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

[manface]

Are the scrypt parameters the same as for litecoin? If not: what are they?

Yeah looks the same to me (the proof of work). You can see the changes made over litecoin on the github.

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[manface]

Wow there are a lot of new coins popping up! No gui yet?

There's a mincoin-qt client in the repository, but I have yet to try to actually compiling it. So yes, this thing does have a GUI, but the OP only provided a Windows binary of the command-line version.

Have you ended up compiling the QT version for Windows yet? I believe there is a 5000 MNC bounty for it on irc.

[DonChate]

LOL... goes to 2 MNC block reward after pre-mine. Moving on...

Did you know Bitcoin will go to 2 BTC eventually? And eventually even 0! Will people in those years call it a premine because they missed the boat?

It's a shame you missed out! I got 10000.

Didn't say I missed out  but don't see the point in mining it after the initial reward blocks. Going to hold off to see if an exchange takes it up.

[DeathAndTaxes]

LOL... goes to 2 MNC block reward after pre-mine. Moving on...

Did you know Bitcoin will go to 2 BTC eventually? And eventually even 0! Will people in those years call it a premine because they missed the boat?

It's a shame you missed out! I got 10000.

Are you really comparing almost 100 years of mining rewards to two days?

Also I don't think he has to worry.  10,000 * 0 is ...

[CaptChadd]

Its simple with this coin.

It was posted on here the same time it was released on IRC and the reason was so that everyone gets a fair chance to mine this coin early if you missed out on the early days of BTC and LTC. With this coin everything is accelerated, the block reward shrinking, the confirmation times and the amount of coins are all, quicker and smaller, hence the name Mincoin (Minimal).

If you didn't mine early then maybe buy some, if you don't want to buy some then why not just move on to something you do like or want, nobody is forcing anyone to mine or buy this coin or any coin for that matter.

[manface]

Its simple with this coin.

It was posted on here the same time it was released on IRC and the reason was so that everyone gets a fair chance to mine this coin early if you missed out on the early days of BTC and LTC. With this coin everything is accelerated, the block reward shrinking, the confirmation times and the amount of coins are all, quicker and smaller, hence the name Mincoin (Minimal).

If you didn't mine early then maybe buy some, if you don't want to buy some then why not just move on to something you do like or want, nobody is forcing anyone to mine or buy this coin or any coin for that matter.

Exactly. When we have a user in here (tacotime) saying he wants to "Pump n dump" not long after release, failing to get a simple daemon to work and then saying the coin is a scam in the space of 3 hours it shows how ridiculous some people here are.

There was no premine, if you missed the 24 hour boat to mine easy coins then it's your own fault, it was open from the start. It's still returning more to me than Litecoin mining right now even at 2MNC per minute block. We'll see what the future holds with an exchange, litecoin has shown us you can never know what coin will be worth something one day.

[manface]

Are you really comparing almost 100 years of mining rewards to two days?

You really think the amount of time makes such a difference? There will always be people that missed out, you're just arguing semantics in regards to length of time. The people who missed out will always argue there wasn't enough time.

Also I don't think he has to worry.  10,000 * 0 is ...

Exactly, so why do you care?

[tacotime]

Exactly. When we have a user in here (tacotime) saying he wants to "Pump n dump" not long after release, failing to get a simple daemon to work and then saying the coin is a scam in the space of 3 hours it shows how ridiculous some people here are.

There was no premine, if you missed the 24 hour boat to mine easy coins then it's your own fault, it was open from the start. It's still returning more to me than Litecoin mining right now even at 2MNC per minute block. We'll see what the future holds with an exchange, litecoin has shown us you can never know what coin will be worth something one day.

Daemon didn't work (ran, responded to queries, never downloaded blockchain after a half hour).  Couldn't tell you what's wrong with it, but the fact that you guys have a 5000 coin bounty for the windows GUI build speaks volumes as to the technical prowess of the devs involved.

Not to mention they decided not to address the difficulty coaster exploit in any way despite enhancing the difficulty adjustment time.

