Author Topic: I would like to submit this for comunity review and consideration  (Read 603 times)

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Offline robonix

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I copypasta'd and added a little bit here and there to parts of memorycoin.org to create a form letter that I would like to send to charitable organizations. so that they can compete for the [CHA] Grant.

[CEO], [CTO], [CNO], [CMO], [CSO] or [CHA] approval would be nice before I start sending out emails

This is what I have so far:

Hello,

My name is Robert and I’m a member of the MemoryCoin Community, I would like to let you know that any charitable organization can publicly declare its self a candidate to become MemoryCoin’s Official Charity and receive a 1% donation of all coins mined; this amount comes out to be about a few hundred dollars a day.

Cryptocurrencies received a lot of media attention last year after many early adopters became millionaires, but with the creation of new, faster and specialized chips, mining these other cryptocurrencies is no longer accessible to the average user.

MemoryCoin is a new cryptocurrency that aims to empower the economically and financially marginalized. It allows individuals to participate in the internet economy even when they live in countries where credit card companies and PayPal refuse to operate. Individuals can store and transfer wealth with just a memorized pass phrase.

MemoryCoin is based on the Bitcoin code, but with some key differences.

Distributed Mining
MemoryCoin decentralizes currency mining. While Bitcoin mining requires the use of expensive, specialized hardware, MemoryCoins are efficiently mined on ordinary computer hardware like PCs and laptops. Anyone can download a program and start mining MemoryCoin.
Decentralized mining ensures:

•   a wider and fairer distribution of the currency
•   easier to obtain – anyone with a computer can do it
•   participation for the economically marginalized – individuals don’t require an account with a bank or exchange – anyone can mine new coins with a PC by consuming electricity

Rapid Mining
To encourage participation, MemoryCoin has a rapid mining schedule. Mining rewards are reduced by 5% each week for the first two years. That means that 90% of all MemoryCoin will be created in the first year. 10% will be created in the second year. Thereafter 2% a year will be created as a steady inflation.

The mining schedule ensures a rapidly increasing price for MemoryCoin and thus encourages participation and adoption. After two years, the cost of mining MemoryCoin is expected to be slightly below the cost of electricity required to mine it.

MemoryCoin Grants
5% of newly mined MemoryCoins are awarded as grants to finance development, support and marketing. Anyone can apply for a position and the winners are selected by a vote of MemoryCoin holders. This ensures that a continuous stream of coins is available for projects and efforts that benefit MemoryCoin. 1% of all newly mined coins are earmarked for charity, also voted for by MemoryCoin holders. This is where we come in, to apply for the grant a special voting address is required A voting address is a valid MemoryCoin address that starts with the letters MVTEceo, MVTEcno, MVTEcto, MVTEcmo, MVTEcso, MVTEcha. The seven letters at the start determine which position you are voting for – an address that starts with MVTEcha is a vote for the charitable organization.

To generate an MVTEcha address a script needs to be downloaded and run on your computer then this address can be imported in to any MemoryCoin wallet. The next step would be to publicly announce on your website that you accept MemoryCoin donations and post the MemoryCoin MVTEcha address on your website in your donations area in order to receive donations from MemoryCoin holders and at the same time lets the voters know that this is the official address to send votes that will count towards your charitable organization being voted in as the official MemoryCoin charity, although I must point out that votes can change every two hours so wining over votes does not guarantee that your charitable organization will always receive the grant. This allows all charitable organizations a democratic oportunity and it raises MemoryCoin awareness. For more information on how to generate a special address for your charitable organization please visit http://memorycoin.org/board/ it is recommended that you have your IT department look in to this because it is a somewhat technical process if you have any question email me or visit the official MemoryCoin forum at https://bitsharestalk.org/index.php?board=35.0

Robert Navarro
[email protected]
https://bitsharestalk.org/index.php?action=profile;u=5556


If any one has any suggestion I would really like to hear them....
« Last Edit: January 08, 2014, 06:07:42 am by robonix »

Offline MaxPWR

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Re: I would like to submit this for comunity review and consideration
« Reply #1 on: January 08, 2014, 06:31:48 am »
Good start, better than I'd do.

IMO, I would not have them control the MVTEcha address.  You make the address, and you control the wallet, tell the community what you would do, and send Satoshi from your past accounts.  MMC users trust you because of your past account history, not "whoever" made the brand new MVTE address.

Real-world charity makes a new MMC account.  You send it Satoshi.  You handle the MMC exchange between them.  Seems like this makes sense for how the trust chain would be passed on and not broken?

You can't stop the signal, Mal. Everything goes somewhere, and I go everywhere.

PWR UP: MAXVTEoYhDfWJjvkNm2ZmUhHpYbsPYuybg