OK, guys and girls. Lets calculate how many coins will be mined until PoW reward goes to 1.
Reward change target is one week. This is 2880 x 7 = 20160
First week.
500 000 x 20160 = 10.08B
second week
10.08/2 = 5.04B
3rd 2,52B. Actually its less than 2.52B from here, because PoS blocks start to appear in block chain from day 20.
4th less than 1,26B
5th less than 0.63B
OK. Lets compound. 10.08 + 5.04 + <2.52 + <1.26 + <0.63 = Less than 19,53B. Probably only around 18B is close to quess.
This is only 70B/18B * 100 = 25.7% of total coins. This means that almost 3/4 of total coins will be generated through PoS blocks.
Lets quess the estimates of PoS now.
Assuming that 18B will be generated through PoW. the PoS interests will be as follows:
18B *20% = 3.6B. Total coins of 21.6B after year 1.
21.6B *15% = 3.24B. Total coins of 24.84 after year 2.
24.84B*10% = 2.48B. Total coins of 27.32B after year 3.
OK. You see where this is going. This coin will not reach 70B coins any time soon.
If this coin gains popularity and gets some demand, then price of 200 + satoshis is very probable.
Please keep in mind that simple math done above is just rought estimates and not exact numbers.
Hopefully this post helped to generate point of view about this coin progress.
This implies that the premine is actually 19,4% after one year, which is obscene. This will undermine the coins chance to succeed. Let's all together put pressure on the dev to make public all the spent premine coins. Or even better: let him destroy the premine. Please correct this wrong figure, it's no where near 20%. That would imply only 3.5 billion coins exist after 1 year which is false from what you quoted. 700,000,000 / 18,000,000,000 is not 0.194... it's 0.03888 ~ 3.89% This means the premine is basically 3.89%. Admittedly this is still quite a lot higher than what a lot of people probably thought. It's made worse by the fact that it will generate PoS too, meaning it will ALWAYS be 3.89% as long as the dev doesn't spend it or move it (to decrease coinage). If they don't move it / spend it, it'll likely increase (in %age terms) as other move their MINT around destroying coinage. I do agree that the dev team should be more public about where the premine is being spent and used though  |
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So this requires a hard fork?
If not, will PoS already start to work during PoW phase? (Since it's >20 days long)
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So after the PoW phase, (3 weeks) then block reward is only 1 coin. And then all PoS minting. But to mint PoS you only need to turn on your wallet once every 20 days. So who will be running the block chain (securing transactions) after PoW phase?
this is what i was wondering too. i assume its still PoW from miners, but with no one mining (or very few) it would be very easy to 51%. someone please correct if I'm wrong |
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Done, comon guys keep voting and lets spread our love to mint to everyone This is looking like a coin that will really take off! One exchange i would like us to try and work with, as it is a exchange for the future is: Mcxnow. If we were to get on there we would be golden. 2nd, I'd like to see more services for mint, games, shops, whatever you have, accept Mint on it . I'm willing to give out a couple of 100K's for any progress on this front, And dev, if you need any help with promoting, making sure things happen etc, dont hesitate to contact me, I love the idea of this coin. Cheers! I agree with you Hampuz, and i follow your intentions. I want to see accepted MINT on some places, we need some places where people can also spend mint, not only look for investors interest in POS, we need shop accepting mint for those that wish buy something with mint, we need games and or casino games for gamblers, i suggest we all giveaway some of OUR mint to some developers interest of create something nice for mint. I have aprox 11mio of mint, i will give away 1'000'000 MINT Total split to the first 4 nice projects/sites loved from community, it can be games, shop, or what ever is usefull and can be something good for mint's Future. If i had the ability to do something i would already have done... but what i can do is give some good incentive, and i think also someone other of you can do same  Lets get attentions to MINT!!! (sorry for my bad english, its not my language + im very tired right now!) P.S. THX THO THE ONE THAT DONATED ME 1000MINT LAST NIGHT This seems like something the dev should be doing with the 700 million premine? |
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I bought a ton of mintcoin, even bought at 10 satoshi like an idiot before the first exchange popped up!
Really think this coin is going places.
Can people elaborate on the dust & PoS issue?
If I leave the wallet open, it'll basically do lots of small PoS which causes dust?
How does the PoS work exactly? I assume you only have a *chance* of minting a block with some mintcoin that's got coinage of 20 days? Is it done by amount of mintcoin in the same wallet with that coinage?
Or is it like even more basic and PoW still secures the network but you just gain interest on balances that have sat still for 20 days?
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No offence but I was spamming refresh on page 1, post #1. There is 0 chance I downloaded from any link but the first post.
Anyway I can't be bothered to deal with it now, I'm tired and it's late. I'll try and fix my PC tomorrow
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Can any windows user check if in the process list there is a microsoft.exe started or some strange caracters .exe ? I think this was a virus
Yeah my PC has been bugging out since running this ... It's affected my USB devices (external HDD, mouse etc). Anyone else had a similar problem? I've lost my external hard drives completely and one had all crypto blockchains on.. Where did you download the wallet from? The megaupload link or the other link some other guy posted?? The mega upload one in the ann post |
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Can any windows user check if in the process list there is a microsoft.exe started or some strange caracters .exe ? I think this was a virus
Yeah my PC has been bugging out since running this ... It's affected my USB devices (external HDD, mouse etc). Anyone else had a similar problem? I've lost my external hard drives completely and one had all crypto blockchains on.. |
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Well, block 21 also had 1,000 reward?
{
"blocks" : 21,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 1.90680555,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 134277,
"pooledtx" : 0,
"testnet" : false
}
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Well gg to whoever got the blocks. I managed to sync at block 10, threw my 1.3mh/s at it and didn't find one |
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Let me break down something for the shareholders (and the reason why I didn't invest). It cost fasbit $1500 per 1 Mh/s. 10,000,000 shares at 0.000001 means he raised 10 BTC. Let's say he already has the mining equipment ready, and that BTC was ~750 when he bought them (it's not now but w/e). That means each 1 Mh/s cost 2 BTC = he has a total of 5 Mh/s to go to shareholders. If you use something like leaserig.net (better return than multipool) then you can get maybe 0.018 BTC / MH/s / Day. Times 5 = 0.09 BTC per day. Now assume he keeps his end of the deal and pays out 90% then = 0.081 BTC / Day as dividends Now divide that by 10,000,000 shares = 0.0000000081 BTC / Share / Day (less than 1 satoshi). In order to get your money back per share, it will take: 123.46 days. That's actually not as bad as I thought lol. Plus you can always sell the share |
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Bought some mintcoin off him, sent first.
He had trouble syncing wallet but was going to send back BTC if he couldn't get it to work. Managed to get it work and sent me mintcoins as expected.
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The purpose of raising the funds is to purchase more mining and cooling hardware. Each 1mh/s mining rig, properly contained and properly cooled costs nearly $1500 USD This seems high for 1mh/s... How do you come to this figure? |
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Another trade worth way more went really smooth, thanks |
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Making a thread for people to leave feedback in!
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Fast trade for mintcoin, thanks Would trade again (and probably will!) |
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Buying at 10 satoshi each. Please message me |
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Thanks, completed a 0.1 BTC trade with no issues, would trade again!
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Buying at 10 satoshi each.
Got ~2.2 BTC, msg me.
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