Topic: [ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept - page 64. (Read 382879 times)

That pmc2 idea sounds cool i think we should  try all we can with pmc1 though first

There are a few left I'd wager. Unfortunately there aren't any buy orders left for them to dump them on.

Well then...  I think we lost all the dumpers... most of them anyway.... time for a slow climb...
Not the worse thing that could happen....

I guess it is the early investors who just leached the giveaway and sold when they see value. Infinite returns.

Anyway, it will go to some better investors.

Seems like the multipool is becoming a trend. Other altcoins are doing it including the NXT.

Mine - dump - pump strategy xD

It's not the 20k bagholder who dumped, but someone clearly did. Two dumps took place, both dumps totalling around 6k coins. I'm willing to bet it was one of the early stakeholders.

Is he done dumping the coins yet?

I just don't get it. You must really have no clue if you're willing to dump Premine.

On the plus side, good luck to that 20k dumper. There isn't even a buy big enough to swallow it now.

I've been saying all along that hoarding PMC is pointless.

Very sad...

2014-03-16 18:48:59   Sell   0.0002   6.0583913   0.00121167
2014-03-16 18:48:59   Sell   0.00017   2   0.00034
2014-03-16 18:48:59   Sell   0.00016   218.5294375   0.03496471
2014-03-16 18:48:59   Sell   0.00015   471.70770466   0.07075615
2014-03-16 18:48:59   Sell   0.00015   3.0528   0.00045792
2014-03-16 18:48:59   Sell   0.00015   110   0.0165
2014-03-16 18:48:59   Sell   0.000132   500   0.066
2014-03-16 18:48:59   Sell   0.00013001   5.96600262   0.00077564
2014-03-16 18:48:59   Sell   0.00013   660   0.0858
2014-03-16 18:48:59   Sell   0.00012   1786.73609118   0.21440833
2014-03-16 18:20:16   Sell   0.0002   0.5   0.0001
2014-03-16 17:03:05   Sell   0.000155   10.22   0.0015841
2014-03-16 17:03:05   Sell   0.00015   27.79229534   0.00416884
2014-03-16 17:02:34   Sell   0.0002001   100   0.02001
2014-03-16 17:02:34   Sell   0.0002   3.93634999   0.00078726
2014-03-16 17:02:34   Sell   0.000192   730.39052083   0.14023497
2014-03-16 17:02:34   Sell   0.000188   273.36169999   0.05139199
2014-03-16 17:02:34   Sell   0.00018751   215.87   0.04047778
2014-03-16 17:02:34   Sell   0.0001875   345   0.0646875
2014-03-16 17:02:34   Sell   0.000187   152.09334354   0.02844145
2014-03-16 17:02:34   Sell   0.000186   4.83876344   0.00090000
2014-03-16 17:02:34   Sell   0.000186   2   0.000372
2014-03-16 17:02:34   Sell   0.0001855   3.1   0.00057505
2014-03-16 17:02:34   Sell   0.0001851   16.47519294   0.00304955
2014-03-16 17:02:34   Sell   0.000184   2.432838   0.00044764
2014-03-16 17:02:34   Sell   0.000182   2.83   0.00051506
2014-03-16 17:02:34   Sell   0.0001814   10   0.001814
2014-03-16 17:02:34   Sell   0.0001812   7   0.0012684
2014-03-16 17:02:34   Sell   0.0001811   28.56460519   0.00517304
2014-03-16 17:02:34   Sell   0.000181   11.52535911   0.00208608
2014-03-16 17:02:34   Sell   0.0001802   291.36570477   0.05250409
2014-03-16 17:02:34   Sell   0.00018   135.8959946   0.02446127
2014-03-16 17:02:34   Sell   0.000176   6.0000578   0.00105601
2014-03-16 17:02:34   Sell   0.000173   16.53184971   0.00286000
2014-03-16 17:02:34   Sell   0.000172   11   0.001892
2014-03-16 17:02:34   Sell   0.000171   26.08953216   0.00446130
2014-03-16 16:03:19   Sell   0.000193   1.8249   0.00035220
2014-03-16 15:22:11   Buy   0.000274   4.48375913   0.00122855
2014-03-16 15:22:11   Buy   0.000274   5.51624087   0.00151144
2014-03-16 15:08:06   Sell   0.000188   142.50830001   0.02679156
2014-03-16 14:15:00   Sell   0.000192   2.8   0.0005376
2014-03-16 14:15:00   Sell   0.0001914   22.1   0.00422994
2014-03-16 14:15:00   Sell   0.0001911   2.84395604   0.00054347
2014-03-16 14:15:00   Sell   0.000191   10.22   0.00195202
2014-03-16 14:15:00   Sell   0.00019091   6.2   0.00118364
2014-03-16 14:15:00   Sell   0.0001905   4.09   0.00077914
2014-03-16 14:15:00   Sell   0.0001899   4.7432   0.00090073
2014-03-16 14:15:00   Sell   0.000188   50   0.0094
2014-03-16 14:15:00   Sell   0.0001877   3.2983291   0.00061909
2014-03-16 14:15:00   Sell   0.000187   298.44965646   0.05581008
2014-03-16 14:14:29   Sell   0.0001922   3   0.0005766
2014-03-16 14:14:21   Sell   0.0001924   2.4832751   0.00047778
2014-03-16 14:14:14   Sell   0.000193   31.9021189   0.00615710
2014-03-16 14:14:08   Sell   0.00019499   33.2   0.00647366
2014-03-16 14:13:53   Sell   0.000195   55.0233   0.01072954
2014-03-16 14:13:40   Sell   0.00019599   15.09383132   0.00295824
2014-03-16 14:12:56   Sell   0.000196   3.9832   0.00078070
2014-03-16 14:12:52   Sell   0.000197   24.61593908   0.00484933
2014-03-16 14:12:15   Sell   0.000199   100   0.0199
2014-03-16 14:12:10   Sell   0.0002   12.31628378   0.00246325
2014-03-16 14:11:47   Sell   0.00020001   14.92832   0.00298581
2014-03-16 14:11:37   Sell   0.00020002   5   0.0010001
2014-03-16 14:11:25   Sell   0.00020004   22.39043   0.00447898
2014-03-16 14:10:35   Sell   0.00020005   31.29   0.00625956
2014-03-16 14:10:35   Sell   0.00020005   13.76900774   0.00275448
2014-03-16 14:10:18   Sell   0.0002005   22.2939   0.00446992
2014-03-16 14:10:11   Sell   0.0002006   123   0.0246738
2014-03-16 14:10:08   Sell   0.00021   9.9284375   0.00208497
2014-03-16 14:10:05   Sell   0.000211   10.22   0.00215642
2014-03-16 14:09:58   Sell   0.00022   15   0.0033

