Pre-Mine concerns

[stickhead]

Jeeez what a soap story this coin... It's a shame this happens on the bitsharestalk board and it only hurts the good reputation of Invictus. If this coin was honest all this drama never happened!!

Sorry to say but this coin is doomed and can never be used for a honest voting system after all what happened... What goes around comes around!? Maybe launch GreedCoin where MMC2 will be included in the genesis block... I think this name fits a whole bunch off people involved with MMC

[isaacgoldbourne]

Well there is the whole issue of 40k coins from the MCF that he was using to vote for himself before we pointed that out.

[...]

both voted for you, newmine would've won otherwise.
There are a number of other votes where the deciding support is from the MCF funds.  It's obvious why you're not opposed though. 

You never mentioned that you regard the MCF funds voting for other officers to be a problem too. The discussion was about him voting for himself.

The people he voted for were chosen well.

For example at the beginning one large holder had voted himself into CHA and CMO. He used the funds to remove them from positions and replace with SeansOutpost (me) and Belltown.

[seraphim]

Well there is the whole issue of 40k coins from the MCF that he was using to vote for himself before we pointed that out.

[...]

both voted for you, newmine would've won otherwise.
There are a number of other votes where the deciding support is from the MCF funds.  It's obvious why you're not opposed though. 

You never mentioned that you regard the MCF funds voting for other officers to be a problem too. The discussion was about him voting for himself.

[isaacgoldbourne]

You want to know how much MMC coin freetrade hold on block 1, it's easy :

- He is holding the memorycoin 1.0 he mined (converted to MMC on block one) as everybody else !
This is usually private information and we generally didn't expect people to disclose it even coin dev.

- He is holding the memorycoin 1.0 he won from grant (converted to MMC on block one) as everybody who won grant !
This is public information, and you can find it in the blockchain from memorycoin 1.0

- He is holding the memorycoin 1.0 he won from MemoryCoinFondation grant (converted to MMC on block one) !
This is public information, and he should use it to fund some bounty for MMC, since he was just the manager of MemoryCoinFondation.

- He is holding Protoshare he mined  (converted 10% to MMC on block one) as everybody else !
This is usually private information and we generally didn't expect people to disclose it even coin dev.

So you have your answers, make search for the ones that are public, or ask Freetrade if you are too lazy and he is willing to help someone that is spreading FUD.
But don't expect the private info to be released, even thou you could grasp some on the blockchain if you take some time instead of trolling.

I wasn't going to post on this issue anymore, but GD, you guys just don't seem to see the forest through the trees.

MMC is based upon elected paid positions and being GPU resistant. This is what was to separate it from other alts.

GPU resistant failed, but that is not the issue I have.

The elections being based on the number of MMC is where I take issue.

FreeTrade has given himself a lot of coin from the pre-mine. MCF was to get the only non diluted cut of the pre-mine. MCF seems to have ~40k coins.  If you look at the genesis block you will see 2 addresses that received ~80k coins each. Since no PTS holder could've been holding 10x 80k coins as it was not possible, it is safe to say those coins went to memorycoin 1 contributors.  FreeTrade being the creator of memorycoin 1 most likely would grant himself the largest share of the contributors. 80,000 coins is more than 10% of the pre-mine alone.  If FreeTrade holds this coin it compromised the integrity of the elections from day 1. These holdings made FreeTrades election undisputed and guaranteed. Guaranteed until the GPU aspect failed and some large players stepped in. Had FreeTrades plan worked, the coin would have held off the GPU miners and FreeTrade's seat would have never been challenged as a CPU coin. This all the while the 2 positions he held kept paying more and more coin. (Yes, he only holds one now, most likely due to my original concerns and him trying to distance himself from the issue).

I think in the interest of the coin FreeTrade should only divulge what coin he was awarded from block 1. Or he should take his coin and step out of the position and not use his votes for a replacement.

This way you will all know what the elections are really about: are they for the Coin or are they for Freetrade's wallet?

