[ANN][$MUSIC] Musicoin Blockchain Upgrades to V3.0(“Quantitative Tightening 🎸

[unimatrix27]

which pool was you using to get 660 coins a day with 200 hash?

I am running a PROP pool so this is good for miners with low hashrate. If you wanna try: http://www.pmpod.de/#/

Pool is in europe with fast connection and online 24/7. 0% fee for now.

[1714244907]

1714244907

[1714244907]

1714244907

[Valt]

Can someone explain what will happen with the upcoming update ?

You will get less coins for your mining efforts but maybe the price will go up so it will still be worthwhile to mine. Or maybe the price will stabilize so it will still be worth mining. Or maybe there will still be too many mining and it won't be profitable for anyone.

[nltn]

#TROLL #MCI #Musiconomi #MUSIC


Q. Will Musiconomi run on the Musicoin blockchain?
A. (Danp) Short answer-No! As of now, we’ll be using the Ethereum blockchain.
Long answer- This is something that we have discussed heavily within the team. Initially the MCI team met each other (To know how they met check out this blog post) trying to build Musicoin blockchain. Our initial plan was to leverage the Musicoin blockchain and to build a musiconomi platform on top of that.
After the formation of Musiconomi, we had a lot of discussion with the community and our advisors. And in turn, we started to realise there are better reasons to use a single blockchain (like ethereum for example) instead of using two different blockchains as it can lead to a lot of confusion among the users of the musiconomi platform. Also having to deal with two different chains behind the scene would add more complexity in terms of development (causing the project to be delayed further). Using ethereum blockchain means that we can leverage all of the ecosystem that has been building up so far which would benefit us in reducing our time to hit the market.
Therefore, looking at it from all of the above point of view it becomes clear to us to use a single blockchain. So far, we are going ahead with Ethereum. But this is not set in stone. Ultimately we’ll use whatever is best for the musiconomi project in terms of its investors, listeners and artists.
https://medium.com/musiconomi/summary-of-2nd-live-ama-by-musiconomi-on-23rd-aug-2017-ffa85b1a3cc4
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Why can’t I buy MCI tokens with $MUSIC?
Musiconomi will run on the Ethereum blockchain, the crowdsale will happen on the Ethereum blockchain and Musicoin ($MUSIC) will not be accepted as payment for tokens. The market cap of the Musicoin blockchain is not yet high enough to support a crowdsale. We considered accepting both $MUSIC and ETH, however running a crowdsale across multiple digital currencies is problematic, especially if the price fluctuates during the crowdsale.
https://medium.com/musiconomi/musiconomi-crowdsale-faq-538c6919a781

Thank you - this is useful information. Too bad that it sounds like the $MUSIC token is somewhat being left behind. I am not sure if that's the conclusion I should be getting to. All the new hype is after ERC20 tokens on ETH and ICOs...

[Valt]

#TROLL #MCI #Musiconomi #MUSIC


Q. Will Musiconomi run on the Musicoin blockchain?
A. (Danp) Short answer-No! As of now, we’ll be using the Ethereum blockchain.
Long answer- This is something that we have discussed heavily within the team. Initially the MCI team met each other (To know how they met check out this blog post) trying to build Musicoin blockchain. Our initial plan was to leverage the Musicoin blockchain and to build a musiconomi platform on top of that.
After the formation of Musiconomi, we had a lot of discussion with the community and our advisors. And in turn, we started to realise there are better reasons to use a single blockchain (like ethereum for example) instead of using two different blockchains as it can lead to a lot of confusion among the users of the musiconomi platform. Also having to deal with two different chains behind the scene would add more complexity in terms of development (causing the project to be delayed further). Using ethereum blockchain means that we can leverage all of the ecosystem that has been building up so far which would benefit us in reducing our time to hit the market.
Therefore, looking at it from all of the above point of view it becomes clear to us to use a single blockchain. So far, we are going ahead with Ethereum. But this is not set in stone. Ultimately we’ll use whatever is best for the musiconomi project in terms of its investors, listeners and artists.
https://medium.com/musiconomi/summary-of-2nd-live-ama-by-musiconomi-on-23rd-aug-2017-ffa85b1a3cc4
------
Why can’t I buy MCI tokens with $MUSIC?
Musiconomi will run on the Ethereum blockchain, the crowdsale will happen on the Ethereum blockchain and Musicoin ($MUSIC) will not be accepted as payment for tokens. The market cap of the Musicoin blockchain is not yet high enough to support a crowdsale. We considered accepting both $MUSIC and ETH, however running a crowdsale across multiple digital currencies is problematic, especially if the price fluctuates during the crowdsale.
https://medium.com/musiconomi/musiconomi-crowdsale-faq-538c6919a781

Thank you - this is useful information. Too bad that it sounds like the $MUSIC token is somewhat being left behind. I am not sure if that's the conclusion I should be getting to. All the new hype is after ERC20 tokens on ETH and ICOs...

