Bitcoin Forum

https://i.imgur.com/LAyfZzL.png


TO BE RELAUNCHD SOMETIME IN Q3


Release Date:
June 22, 2014 @ 12:00 GMT-7


Website:
www.metalcoin.org (http://www.metalcoin.org)


Social Media:
Twitter.com/MetalCoinMTC (http://Twitter.com/MetalCoinMTC)
Reddit.com/r/MetalCoinMTC/ (http://Reddit.com/r/MetalCoinMTC/)
inbox@metalcoin.org

Other:
http://www.reddit.com/r/CryptoCurrency/comments/295k0k/metalcoinprecious_metal_reserves/
http://ftp166085.host183.web538.com/forum-718-1.html


Wallets and Source Code:
Wallet:  TAKEN OFFLINE UNTILL RELAUNCH
Source Code:  TAKEN OFFLINE UNTILL RELAUNCH  
Configuration File:  TAKEN OFFLINE UNTILL RELAUNCH


RPC Port:
21020


Addnodes:
addnode=54.194.99.126


Block Explorer:
http://metal.explorer.ssdpool.com:9008/


Technical Specs:
Name: MetalCoin
Ticker: MTC
Algorithm: Scrypt
Block Reward: 1 MTC
Block Target: 600 Seconds
Difficulty Retarget: 30 Blocks
Coin Maturity: 2 Blocks
Pre-Mine: 30%
Maximum Coins Minted: 2,400,000
Maximum Coins Minable: 1,680,000
Maximum Pre-Mine Allocation: 720,000

Block Reward Will Reduce in 15 years
Mining will last around 30 years

Mining Pools:
http://mtc.pool.mn
http://coin-miners.info:8080/getting_started
MetalCoinPool.com Coming Soon


Exchanges:
https://www.allcoin.com/vote
http://www.ecoinfund.com/vote
https://www.kingcoiny.com/landing/index.php?page=voting
MetalCoinEx.com Coming Soon


Bounties:

- New official logo, only chosen logo will receive the bounty,
- First two block and wallet explorers, must be capable of detailed wallet and transaction analysis,
- New official mining pool website design for www.metalcoinpool.com,
- First three mining pools that host MetalCoin mining, ONE SPOT AVAILABLE
- New website design for www.metalcoin.org,
- New website design for www.metalcoinex.com, must include a functioning alt-coin exchange that trades at least BTC and MTC,
- Paper wallet generator,
- Addnodes
- New original MetalCoin specific fork, energy efficient, new wallet design,
- Android wallet
- Apple wallet
- Media support, videos, blog/news articles


What is Metal Coin?
Metalcoin is a minable cryptocurrency, backed by tangible assets. Miners will be able to mine MetalCoins with their computers and trade them in for actual gold, silver and copper coins (minted by MetalCoin), if they choose to sell. MetalCoin will also hold a derivative value based on future franchise  performance.

MetalCoin is designed to work like a community operated hedge fund, with the objective of financing our own franchise. By regulating the index ratio, investors can buy MetalCoins which will create growth for the bullion reserve and generate cashflow for capital investments. Early investors will pay a higher index rate but see returns sooner.

MetalCoin will fund itself by slowly selling off it's premined coins, around 2,000 coins per week, which should end around the beginning of 2017. This amount could change with high demand and would result in us achieving our objectives sooner than the projected period of 2.5 years. Our final objective is to attain a reserve value of around $8,000,000, then to finance the setup of four franchise locations (operated by the premine administrators) by liquidating half of the reserve value. Franchise concept and details will be released near the end of the premine sell off, in order to incorporate the latest cryptocurrency developments into it's business plan. Each franchise location will act as an independent, locally operated entity, responsible for it's own accounting, trading of MTC, minting of MTC as well as operating other profit generating services. Each MTC will be backed by the cumulative reserve value of all the franchises, allowing users to easily transport their precious metals safely around the world.

In order to attain this goal, a set amount of MTC will be listed on an exchange every week, and will be indexed to the weekly or daily demand. By selling 2,000 MTC per week to the public, the precious metal value of each coin should increase from $0.50 to around $18.00 and the reserve from $3,300 to $8,000,000 by January 2017, based on a BTC/Gold ratio of around 2.15. The remaining premine coins will be used by the franchises to help cover operational costs in the future. Any revenue from MTC sales will be immediately converted into precious metals. Website and online documentation will be updated shortly after. Each coin will be back by 50% in precious metals and 50% in franchise stock. Mining will continue for around 30 years and reserve growth will come from future franchise sales.

Download investment projections here: Temporarily Offline


Short Term Goals;
- Pay to have a new asic resistant algo incorporated, will be paid for by using a portion of the reserve,
- Choose premine administrators,

Long Term Goals;
- Create franchise sales package, including legal documentation and financial guidelines,
- Fulfill bounties, which will be valued on an individual basis, indexed to BTC


July 5, 2014 Status,
Will be listed on EcoinFund.com within the next 24 hours, I'll be listing 4 weeks worth of coins (8,000 MTC) at the exchange rates listed in the investment projections. Any revenue from coins sold at these rates will be converted to precious metals asap and all financial documentation will be provided shortly after.


Pre-Mine Wallet Address:
LUotRiPh92hSMfx8vndZCTuqt4FJ7QjPSa


Bullion Reserve:
www.metalcoin.org/reserve.html

Precious metals will be purchased from SilverGoldBull.com as they accept Bitcoin and offer local pick up in Calgary. All receipts and financials will be available to download at metalcoin.org. At the beginning, until we build our first depository, the reserve will be verified by pictures on the website. Once we build the first depository, we will have an online webcam recording the reserve and the video will be streamed live on metalcoin.org 24/7. We plan to have a public opening with lots of media, hopefully in a few months time.


Legal Security:
Aside from having security through community involvement, MetalCoin will also offer security through legally binding, short and simple business contracts that will be written in accordance to international trade law and binding in most countries of the world, most importantly legally binding in Canada, MetalCoin's headquarters. Signed copies of all contracts will be available to download on metalcoin.org and videos of all relevant signings will be posted as well.

ok lets mine this on release :) good luck

but 30% premine  ::)

30% is the minimal amount needed in order for this coin to function according to it's business model. Beleive me, I really didn't want to pre-mine it, but there's no way around it. Unless of course , someone wants to donate a 10kg gold bar, then we have a different story.  :)

Start post looks good.
I go Follow this coin.
Succes.

