Author Topic: [ANN] MaxPWR Petitions to Sanction User Newmine  (Read 10422 times)

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Offline FreeTrade

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I see that the CMO has been fired and I see this as a great step as he really didn't do anything other than a 30 links HTML site (and got paid around 5000 MMCs for that which is quite enough for 30 minutes work).
Any good candidates out there or should I offer myself for the job (with the 5 man team idea)?
I plan on marketing the coin in forums, offering it to exchanges and maintaining a new site, in case the old one is removed.
Most importantly, I plan to use most of the salary money for bounties for (reputable) bloggers and tech sites to write about the coin.
What I do not plan is sitting on the golden egg of this salary and doing the minimal work required for my own profit.
Please let me know within the hour before I offer myself.

Thank you

Candidates are listed here -
http://memorycoin.org/candidates/

As you see, we haven't had a lot of competition for CMO - I think it's because we're more of a technical community at the moment. I'm certainly happy to list your candidacy, although I'm a little worried you might just be trying to prove your point that it is possible to get elected with big promises and fail to deliver with no sanction other than the sack. I think the community would want to see results pretty quickly to trust you, and it would be helpful if you had any kind of track record to point to.

With regard to the previous CMO destroying his website out of spite - I doubt that would happen . . it's an asset for him and previous C*O's have an interest to see the coin succeed, not fail.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline itsik78

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I see that the CMO has been fired and I see this as a great step as he really didn't do anything other than a 30 links HTML site (and got paid around 5000 MMCs for that which is quite enough for 30 minutes work).
Any good candidates out there or should I offer myself for the job (with the 5 man team idea)?
I plan on marketing the coin in forums, offering it to exchanges and maintaining a new site, in case the old one is removed.
Most importantly, I plan to use most of the salary money for bounties for (reputable) bloggers and tech sites to write about the coin.
What I do not plan is sitting on the golden egg of this salary and doing the minimal work required for my own profit.
Please let me know within the hour before I offer myself.

Thank you

« Last Edit: January 07, 2014, 08:07:54 am by itsik78 »

Offline FreeTrade

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That is interfering if I ever heard of such a thing.  How long did you wait from being ousted to contacting Bter? Did you offer to work on contract on an as needed basis? I don't know these things as I was not apart of memorycoin 1.  With out these answers, it seems like you couldn't have her so you made sure no one could.

It was quite proper.
http://en.wikipedia.org/wiki/Trading_halt

Trading halts usually occur when a publicly traded company is going to release significant news about itself. The halt in trading for the affected security gives investors time to review the news and assess its impact. Another situation in which a trading halt might occur is when the exchange is uncertain "whether the security continues to meet the market’s listing standards." [1]
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline NewMine

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Quote
I didn't 'crash' MemoryCoin 1

Quote
I explained the situation to the Bter exchange and recommended they suspend trading for a short time while the news was absorbed. They didn't want to continue with a coin with no dev support and halted trading altogether.

That is interfering if I ever heard of such a thing.  How long did you wait from being ousted to contacting Bter? Did you offer to work on contract on an as needed basis? I don't know these things as I was not apart of memorycoin 1.  With out these answers, it seems like you couldn't have her so you made sure no one could. 

Offline FreeTrade

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You're totally right - How many MMC were assigned to addresses you directly or indirectly control, in the genesis block?    I believe you are the only one who can answer this and it seems like a vitally important transparency issue given this directly impacts voting and you've already shown that you've got no problem voting with a block of 40k because heck, didn't think it would be a conflict of interest to vote for yourself when you gave yourself coins for free!

That's been pointed out to above, acknowledged as a mistake and corrected. Its disappointing that you just repeat it without acknowledging the steps taken to correct it.  As for specific balances, I'm not getting into that, because it would never end, and I'm entitled to the same privacy as any other shareholders. I suggest you track down satoshi and ask him the same question.

So there is no amount of money that would keep you developing a day longer than you feel obligated to by the stream of freshly issued MMC flowing into your account (1% of the money supply) if you disagree with something the person who replaces you does.

I'd expect to disagree with lots of things, but overall direction is the important thing.

