Bitcoin Forum

Following a long period of uncertainty, stalling, and outright deceit, Mintpal.com has finally shutdown. A visit to Mintpal.com reveals a short statement which does nothing to allay the fears and worries of traders who still had funds hosted on the exchange, and it is beginning to look as if we will never see our balances again.

Mintpal.com was once considered by many to be the best alt-coin exchange on the market, however throughout the past several months we have watched it steadily decline into a pit of complete obscurity and irrelevance.


The goal of Renascence is to purchase Mintpal.com from the current owners, and relaunch it under the V1 platform, with a new name—Renascence Exchange. Frankly there was not much wrong with the original platform in the first place, and it only needs a few visual and security updates before it once again matches the industry standard. Another step in restoring Mintpal.com to prominence is cutting back the current coin listing until only the best and most established coins are represented. While we think there is a place in the market for new coin launches, our exchange will not be that place. We will of course allow a probation period of two weeks after the relaunch, to allow people to access and remove their coin balances.


Renascence (RNC) is a profit sharing coin which allows members of the cryptocurrency community to invest directly in the relaunch of Mintpal.com--to clarify, the original platform will be relaunched under the new name, Renascence Exchange. Purchasers of the IPO will be allotted profit-sharing percentages based upon the percentage of the IPO their RNC holdings represent. This IPO provides our team with the additional funds necessary to both purchase the website and relaunch it in a swift and secure manner.



The total Renascence supply will represent 50% of the profits from our Mintpal.com relaunch, and this percentage will degrade by 5% every year, until it hits a floor at 25% where it will stay for perpetuity. This declining slope is meant to balance the increase in revenue which Renascence Exchange will experience as the platform once again regains its prominence in the industry. This slope is designed to allow for investors’ profit shares to remain profitable, while allowing our team the funds necessary to continually update and maintain the exchange. The POS implementation offsets this downward slope, as it allows loyal investors to increase their investment percentage through the staking of their Renascence Coins.


The IPO will work in three stages:

Stage         Investment Cap   Price Level        RNC Supply      RNC per 1% share    1% share price
1st stage   0 – 30 BTC              5000 satoshis       600,000      54,5000 RNC             2.725 BTC
2nd stage    30 – 100 BTC      7000 satoshis         1,000,000      54,5000 RNC             3.815 BTC
3rd stage   100 – 200 BTC      8000 satoshis       1,125,000      54,5000 RNC             4.360 BTC


To invest in the IPO, send your investment BTC to the addresses listed below, and save the BTC address which you used to send the BTC. Once the IPO closes, this BTC address will be used to tie you to your RNC address, where you can collect your IPO coins. You Must Save This Address!

Send your investment funds to the following address:   13QgmXyS8CNeoJPwHufFiuD1PYoA6cx1LB

This IPO will run until October 30th, as November 1st is the deadline given to us by the current owners of Mintpal to submit our bid for the platform. Upon the closing of the IPO, all unsold RNC will be destroyed, however, the number of RNC needed per profit share (54,500) WILL NOT change based upon unsold shares.

Wallets, block explorers, translations, and the code itself, will all be released upon the completion of the IPO.


1. Our team has resources necessary to purchase Mintpal.com with our own funds.  We are running this as a profit-sharing IPO so that relaunch can truly be a community effort, and so that we have ample funds to restore Mintpal.com to a profitable state as soon as possible.
2. In the event that we do not win the bid for Mintpal.com (this is an unlikely scenario, based upon the starting bid given us), all investor BTC funds will be returned to their owners, and RSN will not launch. This is another reason that it is imperative to save your sending BTC address.

•   A FAQ based upon questions which arise in this thread.
•   Renascence team member biographies, detailing or backgrounds and proficiencies.
•   Roadmap containing dates and timelines for the relaunch of the exchange.
•   Budgetary breakdown of where the IPO money will be spent.
•   List of coins to be kept on the relaunched exchange.
•   Details on investor rights, and the role they have in choosing new coins for the exchange
•   JOB OPPORTUNITIES!   
          o Programmers, web developers, graphic designer, social media manager, SEO specialist, and content creators. Please send your resumes and any relevant portfolios to RenascenceExchange@gmail.com

Our goal is for Renascence Exchange to be the pinnacle cryptocurrency exchange available on the marketplace, and for it to truly be a community exchange. Invest today, and secure the future of cryptocurrency trading!

