1682
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *19 Exchanges
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on: March 15, 2014, 12:45:19 AM
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I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.
Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.
Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.
What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.
And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.
So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.
Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution. That's all just assumption and hand waving. I'm dealing with the cold hard facts here. Rather than counter my points you want to focus on hand waving and silly assumptions that can be manipulated to either of our benefit. But entertaining you for a second if you consult mintcoinrichlist.com and the blackcoin richlist: http://agran.net/bc_getbalance.php?top=100As of five minutes ago the top 29 mintcoin addresses hold 30% of all mintcoins. And calculating for blackcoin we see the top 28 blackcoin addresses hold 30% of all blackcoins.That is remarkably similar. Regardless, the distribution in both of them will only grow over time. I have no concern about such matters and don't want to get dragged into a pointless discussion about it since the facts can be twisted too easily.
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1684
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *19 Exchanges
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on: March 15, 2014, 12:05:16 AM
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I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.
Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.
Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.
What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.
And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.
So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.
Thanks for posting this. It shows how desperate you are at pumping Blackcoin. Your efforts are futile and even work against you. People will read your post and avoid Blackcoin like the plague. I will definitely not support Blackcoin any longer because of your post. In fact, your post has convinced me to dump all of my Blackcoins and I will be picking up some more Mintcoins for cheap. Watch for the price of Blackcoin to drop on Mintpal as I dump them, I do have quite a few. Here's to a small push up in price of Mintcoin on Mintpal. I "pump" Blackcoin no more than anyone in this topic "pumps" Mintcoin. In otherwords, I support Blackcoin. Are you not concerned that the Mintcoin dev refused to list how he spent the hundreds of BTC he made from the premine on bounties and Mintcoin development? Why do you think that is? Blackcoin on the other hand has no premine yet has accomplished more innovative development and more buzz (bcmultipool). And any bounties are clearly and transparently listed and awarded out publicly. I lost all faith in this coin when the greedy Mintcoin dev asked for 5 million MINT donation from the community to work on a Mint <-> USD exchange, after he's already received 700 million MINT premine. I only post this here because I was a big Mintcoin supporter. You should thank me because it might kick the developer into action.
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1685
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *19 Exchanges
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on: March 14, 2014, 11:33:40 PM
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Same is with BC traded BC don't generate income. So inflation will be <1% BC and Mint <20%. I think rates will be same. But mint coins purpose is to mint it... and get that 20% so probably it will be 15%-18%. we will see at end of year. 2nd question i have analyzed that case lets give numbers: in best case max inflation ^^ 1% BC - Now this is about 0,04 New/BTC day to buy all new 20% Mint - Now this is only 2.3 BTC day to buy all new ~10% Doge 540 BTC Day 10% BTC 3600 BTC Day - 2.3m $ all new 20% LTC 28800 LTC Day - 0,9M $ all new "How fast do PoW coins inflate due to mining? I would say it is roughly equivalent to a PoS coin. " -look up ^^ As you see some coins need to be popular to not drop price BC,Mint don't need much attention to keep price. Pow coins due to other type of distribution can lose value very fast just because when miners aren't well paid price fall. POS system is bit different than POW dystrybution 1st POS NXT wasn't good example just because 75% of coins never reached market. In reality with BC with 0 premine we will see how can 100% POS system can behave on market. This coin is 1st with 0 premine it will be better example than Premined / IPO other ones. We will see how market will be different that Mint,Zeit,Ultra,Battlecoin,CGB... with some amount premined before. How marketing factor from IPO/Premine money have influence on price ^^ in long short therm. Anyway as you see to from my analyze BC or Mint with some BTC or $ injected inside can grow in same time POW needs High amounts of money to keep price. I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price. Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool. Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high. What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance. And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons. So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.
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1688
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine
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on: March 14, 2014, 10:29:04 PM
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Sorry guys, but i don't understand the "inverse multipool" concept. I read the FAQ on the bcmultipool, but i don't understand why 0.006 on a multipool in BTC could worth x2, x3, x4 when changed to BC. Can someone explain me please ?
Mining in multipool may help boost the price cause it provides moderate buying power everyday. + Marketing effect. Being the first at anything always brings lots of buzz and spreads the word. I bet tons of people are learning about Blackcoin and downloading the wallet just because they heard about bcmultipool and seeing everyone get excited.
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1693
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine
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on: March 14, 2014, 07:06:22 PM
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Lol at thinking merchant support has anything to do with an alt currencies value in the first year. Rofl. I question the intelligence of someone who thinks Peercoin's 68 million dollar market cap is being "held up" by merchant support. Here is a clue, 99% of a crypto's value derives from speculators. Hence why Peercoin, NXT coin, Namecoin have high values. You seriously think namecoin is being bought and sold for goods much? Lmao. Now, looking at Blackcoin's market capitalisation we see it's valued at a mere $900,000 (source - http://coinmarketcap.com/). And remember we have no new coins mined from proof of work for blackcoin anymore, only the coins produced from the tiny 1% proof of stake interest. The nearest similar coin to Blackcoin is Mintcoin valued at $2.2 million. Since Blackcoin is basically a better version of Mintcoin (no premine, transparent community bounties, active development, new ideas eg Blackcoin multipool, good momentum) it's very reasonable to see us more than doubling in price. But that really is small fry. We should be pushing for 10 million dollar market cap and with the boost from the multipool and the lack of miners dumping their coins I see no reason why not, which would be a 11 times increase in price. And if we go into dream territory, if this coin becomes the "fair mains NXT", then we could be looking at a 40 times increase in price from now. At the very least we can expect another double up in price.
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine
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on: March 11, 2014, 09:57:48 PM
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The best way to look at potential growth isn't price it's the market capitalization (coinmarketcap.com)
Blackcoin is basically Mintcoin but without the 1% premine and with a much more sensible rate of interest (1% rather than 20%).
I can therefore easily see us reaching 5,000 BTC market cap. But if this coin really captures the public imagination as a pure proof of stake coin which was fairly distributed by proof of work, this could really become a "fair mans" NXT coin. And looking at NXT we see NXT at 70,000BTC + market cap.
Really the sky is the limit, since the proof of work mining is finished now we don't have to worry about miners mass dumping all their coins. All that can stop us is the willpower of the biggest blackcoin holders. I therefore suggest we have a gentlemen's agreement not to sell until we're at least 5 times higher than the current price.
I look forward to what the next 48 hours brings.
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine
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on: March 11, 2014, 02:37:45 PM
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Reminder that the twitter whales bought in at 500 satoshi and can dump on you whenever they want
No they didn't, the price flatlined at 500 but with such low volume, a 1 BTC order pushed it over 600 sat The price was at ~500 for 3 days with 30+ 24/h BTC volume They aren't going to pump a coin that they didn't already buy in at the low The daily 24 hour volume was actually 11 BTC when it was at 500. I'm positive it was higher than 11 BTC and it has been in 500-650 for more than three days which would be atleast $24 000 It was at 11 BTC a few hours before it started getting pumped. Please peddle your crackpot theories elsewhere. We get it, you sold your blackcoins and now you want the price to fall.
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