle at 0.001. The point is that Premine is too rare to for any Joe Bloggs to come and manipulate the price. Anyone who does needs a lot of money, and that means investors and big players. The harder they push the price, the harder it will be to come back down. They may very well set up floor values the coin will never see again.

This is all a matter of record. You can check Poloniex for yourselves. It would just take one exchange with big volume and one big buyer to make this coin so highly priced that you wish you got in now when you had the chance.

If nobody's talking about it, it's because they're too busy trying to make PMC the next big thing. Lots of development going on. So you don't like PMC because it's not a hyped pump and dump garbage coin? Then so be it. Don't say I didn't try to explain it to you.

If you read the Premine thread you'll see a lot of thinkers and planners. Exactly the kind of people you need to develop a coin for long term value.

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February 21, 2014, 09:43:08 PM
 #44

It just got dumped. lol

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February 21, 2014, 10:54:59 PM
 #45

It just got dumped. lol
PMC endured much bigger dumps so far.
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February 21, 2014, 11:27:46 PM
 #46

It just got dumped. lol
PMC endured much bigger dumps so far.

Yep. As long distribution increases, then the concept is holding up. Although saying that, a few people have caught on and are trying to buy up as much PMC as they can. I have mixed feelings about that, but I can't knock people for being opportunists.

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February 22, 2014, 12:40:17 AM
 #47

I don't understand the rationale for mining this coin for tx fees. I can't imagine it's anywhere close to profitable. So basically the coin is running on hype and charitable miners?

KNC - KingNcoin - rare, fair, pos only https://yobit.net/en/trade/KNC/BTC
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February 22, 2014, 01:22:40 AM
 #48

PMC reflects the value of all serious cryptocoins, but without inflation. PMC will find its place, no hype needed.
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February 22, 2014, 01:43:50 AM
 #49

I don't understand the rationale for mining this coin for tx fees. I can't imagine it's anywhere close to profitable. So basically the coin is running on hype and charitable miners?

Well, just point Your asics to PMC and see Yourself. I didn't do the math, since I don't got any asics. I assume mining PMC tx fees is more profitable than mining BTC.
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February 22, 2014, 01:59:38 AM
 #50

The problem here is that all the replies come from users involved in PMC. Not unbiased.I look constanly poloniex and today, after my post, many people are dumping.
If I was useful to someone please tip me.

BTC address 14biFENcmrG9xW7yaHyDFMcjnokrWuHwst

LTC address Lga7nqNYMcWYGpKzLFW6GVhGipkZeU7D3t

Go away, you greedy, incoherent little twerp.

BTC: 17mV6VCMnbYbrhJfsxCEZm9y3CL1qb6jFC
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February 22, 2014, 02:00:25 AM
 #51


You don't deserve a donation.


In fact someone donated me some LTC, thanks Smiley


And my penis is 11 feet long.

BTC: 17mV6VCMnbYbrhJfsxCEZm9y3CL1qb6jFC
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February 22, 2014, 02:16:16 AM
 #52

Please calm down, Xenopus. No need to give that troll a stage.
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February 22, 2014, 12:00:52 PM
 #53

Ahahahah people you are ridiculous. The dump is started and no one can stop it ahahhahhaah
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February 22, 2014, 12:14:29 PM
 #54

Ahahahah people you are ridiculous. The dump is started and no one can stop it ahahhahhaah

You sound like a petulant child who has no idea how cryptocurrency works.

Please do keep bumping the topic though. More exposure for the intelligent members of the community to see what PMC has to offer. I've seen countless intelligent posts on PMC from everyone except from you.

Keep it up. I'll be having the last laugh when you are conclusively proven wrong and PMC climbs its way up coinmarketcap.

BTC - 14kYyhhWZwSJFHAjNTtyhRVSu157nE92gF
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February 22, 2014, 12:26:24 PM
 #55

I think, this is a great coin with big potential.



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February 22, 2014, 03:22:34 PM
 #56

Ahahahah people you are ridiculous. The dump is started and no one can stop it ahahhahhaah

You sound like a petulant child who has no idea how cryptocurrency works.

