Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [PMC] Premine Coin | Rare | Mining Transaction Fee Proof of Concept
by
TheMightyX
on 18/03/2014, 07:13:33 UTC
It seems like we have a lot of non-issues here.
The coin has done exactly what it was supposed to. It is not supposed to distribute any more coins after its initial distribution. We don't want an infinitely distributing coin (i.e. bitcoin will distribute for 100 years+). At some point it has to stop distributing to people for free.
It has achieved value now and that is the reward for holding on to it.

When we received PMC from initial distribution it was worthless.

If you give people a worthless amount of PMC today (i.e. 7 PMC) they cry and whine like that spyro bitch. "Your initial stake is now worth X dollars! Give me X dollars worth of PMC!" I'm sorry but thats not how the world works. That would be unsustainable. You weren't there at the initial distribution which was free and open to everyone and that is something that you will have to deal with. You don't go up to bitcoin millionaires and say "you mined thousands of BTC with your laptop! Give me some of those bitcoins!!", or maybe spyro is the kind of person to do that?

No one else is complaining about PMC distribution. You are validating his irrational concerns.


So with that being said, it does seem that the PMC distribution was too sudden. I will agree with this point.

PMC could have dragged out the distribution process. Better yet would have been to innovate or add something that people would use the coin for. If no one is sending pmc then no one can mine PMC. I don't believe creating a PMC2 is a good idea because it implies there is a problem with the original, when in fact it is functioning exactly as it was designed to.

Should we remake bitcoin into bitcoin2 so as to redistribute the coins more evenly? of course not.
Making fees mandatory is a great start. Creating some gambling sites would help. The multipool is proactive.
We need more ideas like this.