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I'd rather take a stand against high school dropouts pumping out a dozen kids and demanding I pay for their EBTcards but that's just me!
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Maybe this sounds dumb, but I hope others feel this way too. I would rather lose the rest of my money and go down with the ship if this indeed is some sort of scam (I highly doubt it is) rather than selling at this point. Think about the consequences if you sold now and it skyrocketed. For me, they are much worse than losing the remaining 20% of its value.
Actually what chaps me is the ones being the most nasty about Maza are probably the whales who collude among each other on Twitter and know when exactly to sell and made off with lions share of the profit on the pump the other day. Who are the real scammers here exactly? |
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If everyone started buying on cryptorush ONLY on one particular day, might bring some new stability and price rise to this.
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Here is more, check his disqus, a choice quote from a month ago "Bitcoin, Mazacoin, and other Crypto currencies along with their supporting industries have a very real potential to bring economic change to a given area. but, if their only seen as quick $$$ "Fontas" Style Pump n Dumps then that begins to erode consumer confidence and is counterproductive to what we should be working towards with this industry as a whole...." http://disqus.com/payu_harris/There are other great quotes from him in there as well, the guy has been at work for months on this under the radar. |
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Not sure he does. He's not even a registered member of the Lakota.
Look it's not hard, I spent no more than 5 minutes googling and discovered he has a history of native activism going back years. A lot of his work was focused on bringing technology to the reservations. In December be sat down for an interview and initially talked of bringing Bitcoin to the Lakotas but obviously it's morphed into its own coin since then. Is it fibbing to call it the "official" currency for the tribe, probably, but the guy didn't just come out of nowhere to make this coin, and if he was out to enrich himself, well the boat on the first pump has sailed and the premine was never cashed out. How will he make his scam money now on a dead coin? |
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and if you think investing in anything based on one press release is anything but an insanely highly risk prone to fraud investment, then your an idiot.
No matter what, Payu still has more credibility so far than the Aurora creator and look how much damn money it made. |
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Which if anyone read any of the articles, Payu never claimed to be a member of the tribe and said he was Northern Cheyenne. |
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The problem around here is just way too many teenagers and dumb kids, you can spot one instantly when they declare, "What, a billion coins, it will never be worth a dollar!", clearly they have no grasp of how little money a billion is in a global economy.
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Whether they go up or down relative to USD is irrelevant, ups and downs relative to bitcoin are more useful since as long as your trading results in increasing numbers of bitcoins you are getting ahead and will be way ahead the next time USD crashes abysmally relative to bitcoin, which is quite a common occurrence. For example late last year USD crashed to something like 1/10th of its value or worse compared to bitcoin, and in the few years before that it crashed to what, 1/1000th of its relative value or worse?
Comparing to something like USD which is always in general tending downward and might even be in its death-throes seems silly compared to checking against something like bitcoin that keeps on tending upward despite the best efforts of various parties and opponents and such to drive it down.
-MarkM-
The dollar crashed to 1/10th its value?  Look I have no faith in QE and the future of the dollar as the reserve currency either but if it lost 1/10th of its value last year we'd be in the second Great Depression right now. |
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Its a strange phenomenom. We invest thousands into questionable coins and then ignore, downplay, or sabatoge the ones with merit.
B..b..but, Zedcoin is the OFFICIAL coin of zombies, it has value, I know because I'm 14yrz old and it made me money to buy a Playstation 4, so suck on that and screw your scam coin! /typical BTCtalk poster |
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I seem to recall everyone running around calling Bitcoin the "official" currency of the internet as if that has any more truth to it!
Or how about the Bitcoin Foundation, that den of crooks and con artists being the "official" spokespeople for Bitcoin.
It is so funny that for being a decentralized currency, the crypto community desperately searches for a higher power to bless it and become a central authority for it.
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Not once did i doubt their good intention.
What's happening right now is that a bunch of trader are playing around with its value, something that's unavoidable due to the global and open nature of crypto currency. The devs have no control upon the price since they haven't dump anything, and don't have the resources to pump it themselves.