Please do keep bumping the topic though. More exposure for the intelligent members of the community to see what PMC has to offer. I've seen countless intelligent posts on PMC from everyone except from you.

Keep it up. I'll be having the last laugh when you are conclusively proven wrong and PMC climbs its way up coinmarketcap.

You all should pay me for this promotion, no PMC thanks Tongue
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February 22, 2014, 04:02:34 PM
 #57


You all should pay me for this promotion, no PMC thanks Tongue

Go home and get your shine box.
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February 22, 2014, 04:11:22 PM
 #58

great coin... just asked for a few even after it was on exchanges so they could have sold those coins.... and after a day i looked and had 100 coins in total from a lot of people giving 5 or more.

This is a good community and one of the best coins from this last wave by far.

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February 22, 2014, 04:13:04 PM
 #59

Ahahahah people you are ridiculous. The dump is started and no one can stop it ahahhahhaah

You sound like a petulant child who has no idea how cryptocurrency works.

Please do keep bumping the topic though. More exposure for the intelligent members of the community to see what PMC has to offer. I've seen countless intelligent posts on PMC from everyone except from you.

Keep it up. I'll be having the last laugh when you are conclusively proven wrong and PMC climbs its way up coinmarketcap.

You all should pay me for this promotion, no PMC thanks Tongue

Anyone you pays you for your "insights" is rewarding mundanity.

great coin... just asked for a few even after it was on exchanges so they could have sold those coins.... and after a day i looked and had 100 coins in total from a lot of people giving 5 or more.

This is a good community and one of the best coins from this last wave by far.

Exactly. How many coins as valuable as PMC do you know that are still given to new members of the community? Even holding a couple of PMC could be worth your while, and someone may give them to you for free.

Imagine if someone gave you one or two Unobtanium before it took off.

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February 22, 2014, 05:06:46 PM
 #60

Ahahahah people you are ridiculous. The dump is started and no one can stop it ahahhahhaah

You sound like a petulant child who has no idea how cryptocurrency works.

Please do keep bumping the topic though. More exposure for the intelligent members of the community to see what PMC has to offer. I've seen countless intelligent posts on PMC from everyone except from you.

Keep it up. I'll be having the last laugh when you are conclusively proven wrong and PMC climbs its way up coinmarketcap.

You all should pay me for this promotion, no PMC thanks Tongue

PMC to you, don't worry no one would send you some.

I remember you annpaol, I donated you 50 or 100 PMC(don't remember your address) to make a giveaway but you hold these PMC and probably drop it in the market.

Not the guy useful to PMC cause...

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February 22, 2014, 07:04:31 PM
 #61

Oh look, PMC's value is going back up.

So much for your words of sage wisdom, annpaol. Anyone who followed your advice and dumped their PMC may have just lost out.

Let this be a lesson to anyone who follows the advise of someone who provides zero facts or evidence. Never sell your coins based on FUD. One of the golden rules of trading.

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February 23, 2014, 12:51:32 AM
 #62

PMC will go up and down and up and down for a long time.... seems to have a happy place @ roughly 0.0005 BTC... I have been having fun with only 50 PMC playing the market a little bit. I do have some stored on paper as well. I think some folks are waiting for the lows and are stockpiling as well and soon enough the gyrations in price should not be as wide ans will trend up...

Also a large exchange will cause even bigger fluctuations in the short run... hopefully also trending up...

Eventually there will be people who will wish they had not sold so low...


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February 23, 2014, 09:24:40 AM
 #63

I'm relatively new in crypto world, I followed it from 2 years but only 3 months ago I started to partecipate actively.

I become curious on PMC for the type of distribution, for the idea (look the future of bitcoin now with mining only tx fees) and for the fair people there.

Yeah yeah, still in PMC there are greedy people but this is the world.

So, I don't have thousand of PMC but don't want to lose this chance like the guy who bought a pizza for 10,000 BTC.

The future is strange and unpredictable but I hold my PMC and buy more if it's possible.

Remember that the best strategy for some altcoin is buy and hold and I'm going to make this with PMC.

