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2601  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *15 Exchanges on: March 02, 2014, 08:08:11 PM
https://bitcointalk.org/index.php?topic=497029.0

[Analysis] Mintcoin – The rise and fall

As I am following MINT for quite a while, I want to give an analysis on this coin.

I will talk about following topics
1) Concept
2) Launch
3) Premine
4) Mintpal
5) Rise
6) Fall
7) Conclusion

Facts
1) Concept
The coin has a fast distribution with 100000 – 900000 block reward at the beginning, halving each weak, until it reaches 1 block reward after 5th week. After 20 days proof of stake kicks in and you can generate coins by so called minting. You will get interests of 20% in first year, 15% 2nd year and so on. As you can see, this coin will reward the early birds with a huge amount of coins and these owners will get exponentially richer by the PoS.
2) Launch
It was not a coincidence, that the the launch was scheduled on the very same day as Maxcoin. When the whole altcoin world was focussing on Max Keiser and his struggling coin launch, people started mining MINT without any trouble and low hashrate getting tons of coins.
3) Premine
There is a 1% premine of 700 million coins, which is effectively a premine > 3%, if you consider proof of stake. The developer keeps silent about the use of the premine, even though some people promoting the coin have received a few coins. If you look it up at the block explorer, you will clearly see, that the whole (!) premine has been already moved http://mintcoin-explorer.info/address/MpkWtkFfAUgSumHeTRP1XAW2bGMJQYQ6Ud
4) Mintpal
The Mintpal exchange was available directly after launch, it’s probably no coincidence that the name Mint is in the exchange’s name. For a new exchange Mintpal is surprisingly well designed and nice to handle.

Analysis
These were the facts, now I will give an analysis with some guesses, which might be or might not be true.
5) Rise
This coin is designed to get hyped, fast distribution following a scarcity. I would guess, that Mintpal is owned by the very same person / team who developed MINT. 
The coin was traded for 4 to 8 satoshis at the beginning, when after two weeks this coin got hyped over night. During one weekend the price shot from 8 to 60 satoshis with a trading volume of over 2000 bitcoins at Mintpal. Cryptsy decided to add it immediately, faster than any other coin I know of. But how could a coin unknown get a trading volume of over 1 million dollars? It is obvious that someone pumped this one to create a hype, everybody was following. If you assume a mean of 20 satoshis for one MINT, 2000 bitcoins equals 1 000 000 000 MINT. Who could possibly have so many mints to buy/sell?
The hype had two big effects:
   - Mintcoin got famous over night and a lot of people jumped on the MINT train.
   - Mintpal got big. Even though the wolong panda was traded successfully there, Mintpal had it’s breakthrough. It’s obvious that the owner is getting a lot of profit, as a lot of coins are added and traded now there.
6) Fall
A lot of people bought in when the price was 40, hoping this is the new doge reaching heights of 200 satoshis. The truth is that after the peak of 60, and a 2nd peak of 45, the value of coin was slowly decreasing. Compare this MINT graph
http://coinmarketcap.com/mint_30.html
to this pump & dump graph
http://robertnielsen21.files.wordpress.com/2013/04/ci6rr.jpg
Looks damn similar, doesn’t it?
After twenty days the so called minting kicked in, as this is a PoS coin, people are tempted to hold their coins for 20 days to get the interest. After the initial pump, some people can sell off their coins slowly, when people are sitting on their coins.
The developer of the coin mentioned here https://bitcointalk.org/index.php?topic=450381.msg5449543#msg5449543 that he will add a MINT/USD exchange, when the community contributes 5 million MINT. But wait? Doesn’t he own a 700 million premine? Isn’t the premine considered to be for exactly these kind of things. If you consider PoS, he could have minted 5 million in no time.
This is just a guess, but as the dev refuses to tell us about the whereabouts of the premine, I wasn’t surprised, if he has already sold off all his coins during the pump. When the price was stable at 40 sat, I saw people selling of millions of coins into a 39 BTC wall. Currently this coin is already at 20 sat continuing its downward trend since peak.

