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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1341994 times)
Beaverslayer
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March 26, 2014, 12:53:36 AM
 #10681

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...
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March 26, 2014, 12:56:51 AM
 #10682

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 Smiley

I understand me and my best friend share the same birthday. I'm glad you're having a good one.
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March 26, 2014, 01:03:30 AM
 #10683

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)
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March 26, 2014, 01:07:07 AM
 #10684

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...
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March 26, 2014, 01:10:01 AM
 #10685

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.
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March 26, 2014, 01:18:52 AM
 #10686

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.

Zeitcoin - Mm3rSgi34U5RMnrdusjWeK8UuWNmJu1ogq | Bitcoin - 16bpb3FBFbSvfsvXKabf7C4Zwwgwpkc4vn | Litecoin - LKJhuU68SdMPnRC1EAFimS7KNs4dXs3yrf | Dogecoin - DDeez8PhqRJkGVsu1pTF9SZEWXz3ySke56
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March 26, 2014, 01:49:25 AM
 #10687

done!!!


took 6 hours but it's done.   


1.6 looks alot better than my old 1.3



go MINT!!
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March 26, 2014, 02:05:56 AM
 #10688

Well I was just informed that Mintcoin will soon be added to the coins that can be tipped through the Facebook Multicoin Tipping App. This means that very soon you will be able to share Mintcoins with friends and family via Facebook tipping. Here's a link to their page.

https://www.facebook.com/groups/MultiCoinTipping/permalink/705360899527599/
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March 26, 2014, 02:06:46 AM
 #10689

just did a test run on depositing 100,000 mint and it went thur with ease.



will deposit more tomorrow
stormia
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March 26, 2014, 02:11:52 AM
 #10690

Well I was just informed that Mintcoin will soon be added to the coins that can be tipped through the Facebook Multicoin Tipping App. This means that very soon you will be able to share Mintcoins with friends and family via Facebook tipping. Here's a link to their page.

https://www.facebook.com/groups/MultiCoinTipping/permalink/705360899527599/

This is great. I went ahead and voted for mintcoin as well, even though they already said it will be added Cheesy can't hurt!
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March 26, 2014, 02:30:18 AM
 #10691

Yippieh, so I did find a bug. Is there a bug finding bounty?
If you want to support me & my work: Mfxyu7TRCDxco5sGn8EV1hNqF2A7Ut9oo4
Completed fixing it today, submitted a patch to devs just a couple of hours ago. Probably it'll be included in the next release.
edit: I thought I should give more information. Balance displayed on UI was correct. Balance displayed when calling "getbalance" by itself was correct. The commands "getbalance *", "getbalance ""   ", "getbalance accountname", "listaccounts" had some problems, their outputs were inconsistent with each other and UI's shown balance. The inconsistencies occured only on minted transactions
Alright. Well done fixing this. Thank you very much, in the name of the whole community.
Is this a Mintcoin specific bug - or do you want to tell all the other PoS coins, too?

How much code do mintcoin and blackcoin actually share?

Might this "wrong balance" bug be connected to the wrong balances at cryptorush?

That was a UI bug and had nothing to do with the actual balance itself. This was explained to you buy the guy who submitted the patch, which you conveniently omit. Not sure what your agenda is, but as far as I'm concerned you can take your FUD and GTFO. Our blockchain is fine.
Sick of clowns.

Please re read.

You are throwing aggression at me, and I don't deserve it.


1) I cited almost the full answer to my original post, shortened only what was irrelevant for my answer. Please compare now.

2) I noticed that answer to my post because paspi PMed me, AND cited my post. It's impossible to read all the noise in this forum. So if someone else answered, too, then I am sorry; please point me to his post - then I can see what I "omitted".

3) I still don't know what you mean by "which you conveniently omit". WHAT have I omitted?

4) "Not sure what your agenda is" - easy: I am trying to help. After I had discovered, and documented a real bug. Re-read my postings please. And if you are related to Mint, then I suggest, you thank me for my bug report.

5) "Our blockchain is fine." I believe you, and I never doubted that.  RE-READ my posting. I congratulated paspi to having fixed the problem. All is cool with MINT. Where do I attack your block chain?

6) Where is my FUD ?  Cryptorush has just had some ~100BTC stolen issues, due to their supposedly wrong handling of a supposedly wrong 'getbalance' answer. Nothing to do with MINT. Please follow the links, get an update.

7) IF mint and other PoS coins DO share source code (which I still don't know yet) ... and paspi might have actually done an important fix not only for mint, but also for other coins - why would YOU want to keep that improvement for yourself, instead of sharing it with other coins? What is your agenda in not sharing open source code? Do you think of MINT being an enemy of BC, or what?

8 ) Thanks for telling me GTFO, but I will decide myself where I linger :-)

9) The clown ... is not me.

10) Perhaps you had a very bad day? You have serious anger issues, which are narrowing your outlook onto the world; I suggest to make more breaks, go into nature!  


TL;DR:
I had found a bug in the mint client. It was found and got fixed.
Then I saw similiar topics popping up in two different PoS coins;
both had issues with getbalance. Related or not, I don't know.
Mint has just solved it - perhaps that could help other coins, too?

