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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1311144 times)
sambiohazard
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June 09, 2015, 06:47:08 AM
 #17841

I think we need to move to POS 2.0 as soon as we find a developer. It will help with the staking as you will only earn interest if you have your wallet online all the time. Right now we have 2-3% staking with occasional spikes to 10-15% when people open wallets to earn their coins. This is bad for n/w security. You can fork the chain with only 5% of coins staking.
Haven't had any issues so far...

The 2-3% staking is just because not everyone can mint all the time. You have to wait 20 days, which is actually really good for security.  I wouldn't change it unless there is a proven flaw. The other thing is that, if some had enough to do that it would be irrational to attempt. It pays to secure the network. Also, you already have to be online to mint.

Its not about issues with minting. The problem is when there is only 2-3% mint staking, it is like having very little hashrate with POW. If anyone can get more mint that 2-3% and start staking with considerable weight, not only is there a chance of forking the chain but to mount a 51% like attack if you gain enough weight. These concerns were raised with Blackcoin & Vericoin when some people hacked an exchange and stole a big percent of coins. They could have potentially used it to attack the network. When your wallet is online, even if you are not generating blocks, total network weight is higher and it is hard to attack/fork the network. It is like mining, more miners there are the better, even if not everyone is generating blocks. Right now people are getting rewards even if they are not securing the network. They just come online every 20 days to get rewards. This was one of the design flaw with original POS which assumed people will be honest, but you have to force them to be honest unfortunately Sad . Read the POS 2.0 whitepaper here.

http://blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf

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June 09, 2015, 06:52:41 AM
 #17842

I also believe that we need POS 2.0.

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June 09, 2015, 01:38:40 PM
 #17843

I also believe that we need POS 2.0.

me three,
 POS 2.0 is the only solution.





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cryptomommy
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June 09, 2015, 02:01:40 PM
 #17844

I also believe that we need POS 2.0.

me three,
 POS 2.0 is the only solution.





If we can get a general consensus across the community I am sure I can have a programmer implement relatively soon.  This is a community coin - but there needs to be a 100% agreement on it.
sambiohazard
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June 09, 2015, 02:17:01 PM
 #17845

I also believe that we need POS 2.0.

me three,
 POS 2.0 is the only solution.





If we can get a general consensus across the community I am sure I can have a programmer implement relatively soon.  This is a community coin - but there needs to be a 100% agreement on it.
Lets do a poll with reasons explained for upgrading to POS 2.0.

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cryptomommy
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June 09, 2015, 04:27:10 PM
 #17846

I also believe that we need POS 2.0.

me three,
 POS 2.0 is the only solution.





If we can get a general consensus across the community I am sure I can have a programmer implement relatively soon.  This is a community coin - but there needs to be a 100% agreement on it.
Lets do a poll with reasons explained for upgrading to POS 2.0.

https://www.surveymonkey.com/
Interested in putting together a survey? I will feature it if you put it together?
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June 09, 2015, 04:38:11 PM
 #17847

I vote for best security available no matter what form it takes Wink
sambiohazard
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June 09, 2015, 04:52:43 PM
 #17848

I also believe that we need POS 2.0.

me three,
 POS 2.0 is the only solution.





If we can get a general consensus across the community I am sure I can have a programmer implement relatively soon.  This is a community coin - but there needs to be a 100% agreement on it.
Lets do a poll with reasons explained for upgrading to POS 2.0.

https://www.surveymonkey.com/
Interested in putting together a survey? I will feature it if you put it together?

I think it is a simple yes/no question. We can just do a poll on this thread (Like here https://bitcointalk.org/index.php?topic=1019681.0). Just copy paste this as a question.

Should we move to POS 2.0. It fixes some flaws & network vulnerabilities with current staking. With new version you have to remain online all the time to stake your coins. For more info please read this very simple 2 page whitepaper on POS 2.0

http://blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf

  • Yes
  • No

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ShapeShift.io
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June 09, 2015, 05:30:34 PM
 #17849

ShapeShift.io has released the first-ever cryptocurrency exchange app for iPhone. Buy or sell Mintcoin instantly and on-the-go with the ShapeShift App.

Download the app: http://apple.co/1FU6Njm

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NOTE: ShapeShift will be adding their Android app soon. Stay tuned!


ShapeShift.io - Instant Digital Asset Conversion/币币兑换
kiklo
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June 09, 2015, 07:52:34 PM
 #17850

I think it is a simple yes/no question. We can just do a poll on this thread (Like here https://bitcointalk.org/index.php?topic=1019681.0). Just copy paste this as a question.

