Post
Topic
Board Altcoin Discussion
Re: [ANN] MemoryCoin 2.0 redistribution vote
by
Newmine
on 29/12/2013, 23:59:12 UTC

53 coins going to each officer every 20 blocks is absurd.


Depends on what he/she/they do for the coin. Note that having 10,000 coins is irrelevant for the voting system since more than one million coins have already been issued and all of them can vote. In fact, I think that the CSO has been replaced recently that means that the community is selecting who takes the positions.

Now that the coin has reached a estable value I hope that more individuals/enterprises apply for the positions so we can see a constructive 'competition' to provide services to the coin: a professional on marketing who could attract media coverage, the charity position that isn't covered yet could reinforce the community-oriented basis of the coin...

Redistributing the coins of the positions without criteria would just devaluate the coin. This coin has a mechanism to make it grow and offer more services, so let's see what people can do to add value and support them.

Let's be real, you named 2 out of 6 positions that could be essential to the future of the coin. The other positions have already outlived their necessity. The website, pools etc. have been established. What they earned so far could pay for every altcoins services like this.

What exactly is the duty of the CEO? Does FreeTrade tell the others what to do? Does he do anything in relation to his title and are those duties that of a developer, and this is a clever way around a premine?

 



Bitcoin is almost 5 years old and behind it there is still and active group of developers. I would not say that the CTO, CSO and CNO positions are finished with their work: pools can be improved, miners can be optimized, new users/miners have to be helped, bugs have to be fixed... Coding never ends.

I agree that CEO's tasks are quite ambiguous but everybody is free to propose something good for the coin and apply for the CEO position. If the proposal is good enough I'm convinced that the community will strongly support it.

If the coin has value, there will always be incentive to optimize miners and fix bugs. Mining the coins and the scarcity of the coins used to be all the incentive needed.  Now developers are trying to finagle their way into a free coin supply under ambiguous pretense.  Pools charge fees, so their incentive to improve is inherent.

The problem here is that this coin is trying to be run like a corporation.  Running the coin with this corporate structure will result in a centralized coin, not a decentralized coin. By saying my vote is worth less than yours because I don't have as much coin as you all the while giving free coins to those already in power is disenfranchising. It is somewhat like the Three-Fifths Compromise with out the racial or ethnic undertones (and by no means a direct comparison). Do you think if you tried at this point, you would be able to unseat any of the elected at this point with out a huge campaign and the coin going to sh*t?