[ANN] Minereum - First Self Mining Smart Contract

[Ghasty]

You make an interesting point, but don't forget that the Dev is planning to have a market to sell genesis addresses. So in essence, you could cash out any time before those 60 years.

To play devil's advocate: how much would an investor be willing to pay for the generic address, when the maturity date for the investment is sixity years? Even if your believe (as most of us do) that crypto currency is the way of the future, is ART going to be relevant for 60 years into the future? It's difficult to say yes with any certainty. Even now there are hundreds of other alt-coins flooding the market. Who would want to commit that long and buy the generic address at a high a price?

It's not important 1, 10 or 60 year. All investors are in the same conditions.
For example if we have 1 million tokens, 1 year and price 1$ after 1 month (total tokens 83k, market cap is 83k $),
then for 10 years period after 1 month we will have 10$ price (total tokens 8.3k, but market cap sure will be same 83k $ and price 10$ case in this case it's a rare token and low supply).
Just simple math.

Difference is only speed of price change cause inflation.

The real question in regards to supply is whether they decide to increase the algorithm difficulty as time goes on. It would be a much more ideal situation for the investors if you got ART mined at a decreased rate every month (such as bitcoin), that way you get more ART at the beginning when it is more valuable rather than the end when most people probably have moved on.  This also makes the coin more scarce (increasing the coins value) as time goes on. A major reason for Bitcoins rise in price was the increasing algorithm difficulty along with a relatively small (21 million) maximum cap on total circulation. If we get the same amount of ART every month we mine it, it's bad news bears for those who bought at the ICO.

[1713562718]

1713562718

[1713562718]

1713562718

[1713562718]

1713562718

[1713562718]

1713562718

[galaxiekyl]

You make an interesting point, but don't forget that the Dev is planning to have a market to sell genesis addresses. So in essence, you could cash out any time before those 60 years.

To play devil's advocate: how much would an investor be willing to pay for the generic address, when the maturity date for the investment is sixity years? Even if your believe (as most of us do) that crypto currency is the way of the future, is ART going to be relevant for 60 years into the future? It's difficult to say yes with any certainty. Even now there are hundreds of other alt-coins flooding the market. Who would want to commit that long and buy the generic address at a high a price?

It's not important 1, 10 or 60 year. All investors are in the same conditions.
For example if we have 1 million tokens, 1 year and price 1$ after 1 month (total tokens 83k, market cap is 83k $),
then for 10 years period after 1 month we will have 10$ price (total tokens 8.3k, but market cap sure will be same 83k $ and price 10$ case in this case it's a rare token and low supply).
Just simple math.

Difference is only speed of price change cause inflation.

The real question in regards to supply is whether they decide to increase the algorithm difficulty as time goes on. It would be a much more ideal situation for the investors if you got ART mined at a decreased rate every month (such as bitcoin), that way you get more ART at the beginning when it is more valuable rather than the end when most people probably have moved on.  This also makes the coin more scarce (increasing the coins value) as time goes on. A major reason for Bitcoins rise in price was the increasing algorithm difficulty along with a relatively small (21 million) maximum cap on total circulation. If we get the same amount of ART every month we mine it, it's bad news bears for those who bought at the ICO.

It seems this wil be an fonctionality of art..yu can check this in wp.

[Ghasty]

You make an interesting point, but don't forget that the Dev is planning to have a market to sell genesis addresses. So in essence, you could cash out any time before those 60 years.

To play devil's advocate: how much would an investor be willing to pay for the generic address, when the maturity date for the investment is sixity years? Even if your believe (as most of us do) that crypto currency is the way of the future, is ART going to be relevant for 60 years into the future? It's difficult to say yes with any certainty. Even now there are hundreds of other alt-coins flooding the market. Who would want to commit that long and buy the generic address at a high a price?

It's not important 1, 10 or 60 year. All investors are in the same conditions.
For example if we have 1 million tokens, 1 year and price 1$ after 1 month (total tokens 83k, market cap is 83k $),
then for 10 years period after 1 month we will have 10$ price (total tokens 8.3k, but market cap sure will be same 83k $ and price 10$ case in this case it's a rare token and low supply).
Just simple math.

Difference is only speed of price change cause inflation.

The real question in regards to supply is whether they decide to increase the algorithm difficulty as time goes on. It would be a much more ideal situation for the investors if you got ART mined at a decreased rate every month (such as bitcoin), that way you get more ART at the beginning when it is more valuable rather than the end when most people probably have moved on.  This also makes the coin more scarce (increasing the coins value) as time goes on. A major reason for Bitcoins rise in price was the increasing algorithm difficulty along with a relatively small (21 million) maximum cap on total circulation. If we get the same amount of ART every month we mine it, it's bad news bears for those who bought at the ICO.

It seems this wil be an fonctionality of art..yu can check this in wp.

I'll check it out. Thanks.