So far Mint and Black coin are doing it.

I would be in total favor of this. So basically it's like a multipool, but instead of converting it to BTC, it would convert it into PMC? That would be pretty great. PMC could be scrypt mined.

What do we need to do to make this happen?

I think we should try the multi-pool idea first.

"From the Blackcoin blog:
As you all know Proof of Work has ended more then two weeks ago. Mining BlackCoins directly is not possible anymore, and the only way to get BlackCoins at this moment is by buying them.

This leaves us with a whole community of miners that would love to get into BlackCoin but can’t. As a community we came together to solve this problem with an innovative idea not yet seen in the altcoin world:

A multipool designed specifically to mine altcoins and payout in BlackCoin. A quote from the developer of the multi pool:
"The multipool works in a very simple way, you point your miners to our server and we make sure you get paid as much as possible from your precious hashes. When you mine with us, we trade the altcoins we mine into BTC, then buy BC at the best possible price, this creates buy pressure for BC. This translates into one thing, BCs will be worth more. Simple as that." -RadioStatic

This means that, as long as the multipool has any hashrate pointed to it, the miners will create buying pressure on the market. Due to the low interest and thus inflation this will directly translate in the price of BlackCoin rising. What you mine today, will be worth more tomorrow! The more hashrate pointed to the pool, the faster BlackCoin’s value will rise.
BCMultiPool.com will start their operations this coming Friday, although it will be in an open beta. We highly recommend you to add back-up pools to your configurations if anything goes a-miss during the beta period. Also, every BC address and IP will be limited to 10MH/s for the beta period, so the servers and the backend can be tested.

Servers will be hosted in europe at first, but there are plans to open at least 2 more in servers: one on the east-coast of the US and one on the west-coast.
If you want to know more, head over to http://bcmultipool.com"

This is just an idea that's being thrown around. In my opinion the fork should run alongside PMC, and should be used to inflate the total amount of coins 5-fold for this new coin. This would give every holder or investor in PMC the ability to also have PremiumCoins. It could be treated sort of like an IPO, but using PMC as the investment coin. So not only would you get PMC, which will still functional as it always does, but you can copy the wallet over to PremiumCoin and receive a stake in that, too. So what you would do is announce the new coin as an IPO, and instead of paying the dev, you would buy PMC. This PMC then becomes your stake in PremiumCoin as well, as you can copy the wallet over to the new coin. After the fork it will be impossible to do this, so that would be your window to buy PMC before the deadline block.