Side note-

I thought it was quite interesting that bytemaster came forward seeming to distance himself from FreeTrade. Maybe bad blood, nonetheless interesting though.
https://bitsharestalk.org/index.php?topic=2047.msg24598#msg24598

I'm not going to comment on the rest, as I don't thing 80,000 constitutes a big deal but GPU resistance did not fail. 4x performance increase (power wise) is VERY resistant. You can still mine and beat power costs on a CPU

[Linolis]

He, and several of the officers here would have lost their seats already if it wasn't for his backing from the foundation

Lost to whom? As far as I can see, the current officers have contributed greatly to MMC. Officers have also lost their seats when they've failed to due their job and a better candidate emerged. You can argue about voter participation (7% of MMC voting is pretty abyssal), but I wouldn't say it's rigged. If even 30% of all MMC holders voted, Freetrade's vote would count for little. Hell, with only 7% voters participating, my vote counts for 10% of the elected candidates total votes.  That's huge. The issue is more about getting more people to vote. However, I don't think that would change much, if anything, since the current officers are doing quite well.

[phrozenspite]

MMC is based upon elected paid positions and being GPU resistant. This is what was to separate it from other alts.

MMC elected positions is still unique as an altcoin. Many positions have changed hands through voting, and the amount of work that has been put into this coin in such a small amount of time has been astounding. All of this work would not have happened without the incentive of paid positions. 1% of the coin for each position does seem high. .5% or .25% would be more reasonable. If you're getting 575+ coins a day for your position, you can still make off decently selling right away. Now, hopefully, the officers realize the potential of the coin, and realize that the current price of $0.25 is not much compared to the $1-2 per coin in the near future. However, a few may be willing to simply sell right away. Freetrade being CEO is fine. He created the coin, why shouldn't he in one of the officers to promote the coin?

About being GPU resistant, sure that surprised me. However, it's not that crazy, it terms of advantage. Even in the current state, my 7950 gets 13 hpm (overclocked 1050/1450), while my 3770k i7 gets 3.3 hpm (not overclocked). That's about a 4x increase using GPU. However, a 7950 is also more expensive to buy, and uses over double the power. Plus, yvg1900's optimized mmcminer is rumored to increase a CPU's hpm by 3x (thus a 3770k would give you 10hpm). The beta version of this miner is already out in private testing. This will equalize CPU/GPU mining, until a more optimized GPU comes out.

the point being made here is that the voting is basically rigged right now since FreeTrade still decides it with his own funds, and with funds from the MCF foundation that were generated from the start of the coin.  He, and several of the officers here would have lost their seats already if it wasn't for his backing from the foundation

[phrozenspite]

He did that, i think it's his right to do it, and it didn't change anything regarding the outcomes.

And with that the issue is done for me. Lost enough time on it I could have used for much more reasonable tasks.

http://mmcvotes.com/block/5440
M9rJudKWdiE4dQd2K6DD9bLtkviKwnhNZG
MHodpHe3qVMzGKtgcrjwRQdvUTEyaXfHPE
both voted for you, newmine would've won otherwise.
There are a number of other votes where the deciding support is from the MCF funds.  It's obvious why you're not opposed though. 

[Linolis]

MMC is based upon elected paid positions and being GPU resistant. This is what was to separate it from other alts.

MMC elected positions is still unique as an altcoin. Many positions have changed hands through voting, and the amount of work that has been put into this coin in such a small amount of time has been astounding. All of this work would not have happened without the incentive of paid positions. 1% of the coin for each position does seem high. .5% or .25% would be more reasonable. If you're getting 575+ coins a day for your position, you can still make off decently selling right away. Now, hopefully, the officers realize the potential of the coin, and realize that the current price of $0.25 is not much compared to the $1-2 per coin in the near future. However, a few may be willing to simply sell right away. Freetrade being CEO is fine. He created the coin, why shouldn't he in one of the officers to promote the coin?

