Quote from: TheMightyX on July 25, 2014, 05:54:27 PM

Wow, not sure where to start with all these spirited, but misguided, messages. Undecided

I'll try to clear up the FUD in one post but before I do I'd like to say a few things.

hey Bergman? fuck you, I'll get to your post last.

Please note I do not follow this thread though so I'm sorry if my responses seem a bit late.
Any single one of you could have contacted me via BTCtalk or talked to me on the IRC which I've had open and online for the past 2-3 weeks, 24/7. instead of whining and causing FUD which will end up hurting everyone, including yourself.

EcuaMobi, I've already apologized to you. Benezivas, I am deeply sorry for not including you in the newsletter. The reason for this is quite simple. You "redacted your name by request" in the swap excel list.
I took the user list directly from the Swap list (hence the spelling mistake in iGoodw1n's name prevented him from getting the first newsletter, and the case sensitive issue preventing EcuaMobi from getting both the first and the second). Even EcuaMobi, who got neither newsletter, though condemning the lack of communication, has grudgingly admitted it was the right thing to do given the situation. Even Yogibaer, who is a pretty vocal supporter of a 1:1 swap ratio, after hearing what I'm about to tell you now agrees with the course of action.

And the situation was my fault, yes. It was a lack of oversight which I am trying to correct. This lack of oversight caused all PMC holders to get 3x their initial agreed upon amount.
Heres what happened and heres why your 3:1 swap is actually the same amount as the 1:1 we initially agreed upon.

From the original plan that was presented, may 26.
Bolded/red relevant part.

Quote from: TheMightyX on May 26, 2014, 11:03:48 AM

The idea was not to grant any existing PMC holders any NEW PMC, just exchanging their current PMC1 for PMC2 so they could continue on. This was to make it fair for new members joining the community. Most people here have less than 500 PMC. As well, we can also see that the value of PMC will be diluted initially. The max coins of PMC1 is 500,000. Where as PMC2's max coins will have to be as high as 1.5 to 2 million.

That was part of the original plan I presented to the community and we agreed upon.
When I said 1:1 it came with the original understanding that they (new community) would get 1 or 1.5 million.
If we reduce their share we have to reduce our share to keep the ratio intact, or else we are just fucking stealing.

We would set aside 500k for us, and 1 or 1.5 million for them.
We've now cut down the max coins, effectively reducing their share from 1 or 1.5 million to 500,000 (but not reducing our own at all!) oops! Shocked

This is a 50% or 66.66% reduction (a 2:1 or 3:1 ratio).

500k of 1.5 or 2 million is 33.33% or 25%, this was our Premine for swapping.
That was the deal I presented, that's where your 1:1 comes from.
You get 1:1 if they get 1.5 or 2 million. Rather than inconvenience them with upping the max coins and causing panic for 800 people. I thought I could rely on the PMC community to be mature, understand the facts and reduce their coins to fix the issue.

Heres the key, I need you to follow this very closely:
Whether you get 7000 PMP (1:1) of 2 million max coins (500k swap/1.5m giveaway) or 2300 PMP (3:1) of 666.66k (166.6k swap/ 500k giveaway)
You are getting the EXACT SAME AMOUNT OF COINS PROPORTIONAL TO THE MAX COINS!
If you have 12,000 PMP of 2 million or 4,000 PMP of 666.66k you still have 0.006% of all coins!!!
Your number of coins doesn't matter! Your stake is exactly the same!

What you don't seem to understand is if we keep the 1:1 swap and reduce the max coins for them but not for us, then that 1:1 is actually not 100% of your coins, because we reduced the max coins not-proportionally, 1:1 is actually 300% stake.

Heres the basic math for you again:
500k swap / 1.5m giveaway = .33
166.66 swap / 500k giveaway = .33
500k swap / 500k giveaway = 1 (three times the original agreed upon amount)

Yes I should have noticed the error sooner, should that have changed your mind? No, because you are getting the same amount of coins you are supposed to get, regardless of the max coins.
So thats the deal, theres your proof.

Why did I make this ridiculously easy mistake?
see:

Quote from: maardein on May 28, 2014, 01:16:01 PM

Quote from: ruthless09 on May 28, 2014, 01:06:19 PM

Could everyone stop with all the "we need to ... " and instead start doing that?

I agree. I think TheMightyX should just start the development of a new POS coin with 1.000.000 premined coins. I would also suggest having a mandatory transaction fee of at least 0.0001PMC+.

We can discuss how the premined coins will be distributed during development.

This is where the 1,000,000 million number came from, it was meant to be changed later and I got busy with so many other things I forgot all about it.
The only number that was really important to my designs was the ratio of swap to giveaway coins. and because I forgot all about changing the 1,000,000 to 2,000,000 the natural solution was not to panic the 800 new people and change it on the PMC side.

Thanks for everyone freaking the fuck out though, thats doing wonders for the coin. Roll Eyes

If anyone even thinks of uttering the words "we deserve 1:1" after all of this, I will go batshit insane.
You are getting the same damn amount of stake, because we've reduced the max coins by the same amount we've reduced your stupid coins.
I'll cross-post in the launch thread.

A new lie. TMX has written the OP. To this day, does it say: 1 Mio Coins - 500K to swap, 500k for the Giveaway. Not 166k for the swap
and 834k for the giveaway. At june 25th, day of announcement it was clear for everybody. Then TMX has changed his opinion. But nothing other has changed.