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on the website it says first digital nation and pays interest to savings accounts premined locked away not even the developers have access I started mining it anyone know anything about it seems insanely crazy got my attention

just started mining mined 11 MTC so far. They are talking about creating a city.

The main pool is 24000 khash already steady in 4 days
and there is an other pool but its less

mtc.coinminerpool.com

Marinecoin to the moon

check out their website http://www.marinecoin.org

I am mining MTC for couple of days now, also exchanged some EXN to MTC on the marinecoin webpage, I think these guys are onto something locking away pre mined to pay interest and create cities crazy ideas that's where I am at,

 they also manifested a fiscal policy white paper I think it is worth a read.

go MTC

a women miner at the MTC pool which pool are mining @

creating a city? in minecraft?

What the heck???

I have no idea what I read there.  They want to create a city?  And something about getting interest for retirement?  I wonder if they mean they have PoS, which does pay you "interest" on coins that are aging in your wallet.  But they are definitely not the first coin in the world to do that.  If anyone has more info on this one, let me know, it sounds weird but interesting.


Looks like the Coin itself is 2 minute block time, and 1 coin reward for the next 1000 years, with no halving ect.  What's very odd, is the website is/should be their sales tool to tell people what they are doing but instead they want you to e-mail them to get the basic info of the coin.

Hector I mining the http://mtc.coinminerpool.com which one are you mining?

Monica I was mining at the same one up until 10 minutes ago but my GPU keeps on overheating got to do some adjustments will be back we will contiue the chat

OK Hector, I guess you are not a happy MTC miner :) I will check back we will continue our discussion

Monica

I am back mining, do we know who the marinecoin developers are? I am giving the benefit of the doubt because of the ideas they have, if this goes mainstream which no one knows what can go mainstream these days (PSY) :)

 MTC seems to have a potential, honestly people have been mining alts like it is a sport wasting electricity feeding the scammers, I have a gut feeling this is not one of them.

Hector

I to have the same feeling as women 6th sense maybe, I just heard some chatter over the other forums about the developers. I don't know exactly who they are? Just the leading developer is a German guy who is ultra rich, or his father is extremely rich, and he is dead serious about the marinecoin project. I don't think this done to scam people but this is just a chatter don't take my word for it.

Monica

Sounds interesting, where are you located?

This coin isn't taking over anything with it's homepage having that kinda font.

Did the web guy not know anything about usability or accessability?  ??? ???

Yeah they got to fix that, terrible in design agreed

They don't even try any more... ::)

True I however liked it compared to the others where they just list the technical aspects of the coin and a wallet download link, and expect you fall for it.  I am professor at London school of economics, I have been following the crypto craze for a few years and had been waiting for a more serious approach to crypto. this MTC seems to be the best one and probably the only one with that kind of approach so far.

I think what is going on in this thread is pretty lol.

Pretty certain this is my favourite thread of the day

BAHAHAHAHAHA  :D

I seriously doubt any "professor" would use poor grammar and capitalization  ::)

Hector I too in London, I work for one of the biggest investment firms here, my boss started buying millions dollar BTC to the firms investment portfolio, but later they decided to dump it all said BTC was too risky, he is looking into alts right now that's how I got into this crypto thing, but that's where money is at.

scooby903

A really drunk professor can do what he wants with his capitilization while typing on his smartphone

Monica you are still here

Lol. How long are you going to carry on this bullshit convo with yourself? Please don't think that just because I'm the first to call you out on this that no one else has noticed it.

Edit: Just noticed I wasn't the 1st actually, just makes it more lol though.

metiscoin = MTC

marinecoin = where do you see a "T" in that name?

 ??? ???

I think the T comes from Maritime Network marinecoin belongs to and its the official coin of the network that they are creating with various other alt coins they are talking about hundreds

Hector we will talk tomorrow once you sober up this has been an interesting conversation

Just a question: Why do people compare Pos with earning interest?
Interest (invented by the Jewish bankers) is not the same as business as it is an unfair/injustice way of gaining money and disadvantages other people.

