Fair Profit for Coin Founders - page 6.

Vlad2Vlad

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Quote from: eCoinomist on July 09, 2013, 02:17:58 AM

@Vlad2Vlad, honestly you should check out emunie, you sound like exactly what this community is all about.

I've talked to the founder Fuserleer last month just exactly what your OP was describing, and while there is no official announcement yet, I'm very sure the eMunie Foundation will work similar to how you described as a fair premine system, though it will be no where close to 25% you suggested, it will just be a tiny tiny cut from all EMU minted on a continuous basis.

That way founding members have vested interest to keep pushing things forward constantly and make the currency a success, because if it's not, they will receive little or nothing.

Interesting. That's exactly want I'm saying - it's the best way to pay the founders, keep them in the game enough to care about making the coin more valuable.

What a strange name for a coin though. A Munie is a municipal bond which is the riskiest government bond of them all. Odd.

Wolf0

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It was only the wind.

Quote from: Online24o0n on July 09, 2013, 01:44:03 AM

Quote from: Wolf0 on July 09, 2013, 01:38:18 AM

Quote from: Online24o0n on July 09, 2013, 01:33:49 AM

Quote from: truelitecoin on July 09, 2013, 01:30:33 AM

When I see premine, I immediately think scamcoin.

So, you think BTC and LTC are scamcoins?

BTC and LTC weren't premined, you moron.

https://bitcointalksearch.org/topic/ann-litecoin-a-lite-version-of-bitcoin-launched-47417 - "Litecoin will come with 150 premined coins:"
-that we know of.

Again, do some reading before calling people "morons".

Wow, the genesis block was premined! Oh, noes! Oh, and two blocks to make sure that the network worked. That's not a premine, that's a fucking test. Get your head out of your ass.

freedomno1

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Learning the troll avoidance button :)

Well as long as one is aware that 95% of economists tend to be wrong at any one time your a little bit ahead
I also laugh at the people who think it won't succeed but with the all the BS articles spreading around the internet cannot blame those who look at the surface and it will be their loss.
Unless your a Nouriel Roubini though would not be able to say we can see the future buts that speculation

eCoinomist

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Independent Analyst

@Vlad2Vlad, honestly you should check out emunie, you sound like exactly what this community is all about.

I've talked to the founder Fuserleer last month just exactly what your OP was describing, and while there is no official announcement yet, I'm very sure the eMunie Foundation will work similar to how you described as a fair premine system, though it will be no where close to 25% you suggested, it will just be a tiny tiny cut from all EMU minted on a continuous basis.

That way founding members have vested interest to keep pushing things forward constantly and make the currency a success, because if it's not, they will receive little or nothing.

Vlad2Vlad

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Quote from: Vivisector999 on July 09, 2013, 02:11:05 AM

OP = Original Post. IE the one you made to start this thread.

Just wondering. Just from your wording about certain things. Are you a programmer? Or do you have much programming experience? Or are you thinking about hiring someone to create the coin for you?

Since you are looking for innovation for your coin. What ways are you things about innovating the coin? Are you planning on doing more then changing the name of Litecoin to your name?? If that's all your doing, how much do you believe you should get for developing the coin? Or are you talking more from the perspective of working/developing the coin to be better accepted in the Fait/banking world as a payment option?

The reason your getting so much negativity is until you can show your different from the 99% of other developers, your categorized in the same group as the rest of them. Many/most don't do enough to not deserve the answer that is leading in your poll.

Since it's your coin, the ball is really in your court. Pay yourself as much or as little as you want. Premine it as a developer fund if you feel like. If you prove your worth it, people will put their trust in you and mine for your coin.

I'm an economist, so I'm different from 99% of the current developers.

I have only known about crypto-coins for 3 months now and I'm blown away. People don't realize what they have here.

Bitcoin is just an infant and its gonna grow up faster than the dot com boom. All laugh at the Bitcoin ETF application and the pros think they'll never get approved by the US govt but I'm 100% certain they will, and that will change everything.

