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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1331881 times)
luuupooo
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April 15, 2014, 10:25:28 AM
 #13241

Im curious to know why the multipool has not had much impact on price and can only come to 1 conclusion.  The POS interest rate seems to actually be holding this coin back for now. If I were to guess I think a lot of people just sell thier interest.

But if we make little a calculation:

18756335526 Mintcoins now
if we have 20% for the first year it is about 1,66 % per month
that means 1,66% from 18756335526 is = 311355169 ( per month )

311355169 divided per 30 days is = 10378505 coins per day

with the current price (16) it is a sell presure of = 1.66 BTC ( 24 h sell presure)

I know its going to change more over the months but its really not that much, isn it?
And that is just happening if everybody is selling their minted coins.

cheers
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ciocgun
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April 15, 2014, 10:32:43 AM
 #13242

20 days passed from my last minting

my wallet is 1.8, it is unlocked, and synchro..nothing happened...

@mintcointeam is it possible to check my wallet address?
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April 15, 2014, 10:41:18 AM
 #13243

I'm sure this has been answered by someone in the thread already, but I cannot find the answer to this question:

The total amount of MINT will be 70 Billion coins. The staking process is as following:
        - PoS variable interests:
        - 1st year: 20%
        - 2nd year: 15%
        - 3rd year: 10%
        - 4th and subsequent years: 5%


What puzzles me is what happens after the 4th year? Will the minting process ever stop or will the ammount of coins exceed 70 Billion due to minting, making the amount of coins infinite?



lill.com: a new generation search engine

MINT: MhJCsZZN7FooqasmPGB8NJE53jM8VhahqS  --  KARMA: KM1FDgdQUgEBHhw2KDZSChLxyBrE8bASsb
dille71
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April 15, 2014, 11:00:37 AM
 #13244

Im curious to know why the multipool has not had much impact on price and can only come to 1 conclusion.  The POS interest rate seems to actually be holding this coin back for now. If I were to guess I think a lot of people just sell thier interest.

But if we make little a calculation:

18756335526 Mintcoins now
if we have 20% for the first year it is about 1,66 % per month
that means 1,66% from 18756335526 is = 311355169 ( per month )

311355169 divided per 30 days is = 10378505 coins per day

with the current price (16) it is a sell presure of = 1.66 BTC ( 24 h sell presure)

I know its going to change more over the months but its really not that much, isn it?
And that is just happening if everybody is selling their minted coins.

cheers

True if everybody hold all their coins in their wallets all the time.
But since alot of coins are being moved maybe 50-70% actually mints. So maybe 1btc sell pressure every 24hr

Mintcoin: MsFGc9atNN6DddEsQHiq7MgDieoSLwtmg5
InformationCoin: Je4ZhmQBSd68oZ7CeXWMrWEsyprTXAVFuX
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April 15, 2014, 11:06:09 AM
 #13245

20 days passed from my last minting

my wallet is 1.8, it is unlocked, and synchro..nothing happened...

@mintcointeam is it possible to check my wallet address?

It would be a very nice feature to add to mint-qt, if there where a small icon in the bottom right showing when the wallet is "minting".

Cryptography is one of the few things you can truly trust.
luuupooo
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April 15, 2014, 11:51:52 AM
 #13246

20 days passed from my last minting

my wallet is 1.8, it is unlocked, and synchro..nothing happened...

@mintcointeam is it possible to check my wallet address?

It would be a very nice feature to add to mint-qt, if there where a small icon in the bottom right showing when the wallet is "minting".

thats true!
drent301
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April 15, 2014, 11:56:43 AM
 #13247

And behold the true power of mintcoin.

All those fast price expanding coins without a good foundation are dropping like dead flies.
And in all the panic, mincoin goes steady  Grin
jakema
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April 15, 2014, 11:59:27 AM
 #13248

I'm sure this has been answered by someone in the thread already, but I cannot find the answer to this question:

The total amount of MINT will be 70 Billion coins. The staking process is as following:
        - PoS variable interests:
        - 1st year: 20%
        - 2nd year: 15%
        - 3rd year: 10%
        - 4th and subsequent years: 5%


What puzzles me is what happens after the 4th year? Will the minting process ever stop or will the ammount of coins exceed 70 Billion due to minting, making the amount of coins infinite?



once we hit 5% it will stay 5% until we hit 70bil coins and then all pos will stop as the coin is capped at 70bill unlike BC witch has no coin cap and poses at 1% but enough bout BC that coin suckssss
does any one have a rough estimate of when we will hit 70bill coins? how many years or months of 5% pos will there be?
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April 15, 2014, 12:00:05 PM
 #13249

And behold the true power of mintcoin.

All those fast price expanding coins without a good foundation are dropping like dead flies.
And in all the panic, mincoin goes steady  Grin

As a cleaver member tolled me yesterday, as long as the MINT price is stable is it good for everyone.
- It will be comfortable for new investors to come in.
- Low risk for merchants.
- Mint holders can harvest a profit by minting.  