About being GPU resistant, sure that surprised me. However, it's not that crazy, it terms of advantage. Even in the current state, my 7950 gets 13 hpm (overclocked 1050/1450), while my 3770k i7 gets 3.3 hpm (not overclocked). That's about a 4x increase using GPU. However, a 7950 is also more expensive to buy, and uses over double the power. Plus, yvg1900's optimized mmcminer is rumored to increase a CPU's hpm by 3x (thus a 3770k would give you 10hpm). The beta version of this miner is already out in private testing. This will equalize CPU/GPU mining, until a more optimized GPU comes out.

[belltown]

We all were defeated from block 1. This is what you don't get.

No, NewMine. You are defeted. Because we all voted for current CEO, and we all think it's dumb to vote the founder out of what he created.

If you disagree, you still can win. System still works great. There are over 2M coins out there, go buy some coins on bter and vote for the dumb couse only you beleive in.

[seraphim]

He did that, i think it's his right to do it, and it didn't change anything regarding the outcomes.

And with that the issue is done for me. Lost enough time on it I could have used for much more reasonable tasks.

[phrozenspite]

The only thing bm says in this posting is that FT wasn't interested in continuing his work for 3I, because he had other plans. And that he couldn't change his mind by offering a paycheck.
He promised MemoryCoin beta participants to continue working on it, and he fulfilled that promise.

Now about the numbers:
If he was holding 80k coins from start, that's about 10% of the premine. While his vote counted a lot (as it should in the beginning imo), it never was like he could decide alone.
You tried hard convincing the community to vote him out. You failed. And not because he is holding too many coins, but because a lot of people seem not to mind, what tells me they feel like he's doing a good job.

Accept your defeat, leave us alone. It's getting absurd.

Well there is the whole issue of 40k coins from the MCF that he was using to vote for himself before we pointed that out. 

[seraphim]

The only thing bm says in this posting is that FT wasn't interested in continuing his work for 3I, because he had other plans. And that he couldn't change his mind by offering a paycheck.
He promised MemoryCoin beta participants to continue working on it, and he fulfilled that promise.

Now about the numbers:
If he was holding 80k coins from start, that's about 10% of the premine. While his vote counted a lot (as it should in the beginning imo), it never was like he could decide alone.
You tried hard convincing the community to vote him out. You failed. And not because he is holding too many coins, but because a lot of people seem not to mind, what tells me they feel like he's doing a good job.

Accept your defeat, leave us alone. It's getting absurd.

[barwizi]

if(nHeight<7){
return (200000*COIN); // 6% premine 1 million coins as float for operations (you can ask for further explanation if you do not trust me) and the rest i  will divide between Bounties and my own pocket

extract from MMC 2.0. Does that answer the question? Now can you just let this thread and others like it DIE!!

[SlyWax]

You want to know how much MMC coin freetrade hold on block 1, it's easy :

- He is holding the memorycoin 1.0 he mined (converted to MMC on block one) as everybody else !
This is usually private information and we generally didn't expect people to disclose it even coin dev.

- He is holding the memorycoin 1.0 he won from grant (converted to MMC on block one) as everybody who won grant !
This is public information, and you can find it in the blockchain from memorycoin 1.0

- He is holding the memorycoin 1.0 he won from MemoryCoinFondation grant (converted to MMC on block one) !
This is public information, and he should use it to fund some bounty for MMC, since he was just the manager of MemoryCoinFondation.

- He is holding Protoshare he mined  (converted 10% to MMC on block one) as everybody else !
This is usually private information and we generally didn't expect people to disclose it even coin dev.

So you have your answers, make search for the ones that are public, or ask Freetrade if you are too lazy and he is willing to help someone that is spreading FUD.
But don't expect the private info to be released, even thou you could grasp some on the blockchain if you take some time instead of trolling.

Um, there's the problem, people have asked FreeTrade multiple times and he refuses to answer

Which perfectly makes sense since you are asking for the private info mixed with public one.
So don't be lazy and go get the info, and report back to us. Otherwise, well stfu...

[seraphim]

And he made clear he won't. Deal with it.