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Author Topic: Memorycoin Update v3.0 - The Market Correction is Coming!  (Read 2640 times)

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Offline Delinquency

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Memorycoin Update v3.0 - The Market Correction is Coming!
« on: October 03, 2014, 03:38:41 PM »
Hello Memorycoin Community, passive followers, and greetings to the cryptocurrency community. On behalf of the Memorycoin Dev. Team, we are pleased to announce several changes to the Memorycoin code to be rolled in an update called v3.0, fixing some crucial flaws and optimizing the code. Many of these changes have been in development for a while and even with a limited pay, we were able to push these through without an issue.

First of all I’d like to compliment FreeTrade for his astute coding when he created Memorycoin and possibly Lottoshares as well. There were several things problematic with the Memorycoin code by FreeTrade, outlined very shortly below to reduce trolling:
• Grant Awards only reward 5.66% of supply.
• 10 million coin cap supersedes the 2.15 minimum block value.
• Grant awards were not calculated against this 10 million cap and there was unexpected hyperinflation.
• 10 million coin cap will be hit within weeks of after the first year.
• 2% inflation cannot work if there is 10 million coin cap.

There are several things we’re going to change in the v3.0 update:
o NPrecompiled executables will be provided, as well as virus checks.
• Officer Discussion Board for the development of the coin is now closed to the public and only disclosed to shareholders and other team members.
• Grant awards will now reward 6.00% of supply.
• The 10 million market cap will now be hit after the first year, through reducing the block reductions until the 52nd week.
• 2.00% of the supply will be computed and supplied at a constant rate for the next years.
o 200,000 MMC will be minted between the 53rd and 102nd week since the coin launch.
• In order to optimize the block-chain, we’re increasing block time to eight minutes. The supply will be increased by 33% to satisfy the same supply period, but also relying on a decreased reduction to reach 10 million coins by the 52nd week.
• We are increasing the interval of grant block reward times to every 8 hours, as opposed to every 2 hours to reduce block-chain bloat – also making elections more competitive to candidates who appeal to different regions in the world (3 elections per day).
• Temporal Block Retargeting (Faster difficulty changes in order to reduce multi-pool or potentially aggressive mining.)
• The new Memorycoin executables will be uploaded and distributed within the next week.


There are more changes to be made, and will be rolled in the next v3.1 update including some of the following:
• Grant Database optimization.
• Votes of Decay, encourage competition between running candidates.
• Proxy Voting, and Resignation Options.
• More shareholder features: Yields over time to combat inflation.


The market correction is coming! Hoard all of  the MMC and mine while supply is still high!
« Last Edit: October 17, 2014, 12:31:19 PM by Delinquency »

Offline biophil

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Re: Memorycoin Update v3.0 - The Market Correction is Coming!
« Reply #1 on: October 07, 2014, 02:15:30 PM »
It's extremely troubling that you are going closed-source on this. I will certainly not be downloading a closed-source client; I will probably move all my MMC to Bter before the hard fork. What's this innovation you're so afraid of the "competition" stealing? And when has MMC's marketing gotten so poor that you can't take advantage of first-mover advantage? You're testing my already-thin confidence on this one, Delinquency. I won't panic-sell, but I have a feeling that I'll come to regret that decision.

Offline Delinquency

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Re: Memorycoin Update v3.0 - The Market Correction is Coming!
« Reply #2 on: October 07, 2014, 02:39:15 PM »
It's extremely troubling that you are going closed-source on this. I will certainly not be downloading a closed-source client; I will probably move all my MMC to Bter before the hard fork. What's this innovation you're so afraid of the "competition" stealing? And when has MMC's marketing gotten so poor that you can't take advantage of first-mover advantage? You're testing my already-thin confidence on this one, Delinquency. I won't panic-sell, but I have a feeling that I'll come to regret that decision.
Because of the risk of second-mover advantage. The crypto-currency world is already very thin and not used by a majority of people, but this will change over time.

Do you think that close-sourced code with the most amount of transparency won't work for you? You may choose do as you wish with your coins.
Just because marketing is what it is doesn't mean we can sacrifice on some technical improvements. Especially when the model of this coin is to show that our competition will and can succeed other alt-coins in the long-run.

Offline sgsong

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Re: Memorycoin Update v3.0 - The Market Correction is Coming!
« Reply #3 on: October 10, 2014, 09:33:27 AM »
"• Source code will be closed to the public................................";
  no zuo no die.

Offline Delinquency

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Re: Memorycoin Update v3.0 - The Market Correction is Coming!
« Reply #4 on: October 16, 2014, 05:03:04 PM »
Here are the exact estimates of V2 supply Excel worksheet if you think the old network can survive:

These data are based on the current V2 code.
« Last Edit: October 16, 2014, 05:05:50 PM by Delinquency »

Offline Delinquency

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Re: Memorycoin Update v3.0 - The Market Correction is Coming!
« Reply #5 on: October 16, 2014, 05:14:37 PM »
Here is supply V3: The real deal.
This supply schedule has a more aggressive mining schedule than ProtoShares, and can become synchronous with fiat because of its 2% inflation.
« Last Edit: October 16, 2014, 05:28:28 PM by Delinquency »

Offline Delinquency

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Re: Memorycoin Update v3.0 - The Market Correction is Coming!
« Reply #6 on: October 17, 2014, 12:31:45 PM »
OP has been updated, listing that our open-source code will remain open-source.