Am I wrong, am I right...only in the future I'll know but I don't miss this for sure Wink

Print yOur PreMineCoin CaLenDar  PMC(φ) 16z7TSgoXRTepHFT1CEBXA3j5jWVQ2uADL  BTC 1AeMvtC9nhboL7fSMkyNykW864rEQWUjQC
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February 23, 2014, 10:36:34 AM
 #64

Ahahahah people you are ridiculous. The dump is started and no one can stop it ahahhahhaah

Yeah, come on, give me your cheap PMC. I will buy more.  Grin  Grin

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February 24, 2014, 02:34:29 PM
 #65

I don't understand the rationale for mining this coin for tx fees. I can't imagine it's anywhere close to profitable. So basically the coin is running on hype and charitable miners?


I'm throwing about 30Gh/s at PMC and have been so for 1 week.  I've mined 25.5 PMC in that time which would trade at Poloniex for 0.00969 BTC (at 0.00038).  I dunno if that's good or bad, but there it is.  Personally I think that in a month that 25.5 PMC is gonna be worth 3-4 times as much BTC. 

PMC - 15HQy3xkmZacctxXZp2hrAj6YxKYqNbU9D  PMP - PR6KSyvmRP8GkvopsCbqrzQ68FCv3yEC9L
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February 24, 2014, 02:43:51 PM
 #66

Do you already have requested a cryptsy listing?

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February 24, 2014, 02:48:01 PM
 #67

Do you already have requested a cryptsy listing?

Yes, here https://cryptsy.freshdesk.com/support/discussions/topics/4000000021

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February 24, 2014, 03:02:22 PM
 #68

I don't understand the rationale for mining this coin for tx fees. I can't imagine it's anywhere close to profitable. So basically the coin is running on hype and charitable miners?


Personally I think that in a month that 25.5 PMC is gonna be worth 3-4 times as much BTC. 

All depends on how many people think that PMC is a good concept. I think its like a store of value, since coins never go up or down. Those who have invested are in early, its towards the bottom of the first page on coinmarketcap still.

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February 24, 2014, 03:20:44 PM
 #69

I don't understand the rationale for mining this coin for tx fees. I can't imagine it's anywhere close to profitable. So basically the coin is running on hype and charitable miners?


I'm throwing about 30Gh/s at PMC and have been so for 1 week.  I've mined 25.5 PMC in that time which would trade at Poloniex for 0.00969 BTC (at 0.00038).  I dunno if that's good or bad, but there it is.  Personally I think that in a month that 25.5 PMC is gonna be worth 3-4 times as much BTC. 

This mining thing is very important !

Remember to all that PremineCoin aka PMC is mineable, also if only for transaction fees.

Print yOur PreMineCoin CaLenDar  PMC(φ) 16z7TSgoXRTepHFT1CEBXA3j5jWVQ2uADL  BTC 1AeMvtC9nhboL7fSMkyNykW864rEQWUjQC
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February 24, 2014, 04:02:19 PM
 #70

I don't understand the rationale for mining this coin for tx fees. I can't imagine it's anywhere close to profitable. So basically the coin is running on hype and charitable miners?


I'm throwing about 30Gh/s at PMC and have been so for 1 week.  I've mined 25.5 PMC in that time which would trade at Poloniex for 0.00969 BTC (at 0.00038).  I dunno if that's good or bad, but there it is.  Personally I think that in a month that 25.5 PMC is gonna be worth 3-4 times as much BTC. 

This mining thing is very important !

Remember to all that PremineCoin aka PMC is mineable, also if only for transaction fees.

In a way it actually simulates high difficulty and prevents anyone instamining PMC, so you can be sure your PMC won't devalue if a whale comes along to try and mine as much as they can. They'll just end up creating lots of empty blocks and get very little in the short term, and in the long term it wouldn't be very efficient for them as miners support the network and keep the txfees rolling in.

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February 24, 2014, 05:42:28 PM
 #71

0.0003BTC value of few satoshis is nearer Cheesy
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February 24, 2014, 06:18:34 PM
 #72

0.0003BTC value of few satoshis is nearer Cheesy

While I know you're trolling, I really wouldn't mind that happening. Hell, I'll take all 500k of them if that happens Cheesy
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