I pump and dump most of the useless coins, yeah, but this one is especially stupid.  Even if I mined yesterday I would have gotten barely any compared to the first 24 h.  And now you're at block reward 2 after being at 500 two days ago?

[rlh]

lol.  Well, got my 25k.  I'll probably hold on to it for a few years just to see it because the silver to the litecoin gold.

[ralree]

Wow - just found 2 blocks.  reward = 2.  Nobody is going to mine this ever again.  Consider this coin dead.

[smoothie]

Here are the fails of this chain:


1. Early adopter advantage on block rewards restricted to the first 3 days (yeah right lol)

2. cap at only 10 million so that way "supply" will force the price up due to "scarecity"

3.  

Good luck with this tard chain.

the early adopter advantage for only three days lol...bullshit haha

[CaptChadd]

At the moment, it is an easy 2 coins to mine.

[rlh]

Also, keep in mind that these coins are mined at 2/min, which is 120/hr.  There are still a lot of coins to be had.  We just need a pool.

[chriswen]

Also, keep in mind that these coins are mind at 2/min, which is 120/hr.  There are still a lot of coins to be had.  We just need a pool.

But before it was > 3000 an hour.

[rlh]

Also, keep in mind that these coins are mind at 2/min, which is 120/hr.  There are still a lot of coins to be had.  We just need a pool.

But before it was > 3000 an hour.

Yes, but 86k/Mo isn't that bad either.  Sure, the "early adopters" are sitting on a mountain but the 1-minute block is quite appealing @2 MNC per block.

[manface]

Wow - just found 2 blocks.  reward = 2.  Nobody is going to mine this ever again.  Consider this coin dead.

14MH is mining it at the moment. Higher than I'd think considering it's 20 coins per 10 minutes. there is no exchange yet? Someone knows something we don't? I'm finding it hard to win a block at these mining rates.

{
    "blocks" : 7339,
    "currentblocksize" : 1000,
    "currentblocktx" : 0,
    "difficulty" : 0.07947933,
    "errors" : "",
    "generate" : false,
    "genproclimit" : -1,
    "hashespersec" : 0,
    "networkhashps" : 14602104,
    "pooledtx" : 0,
    "testnet" : false
}

[manface]

Also, keep in mind that these coins are mined at 2/min, which is 120/hr.  There are still a lot of coins to be had.  We just need a pool.

True, it's 1 minute blocks here so the hourly reward isn't that far from Bitcoin. Is there going to be an exchange?

[shinkicker]

Another joke of a coin.

Let me tell some of you how these work. Its a simple as renaming Litecoin to Mincoin:

https://github.com/SandyCohen/mincoin/commit/ea3f1cf9fb92159e078d9d48f19ac0fc9dbf5015

Changing the starting difficulty:

Code:

-static CBigNum bnProofOfWorkLimit(~uint256(0) >> 20); // Litecoin: starting difficulty is 1 / 2^12
+static CBigNum bnProofOfWorkLimit(~uint256(0) >> 16); // mincoin: starting difficulty is 1 / 2^15

Adding a massive premine for the first three days:

Code:

 int64 static GetBlockValue(int nHeight, int64 nFees)
 {
-    int64 nSubsidy = 50 * COIN;
+  if(nHeight<1440) return 500*COIN;      //720000 coins in first day
+  else if(nHeight<2880) return 100*COIN;    //144000 coins in second day
+  else if(nHeight<4320) return 50*COIN;    //72000 coins in third day
+    int64 nSubsidy = 2 * COIN;          //2880 coins thereafter

Its as much of a joke as the other copy and paste coin BTE.

Here is my predicition, these coins are going to keep coming out each week. Don't waste your time on them.

[Mike Christ]

What we really need is a coin which mines blocks every second, and rewards miners with cents.  We could call it Alumicoin: the aluminum to Minconi's bronze to Litecoin's silver to Bitcoin's gold.

C'mon u guise we'll be rich!

[CaptChadd]

To be honest I don't think it matters what people say on here. 14 MH/s are mining this coin and MUST know something more about this coin and its future. This is a lot of mining power for a brand new coin and without a GUI client too.