Thanks for the support.

I have to sign off now, but I'll be back tomorrow to answer any question anyone may have.

Isn't this like the third "gold backed" coin that you tried to release? I forgot the other two names... Each time flopped with zero interest and never really launched? A new website and a new name will not get you miners who are going to mine and give value to your premine. People are not stupid.... even a 3% premine is a hard sell these days. Start with building trust. Announcing with your real BTCTalk is is a start.

Wow, were did that come from? No bud, this is not my 3rd gold backed coin.

If you are doing an auction for the premine you can build trust.
Think of a certain amount of BTC that you really need, and that it must surely yield.
The 10kg bar gold is to much I think, but a littlebit more realistic then it can succes.
Succes.

Stop making shit coins.

I appreciate the criticism, it just shows how saturated the market is. People are so sick of mining senseless coins that when coin does come around that actually offers real world value, people's knee jerk reaction will still be “shit coin”.

People need to realize that it doesn't matter if your coin has a nice logo, nice name, special algorithm, pos or “no pre-mine”, no coin will succeed in the end if it doesn't pay the bills or doesn't provide any real world value along with their fancy features. Every single crypto struggles with this reality, because their true nature is that they are not worth anything more than the speculation that the crypto community gives it. We all mine crypto because we're sick of fiat, but at least fiat currencies have of some real world value. The general public outside of the crypto community haven't even adapted to Bitcoins, do you really think that they will care if someone donates 1 million [fill_in_the_blank] coins to their cause? Let alone, paying for real world items with [fill_in_the_blank] coins?

I admit that this coin is being released at a bad time, but that doesn't mean that it's a bad concept, which I haven't even released yet! I am offering a commodity that has been in high demand since the beginning of civilization, as well as an original concept that, with support, will lead to this coin being accepted both inside and outside of the crypto community, in addition to also providing the features that other cryptos offer.

Again, I appreciate all criticism as I am here to help build this concept. In response to crypto4jan's comments, I chose the 30% pre-mine because it works well with the concept. There will be large lump sum payments made in the future and wanted to have the liquidity to pay from one source, instead of approaching the community for donations or ipo investments. I can offer an ipo, but this would mean that the concept would have to change and that reserve growth would spike and peak in a very short time and limit growth in the future.

Do you think an ipo, pos or hybrid is the way to approach this?

This thread is making me reconsider the concept. What does the community suggest? And please no “shit coin” comments, because with the exception of a few coins, we are all “shit coins”  :)

Wait, you have around 3,300$ in metals and think that more than 1 million MTC are worth at least 1.50$ in metals? How does that work out?

Thanks NoxX, what I said was "each mined coin in circulation will still be worth around $1.50 in precious metals".

144 coins mined per day
X
16 days from June 15 to July 1
=
2,304 coins mined by July 1

If the reserve value doesn't change in 16 days, then every coin will be backed by $1.64 in metals.

I know people may argue that there would be 720,000 + 2,304 in circulation but please consider this, the meaning of the word circulation means to circulate, movement throughout an area, if the premined coins are not moving and are in the developers assigned premine wallet, then the coins are not in circulation, until the time comes when the do get sold to the public. For example, if the Bank of Canada minted 1 million $1 coins, but only released 800,000 of them to the banks/public, the Canadian government, Canadian Revenue Agency and the Bank of Canada will only recognized the 800,000 coins made available to the public as the coins in circulation, and would not include the 200,000 that are packed away as stock. Also, from a legal stand point, If I have to file taxes with my local tax office, I would only taxes off of the coins that are in circulation and not the ones that are in my premine wallet, those coins would fall under a different category, unsold stock, considered a cost.

That being said, I suppose I could "dump" the pre-mine and take off, but I'm hoping that there is enough community to help get this coin going as I have long term plans for this coin and would benefit much more financially if I stuck around rather than making a few bitcoin in the short term.

i see your pow is scrypt. in the summer for most miners. X-11 is way cooler (temp) or even scrypt-n or x-13. X-11 is easiest on hardware and energy cost though. Strongly consider this change.

I wonder why this coin reminds me to the original GoldReserve coin: https://bitcointalk.org/index.php?topic=641064.0 (https://bitcointalk.org/index.php?topic=641064.0) ;D
...
... which have been using X11 already. ;)

... and the premine was significantly smaller: 10% vs 30% (and a part of that was sold as IPO).

Thanks Shogun, I was considering going with an x11 algo, however, I was thinking that a clean unique fork of Litecoin would be the best choice for the future, in order to include MetalCoin specific features.

  i will try to mine  :)

To elaborate further, I'll try to defend the premine in comparison to an ipo.

MetalCoin is designed to increase a minimum of 50% per annum in real value, gain market value steadily, while taking 30 years to reach it's pinnacle. In a perfect world, MetalCoin's coin to weight ratio should never decrease. This means the earlier you obtain coins, the more profit you will make. If MetalCoin had 30 years to market this sales pitch, imagine the speculative value the coin could create. At a 50% compounded growth rate, MetalCoin could easily reach 1-2 oz of gold per coin in 20 years, after than point we may have difficulties finding enough gold. Bottom line is, this coin will increase in real value for 20-30 years and all the public have to do is continue mining it and buy in at the reserve indexed rate.

In comparison, if we offered an IPO, in a best case scenario, we would have a group of investors who pool their bitcoins together to buy the premined coins. I would go out and buy some gold with everyones money and at that point, every coin would be backed by a certain amount of metals. From that point onward, the coin will only diminish in value, while people continue to mine it. The coin would need regular cash injections to buy more gold, just to maintain the coin to weight ratio. Alternatively, if there was a coin that was 100% POS or anything similar, the coins would be split up amongst a few hundred or a few thousand people, who then own a coin that is backed by a gold reserve that will never increase. It would be up to the coin holders to convince the public to accept their coin that has minimal distribution and is as expensive as real gold. POS only benefits a select few in the short term, whereas a premined coin will grow in time, if managed properly.

