Memorycoin Community Votes in a New CEO, FreeTrade Gracefully Passes the Torch. New CEO Delinquency Releases Statement.

Scott Fargo @TalonTech1
April 5, 2014

The new CEO of Memorycoin, Delinquency, took the time to respond to my questions after his successful campaign.  As many of you know, with the previous iteration of Memorycoin FreeTrade the outgoing CEO shut it down. This time the transition has been smooth and community support has been creating a backing behind Delinquency.
He has a clear vision of how he wants to keep Memorycoin growing and helping people while bringing a cohesive framework to the Memorycoin team and community.

Delinquency posted his response to my questions about the transition on

Memorycoin Voting

SF:  Outline your plans and basic time frame for implementation.

Delinquency:  I have an aggressive plan for Memory Coin, and it will be dependent on the team’s willingness to participate. Within a few hours of becoming CEO, I was introduced to their collaborative tool, slack. Slack is a very easy real-time messaging system, great for communication, but not for getting work done. I’ve had a chance to personally message most of the active members on our team, and they are certainly delighted to have me working with them.

Memory Coin has captivated me from the start. It was a coin made for the “economically and financially” marginalized. This will mean that anyone can start mining, and big investors who start mining operations won’t see a particularly huge advantage over normal miners.

I’d honestly like to equip Memory Coin with capabilities of infecting the world through social media and the internet. So say, you did not even know what Bitcoin was and wanted to learn about Memory Coin? We would have to design our applications to be presentable to the new users. This means modifying Memory Coin’s user interface and website to actually appeal to ‘your grandmother’. The phrase ‘your grandmother’ refers to a computer-dumb, non tech-savvy person who barely uses a computer. I feel that since Memory Coin was created for the purpose of everyone, it should be understood by everyone in the best way possible, as well.

Within a few days, I’d like to create some detailed guides on how Memory Coin works, and why it will survive. These guides will ultimately be worked on by the community and developer team so that it’s easily interpreted by an ordinary person and in almost every language. We’ll also have a guide on the unique structure of the coin and why it will succeed other coins.
In the same timeframe, I launched I invested slightly in an expensively reserved instance on Amazon EC2 because I knew that it worth it! This website is going to be our new home, and we know that the website just can’t remain in the forums forever. Since all of the memory coin projects are open source, we plan on hosting them on our server, including a p2pool, Electrum server, and host the memory wallet code.

I’m still getting to know everybody on the team. Our team’s relationship with each other is crucial to the success of the coin. I’d expect this learning process to take a few more days because there are four other members, and I have only reached out to a few of them.

I have plans to create several Memorycoin Videos in the next week and am committed to working with our community to help publicize Memorycoin.

SF:  How do you feel the transition has gone?

Delinquency:  The transition of becoming CEO was exhilarating. There were different emotions going through my mind. I kept thinking about how running against FreeTrade might put me on his bad side. That’s why I left a whole paragraph about him and how I wanted to make sure I had nothing against him, and that I had the same ideas as he did as CEO.

I also thought that it would be hard to be elected, amongst other things. I did not think it was that easy to catch shareholder’s votes. I assumed that I had to do things such as providing for the community first before they voted for me. All I gave them were words, ideas, but no developments. In the end, I knew that I had convinced the community because I got elected as CEO in a short amount of time.
The transition of joining our collaborative board was simply easy. I got used to the software (slack). I had a situation with attempting to contact everyone on the team and being criticized by a candidate at the time. It was hard for them to change to the new CEO as well, as they were used to minding their own terms and going about their own business – and I did not like the fact that we all had a redundancy of websites. Everyone wasn’t working together, and projects were not being completed.

I’m not going to give up because someone has mocked me or disrespected me. If we all want Memorycoin to succeed, the team and I have to put more work on development and collaboration, and that’s exactly what I want to achieve as CEO.

Being CEO is a big responsibility. Whatever I decide to publish has a direct impact on the community around us. Whether its good or bad will be reflected on the market price. As CEO and part of the main team of five other talented individuals voted by the block chain, I think that I cannot affect the coin as much as if one of the others has released information that may affect the valuation of MMC.

