Announcing that seems silly. If it happens we will see it

When BTC sneezes, altcoins drop dead ...

Logical, how many out there know altcoins? 1 per million in comparison to the onces that heard about BTC?

Pump announced

https://twitter.com/MineCrypto/status/448925329521123328

Not interested in giving some accelerated crypto courses? I really need to learn some basics n stuff

When markets were controlled by a relative few who had almost all the hard currency -- e.g. in the 1890s -- large-scale capital investment was impossible for up-and-comers. Thus Ma Bell, Standard Oil et al. couldn't be challenged by people with better ideas. The end result was a loss of efficiency in the system as a whole, until the government broke them up.

The loaf-of-bread issue is that economic output is not linear. Really, over time you get more and more output; more grain can be grown from one acre of land. Chicken costs 1/6th what it did at the start of the 20th century in real terms. Things get cheaper as we (as an industrial society) get better at producing them. And so it would make no sense if one chicken were permanently worth 0.1 oz of gold. You need to not just subdivide the gold further -- you need to create more gold, or more paper, or else people will not continue to make a growing number of chickens.

[ed] the above being the best explanation I can come up with after 6 beers, for how printing more paper or creating interest in a virtual currency is not necessarily inflation, but may just be keeping up with the rate of economic growth.

Please explain carry trade arbitrage.

My thinking on this was sort of loose. But anyone mining other alts and buying BC with it, is effectively borrowing BC to turn around and invest temporarily in things that may have a higher rate of return (assuming their prices are stable enough). We aren't at a point yet where I loan you BC and you go put it in MintCoin and take the difference in interest...at this point BC is still a raider. But if it's becoming the home base for those kinds of excursions, it's kind of like the Yen.

Thank you.

The thing is, that doesn't really solve the problem. It solves the problem of how to denominate it, but it doesn't solve the problem of hoarding. Because as long as you're reducing to smaller decimal places to buy a loaf of bread, for instance, the value of your Bitcoin is worth more and more loaves of bread. As long as value increases per unit of Bitcoin, you have deflation and no one will actually spend the currency. When no one spends it, the economy collapses because merchants like me can't stay in business.

As a little side note, I learned something really interesting about economics by opening the first Bitcoin casino... I learned that people gamble when the currency loses value (or in other words, inflates). It may seem obvious, but it wasn't obvious to me at the beginning. I used to be terrified that Bitcoin would go down because our holdings would lose value. But I realized pretty soon that that's exactly when people gamble their coins.


I completely agree with this, and I think that's why BlackCoin is a solid bet to be a complementary store of value to BTC/LTC. I do wish that the interest rate could be tweaked, but to this point no one has set up a coin that tweaks interest rates based on market dynamics (although BC bonds could certainly be issued down the road that would fill that gap). So given where we are now, I think the distribution and the fixed interest rate are as close-to-right as you can ask for.

I don't think you should say '1% fixed inflation' though, because 'inflation' is a measure of the currency's loss in buying power not a measure of how much money supply there is alone. BTC will become deflationary long before it's done being mined... as it is right now, BC is deflationary because it's rising in value faster than it pays interest; therefore most people won't loan it or spend it.

I promise I'll get to Mintcoin vs. Blackcoin but a preface here:

A lot of people in the crypto/libertarian community likes to talk shit about central banks and how we need to revert to some kind of gold standard. What's often not discussed are the finer details: For instance, the world's central banks have presided over the money supply through the most radical expansion of wealth, higher living standards, longer lifespans and the most radical decrease of infant mortality in human history, through the course of the 19th century. They've also presided over the largest and deadliest wars in human history (although not necessarily as bad as they could have been given the technology, and for all their brutality, not necessarily more brutal than wars that had gone before).

Well. What this means is that no one with a knowledge of history can discount out of hand the idea that all economies are a non-zero-sum game in which the money supply needs to grow and contract to provide the necessary incentives to save or stimulus to invest. And so anything with a flat rate of interest or inflation is naturally a bit suspect, because human affairs just don't work that way. Shouldn't BC generate more money supply if more business is being done in the currency and people want to borrow it? Shouldn't MintCoin give less interest if it's apparent that its inflation is running out of control?

What we think we know is that Bitcoin itself is too prone to hoarding and too deflationary in nature. Therefore a proof-of-stake seems like a sensible idea, or at least a valuable experiment. The question for me about MintCoin is why that stake should be higher in the beginning. MintCoin's strategy for lowering stake by the year seems arbitrary and may become counterproductive at any point where the currency really begins to take off. It's an incentive to hoarding, at least for the first 5 years. And it's not an incentive to financing after that.

Is BlackCoin striking the right balance because it will always keep a 1% rate? Probably not exactly. However it's a lot closer to being a long-run fair bet than something that's going to arbitrarily dictate reduced interest rates annually with no regard for how many people adopt it or how they use it.

[ed] and it's worth mentioning that multi-pool mining for other coins is basically a kind of carry trade arbitrage that's already being carried out in BC.

So as you say, 'its rate people do anything for free'...if the MINT crew paid me a bounty to add their coin, why would you consider such a payment a bribe, vs. paying for the work required to make it happen?  Its not like I had this feature ready to go and said 'pay me X coins to get yourself listed'. 

I thought of BC as I was building this feature, I was in at launch,  I've been idling in the irc channel since launch, have made some profits on personal trades with it.  Quickly losing interest in it though with such silliness.  oh well.

As the owner of hashcows, mint came and asked.  I was thinking blackcoin might also be a fit, once any kinks were worked out with the process, but didn't realize it was such a one or the other decision from the blackcoin community.  

Plus, even bitcoin could move further than 8 decimal; the protocol allows it.

I France, in the 70's, we decided to divide any franc (our currency by then) by 100. 100 old france were worth 1 new franc. So it happens even in real life (New franc)

I believe this is more a matter of distribution. More coins means more potential for widespread adoption. I mean, if there are 100 000 people on the altcoin scene, that's the maximum. Compare with 7 billions (soon 9) inhabitant on this planet.

Because I asked Notice I could ask for BC too... I think MINT and BC should not fight at each other - I know several persons who are supporters of both MINT and BC. Still, I wonder how both currencies could walk hand in hand without being counter-productive. I welcome any suggestion (the "we don't destroy the environment' part could help, but won't suffice, I think).
And, no we did not bribe them. But you are free to disbelieve me.

(I don't remember someone at MINT ever accusing BC of bribing someone. How elegant from BC to accuse of felony)

Why did Hash choose MINT really

If BC has volume then cryptsy wants that, they'll list it no doubt if its regular fee income for them.  They are a business after all and a coin can bring new customers in for them

;] ......... You're right, of course, silly me, strike that ... me and my warped logic and too-soon-to-the-keyboard-fingers always catching me out ... apologies for any distress caused

love the market analysis.

new bottom has been tested twice again, eiter we stabalize then go down for a while (unlikely due to the increase in volume), or we have created enough support for our next leg up.

so slow drop to 4500 range until we get more support, or quick jump to 12-15k

50k in this jump is unlikely due to the dampening effect of cost/BC, but if we see 1000BTC+ trade volume for the next week not impossible.