I'm trying to explain as much as I can without revealing too much secret info.

Agreed with Shogun47,

Seeing this coin x11 would attract lots of GPU miners which is most of the people mining. +1 vote on the change :)

first, learn to use a spell checker.  2nd why should we trust you with the asset that backs the coin, and how are you going to get more gold/silver etc to make the "Metal coin" worth more.  

stop shit in this forum .30% premine ,scypt algo ,meaningless

I would like to see Metal Coin on either of those algo's as well, X11 or X13.  Then I would mine it.

Thanks Doc for your feedback. I will definitely consider a new algo.

your metal is worth 3350 dollars thats not alot for your premine. give us your real identity

accurate time is when?

I apologize for the typos, but I've been on this forum for most of the day, responding to posts.

I can't say much more about the how the coin will increase in value. I have posted all the info one needs to crunch the numbers for themselves, use a spreadsheet. Also, the metals will increase the value of the coin, not visa versa.

Why should you trust me? For starters, I'm trusting the community first by offering my metals, free of charge, just just to mine my coin. I'm offering real value upfront, and all you have to do is mine it. Is my offer really that offensive? Would it make a difference if I dug deeper into my stash and offered a few more gold coins?

I can't comment too much on the security of the reserve other than there being several levels of public checkpoints, both online and in real life.
 

Getting warmer :)

I realize that I will have to eventually release my identity, but how about this, you guys fulfill the bounties and I'll release my full identity, however you want me to prove it.

Sunday June 15 @ 19:00 local Calgary, Canada time. GMT - 7

Are you still on schedule for this Launch time?

Due to the public response, we are delaying the release of the wallet and source code, in order to build more public confidence. We'll be releasing more information about the developers, general security design, pre-mine security and pre-mine allocation. We'll reveal a portion of our new concepts but will withhold the information regarding our financial/economic concept.

We have reached a point in the crypto world where ideas are saturated, reward systems are saturated, everything has been done, all while cryptos are gaining more and more ground in the tangible/physical world. Ever wonder why “MetalCoin” has never been done and does it not create little curiosity within you, when someone comes around at this stage with a MetalCoin, screaming new concept?

We are entering a new area in alternative currencies and MetalCoin can to be at the forefront and it's concept widely adapted, if supported by the community. We are much more than just an algorithm!

That being said, community is a crucial part of MetalCoin's success, both from a tech and security point of view, MetalCoin will not succeed without support, which is what we are trying to earn.

Stay tuned for an update, I should have one in 24 hours. Wallet and source code will be delayed for a day or two, while we try to create more confidence.

In the mean time, check out this well researched analysis of questionable altcoins, which lists some of our favorite coins. Keep this in mind when considering MetalCoin and it's concept. We understand that pre-mining a coin is a popular way to scam people, which is why we are open and upfront about our pre-mine and also why we are putting most of our efforts into resolving this issue.

Article: http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins (http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins)

30% premine with nothing new that your coin offers only give you this:

[/b]

Met with my parter today, we'll be meeting a potential third partner tomorrow, stay tuned for an update in a day or two. Follow us on Twitter to stay up to date.  ;)

twitter.com/MetalCoinMTC (http://twitter.com/MetalCoinMTC)

Ok, I have a pre-update. We've modified the concept, and changed the pre-mine to a hybrid of POS, IPO and “publiclly secured premine”. This means that the original concept has changed. I will explain the changes and how it effects the original concept. I'm going to spill all the beans on pretty much everything and will release the wallet 24 hours after posting the update. We'll let the public decide the fate of this coin and it's concept.

Stay tuned for detailed update in a couple days, I need some time to type out the new concept as well maybe put together some flow charts or something.

There is already an MTC

https://www.swisscex.com/market/MTC_BTC

another pump and dump coin , I am going to pass.

10 min block times are imo way too long. It's frustrating to wait for transaction to confirm with such long blocktimes.
2 min blocks and 0.2 block rewards would be better. This is actually a quite nice idea and coin otherwise  :)

I'm following this. Not sure why this community is so quick to jump on new coins with marginally changed algorithms that really offer nothing new, but place so much hate on real potential businesses.

Coin price is based off investor sentiment, business price is based off real numbers. Wake up people. This may or may not be the best business that will ever come out of the crypto-currency world, but at least it has something behind the numbers/price. Ask questions before you spread FUD.

P.S. +1 Scrypt (let the hating begin!)

Thanks Timeline, I hear you, we tried to address this by lowering the block maturity to 2 blocks. On the metalcoinpool.com, we'll have low confirmation levels, few blocks.

Thank you enjoi!

I knew there had to be more logical people out there. I will give you and everyone else who supported this coin prior to your post, a small bounty/reward out of the allocation early next week!

I'm still working on the update, it's going be impressive, should be ready to post it within 12 hours.

Thanks again for the support!!

Cool, thanks! Looking forward to the launch.

Really looking forward to mining this coin. Cool concept. Will definitely check it out. Looking forward to more information

Why is the domain metalcoin.org registered anonymously?

because there was initially supposed to be much more secrecy involved :)

We'll change it soon.

What is special about this coin? didnt find it in OP.

Is MetalCoin registered as a business in Canada?

Yes, it is a brand of a registered Canadian corporation.

read the TLDR at the end of the big post a few post up  ;)

Who's the lawyer involved?

MB?

I'm assuming it will come out at some stage.  If so, please PM.

Which registered Canadian corporation owns the brand?

I would suggest starting at a different time, 19:00 GMT-7 really sucks for all of europe...

Hi M31,
The lawyer's identity will be released in the near future. I'm not sure if I understood your suggestion, MB. Send me an email if you would like to chat about this, inbox@metalcoin.org

I will release the name of the company involved along with it's Canadian corporate registration number, as well as it's GST (Tax) number. I can say that the company has the word "mining" in it's name and was registered some time in January 2013.

