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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1337208 times)
Prolifik
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February 10, 2014, 01:17:07 PM
 #1181

Taxidermista

You just have to sync the wallet to get PoS coins.

Coin days are not forgotten it says in the OP.

hamiltino I hope it doesn't work like that, I wanted to toss some of these on a paper wallet and store them somewhere safe.

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nequaquamvacui
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February 10, 2014, 01:24:28 PM
 #1182

somethings strange on hashrapid, been mining there for an hour now with 450 kh/s and only got 75 coins (and none unconfirmed) for it at diff 12, usually it's at least 5000 /hour on other pools.

Nothing in an hour, I'm hashing & connected to the stratum :/ I suppose it's just really backlogged and will take a few hours to catch up..
hope so. never had problems with this pool before
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February 10, 2014, 01:27:15 PM
 #1183

Holding Mintcoins is like having a mining farm that doesn't use electricity and has no downtime.

Not exactly, you need to have your pc on and your wallet open 24/7.

You just have to open the wallet and unlock it. No need to keep it open 24/7.

Again, you need to keep it open 24/7, this is how POS works.

Again, no you don't.

I've done it with PPC and GRA. If I have to keep the wallet-QT open 24/7 to get coins I should not be getting any coins. But I am getting a lot of coins. Smiley

Once the correct coin age is reached you just got to open your wallet, unlock it (walletpassphrase <your_password> 999999999 true) and leave it open long enough for the stake to mint new coins. Once this is done you can close the wallet and open/unlock it 20 days later. I keep mine open anyway - more nodes for the network.
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February 10, 2014, 01:32:06 PM
 #1184

yeah its done to incentivise people to maintain full nodes


Incentives to maintain full nodes
This system introduces powerful incentives to maintain full nodes. Many people argue that the lack of an incentive to maintain a full node is a problem in the bitcoin system.
1) a steady flow of txns will generate some fees even if all public keys remain active. Active keys must be maintaining full nodes. Otherwise they could not provide the voluntary signatures which prove their activity. Even very weak incentives are sufficient in this case. If almost all keys are associated with active nodes, then it is not necessary to motivate additional participation.
2) Some public keys may decide to become inactive. This is costly for them. They will suffer a loss of 5% of their balance per year for as long as they remain inactive.
3) The active public keys constantly capture revenue from inactive public keys. This means that the incentives to remain increase dramatically as participation falls. Suppose that 50% of public keys maintain full nodes, then this 50% will capture 2.5% of coins per annum. This is equal to an annual of return of 2.0%. The alternative, inactivity, yields an annual return of -5.0% as discussed in point 2. I consider this a reasonable incentive level and participation rate. Suppose that I am wrong, and only 10% of public keys maintain full nodes. Then these 10% will capture 4.5% of all extant coins per annum. This implies an annual return on participation equal to 45% per annum. This is a very strong incentive and is almost certain to be sufficient, even if nodes are quite costly to maintain. If only 1% of coins participate, then 4.95% of all extant coins will be distributed to this 1% each year. This implies a weekly return on participation of 3%, a pirate ponzi scheme level return. If these incentive are inadequate to support a healthy network of full nodes (which seems unlikely to me), then the levy on dead coins could be increased to exceed 5% per annum.
4) Many people will not have enough coins to justify running their own node. Such individuals will likely use an online banking service which could store their limited spend key. The service could return interest to users in exchange for managing their keys.
5) Other individuals may prefer the privacy associated with dropping out of participation. These individuals are still welcome to use the network, but must face a wealth tax of 5% per annum to compensate for the security risk created by their behavior.

You mean the extra coins are only divided among the people that are active with PoS? So 20% extra coins in the first year gets divided among the people that are still active? I thought it was just 20% extra coins for the active part of the network.

If it was easy, everybody would be doing it
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February 10, 2014, 01:33:58 PM
 #1185

Is http://mint.hashrapid.com/ paying out?

Not had even a single unconfirmed for some time.

