Distribution At Block 32000 - MemoryCoin 2.0

[RejectKid]

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?

[FreeTrade]

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

[barwizi]

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?

[FreeTrade]

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.

[FreeTrade]

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.

[cryptrol]

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.

[barwizi]

So when does mining start?

As i see the blocks passing by, it's a matter of 3 hours before we reach 32000

[FreeTrade]

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.