That's a pretty sweet deal, you work on it until someone kicks you out of the job then walk away with the sucker who replaced you doing all the work and you just disappear into the sunset with all the MMC you could grab from the premine and salary firehose.   

Will he be a sucker? I thought you said he would be heavily over-compensated. Make up your mind. I hope that everyone who gets involved with the coin does well out of it as we achieve the aims set forth in the manifesto.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline AdamBLevine

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Again, don't believe everything you read in an internet forum. Sure I have coins from MC1 and the ProtoShares distribution, but it's not hundreds of thousands of coins - suggest you check your sources before repeating them.

You're totally right - How many MMC were assigned to addresses you directly or indirectly control, in the genesis block?    I believe you are the only one who can answer this and it seems like a vitally important transparency issue given this directly impacts voting

When I'm removed as CEO, as will happen sooner or later, I'll have to decide carefully whether its worth my while volunteering efforts in an emeritus role. It'll depend on the new CEO and team and whether they're leading in the right direction. That's the price - a project that I believe in.
So there is no amount of money that would keep you developing a day longer than you feel obligated to by the stream of freshly issued MMC flowing into your account (1% of the money supply) if you disagree with something the person who replaces you does.

That's a pretty sweet deal, you work on it until someone kicks you out of the job then walk away with the sucker who replaced you doing all the work and you just disappear into the sunset with all the MMC you could grab from the premine and salary firehose.   

So, you don't get that acting in a way that is obviously self-serving to the point of being detrimental to the project and having a completely mercenary attitude about the whole thing you reveal that the project isn't about anything other than making you wealthy in a short period of time.   People have *lots* of options, so things like this just aren't selected over the long term.   Again, this would be something a developer who actually wanted a long term project would care about but you seem to just float along.
« Last Edit: January 07, 2014, 05:09:22 am by AdamBLevine »
Email me at adam@letstalkbitcoin.com

Offline FreeTrade

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You gave yourself hundreds of thousands of coins and you can't be bothered to develop without a constant stream of pay?

Again, don't believe everything you read in an internet forum. Sure I have coins from MC1 and the ProtoShares distribution, but it's not hundreds of thousands of coins - suggest you check your sources before repeating them.


Given that you created Memorycoin from a modified version of Protoshares, something you were paid by an outside company to create - exactly how much time did it take you to adapt protoshares to Memorycoin 2?    Lets assume a month of nothing but working on that conversion full time.   How much is your time worth that your pre-mine is not enough to buy even six months of support from you, especially since any successes you have result in that exponential multiplier?

I'm sure you've done the math, what is the dollar based salary for a year of support from you to maintain this thing you've now created twice.   You don't work for free, so tell us what the price is.

When I'm removed as CEO, as will happen sooner or later, I'll have to decide carefully whether its worth my while volunteering efforts in an emeritus role. It'll depend on the new CEO and team and whether they're leading in the right direction. That's the price - a project that I believe in.
“People should be more sophisticated? How are you gonna get that done?” - Jerry Seinfeld reply to Bill Maher

Offline NewMine

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Some coins have a model where a benevolent dev works for free indefinitely on a coin. I don't think that's a sustainable model capable of major growth, and it's not the model here - if that's what you want, there are plenty of coins like that. The MemoryCoin model is development and promotion are paid for through slightly higher inflation, and the shareholders get to vote on who gets paid.


You gave yourself hundreds of thousands of coins and you can't be bothered to develop without a constant stream of pay?

Given that you created Memorycoin from a modified version of Protoshares, something you were paid by an outside company to create - exactly how much time did it take you to adapt protoshares to Memorycoin 2?    Lets assume a month of nothing but working on that conversion full time.   How much is your time worth that your pre-mine is not enough to buy even six months of support from you, especially since any successes you have result in that exponential multiplier?

I'm sure you've done the math, what is the dollar based salary for a year of support from you to maintain this thing you've now created twice.   You don't work for free, so tell us what the price is.

I am curious too. Clear the air.



Offline AdamBLevine

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Some coins have a model where a benevolent dev works for free indefinitely on a coin. I don't think that's a sustainable model capable of major growth, and it's not the model here - if that's what you want, there are plenty of coins like that. The MemoryCoin model is development and promotion are paid for through slightly higher inflation, and the shareholders get to vote on who gets paid.


