Oh man, it kills me everytime I see this thread because I still haven't gotten the extra money to buy one. I wish you guys could set one back for a month or something, that way there would still be one left to get after this next round of bills I have coming up. Very happy for your company's success though, excited to see future designs.
Highly recommended coins. And the price is so reasonable that it should be possible for most people to get one. See my review here: https://bitcointalk.org/index.php?topic=656910.msg7561573#msg7561573 |
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if you reduce number of total coins price will go up.or reduce stake.and demand will be higher..
Yes, in theory. But cryptocurrency does not always work like that. E.g. dogecoin had a huge block reward in the fist 100000 blocks (up to 1 Million coins per block). The block half was scheduled to be at 14th February 2014, the price for DOGE was pretty high 100-200 santoshi in the period up to the block half. Since the coin was so young, the half block reward would be a serious limit to the coin supply, and everybody predicted that the price would go up, due to theory of supply/demand. If the demand is the same, and the supply goes down, then must the price increase.... well.... the opposite happen, the price went down, down, down. And then did the psychology kick in, people start selling because the jump to 300-400 satoshi never happen, and the price have only gone down ever since. Anyway, the point is that you can not be sure that reducing the total number will increase the price, there are so much psychology in cryptocurreny that normal market theory does not always apply. |
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This is simply a discussion point - I have been working with several investors in different communities asking what would it take for them to invest in Mintcoin. This was a very BIG issue across everyone I asked; which is why I am bringing it back to the community for an open discussion. Please send the survey to as many mintcoin community members as you can as I am trying to get solid data point which I will openly share with the community and discuss next steps on the discussion (if any).
I can tell you so far out of 20 people only 4 agree with the current market cap for what it's worth.
It is good to have it discussed. And doing nothing can also kill the coin. |
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I agree with coolbeans94 in pretty much everything he said. The only real advantage of changing the parameters (slightly) is the advertising effect of changing the coin - so we can re-launch the coin and attract new people. Are you serious?  DO NOT CHANGE THE COIN!!!! 1. The high number of coins is irrelevant...More is actually better because it gives the the coin liquidity. 70,000,000,000 is good don't change it. 2. The current interest rate needs to be high somewhat high at first and is a good thing especially in the early years. POS is how the coin is secured, and so if the POS reward is not high enough, it will not incentivise people to hold their wallets open and do POS minting actively, so the security of the coin relies on this. Do not change this! 3. The coin cap is needed to make the coin rare, so keep it. Once the cap is reached only transaction fees will remain going to the POS minters, and if you are concerned about it becoming too expensive, the only change that we will ever have to do is lower the transaction fee form time to time. The only change that we should ever do, is lower the transaction fee from time to time (probably many years away from now).P.S. I have a lot staked in this coin and love everything about this coin. The type of changes some of you are talking about would destroy and deform Mintcoin so badly it would suck! I understand how POS works, I also know economics, et al. ( I have a finance degree, and work in the finance industry. I have experience, with economics and financial analysis work, I just want you to know that I know what I'm talking about. Mintcoin is very very good. Please don't change it! If you want it to grow more, then focus on developing it's usefulness, Android, Merchants, etc., not changing the parameters of the coin.) Do not change the parameters! The parameters are what makes Mintcoin uniquely Mintcoin. Changing them would be making an entirely different coin. |
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I havent ordered off them yet personally but I have ordered from coininvestdirect without issue. Im all in on gold at the moment but looking to diversify shortly. Lots of reviews on the forum below on silver-2-go + they have a rep on the UK forum - http://thesilverforum.com/If you google them you should find plenty of independent reviews. Thanks, sending PM, not to highjack this thread more than already done. |
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I believe the coin is dead... |
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Mark, have you tried ordering from them? are they trusted and recommended? |
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not in the UK due to silver being taxed 20% for VAT
Not true, you can buy from Estonia with far less (no tax?) online. Never a good idea to buy in the UK. can u provide links to cheap silver in Estonia? Please use my affiliate link for Liberty Silver based in Estonia who have no VAT on silver, I get a tiny percentage commission  https://www.libertysilver.ee/?r=86
I am actually thinking about ordering some panda's this week, do you have any experience with Liberty Silver and shipping inside E.U. ? |
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So I guess the question is, where's the balance that will both bring in new investors and secure the network?
