Reminders: Donations, Windows Wallet (obsolete?) MnGe4uq2zbVqevCdhP3jrPShVThehpamqc I did indeed pledge 1 million MINT for a working windows wallet earlier, for now though, it seems it would be better to contribute to the online wallet initiative. I'll give 1 million MINT for that, so long these conditions are met: 1. The online wallet supports 2FA i.e. Google Authenticator 2. There is a clear link to an exchange (such as Vault of Satoshi) with clear instructions on how to purchase Mintcoin and send it to your 'account' So in other words, the main page of the online 'Mintbank' provides some basic information on the coin and steps for getting started. I do pledge 300k also. Additional requirements : The site running it shall be secured from being mtgoxed. It would be best if there were audits like the one Kraken made that all the deposits are actually there. On the monthly basis. |
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honestly, the last how many pages are people just saying how great of an investment the coin is, with nothing to back it up. It's teetering at 3 sats, for crying out loud! You can say "more cheap coins for me" but without volume or outside interest, you'll just be one of a few people holding a lot of useless coins. I feel like that's just a kneejerk statement for people financially and maybe emotionally invested in something they don't want to see go away. I mean i'd say it's low risk to buy and hold a few at this point in the sense that it doesn't cost much to get a nice chunk, but at the same time, I don't see it moving without innovation and direction and community involvement. I skimmed MP and estimated over 125 bitcoins worth of Mint sitting on the exchange for sale, and not "Minting" with such a high interest rate. Why is that? Mint was the first alt I got into, but have lost confidence in the last month or so and it's hard to find reasons to gain it back.
Look at blackcoin - Android wallet, already live on Google Play. Coinkite tomorrow (know that one's a sensitive subject but at the very least a gamble that seems to have already made people take notice). Online wallet with anon and multi sig features coming soon. BC centric exchange in the works. PR firm. It has volume and interest and it definitely sees manipulation and whales but what coin doesn't? Then there's all the X11 X13 coins coming out (see Mastiff announcement tonight) and people are flocking - whether longterm or short, that is to be seen of course. I'm not saying p&d's are good if that is what is happening, but they do bring attention and money flowing in and out. It can keep you on people's radars to 'buy time' for devs and community members to grow the coin and keep people hooked.
i think it is a great analysis with following features needed for mintcoin: android wallet payment processor (coinkite) online wallet anonymity all these features can be developed. no need to be the first. but we need to see some statements from anyone (devs?) that those features are planned or being developed except for the android wallet. if not it will be difficult. but still it can be done and the price will rise accordingly. |
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Any info on how the wallet is secured? Official announcement would be great. I will definitely use it if it's safe.
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Yeah tell us more about the Web wallet. Amazing that such thing is within reach. Web wallets are really important for new users.
How is such a wallet secured? Are PoS interest rates the same? Can the web wallet be accessed anonymously?
Thx for the information
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So fluttercoin devs release a web wallet I have been talking about in the next couple of days. Maybe someone would then port it. It can't be that difficult as mintcoin is just PoS. Mintcoin still has better interest rates. So maybe mintcoin can still compete. I am sure Web wallets are the key for new users.
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A bank? Am I reading these posts correctly?
Think you might all want to read the current interview with a former COO of Skype and understand why doing anything that requires us to engage the current fiat infrastructure is like the kiss of death to ALL cryptos.
The whole idea is to decentralize - not centralize.
You're going backwards.
We need to move forwards.
It's just an online wallet we are talking about. For mintcoin beginners and new investors. Because the start can be a bit complicated for the average user. It is centralized but there are a lot of people like you believing in decentralization that can still use the mintcoin wallet. I chose the word bank to emphasize the interest rate aspect. I hope you understand. |
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5 % might seem reasonable now but what in three years ?
It's just a number for starters. Seems like a good incentive for someone to start this bank. It can be of course modified. |
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why aren't exchanges actually minting? is it included in the protocol?  of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets. the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer. Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues. it's the only reason? what do you mean by reserved for minting? in the wallet the coins are available for transaction. except for when they're being staked. but they are not staked for long and then become available for transactions. i don't think that this causes much problems. worst case you get a message "you're coins are being staked right now, wait x min before you can make a transaction". or am i wrong? Minting means a lot of complication because it reduces fungibility (coin age) and works bad with hotwallet. The main issue it technical, I'd say A mintcoin bank is a good idea and the fact that Reddit likes it goes the same way. It could even be like "5% of minting goes to the server cost and Mintcoin Fund". Our present list of developpers is: mintcointeam Paspi (congratulations on your progress!) Kergekoin unek (?) Some people I've forgot? guys, beside the android wallet is anything going on? any PR campaigns? what is/are the devs up to? any thoughts on adding anonymity features? they seem to be fancy right now.