Of course people are quick to dismiss this as a dead coin because nowadays if the price don't rise 10 times, there's no future for the coin according to them. Yep, all one has to do is see the premine hasn't been cashed out, if the coin is dead the chance to make any money is gone forever by this logic. |
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The Mazacoin founding press release stated that Mazacoin was "commissioned by the Oglala Lakota Nation" with the task of creating for them "the first ever Sovereign National Crypto-Currency." Now some people have claimed that Mazacoin was claimed to be an "official" currency of the Oglala Lakota Nation. But there is a clear difference between a currency being commissioned to be created, and it being officially adopted. The former would mean the Oglala Lakota Nation looked upon the currency with approval, the latter would mean the currency was legally adopted. But nowhere was it claim by the founder of Mazacoin that Mazacoin was a legally adopted currency of the Lakota. In fact there was a written document that was an agreement between Payu Harris and David Mills, of the Oglala Sioux Office of Economic Development. The agreement can be downloaded here: http://cryptominers.freeforums.org/the-memorandum-of-understanding-t10.htmlhttp://www.oglalalakotanation.org/oln/PROGRAMS_-_SERVICES.html Now even though mazacoin is not the official currency of the Lakota, this evidence shows the agreement between Harris and officials of the Lakota Nation that established mazacoin as a currency. This is not as amazing or news-breaking as "official currency of the Lakota Nation" but it's still a ground-breaking move in crypto-currency. Nice post, no matter what the hell you think, it is quasi-official because it's not like the Lakota are just going to turn around and create a new crypto to supplant the work Payu has been doing. This is the first and only chance the tribes have to do anything like this, there will be no 2nd shot so in that sense it is official. |
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Block reward: 5000 MZC halving every 241920 blocks (about 12 month) - not dropping below
1 MZC (inflationary minimum)
Total coin mined: 2.4192 billion MZC + yearly inflation
2.4192 billion coins will be mined in approx. first 5 years
Thereafter around 1 million per year (inflationary).
How can you expect 1$?
You do know $2.4 billion is chump change in international finance right? Forex does over 3 trillion a DAY in cash exchanges. The city of Dallas's GDP alone is over 400 billion. If in the long shot this coin did become an accepted currency of a dozen native tribes, those 2.4 billion coins could be eaten up several times over by major investors. This is why if you truly believe long-term that Bitcoin has a future as an international digital currency, you'd do best to be stocking up on that and holding strong, because current market cap at 8 billion is not near enough to handle the amount of money that changes hands everyday, it has to go up tremendously. Anyday now you could wake up and find a Carlos Slim figure or mega bank like JP Morgan suddenly bought up 50% of the Bitcoin reserves, that is how cheap it is right now in the eyes of serious money people. |
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As I see it until the whole situation about mtgox and satoshi are not determined the prices won't be stable and won't rise as well
I don't get this, "determined", people who were knee deep in Gox need to pull their head out of the sand and realize your coins are gone and are never coming back, move on, I know it is upsetting but it's not fair to drag the rest of the market down and everyone else's money too with endless speculations and worrying because they were foolish to use a known shady exchange as a crypto bank. |
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Protip, no Icelanders or Indians will utilize these coins on a massive level. Play the charts and have fun fellas!
Neither will they use Bitcoin. Might as well sell all your crypto now and trade magic cards. |
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It has now become crystal clear that the tribal chiefs to not endorse Mazacoin and that Payu went rogue and did this on his own. Wall Street Journal edited their article with this new information. http://blogs.wsj.com/moneybeat/2014/03/07/lakota-indian-promotes-new-digital-currency-mazacoin/CORRECTION: An earlier version of this post said mazacoin had been adopted as the Lakota currency. It has not been officially endorsed by the council. So one would ask why would mazacoin.org website list this false information? "MazaCoin is the Official National Currency of the Traditional Lakota Nation." since this clearly is not "official" in any way shape or form. Since we're all cynical now, let me be even more cynical. Does it really matter at this point? I keep seeing twitter retweets from people, mostly non-crypto people tweeting out the WSJ article. It has great international play and most people read headlines, not meat of the story. Also How many crypto users here are lazy and don't read more than 2 pages on a coin thread? Whatever the truth is, the myth has been created, you'd be surprised how little people research or read between the lines, and let's be honest what great business venture wasn't started with a little bit of bullshit on top (like Bill Gates and Steve Ballmer lying to IBM they had DOS ready to go when they actually had to scramble to buy someone else's source code for example). I think a lot of people have invested so much money in it already and whales have been playing so many games the last 36 hours, there is at the least another epic pump coming in so plenty of time to get out, and who knows the myth may endure and excel it to such heights the Lakota chiefs will have no choice but to go along with it once Payu Clause starts handing out fat stacks of paper wallets to their people. |
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Whether it's the real Satoshi or not, the big reveal as a humble senior citizen fatherly figure as the creator of a Bitcoin probably puts to ease a lot of accusations he is some underground hacker or ponzi schemer ready to take your money.
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This for real?
What some people crying scam don't get is there is no investment on the part of the Lakota people. The tribal leaders would be fools not to endorse the project, the premined coins were given to the community at no expense, no one is asking them to cough up money to pump the coin up, sure if may be volatile for awhile and not easily accessible by most members but it's not hurting to at least try either. I'm not native but I know I'd cast a vote for Payu just for the reason he is getting the tribe in national press and trying to jump start some major economic development. |
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More Brewer story from January  This makes more sense, nosy Feds are intimidating the tribes, ironic too since the FBI supposedly has plans to auction the coins off, although it's been quiet on that front too all of a sudden... |
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