ANN-EMC2 Einsteinium FUNDING THE FUTURE WITH THE FUTURE OF CURRENCY KMD-dPoW

[einsteinium]

To celebrate all the good news, I'm doing a small EMC2 giveaway on our Sub-Reddit.

Just post your wallet code here:
http://www.reddit.com/r/einsteinium/comments/24hl1u/im_in_a_giving_mood_post_your_wallet_code_and_get/

Also, make sure to subscribe if you would like to stay updated.

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[poiuty]

send 3497 EMC2
2546988e2b9044fbf97f1aad6aca4922daf4d943388add4fe89bf8f144ae9503

[bobq]

That's really an amazing community ! Imagine how many wonderful things we'll be able to do as this wonderful community will grow in size in time !

[Bobsurplus]

Woooow... All this crazy news!! EMC2 is sure to explode! VOS, Experiment.com Reddit AMA.. I like how things are unwrapping. I'll be donating some coins later tonight. I just got in from a few days on vacation and its time to get up to date!

 

[counter]

This thread seems to be the main spot that a discussion about Einsteinium is going on so far.

I think we need to spread the message to people that don't visit this page Tongue

We should work on growing an IRC chat:

http://webchat.freenode.net/?channels=#einsteinium

Also, let's try to get the Reddit page over 25 subscribers:

http://www.reddit.com/r/einsteinium/

Woo!

I tend to agree the information is not as easy to find as I'd like.  Good luck with your efforts to get the word out to others.

[ahumanbeingx]

Just to clarify our new IRC channel for official discussion will take place at #einsteiniumfoundation on Freenode IRC.

Here is shortened URL link that will take you directly to our channel (KiwiiIRC)

Sorry for the confusion, this will be our final channel as we have full control there.

IRC Chat
http://bit.ly/QZMqMD

[SuperSta]

Anyone looking into any altcoin accepting websites taking emc2 as a form of currency? That would surely be big news, if you guys can manage that.

[etoque]

Difficulty have just gainup,14 to 24 now  

edit: back to 15,mine more coin

[praxiscat]

This is for clarification so everybody knows what is going on with the fundraiser if the experiment goal does not get met.  

If the experiment goal is not met by the deadline, there is no reason to be concerned. The epoch 2 winner will still get the funding. So rest assured keep donating!

We have already discussed with mend therapeutics that all funds being raised through digital currency will be donated towards their research on affordable diabetes drugs. This includes both the epoch 2 funding award our community voted on, as well as anything raised during the fundraising cycle.

The experiment goal would be wonderful to meet within the deadline, but we want to make clear to anyone who was concerned looking at where we are now. The goal is the goal, both us, mend and experiment are shooting for this to be met within the deadline.  Every coin counts!

We aim to be transparent on these matters now and into the future.

[Bobsurplus]

Anyone looking into any altcoin accepting websites taking emc2 as a form of currency? That would surely be big news, if you guys can manage that.

I am and have 2 retailers wanting to take EMC2 as payment for products. The problem is: were missing a merchant processor. As soon as moolah gets up and running I expect there to be a few places taking emc2, and just incase moolah doesn't come through we've got one more option on the back burner.

[Varvarin]

Send some other coins too to keep EMC2 from selling and buying instead.

[einsteinium]

Send some other coins too to keep EMC2 from selling and buying instead.

Yes, everyone should keep in mind that were taking multiple digital currencies for this project.

We just started a new thread here : https://bitcointalk.org/index.php?topic=593630.msg6514785#msg6514785 so everyone can sees and gets in on the action.

If you already donated then I urge you to post on that thread what coin you donated and how much. If you wish you can just say that you donated too, you don't need to disclose the donation amount.

We know you'll all come out in force for this one!

[Bobsurplus]

Send some other coins too to keep EMC2 from selling and buying instead.

I already donated EMC2 and BTC! And will continue to donate more through the next two days.

[Armis]

This is for clarification so everybody knows what is going on with the fundraiser if the experiment goal does not get met.  

If the experiment goal is not met by the deadline, there is no reason to be concerned. The epoch 2 winner will still get the funding. So rest assured keep donating!

We have already discussed with mend therapeutics that all funds being raised through digital currency will be donated towards their research on affordable diabetes drugs. This includes both the epoch 2 funding award our community voted on, as well as anything raised during the fundraising cycle.

The experiment goal would be wonderful to meet within the deadline, but we want to make clear to anyone who was concerned looking at where we are now. The goal is the goal, both us, mend and experiment are shooting for this to be met within the deadline.  Every coin counts!

We aim to be transparent on these matters now and into the future.

As structured and implemented the plan creates conflicting interests.

If you want the cryptocurrency (CC) fund the non-profit (NP) the two should not be put in a position where they overlap or compete for attention.

