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Offline FreeTrade

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CSO / CMO / CHA positions (no longer) compromised
« on: December 26, 2013, 12:37:46 AM »

Looks like in the latest vote, a large owner has taken control of three positions -

The vote winners are now -

MVTEcsokc7QGqvA2RZz8TcLJbswtvyw6jX
MVTEcmovis7qct4hwshvht7USDUvBLeBdJ
MVTEchaj4Tg2oiW1Z5J8yx6BQLUHyAi3it

I can't find these addresses anywhere, so I assume they are privately held and no benefit to the coin.

Please choose candidates to vote for to prevent a private take-over of these funds -

Here are the candidates -
https://bitcointalk.org/index.php?topic=369487.0;all

Send 1 satoshi to your chosen person for each position.




--------Grant Voting--------
Total coin issued: 1405920
Total of Voters' Balances: 51950
Percentage of total issued coin voting: 3percent
Droop Quota: 25975
-------------:
Award Round:0
Candidate Elected: MVTEcmovis7qct4hwshvht7USDUvBLeBdJ (26457)
Surplus Transfer Value: 0.0182312
--------End Grant Voting--------
Add grant award to Block MVTEcmovis7qct4hwshvht7USDUvBLeBdJ 5320000000

Winner Support:

--MVTEcmovis7qct4hwshvht7USDUvBLeBdJ
-->25975 MA9thFQTqWt6XoArbiCPyy4YDCuAJZXQYi
--------Grant Voting--------
Total coin issued: 1405920
Total of Voters' Balances: 50250
Percentage of total issued coin voting: 3percent
Droop Quota: 25125
-------------:
Award Round:0
Candidate Elected: MVTEcsokc7QGqvA2RZz8TcLJbswtvyw6jX (26457)
Surplus Transfer Value: 0.0503582
--------End Grant Voting--------
Add grant award to Block MVTEcsokc7QGqvA2RZz8TcLJbswtvyw6jX 5320000000

Winner Support:

--MVTEcsokc7QGqvA2RZz8TcLJbswtvyw6jX
-->25125 MA9thFQTqWt6XoArbiCPyy4YDCuAJZXQYi
--------Grant Voting--------
Total coin issued: 1405920
Total of Voters' Balances: 34242
Percentage of total issued coin voting: 2percent
Droop Quota: 17121
-------------:
Award Round:0
Candidate Elected: MVTEchaj4Tg2oiW1Z5J8yx6BQLUHyAi3it (26457)
Surplus Transfer Value: 0.352891
--------End Grant Voting--------
Add grant award to Block MVTEchaj4Tg2oiW1Z5J8yx6BQLUHyAi3it 5320000000

Winner Support:

--MVTEchaj4Tg2oiW1Z5J8yx6BQLUHyAi3it
-->17121 MA9thFQTqWt6XoArbiCPyy4YDCuAJZXQYi
« Last Edit: December 27, 2013, 01:35:29 AM by FreeTrade »
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline isaacgoldbourne

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Re: CSO / CMO / CHA positions compromised
« Reply #1 on: December 26, 2013, 12:42:14 AM »
SeansOutpost is hopefully going to come directly and accept the CHA position (if you guys choose for it).

In the meantime I am his representative and you can use the address:
MVTEchaTyyDP2V6QotPE4zi1mUvbNKo8pe

I had warned about this happening earlier, we all need to start voting. Its just a satoshi and a moment of your time!
MemoryDice now available! https://bitsharestalk.org/index.php?topic=1886.0
 Vote for me to be CNO of memorycoin if you want these services. Just send 1 satoshi!
CNO: MVTEcno2tbsJWj7AQEyEjgk72j94hbPHFm

Offline Linolis

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Re: CSO / CMO / CHA positions compromised
« Reply #2 on: December 26, 2013, 01:08:55 AM »
Just threw my votes into the ring, hopefully they made a difference.

Offline isaacgoldbourne

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Re: CSO / CMO / CHA positions compromised
« Reply #3 on: December 26, 2013, 01:10:14 AM »
Just threw my votes into the ring, hopefully they made a difference.
I just saw them, thank you very much.