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February 10, 2014, 01:34:04 PM
 #1186

PoS is awesome. I just want to know how we know this is one? Where's the proof? DEV could up and walk away in 5 weeks and leave everyone holding the bag.

I've noticed asking questions on here doesn't do too much good though. Everyone seems to have rainbows shooting out of their a** Roll Eyes

dev stated premine was 1 %, 70 million. At 5 satoshi he won't go very far with that and the biggest whales on hashstrike (80,000 kh/s) mined 50 millions / day until recently (at least reportedly)
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February 10, 2014, 01:47:36 PM
 #1187

Is http://mint.hashrapid.com/ paying out?

Not had even a single unconfirmed for some time.

Yes, I got paid one hour ago. We are thinking they have backlog or something(I'm no expert on terms)
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February 10, 2014, 01:51:25 PM
 #1188

2014 is the year that proof of work because redundant

stacking coin
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February 10, 2014, 01:52:38 PM
 #1189

HashStrike pool is down?!

2nd time in 4 hours! Sad



When it rains, it pours Sad  The block chain in our wallet got corrupted, so now having to fully re-download it to get back up and running.

# HashStrike $ Mining Pools -- Ruby -- Karma -- Mint -- Leaf -- Zeit -- Syn
** Low Fees ** Awesome support ** Super stable **

originalchilli
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February 10, 2014, 01:59:16 PM
 #1190

HashStrike pool is down?!

2nd time in 4 hours! Sad



When it rains, it pours Sad  The block chain in our wallet got corrupted, so now having to fully re-download it to get back up and running.

good to see you updating us here, im at work at the moment and all my minors are still pointed to your servers, good luck pal.

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February 10, 2014, 02:00:17 PM
 #1191

Is http://mint.hashrapid.com/ paying out?

Not had even a single unconfirmed for some time.

Yes, I got paid one hour ago. We are thinking they have backlog or something(I'm no expert on terms)

Yeah, it's usually caused by a backlog with cronjobs, I think.

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trigeek
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February 10, 2014, 02:06:13 PM
 #1192

HashStrike pool is down?!

2nd time in 4 hours! Sad



When it rains, it pours Sad  The block chain in our wallet got corrupted, so now having to fully re-download it to get back up and running.

good to see you updating us here, im at work at the moment and all my minors are still pointed to your servers, good luck pal.

Whatever pool you choose (and this applies to any coin) I would strongly advise to set up at least 2-3 backup pools.  No pool is perfect, and it will keep you hashing at 100% all the time.  I'm manually recovering the blockchain at the moment, and we should be back shortly.

# HashStrike $ Mining Pools -- Ruby -- Karma -- Mint -- Leaf -- Zeit -- Syn
** Low Fees ** Awesome support ** Super stable **

sakkosekk
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February 10, 2014, 02:25:53 PM
 #1193

HashStrike pool is down?!

2nd time in 4 hours! Sad



When it rains, it pours Sad  The block chain in our wallet got corrupted, so now having to fully re-download it to get back up and running.

good to see you updating us here, im at work at the moment and all my minors are still pointed to your servers, good luck pal.

Whatever pool you choose (and this applies to any coin) I would strongly advise to set up at least 2-3 backup pools.  No pool is perfect, and it will keep you hashing at 100% all the time.  I'm manually recovering the blockchain at the moment, and we should be back shortly.

--failover-only is the parameter you guys should use.

This is how your .bat-file will look with failover set to other pools;
stratum+tcp://superminer.com:1111 -I 17 -g 1 -u user.woker -p password --failover-only stratum+tcp://megaminer.com:2222 -I 17 -g 1 -u user.woker -p password

Code;
Code:
-o stratum+tcp://superminer.com:1111 -I 17 -g 1 -u user.woker -p password --failover-only -o stratum+tcp://megaminer.com:2222 -I 17 -g 1 -u user.woker -p password

You can do this with as many pools as you wish in the .bat-file. It's the only way you can leave your house and still be sure you are mining 6 hours later Wink

*Edit; corrected typos.
originalchilli
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February 10, 2014, 02:29:47 PM
 #1194

HashStrike pool is down?!