That will be phase 2 - alt coin hyper drive. That will happen next year. I want to get my own coin launched before that happens cause at that point there's gonna be over 300 coins on the market and dozens of new ones per week.

This is the final days if you wanna get noticed but I can't program and I'm low on money since I'm not working a regular job right now.

But I want to launch a great coin, and that won't be cheap or easy.

Vivisector999

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OP = Original Post. IE the one you made to start this thread.

Just wondering. Just from your wording about certain things. Are you a programmer? Or do you have much programming experience? Or are you thinking about hiring someone to create the coin for you?

Since you are looking for innovation for your coin. What ways are you things about innovating the coin? Are you planning on doing more then changing the name of Litecoin to your name?? If that's all your doing, how much do you believe you should get for developing the coin? Or are you talking more from the perspective of working/developing the coin to be better accepted in the Fait/banking world as a payment option?

The reason your getting so much negativity is until you can show your different from the 99% of other developers, your categorized in the same group as the rest of them. Many/most don't do enough to not deserve the answer that is leading in your poll.

Since it's your coin, the ball is really in your court. Pay yourself as much or as little as you want. Premine it as a developer fund if you feel like. If you prove your worth it, people will put their trust in you and mine for your coin.

Vlad2Vlad

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Quote from: Brunic on July 09, 2013, 01:56:21 AM

Quote from: Vlad2Vlad on July 09, 2013, 01:40:41 AM

Quote from: truelitecoin on July 09, 2013, 01:30:33 AM

When I see premine, I immediately think scamcoin.

I agree but it doesn't have to be that way. A premine can be ok, but I have to say that's the easiest way to do a pump and dump.

You have your answer to your own poll. Every alt-coin is worth crap until proven otherwise. It's nothing against the developer, it's just that premining them just lower even more their crappy value.

Agreed but that doesn't answer the poll.

What is a fair way to pay the developer of a new coin.

My idea was a preset % of all mined coins - be it 5% or 25%. That way his pay is gradual and he will have the incentive to work to make the coin more popular and more valuable.

But it seems few agree with this protocol. Most want no payouts of any kind and that's silly. We would have no bill gates or Steve Jobs if there was no incentive to get rich. There has to be a fair and happy medium.

Capitalism and the promise of large profits will bring about the biggest and best coins we've ever seen. Without those potential profits we'll keep getting the same crap coins with basically a name change.

Brunic

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Quote from: Vlad2Vlad on July 09, 2013, 01:40:41 AM

Quote from: truelitecoin on July 09, 2013, 01:30:33 AM

When I see premine, I immediately think scamcoin.

I agree but it doesn't have to be that way. A premine can be ok, but I have to say that's the easiest way to do a pump and dump.

You have your answer to your own poll. Every alt-coin is worth crap until proven otherwise. It's nothing against the developer, it's just that premining them just lower even more their crappy value.

truelitecoin

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Quote from: Online24o0n on July 09, 2013, 01:33:49 AM

Quote from: truelitecoin on July 09, 2013, 01:30:33 AM

When I see premine, I immediately think scamcoin.

So, you think BTC and LTC are scamcoins?

Maybe I should say when I see a large premine, my initial thoughts are it is a scamcoin.
A large premine is an indicator of a scam coin, but doesn't automatically make it one.

"Litecoin had two blocks premined, one more than the minimum single genesis block needed to start a block chain."
Source: https://en.bitcoin.it/wiki/Litecoin#.28Slight.29_Premining

If the statement above is true, then all coins would need to be premined.

Vivisector999

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Ok, good to hear. And yeah I doubt that wallet will ever move

Vlad2Vlad

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Quote from: DeathAndTaxes on July 09, 2013, 01:50:20 AM

Quote from: Vivisector999 on July 09, 2013, 01:44:15 AM

Pretty sure I read that Satoshi pre-mined 800,000 Bitcoins. They are still sitting in the same wallet. I know a few people are watching that wallet to see if any ever get spent so they can try to figure out who he really is.