You gave yourself hundreds of thousands of coins and you can't be bothered to develop without a constant stream of pay?

Given that you created Memorycoin from a modified version of Protoshares, something you were paid by an outside company to create - exactly how much time did it take you to adapt protoshares to Memorycoin 2?    Lets assume a month of nothing but working on that conversion full time.   How much is your time worth that your pre-mine is not enough to buy even six months of support from you, especially since any successes you have result in that exponential multiplier?

I'm sure you've done the math, what is the dollar based salary for a year of support from you to maintain this thing you've now created twice.   You don't work for free, so tell us what the price is.
Email me at adam@letstalkbitcoin.com

Offline FreeTrade

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So a lot of questions raised for me overnight -

I didn't 'crash' MemoryCoin 1. Don't believe everything you read on a forum. The shareholders of MemoryCoin 1 sacked me and the coin withered because it didn't have a dev. I explained the situation to the Bter exchange and recommended they suspend trading for a short time while the news was absorbed. They didn't want to continue with a coin with no dev support and halted trading altogether.

Some coins have a model where a benevolent dev works for free indefinitely on a coin. I don't think that's a sustainable model capable of major growth, and it's not the model here - if that's what you want, there are plenty of coins like that. The MemoryCoin model is development and promotion are paid for through slightly higher inflation, and the shareholders get to vote on who gets paid.

MaxPwr is quite mad, but he's a bit ahead of the game in his suggesting that the 'salaries' are used as corporate operating budgets. We're already seeing that with CTO and CSO positions - they're being distributed between a team. I expect that trend to continue as they become more valuable and competition increases. Overall the amount paid in operating budgets is relatively small in comparison to traditional corporations.

Shareholders can't be guaranteed they'll get good value for money from their chosen candidates - the sanction is choose an alternative until value is found.
 
The block explorer isn't reporting balances accurately - seems to report accumulated inputs as the balance without taking into account the outputs. MCF has about 45k coins combined and there is a very clear statement about it here -
http://memorycoin.org/foundation/
It's a fair comment that I should not be using these funds to vote for myself as CEO - I'll change that to vote for an unspendable address.




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

Offline seraphim

While I can't say anything about the amount of coins FreeTrade is holding, and what he is planning to do with them, I still disagree that the payout for the officers is too high. It is just a question what is being done for the money.
The high reward is thought as an incentive for people to get involved. While it could be enough (just for example) for a professional ad agency to apply as CMO this unfortunately didn't happen yet. But that's neither the fault of FreeTrade nor the other officers.

Compared to other alt coins, MMC already got a lot of infrastructure built around for the short time of its existence. Could be more with better candidates, but we wouldn't be where we are now without the grants.
I believe that FreeTrade thought there'd be a lot more competition for the offices. Seems like the reward is not high enough for professionals to get involved. Reducing the grants to 1/10th wouldn't make that situation better...

It would be hard for any of them to get voted in when FreeTrade appears to have 40k coins worth of votes from the MMC foundation addresses participating in the vote.

Of course I assume that he uses his coins to vote for the best candidate available.
Assuming that address is controlled by him, he just helped to spoil the CMO for now.
according to mmcvotes i see that he voted from his personal address.  I'm just not sure why if he is in control of them that he's using the foundation's coins to vote since it mentions on the foundation's site "To avoid a conflict of interest, MCF does not provide grants or payments to its administrator.".   Isn't it a pretty big conflict of interest that he's using one of them to vote for himself?

As there's no better alternative on the candidates list, and his vote doesn't change anything, I currently don't see a problem with this.
Imo the real problem is the lack of professional candidates, and that only 3-8% of coins are taking part in the voting process.
But there's no one to blame for, so keep on bashing the dev if you need to.
Meet you on STEEM

Offline phrozenspite

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While I can't say anything about the amount of coins FreeTrade is holding, and what he is planning to do with them, I still disagree that the payout for the officers is too high. It is just a question what is being done for the money.
The high reward is thought as an incentive for people to get involved. While it could be enough (just for example) for a professional ad agency to apply as CMO this unfortunately didn't happen yet. But that's neither the fault of FreeTrade nor the other officers.