Should we move to POS 2.0. It fixes some flaws & network vulnerabilities with current staking. With new version you have to remain online all the time to stake your coins. For more info please read this very simple 2 page whitepaper on POS 2.0

http://blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf

  • Yes
  • No

FYI ,
Issues to be aware of currently it is 20 days before a stake can occur,
switching to PoS 2 means that time interval needs to be dramatically lower , as some people ISP may not be reliable and able to keep them on for that amount of time.
Blackcoin Minimum stake age: 8 hours
So a new Minimum stake age will also need to be decided for mint.
2 hours or 4 hours or 8 hours


 Cool
Derek492
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June 09, 2015, 09:22:45 PM
 #17851

I think it is a simple yes/no question. We can just do a poll on this thread (Like here https://bitcointalk.org/index.php?topic=1019681.0). Just copy paste this as a question.

Should we move to POS 2.0. It fixes some flaws & network vulnerabilities with current staking. With new version you have to remain online all the time to stake your coins. For more info please read this very simple 2 page whitepaper on POS 2.0

http://blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf

  • Yes
  • No

FYI ,
Issues to be aware of currently it is 20 days before a stake can occur,
switching to PoS 2 means that time interval needs to be dramatically lower , as some people ISP may not be reliable and able to keep them on for that amount of time.
Blackcoin Minimum stake age: 8 hours
So a new Minimum stake age will also need to be decided for mint.
2 hours or 4 hours or 8 hours


 Cool
No

Reducing minimum stake age is a clever way to make it so only the top addresses do all the staking... Blackcoin has always been a scam and they are making it even more "scammy".

Mintcoin was released first, a few weeks before it, and they always try to take all the credit of being the first coin of it's kind. Fact is they were originally a mintcoin clone.

Anyway, the whole issue is a non-issue. No attack like is being theorized has ever happened to Mint, and this sounds like scaremongering a problem that has not been proven to exist except in theory. No one has been able to pull it off... The fact is Mintcoin works. It is fair. Not scammy. Trying to create theoretical problem that doesn't exist as an excuse to change the coin.

Unless someone is successful against attacking Mintcoin, there is no need for a fix. IMO
 
Don't make decisions on emotion... Out of fear, etc.

Stop Mining.   Start Minting.   Mintcoin  [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
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June 09, 2015, 10:25:23 PM
 #17852

Maybe the fact that Mintcoin has no developer is actually a good thing because nobody can f-#k with it!

LMAO! I mean seriously, only half joking.

 Look around at all the chaos developers are bringing to Bitcoin right now. Maybe there is some wisdom in just letting a coin be.
Newsflash! Read all about it!
Mintcoin skyrockets because ...it has no developer that can f-#k it up!  Hip hip horaaay! Lol.

Sick of mining?  Start minting!  5% per year!  Mintcoin "MINT"
DougB62
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June 09, 2015, 11:01:49 PM
 #17853

Maybe the fact that Mintcoin has no developer is actually a good thing because nobody can f-#k with it!

LMAO! I mean seriously, only half joking.

 Look around at all the chaos developers are bringing to Bitcoin right now. Maybe there is some wisdom in just letting a coin be.
Newsflash! Read all about it!
Mintcoin skyrockets because ...it has no developer that can f-#k it up!  Hip hip horaaay! Lol.

That's a really good point! And I have to agree that there are no current issues with Mint as it is. Change is neither needed, or warranted at this time.
Testing Crypto
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June 09, 2015, 11:06:47 PM
 #17854

I think it is a simple yes/no question. We can just do a poll on this thread (Like here https://bitcointalk.org/index.php?topic=1019681.0). Just copy paste this as a question.

Should we move to POS 2.0. It fixes some flaws & network vulnerabilities with current staking. With new version you have to remain online all the time to stake your coins. For more info please read this very simple 2 page whitepaper on POS 2.0

http://blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdf

  • Yes
  • No

FYI ,
Issues to be aware of currently it is 20 days before a stake can occur,
switching to PoS 2 means that time interval needs to be dramatically lower , as some people ISP may not be reliable and able to keep them on for that amount of time.
Blackcoin Minimum stake age: 8 hours
So a new Minimum stake age will also need to be decided for mint.
2 hours or 4 hours or 8 hours


 Cool
No

Reducing minimum stake age is a clever way to make it so only the top addresses do all the staking... Blackcoin has always been a scam and they are making it even more "scammy".