[MiBambino]

Even if the increased mining difficulty would ensure you'd get 20 ART a day in the first years, there's still not al lot of incentive to invest IMO, as we hardly have any idea about the price per coin, and the exchanges it will be listed on. The great thing about the cryptomarket is that prices can climb with 1000% in a matter of weeks, yet with a genesis address and a fixed mining amount, that advantage becomes worthless. Hopefully, we'll be able to buy ART in bulk up front like minereum, otherwise it'd take years for an investor to break even, let alone make a profit from buying a genesis address.

[bontol72]

Even if all existing coins are invested on the first day (this is not realistic), this will give a mine about 4,500 coins a day (135k per month).   all the coins participating in ICO will be burnt

[skadoosh1]

Even if the increased mining difficulty would ensure you'd get 20 ART a day in the first years, there's still not al lot of incentive to invest IMO, as we hardly have any idea about the price per coin, and the exchanges it will be listed on. The great thing about the cryptomarket is that prices can climb with 1000% in a matter of weeks, yet with a genesis address and a fixed mining amount, that advantage becomes worthless. Hopefully, we'll be able to buy ART in bulk up front like minereum, otherwise it'd take years for an investor to break even, let alone make a profit from buying a genesis address.

thats actually a good idea. There should be some ART set aside for liquidity for the market to set up itself.

[Ghasty]

Even if the increased mining difficulty would ensure you'd get 20 ART a day in the first years, there's still not al lot of incentive to invest IMO, as we hardly have any idea about the price per coin, and the exchanges it will be listed on. The great thing about the cryptomarket is that prices can climb with 1000% in a matter of weeks, yet with a genesis address and a fixed mining amount, that advantage becomes worthless. Hopefully, we'll be able to buy ART in bulk up front like minereum, otherwise it'd take years for an investor to break even, let alone make a profit from buying a genesis address.

Yeah man if they let you buy ART in bulk, I know what I'm doing with my MNE. Hopefully the price of MNE jumps before the ICO, to give us some insurance.

[MiBambino]

Even if the increased mining difficulty would ensure you'd get 20 ART a day in the first years, there's still not al lot of incentive to invest IMO, as we hardly have any idea about the price per coin, and the exchanges it will be listed on. The great thing about the cryptomarket is that prices can climb with 1000% in a matter of weeks, yet with a genesis address and a fixed mining amount, that advantage becomes worthless. Hopefully, we'll be able to buy ART in bulk up front like minereum, otherwise it'd take years for an investor to break even, let alone make a profit from buying a genesis address.

Yeah man if they let you buy ART in bulk, I know what I'm doing with my MNE. Hopefully the price of MNE jumps before the ICO, to give us some insurance.

Either way I firmly believe in MNE as a coin, because it's still possible to buy and sell hundreds of them. My guess is we'll see a new ATH before the end of september, probably around 15-20$.

[pro100j]

now MNE is slowly going back, price is falling:/ of course when will be announced exact date of ICO there will be pump and till the ICO end price will be good, but i dont know what will hapenns after ICO ends, hope that there will no be the same as it was a month ago, when price was falling till 1 usd

[musclepump]

It should be able to hold it's price well once all the MNE coins will be burned...

[crsbee]

Hopefully we will see the official ANN thread for artemine soon with all the details why ART is worth investing in. This will then also give MNE another push as more people will want to be in at the ICO.

[bontol72]

Hopefully we will see the official ANN thread for artemine soon with all the details why ART is worth investing in. This will then also give MNE another push as more people will want to be in at the ICO.

Agree with you. Need a separate topic

[mnamshares]

HI @minereum

I have prepared Logo Reveal video and Promo Video for ARTEMINE, and sent PM.  Please check and respond to it.

We are eagerly waiting to see these Artemine videos, can you share them here, Please?

[therhslv]

I found one on youtube https://www.youtube.com/watch?v=hdSOw_2kUSc
I think thats hes video

[MiBambino]

Artemine on the news:

http://www.coinnewsasia.com/minereum-team-plans-to-launch-ico-for-artemine-minereum-token-v-2-0/

that's great news!! Question, let's say I buy 10.000 ART at the ICO. Do I end up with 10.000 coins, or will I get a genesis adress that mines 10.000 coins over the period of 60 years?

You will get a Genesis address that mines 10.000 coins over the period of 60 years.

I can't believe anyone in their right mind would choose an investment that takes 60 years, in a market that's barely 10 years old. if there's no way to buy ART in bulk up front, like any other coin, what's the purpose of investing? Ask yourself, would you rather get 20K ART now, each valued at 1$, or 1ART a day over the next 20.000 days, with no guarantees that ART will even be worth 0.01$ within 1 year?

You make an interesting point, but don't forget that the Dev is planning to have a market to sell genesis addresses. So in essence, you could cash out any time before those 60 years.