It should be hard to implement But it's novel Let a person very curious Will be handy If we can implement it is very nice  PR campaign is the Mintcoin Fund. I made significant progress on it today. Unfortunately, the French Administration is closed until Monday. So how about an official bounty post for this online wallet? Could you organize it David? Or beaverslayer just the way it happened with the Android wallet? I pledge 300k 5% for the service seems reasonable. I really would like to hear the opinion of people who can actually program such a thing whether it can be done. |
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But as i said i have some ideas how to simplify it.. Can you share some more details and how you plan to simplify it? I think that it actually being over complicated a bit and coin age isn't relevant when you're dealing with exchanges anyways because they're constantly moving the coins back and forth between their own wallet and therefore there's no real way to see how much each person has earned regardless Posted From bitcointalk.org Android App This is not about an exchange and moving coins within one wallet. So, yes it can be very simple i guess i miss read your first post. One have to require people to not move their coins in a certain time period that is a couple of days more then minimum coin age to ensure they stake. Maybe 30 days. If they move them before no interrest is payed. Yeah, the problem is exchanges don't keep coins in the same addresses you deposit them into. ie. I make a deposit of 100k MINT right now. That's put in Address A. Later on, when the hotwallet hits 500k (due to 4 other depositors), 350k coins are going to be moved to the exchange's cold wallet, Address F (including coins of mine, B, C, D and E) From time to time the hot wallet will need replenished. This means coins are moving back from F to another address for sending out. When we make the deposits is irrelevant because the exchange is going to be shifting things back and forth between hot/cold wallets and addresses for paying out. I can't see the connection between the banking idea and an exchange? I figured the bank would be doing things safely. This means moving coins to cold storage instead of having them all in the hot wallet. If this is wrong, that's a HUGE liability and I'd recommend avoiding it. If you deal with cold storage, you're moving coins around from cold->hot->cold as needed to meet the demands of depositors. This means coins are being moved from one address to another. If I deposit 1k coins today, those won't be minting from that address since you'd be merging them with others through the hot->cold process. That can be easily solved by the coin control features already integrated in the mintcoin wallet. I already use only the recent coins for transactions while my older coins are staking. I think people will understand if their coins are staking so they can't use them instantaneously. Or that they lose their coin age by moving the coins. Most people will just put the money in their wallet and let it there and collect interest. Just like a bank. |
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why aren't exchanges actually minting? is it included in the protocol? of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets. the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer. Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues. If you don't know what you are talking about don't reply. Fractional Reserve banking is when a bank only has to have a fraction of the funds on hand that it is lending. Since an exchange doesn't lend money your claim is ridiculous. However it is clear that most people aren't ready for cryptos. The point of it is to get away from banks etc, not recreate the mainstream financial system on a small scale. I will suggest you read up on what it means on Wikipedia or some other resource. This is quite literally exactly what minting does: I have 1500 coins. I am staking 1000 of them (lending them to the blockchain to be added into a new block). If someone wants to withdraw 1500 coins, they can't because I don't HAVE 1500; I only have 500. I have to wait until the rest are returned from the blockchain/minting process before they can be sent out again. You are wrongly conflating a superficial resemblance between some details about various types of financial transactions and coming to a faulty conclusion. POS staking is only temporary unavailability and if POS were anyway analogous to FRB you WOULD be able to withdraw those coins during minting, in effect creating money from nothing. Instead the unavailability of staked funds is for a short duration only, the stake is returned to your wallet within minutes, AND since the stake cannot be "loaned" (withdrawn actually) during the staking process when the funds would be in "reserve" it is totally unlike fractional reserve banking which requires that loans exceeding the reserve be made. the minting process is analogous to POW mining, funds received from minting are recompense for securing the blockchain and has absolutely nothing to do with lending practices such as fractional reserve banking. how long are the coins actually staked? 5-10 minutes? that's not that bad. actually i'm not talking about a bank in the sense of a financial institution. what i am suggesting is in fact an online wallet which makes it easier for people to start with mintcoins. i think such a thing is crucial for the mass adoption. the strongest argument for using mintcoins are the high interest rates. i think we should focus on that and make it as easy as possible for new investors. also i think we shouldn't make things to difficult legally by including a fiat exchange. that's really complicated on many levels. i think a big wallet people put their mintcoins into is legally absolutely clean. just private persons putting their cryptos in a wallet. nothing more. AND it can be done anonymously which seems to be a BIG point right now. |
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guys the bank idea was received positively on reddit. there are already people promising bounties. I pledge 300k for such a site. Maybe others are interested too and a big bounty can be organized?! Who also wants to contribute? http://www.reddit.com/r/MintCoin/comments/26mawr/mintcoin_online_bank_discussion/maybe a word from more techy guys/dev whether this can be accomplished? or if the protocol is preventing such a thing? |
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why aren't exchanges actually minting? is it included in the protocol? of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets. the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer. Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues. it's the only reason? what do you mean by reserved for minting? in the wallet the coins are available for transaction. except for when they're being staked. but they are not staked for long and then become available for transactions. i don't think that this causes much problems. worst case you get a message "you're coins are being staked right now, wait x min before you can make a transaction". or am i wrong? |
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why aren't exchanges actually minting? is it included in the protocol? of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets. the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer. |
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hey guys, what about a MINTCOIN ONLINE BANK?
