[ANN] Mincoin Cryptocurrency Project, World's Fastest Rare Altcoin [ANN]

[Shad3dOne]

I thought 'premine' meant 'mined before release to public'?  Does 'early adopter rewards' count as premine nowadays?

[Anon136]

I thought 'premine' meant 'mined before release to public'?  Does 'early adopter rewards' count as premine nowadays?

I mean i could be ok with them releasing 4 coins per block for a few days or maybe even 6 coins per block for a few days. People deserve to be compensated for their effort but 500 coins per block..........

in my opinion thats not technically a premine but close enough to be bad for the exact same reasons premining is bad.

[Shad3dOne]

ah.
ok.

[lightenup]

I thought 'premine' meant 'mined before release to public'?  Does 'early adopter rewards' count as premine nowadays?

I mean i could be ok with them releasing 4 coins per block for a few days or maybe even 6 coins per block for a few days. People deserve to be compensated for their effort but 500 coins per block..........

in my opinion thats not technically a premine but close enough to be bad for the exact same reasons premining is bad.

Agreed. It should have been at least a few months higher rewards and then go down. would have helped to promote the coin as well.. but 10% of all coins that will ever exist in 3 days... what's the rationale behind this decision?

[master-P]

Pretty much the same thing as a premine.

[sido]

Pretty much the same thing as a premine.

not at all, even if it sounds like that

on second side MNC transactions are really fast and that is amazing benefit

[alwind]

the 500 block reward is going to kill the coin.

[sido]

the 500 block reward is going to kill the coin.

if there will be strong oposition for that, early adopters will find the way how to destroy it.. i believe

[Anon136]

Pretty much the same thing as a premine.

not at all, even if it sounds like that

on second side MNC transactions are really fast and that is amazing benefit

the general consensus is that it is shitty no matter what word you use to describe it. Also you could make a coin that had just as fast confirmations that didnt start out with 500 coins per block....

we need to take this bit out of the code and start a new genesis block cuz i really want to see how a coin with 1 minute blocks does. I want to see how bad the demergence is and whether the first confirmation will generally tend to be located on the legitimate longest chain or does the first confirmation tend to get ophaned more often than not. ect... i really wanna test all this stuff but on a fair platform not this bs

[CaptChadd]

Pretty much the same thing as a premine.

not at all, even if it sounds like that

on second side MNC transactions are really fast and that is amazing benefit

the general consensus is that it is shitty no matter what word you use to describe it. Also you could make a coin that had just as fast confirmations that didnt start out with 500 coins per block....

we need to take this bit out of the code and start a new genesis block cuz i really want to see how a coin with 1 minute blocks does. I want to see how bad the demergence is and whether the first confirmation will generally tend to be located on the legitimate longest chain or does the first confirmation tend to get ophaned more often than not. ect... i really wanna test all this stuff but on a fair platform not this bs

I see what you mean but this coin is out now and is 1 minute blocks, so what can't you test it with this one?

[Anon136]

Pretty much the same thing as a premine.

not at all, even if it sounds like that

on second side MNC transactions are really fast and that is amazing benefit

the general consensus is that it is shitty no matter what word you use to describe it. Also you could make a coin that had just as fast confirmations that didnt start out with 500 coins per block....

we need to take this bit out of the code and start a new genesis block cuz i really want to see how a coin with 1 minute blocks does. I want to see how bad the demergence is and whether the first confirmation will generally tend to be located on the legitimate longest chain or does the first confirmation tend to get ophaned more often than not. ect... i really wanna test all this stuff but on a fair platform not this bs

I see what you mean but this coin is out now and is 1 minute blocks, so what can't you test it with this one?

i can and i probably will but this sort of thing requires longer term testing, which i would much prefer to happen on a non-pumpandump coin.

[CaptChadd]

I never understand this pump and dump thing.

I mine BTC and sell it.

Does that make BTC a pump and dump coin for me and hence BTC a bad thing?

[Anon136]

I never understand this pump and dump thing.

I mine BTC and sell it.

Does that make BTC a pump and dump coin for me and hence BTC a bad thing?

No because there is nothing dishonest about what you are doing.

a pump and dump involves quietly buying up an asset then building up the perceived value and selling it after you have convinced people that its more valuable than it is. So an example would be the national inflation association, you can buy up a stock then hire nia to pump out news letters which hopefully will convince its members to buy the stock thus raising the stocks value which you can then sell.

This is analogous to what the guys who produced mincoin are probably doing, though not exactly the same.

[Shad3dOne]

I never understand this pump and dump thing.

I mine BTC and sell it.

Does that make BTC a pump and dump coin for me and hence BTC a bad thing?