You read wrong. Maybe Satoshi MINED (as in post genesis block) x,000 coins but there was no premine in Bitcoin.

You have over 10,000 posts, the most I've ever seen on this forum. I'm gonna say you're the expert and announce your answer the correct one.

Thanks.

DeathAndTaxes

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Gerald Davis

Quote from: Vivisector999 on July 09, 2013, 01:44:15 AM

Pretty sure I read that Satoshi pre-mined 800,000 Bitcoins. They are still sitting in the same wallet. I know a few people are watching that wallet to see if any ever get spent so they can try to figure out who he really is.

You read wrong. Maybe Satoshi MINED (as in post genesis block) x,000 coins but there was no premine in Bitcoin.

Vlad2Vlad

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Quote from: Vivisector999 on July 09, 2013, 01:44:15 AM

Pretty sure I read that Satoshi pre-mined 800,000 Bitcoins. They are still sitting in the same wallet. I know a few people are watching that wallet to see if any ever get spent so they can try to figure out who he really is.

He's not gonna spend it cause he's now a tied up loose end.

Online24o0n

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"Ignorance never settles a question."

Quote from: Vivisector999 on July 09, 2013, 01:44:15 AM

Pretty sure I read that Satoshi pre-mined 800,000 Bitcoins. They are still sitting in the same wallet. I know a few people are watching that wallet to see if any ever get spent so they can try to figure out who he really is.

Nice*

Vlad2Vlad

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Quote from: Vivisector999 on July 09, 2013, 01:37:33 AM

Quote from: Online24o0n on July 09, 2013, 01:23:48 AM

Quote from: Vivisector999 on July 09, 2013, 01:22:36 AM

Wow, got a lot to say about it hu...... Personally I could care less about premine, I just dont care, as long as network and devs show they are truly behind its success, plain and simple.

I was just trying to show the OP (Who in the last 2-3 days has decided he was coming out with Catholic coin, Charity coin, Santa Coin, "please name me a popular sounding"coin) that he seems more worried about what the name is then the programming behind the coin. Which to me looks like a huge sign that he is going to change 1-2 parameters from Litecoin, if that. He might even be one of the latest developers that forgot to even change the name in the read me files to not say Litecoin. Then he seems like he is ticked we don't want to pay him for all the hard work and developing.

If he came showing innovation or some fresh ideas, I would be glad to give him the thumbs up on getting something for his troubles.

And nope we don't really "Need" more coins to come out just because. We already seem to get 10 new ones a day, most will fail within a few weeks, and as miners keep getting more and more spread out, it will make it a lot easier for someone to come 51% piles of coins out of existence. Already looking at Coinchoose, I see a few network hashrates that could be 51% attacked by someone with dual GPU's. That's not good, it's scary.

You got me wrong. My main focus was a polular coin because i saw if as a good way to bring good value long term. Lets face it, all this innovation you speak of, Bitcoin and none of it and nobody cares cause its worth $70 per coin. So my main focus wasn't just a name but the long term value as a function of popularity. But I do want innovation - I want it all for a coin Cause I'm thinking long term.

No, I've never been part of launching any coins. Can't you tell?

What's OP?

Vivisector999

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Pretty sure I read that Satoshi pre-mined 800,000 Bitcoins. They are still sitting in the same wallet. I know a few people are watching that wallet to see if any ever get spent so they can try to figure out who he really is.

Online24o0n

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"Ignorance never settles a question."

Quote from: Wolf0 on July 09, 2013, 01:38:18 AM

Quote from: Online24o0n on July 09, 2013, 01:33:49 AM

Quote from: truelitecoin on July 09, 2013, 01:30:33 AM

When I see premine, I immediately think scamcoin.

So, you think BTC and LTC are scamcoins?

BTC and LTC weren't premined, you moron.

https://bitcointalksearch.org/topic/ann-litecoin-a-lite-version-of-bitcoin-launched-47417 - "Litecoin will come with 150 premined coins:"
-that we know of.

Again, do some reading before calling people "morons".

Wolf0

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It was only the wind.