Conclusion
There is no pump without a dump and people losing money. As good as MINT sounded at first, look at the graphs now and tell me, if you would consider buying mintcoins now? The people believing in this coin are people who bought in at 40 sat and people from the very start owning tons of coins. 20% PoS in one year isn’t worth anything, if the coin has no value anymore in the fast life of altcoins. A lot of people made money by selling the coins bit by bit after the pump, when others were holding for minting and better times. The developer refuses to tell us about the 1%, effectively >3% 700 million premine, begging for 5 million coins, when the premine wallet is already at 0 MINT http://mintcoin-explorer.info/address/MpkWtkFfAUgSumHeTRP1XAW2bGMJQYQ6Ud Everytime the coin was on rise, somebody dropped a huge amount of coins to make some profit. People who bought in high are still waiting for the next pump, but truth be said, I don’t think this coin will reach these heights anymore. And if it rises it will be a mere pump of agony.
It’s hard to sell the coins now with all the losses, but I for myself sold off.
I know a lot of people are working hard for this coin and I appreciate this, but as long as the developer keeps silent about the premine’s whereabouts, this coin has no future for many investors and myself.
All this said, I still might be wrong, so good luck for anybody still believing in this coin. I wish you all the best.

Sincerely
221b



Exactly my thoughts  Grin
2602  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *15 Exchanges on: March 02, 2014, 07:49:11 PM
so POS is that you just keep coins in your wallet and you get more coins???

Thats right Wink
2603  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [GPUC] GPU Coin | Launch 02MAR14 | IPO Available on: March 02, 2014, 07:34:28 PM
Can anyone point me towards an AMD GPU miner for this Please!

Download vertminer from vertcoin forum, algo is same  Smiley
2604  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [GPUC] GPU Coin | Launch 02MAR14 | IPO Available on: March 02, 2014, 07:30:26 PM
No idea on how to setup my miner (i downloaded the VERTCOIN one) for pool mining with my 7970 ;\

I was using the classic: cgminer.exe --scrypt -o stratum+tcp://pool.com:3333 -u WORKER -p PSW -I 13 -g 2 -w 256 --thread-concurrency 8192

It makes the vercoin miner crash  Sad
Any idea?

It must be vertminer.exe -o stratum+tcp://pool.com:3333 -u WORKER -p PSW -I 13 if you are using vertminer, ignore other settings for now and just try this line and see if it crashes or not
2605  Other / Beginners & Help / Re: Another newbie here! on: March 02, 2014, 06:56:43 PM
 Grin
2606  Alternate cryptocurrencies / Announcements (Altcoins) / Re: ANN : Rainbowcoin (LGBT) on: March 02, 2014, 06:40:32 PM
Only Dev and no active community?  Roll Eyes
Care to throw some coins?  Grin
12cZgZP3eUeg63dkYULJf15VWQL4tVq3vX
2607  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *15 Exchanges on: March 02, 2014, 05:56:10 PM
Its fun to go to different coin's topics and through all comments and have a good laugh  Grin
2608  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [GPUC] GPU Coin | Launch 02MAR14 | IPO Available on: March 02, 2014, 01:50:59 PM
I need to add some more GPUs in my rig, looking forward for the launch  Grin
2609  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] GoldBars (GDB/GOLD) | KGW | Scrypt | Safe IPO | Rare on: March 02, 2014, 12:48:30 PM
will mine on launch, posting for notifications  Grin
2610  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Faircoin - The First Fairly Distributed COIN [PoS] 5 days to launch on: March 02, 2014, 12:16:58 PM
Seems nothing to lose here, not even hashing power so im in  Grin
2611  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][AUR][MANDATORY UPDATE] Auroracoin - a cryptocurrency for Iceland on: March 02, 2014, 12:00:19 PM
Widrawis ppending for auroracoin on Mintpal from 2 hrs. How much time more Sad

Did you confirm email? Mintpal will ask you to confirm email link they send when you submit withdraw. Once you click the link and log in to Mintpal, you have to go back to your email and click the same link again for proper confirmation, did you try that? If not try that now and you ll be fine  Grin
2612  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] HelixCoin [HXC] SHA3 - TPP LANDS THE VICTORY! - EXCHANGED on: March 02, 2014, 10:42:35 AM
Hashpower is decreasing gradually as the price is decreasing.  

