alot of people are mining MTC were we missing something

[akaCash]

Lol. How long are you going to carry on this bullshit convo with yourself? Please don't think that just because I'm the first to call you out on this that no one else has noticed it.

Edit: Just noticed I wasn't the 1st actually, just makes it more lol though.

[FreePls]

metiscoin = MTC

marinecoin = where do you see a "T" in that name?

 

[monica87]

I think the T comes from Maritime Network marinecoin belongs to and its the official coin of the network that they are creating with various other alt coins they are talking about hundreds

Hector we will talk tomorrow once you sober up this has been an interesting conversation

[samysamy1]

I have no idea what I read there.  They want to create a city?  And something about getting interest for retirement?  I wonder if they mean they have PoS, which does pay you "interest" on coins that are aging in your wallet.  But they are definitely not the first coin in the world to do that.  If anyone has more info on this one, let me know, it sounds weird but interesting.


Looks like the Coin itself is 2 minute block time, and 1 coin reward for the next 1000 years, with no halving ect.  What's very odd, is the website is/should be their sales tool to tell people what they are doing but instead they want you to e-mail them to get the basic info of the coin.

Just a question: Why do people compare Pos with earning interest?
Interest (invented by the Jewish bankers) is not the same as business as it is an unfair/injustice way of gaining money and disadvantages other people.

An example of interest:
Lending money to a needy person and expecting him/her to pay an extra amount on top of it, which will grow bigger and bigger if this person struggles to pay it back on time.
There are two solutions for this: 1) You lend money and expect the same amount back. 2) You give the money as a way of investment - so you will make profit or loss accordingly

Another example of interest:
You swap a loaf of bread against 2 loafs of bread.
You alsways need to change the same amount of exact the amount in case it's the same type (bread for bread, salt for salt, gold for gold etc.)


To be very honest I don't understand cryptocurrencies very well but I would appreciate it if someone could explain me why the "profit" from forging is compared to interest and therefore an injust system.

[samysamy1]

Could Monica and Hector be one and the same person or they collaborate intentionally with each other in order to promote this coin 

[HectorVT]

akaCash would you explain this person the difference since you seem to know it all make sure to use good capitilazation sorry samysamy if I try to explain it akaCash will smash me into pieces and I don't want that to happen sorry kiddo.

[HectorVT]

no samy I am actually a AI robot, created by marinecoin, I am the first prototype of many to come that will promoto MTC   :

[Vivisector999]

To Samysamy1:

The way a PoS coin works is that it essentially pays you to keep your coins untouched in your wallet.  In a PoS coin, the longer you leave your coins untouched in your wallet the more Coin age they accrue.  This Coin Age mines the PoS part of the coin (Making it more energy efficient), and alot of coins have average interest rates the PoS pays out.  It's not much, usually around 5% a year.    Meaning if you left 1000 coins in your wallet for a year, and never touched the coins, added more to your wallet or mined with the PoW part of the wallet, at the end of the year you should see about 1050 coins sitting there, which is what I call gaining interest.

Since you don't understand cryptocurrencies very well, I will give you a brief description of what I have picked up so far.  Most cryptocurrencies work on the basis of a PoW system.  The way a cryptocurrency works is everyone is sharing the blockchain.  It's all on a Peer to Peer network.  If we lived in utopia, where there was no such thing as theft, the blockchain could exist without a single watt of power being used for keeping the chain secure.   What they devised instead since we know many people steal IRL was to get all the computers play an energy sucking game with the voting of which chain is the correct one going to the person that finds the block.  If a person or entity can find multiple blocks in a row, they can effectively tell the network that the blockchain they created is infact the correct one, and the one that is correct is one that was a fraud, thus it is rejected.  This is called a 51% attack, and is the main reason they want the power distributed to as many people as possible.  