Thanks NoxX,

I'll change the release date, how about Sunday June 22 at 12:00 local Calgary time? This would be 14:00 in New York, 19:00 in London, 20:00 in Amsterdam and 21:00 in eastern Europe?

yawn... another instafail premine coin. reasons?

1. SCRYPT

all other reasons irrelevant.

I forgot to mention that gold and silver metals will be purchased from silvergoldbull.com which allows us to pay with Bitcoin and pick up locally here in Calgary. All receipts and financial documents will be available to download on metalcoin.org.

Is that your only reason?  weak

Thanks, I'm not sure how I would change that. Any suggestions? :)

There is no need for a strong reason for a weak concept to fail.

time will tell. there maybe enough suckers in the world you can scam that will fall for this scheme.

Quick attempt at claiming the logo bounty. If this isn't the direction your looking for, do you have any preferred color schemes or styles you'd like it to be based off?

https://i.imgur.com/6izWx1m.png https://i.imgur.com/hqjqmRp.png

I'm not sure what to say, did you read anything posted on this thread? Is there another coin that attempted a similar concept and failed? Are precious metals a bad choice to invest in? Can you provide any better solutions other than your weak unsubstantiated claims?

Thanks enjoi!
I appreciate your effort. I was thinking of a yellow, orange and silver color scheme, in order to represent the 3 metals involved. I was also thinking about including one big letter, like the B for BTC, L for LTC or D for DOGE. But that's just my non-artistic opinion, ultimately, I would like something that most people will accept. I trust your judgment.

Thanks Again!!

I cant give you a better solution, because your whole concept is fundamentally flawed. there is no solution. I suggest you stay hidden, because if you go ahead with this, there will be ipo holders that will be looking for you in the real world. 

Sorry, I just noticed the other logo you made, the one that has the word METAL on it. I'm stuck now on whether to or not to have a big M or the word METAL on the logo. They both look good, I think the word METAL on a metal background looks really sharp, like superimposing subliminal messages in my head, "METAL" on metal  :)

Another concept :)
https://i.imgur.com/5JCx0qq.png

Thanks for validating my claims. To finish your thought, if IPO investors come out to try to find me, it will be for celebratory reasons. Everyone's identities are going to be released at the same time and believe it or not, it would not be in my best interest to scam everyone. I have a career, I'm not in financial distress, I just want to help establish a good idea. Thats all I have to say is defense of your weak claims.

Im sorry you don't understand how 'decentralized' systems work. I don't trust you, nor your list of anonymous cronies. Yet you centralized this coin before it actually gets mined. Where have you invested any risk ??  what 3 grand in coins? stop before this gets out of hand.

I'll move on now.

thanks.

Thanks enjoi!
Whether or not we choose to go with this logo, I owe you 2 bounties now, Thanks again for your support!

I'll shoot a few more over on Monday if I can find the time. If you like any or have any further ideas let me know and I'll be happy to tweak one or clean it up a bit.

Ok cool, enjoy your weekend, Thanks again!

Sounds good to me, I will have a look when it releases, thanks! :)

We've bumped the release date to June 22 at 12:00 local Calgary time GMT-7, to accommodate our European friends. 
14:00 in New York/Toronto
19:00 in London
20:00 in Amsterdam
21:00 in Eastern Europe

Also, I for got to mention in the update that precious metals will be purchased from SilverGoldBull.com as they accept Bitcoin and offer local pick up in Calgary. All receipts and financials will be available to download at metalcoin.org.

I need some time to update the website, most things have changed, I want to make sure the release goes smooth, then I'll work on the website. I'll also put together a thread for the IPO by Monday.

Does release mean IPO, or scrypt mining? I'll sadly be out of the house until late tomorrow night, so I'll have to join the party late :(. I'd also like to discuss joining the pre-mine administration team. Can you send me a PM with more information?

Thanks!
enjoi

It will be the release of both the mining and the ipo. I'll release full ipo details about 30 minutes before the release of the wallet. Thats too bad you won't here for the release :(

I'll PM you within the next 24 hours with details regarding the position.

http://mtc.pool.mn/ is ready for pre-registrations!
Mining will be available when MetalCoin  launches!
Feel free to register and configure your miners before the coin launch

http://mtc.pool.mn offers:
• 0,99% fees
• Powerful dedicated server
• DDOS Protection
• Friendly support via email, jabber or support forums
• Skilled admin

Please, join us (http://mtc.pool.mn)

http://pool.mn/Themes/Dilber/images/theme/logo.png (http://mtc.pool.mn)

90 minutes till take off!! Wallets and source code will be release soon!

IPO Details:


Based on June 22 BTC price of $617.48 on Bter.com

Stage One, Seven Days, June 22 at 12:00 GMT-7 – June 29 at 12:00 GMT-7
100,000 MTC will be offered at 0.00592 BTC per coin for seven days after the wallet is released

If all coins are not sold, the remaining coins will be allocated to Stage Two.

Stage Two, Seven Days, June 29 at 12:00 GMT-7 – July 7 at 12:00 GMT-7
The remaining MTC leftover from Stage One will be offered at 0.00269 BTC per coin for seven days after Stage One is completed.

Any coins left unsold after the two stages will be added back to the premine balance and used for future purposes. All proceeds from the IPO will be used entirely to purchase precious metals.

The BTC address accepting payments is: 15PpbCD83X3Kvb1PuucM6hAHJzvWg5c4se
Link: https://blockchain.info/address/15PpbCD83X3Kvb1PuucM6hAHJzvWg5c4se

14:00 in New York.  Coin launch now?

Wallets and source code is released, you can download them off metalcoin.org

or

Windows Wallet:  [Suspicious link removed]img.com/f25dffa3a333e5ea0a9d54293c89a951?AccessKeyId=01DE8741F0B5B8545BF5&disposition=0&alloworigin=1

Source Code: [Suspicious link removed]img.com/178b5947740c4867828c2c75635b5de9?AccessKeyId=01DE8741F0B5B8545BF5&disposition=0&alloworigin=1

Happy Mining To All!!!

LOL  coin fail coming soon.. btw these guys were supposed to release the wallet 1/2 hr before launch.. not sure how that would have worked.. but I wonder if they know they have to get a genesis block going first .. putting trust in people that don't understand cryptocurrency is probably not a place you want to put your money.