I can't stand the thought that someone with clearly enough wealth already is stealing from the charity pot. Wouldn't be surprised if it was the same person currently mining at 350h/m
MemoryDice now available! https://bitsharestalk.org/index.php?topic=1886.0
 Vote for me to be CNO of memorycoin if you want these services. Just send 1 satoshi!
CNO: MVTEcno2tbsJWj7AQEyEjgk72j94hbPHFm

Offline isaacgoldbourne

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Re: CSO / CMO / CHA positions compromised
« Reply #4 on: December 26, 2013, 02:07:40 AM »
Just threw my votes into the ring, hopefully they made a difference.
I just saw them, thank you very much.

I can't stand the thought that someone with clearly enough wealth already is stealing from the charity pot. Wouldn't be surprised if it was the same person currently mining at 350h/m
Up to 4 votes, that SOB is still stealing from charity.
MemoryDice now available! https://bitsharestalk.org/index.php?topic=1886.0
 Vote for me to be CNO of memorycoin if you want these services. Just send 1 satoshi!
CNO: MVTEcno2tbsJWj7AQEyEjgk72j94hbPHFm

Offline belltown

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Re: CSO / CMO / CHA positions compromised
« Reply #5 on: December 26, 2013, 02:47:54 AM »
This is a pretty urgent matter. This is pretty bad for the coin. If people with a lot of coins decide that they prefer one candidate over another because they think he does a better job that's ok. They are invested in the coin the most and they chose a person who will serve the coin the best. But if somebody unknown with a lot of coins just votes for himself with absolutely no indention to do any work to build a coin this is pretty bad. He just gets paid without doing any work.

It seems that this person has just 25k coins. I think MemoryCoin community can stand together and elect a better candidate for CSO, CMO and CHA positions. I voted my 6k coins. We need just 19k more votes.

PLEASE VOTE NOW!

Voting is super easy. Just send exactly 1 Satoshi (0.00000001 MMC) to the address of the candidate of your choice. Here is candidates:
https://bitcointalk.org/index.php?topic=369487.0
 
« Last Edit: December 26, 2013, 03:12:04 AM by belltown »
How I've earned 0.088 BTC for making few forum posts on LetsTalkBitcoin - https://bitsharestalk.org/index.php?topic=6684

Offline itsik78

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Re: CSO / CMO / CHA positions compromised
« Reply #6 on: December 26, 2013, 03:05:26 AM »
This entire system is flawed...
What prevents me from writing a fairly easy script (would take me around 20 seconds), using an investment of, let's say, 500 mmc to:
1. Start the memory coin daemon without a wallet.dat
2. Send a satoshi to this wallet from my main wallet
3. Send a satoshi voting for myself from the new wallet
4. Kill the daemon
5. Delete the wallet so a new one gets recreated
Start over * 50000000000 times.
Who could ever beat me?

« Last Edit: December 26, 2013, 03:07:20 AM by itsik78 »

Offline itsik78

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Re: CSO / CMO / CHA positions compromised
« Reply #7 on: December 26, 2013, 03:10:24 AM »
Just threw my votes into the ring, hopefully they made a difference.
I just saw them, thank you very much.

I can't stand the thought that someone with clearly enough wealth already is stealing from the charity pot. Wouldn't be surprised if it was the same person currently mining at 350h/m
I'm one of the top miners (more than 350 h/m) and I would never do that.. Although, as I wrote above it's extremely easy to fool the system... This voting system needs rethinking.

Offline radiumsoup

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Re: CSO / CMO / CHA positions compromised
« Reply #8 on: December 26, 2013, 03:17:08 AM »
the problem is that the reward is just too damned high. The people in these positions (excuse me if I'm stepping on anyone's toes here, I mean no insult) don't seem to actually have anything to do. It's not "charity" as much as it is "whoever can convince people they deserve it more gets free money". I saw this coming a mile away. Others actually warned about it. I am not surprised in the least that it happened.

This would be much less of an issue if the reward was 1/10th of what it is.

Offline belltown

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Re: CSO / CMO / CHA positions compromised
« Reply #9 on: December 26, 2013, 03:19:27 AM »
itsik78, it's great to meet somebody who has so much hashing power. Great job, man!