a simple site where you can login with an email and a password (possible anonymously using Tor). There you have your own Mintcoin account where you can send money to or withdraw money.
behind all this is a person/dev/institution/fund with a huge wallet running 24/7. they can charge you a bit for running the Bank but you will still get your annual interest.
advantages:
- simple for average users
- don't worry about your wallet not minting, wrong wallet, slow wallet or energy costs
- accessable via any PC, smartphone, tablet (also the apple products)
- anonymous
disadvantages:
- you have to trust the organisation/people running the bank
- network security (i still think a lot of people would run their own wallets)
I hope some people are interested in discussing this suggestion. I would give a LOT of my Mints as a bounty if this is really developed. I think it's even better than the android wallet.
Cheers
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you will never convince anyone to invest in a coin which loses its value over and over. at least it should stay at a certain level for some time. and if it's 1 or 2 that's fine. because of the staking it still is a good investment. but as long as it is losing value it can never attract new investors. just my opinion. wait till it finds a new ground.
This is so wrong it's ridiculous. So you're saying Bitcoin will never go back up because it went down in value 6 months in a row, right? The absurdity of your statement baffles me. And it's already been proven wrong (check out BTC over the past week). unfortunately you can't compare btc with mint. btc has thousands of projects which make it valuable. thousands of people with ideas working on making btc more valuable. thousands of people mining it. thousands of people speculating on it. mintcoin doesn't. mintcoin's strength lies in PoS. maybe the time isn't right for it yet. we'll have to wait. please tell me if you yourself are buying mintcoin right now. or if you also wait. I'm buying MINT. thank you for that. of course i will buy mint too. problem is i don't have money right now so the downward trend isn't that bad for me personally. |
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truth is most people in mintcoin can only spread the word about it's features. personally i don't have no coding skills or businesses. i think most people here don't do also. i also don't really think being on more exchanges or adding more small shops which accept mint will increase the price. i see mint as a bank. i want to put money in it and rely on the interest rate. most people in crypto are mining or pumping/dumping. wait for cryptos to become a thing every average joe can understand. i truly believe in PoS and i think this concept is best for the average consumer. i think Mint will do just fine when i can tell my friends "hey look, mintcoin price was stable for 3 months now. and i was gaining interest on my savings the whole time. so now i have 1,5% more. if you want some mint i will send you some". it is just my point of view. of course i try to make mint more popular by pushing features i believe in like the android wallet or the quickcoin thingy. but you can't rush things and i think everybody has just to figure out whether he believes in the concept of Mintcoin or doesn't. because it's the main thing which discerns mintcoin from the other coins.
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you will never convince anyone to invest in a coin which loses its value over and over. at least it should stay at a certain level for some time. and if it's 1 or 2 that's fine. because of the staking it still is a good investment. but as long as it is losing value it can never attract new investors. just my opinion. wait till it finds a new ground.
This is so wrong it's ridiculous. So you're saying Bitcoin will never go back up because it went down in value 6 months in a row, right? The absurdity of your statement baffles me. And it's already been proven wrong (check out BTC over the past week). unfortunately you can't compare btc with mint. btc has thousands of projects which make it valuable. thousands of people with ideas working on making btc more valuable. thousands of people mining it. thousands of people speculating on it. mintcoin doesn't. mintcoin's strength lies in PoS. maybe the time isn't right for it yet. we'll have to wait. please tell me if you yourself are buying mintcoin right now. or if you also wait. |
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you will never convince anyone to invest in a coin which loses its value over and over. at least it should stay at a certain level for some time. and if it's 1 or 2 that's fine. because of the staking it still is a good investment. but as long as it is losing value it can never attract new investors. just my opinion. wait till it finds a new ground.
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yeah, nothing left to do but wait and see. in altcoins there are always pumps and rises at any time. so just hold. or sell at ridiculously low prices  |
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how big is the blockchain? i don't think the issue can be solved without the download of the blockchain or is it?
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