The Musicoin blockchain is the built from the same code as Ethereum.

Should every token in the world be run on the Ethereum foundations blockchain and not Musicoin or Ubiq or Ethereum Classic or Expanse or Soilcoin or some other non Ethereum based blockchain?

[616westwarmoth]

I'd be wary of a music based service that doesn't want to use Musicoin.  If they're skeptical of it's rate of adoption and how that might create performance issues, fine.  But to the casual observer, the only real reason to avoid Musicoin for them would be because they're in it for the money more than anything else.

[tf2addict]

Can someone explain what will happen with the upcoming update ?

You will get less coins for your mining efforts but maybe the price will go up so it will still be worthwhile to mine. Or maybe the price will stabilize so it will still be worth mining. Or maybe there will still be too many mining and it won't be profitable for anyone.

This will be interesting to see how it shakes out.  There is no hard information yet on how much percentage of each reward miner's are going to lose.  Mining profitability of MUSIC is way down in the last two days, this won't help.  Something will have to give.

[tf2addict]

Excuse my ignorance, but cannot I not mine this to an ether wallet? I've been mining and the transaction says it went through, but I don't have any coins in myetherwallet.com. Do I have to manually add MUSIC as a token?

you can mine it on ethereum wallet, you just need to use musicoin wallet so your tokens

your tokens are safe

but better create new address using music blockchain

NO you can't send $MUSIC to an Ethereum wallet. $MUSIC is NOT and ERC20 token. Musicoin has its own blockchain.

You need to install the Muscoin wallet and mine to that. If you're lazy then you can simply mine to a Bittrex Musicoin wallet.

I'm using Bittrex, just way more convenient for the small amounts I'm dealing with.

Anyone know if Ledger Nano S can handle MUSIC?  I may HODL some long-term.

[unimatrix27]

You will get less coins for your mining efforts

What update is it being talked about??

[tf2addict]

You will get less coins for your mining efforts

What update is it being talked about??

Implementation of the Q3 2017 roadmap where MUSIC gives a guaranteed basic income to musician's by giving them a portion of miners' rewards.

https://medium.com/@musicoin/roadmap-of-musicoin-blockchain-4a65620fefce

[6rq4JioxUqqTmjk8nFEa]

"The final allocation scheme will be like this."

https://user-images.githubusercontent.com/81030/29758312-0eb1e24e-8be5-11e7-8397-403df75745b5.png

[Vaim]

I mined and held under the assumption that the musiconomi project was also based on musicoin.

Now it will instead be based on ethereum


So what exactly will this coin be used for if the "alliance" is using other currencies instead?

[6rq4JioxUqqTmjk8nFEa]

I mined and held under the assumption that the musiconomi project was also based on musicoin.

Now it will instead be based on ethereum


So what exactly will this coin be used for if the "alliance" is using other currencies instead?

I don't believe they are apart of the "alliance". Its a totally separate project. They have their own thread at https://bitcointalk.org/index.php?topic=2012760.msg20053298#msg20053298

[freinando]

Just bought the dip..........

[Valt]

"The final allocation scheme will be like this."

https://user-images.githubusercontent.com/81030/29758312-0eb1e24e-8be5-11e7-8397-403df75745b5.png

 

[tf2addict]

"The final allocation scheme will be like this."

https://user-images.githubusercontent.com/81030/29758312-0eb1e24e-8be5-11e7-8397-403df75745b5.png

 

Thanks for that.  Not too bad.  I think this coin has a lot of potential over the next two years, way better than most.

[tf2addict]

Difficulty is down but block time has gone from 14 to 23 seconds.

[Valt]

I mined and held under the assumption that the musiconomi project was also based on musicoin.

Now it will instead be based on ethereum


So what exactly will this coin be used for if the "alliance" is using other currencies instead?

Yep I was under that impression for months.

 Musiconomi still name drop Musicoin in their ICO promo material and still use the Musicion logo all over the place but they have nothing to do with Musicoin any more.

[tf2addict]

Musiconomi is built on top of the Musicoin block chain.

https://www.reddit.com/r/Musiconomi/comments/6p8znn/understanding_musicoin_vs_musiconomi/

The big question tomorrow and the next few days is what will the Musiconomi crowdsale do to the price of Musicoin?

[peteycamey]

Musiconomi is built on top of the Musicoin block chain.

https://www.reddit.com/r/Musiconomi/comments/6p8znn/understanding_musicoin_vs_musiconomi/

The big question tomorrow and the next few days is what will the Musiconomi crowdsale do to the price of Musicoin?

it shouldnt effect one another. they are unrelated.

[Kenway]

The coin has taken off, and for two days I have dug about 660 COINS a day on about 660 COINS, 200 COINS a day, down to 300 COINS a day.It will only climb in the next few months, with attention and separation coming.