Here's some real math for everyone, this should settle the infinite supply issue once and for all.

Counter-argument to coin supply hesitation:

Say we have 1.8M coins generated per day (approximation based on current block time and reward).  
At a constant rate, in 100 years we will have 65 billion (65,000,000,000) coins, which is 3,000 times the number of bitcoins.  
The current price of bitcoin is ~$1000.
So, if we have 3,000 times as many coins, and you only care about coin supply, then the price of Musicoin would be ~ $1000 / 3000 ~= $0.33.


In short, you're not going to be alive long enough to care about such inflation. On the off-chance that we discover the secret to immortality, I suggest selling off between 100-200 years from now because the price will half by that point and I would hate for you old farts to lose money.

Everyone talking about how the coin will lose value because it has infinite supply needs to consider that BTC still hasn't hit the cap. I don't think that's a valid point until several years in the future. Furthermore, by then there will be a mitigation strategy for the huge supply, most likely in the form of some type of PoS or a variation of it that allows the existing value to circulate without generating more coins infinitely. I mean, come on guys, READ THE WHITEPAPER.

Edit: Sane me apologies for the irrational behavior of mildly annoyed me. There has been talk of mitigation strategies for future DAG epochs that would switch the coin to a PoS-type approach, but development hasn't decided on a concrete approach yet because PoS would encourage long-term holding and that's not the goal for this coin.

I was making a joke about first batch miners trying to dump without exchanges, like what I did like two pages back haha

I have no idea what you're talking about >.>

Alright, let me rephrase that.
MY cost to mine exceeds your offer. Thanks again.

Cost to mine exceeds that offer, sorry.

I would be down for an OTC trade if anyone is interested. I'll do it in small(ish) amounts so there's little risk to either party. I've got 900k I would be willing to let go of, just PM me if you want to see about an exchange. I'm willing to use an escrow too, provided someone can find a trustworthy party.

There's still the matter of actually funding that listing fee. Which is a more achievable goal? .04btc and vote to get it listed or .1btc for an instant listing on an exchange?

Most often with coins like this I see exchange listings come in the form of a voting system. Unfortunately, that means using a shady exchange usually. I've had success with NovaExchange in the past, that may be an option for us to vote to have it listed for free.

Edit: I was informed that there is actually a .04btc listing fee even for voting on NovaExchange.

I got your back!

Paste the key for gmc (musicoin's geth client) into a text file, save it to disk and use the path to that file with geth account import. Here are some example Windows instructions that might help:

Open Notepad
Paste key into notepad without any extra characters or quotations
Save the file as nothing_special_delete_me.txt at C:\
Run the command, geth account import C:\nothing_special_delete_me.txt
After successful import, delete the file at C:\nothing_special_delete_me.txt

I'm seeing 887 blocks on the chain I'm on. Not really seeing any evidence of a forked chain. Anything you can share with us that would confirm or deny?

How often do you pay out?

It was clearly interesting enough for you to click on, spray FUD all over the place, and bump the post. That being said, thank you for keeping this coin's thread near the top of the ann page. Well played!

The economics will work in this way:
Miners influence supply. Higher supply = lower value.
Listeners influence demand. Higher supply = more listeners, therefore value rises proportionally to mitigate lowered value from miner supply.
Musicians sell music to listeners. More musicians = more sales, higher value. However, if listeners do not agree to purchase at higher value, value declines.
If miners fail to supply, value rises. Miners supply too much, value falls.
Musicians sell higher, volume rises. Listeners stop buying due to high value, value falls.
The cycle is a self-sustaining ecosystem.

With an approach of that nature, one that is self-balancing, it is not in our best interest to go to exchange so early, because we will artificially inflate/deflate the value of the currency without checks and balances from the other two parties.
Either we overvalue the coin and the price falls at launch, or we undervalue it and the price rises at launch.
Either way, we as miners will be affected negatively if we do this now.

The ones worried about the lack of cap may not have given much thought to how this is going to work in a real world situation. The goal is to have a music library to rival the big-name companies like iTunes. That means a BIG user base. What sense would it make to put a cap of the amount of coins in supply if the number of users could quickly exceed the market cap? I wouldn't want anything to do with a music service that I had to wait until someone decided to sell some coins on in order to listen to my music. An infinite supply means quick buys and easy listening.

It's simple economics. If supply is exceeded by demand, the price will rise and it will become a barrier to entry. If the demand exceeds supply, the price will lower and the barrier to entry is removed. They've given the coins a modest valuation of $.01USD/MC. That's a very fair price for anyone to pay to stream a song, and I won't go into detail regarding how the artists are paid because it's clear the naysayers don't really care.

Riddle me this, though. Will you be able to pick it up cheap at an exchange when it hits one? Probably. But, what are your plans for it then? Are you going to hold your bags and hope that somehow what you've bought becomes worth more? By the very logic I'm seeing you guys use here, your investment would be worth less the longer you held onto it. Maybe it's time to stop and look at the merits of the project as a whole, rather than just looking at it as an exchange coin.

All that was meant by "the team is poor" is that they didn't premine the coin, therefore won't be issuing bounties with payouts in MC because they themselves don't possess a ridiculous sum of MC.

You totally captured every fiber of my essence with that screenshot.

Try solo-mining first and make sure it's going to actually allow you to mine. There isn't another pool that I know of, but I doubt it would be hard to convince someone to start a pool considering you wouldn't be able to mine on the one we have, which would mean 1 less person able to support the coin.

Alright, there's a good chance there's a bug in the miner (and all subsequent versions) that would create the stack smashing. I'm willing to bet that miner will run every other algo and may even run on another pool using hmq1725 without any issues with your current architecture.

Alright, check to make sure you're using the right settings for your CPU architecture. Start with the standard cpuminer.exe and if that works, try to use one more tailored to your own build. I'm limited in scope of support because I don't know what your architecture is.