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March 26, 2014, 02:32:06 AM
 #10692

Thanks for the bug report Drakoin!
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March 26, 2014, 02:32:51 AM
 #10693

Thanks for the bug report Drakoin!

 Wink

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March 26, 2014, 02:39:50 AM
 #10694

Has anyone had a pyout from Hashco.ws yet?

As per the announcement, payouts happen once daily, ~03:30 UTC (~1hr from this post).

Happy Mining.

Profit-Switching Pool w/ Vardiff -> http://hashco.ws  Optionally keep the alts we mine or auto-trade for BTC. In addition can be paid out in any of: 365, AC, BC,  BTC, C2, CINNI, COMM, FAC, HBN, MINT, PMC, QRK, RDD, WC, XBC
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March 26, 2014, 03:06:57 AM
 #10695

Drakoin, so I posted a smartass reply to your post- I've deleted it, sorry about that. Good on you for finding a bug. We get a lot of trolls in this forum, and I made a false assumption about you.

I myself can be considered a troll at times, because I do have a bad attitude at times. Sorry, it's ingrained in me. I actually don't support other coins myself, I'm not interested in them. I feel mint is superior and that's all I got to say about that  Wink

I am not on the mintcoin team, just a supporter\holder.

171XPWLy36oDmQfMdnPYWHfQgkfRoYGjHd
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March 26, 2014, 03:11:49 AM
 #10696

Has anyone had a pyout from Hashco.ws yet?

As per the announcement, payouts happen once daily, ~03:30 UTC (~1hr from this post).

Happy Mining.

First mint payouts away. 

Profit-Switching Pool w/ Vardiff -> http://hashco.ws  Optionally keep the alts we mine or auto-trade for BTC. In addition can be paid out in any of: 365, AC, BC,  BTC, C2, CINNI, COMM, FAC, HBN, MINT, PMC, QRK, RDD, WC, XBC
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March 26, 2014, 03:26:18 AM
 #10697

Well I was just informed that Mintcoin will soon be added to the coins that can be tipped through the Facebook Multicoin Tipping App. This means that very soon you will be able to share Mintcoins with friends and family via Facebook tipping. Here's a link to their page.

https://www.facebook.com/groups/MultiCoinTipping/permalink/705360899527599/

This is great. I went ahead and voted for mintcoin as well, even though they already said it will be added Cheesy can't hurt!

This is great news as I've been asking if this is possible. I look forward to sharing coins with friends and family. I'm sure I can figure out other ways to promote the coins through facebook groups with this as well!  If there are ever Mintcoin voting situations please send me a message and I will do what I can to help.
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March 26, 2014, 03:29:19 AM
 #10698

http://finance.yahoo.com/news/bitcoin-property-not-currency-tax-202506165.html;_ylt=A0LEVzQYSTJTBSIAn79XNyoA;_ylu=X3oDMTB0ZGk2Z2FqBHNlYwNzYwRjb2xvA2JmMQR2dGlkA1ZJUDA3N18x    This seems like good news for the community. The U.S. government is taking an official position on Bitcoin. They want their piece but that also adds security for banks and businesses that have been on the fence about using
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March 26, 2014, 03:52:55 AM
 #10699

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.

First, how many coins do you have trying to mint? The more you have the better, $5 worth of coins is probably never going to be able to find a block. Second, it is better to keep all your coins that you want to save for minting together on 1 address to help pool together all of your coins' coin age; that way they are all working together to find a block rather than against each other. Third, people need to realize that you are not guaranteed to start minting on day 20. Day 20 is the earliest possible day that coins are allowed to try for blocks. More than likely, it could take several days later to have enough coin age to find a block. Fourth, Once it has been 20 days, your coins accumulate additional coin age with every second that passes by; so leave your wallet open for minting for several hours or several days. After you do successfully find a block and receive your newly minted coins, you have to go through the waiting time all over again (20 days MINIMUM).
Lastly, I would suggest, if you are really serious about getting into being a heavy hitting long-term power minter and really be able to compete for the future, you should try to aquire several million coins now, especially while they are still cheap, and then, do not sell any mintcoins right now, as selling off your mintcoins is equivalent to selling off your mining gear. Think of your coins not only as coins, but as little workers that you have bought, earned, and payed for...they are your engine, your team of workers will continue reaping rewards for you years to come. ~Welcome to the Mintcoin revolution.~

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March 26, 2014, 04:10:29 AM
 #10700

http://finance.yahoo.com/news/bitcoin-property-not-currency-tax-202506165.html;_ylt=A0LEVzQYSTJTBSIAn79XNyoA;_ylu=X3oDMTB0ZGk2Z2FqBHNlYwNzYwRjb2xvA2JmMQR2dGlkA1ZJUDA3N18x    This seems like good news for the community. The U.S. government is taking an official position on Bitcoin. They want their piece but that also adds security for banks and businesses that have been on the fence about using


that's somewhat confusing ... always have to know your cost of basis and what you're buying to determine your capital gains? 

so if you sell the bitcoins back to USD at a gain, it's taxed as a property gain?

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