[ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]

[Crindon]

Is this the new floor price? I would like to buy another couple of milions When would you think is best time?

Remember when Bitcoins were $65 for 30,000 BTC? Buy up Mintcoins now before the price skyrockets.

[1714203593]

1714203593

[1714203593]

1714203593

[1714203593]

1714203593

[1714203593]

1714203593

[1714203593]

1714203593

[tommy69778]

Is this the new floor price? I would like to buy another couple of milions When would you think is best time?

I think we are headed up from here.

I think we missed the floor a couple of days ago and mint is on the up from now on.

[thisisit]

ecccoin same dev or was i misinformed?

wonder how this is going to end with all these pos coins popping up.

market will get saturated. strongest will survive.

[omahapoker]

4 hours down now


120000 blocks downloaded


53500 to go.


almost there!!!

[BiffyMcBifferstein]

I am running 1.6 of the wallet.  Mac version.  So far, no minting of any kind.  Not even failed attempts (as far as I can tell).

[omahapoker]

Is this the new floor price? I would like to buy another couple of milions When would you think is best time?

Remember when Bitcoins were $65 for 30,000 BTC? Buy up Mintcoins now before the price skyrockets.

yeah but there are 19billion mintcoin out there and only 13 million bitcoins out

[deadmanwalking]

Is this the new floor price? I would like to buy another couple of milions When would you think is best time?

Remember when Bitcoins were $65 for 30,000 BTC? Buy up Mintcoins now before the price skyrockets.

yeah but there are 19billion mintcoin out there and only 13 million bitcoins out

That has absolutey nothing to do with market cap. At 100,000 satoshi we will have a market cap higher than btc. We will also have replaced btc with an eco-friendly coin that has much faster transaction times.

I know how ridiculous right? But I had a dream about it, so it must be real

[David Latapie]

i think it is multipool ready and project F incoming!

Yep, I've got some conversation with dev recently.

BTW, sorry for my multi-days leave, I had my birthday to celebrate and an important bitcoin presentation to a bank to set up. I hope to be back on saddle soon.

[greentea]

I am running 1.6 of the wallet.  Mac version.  So far, no minting of any kind.  Not even failed attempts (as far as I can tell).

strange ... 1.6 on my MAC has minted fine albeit with orphans.

Are you running Mavericks? that's what Im on.

[moderndezigns]

i think it is multipool ready and project F incoming!

Yep, I've got some conversation with dev recently.

BTW, sorry for my multy-day leave, I had my birthday to celebrate and an important bitcoin presentation to a bank to set up. I hope to be back on saddle soon.

Happy Birthday David

[David Latapie]

Happy Birthday David

Thanks moderdezigns. Fun this is, we were two friends to be born on 25th of March at the restaurant. Funny situation when we congratulate each other

[DougB62]

Has anyone had a pyout from Hashco.ws yet?

[redwhite037]

dang, payout of 1 coin per block totally sucks. Who wants to mine this coin at this point, unless the exchange takes off again?

[omahapoker]

5 hours down now


149000 blocks downloaded


24000+ to go


almost done.

i cant wait till i put my 1350 mintcoin in my new wallet

[Beaverslayer]

Why doesn't Mintcoin do something like this? Not necessarily to copy them, but because it looks so cool.
http://www.businessinsider.com/theres-going-to-be-a-dogecoin-car-at-talladega-2014-3

It sure does look cool, but just how eco friendly do you think NASCAR is? There is just something about NASCAR that screams not very environmentally friendly...

[moderndezigns]

Happy Birthday David

Thanks moderdezigns. Fun this is, we were two friends to be born on 25th of March at the restaurant. Funny situation when we congratulate each other

I understand me and my best friend share the same birthday. I'm glad you're having a good one.

[beakins0]

Some people have suggested that the 20% interest rate for the first year is too high.  It sounds like a lot, but not all of that will be realized.  I will attempt to estimate an upper limit for the inflation percentage and compare it to Bitcoin and Litecoin.

First of all, mining ended before the 20 billion coin mark (I suspect this was due to POS blocks eating up potential POW blocks).  The last POW block was somewhere around #100800, and there were only 18.6 billion coins at that time.  Therefore, the number of coins available for the 20% POS reward is less than expected.  

Secondly, not all of those 18.6 billion coins will produce new POS coins.  Transactions destroy coin days, and the percentage of coin days destroyed in each block is currently around 60%:
http://mintcoin-explorer.info/block/a562045650e17ae6b1a3029ce93b1483bc116427fcaf7495fb62696165918bde
Of course, some of this could be people transferring coins the day after they receive a POS reward (I also don't know if this number includes coin days destroyed by minting).  Let's suppose that the relevant coin day destruction is closer to 20% (remember I'm looking for an upper limit on coin supply).  In other words I'm estimating that fewer than 80% of coins stored in wallets will be staked for a whole year rather than spent or transferred.

Thirdly, some of those initial 18.6 billion coins are stored on exchanges.  From earlier investigations in this forum (thanks rmoraos), it looks like the exchanges are not collecting POS rewards on the coins that they hold.  I checked earlier today, and there were a total of 1 billion Mintcoins for sale on the order books at Mintpal and Cryptsy.  That means that at most 17.6 billion of the initial POW coins are stored in wallets.

My upper limit for the number of coins collecting compound interest since the end of POW is 14 billion (80% of the 17.6 billion coins stored in wallets).  20% interest on 14 billion coins compounded every 20 days for a year works out to about 3.1 billion new coins.  Therefore, there will be fewer than 21.7 billion Mintcoins in existence by March 9, 2015.  With the decreasing interest rate, it will take a while to reach 70 billion coins.

Summary:
Increase in the number of coins over the next year:
Mintcoin: 16.6% (at most)
Bitcoin:   10.4% (12,560,000 coins, 1,312,500 mined in a year)
Litecoin:  39.1% (26,890,000 coins, 10,518,980 mined in a year)

[acceptance2]

Why doesn't Mintcoin do something like this? Not necessarily to copy them, but because it looks so cool.
http://www.businessinsider.com/theres-going-to-be-a-dogecoin-car-at-talladega-2014-3

It sure does look cool, but just how eco friendly do you think NASCAR is? There is just something about NASCAR that screams not very environmentally friendly...

Burning off the slash etc... on the Sonoma property - not so eco-friendly either. It's actually a major problem globally. Costs a lot more to chip and/or turn slash into compost material but much more eco-friendly.

Just saying...

[stormia]

dang, payout of 1 coin per block totally sucks. Who wants to mine this coin at this point, unless the exchange takes off again?

This coin isn't really meant to be directly mined any longer. Coins are generated by and the network is primarily secured by Proof-of-Stake. At this point you either have to buy in (get in while the price is still low!) or mine at a mint multipool which will mine the most profitable altcoin and automatically sell them and pay you out in mintcoin.

[BiffyMcBifferstein]

I am running 1.6 of the wallet.  Mac version.  So far, no minting of any kind.  Not even failed attempts (as far as I can tell).

strange ... 1.6 on my MAC has minted fine albeit with orphans.

Are you running Mavericks? that's what Im on.

Yes.  That's what I'm on (Mavericks) and I've had the wallet open for days.  Still nothing.