More coins for miners who are mining it, pull out while you can Grin
2613  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] HelixCoin [HXC] SHA3 - TPP LANDS THE VICTORY! - EXCHANGED on: March 02, 2014, 10:36:47 AM
I never mined sha3 before can anybody help me out here

i got a 6950 card and the cgminer downloaded but cant figure out what the command lines are

i now have..


setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1

C:\xxxxxxxxxx\cgminer --keccak -d 0 --temp-cutoff 83 -I 19 -w 256 --thread-concurrency 8192 -o stratum+tcp://hxceu.nut2pools.com:6020 -u XXXX -p XXXX


But i doesnt do it
Are you using right miner? Normal cgminer doesnt work i think.. you have to have a different version of cgminer that works with Keccak algo, so find it somewhere in maxcoin or helixcoin forums as they both are same. And about your 6950 card i dont know the settings but -I 19 may not work, you have to lower down your intensity to 5,6, or around 7 coz this algo is different and you will get half of your hashing rate then mining normal scrypt coins.
2614  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *15 Exchanges on: March 02, 2014, 01:10:59 AM
lol this is all a scam.. if buys are plentifull... they will just dump through them.

this is just a crappy clone of velocitycoin/peercoin.

it will die.

 Everybody are crypto expert here, King of their own  Grin Grin Grin
2615  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] HelixCoin [HXC] SHA3 - Use the Helix Fossil! - LAUNCHED [2/28] on: March 01, 2014, 04:45:38 PM
Helix coin pool opened on miningpoolhub.com

http://helixcoin.miningpoolhub.com


0% Fee
US / Asia servers

Super fast, reliable servers ready.

Mining there, lets see when we gonna find a second block  Wink


Got second block!!!
Yay!!

Yep, all good  Cheesy


As a operator, I want to say more.
Our pool shows correct hashrate, right statistics.

Many pools don't show correct hashrate and their block finding stats at all.
Mining Pool Hub shows similar hashrate as user see on their miner
and opens all percentage of statistics.

Please don't mine on pools where they hide statistics.
It's very important to miners to compare between pools and scan whether the pool operator ate blocks or not.

Pools are not same.
Come to http://helixcoin.miningpoolhub.com and enjoy.

Good to hear that  Smiley
2616  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] HelixCoin [HXC] SHA3 - Use the Helix Fossil! - LAUNCHED [2/28] on: March 01, 2014, 04:25:56 PM
Helix coin pool opened on miningpoolhub.com

http://helixcoin.miningpoolhub.com


0% Fee
US / Asia servers

Super fast, reliable servers ready.

Mining there, lets see when we gonna find a second block  Wink


Got second block!!!
Yay!!

Yep, all good  Cheesy
2617  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] HelixCoin [HXC] SHA3 - Use the Helix Fossil! - LAUNCHED [2/28] on: March 01, 2014, 03:32:55 PM
Helix coin pool opened on miningpoolhub.com

http://helixcoin.miningpoolhub.com


0% Fee
US / Asia servers

Super fast, reliable servers ready.

Mining there, lets see when we gonna find a second block  Wink
2618  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *CoinPayments on: February 28, 2014, 11:42:20 PM
There is no stable thing in crypto, either its way too up or way too down, we have to deal with it.
 Grin Grin
2619  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *CoinPayments on: February 28, 2014, 10:35:51 PM
This coin is very unstable  Shocked
Which one is stable?  Grin
2620  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *13 Exchanges on: February 27, 2014, 11:02:57 AM
i am requested mint withdrawals but still pending for more hours Sad
Did you check your email? Should have a confirmation email where you have to click a link to confirm withdrawal



I confirmed sir but it is pending since 4 hours ago.

Once you clicked the link they send you on your email, that link asked you to sign in to MINTPAL, then again after you signed in, you have to go back to your email and click on the link again for confirmation.. seems little odd but thats how their site works so try it again as i said then you ll be fine i guess  Grin

wow  Grin confusing.resolved :-S tnx

Glad to know you got it, Cheers  Grin
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