Compared to other alt coins, MMC already got a lot of infrastructure built around for the short time of its existence. Could be more with better candidates, but we wouldn't be where we are now without the grants.
I believe that FreeTrade thought there'd be a lot more competition for the offices. Seems like the reward is not high enough for professionals to get involved. Reducing the grants to 1/10th wouldn't make that situation better...

It would be hard for any of them to get voted in when FreeTrade appears to have 40k coins worth of votes from the MMC foundation addresses participating in the vote.

Of course I assume that he uses his coins to vote for the best candidate available.
Assuming that address is controlled by him, he just helped to spoil the CMO for now.
according to mmcvotes i see that he voted from his personal address.  I'm just not sure why if he is in control of them that he's using the foundation's coins to vote since it mentions on the foundation's site "To avoid a conflict of interest, MCF does not provide grants or payments to its administrator.".   Isn't it a pretty big conflict of interest that he's using one of them to vote for himself?
supporting Newmine for a fair Memorycoin
https://bitcointalk.org/index.php?topic=389386.0

Offline seraphim

While I can't say anything about the amount of coins FreeTrade is holding, and what he is planning to do with them, I still disagree that the payout for the officers is too high. It is just a question what is being done for the money.
The high reward is thought as an incentive for people to get involved. While it could be enough (just for example) for a professional ad agency to apply as CMO this unfortunately didn't happen yet. But that's neither the fault of FreeTrade nor the other officers.

Compared to other alt coins, MMC already got a lot of infrastructure built around for the short time of its existence. Could be more with better candidates, but we wouldn't be where we are now without the grants.
I believe that FreeTrade thought there'd be a lot more competition for the offices. Seems like the reward is not high enough for professionals to get involved. Reducing the grants to 1/10th wouldn't make that situation better...

It would be hard for any of them to get voted in when FreeTrade appears to have 40k coins worth of votes from the MMC foundation addresses participating in the vote.

Of course I assume that he uses his coins to vote for the best candidate available.
Assuming that address is controlled by him, he just helped to spoil the CMO for now.
« Last Edit: January 07, 2014, 02:00:59 am by seraphim »
Meet you on STEEM

Offline phrozenspite

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While I can't say anything about the amount of coins FreeTrade is holding, and what he is planning to do with them, I still disagree that the payout for the officers is too high. It is just a question what is being done for the money.
The high reward is thought as an incentive for people to get involved. While it could be enough (just for example) for a professional ad agency to apply as CMO this unfortunately didn't happen yet. But that's neither the fault of FreeTrade nor the other officers.

Compared to other alt coins, MMC already got a lot of infrastructure built around for the short time of its existence. Could be more with better candidates, but we wouldn't be where we are now without the grants.
I believe that FreeTrade thought there'd be a lot more competition for the offices. Seems like the reward is not high enough for professionals to get involved. Reducing the grants to 1/10th wouldn't make that situation better...

It would be hard for any of them to get voted in when FreeTrade appears to have 40k coins worth of votes from the MMC foundation addresses participating in the vote.
supporting Newmine for a fair Memorycoin
https://bitcointalk.org/index.php?topic=389386.0

Offline isaacgoldbourne

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While I can't say anything about the amount of coins FreeTrade is holding, and what he is planning to do with them, I still disagree that the payout for the officers is too high. It is just a question what is being done for the money.
The high reward is thought as an incentive for people to get involved. While it could be enough (just for example) for a professional ad agency to apply as CMO this unfortunately didn't happen yet. But that's neither the fault of FreeTrade nor the other officers.

Compared to other alt coins, MMC already got a lot of infrastructure built around for the short time of its existence. Could be more with better candidates, but we wouldn't be where we are now without the grants.
I believe that FreeTrade thought there'd be a lot more competition for the offices. Seems like the reward is not high enough for professionals to get involved. Reducing the grants to 1/10th wouldn't make that situation better...
Initially a lot of coins are released, this slowly lowers until they are not earning many MMCs. At first it was needed, so that we can get the core infrastructure i.e pools, gambling, block exlporers etc and then it slopes off. In 2 weeks we have more than coins like quark have. Now we just need the value to follow.
MemoryDice now available! https://bitsharestalk.org/index.php?topic=1886.0
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