2nd time in 4 hours! Sad



When it rains, it pours Sad  The block chain in our wallet got corrupted, so now having to fully re-download it to get back up and running.

good to see you updating us here, im at work at the moment and all my minors are still pointed to your servers, good luck pal.

Whatever pool you choose (and this applies to any coin) I would strongly advise to set up at least 2-3 backup pools.  No pool is perfect, and it will keep you hashing at 100% all the time.  I'm manually recovering the blockchain at the moment, and we should be back shortly.

--failover-only is the parameter you guys should use.

This is how your .bat-file will look with failover set to other pools;
stratum+tcp://superminer.com:1111 -I 17 -g 1 -u user.woker -p password --failover-only stratum+tcp://megaminer.com:2222 -I 17 -g 1 -u user.woker -p password

Code;
Code:
stratum+tcp://superminer.com:1111 -I 17 -g 1 -u user.woker -p password --failover-only stratum+tcp://megaminer.com:2222 -I 17 -g 1 -u user.woker -p password

You can do this with as many pools as you wish in the .bat-file. It's the only way you can leave your house and still be sure you are mining 6 hours later Wink

is there a way to set up backups when im using GUIMinor?

thanks

FOLLOW ME ON TWITTER -  @originalchilli
bizzargin
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February 10, 2014, 02:33:30 PM
 #1195

CGWatcher should be enabled on start up. IMO

Danz0r77
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February 10, 2014, 02:33:39 PM
 #1196

Any news of any other exchanges coming on board?

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February 10, 2014, 02:35:28 PM
 #1197

Does anyone have confirmed coins?
sakkosekk
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February 10, 2014, 02:39:29 PM
 #1198



--failover-only is the parameter you guys should use.

This is how your .bat-file will look with failover set to other pools;
stratum+tcp://superminer.com:1111 -I 17 -g 1 -u user.woker -p password --failover-only stratum+tcp://megaminer.com:2222 -I 17 -g 1 -u user.woker -p password

Code;
Code:
stratum+tcp://superminer.com:1111 -I 17 -g 1 -u user.woker -p password --failover-only stratum+tcp://megaminer.com:2222 -I 17 -g 1 -u user.woker -p password

You can do this with as many pools as you wish in the .bat-file. It's the only way you can leave your house and still be sure you are mining 6 hours later Wink

is there a way to set up backups when im using GUIMinor?

thanks

I have no idea how to set this up in the GUI interface Sad I first got the hang of mining when tried the regular cgminer(the one that launches a cmd window). GUI just messed everything up
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February 10, 2014, 02:40:16 PM
 #1199

HashStrike pool is down?!

2nd time in 4 hours! Sad



When it rains, it pours Sad  The block chain in our wallet got corrupted, so now having to fully re-download it to get back up and running.

good to see you updating us here, im at work at the moment and all my minors are still pointed to your servers, good luck pal.

Whatever pool you choose (and this applies to any coin) I would strongly advise to set up at least 2-3 backup pools.  No pool is perfect, and it will keep you hashing at 100% all the time.  I'm manually recovering the blockchain at the moment, and we should be back shortly.

The block chain has been loaded, now rescanning our wallet to re-import all those delicious mintcoins that everyone has been mining Smiley  T-minus 5 minutes until we're back up.  

To get technical, it looks like the wallet file for the pool is over 200MB due to the massive number of addresses and transactions the pool has touched, and this seems to be at the limit for the mintcoin client.  We'll be checkpointing the wallet and starting fresh to help make it more stable, as well as setting up a regular cron job to keep this from happening in the future.

# HashStrike $ Mining Pools -- Ruby -- Karma -- Mint -- Leaf -- Zeit -- Syn
** Low Fees ** Awesome support ** Super stable **

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February 10, 2014, 02:52:13 PM
 #1200

Why on hashrapid pool when you go to Getting started section, on the download link for the wallet you get digibyte link?
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