Bitcoin Forum

The lack of interest in the Wallstreet Journal Article (This is HUGE) strikes me as somewhat odd.

Mazacoin provides a sort of legal stability that no other coin, not even Bitcoin, has. Sure, Maza is subject to the same pump and dump and other risks that every other coin has, but it has one thing no other coin has. It's an indisputable official currency. If every government decides they don't like these coins (and they don't) and ban them tomorrow, where are we safe? Mazacoin.

Do people not understand what that means? Hell, even if you're only in it for the short term you have to recognize the value of the publicity surrounding this coin. Right now Maza is sitting at a Market Cap of about $ 2,941,865. Think about this. A total evaluation of wealth for the Lakota Native Americans of under three million dollars? Are you kidding me? These coins are three cents a piece right now. The Lakota tribe(s) are NOT small. This is a cryptocurrency revolution we're talking about.

I get the Auroracoin Pump and dump. It makes sense. But I think it's foolish for people to hold onto those coins hoping this guy does what Mazacoin has already done.

Ignoring short-term publicity and profitability entirely, I think it's well within reason that these coins hit a ten, twenty, or one hundred million market cap. We're talking the economic strength of tribes that hold the equivalent lands of all of South Dakota, plus all the investors.
3M is a pittance. Hopefully people realize this before it hits a dollar or more a coin.

I do find it a bit odd that the coin hasn't really taken off more than it has. People got all in an uproar over the doge Olympic thing with the bobsled team, and it was barely mentioned anywhere ... yet it still worked to raise the price (at least briefly).

I guess people are just jaded and are going with the pump and dump mindset, for almost any new coin, regardless of publicity or merit. The fact that almost the entire alt market has been down probably doesn't help matters.

Probably too much focus on some other coins or too many coins.

This happens soo soo often. Mazacoin caught the overflow from the AUR mania because of how similar it was. The pumpers already made what they wanted and now they move onto the next coin.

Hopefully all this news coverage helps to set Maza apart from Aurora. At it's core, it completely different. I think it's important people understand that. It's not always enough to have the support of Devs and the community. Having the backing of a sovereign nation is big news.

Just want to clear some things up, based on my own little research and deductions, correct me if I am wrong.

People are going around spreading this article that the is not endorsed by the Lakota tribe.

http://www.indianz.com/News/2014/012781.asp (http://www.indianz.com/News/2014/012781.asp)

In essence this is true. But what is also a fact is there is actually a schism in the Lakota tribe, there is the traditional Oglala Lakota Nation which is recognized by the US federal government. On the flip side there is the Lakota Republic, which is a theoretical "break away" state/group that was founded by famed Indian activist Russell Means to reclaim lost Indian territory and form a quasi-libertarian native state backed on the gold standard.

http://www.republicoflakotah.com
 (http://www.republicoflakotah.com)

http://en.wikipedia.org/wiki/Republic_of_Lakotah
 (http://en.wikipedia.org/wiki/Republic_of_Lakotah)

So hate to burst everyone's bubble, but this is NOT a legally recognized entity by the US government nor a sovereign state in the sense that we think of it.

Now for my personal opinion, as a big Ron Paul supporter and opponent of fiat currency, I support the work that Russell Means tried to achieve and I suspect Payu Harris is trying to carry on his legacy in his own way. I do NOT believe Payu to be a scammer because he has a credible solid history behind him of working tirelessly for the community and promoting economic development for years now, particularly in the areas of internet and technology. Also if he was going to cash out the premine to enrich himself, he had much better chances to do it when the hype pump occurred the other day, but the account is still active and unclaimed.

If you do not want to support Maza because it is not the "legally recognized currency" you thought it was, I understand. But if you hate our fiat monetary system and want to support something just to stick it to the man, not only do I believe Maza is a good buy but I think it will rise as a wealth preserving commodity akin to silver and gold. It's not an official currency but it also has a political activist base to make it actually worth something.

Also for what it's worth, Russell Means almost won the president of the "official" Lakota tribe a few years back but lost by just a few thousand votes, so even if the tribal leaders don't support it, I guarantee most Lakotas probably would be sympathetic to what Payu Harris is doing, the people matter more than the leaders do, leaders can be voted out and changed but the grassroots is always there.

its not dying  :D. Just going through the initial pump dump phase. After this serious investors will hold it. The value is up a ridiculous amount from launch. Its got serious backing, which means good news will keep coming out. Once an indian casino starts accepting it  tho :o

mustachecoin! /sarcasm

Because its not HUGE.

A singular person from Lakota tribal council (who also admittedly knows nothing about cryptos) has stated they will accept Bitcoin and all cryptos, then a few devs started and shoved Mazacoin their way.

Strikes me as odd that anyone would consider Mazacoin as special when they intend on accepting all cryptos (and as stated as long as they can trade them directly for USD.......hmmmm).

