eMunie the only unique and interesting alt-coin out of all these sh*tcoins - page 4.

eCoinomist

member

Activity: 112

Merit: 10

Independent Analyst

Let me clarify the pre-mine and closed source accusations:
There will be EMU Foundation at the beginning, as stated in this latest update:
http://forum.emunie.com/threads/emunie-latest-technical-and-feature-set-ramblings-29th-june-2013.143/

The foundation will consist of several key members who contributed to the project, and not just the founder Fuserleer. The members of the Foundation will be voted by others and no one can just buy their way into the foundation without genuine contribution.

The Foundation will have a certain amount of reserve set at the beginning for these purposes:

giveaway to people
fund project development
bounties for various services
buffer the high initial interest rate due to rapid network growth (so early adopters will not gain huge unfair advantages like Bitcoin or all other altcoins so far)

All spending from this Foundation reserve will be reported publicly on a quarterly basis.

eMunie will be closed source at the begining because of these reasons:

agile deployment (the client will be constantly updated, improved until we find a nice balance where the network becomes stable), after this period, it will be open-source
stop copycat alt munies

Adano

member

Activity: 108

Merit: 10

Quote from: mr_random on July 07, 2013, 05:21:25 AM

No they dont state its clearly going to be open source. Read the discussions on the forum. Its likely to be closed source at least initially. The premine is definite and the creator wont budge on that.

It's only going to be closed sourced in the beginning and the reason is obvious: not to have many copy-paste coins competing with original e-munie

NickCoin

member

Activity: 115

Merit: 10

Quote from: mechs on July 07, 2013, 03:13:36 AM

Still, it's use of "interest" to early adopters is very ponzi-like and really will only harm the currency in the long-run.

I try to understand your logic of something having interest as being a Ponzi-scheme.

According to Wikipedia, ponzi scheme means only the early adopters get the benefit, while the laggards head off to lose. But my understanding of eMunie system is that everyone will get the benefits from interest, early adopters only get better interest when the network grows, but that doesn't hinder the laggards from gaining profits either.

And since there is no cap on how many EMu can be minted per year, nor total amount of EMU ever to exist, how can the late comers lose? if not out of their own stupidity?

On the other hand, Bitcoin, is definitely a true definition of ponzi-scheme, even it may lack some characteristics as pointed out by some economists.

Wolf0

member

Activity: 81

Merit: 1002

It was only the wind.

Primecoin looks pretty good. New PoW.

mr_random

legendary

Activity: 1344

Merit: 1001

Read the forum to learn about the premine. They call it preallocation.

mr_random

legendary

Activity: 1344

Merit: 1001

No they dont state its clearly going to be open source. Read the discussions on the forum. Its likely to be closed source at least initially. The premine is definite and the creator wont budge on that.

mechs

full member

Activity: 210

Merit: 100

They clearly state it is open-source on their forums. If it changes to close source, then it will be as dead as Ripple will be (even moreso without ripple's marketing). Also, where did you hear about a pre-mine?

mr_random

legendary

Activity: 1344

Merit: 1001

You're wrong actually, it is being premined by the EMU Foundation. It may also be closed source.

krasnyoktyabr

full member

Activity: 140

Merit: 100

Quote from: mechs on July 07, 2013, 03:13:36 AM

It really is ridicuous, a bunch of script-kiddies and wanna-bes just copying-pasting and calling themselves developers. Such an embarassment. The only alt-coins with any hope:
Litecoin: Added scrypt, the first to increase confirmation time, had first mover advantage to get critical mining mass.
PPCoin: The first Proof-of-work coin, though has not really caught on.
Novacoin: This copycat combined litecoin and PPCoin and it actually had a chance. Except the "developer" was a total scumbag, lied about pre-mining, bribed the exchanges and lost all credibility. Still trades at 0.35-0.4 NVC/BTC, though pretty illiquid.
eMunie: the most interesting new one, not yet released. Totally different codebase, not just a copy/paste hack job like most the others. Still, it's use of "interest" to early adopters is very ponzi-like and really will only harm the currency in the long-run. Looks though like it will not be "pre-mined" and have an open, pre-announced launch which is refreshing from most the other sh*tcoins.

Quite the judgmental individual.

PPcoin introduced proof of stake, not proof of work. Proof of work is the standard block subsidy.

Litecoin also wasn't the first coin to implement scrypt.

At least make a nice post without spelling errors and incorrect information when you're promoting something new.

mechs

full member

Activity: 210

Merit: 100

It really is ridicuous, a bunch of script-kiddies and wanna-bes just copying-pasting and calling themselves developers. Such an embarassment. The only alt-coins with any hope:
Litecoin: Added scrypt, the first to increase confirmation time, had first mover advantage to get critical mining mass.
PPCoin: The first Proof-of-work coin, though has not really caught on.
Novacoin: This copycat combined litecoin and PPCoin and it actually had a chance. Except the "developer" was a total scumbag, lied about pre-mining, bribed the exchanges and lost all credibility. Still trades at 0.35-0.4 NVC/BTC, though pretty illiquid.
eMunie: the most interesting new one, not yet released. Totally different codebase, not just a copy/paste hack job like most the others. Still, it's use of "interest" to early adopters is very ponzi-like and really will only harm the currency in the long-run. Looks though like it will not be "pre-mined" and have an open, pre-announced launch which is refreshing from most the other sh*tcoins.

Topic: eMunie the only unique and interesting alt-coin out of all these sh*tcoins - page 4. (Read 3745 times)