Awesome!

No escrow for IPO ? and what is so innovative about the coin, it is same old scrypt and IPO coin ?

107 blocks mined... and I can't even connect to the network...

Im looking at pool.mn and there is no blocks mined because the pool has not connected to the network either. keep an eye on this.

Connected just fine here right at the start, and wts 52 MTC  ;D

Anyone have addnodes?

curious if you are mining on the wallet or using the pool they supplied, seems weird the pool would not be operational looking at the pool info.

I'm mining on the wallet atm... the pool doesn't work yet it seems.
only rejects for now...  ::)

I mined straight from my wallet and was very lucky i guess,not found anymore blocks for a while now

WOW this is getting sketchy .... dev not here, and not updating OP. lol been here seen this, same as always on scamcoins
and adding mining pools without solid evidence they are even legit.. hahahaha

I'm also getting error messages from the pool, going to try coin-miners.info

seems to be working ok!

 dude.. what the hell is that link you have to the wallet on the homepage.. its just a jumble of code. no recognizable file downloads from there using IE

already found 3 blocks :)

open with winrar

I'm right here, I'm just working on updating the OP as well as Twitter CCT. I can only type so fast. :)

About the file names off the website, I talked to GoDaddy about that issue and they said that there is nothing they can do about that, sorry for the inconvenience.

I think i'll pass. what is pitiful is im watching the only listed pool the op has posted on the first page, not connect to the blockchain.. yet how many are mining from the wallet.. pretty unbalanced , but ive seen this type of premine before. its the same as for other coins with a lifespan of 5 days.

heres one..
addnode=54.194.99.126

I'll be on this forum all day, updating the info and answering questions, I'm not going anywhere.

Please fix/update the first page with ALL information, since most information is available right now.

You should update the info on the first pool listed , the op there dropped the ball , and im looking at the pool stats and no json connection is available yet

http://pool.mn/Themes/Dilber/images/theme/logo.png (http://mtc.pool.mn)

Up and running!

0.99% fees
Powerful dedicated server
DDOS Protection
Friendly support via email, jabber or support forums
Skilled admin

Please, join us (http://mtc.pool.mn)

Pool just started hashing

The bounties offered are laughable, if you could not  come up with these things yourself why would anyone trust your competence in other areas.

I realize that they are low, they were set low due to the uncertainty of the initial market price. I wasn't sure if this coin was going to be received well or not. Thats why I mentioned that all bounties are negotiable. I've already received some pm about this and and decided to index the bounties to BTC and am open to all offers.

As I mentioned earlier, I'm working on rewriting the op and website text, please have patience. I'm working like dog!

- updated the OP
- bounties revalued
- updated the premine wallet address
- provided a new dl link hosted by dropbox
- IPO is rescheduled for tomorrow at noon local time, escrow account will be provided

Going to update the website and respond to pm's and emails now, I'll be check in here throughout the day.

Thanks again for supporting!

Finally hashing away  ;D

I was just looking at what your giving away for bounties.. those are pretty steep awards , considering your projecting a coin to be worth 3 dollars 'usd' .

There is some method to my madness :)  The values of the bounties are based on quotes people sent me for various cryptotech services. They're little on the high side to entice people to fulfill them, however the longer they stay open, the less the reward will be. I'm going post an other update in the next little while, I'm also going to restructure the IPO before I release it tomorrow.

To be honest, I thought more people would be jumping all over this coin and although I'm not complaing about 100mh/sec (and climbing, thanks everyone), I just anticipated a bigger following. Needless to say, this coin will work if it becomes tradable somewhere, perferably on our own site. I'm going to pay around 1,100 MTC in bounties tomorrow and if nothing else gets fullfilled, each coin will still be backed by $0.59 in precious metals in 30 days and $0.38 in 60 days (8640 coins in circulation). In short, we have some time to round up a good team, the sooner the better obviously. Once we get started and people see the reserve grow every few days, things will change.

I see only 30 mh out of 180 mh hash that is accountable from 1 pool. Shouldn't you try to get more pools onboard?

June 23, 2014 Update:


242mh/sec and climbing! Thanks everyone for your support! Hang in there, we have some action in the pipeline, bag holders will be rewarded in the end.

I apologize for the frequent updates but I've had to change the original concept, on the fly, over the past few days, to gain public support. Things are changing daily. I've been contacted by a few groups that have shown interest in MetalCoin and I'm currently in the process of negotiations with these groups. I'm not promising anything, I'm just saying there is interest and that there is a chance that something may pan out.

For this reason, we're going to hold off on releasing an IPO until further notice. Good news for coin holders, as the value of your coins will not be diluted by 100,000 coins. Also good news for MetalCoin as this will provide more cashflow to fund our operations.

We've paid out 1,100 in bounties so far and a pdf of the payouts and premine details can be downloaded off metalcoin.org or here --->

https://www.dropbox.com/s/iju0c7u256nm92r/MTC%20Premine%20Account%20%28June%2C%2023%202014%29.pdf.

Please let me know if I can or if I should include the forum names of the people who were paid out of the premine amount. I'll update the spreadsheet to include Tx. ID and other info as well.

Also, could the following people please post or send me their MTC wallet addresses, in order to receive a bounty for their support;

- Bharat
- crypto4jan
- NoxX
- shogun47
- a447513372
- DrSnAzZy
- Ownership
- Gaoweida
- Timeline
- adroitful
- atavacron
- Quantumbud
- ArcticWolfie
- scorpio18


Thats all for now, I'll post another update soon. Thanks again for all your support!

Apparently my netbook is the only thing mining at  pool.mn lol  :D

Looks like the OP bailed on this coin.. figures.

No, I'm right here, battling battling the skeptics, while working on the coin.

I just want to say that I'm going to stick this one out. I'm hoping that my perseverance and honesty will gain support in the end. I have faith in this concept, even though it's changed considerably from it's original form. I think if enough of us stick around, we might be able to make headway in a month or two. I also believe this concept might be a little ahead of it's time and released under poor market conditions, but wait, someone will eventually offer a similar concept in the near future. We have ATMs, merchant services, point of sale systems and advancements happening everyday. I feel that altcoin trends might do a complete cycle and end up something like the gold and silver backed US bills that they discontinued in 1933. We're already close with all the incentives that altcoins are offering these days.

