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Author Topic: [ANN] Minereum - First Self Mining Smart Contract  (Read 434310 times)
luka27
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June 22, 2017, 02:45:04 AM
 #3641

Can someone please tell me, if this is self mining, how do we get these coins? I don't get it... Certainly it doesn't self mine and self sell on the exchange?! How'd people get these from the get go Huh
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After the Genesis phase ended, each Genesis address was attributed 32,000 coins and since there are only 4,268 addresses, the total number of coins (Minereum) were set to 136,576,000.
This number of coins are the maximum number of Minereum coins that will ever be created, however, since the self-mining contract only allows for each Genesis address to mine 0.00032 Minereum (MNE) per Ethereum block, the total supply will only be reached in 47 years.
Cointelegraph has learned from the Minereum team that, at the moment, the supply of Minereum is around 500,000. In an emailed communication, a Minereum representative commented about the inflation rate of the currency. “As a comparison example, Ethereum generates 5 ETH per block. Minereum in total generates 1.36576 MNE per block (0.00032 MNE * 4268 Genesis addresses), so Minereum has an inflation rate 72 percent lower than Ethereum.” The currency is currently trading on livecoin.net under the symbol MNE.

Stole from the article on the first page. You will get much more info if you check first page. Basically genesis address holders get 1.36 MNE per day and they can sell on exchange if they want.

One silly question, if all hell breaks loose with Ethereum, how much would that affect Minereum since it is based on Ethereum?
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georgehuang
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June 22, 2017, 02:52:02 AM
 #3642

update

Hi everyone,

We have now a bounty program for translations running at this thread:

https://bitcointalk.org/index.php?topic=1978706

Appreciate all of you who can help!

I had forward this to china board and hope some one can take the job
B1tc01n$
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June 22, 2017, 03:19:57 AM
 #3643

Can someone please tell me, if this is self mining, how do we get these coins? I don't get it... Certainly it doesn't self mine and self sell on the exchange?! How'd people get these from the get go Huh
Quote
After the Genesis phase ended, each Genesis address was attributed 32,000 coins and since there are only 4,268 addresses, the total number of coins (Minereum) were set to 136,576,000.
This number of coins are the maximum number of Minereum coins that will ever be created, however, since the self-mining contract only allows for each Genesis address to mine 0.00032 Minereum (MNE) per Ethereum block, the total supply will only be reached in 47 years.
Cointelegraph has learned from the Minereum team that, at the moment, the supply of Minereum is around 500,000. In an emailed communication, a Minereum representative commented about the inflation rate of the currency. “As a comparison example, Ethereum generates 5 ETH per block. Minereum in total generates 1.36576 MNE per block (0.00032 MNE * 4268 Genesis addresses), so Minereum has an inflation rate 72 percent lower than Ethereum.” The currency is currently trading on livecoin.net under the symbol MNE.

Stole from the article on the first page. You will get much more info if you check first page. Basically genesis address holders get 1.36 MNE per day and they can sell on exchange if they want.

One silly question, if all hell breaks loose with Ethereum, how much would that affect Minereum since it is based on Ethereum?
Right, I get that. But what I don't get is who owns these genesis addresses? If this coin isn't made fair for all to get into and only certain people maintain the majority of the coins, nobody will ever want in.
luka27
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June 22, 2017, 03:31:38 AM
 #3644

Can someone please tell me, if this is self mining, how do we get these coins? I don't get it... Certainly it doesn't self mine and self sell on the exchange?! How'd people get these from the get go Huh
Quote
After the Genesis phase ended, each Genesis address was attributed 32,000 coins and since there are only 4,268 addresses, the total number of coins (Minereum) were set to 136,576,000.
This number of coins are the maximum number of Minereum coins that will ever be created, however, since the self-mining contract only allows for each Genesis address to mine 0.00032 Minereum (MNE) per Ethereum block, the total supply will only be reached in 47 years.
Cointelegraph has learned from the Minereum team that, at the moment, the supply of Minereum is around 500,000. In an emailed communication, a Minereum representative commented about the inflation rate of the currency. “As a comparison example, Ethereum generates 5 ETH per block. Minereum in total generates 1.36576 MNE per block (0.00032 MNE * 4268 Genesis addresses), so Minereum has an inflation rate 72 percent lower than Ethereum.” The currency is currently trading on livecoin.net under the symbol MNE.

Stole from the article on the first page. You will get much more info if you check first page. Basically genesis address holders get 1.36 MNE per day and they can sell on exchange if they want.

One silly question, if all hell breaks loose with Ethereum, how much would that affect Minereum since it is based on Ethereum?
Right, I get that. But what I don't get is who owns these genesis addresses? If this coin isn't made fair for all to get into and only certain people maintain the majority of the coins, nobody will ever want in.
Lucky people that got into airdrop at the time. So basically not you and me Smiley 32.000 MNE that genesis addresses have are locked for 47 years anyway, they cant sell MNE, other then the daily generated ones. Your way of getting in is buying on exchanges.

