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Offline FreeTrade

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Distribution At Block 32000 - MemoryCoin 2.0
« on: December 10, 2013, 06:57:51 AM »

I'm proud to announce the first distribution for ProtoShares owners.

ProtoShares owners collectively will receive a 1% stake in the relaunched MemoryCoin - MemoryCoin 2.0.

Balances will be calculated at block 32,000 and the distribution will take place in the genesis block of MemoryCoin 2.0. Coins will be awarded on a 1:10 basis - so if you have 10 ProtoShares, you'll receive 1 MemoryCoin. Fractional amounts will be awarded, but some lower limit may be enforced due to size constraints.

You'll need the private keys for your ProtoShares balance to claim your MemoryCoin distribution. If your balance is held at an exchange, the exchange will hold the private keys and be able to make the claim. However it is uncertain how different exchanges will handle this. To be certain of receiving your full distribution, I recommend holding your full balance off-exchange, and in a single address for simplicy.

MemoryCoin 2.0 will have a similar parameters to ProtoShares, but will have improved difficulty re-targetting, a memory-hard PoW, and voting and payments in the blockchain for 5 office-holders, CEO, CTO, CNO, CMO, CSO and 1 charitable donation, CHA.
« Last Edit: December 10, 2013, 07:28:34 AM by FreeTrade »
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Offline barwizi

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #1 on: December 10, 2013, 07:46:02 AM »
So when does mining start?

As i see the blocks passing by, it's a matter of 3 hours before we reach 32000
« Last Edit: December 10, 2013, 08:38:00 AM by barwizi »
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Offline cryptrol

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #2 on: December 10, 2013, 08:28:53 AM »
Excuse my ignorance, but I am not getting it, we will have to import our Protoshares private keys into Memorycoin wallet before block 32000 ?

BTW, I am interested into the voting system, where can I read more of it ? I am interested in developing a web frontend for it.

Offline FreeTrade

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #3 on: December 10, 2013, 08:31:51 AM »
So when does mining start?

Should be within a week, but the block rewards will start at zero and gradually ramp up over the course of a week.
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Offline FreeTrade

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #4 on: December 10, 2013, 08:39:51 AM »
Excuse my ignorance, but I am not getting it, we will have to import our Protoshares private keys into Memorycoin wallet before block 32000 ?

No, you can import your private key any time - indeed you can sell all your ProtoShares on block 32001, and import your private key a year later - the MC will be waiting for you on the block chain. The only thing you might want to do is move funds from a third party to a private wallet to ensure you are in control of the private key at block 32000.


BTW, I am interested into the voting system, where can I read more of it ? I am interested in developing a web frontend for it.

More details to follow, but the basics of it are the voting is proportional to the number of coins you own, there are 5 positions and 1 charitable donation. Votes are made by sending a small number of satoshi to a specially formatted address, multiple preferences are allowed. A web interface could provide information about the votes, but people need their private keys to send even satoshi, so I don't think people could make votes directly on the web. People vote with their wallets in the most literal sense.

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

Offline barwizi

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #5 on: December 10, 2013, 08:42:44 AM »
i'll probably vie for a position, any tips in the mean time? Like should we move from 8GB machines to 32GB for 8 threads?
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Offline FreeTrade

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #6 on: December 10, 2013, 08:55:10 AM »
i'll probably vie for a position, any tips in the mean time? Like should we move from 8GB machines to 32GB for 8 threads?

That's great - the only tip I can offer is you might want to start generating your election address - you can use vanitygen - the command is

oclvanitygen -o grantawardkey.txt -k -X 50 MVTEceo MVTEcto MVTEcno MVTEcmo MVTEcso MVTEcha

If an amount less than 10 satoshi is sent to an address starting 'MVTEceo' for example, it is treated as a vote for the owner of that address to be CEO and the winners payments is sent to that address.

So it might take you a while to generate MVTEceoBarwz... so the best time to start is now :)

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

Offline RejectKid

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #7 on: December 10, 2013, 10:23:40 AM »
Couple questions.  Is there any documentation on this? or a seperate wallet? webiste?  those sorts of things?

Also how do you obtain the private key that you're speaking of?
PTS: Pu4ahefp2nMXeQw2cxome8g6V9B4faLx81 BTC: 1NcZg4xF9zSCNUpVanfwfMJY7kqAXtdrbu MMC: MWsdbnkdZRPNEQru1YeeATZTGmqhuSYFoN
Reddit: www.reddit.com/r/protoshare www.reddit.com/r/memorycoin

Offline stuartcharles

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #8 on: December 10, 2013, 10:36:57 AM »
Great news Freetrade this will help us see some rise in PTS value, however, i havent got a clue what memory coin is benefits ect can you edit the opening of your topic to let holders and potential investors know what they are supporting/buying into?

Offline Gekko

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #9 on: December 10, 2013, 10:37:48 AM »
What is MemoryCoin (2.0) for?

Offline FreeTrade

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #10 on: December 10, 2013, 11:17:35 AM »
More detailed information will be available on the coin's launch, with a 1 week period where block rewards are phased in. It'll be somewhat similar to the original MemoryCoin, so if you can't wait, you can read about that on the BitCoinTalk forum thread.

For now I just really wanted to advise ProtoShares holders of the distribution block - 32000, by my calculations this should be in 2 or 3 days time.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline FreeTrade

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #11 on: December 10, 2013, 11:20:16 AM »
Couple questions.  Is there any documentation on this? or a seperate wallet? webiste?  those sorts of things?

Also how do you obtain the private key that you're speaking of?

It's a separate altcoin/DAC - separate wallet, website etc. The private key will be derivable from your PTS private key.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline Gekko

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #12 on: December 10, 2013, 11:40:28 AM »
I see. Quote from the MemoryCoin Manifesto:
Quote
It is based on the Bitcoin code, but with some key differences.
Sorry, but the first things that come to my mind are: dispensable, superfluous, redundant, unnecessary. Just like most of the other altcoins.
On the other hand... just for making first steps with ProtoShares, for playing around, pump and dump... why not.



Offline bahamapascal

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #13 on: December 10, 2013, 12:52:01 PM »
Wow, this is some interesting news :)
That should be beneficial for both coins, I guess we will be seeing a price increase in the next day or so :)

Offline stuartcharles

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Re: Distribution At Block 32000 - MemoryCoin 2.0
« Reply #14 on: December 10, 2013, 01:25:04 PM »
Just had a read of the thread on bitcoin talk

https://bitcointalk.org/index.php?topic=267522.0

If its based on the old coin which didnt work out, what are you adding to it to make it work this time?

 

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