My understanding of how the CC was to fund the NP was essentially via a 2% mining tax of sorts, and from that fund the grants would be funded.  In such a case, there is no conflict because there is no overlap.  However, if the NP desires to raise funds via the CC over and above the way indicated, interests begin to compete.

Here are some conflicting interests:

1)  Currency Conflict - Grant should be paid in EMC2; if provide a grant in USD, CAD or anything other than EMC2 you decreased the value of the CC from the very start. If the recipient wants to dump it (cash the check) it's up to them. if so it will be immediately reflected in the market as a dip instead of a permanent market depression.

2)  Liquidity Conflict - Grant should be from available funds; if only X EMC2 is available, yet the 'goal' for a particular project is 10X EMC2, the project goal should not impact the extent of the original funding plan otherwise the likely way it will be gathered via CC is accepting more CC donations to immediately dump for cash (btc, USD, CAD, etc).  Protracted cash-outs result in a strangulation of the CC   If the specific purpose of the donation is to cash it out, ask for the end purpose currency or make the request of all CCs (not just EMC2) in this way the CC damage is mitigated.  

3)  Attention Conflict- At this point in the fundraiser the focal subject is the specific project funded by the CC, not the health of the CC funding the project and future projects.   The cash-cow is ill, it needs to recuperate, you've got to stop milking it for a while.

[einsteinium]

As structured and implemented the plan creates conflicting interests.

If you want the cryptocurrency (CC) fund the non-profit (NP) the two should not be put in a position where they overlap or compete for attention.

The two cannot be in competition, they are both an integral part of this project. One could not exist without the other. They are two sides of the same coin.

My understanding of how the CC was to fund the NP was essentially via a 2% mining tax of sorts, and from that fund the grants would be funded.  In such a case, there is no conflict because there is no overlap.  However, if the NP desires to raise funds via the CC over and above the way indicated, interests begin to compete.

Yes, as stated in the OP and reiterated over the past two months, 2% of each mined block goes to a central fund, then the community decides what science project to sponsor at the end of each month.

Here are some conflicting interests:

1)  Currency Conflict - Grant should be paid in EMC2; if provide a grant in USD, CAD or anything other than EMC2 you decreased the value of the CC from the very start. If the recipient wants to dump it (cash the check) it's up to them. if so it will be immediate and reflected in the market as a dip instead of a permanent market depression.

That is impossible for the same reason bitcoin grants are impossible in the currency technological and economical situation. One cannot buy real world assets with bitcoin (beyond a small and growing network of companies that have little to do with science related elements) thus they cannot buy with EMC2. Beyond this, those major retailers you see accepting bitcoin, they don't store it, they convert it to USD, because USD is a globally accepted currency that can provide more than fractured services. It can do that because it is a globally recognized currency endorsed by the U.S. Government.

We always suggest to and encourage our grant winners to accept it in EMC2 if not the total sum at least some partial amount. However, until the social, economic and technological impairments are removed and CC are accepted and recognized in important markets not only in small ones, we are forced by need to provide it in USD.

2)  Liquidity Conflict - Grant should be from available funds; if only X EMC2 is available, yet the 'goal' for a particular project is 10X EMC2, the project goal should not impact the extent of the original funding plan otherwise the likely way it will be gathered via CC is accepting more CC donations to immediately dump for cash (btc, USD, CAD, etc).  Protracted cash-outs result in a strangulation of the CC   If the specific purpose of the donation is to cash it out, ask for the end purpose currency or make the request of all CCs (not just EMC2) in this way the CC damage is mitigated.  

Grants always come from available funds, the available funds are represented by the total amount of coins mined into existence, be it EMC2/LTC/DOGE/BTC. What you're describing is the basic mechanism of profit in the CC scene. It's not related to Einsteinium in any way, it's related to the whole digital currency scene everyone here is part of.

3)  Attention Conflict- At this point in the fundraiser the focal subject is the specific project funded by the CC, not the health of the CC funding the project and future projects.   The cash-cow is ill, it needs to recuperate you've got to stop milking it for a while.

This does not make sense, the coin and the foundation are the same part of a bigger structure, they are mutually dependent.

It should also be noted that fundraisers are critical to marketing and the very concept behind the Einsteinium foundation.

Edit: Here's a short update, CoinJoint wrote an article about us! Show them your appreciation by reading it and/or sharing it. http://coinjoint.info/einsteiniums-second-epoch-funds-diabetic-wound-treatment/

[Bobsurplus]

http://coinjoint.info/einsteiniums-second-epoch-funds-diabetic-wound-treatment/

[Armis]

Here are some conflicting interests:

1)  Currency Conflict - Grant should be paid in EMC2; if provide a grant in USD, CAD or anything other than EMC2 you decreased the value of the CC from the very start. If the recipient wants to dump it (cash the check) it's up to them. if so it will be immediate and reflected in the market as a dip instead of a permanent market depression.

