BitShares Forum
Other => Graveyard => MemoryCoin => Topic started by: Lighthouse on December 26, 2013, 01:30:30 pm
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In theory, I am an owner of Memorycoin. I don't get it, why do I want to own this? It has the advantages of bitcoin except it hemorrhages money with a portion of each block going to some random person who pitched their services and if selected is constantly being paid an unreasonably high salary if this currency winds up being anything valuable with no actual controls in place to make sure they're doing anything productive with their time besides being able to put on a dog and pony show for memorycoin holders.
What am I missing?
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CPU only, which is often regarded a good thing.
Paid positions will be very highly competed in future and will require someone who does a lot to get the position.
CPU coin that isn't a scam.
Community already working on a LOT, I myself am working on a gambling service and SPV wallet.
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hemorrhages money with a portion of each block going to some random person who pitched their services and if selected is constantly being paid an unreasonably high salary if this currency winds up being anything valuable with no actual controls in place to make sure they're doing anything productive with their time besides being able to put on a dog and pony show
Sounds like every election ever. It's the worst system, apart from all the others that we've ever tried.
But interested to hear your *constructive* suggestions.
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I don't understand what the purpose of your coin is, Protoshares is backed by the value Invictus imbues into it by honoring it with distributions. What do Memorycoins do that make me want to do anything but sell them for more than I bought them?
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I don't understand what the purpose of your coin is, Protoshares is backed by the value Invictus imbues into it by honoring it with distributions. What do Memorycoins do that make me want to do anything but sell them for more than I bought them?
You could say the same thing about any coin. Infastructure will come, we will ensure that.
Its a CPU coin, that wasn't 98% pre-mine. It uses a new PoW algorithm that will not work on GPU/ASIC and is the most innovative of ANY Alt-Coin currently available.
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I don't understand what the purpose of your coin is
MemoryCoin is an attempt to fix flaws in Bitcoin and other altcoins. You can read more here.
http://memorycoin.org/manifesto/
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Cpu coins is very good but botnet and zombies is very bad for mining.
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Cpu coins is very good but botnet and zombies is very bad for mining.
Yeah unfortunately that will be a problem for us. Not really possible to bypass except with PoS (most botnets would want to just sell and move on not hold coins)
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Actually this makes me realize that I'm doing poor job explaining on the site why MemoryCoin 2.0 is probably the most innovative coin there is. I'm truly convinced that MemoryCoin has more innovations then PPC and XPM combined. Will try to fix that.
Elections system is one the the several very cool innovations of the coin. Think about it! This is amazing. No other coin has paid officers who are helping to develop the coin and who compete to get the job. But because this is so innovative there is criticism. It's OK. Every cool innovation has criticism. Think innovative POS of PPC coin, or ASICs, or even alt coins group in general. The only way to have no criticism is to do no innovation. Everybody loves DOGE, coin with no innovation whatsoever. But when FreeTrade did something really cool and innovative suddenly there is criticism from everywhere. Isn't this ironic?
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Actually this makes me realize that I'm doing poor job explaining on the site why MemoryCoin 2.0 is probably the most innovative coin there is. I'm truly convinced that MemoryCoin has more innovations then PPC and XPM combined. Will try to fix that.
Elections system is one the the several very cool innovations of the coin. Think about it! This is amazing. No other coin has paid officers who are helping to develop the coin and who compete to get the job. But because this is so innovative there is criticism. It's OK. Every cool innovation has criticism. Think innovative POS of PPC coin, or ASICs, or even alt coins group in general. The only way to have no criticism is to do no innovation. Everybody loves DOGE, coin with no innovation whatsoever. But when FreeTrade did something really cool and innovative suddenly there is criticism from everywhere. Isn't this ironic?
I totally agree with you, officers are highly paid at the moment but when there is the reduced block sizes that will go down a lot. And competition for those places will increase. I'm currently trying to get CNO/CEO. Guess I'll get them when my services are available
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Actually this makes me realize that I'm doing poor job explaining on the site why MemoryCoin 2.0 is probably the most innovative coin there is. I'm truly convinced that MemoryCoin has more innovations then PPC and XPM combined. Will try to fix that.
Elections system is one the the several very cool innovations of the coin. Think about it! This is amazing. No other coin has paid officers who are helping to develop the coin and who compete to get the job. But because this is so innovative there is criticism. It's OK. Every cool innovation has criticism. Think innovative POS of PPC coin, or ASICs, or even alt coins group in general. The only way to have no criticism is to do no innovation. Everybody loves DOGE, coin with no innovation whatsoever. But when FreeTrade did something really cool and innovative suddenly there is criticism from everywhere. Isn't this ironic?
I'm sure lots of people (even many owners of MMC) don't get enough knowledge about this coin. I will highly appreciate if you add some introduction on www.memorycoin.info, at least demonstrating the special aspects (voting system, why we need this system and its mechanism), the advantages of this coin comparing to others (security, transfer speed etc) and the possible oncoming applications on this coin. Bon courage!