Cryptography is one of the few things you can truly trust.
TookDk
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April 15, 2014, 12:12:23 PM
 #13250

does any one have a rough estimate of when we will hit 70bill coins? how many years or months of 5% pos will there be?

I tried put the numbers into excel.
Start = 18b
1 year + 20%
2 year + 15%
3 year + 10
4 year + 5%
5 year + 5%
...

With these numbers do we hit 70b around 2036

Please correct me if I am wrong.

Cryptography is one of the few things you can truly trust.
nearmiss
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April 15, 2014, 12:24:55 PM
 #13251

Im curious to know why the multipool has not had much impact on price and can only come to 1 conclusion.  The POS interest rate seems to actually be holding this coin back for now. If I were to guess I think a lot of people just sell thier interest.

tbh, there isn't a large amount of activity on the multipool either.  There is about 50 active miners for a combined ~75Mh/s or so, compared to 'that other coin''s multipool that has 1500+ miners and 6+Gh/s last I heard.  If you want an impact, supporters have to mine.  I even tried giving away a few million mint to help it along, didn't really work.

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
jakema
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April 15, 2014, 01:01:48 PM
 #13252

check out how mintcoin is doing. WE ARE 10TH yay hopefully start moving up the list soon, our community has grown in the past week!

http://www.coingecko.com/
dogechode
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April 15, 2014, 01:11:24 PM
 #13253

nermiss hit the nail on the head. It's kind of circular because I think a lot of people tried it out but then they crunched the numbers and realized the amount of mint they were making in a day wasn't all that great given the current low price per mint on exchanges. No one is thinking super long term here, I would say easily 90% or more of people on this forum are expecting to make some massive profit in a matter of months.
stormia
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April 15, 2014, 01:32:05 PM
 #13254

nermiss hit the nail on the head. It's kind of circular because I think a lot of people tried it out but then they crunched the numbers and realized the amount of mint they were making in a day wasn't all that great given the current low price per mint on exchanges. No one is thinking super long term here, I would say easily 90% or more of people on this forum are expecting to make some massive profit in a matter of months.

Some people are thinking longer term  Wink
niothor
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April 15, 2014, 01:33:20 PM
 #13255

nermiss hit the nail on the head. It's kind of circular because I think a lot of people tried it out but then they crunched the numbers and realized the amount of mint they were making in a day wasn't all that great given the current low price per mint on exchanges. No one is thinking super long term here, I would say easily 90% or more of people on this forum are expecting to make some massive profit in a matter of months.

Some people are thinking longer term  Wink

Unfortunately too few of them
dogechode
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April 15, 2014, 01:43:28 PM
 #13256

The bottom line is the price would be increasing if people weren't selling. HBN is a great example of this - the price keeps going up because sell pressure is so low. Nobody is really selling in any significant quantity.

Now, mint does have a larger cap but still, if everyone (or even MOST users) were just holding and minting, then the price should naturally be rising. It's not. Therefore, people are selling, and significant amounts.
DougB62
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April 15, 2014, 01:53:47 PM
 #13257

Well I'm holding long term. All of my Mint is in my wallet. But - I wouldn't mind making a few bucks on the swings in the interim!  Grin

Thing is, I have relatively few Mint to play with, so I really can't make enough to justify the risk. So - I sit and wait for the launch, instead of trying to make enough to buy a lunch.  Wink
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April 15, 2014, 01:59:54 PM
 #13258

If I will put lot to sell to Cryptsy will I get POS coin to may account?
TookDk
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April 15, 2014, 02:03:24 PM
 #13259

If I will put lot to sell to Cryptsy will I get POS coin to may account?

No absolutely not. You are running a huge risk by keeping your funds on a exchange.
You have no control of you funds, you are basically praying that the exchange is honest and is not being hacked.
+ Plus you will not benefit from minting.

There have been so many security breaches the last 3 month:
Mt.Gox
Vircurex
Cryptorush
BIPS

To mention some..

You know the story about Mt.gox, but read theese:
https://bitcointalk.org/index.php?topic=49383.1060
https://bitcointalk.org/index.php?topic=431099.1020
https://bitcointalk.org/index.php?topic=252308.140

Personally - I only put small amount on the exchange always less than 0.5 worth of BTC, and always less than 1 hour.

Cryptography is one of the few things you can truly trust.
niothor
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April 15, 2014, 02:13:02 PM
 #13260

If I will put lot to sell to Cryptsy will I get POS coin to may account?

No absolutely not. You are running a huge risk by keeping your funds on a exchange.
You have no control of you funds, you are basically praying that the exchange is honest and is not being hacked.
+ Plus you will not benefit from minting.

There have been so many security breaches the last 3 month:
Mt.Gox
Vircurex
Cryptorush
BIPS

To mention some..

You know the story about Mt.gox, but read theese:
https://bitcointalk.org/index.php?topic=49383.1060
https://bitcointalk.org/index.php?topic=431099.1020
https://bitcointalk.org/index.php?topic=252308.140

Personally - I only put small amount on the exchange always less than 0.5 worth of BTC, and always less than 1 hour.

This.
Coins that are not in your wallet , are not your coins , you practically lend them based on trust.
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