An example of interest:
Lending money to a needy person and expecting him/her to pay an extra amount on top of it, which will grow bigger and bigger if this person struggles to pay it back on time.
There are two solutions for this: 1) You lend money and expect the same amount back. 2) You give the money as a way of investment - so you will make profit or loss accordingly

Another example of interest:
You swap a loaf of bread against 2 loafs of bread.
You alsways need to change the same amount of exact the amount in case it's the same type (bread for bread, salt for salt, gold for gold etc.)


To be very honest I don't understand cryptocurrencies very well but I would appreciate it if someone could explain me why the "profit" from forging is compared to interest and therefore an injust system.

Could Monica and Hector be one and the same person or they collaborate intentionally with each other in order to promote this coin  ??? ??? ??? ??? ??? ???

akaCash would you explain this person the difference since you seem to know it all make sure to use good capitilazation sorry samysamy if I try to explain it akaCash will smash me into pieces and I don't want that to happen sorry kiddo.

no samy I am actually a AI robot, created by marinecoin, I am the first prototype of many to come that will promoto MTC   : ::)

To Samysamy1:

The way a PoS coin works is that it essentially pays you to keep your coins untouched in your wallet.  In a PoS coin, the longer you leave your coins untouched in your wallet the more Coin age they accrue.  This Coin Age mines the PoS part of the coin (Making it more energy efficient), and alot of coins have average interest rates the PoS pays out.  It's not much, usually around 5% a year.    Meaning if you left 1000 coins in your wallet for a year, and never touched the coins, added more to your wallet or mined with the PoW part of the wallet, at the end of the year you should see about 1050 coins sitting there, which is what I call gaining interest.

Since you don't understand cryptocurrencies very well, I will give you a brief description of what I have picked up so far.  Most cryptocurrencies work on the basis of a PoW system.  The way a cryptocurrency works is everyone is sharing the blockchain.  It's all on a Peer to Peer network.  If we lived in utopia, where there was no such thing as theft, the blockchain could exist without a single watt of power being used for keeping the chain secure.   What they devised instead since we know many people steal IRL was to get all the computers play an energy sucking game with the voting of which chain is the correct one going to the person that finds the block.  If a person or entity can find multiple blocks in a row, they can effectively tell the network that the blockchain they created is infact the correct one, and the one that is correct is one that was a fraud, thus it is rejected.  This is called a 51% attack, and is the main reason they want the power distributed to as many people as possible.  

What a PoS cryptocurrency does, since the developer SunnyKing noticed was the PoW system was using alot of the world power to keep playing this game of who gets the block.  So he invented a new greener way to distribute the voting power by having a portion of the coins power coming from the old PoW system.  The other part would be generated by coin age of the coins.  Thus if a person wanted to 51% attack a coin, they would not only have to get the majority of the voting shares from the PoW side, but also own enough coins to have a coin age to get the PoS share of the coin.  Yes this system does allow the coin rich to get control of the coin and get greater power.  But it holds itself that a person that owns such a large share of the currency would not want to sacrifice all their coins to take the crypto-currency down.  As time goes on, and all the rewards are divided out, essentially they could turn the PoW electricity sucking part of the coin off and have the cryptocurrency run basically energy free going off the premise that no one will want to kill all their coins in doing the attack.  

Don't take my word for it, I think I have it, but I could be totally wrong.



After reading more, it looks like they are actually just buying back, or taking control over portions of the coins available to control the price, since you can't dump what you no longer control.  They are then paying an interest to you on the coins that they now have control over in their untouchable vault.  

I believe you.

Thanks for the laugh, its pretty funny to see the lone developer trying to pump his coin.

I am glad you guys enjoyed and thanks for helping to double the network hash rate to 25.000 khash in one hour, 1 marinecoin can be given to anyone who helped in here you can always convert your MTC to EXN or DOGE on the website thanks good night, there is a war going out we are ready to do almost anything to win pass thru the crowd to implement the ideas.