Email: renascenceexchange@gmail.com
Investment Address: 13QgmXyS8CNeoJPwHufFiuD1PYoA6cx1LB
Twitter: https://twitter.com/Renascence_Ex

 

Robot sex nickels already claimed the RSN ticker.

I'm not sure how we missed that, since Robot Sex Nickels is such a prominent coin in its own right. However, coin tickers can be easily changed in the pre-launch period, and we have changed Renascence's ticker to RNC to reflect this.

Thank you!

I kind of have a feeling this coin is gonna be the next thing  ::)

Everything seems like a scam to someone who has been scammed. And rightly so, as I would wager that most of us here were scammed by Moolah/Mintpal during this last fiasco.

While there are good exchanges currently available for people to use, ever since Mintpal V1 fell from grace, there has not been a solid exchange whose sole focus is on good, established, and legitimate coin projects. This is the role Renascence is going to adopt. A cryptocurrency exchange built by the community, for the community.

So you want people here to send you 200 BTC without any escrow?

Our team discussed escrow possibilities at length in our preliminary planning meetings, as we anticipated that many potential investors would see the lack of escrow as a concern.  First, let me point out that RNC will be available for purchase on the exchange shortly after launch, so latecomers will still be able to participate in the profit shares program (assuming initial investors take the opportunity to lock in some profit and sell a portion of their IPO coins).

Regarding escrow, it is of paramount importance to the Renascence team that we remain responsible for our funding, our exchange, and our reputation. Too many bad actors in crypto are making shady deals, and then blaming their mistakes upon situations and events which were "outside their control." The reason for us not using escrow, is that we want to remain in control of the investor funds at all times, since ultimately, we are the ones responsible (and answerable to the community) for their proper use and allocation.

If you have reservations about investing in the early stage of the IPO, then be assured that there are no hard feelings--you are always welcome to buy RNC off the exchange after the launch, or just watch from a distance if that's your style.

Thank you for your question though, and for your interest in this project. Welcome to Renascence :)

We've only been launched for half a day, and already almost 10% of the stage 1 IPO are sold. It looks like you're not the only one who thinks that!

This response actually makes more sense than I want it to.

no offense, but mintpal will never become anything no more.
it has lost its credibility, everybody wants his btc out and never return there no more, its imho useless to put effort and money into this.

furthermore, why dont u start your own exchange without an ipo? there is nothing special about mintpal..and they have managed to ruin their name within 4 weeks.
you can get a new name, new management, no debts (if there are any)


you wouldn't need extra funds to restore anything if you just start your own exchange..


all in all it doesnt sound good or attractive to me at all.

good luck though, especially to people pouring their money in.

If the community would rather, we could use a trusted escrow service such as Moolah.  .....Oh wait!  Nevermind, I think we'll remain responsible for these funds ourselves, and not trust third party escrow services with our investors' money.

Where are you guys from? Do you have a phone number?

Perhaps we could have been more clear in our ANN, but we ARE starting a new exchange--Renascence Exchange. It will simply be built upon the Mintpal V1 platform, because frankly, we can bring it up to speed for a lot less expense (and time) than we could by creating our own from scratch.

There are two reasons for running this as an IPO:
1) The extra funds will allow us to get everything up and running sooner, by providing the means to hire extra full-time and part-time staff to expedite the process. 
2) We really do want this to be a community project, and we think that offering profit shares is the best way to get the community involved.

The teams' bios will be coming soon, as well as a FAQ section.

Oh good, please provide real contact information, not just a generic email.

Using an archaic version of a word in order to be original?

Not very original.

i dont knw if its just me but excuse me for being so cautious here but announcement sounds like this

http://i62.tinypic.com/f5dp51.jpg

if you are not please provide your bios asap

scam coin link with probably same dev here

https://bitcointalk.org/index.php?topic=788907.0

https://bitcointalk.org/index.php?topic=761880.0

again if you are not prove it show bios asap thanks

Better to watch this,...

 NO  >:(
http://i62.tinypic.com/2v8gv3r.jpg

no escrow is definitely a scam!
dev choose one ,or the community will throw you!

So Hero member doing escrow are shady and you who posts as a newbie are trustful ;D
Worst excuse for not wanting escrow.
Together with your reference to mintpal...
It just looks like you want your piece of the cake and the mintpal fiasco gave you a bad idea...
(such as "... and if it was me who was running with people btc and not them"  ;D).

lets call your coin an attempt to scam people and move on...  ;D

you know i know, right , so i pass

so many scammers in the community,
really tired of them.

i read his this is the next thing with rolleyes more like

this is the next shareXcoin ........