Why do you think its dying? Trading looks brisk to me. Sure it had a little pump at the beginning but let's give this coin a chance before we write it off.

Other than Bitcoin, Mazacoin appears to be the only other coin with real world credibility.  The jury is still out on Aurora.

When is this thing gonna rise againnn

Your username is not exactly befitting

Have patience, ThePatient.  Mazacoin is a coin for the long term. Whether it falls a bit in these early days is relatively unimportant.  If you think it's too cheap, you can always buy some more.  And of course you can always get some by mining...preferably at my pleasant p2pool http://mazacoin.treasurequarry.com:14477  :)

i like the idea of it over aurora coin, it seems around fair price now for the minting... perhaps still a little high....3000 ish looks better, then stable rising long term depending on what happens.

junk

This coin will succeed or fail over a much longer period of time than the few days it's been popular here. Patience. I wouldn't call it a failure just because it's not the InstantProfitTraderPumpCoin so many were hoping for. I think the coin has more merit than that.

Prices will rise when:

1) Supply lowers when it halves or when it's not growing exponentially in hash rate (miners dumping every day).

2) When it's recognized a lot more widely. Right now most of the people interested are traders/miners.

Of course, that depends on how implementation goes over the coming months.

To your number 2: this coin has gotten a ton of press the past few days...

Most Naive Americans don't give a damn about crypto, are you kidding me? Have watched the documentaries that show a lot of them are drunks/gamblers? They all stay in their community and it gets worse because no one moves and it's hard to get jobs. Why the hell would they want some hassle Mazacoin to fuck around with? Simple people don't need that stupid shit.

Yes, but still only a few days. And I don't think it's made that big of an impact on people not already following altcoins. This is a coin that could change the landscape if it works. The press will be 100x bigger if any kind of working real-life crypto economy even begins to form. Something like that happening inside of the U.S. is going to capture a far wider audience than the Mazacoin press from the last few days. I just think some things have to start happening with the coin first before we see a real, dramatic price rise.

It's just TraderCoin right now. You can't do a thing with it. You can't even wipe your ass with it, it's digital. Value will come when the picture of its uses and economy is more clear. Value will come when average jackoffs in America are asking eachother about that 'new digital money the Indians are using'. I just don't think this is a coin that will rise a whole lot until there's more behind it. It might go up some because it does have potential, but if there will be a boom I think it's a few months or more away.

So does anyone have a link to an official proclamation or whatever by either the Lakota nation recognised by the U.S. Feds or the Lakota nation not recognised by the U.S. feds?

Or is the claim that a Lakota nation officially accepts and puts forth the currency as its national currency bullshit with regard to both of those competing "Lakota nations" ?

-MarkM-

Yes let it die !
We have enough alts !

Cry me a river!  It rise up due to Auroracoin and they are both going  down to bottom of Top 100 coins

Could you assist in clarifying a few details please?

(i) Has the Pine Ridge Reservation or Oglala Sioux's tribal council accepted MazaCoin as a sovereign currency, or at the very least, endorsed it?
(ii) In the event the tribal council accepts MazaCoin, are they empowered to do so under the 1934 Indian Reorganization Act? Or are they still under the direct authority of the Secretary of the Interior for Indian Affairs as well as the U.S. Secretary of Interior himself (both who naturally will consider the introduction of an alternative currency as illegal)?
(iii) Has any physical business accepted MazaCoin as legal tender?

Thanks.

EDIT:
Just saw this forum post by the developer.
"The AIM movement is currently not a fan of MazaCoin. Because the developers (myself included) are white. They believe it to be a "white man's scam" at this point. As for First Nations there may be more sympathy there, but so far they are silent."

Source: http://cryptominers.freeforums.org/getting-associates-t26.html

mazacoins possible ties to the free lakota bank is what has me semi nervous. regardless i plan on picking up a decent amount and holding it. i appreciate what payu is trying to accomplish and i hope he is successful. i also hope the lakota nation decided to stand behind this, if only they could see what benefits this could have on the economic status of their community

They should create a new premined crypto backed by gold.
1 coin = 1 gram of gold

Let it die, hell I'd personally kill it if I could.

I live in south dakota mazacoin if it is used as the dev intended great too bad it never will. Mazacoin will be used to fatten the casino owners pockets the owner touts that it will be used to help the impoverished lakota the majority are alcoholic pot/meth heads/junkies who spend the money they get on drugs. There are very few who would use the coin as intended.

Your post is good but this "It's an indisputable official currency" is disputable since they are not a genuine, independent nation.
Interesting story, stay tuned...

If it's not this Indian tribe/nation, it will be another Indian nation that will adopt it's own crypto-currency.  Because bitcoin has economic value and advantages that no one can dispute.  Plus, it's such a damn good idea!!