Any real investor wants as small a float as possible. So 6%, 5%, 4%, 3% ?
I'm curious, probably a stupid question but if POS is needed to secure the network, what secures the network when the Minting is finished years later?
That is a good question. The answer is in the OP, the reward continue for infinite with 5% after 3rd year. Bitcoin for example has a fixed number of coins (~21mil), the block reward will eventually go to zero, at that time is it believed that the network is so widely used that miners is motivated to mine strictly to claim the tx fees. Specifications
-Pure PoS
Other Specifications:
...
- PoS variable interests:
- 1st year: 20%
- 2nd year: 15%
- 3rd year: 10%
- 4th and subsequent years: 5%
...
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Excellent news on the Android Wallet. Happy to volunteer for testing on this.
As to the POS rate, my personal preference would be to eliminate it all together and cap the coin at its current distribution. In my mind, this would immediately bring value (scarcity creates demand) and give the coin a fighting chance to come back from the dead.
What it would mean of course, is real adoption and development would carry the coin forward, not hypothetical riches from speculation (that hasn't really worked out so well has it?).
Given that I'll probably be the only one in favor of capping the coin at it's current distribution, my next choice would be on your low end of the scale at 6%. But I would strongly suggest to holders to eliminate it completely if they really want to see their investment rebound.
And capping the coin at its current distribution, would I believe solve the coin manipulation problem almost immediately.
I am open to ideas, I read you post with great joy. However I have a few questions: How would you secure the network if not using PoS? Are you suggesting to switch to PoW and set the blockreward to zero, and only maintaining the network with transaction fee's? |
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This is a nice silver collection, there is a few gems hidden in there  Good luck with the sale! |
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This coin needs new devs
... and algo ... and a priest |
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It's my mission to become the first BitcoinBillionaire! Who cares for FIAT Trillionaires, if you can have a trillion Bitcoin!!! There can only be ~21 million bitcoins in existence. |
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I won't go with "nothing". My answer is, "whatever is profitable enough to invest in ASIC design and development". So, if X11, or BobsMagicHashingFormula becomes the next big thing, then somebody will develop an ASIC for it. If there's money to be made, somebody's going to make it . Perfect answer. You will notice coins say asic resistant. They do not uses (or should not) proof. If there is a big enough market share there will be a product for it. A n/x11 would be nice but I don't know if or timeline we will see that. Scrypt and of course SHA-256 are controlling the game right now. In fact, an X11 ASIC was a project I wanted to take on. I'm well aware of the capital required to produce ASIC's but if the cost can be justified and an FPGA implementation followed by a few sample batches produced ( well under 500,000 USD I hope, but if costs get out of whack this is gonna be one hell of a project  ) I think the garnered interest could be used to develop one. Of course, I'm talking in very loose terms. Making my own ASIC company has been a long time dream of mine. I've heard plenty of "you're not going to make it" or "somebody get rid of this noob" but I honestly don't care. Just gotta pull through. I'm just gathering some useful data for that venture If you can make a functional X11 FPGA miner, then is the step to a ASIC really not that big. |
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but there are only 40 of them I though there was about 435 of them left, is my information wrong? |
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Exactly. I've seen them sell for BTC1 since they are the rarest sub-10 btc Casascius coins. There are only 804 coins active as you can see here: http://casascius.uberbills.com/The Casascius Silver 0.5 BTC with Series-2 hologram is the rarest sub-500 BTC casascius coin - only 45 made. |
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We were moving offices and for some reason I peeled off the hologram of EVERY coin and redeemed the private keys I dont know why I did it. I may have been in a mood to condense my Bitcoin into 1 spot and I literally sat there for two goddam hours redeeming those coins.
What a shame  There is one positive aspect though:You where testing and verifying that Mikes's private key generator works flawless. |
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Just cant let this go for less than 20btc.
Thanks, a little too steep for me though. Good luck with the sale |
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How much are you looking for, for the 10BTC?
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