Mintcoin was released first, a few weeks before it, and they always try to take all the credit of being the first coin of it's kind. Fact is they were originally a mintcoin clone.

Anyway, the whole issue is a non-issue. No attack like is being theorized has ever happened to Mint, and this sounds like scaremongering a problem that has not been proven to exist except in theory. No one has been able to pull it off... The fact is Mintcoin works. It is fair. Not scammy. Trying to create theoretical problem that doesn't exist as an excuse to change the coin.

Unless someone is successful against attacking Mintcoin, there is no need for a fix. IMO

Don't make decisions on emotion... Out of fear, etc.

This ^

No (my vote), if anything make it a full month.

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mintcointeam
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June 09, 2015, 11:32:35 PM
 #17855

Maybe the fact that Mintcoin has no developer is actually a good thing because nobody can f-#k with it!

LMAO! I mean seriously, only half joking.

 Look around at all the chaos developers are bringing to Bitcoin right now. Maybe there is some wisdom in just letting a coin be.
Newsflash! Read all about it!
Mintcoin skyrockets because ...it has no developer that can f-#k it up!  Hip hip horaaay! Lol.

lol I would still like to have a wallet audit and continue to work on a few performance issues with the wallet startup as well as exchange integration eventually but yes I agree the core foundation of mintcoin is rock solid in my opinion. I have head this concern before regarding the security of Mintcoin which is why I am open for a vote on it.
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June 10, 2015, 12:02:32 AM
 #17856

i hope the price will go down ))
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June 10, 2015, 12:30:05 AM
 #17857

Maybe the fact that Mintcoin has no developer is actually a good thing because nobody can f-#k with it!

LMAO! I mean seriously, only half joking.

 Look around at all the chaos developers are bringing to Bitcoin right now. Maybe there is some wisdom in just letting a coin be.
Newsflash! Read all about it!
Mintcoin skyrockets because ...it has no developer that can f-#k it up!  Hip hip horaaay! Lol.

Can you keep hyping this? I like the price moving like this.
DougB62
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June 10, 2015, 12:32:32 AM
 #17858

Maybe the fact that Mintcoin has no developer is actually a good thing because nobody can f-#k with it!

LMAO! I mean seriously, only half joking.

 Look around at all the chaos developers are bringing to Bitcoin right now. Maybe there is some wisdom in just letting a coin be.
Newsflash! Read all about it!
Mintcoin skyrockets because ...it has no developer that can f-#k it up!  Hip hip horaaay! Lol.

Can you keep hyping this? I like the price moving like this.

Yes - That was great! Now I need the price to drop, so I can buy back in!  Wink
Flyskyhigh
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June 10, 2015, 01:03:33 AM
 #17859

Maybe the fact that Mintcoin has no developer is actually a good thing because nobody can f-#k with it!

LMAO! I mean seriously, only half joking.

 Look around at all the chaos developers are bringing to Bitcoin right now. Maybe there is some wisdom in just letting a coin be.
Newsflash! Read all about it!
Mintcoin skyrockets because ...it has no developer that can f-#k it up!  Hip hip horaaay! Lol.

Can you keep hyping this? I like the price moving like this.

Yes - That was great! Now I need the price to drop, so I can buy back in!  Wink
Lol!  It could go up a lot.  Cheesy Developer or not, MINT definitely deserves to be in the 10, at least, IMO.

Regarding security, Mintcoin is similar to Peercoin (which has done fine security wise) with the additional benefit that MINT is 100% full PoS now. The greater security risk is in PoW because the mining game is already so saturated. Mining a new coin nowadays is never going to have a fair distribution because of mining monopolies. Mintcoin was mineable with Scrypt back when things were "fairer" and made the switch before the ASICs hit the market..Now, with the full PoS, it requires you to directly invest in the coin in order to have that kind of weight. Staking weight is unique weight, vs mining gear that can be used on any other coin. That is the brilliance of PoS. The stake you have is what helps ensure security. If you don't trust it, don't invest in it. Obviously some people really trust this method. Roll Eyes

Sick of mining?  Start minting!  5% per year!  Mintcoin "MINT"
Testing Crypto
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June 10, 2015, 01:59:41 AM
 #17860

A wallet audit & new UI update would be a +, can we update the OP with the Mint Linux donation address (making sure to put not affiliated, but supports?). As that is one great way to show support, without having to send big amounts & being able to send even 1 sat worth might be a great help to the Linux team in the future  Wink

The OP is still in major need of updates as well (all old donation links), the updates I have made are amateur at best (though most say that graphics are over rated, though many over a year have well build designs) & could be updated?

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