With so many coins released in the past 6 moths, I believe there aren't enough developers to support all the coins and their communities. Everyone is busy trying to boost their own coin and if one doesn't have a coder in their dev team, things generally end up falling apart. This coin can be an industry first and very successful if supported by a strong community, and unfortunately I really missed the 'DOGE-like community support train'. It's big business and people get greedy. Look at what happened to DOGE with Jackson Palmer leaving the community.

In some ways, all the hate on this thread might be a good sign, as we might be pulling at the right strings. I put a lot of time into this coin and I'm pursing it more for market presence than I am for monetary gain and I feel that if I stick it out long enough, someone will eventually recognize the true value in this concept. We have interest on Twitter growing daily. Until then, we have 3300 in precious metals for now, I might add a few more coins to the reserve down the road, if we need it.

There are a few people that have contacted me regarding bounties, I'll post an update when I have one.

Thanks again to everyone who supports this coin. Anyone who cares to join me in this battle, I'll be right here. :)

Why would you not offer the IPO before mining commensed?  It makes sense to build a gold reserve to back your coin before you started the mining. The problem you have right is contrary to what you consider your asset. You don't have support. There is no one mining on any pools, so the hash must be coming from solo mining. That could be 1 big whale mining all the coins, or a 100 smaller miners. TBH I don't see any value in this coin without something backing it up. You decided to centralize this coin, but you put nothing up to support it. Don't take it the wrong way, correct me if im wrong, but im being critical due to the fact I've seen this concept fail over and over in the past. The longer there is no market for this coin, the faster it will die.

Thanks sly5am, I appreciate your criticism and I agree with some of what you've said.

I offered the IPO after the release because I felt like the community didn't entirely warm up to this concept and I thought it may appear sketchy if I offered an IPO last minute before the release. I wanted people see what they were investing in and didn't want to raise any more suspicion than I had already raised.

In regards to you comments about decentralizing the coin, I still make no apologizes. I feel there needs to be some form of centralization due to the nature of this coin, otherwise how are you going to guarantee the security of everyones gold? Regardless of the decentralized payment systems that cryptos offer, they still have to rely on escrow services when security is involved. MetalCoin is still decentralized at it's core, just like any other coin, we just want to centralize the elements that relate to security and price control, for the best interest of the coin holders. I feel we've made a decent attempt at addressing the issue of trust and security by offering positions to the community to help secure and operate this coin together.

Is solomining possible? Whats the port number?

Yes, you can solomine this coin with rpc port 21020

Thanks, I was wondering why the difficulty was so high :)

block explorer:
http://metal.explorer.ssdpool.com:9008/ (http://metal.explorer.ssdpool.com:9008/)

@echo off
TITLE VanityMTCCreator 1.1.0 - grtth3gr3at

CALL :GETINPUT

:GETINPUT
cls
echo You can terminate the batch job anytime by pressing CTRL+C
echo.
echo.
echo Official MetalCoin BTCTalk Thread : http://goo.gl/Chsqxs
echo.
echo ==============================================================
echo Please Note that the METALCOIN addresses always start with L
echo ==============================================================
echo.
echo and the prefix letters have been added for your convenience.
echo.
echo.
echo ==============================================================
echo Press 1 to create vanity MetalCoin Address.
echo Press 2 to exit.
echo ==============================================================
echo.
set /p Entry=Enter your choice : 
if "%Entry%"=="1" (GOTO MTC)
if "%Entry%"=="2" (EXIT)
if "%Entry%"=="" (GOTO GETINPUT)

:MTC
echo.
set /p Patt=Enter your vanity pattern : L
vanitygen.exe -X 48 L%Patt%
GOTO SAFETY

:SAFETY
echo.
echo.
echo ==============================================================
echo Please save your Private Key and Address safely.
echo.
echo Getting the Priv Key and Address printed is recommended.
echo ==============================================================
echo.
echo.

set /p a=Do you want to exit ? (y/n) : 
echo.
if "%a%"=="y" (GOTO GATE)
if "%a%"=="n" (GOTO GETINPUT)

:GATE
echo Created By : grtth3gr3at for MetalCoin
echo Version 1.1.0
echo Dated : 26/6/2014
echo.
pause
EXIT

Sorry, but what's this?  :o

You can create a wallet address that could start with your first name or something unique. most would not have more than 8 recognizable letters, or it takes a long time to create.

Is anyone else having problems finding info on the block explorer?

Just wanted to thank everyone for supporting/mining. All things considered, I feel the network hashrate shows interest, asic or not. Dank u wel allemaal!!

I'm working on getting us listed on an exchange, I'll be back with an update shortly.

just mentioned on Gryfen Crypto, Thanks for the post!

http://blog.gryfencryp.to/2014/06/25/metalcoin/#sthash.nt2Uwxs9.dpbs

MetalCoin is being discussed on CryptoCurrency subreddit, please contribute or upvote to support.

http://www.reddit.com/r/CryptoCurrency/comments/295k0k/metalcoinprecious_metal_reserves/

some other node since the wallet not connected?

Hey everyone, I'm revamping the concept once again. The new version will be more friendly for short-term investors and will be based on aggressive growth for 2.5 years which should culminate into 4 fully operational franchise locations, MTC growing around ten fold in value and as well as other incentives for coin holders.

I'll be back in a couple days with an update.

To all who support, thanks again!

I'm working on trying to get us listed on a major exchange. In the mean time, we're climbing up the list on a few voting pages.

https://www.allcoin.com/vote
http://www.ecoinfund.com/vote
https://www.kingcoiny.com/landing/index.php?page=voting

If we don't get listed before the weekend, I may just cave in and buy the votes to get us listed on ecoinfund.

I spoke with someone from Bittrex who said that they would list MetalCoin if enough people Tweeted "List @MetalCoinMTC on @Bittrex". I'm going to start the harassment now, feel free to join in. :)

Still working on the update, should be done before the weekend.