This coin is more fair distributed than many much more established coins.

I really hope that we get some exchange news soon. Silence from the dev means either there is no progress or it will happen soon in my opinion and he will just surprise us.
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June 22, 2017, 03:34:58 AM
 #3645

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided
luka27
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June 22, 2017, 03:49:23 AM
 #3646

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided
Is that what is happening with all other coins that have different mining process? Price never rise with bitcoin, ethereuem, litecoin, etc. even though the supply is getting bigger and bigger?

Miners sell other coins too. Here just the process of mining is different from others.
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June 22, 2017, 06:04:23 AM
 #3647

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided
Lol, never heard about people own mining rig and masternode in others coin? they got free coin everyday but the those coin isnt dead yet, you know why? very simple, all of this is just about supply and demand
ubercool
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June 22, 2017, 06:08:54 AM
 #3648

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided

I dont think so. I agree that lots of people do that strategy and try to make some quick money but not everyone. Once people understand that a coin has the potential to survive in the future, they will never sell those coins completely.
To OP: Slow and steady progress, will be keeping an eye on this. Looking forward to social media campaigns, already followed the official handle and promoting.
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June 22, 2017, 08:20:31 AM
 #3649

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided

It is not stocking and holding which makes anything valuable. If everyone simply keep holding any token that will not gain any value because of being circulated in limited circle. It is actually spreading the more people own something the more it's value increase. Trading is also important aspect of all these things.
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June 22, 2017, 08:28:37 AM
 #3650

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided

It is not stocking and holding which makes anything valuable. If everyone simply keep holding any token that will not gain any value because of being circulated in limited circle. It is actually spreading the more people own something the more it's value increase. Trading is also important aspect of all these things.

Totally agree, MNE needs liquidity to gain value combined with higher priced selling blocks. Needs to take some investment to get in, not at bargain level. If MNE is indeed something that needs to be cherished for some time I guess this appeals also to a greater audience so having MNE available on the bigger exchanges will eventually proof it's value.

CryptoMeister
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June 22, 2017, 09:18:54 AM
 #3651

I think it will be very very good as well for MNE, if some people can help publishing articles or writing in their blog or steem.it about the token creation service. We need at least someone experience willing to develop a token from MNE. I think thats the way to go as well for further developments.

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June 22, 2017, 09:24:21 AM
 #3652

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided

You know about the mining process of this coin how much a address get through on daily basis. Not possible for address to sell all his coin immediately only available balance of which will be around 1.82 MNE. This coin has great potential nice to buy for brighter future.
memii
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June 22, 2017, 09:26:12 AM
 #3653

Lot of new people are becoming aware of this project and showing huge interest in marketplace where bounty thread is started. We are on the track and going steadily since the way is long to achieve big goals price in short term always will see many changes. if you do believe in this project stay here to support and don't check prices fifty times a day.
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June 22, 2017, 09:34:40 AM
 #3654

We should have more genesis supported bounty (twitter/signature camp) or faucets.

szafa
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June 22, 2017, 09:46:20 AM
 #3655

Livecoin wallet in maintance.
Kazkar
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June 22, 2017, 09:58:36 AM
 #3656

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided

You know about the mining process of this coin how much a address get through on daily basis. Not possible for address to sell all his coin immediately only available balance of which will be around 1.82 MNE. This coin has great potential nice to buy for brighter future.

I completely agree. People are also mined and other coins. Another way. But a few a day. DCR? ETH.ETC...  Smiley
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June 22, 2017, 10:34:06 AM
 #3657

We should have more genesis supported bounty (twitter/signature camp) or faucets.

Totally agree. Bigger presence will attract more demand IMO.

https://www.elixirtoken.io/ - A crowdfunding, payment ledger, and lending platform. Already working BETA! Super undervalued token!
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June 22, 2017, 11:16:50 AM
 #3658

We should have more genesis supported bounty (twitter/signature camp) or faucets.

Totally agree. Bigger presence will attract more demand IMO.
I also completely agree with this, whenever there will be one, Ill gladly help by contributing or donating for the cause, Tongue

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June 22, 2017, 11:54:26 AM
 #3659

So we can not invest in the long term on minerium because people will continue to sell and make the price run out in the end? Undecided

no ,that will be long project and i sure the price will hit 0.1 one day!
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June 22, 2017, 12:10:01 PM
 #3660

Here is a little contribution from a community member https://bitcointalk.org/index.php?topic=1979636.new#new. It is cost free by my side. Together little by little we will grow stronger and succeed.
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