That still doesn't change anything. Would you buy bitcoin now at 4000$, if you knew you could only cash out in 5 years, let alone 60? I can assure you, if we can only buy genesis addresses, this coin will be worthless within 1 year.

[minime0105]

Even if the increased mining difficulty would ensure you'd get 20 ART a day in the first years, there's still not al lot of incentive to invest IMO, as we hardly have any idea about the price per coin, and the exchanges it will be listed on. The great thing about the cryptomarket is that prices can climb with 1000% in a matter of weeks, yet with a genesis address and a fixed mining amount, that advantage becomes worthless. Hopefully, we'll be able to buy ART in bulk up front like minereum, otherwise it'd take years for an investor to break even, let alone make a profit from buying a genesis address.

well I think buying bulk artemine can be done by genesis address selling, but having some on exchanges, you definitely can't. Worth a try, who knows what will happen in those 60 years, investing in one address will not hurt you I guess.

[jofox]

To me, I have to buy 5 blocks of artemine to by using my minereum, do you think it's okay? Because I can see artemine helping even with him for 60 years. Even though my grandchild did manage it.

[Münzpräger]

Artemine on the news:

http://www.coinnewsasia.com/minereum-team-plans-to-launch-ico-for-artemine-minereum-token-v-2-0/

that's great news!! Question, let's say I buy 10.000 ART at the ICO. Do I end up with 10.000 coins, or will I get a genesis adress that mines 10.000 coins over the period of 60 years?

You will get a Genesis address that mines 10.000 coins over the period of 60 years.

I can't believe anyone in their right mind would choose an investment that takes 60 years, in a market that's barely 10 years old. if there's no way to buy ART in bulk up front, like any other coin, what's the purpose of investing? Ask yourself, would you rather get 20K ART now, each valued at 1$, or 1ART a day over the next 20.000 days, with no guarantees that ART will even be worth 0.01$ within 1 year?

You make an interesting point, but don't forget that the Dev is planning to have a market to sell genesis addresses. So in essence, you could cash out any time before those 60 years.

That still doesn't change anything. Would you buy bitcoin now at 4000$, if you knew you could only cash out in 5 years, let alone 60? I can assure you, if we can only buy genesis addresses, this coin will be worthless within 1 year.

I have already posted a few suggestions in this thread. The mining algorythm should be more than just a linear formula. That's old news and only worked because MNE was airdropped. 60 years is ridiciulous.
Why not let smaller accounts mine faster? As a compensation bigger accounts would generate more than you paid for initially. This way you could strategically buy Artemine in the ICO and decide whether you want the ART fast or get more of them later.
Another idea would be to use MNE as "mining rigs" or catalysator. You send MNE from an ART genesis address to a burn address and the mining process of the genesis address will be accelerated for x amount of time. This would give MNE a nice place in the ecosystem. There are many more possibilities.

[MiBambino]

Artemine on the news:

http://www.coinnewsasia.com/minereum-team-plans-to-launch-ico-for-artemine-minereum-token-v-2-0/

that's great news!! Question, let's say I buy 10.000 ART at the ICO. Do I end up with 10.000 coins, or will I get a genesis adress that mines 10.000 coins over the period of 60 years?

You will get a Genesis address that mines 10.000 coins over the period of 60 years.

I can't believe anyone in their right mind would choose an investment that takes 60 years, in a market that's barely 10 years old. if there's no way to buy ART in bulk up front, like any other coin, what's the purpose of investing? Ask yourself, would you rather get 20K ART now, each valued at 1$, or 1ART a day over the next 20.000 days, with no guarantees that ART will even be worth 0.01$ within 1 year?

You make an interesting point, but don't forget that the Dev is planning to have a market to sell genesis addresses. So in essence, you could cash out any time before those 60 years.

That still doesn't change anything. Would you buy bitcoin now at 4000$, if you knew you could only cash out in 5 years, let alone 60? I can assure you, if we can only buy genesis addresses, this coin will be worthless within 1 year.

I have already posted a few suggestions in this thread. The mining algorythm should be more than just a linear formula. That's old news and only worked because MNE was airdropped. 60 years is ridiciulous.
Why not let smaller accounts mine faster? As a compensation bigger accounts would generate more than you paid for initially. This way you could strategically buy Artemine in the ICO and decide whether you want the ART fast or get more of them later.
Another idea would be to use MNE as "mining rigs" or catalysator. You send MNE from an ART genesis address to a burn address and the mining process of the genesis address will be accelerated for x amount of time. This would give MNE a nice place in the ecosystem. There are many more possibilities.

Those are some interesting ideas, i'm curious for the devs thoughts on them; hopefully there's still room for change and adaptation in the art algorytm

[Mahiro11]

Still hoping the price of mne would go up. Looks yeah when the ico of it comes up the price of mne would go up too. I'll be waiting for that day. Still hodl for now.