Author Topic: CSO / CMO / CHA positions (no longer) compromised  (Read 16374 times)

0 Members and 1 Guest are viewing this topic.

Offline NUKE1989

  • Jr. Member
  • **
  • Posts: 20
    • View Profile
har har Democracy in a capitalistic system

Offline barwizi

  • Hero Member
  • *****
  • Posts: 764
  • Noirbits, NoirShares, NoirEx.....lol, noir anyone?
    • View Profile
    • Noirbitstalk.org
MVTEcsoqoc4bVUHgVdxnQx2L53vm5UgXpM

Online Support and advice. Vote me!!!
--Bar--  PiNEJGUv4AZVZkLuF6hV4xwbYTRp5etWWJ

The magical land of crypto, no freebies people.

Offline Delinquency

  • Sr. Member
  • ****
  • Posts: 370
    • View Profile
We need a real-time system to display statistics of the current election and encourage voting...

IMHO this voting system is very controversial. Why can't elections be held publicly, held without sending your beloved MMC and with the coins to reward a nominated candidate if he wins?

Seems like even in MMC, democracy can still be manipulated with mass amounts of money

Offline Lighthouse

  • Sr. Member
  • ****
  • Posts: 376
  • Making a Market in PTS since 11/06/2013
    • View Profile
    • Lighthouse Bulk Orders and Trusted Escrow (Closed)
So where should we expect to see results/ reports from the people who are being paid a salary

Mostly it seems like money was devoted from one person doing nothing to another person doing nothing who the guy creating the coin prefers
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 belltown

  • Full Member
  • ***
  • Posts: 107
    • View Profile
Nice. Thank you for your votes! Community got together and the cheater lost! MemoryCoin 2.0 innovative elections system works.

But please, if you didn't vote, please keep voting. Let's not be passive, let's leave no room for cheaters! We together have more power then 1 cheater who happens to accumulate a lot of coins.
How I've earned 0.088 BTC for making few forum posts on LetsTalkBitcoin - https://bitsharestalk.org/index.php?topic=6684

Offline FreeTrade

  • Moderator
  • Hero Member
  • *****
  • Posts: 700
    • View Profile
So we've recovered - but we're going to need a constant effort to vote for useful candidates. Eternal Vigilance!


Here's the current winners -

MVTEceoTeDMmxFHcRbkMyJGN4ct7ULKkS6

MVTEchaTyyDP2V6QotPE4zi1mUvbNKo8pe

MVTEcmo2iUnZn5cHJ7SKrhLMwi7EGPfgnq

MVTEcnoqHvr7AWRSBFUSpVCBKcxUfxVEad

MVTEcsoCi2QBXFTsRARm81nXSkaqeAt5wT

MVTEcto33ErvL7f5PBAaPakazcpw6HRn7F


53.20000000 MMC

53.20000000 MMC

53.20000000 MMC

53.20000000 MMC

53.20000000 MMC

53.20000000 MMC
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline FreeTrade

  • Moderator
  • Hero Member
  • *****
  • Posts: 700
    • View Profile
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

Offline itsik78

  • Sr. Member
  • ****
  • Posts: 297
    • View Profile
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 belltown

  • Full Member
  • ***
  • Posts: 107
    • View Profile
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

  • Sr. Member
  • ****
  • Posts: 297
    • View Profile
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 Lighthouse

  • Sr. Member
  • ****
  • Posts: 376
  • Making a Market in PTS since 11/06/2013
    • View Profile
    • Lighthouse Bulk Orders and Trusted Escrow (Closed)
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 belltown

  • Full Member
  • ***
  • Posts: 107
    • View Profile
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 radiumsoup

  • Jr. Member
  • **
  • Posts: 23
    • View Profile
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 itsik78

  • Sr. Member
  • ****
  • Posts: 297
    • View Profile
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 itsik78

  • Sr. Member
  • ****
  • Posts: 297
    • View Profile
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 »