As CEO, I will not call for trading halts on exchanges unless there is an absolute necessity to. I cannot think of any instances off the top of my head because I have never had to deal with it. Just because trading is still open and causes more volatility in the market during a news or important release does not mean people have to trade it and aren’t always exposed to the event risk involved. People are trading just before and during the release because of very mixed expectations.

SF:  How do you feel about being CEO?

Delinquency: I enjoy every minute of being CEO. We all know it’s a hard job and knowing that the community believes in my ideas excels and motivates me. Even if I get voted off the team, I’ll still be working hard to continue campaigning towards becoming CEO again. Shareholders need to know how consistent the candidates are willing to work to base their expectations for the development in Memorycoin. Also from another point of view – technically, each next candidate is going to receive less payment for each grant block because of the reducing block reward so I do not see any problem with serving my term to its fullest, even if other CEO’s get the job.

Being CEO sometimes puts too much pressure on and I just know that if I stress out too much; I can just hit the gym and lift heavier weights to reduce stress (this method always works, lol). Besides from that, after long days of working; I’m only human, I get tired just like anybody else. Sometimes I worry because if I screw up, the coin can take a hit, but I may screw up my reputation with the community and lose votes. I just try to tell myself that everything I do or attempt to accomplish are just steps closer to helping aiding the adoption of Memorycoin. It’s important to try to not do anything wrong because little things can make big changes to the future of Memorycoin.

SF:  How has Memorycoin and Bitcoin changed your life?

Delinquency: Cryptocurrencies are the future. I truly believe that the best currencies cannot fluctuate as much as 2-3% within a week unless there is a serious problem with the system. In contrast to normal currency, the banks print the money not mostly in physical form. Most of the money is printed electronically. This is happening all the time on Forex markets as huge banks who wish to profit minimize and/or increase profits by trading for another currency. I trade the Forex markets and know exactly what moves a currency. It’s very volatile, and if you get to look at it, the market is completely irrational and liquid.

Memorycoin is a change to that. Demand is automatically shaped; supply is always decreasing, and there’s no telling that the developer team cannot succeed. Plus, everyone can play a role in the dynamics of Memorycoin by using their voting powers. The only dilemma we may need to work on is that bigger shareholders may be counted as more votes in the system.

BTC/Fiat is a disaster. I’ve never seen such dramatic changes in price that has outright depressed all cryptocurrencies as a whole. Bitcoin has taken a hit with the shutdown of the major exchange mtgox, but it was obviously MT (Empty) to close down to hackers emptying their reserves. You could have seen this happening from a mile away – their banks were shut down in the US and withdrawals already took more than three weeks to process. Now with all these issues with China banning banks from using the instrument Bitcoin and the US trying to tax our gains on profits from bitcoin, the community is bound to be mixed on how Bitcoin can survive in the future.
Anyway, I never really invested into Bitcoin, but I played a part in my role as a miner. Mining Bitcoins were very easy especially when the difficulty was low and before ASICs came out, and since there were some websites that accepted Bitcoin in exchange for their services, I just sent my Bitcoins to their payment address and got what I needed without having to use a credit card. If I had known of the potential price spike of Bitcoin to over $1,000, I would have held every one of them instead of gambling them on satoshidice.

Memorycoin was definitely a big hit when it came out. Everyone went smooth, and our developers pushed new projects out very quickly. However, the past haunted the present. People who already opposed the coin and the maker already started their campaign to corrupt the coin. It was just bad to have someone do that to any coin, but I truly believe that, in the end, Memorycoin will eventually lead to greatness.

Memorycoin Donate to Charities World Wide

Memorycoin Video

Memorycoin is on solid footing with Delinquency as the new CEO and it is already moving forward to a more secure future.  Additionally, FreeTrade gracefully stepping down when the voting was done is also a huge boon.  I think big things are in store for Memorycoin now, and it will continue to grow and help people.
Delinquency is already hard at work  behind the scenes with the other officers and they have even gotten a new forum up.

Last modified (UTC): April 20, 2014 02:07

Tags: market
Scott Fargo @TalonTech1

I am a disabled former Systems Admin, computer tech, business manager enjoying crytpo currencies. I am deeply involved in the mining ecosystem and physical coins, It fascinates me how it has brought people from all over the world together into a tight knit supportive community with commerce and tech.