What a PoS cryptocurrency does, since the developer SunnyKing noticed was the PoW system was using alot of the world power to keep playing this game of who gets the block.  So he invented a new greener way to distribute the voting power by having a portion of the coins power coming from the old PoW system.  The other part would be generated by coin age of the coins.  Thus if a person wanted to 51% attack a coin, they would not only have to get the majority of the voting shares from the PoW side, but also own enough coins to have a coin age to get the PoS share of the coin.  Yes this system does allow the coin rich to get control of the coin and get greater power.  But it holds itself that a person that owns such a large share of the currency would not want to sacrifice all their coins to take the crypto-currency down.  As time goes on, and all the rewards are divided out, essentially they could turn the PoW electricity sucking part of the coin off and have the cryptocurrency run basically energy free going off the premise that no one will want to kill all their coins in doing the attack.  

Don't take my word for it, I think I have it, but I could be totally wrong.



After reading more, it looks like they are actually just buying back, or taking control over portions of the coins available to control the price, since you can't dump what you no longer control.  They are then paying an interest to you on the coins that they now have control over in their untouchable vault.  

[MisO69]

no samy I am actually a AI robot, created by marinecoin, I am the first prototype of many to come that will promoto MTC   :

I believe you.

Thanks for the laugh, its pretty funny to see the lone developer trying to pump his coin.

[monica87]

I am glad you guys enjoyed and thanks for helping to double the network hash rate to 25.000 khash in one hour, 1 marinecoin can be given to anyone who helped in here you can always convert your MTC to EXN or DOGE on the website thanks good night, there is a war going out we are ready to do almost anything to win pass thru the crowd to implement the ideas.

[RJX]

Mining at http://mtc.coinminerpool.com

If I qualify for a free coin:

n16herQfZhTK5iSecocB8EPcrwShDrHxpn

Thanks!

also: please provide working conf file if possible. I got this now (called Marinecoin.conf):

rpcuser=username
rpcpassword=password
rpcallowip=localhost
rpcport=
gen=0
server=1
addnodes=78.188.245.233
addnodes=91.211.56.142
addnodes=222.77.163.224
addnodes=197.6.171.187

Thanks2!

[Edward75]

Amazing thread this has been,

GO MTC MTC MTC

[Edward75]

Let's keep this post on top

[dissident]

interesting idea... it's what crypto currencies should be... gradual release of coins over time which helps with price stability and keeps large amounts of coins out of the hands of the very few.  However with all the 'pump and dump' currencies available I don't see this one taking off in the short term. People will go where the money is, and where the attention and popularity are.

[daniobg]

you can always convert your MTC to EXN or DOGE on the website

I don't see the MTC>DOGE option anywhere on the website??

[monica87]

if you want to trade send a inquiry to the marinecoin website and write how many marinecoin's you want to trade for DOGE it will be responded currently MTC buy is 0.97 sell is .82 min trade 10 MTC you will be given an offer around that range, it will be automated soon and many other coins will be added pricing based on MTC, we don't advertise Doge option yet so that it won't be abused before we get solid follower base we are very new you know.

[Edward75]

Let's keep this post unto date

MTC is likely to be in BTC-E if not cryptsy by the mid or end of this year this coin is heavily invested,

[samysamy1]

Thank you for your response  Vivisector

The way a PoS coin works is that it essentially pays you to keep your coins untouched in your wallet.  In a PoS coin, the longer you leave your coins untouched in your wallet the more Coin age they accrue.  This Coin Age mines the PoS part of the coin (Making it more energy efficient), and alot of coins have average interest rates the PoS pays out.  It's not much, usually around 5% a year.    Meaning if you left 1000 coins in your wallet for a year, and never touched the coins, added more to your wallet or mined with the PoW part of the wallet, at the end of the year you should see about 1050 coins sitting there, which is what I call gaining interest.

But isn't it that with PoS you'll have to mine/forge in order to earn what you call 'interest'? This means that you will eventually have to use computer power (far less than with PoW) by running a client or whatever. I don't know anything about Peercoin, but this is how Nxt works. You won't get any 'interest' if you don't run the client.

[monica87]

No need to run any client in marinecoin the system is centralised in that way,  that's why it is pre allocated for future generations to reward the users without any client requirement whatsoever, these running clients etc are unrealistic for general population to adapt that's why we have chosen this method, no body is going to check if their client is running everyday to earn interest

[monica87]

Good explanation