Keep up the good work MC. Still eagerly watching this  :)

i agreed in 30% premine,looks good too...nothing to loose if i try,...isn't???

Thanks guys, I'll be releasing the update later on today. :)

Looking forward to it

A new wallet will create bagholders?  what is done with the coins already mined?

Just released the details for v.1.3, I'll be around to answer any questions, PM me if you are interested in becoming a premine administrator.

Should get listed on ECoinFund.com within the next 24 hours or so.

I asked you a valid question.. what happens to the coins already mined or purchased and sitting in a wallet?  did you just create a crapload of bagholders?

All coins are accounted for in the projections, mined, premined and not yet mined. I have mentioned before in the op that this is a bagholders coin, similar to most other investment instruments. You have to sit on it for at least a short term. That being said, the projections are pretty transparent, one can easily gauge the how long they have to wait to make a profit and how much profit they should make at any given time, over the next 2.5 years, under the set conditions.

30% premine? too much man. 1 coin a block vs that.. omg!

SIS Siamese Coin has 0 premine and 2 coins a block.

Fair enough, but please consider that this coin has a life of 30 years and will be backed by precious metals and stock in a brick & mortar franchised business. This coin should not only hold a tangible value backed by a reserve, but may also create a huge speculative value do to it's rarity. Under the circumstances one can not offer longevity and growth without having some amount of premine to rely on. We are trying to address this concern by offering the public the help administer the premine balance as well as the bullion reserve.

Wallet doesn't snyc with the network.. bagholders from previous wallet are left with nothing.

Please read the op before spreading fud. The wallet itself was not updated, the concept was. The wallet will sync, it has just been a while since the last block was found.

I'm showing connections to the network, but my wallet still won't sync...

I'm also experiencing the same issue. I'm going to transfer the daemon to a different server today and will post the latest config file after doing so.

Any update with this? I'm still not seeing us listed. I'm not planning to sell anyways, but it would be nice to see the investment funds rise! metalcoin, I'd also make sure your putting a new post for everything that happens as well as updating the OP as it brings us to the top of BTCtalk and gets us more eyes, interest, and conversation. Hows everything else going? Is there anything we, the community, can help with to get this thing moving?

Also, was this fixed?

so much premine. i am not in.

Hey everyone. I want to be honest... this is not working. I'm not exactly sure why, it could be the timing, or the way I presented the concept or maybe the crypto world is not ready for this concept yet. I laid everything out for everyone and didn't receive a reaction at all, neither good nor bad, just nothing. This does not help the coin.

At this point, I’m not sure what else I can do. EcoinFund stole my money and will not list the coin nor respond to my emails. I've setup Ubuntu 14.04 on AWS, installed what I needed in the environment but still can't get the MTC daemon to work. The person currently hosting the daemon will not respond to my emails and the coding he gave me is incorrect. There seems to be no interest in this coin and I don't want to drag this out and create a bunch of angry people in the end. So, I would like to hand this coin over to the community for you to decide the fate of this coin. Whoever is interested in taking on the developer role for MetalCoin, let me know and I will send you the premine balance. The source code and wallet is available to dl from the op or metalcoin.org. I can also include metalcoin's social media, domains and hosting etc. If no one shows interest, this coin will go offline within a few days.

That being said, I want to be fair to the people that did support this coin, which is why I am offering precious metals to the following people;

- enjoi
- ArcticWolfie
- NoXx

Please email me your mailing address and I'll send you some bullion, in the next week or so.

Any 'supporter' not mentioned above, I'm sorry, but you're not much of a supporter. What do you expect if you can't even spend 1 minute of your time to pm me to collect free coins, or even post a simple supportive post?

I still can't believe that this coin didn't catch on, I suppose it's a reflection of where society is these days, not in a good state.

Thanks for all the stress!

Former Dev

Hey everyone,

I just wated to give you all an update. There are MAJOR developments happening behind the scenes, which should manifest in a month or two. Anyone holding any MetalCoins should hold on to them, or sell them back to me, as they will be quite valuble in the near future. Anyone that missed the train... what can I say, you REALLY missed the train.

Thanks again, Talk to you soon!

What kind of train was that, metal one?

AMA with Metal CEO Marshall Hayner
Metal CEO Marshall Hayner recently answered some of the questions Invest in Blockchain posed, along with those of others, in his latest AMA (Ask Me Anything). We have provided a transcript of the video below. Learn more about life at Metal, how the company is evolving, and how it will keep adapting to a changing landscape.

Metal runs a regular AMA during which Hayner keeps the community up to date with regards to company progress and updates. During these, he regularly answers questions posed to Metal by the media and the startup’s Reddit community. What follows is a transcript of the AMA.

Metal AMA Transcript
So we are here today doing our AMA – also known as Ask Me Anything – for Metal, a very cool payments company based in San Francisco, California.

My background started in cryptocurrency in decentralized technology as a hobby.

So I discovered Bitcoin in 2009, thanks to BitTorrent, spending a lot of time playing in those communities, looking at how we could grow this technology and what it would look like in the future, and I saw a really cool artist – Trent Reznor, actually – who showed up in one of these communities and said, “I want to release my music to the public. I want to use BitTorrent. I want to use this technology.”

And through that discussion, Bitcoin came up, and I said, “What’s Bitcoin, is that like BitTorrent?” And I started researching, and the journey began right there. I was fascinated. I was enthralled. I wanted to be a part of it. I saw the same excitement that I had with BitTorrent in Bitcoin, and I started exploring and I started playing.

So I was one of the first people there on Bitcointalk. I was buying a pack of socks. I was trading Bitcoins when they had no value, and then it suddenly took on value and it started getting really exciting. That was just the very, very beginning. From there, we started to really grow, and we started seeing some really interesting use cases, and we still, to this day, haven’t really scratched the surface.

Can you tell us about a typical day at the office?

Our typical day at the Metal office starts at 7 am. Our compliance officer is usually in the office at 7 am sharp to start the day, and throughout the next hour/hour and a half, we all start to pour into the office. By 9 am, everyone’s there and we do our morning Standup at 10 am, so everyone in the team goes through what they’ve been working on for the past 24 hours and where they’re going, and then we end the Standup, and then we get to work.