No because there is nothing dishonest about what you are doing.

a pump and dump involves quietly buying up an asset then building up the perceived value and selling it after you have convinced people that its more valuable than it is. So an example would be the national inflation association, you can buy up a stock then hire nia to pump out news letters which hopefully will convince its members to buy the stock thus raising the stocks value which you can then sell.

This is analogous to what the guys who produced mincoin are probably doing, though not exactly the same.

I'll be a sad MewTwo if this is true....and you don't want a sad MewTwo.

[SuperTramp]

I never understand this pump and dump thing.

I mine BTC and sell it.

Does that make BTC a pump and dump coin for me and hence BTC a bad thing?

No because there is nothing dishonest about what you are doing.

a pump and dump involves quietly buying up an asset then building up the perceived value and selling it after you have convinced people that its more valuable than it is. So an example would be the national inflation association, you can buy up a stock then hire nia to pump out news letters which hopefully will convince its members to buy the stock thus raising the stocks value which you can then sell.

This is analogous to what the guys who produced mincoin are probably doing, though not exactly the same.

LOL.

People make this entirely too complicated and over dramatized. If you don't like a crypto-currency DON'T buy it. If it is not profitable for you to mine it AND you don't
believe it has value going forward then DON'T mine it. It Really Is That Simple  

[antimattercrusader]

hopping on for the pump and dump, anyone want 50,000 mincoins?

Yes, please. lol

[manface]

This Mincoin has really bought out the people who weren't early enough to catch something. I mined 10000 Mincoins with some of those 500 blocks and I've bought a couple thousand as well. "boo hoo I was too late to get early adopter benefits" well now you know how people just now learning about Bitcoin feel.

Either deal with it or shut up in my opinion no one likes to hear the whining. Going over the commit changes to Mincoin there is more changed in it than the typical *altcoin released here that's why I bought some more. Also the fact only 10 million will be made is another reason. I have over 1% of all the Mincoins mined to this point! Feels great to be an early adopter for once. These other alt coins coming out with like 500 million coins look like much bigger "premine" scams than Mincoin. People talk about Mincoin being "premined" when it has less coins than Feathercoin which was released DAYS AFTER Mincoin. Use your brains people.

Also for those mining they are making hundreds per day. If the price of Mincoin goes to 0.02 BTC which I think it easily can then mining now and selling later will mean you make *A LOT* more than mining Litecoins or something else even though it's only 2MNC per block. Remember theres 60 blocks per hour no while 2MNC per block seems low the fact there are more blocks helps make up for it.

Because there are so few Mincoins going to be created the price should easily be able to go up higher than Litecoin, PPC and TRC in my opinion.

[Anon136]

This Mincoin has really bought out the people who weren't early enough to catch something. I mined 10000 Mincoins with some of those 500 blocks and I've bought a couple thousand as well. "boo hoo I was too late to get early adopter benefits" well now you know how people just now learning about Bitcoin feel.

Either deal with it or shut up in my opinion no one likes to hear the whining. Going over the commit changes to Mincoin there is more changed in it than the typical *altcoin released here that's why I bought some more. Also the fact only 10 million will be made is another reason. I have over 1% of all the Mincoins mined to this point! Feels great to be an early adopter for once. These other alt coins coming out with like 500 million coins look like much bigger "premine" scams than Mincoin. People talk about Mincoin being "premined" when it has less coins than Feathercoin which was released DAYS AFTER Mincoin. Use your brains people.

Also for those mining they are making hundreds per day. If the price of Mincoin goes to 0.02 BTC which I think it easily can then mining now and selling later will mean you make *A LOT* more than mining Litecoins or something else even though it's only 2MNC per block. Remember theres 60 blocks per hour no while 2MNC per block seems low the fact there are more blocks helps make up for it.

Because there are so few Mincoins going to be created the price should easily be able to go up higher than Litecoin, PPC and TRC in my opinion.

you and the 3 other early adopters have fun with your new currency. You can have your own little micro economy of 3 people.

[manface]

you and the 3 other early adopters have fun with your new currency. You can have your own little micro economy of 3 people.

All good things start small. At some stage Bitcoin only had 3 people, Litecoin only had 3 people, etc. Though going by the #mincoin channel on IRC and Private messages I'm getting about wanting to buy mincoins I think it's a lot more than 3.

[Anon136]

you and the 3 other early adopters have fun with your new currency. You can have your own little micro economy of 3 people.

All good things start small. At some stage Bitcoin only had 3 people, Litecoin only had 3 people, etc. Though going by the #mincoin channel on IRC and Private messages I'm getting about wanting to buy mincoins I think it's a lot more than 3.

bitcoin and litecoin weren't premines or pseudopremines