That is impossible for the same reason bitcoin grants are impossible in the currency technological and economical situation. One cannot buy real world assets with bitcoin (beyond a small and growing network of companies that have little to do with science related elements) thus they cannot buy with EMC2. Beyond this, those major retailers you see accepting bitcoin, they don't store it, they convert it to USD, because USD is a globally accepted currency that can provide more than fractured services. It can do that because it is a globally recognized currency endorsed by the U.S. Government.

We always suggest to and encourage our grant winners to accept it in EMC2 if not the total sum at least some partial amount. However, until the social, economic and technological impairments are removed and CC are accepted and recognized in important markets not only in small ones, we are forced by need to provide it in USD.

See statement in red.

As for the companies like Tiger and Overstock, they are facilitators of sorts they immediately convert BTC to USD however the people (Coinbase) they sell the BTC to  hold the BTC for others who eventually want to buy the BTC -- that's the good ending.

You have highlighted the conflicting interests by solving a perceived problem for the recipient of the award at the expense of the CC.  The NP isn't going to give the recipient physical cash is it, no you are more likely to write a check, a check that the receiver must negotiate (process) in order to get the cash (USD, CAD, EUR, or visa/MC card).  To collect EMC2, convert to BTC (by dumping EMC2), convert to CAD (by dumping BTC), then exchange for USD (by dumping CAD) is very costly.  Not just in fees and time by in the devaluation of the dumped currencies.

There are ways for the recipient to receive Paypal cash, Visa/MC debit card, or a check for his or her EMC2, as an Einstein award winner they could figure it out, but you could also offer to vet such resources.   

If you give someone a check they get to use the funds as they wish, if you give them a gift card they use it within the limits of the card (store GC or visa type card) neverthe less, it's for them to figure out how to Well if the end purpose is to receive cash here is a solution.  Give them the EMC2 then provide a vehicle for them to cash the EMC2. 

The conflicting interest is the NP bending over backwards for the project, not for the CC funding the project.  It's all well and fine to deliver a perfect meal for first class passengers, but the higher priority is fuel for the plane.   

Figure out how to dump responsibly, when the market is at highs not when they are at lows.

2)  Liquidity Conflict - Grant should be from available funds; if only X EMC2 is available, yet the 'goal' for a particular project is 10X EMC2, the project goal should not impact the extent of the original funding plan otherwise the likely way it will be gathered via CC is accepting more CC donations to immediately dump for cash (btc, USD, CAD, etc).  Protracted cash-outs result in a strangulation of the CC   If the specific purpose of the donation is to cash it out, ask for the end purpose currency or make the request of all CCs (not just EMC2) in this way the CC damage is mitigated.  

Grants always come from available funds, the available funds are represented by the total amount of coins mined into existence, be it EMC2/LTC/DOGE/BTC. What you're describing is the basic mechanism of profit in the CC scene. It's not related to Einsteinium in any way, it's related to the whole digital currency scene everyone here is part of.

There's an ongoing fundraiser, requesting funds over and above that which is already set aside for grants, apparently it is that aspect of the fundraising that is causing the prolonged market depression.  If you decide to put more resources into a project than the fund can support, then see the CC starting to suffer, that is the time to provide critical care to the CC, not demand more out of it.

Remember the CC is suppose to fund the projects, and the pumps (marketing) are supposed to help fund the CC; given that the press release (magic memo) probably didn't provide the anticipated bounce all NP dumps/cash-outs should cease.

3)  Attention Conflict- At this point in the fundraiser the focal subject is the specific project funded by the CC, not the health of the CC funding the project and future projects.   The cash-cow is ill, it needs to recuperate you've got to stop milking it for a while.

This does not make sense, the coin and the foundation are the same part of a bigger structure, they are mutually dependent.

It should also be noted that fundraisers are critical to marketing and the very concept behind the Einsteinium foundation.

In whatever way you departmentalize the foundation, if the foundation is the body, the CC would be the heart and the individual projects would be the receptors that are filled with the life blood (EMC2) provided by the CC.   When the CC is weak it should rest not be pumped harder.

[Bobsurplus]

@armis.

Speaking personally here..

You don't know what you're talking about! First of all, both donations were made by selling the coins to the team at higher then market value, causing no dumping. Were all strong believers of our coin and would never dump and hurt the coin!!!

Second, I don't see any conflict of interest, I'm a coin holder, one of the largest might I add and I see no issues with running a fundraiser, asking for help, or supporting a cause.

I for one am proud of the way the team has been moving along, there's always something new happening and I'm never disappointed.

[QuadraQ]

When will a new wallet that includes a fix for the OpenSSL heartbleed bug be available?

[praxiscat]

When will a new wallet that includes a fix for the OpenSSL heartbleed bug be available?

The function where the security vulnerability is, is not utilized by the EMC2 wallet. Our developer already evaluated this. (This is not to say there won't be a new wallet in the future.)