Are we on MemorycoinTalk?
Nope. Lots of people here have MMC and not many of them bought it.
I understand why Miners want to mine something that is profitable - MMC Makes sense for them
I understand why ground-level adopters who want something they got for cheap to be valued at more than what they paid - MMC makes sense for them.
I understand why FreeTrade wants this, he has a ton of MMC from the last version and basically just needed to launch this to give it an initial valuation, at which point he comes out with a big financial win no matter what. Who cares if you only get .00005BTC per coin when you give them to yourself for free, even at that price that 250,000MMC is worth more than 10kUSD for... exactly what? Obviously it's better for Freetrade if it goes to .01BTC because then that $10k becomes $2.5 million, but the point is that even now if you got something for free that's a pretty good deal. Heads you win, tails you win more.
So why does anybody else want to use MMC, and why does devoting 5% of the total money supply to five positions of dubious value as a salary paid in advance for work that will be done in the future.
I believe the president of the US makes about 400k per year for what is inarguably a more than full time job. Compared to the money supply of the US (M1) at 3109895 million USD or 310,989,500,000. If we paid the president the same way Memorycoin pays its executive board, the presidents salary would be 3,109,895,000 over a long period of time. There have been what, 44 presidencies? That brings the presidential salary under a MMC paradigm to $70,679,431 each. This is obviously simplified.
Point is, the numbers are wrong wrong wrong, there is no oversight or ability to have meaningful oversight, and there is no actual reason to do anything other than collect your MMC paycheck and do the minimal work neccesary. If MMC succeeds, you win big. If MMC fails, didn't cost you anything but convincing some folks who desperately want to believe your promises about making the thing they own some of worth more.
Results are all that matter, so long as your system picks who won the prize before the game even starts means all the important work happens before the beginning of the game. I'm all in favor of innovation, and named positions that are votable makes a ton of sense to me... But this coin sadly does not. I keep asking why anyone would want to hold this coin if they don't get it for cheap or free, still waiting for an answer on that.