So the development department sits right next to the design department. The business development has their own little area, and then Compliance and I sit next to each other and we work together really closely. Throughout the day, we are going through our different projects on BaseCamp and checking off all the different projects that we need. Also going through our strategy and working on the different areas that the different departments need from each other, and we’re usually in the office ‘til almost midnight every night because we work really late. We work really hard. It’s easy because we’re having fun.

What are the roles that you are looking to fill as Metal expands?

Some of the roles that we’ve recently filled at Metal include the Director of Business Development, the Vice President of Business Development, our new Blockchain engineer, and our new front-end engineer. Additionally, we expect to bring on a backend engineer, another iOS developer, Android, and a plethora of other roles over the next couple of months.

Will you consider releasing a roadmap?

We did not put out a roadmap and made a concerted decision that we wanted to do it this way because I feel that most cryptocurrency projects create roadmaps that are unrealistic and don’t necessarily show the actual timeline of the company. So lots of times these deadlines are missed.

We have a very clear internal roadmap of where we want to go, and we feel that we’re really focused on the buying and selling of the cryptocurrency to match that roadmap. So we would rather just release the pieces that we are planning on releasing on the days that we know we are exactly releasing them, and we put that out to the public when it’s ready instead of giving an unrealistic timetable several years into the future of many things that may or may not happen.

As we’ve seen with other cryptocurrencies, these timelines are usually not met. But with Metal, we want to make sure that we meet every single mark on our timeline. So when we release a date, we meet it.

Metal has several different models for revenue. One of those models is the real estate in Metal itself. Proof of process payment (PoPP) works as a funnel to allow other cryptocurrencies to reach a wider audience. So we take a fee from those cryptocurrencies when they provide their cryptocurrency as a way to reach their target market as a marketing initiative, and that fee comes out of that funnel and we meet the requirements for the cryptocurrency – what their target market is and who they’re trying to reach. Additionally, we don’t distinguish between cryptocurrencies and brands. So if you’re Target or Starbucks or Best Buy, you can also use our same mechanism to distribute those rewards through proof of process payment. That is one of our models.

An additional model is the fee from merchant processing. So when we connect with merchant processors, they want to bring in more users, more from their merchants, and we bring it in with our customers. Through that, we develop partnerships through the revenue split for payment processing fees.

What happened in the Necker Cup?

In November 2017, Metal was the presenting sponsor at the Necker Cup, which is a really awesome event, hosted by Virgin and Richard Branson. It’s a charity-focused event where organizations come together from all over the world to raise money for charity. This year it was to help raise support for the restoration of the British Virgin islands after that hurricane, and Metal came together with the Metal foundation and some other amazing brands and companies – Manuca Doctor, a bunch of other ones which I don’t have time to mention here, but we came together for this cause and it was really really fantastic.

We spent some time with Richard Branson, with the Virgin Unite team, Premier Live, Destination Luxury, a bunch of amazing companies that are bringing their energy and their time here together to raise awareness for this cause for the charity. And through doing so, Metal was able to raise over a million dollars in under 30 minutes for Virgin Unite to restore the BVI, which we thought was really amazing. Additionally, we found some amazing partners, potential hires, investors, and really awesome, caring, influential people that we think can provide a ton of value to the Metal team and company.

Can you give any more definitive answer than “soon” as to when marketing and PR will begin?

We have brought on some amazing, very talented professionals in the PR space and the marketing space – all contractors at this point – and we’re going to bring on a full-time role. You are going to see a tremendous amount of high-quality press media, kind of like the video that you are watching today. That is going to be ramping up and reaching a crescendo at our launch time.

How long after making a transaction does it take to receive the PoPP?

How long does it take a user to earn PoPP after making a transaction? And the answer is – as soon as the payment is probably processed. So what does that mean? It means that when the payment comes from my external bank account and goes to your Metal account, when that payment is probably processed, you can earn PoPP. Now, if I have cash sitting on my Metal pay account and I send it to you, that means that you’re going to get it instantly.

What would I invest in a coin that is going to have a compound volume growth through PoPP? Won’t that depreciate the value of each coin?

The value of a network is based on the amount of users that are based on it, the transactional volume, what they are already doing, and the use case for it. We intend to create the largest user base and the largest use case that cryptocurrency has ever seen.

How do you envision the business model changing once you scale enough for maximum token distribution to be reached and users can no longer receive distribution rewards?

The idea behind the PoPP distribution mechanism is that it really never truly ends. So I get the question pretty often – what happens when the 26.341 million Metal runs out? And the answer is that we succeed. If we can get that many people over the course of a year, over a billion [users] / 10 billion plus dollars in payments, to own the currency, if we can bring on over 10 million of users in 1 year or less than 2 years, I believe that we succeeded. But it is my full intention that we can spread Metal out beyond a decade, that it may never truly end, because as the network grows, as the currency appreciates in value, our time to distribute increases. As time to distribute increases, Metal becomes an institution, a brand, a verb that’s well-known – I can Metal you.

Metal has a net distribution of 10%. Isn’t that too high? Are you worried about people taking advantage of this?

We came up with a 5% model because we looked at other cashback rewards products, other credit cards, and we realized that this is the sweet spot, the place we think is above traditional cash rewards programs. At the same time, it’s not so exorbitant that Metal would bleed out very quickly through the PoPP system. We are always worried about people trying to game the system and trying to get Metal where they shouldn’t have Metal. To this end, we have developed our anti-fraud measures, our anti-money laundering measures. And, as we start to get that data from the people that are playing games and what we call “psycho-money payments”, we develop a fraud risk score for the kind of behaviour that we want to avoid. Ultimately, this becomes incredibly valuable for fraud, for our AML to weed out the bad actors.”

you posted this in "MetalCoin", but you're referring to MTL (Metalpay)

The idea of a coin relative to others is not bad. Is there a modern analog (except for a komodo)?

Metal Pay "Discover" Window Preview. Sneak peek at the interactive side side of the app
https://www.youtube.com/watch?v=tzEJ8tQjhs4