For me, there should be 2.5 million coins at least. The block rewards should be quite low. I'd also like to see the coin be Scrypt-based. Not SHA-256.

The alternative is to make the coin 21 million total supply, however you would then have to find a way to make your PMC stake increase at least 21 times, leaving the other 10.5 million coins available to miners. Not sure how that would work.

Again, these are just ideas.

One thing i know, their site lags so much. I think it is nice to buy any coin on demand without creating a sudden movement in the market. I like their website.

I have not tried it yet though.

Email received little ago:

"We have begun promoting your coin  www.thecryptocurrencystore.com/alt-coins   
 
Additional advertisements and promotions will be announced according to your donation. Thank you and please stay in touch!
 
our premine wallet address: 1Cq3uC1iKFCgG9pYFsBV6eGFT4WNd3TsmF"

I don't know in what consists their promotion, so, if there someone who know this site leave a comment, thanks.

What is the specification of the new fork?

No no. You wouldn't have to lose PMC or convert it. Because the new coin would be forked from PMC, you would simply create a copy of your wallet. You keep your PMC, but will also turn into Premium Coins, so you would have both.

I'm not really in favour of any sort of centralisation.

We are just getting started.... lets not give up yet.... however, using PMC as a seed to some sort of spin-off coin like protoshares is to bitshares is interesting.... in fact this could be announced and bring interest to PMC currently...

This PMC2 could exist at the same time as PMC but have some sort of innovation that does not exist...

I am going to write a 'Brief History of Crypto' and post it here.... and I really do have an innovation I will introduce at the end...
A sort of IPO coin that in addition to being a 'currency' is actual shares in something.... That Dinar-IQD guy gave me a strange idea...

One downside of my idea is a sort of centralization that requires trust/transparency that may be hard to attain...

In short this coin would be sold on an exchange for BTC ( Like IDQ is attempting to do now ) that is then invested in places like 'Just-Dice', 'Rapidballs' and 'mcxFEE' and whatever we can find... then it is a currency as any other however it can be traded back in for BTC+interest after a one year vesting period, or if not vested just the BTC only back... the vesting period could be 365 days from the birth of the coin, each and every year....Almost like shares at cryptostocks but you get to keep them..... this is an idea that needs juggling....

The plus side is this currency would be 'backed by BTC' the downside is that it would have to be managed...

I do not want PMC to be destroyed or converted...  but I would like PMC holders an easy way in.... in the short term people would buy up PMC to get an early share in....

Let me work out my 'history'.

So, PMC would function as a premine for this new coin? Interesting.

I presume it would be mineable, but with block rewards that low does it really make sense? It'd be a long time before the miners catch up with holders, and that can put off people badly.

Besides, it wouldn't be possible (from my knowledge) to buy in on PMC later on and have it reflected on PMC² - that means a short spike in value of PMC before the launch and a total sell-out then.

If we go with launching a new coin, I'd rather make it proof-of-PMC-burn (just set up a black hole and reward people accordingly). Then we might be able to keep the value of PMC while building it up on PMC².

I wouldn't have anything against forking PMC, and having two entirely separate coins. Anyone who is in on PMC before the fork can simply buy in PMC and copy their wallet.dat to the new coin. That would be the buy in phase of the new coin.

If anything it would also boost PMC's profile, as PMC would become a legitimate IPO buy in for the new coin. Give people enough time to buy their PMC, and then they can copy their wallet over to the new coin. They'll both have PMC and this new coin. Original holders will benefit, and so will buyers of PMC before the new coin is released.

Rather than overly complicate this, simply make the new coin a 2.5 million cap, and let people buy in PMC before the coin is released. This would make anyone's PMC 5 times smaller than the total cap, which would be quite a fair proportion. Let the rest of the coin simply be mineable with low block rewards. Perhaps 1 coin per block with no halving.

At the end of the day, you will have two rare coins in your possession. PMC's price would rise, more people would hold the coin, and it would be the launching platform of Premium Coin.

I quite like the idea. Technically not difficult, and would really be a huge deal.

Premine and Premium, side by side.

Price          PMC           BTC
0.0026712   20213   53.9929656

Amazing effort.... but we will win....