Mining at http://mtc.coinminerpool.com

If I qualify for a free coin:

n16herQfZhTK5iSecocB8EPcrwShDrHxpn

Thanks!

also: please provide working conf file if possible. I got this now (called Marinecoin.conf):

rpcuser=username
rpcpassword=password
rpcallowip=localhost
rpcport=
gen=0
server=1
addnodes=78.188.245.233
addnodes=91.211.56.142
addnodes=222.77.163.224
addnodes=197.6.171.187

Thanks2!

Amazing thread this has been,

GO MTC MTC MTC

Let's keep this post on top

interesting idea... it's what crypto currencies should be... gradual release of coins over time which helps with price stability and keeps large amounts of coins out of the hands of the very few.  However with all the 'pump and dump' currencies available I don't see this one taking off in the short term. People will go where the money is, and where the attention and popularity are.

I don't see the MTC>DOGE option anywhere on the website??

if you want to trade send a inquiry to the marinecoin website and write how many marinecoin's you want to trade for DOGE it will be responded currently MTC buy is 0.97 sell is .82 min trade 10 MTC you will be given an offer around that range, it will be automated soon and many other coins will be added pricing based on MTC, we don't advertise Doge option yet so that it won't be abused before we get solid follower base we are very new you know.

Let's keep this post unto date

MTC is likely to be in BTC-E if not cryptsy by the mid or end of this year this coin is heavily invested,

Thank you for your response  Vivisector ;)


But isn't it that with PoS you'll have to mine/forge in order to earn what you call 'interest'? This means that you will eventually have to use computer power (far less than with PoW) by running a client or whatever. I don't know anything about Peercoin, but this is how Nxt works. You won't get any 'interest' if you don't run the client.

No need to run any client in marinecoin the system is centralised in that way,  that's why it is pre allocated for future generations to reward the users without any client requirement whatsoever, these running clients etc are unrealistic for general population to adapt that's why we have chosen this method, no body is going to check if their client is running everyday to earn interest

Good explanation

MTC network is growing, maintaining good hashrates, where did that extra 10000 khash came from the last hour are you guys on the forum?

Marinecoin to the moon

I just bought the domain setting up a pool www.weminemtc.com should be up and running in a few hours

biggest pool now is mtc.coinminerpool.com

We will post when this pool is operational good pool domain name by the way I like it

waiting for the dns update

I sold my house lost it on LTC what have I got to lose go MTC be my saviour

You two should just get married.  ;D

 :) :) :) :) we will marry @ marinecoin city and have all fellow marinecoiner's as guests at our wedding which will cost 100 MTC about 100.000 in USD  ;D ;D ;D

Yep samysamy1 you are correct, you have to have your client open in order to gain PoS blocks. 

I do like the weird wacky concept behind this coin, and its cult like mentality.  Also like the idea they want to build a city ect.

But what I don't like is the 97.2% premine, and leaving the remaining 2.8% to be mined at a stable rate for the next 1000 years.  This means if the coin was actually worth $5.50 US after the first year, the miners would have 0.0028% of the coins, and the devs would have 97.2% of the coins, making them the richest people in the world.  I don't think they have thought things through, which is why I'm not buying into this one.

But you still have to mine, so again you would be using computer power.

And if it was 'real' interest than I wouldn't be interested anyway  :P

So sorry no thank you I'm not buying into this creepy program.

SamySamy1.

Their coin is different in that they don't have to mine.  They have premined 97.2% of all the coins, and have a centralized bank like system.  They will then pay out interest on the coins you have.  Much different than PoS. 

If you read into their info, they are essentially trying to get rich enough to purchase an island or something and build a city on it.  Then form their own government on that island, and the only currency used on the island would be their coins.  They would also bring in money from the tourist industry, as people would be coming to the island for vacations ect.

It's definitely a new concept anyways.  I will give them that.

I wish them the best of luck, but I don't think I will be mining this one.

Reported to authorities.