Re: [ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept

Nullu, Creditcoin, ecuamobi, Mivexil, shanent.

You guys look at this site: http://cryptofury.com/investors/

This is the crypto giveaway guy...

Lets get involved....

Ads for 1 satoshi a day right now.... he is looking for investors... like for 0.01 BTC type stuff... he is all over the twitterverse...

This is IT....

Lets do this...

Seems like a fun project, though I don't see it exactly benefiting PMC... just another sell-and-run giveaway. Besides, I could use some dev-hours myself Wink

The ads might be nice, but my HYIP just took its bags and I'm left with PMC only, which I'm quite reluctant to sell.

What we really need, I think, is a novel idea, something that can't be done with BTC. A PMC-exclusive Wink

The major issue with PMC is distribution in my opinion; when there is 100 people with the ability to dump and destroy the market, no one is willing to risk investing significantly.

At this time I don't think theres a real fix aside from waiting for all the big stake holders to sell and it get distributed on exchanges.
i've been thinking of ideas, and this is the best I could come up with:

If we want to get some real value out of PMC fast, maybe make it a phase 1 of a new coin, that promises larger distribution, maybe stick to the 21M coin count as BTC, and automate the distribution somehow. You could make PMC the Proof of Burn Buy in, but limiting people to X amount of buy ins each. In this way the remaining PMC would rise in value as more and more people burn to buy in. I would call the new coin PremiumCoin and keep the PMC naming scheme. PremiumCoin could then be used to continue discovering the future of bitcoin, on a real to life scale, and the 'Premium' nomenclature could be from a promise ot try new things first; become the beta testing/ proving ground coin of new bitcoin/altcoin enhancements before other mainstream coins implement them.

If you don't want to completely kill off PMC (I don't), only allow 210,000 PMC Proof of burn buy ins of the new coin, so that the remaining 280,000 can continue on, and will benefit from the giant price increase, publicity, and adoption. doing this will also allow the remaining large stake holders to benefit from investing early, and theres still enough coin left to not really effect the original purpose and value of PMC. The IPO could also be done in small phases to keep interest in PMC from dropping as soon as its over; only allow for the equivelent of 100 stakeholders to buy in a week or something.

I'd aim for no less than 1k original investors; 2.1k would be ideal =) make 100 PMC = 1000 PremiumCoin, the most any 1 person an POB for an initial stake. That also leaves the opportunity for more than 2.1k stakeholders. credit has already distributed the original PMC 100%, I think people would trust him for an IPO like this.

The original PMC would then continue on being the "Future of bitcoin Revealed" and the new PMC would become "The possibilities of Bitcoin Revealed" as it focuses on possible future enhancements.
Obviously some naming issues if we keep both coins alive. PremiumCoin could be PMC+ (anyone ever use a special character in the naming of coin? Any reason it isn't possible? =D)

I totally agree with you... it is just like bitcoin testnet. PMC community have nothing to offer to the cryptouniverse as of now...

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.

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.