MemoryCoin 2.0 voting is proportional to the number of coins you own. So if you have 1 MMC that's one vote. If you have 25k MMC that's 25k votes. So there is no need to create a scrypt, if you have more coins you have more votes. There is no way to cheat. if you want to do something selfish you have to mine or buy more coins to get more votes and you need to have more coins then the whole community that voted.

This is what happened here. Because people usually don't vote, somebody with 25k coins stole CSO, CMO and CHA positions.

If you have more then 25k coins just your single vote can revert the damage done. But even if you have less, still please vote now, man.
« Last Edit: December 26, 2013, 03:25:32 AM by belltown »
How I've earned 0.088 BTC for making few forum posts on LetsTalkBitcoin - https://bitsharestalk.org/index.php?topic=6684

Offline Lighthouse

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Re: CSO / CMO / CHA positions compromised
« Reply #10 on: December 26, 2013, 03:20:18 AM »
The size of the reward isn't the problem, it's that you're paying people a salary rather than paying for results.  Paying a salary means you pay for one persons time.  Who cares about their time, it might not be that valuable - It would be better to set out goals that whenever anyone achieves them results in some of the designated funds being sent their way.

So long as you pay people for their time, you have to micromanage them to make sure they are using their time effectively.  I don't think thats possible, therefore its nuts to pay for time.

And Freetrade, the client won't even run on my computer - It loads with a blockchain related error message then crashes a few minutes later, when your software works I'll be happy to vote my PTS derived shares.
Before you say the price of PTS is too high, take a look at theThe Reason.  Protoshares are an entirely new type of Cryptocurrency, one that pays to hold.

Offline itsik78

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Re: CSO / CMO / CHA positions compromised
« Reply #11 on: December 26, 2013, 03:23:09 AM »
itsik78, it's great to meet somebody who has so much hashing power. Great job, man!

MemoryCoin 2.0 voting is proportional to the number of coins you own. So if you have 1 MMC that's one vote. If you have 25k MMC that's 25k votes. So there is no need to create a scrypt, if you have more coins you have more votes. There is no way to cheat. if you want to do something selfish you have to mine or buy more coins to get more votes and you need to have more coins then the whole community that voted.

This is what happened here. Because people usually don't vote, somebody with 25k coins stole CSO, CMO and CHA positions.

If you have more then 25k coins just your single vote can revert the damage done. If you have less, still please vote now, man.

What if I shift my 25k from one account to other, voting from each account? Would it sum up?

Offline belltown

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Re: CSO / CMO / CHA positions compromised
« Reply #12 on: December 26, 2013, 03:28:01 AM »
What if I shift my 25k from one account to other, voting from each account? Would it sum up?

Election results are recalculated every 20 blocks. So no, your previous account has 0 MMC now, so it's 0 votes. Your new account has 25k MMC, so if you don't forget to vote from that account, it's still just 25k votes. But if you forget to vote from that account it's 0 votes. So it's better not to move the money around.
« Last Edit: December 26, 2013, 03:29:43 AM by belltown »
How I've earned 0.088 BTC for making few forum posts on LetsTalkBitcoin - https://bitsharestalk.org/index.php?topic=6684

Offline itsik78

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Re: CSO / CMO / CHA positions compromised
« Reply #13 on: December 26, 2013, 03:30:38 AM »
What if I shift my 25k from one account to other, voting from each account? Would it sum up?

Election results are recalculated every 20 blocks. So no, your previous account has 0 MMC now, so it's 0 votes. Your new account has 25k MMC, so if you don't forget to vote from that account, it's still just 25k votes. But if you forget to vote from that account it's 0 votes. So it's better not to move the money around.
I see,
Sorry for the confusion.
You received my vote (only 1.6k, but soon to be 3k).

Offline FreeTrade

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Re: CSO / CMO / CHA positions compromised
« Reply #14 on: December 26, 2013, 03:36:21 AM »
The size of the reward isn't the problem, it's that you're paying people a salary rather than paying for results.  Paying a salary means you pay for one persons time.

Well, we'll see how it evolves. There's nothing to stop winners from using funds to subcontract others. If the rewards become large enough, we might see more competition and that competition should involve making better offers to memorycoin owners for their votes.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

 

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