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

[sambiohazard]

I've spent most of my time overhauling the GUI interface. This past week was spent ironing out the syncing/connection issues and making sure that is stable as well as working towards the removal of orphan blocks in user's local wallets.

Last night a crash issue was reported regarding the importing of wallets so I spent some time looking into that. And now...well...now i'm out of beer

I will try to get some beer for you by this weekend. I am having lots of power cuts & internet outage this so my mining income is all too shitty. I hope someone else can donate some beers till then.

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[JohnSmithy]

From my standpoint the cpu and ram usage of mintcoin are too high, i have a sub-average computer however.

30-50% cpu usage of a dual core and 700 MB on a 3 GB physical ram system (while regularly using up to 1.5 GB virtual ram, which gives massive lag when it is being assigned).

[Derek492]

Lot of talk about RAM usage going on. While I do agree that it can become an issue down the road, it isn't as "game breaking" as the excessive CPU usage currently present in MINT. RAM, much like HD space, is a fairly inexpensive thing to acquire more of (with certain limits obviously). But processor inefficiency is a killer in that end users can't just add more CPU power to their computers.

I agree, but if you are not mining on CPU or running other CPU intensive apps then Mint uses only 9-10% of a i5 quad core which is manageable, although it would be really nice to have it reduced. Also RAM can be upgraded but it will become an issue for adoption, a skeptic/cautious user would ditch something that uses RAM in GBs as opposed to bitcoin that only uses something like 200-400 MB. When competing in field of 10s of good altcoins these inefficiencies will pull us down.

Mint PoS currently uses scrypt algorithm,
https://en.wikipedia.org/wiki/Scrypt
to have a permanent lower CPU & memory usage, would require switching to another algorithm .

  

But changing algorithm doesn't change anything long-term, does it? Eventually the RAM keeps rising?. I think there is some degree of benefit using scypt.

[Derek492]

On a side note, is everything ready to go as far as the block reward reduction coming up? Last yea, the drop from 20% to 15% resulted in the network freezing. Is that expected to happen again? According to my calculations we only have about 1-2 months until the drop to 10%.

[kiklo]

But changing algorithm doesn't change anything long-term, does it? Eventually the RAM keeps rising?. I think there is some degree of benefit using scypt.

Ram will keep rising , however scrypt was designed for the memory requirements to grow faster than other algos , originally to keeps asics from being able to mine it.  
https://bitcointalk.org/index.php?topic=213872.0

If the goal is to run mint on low powered devices , then groestl algo is a better choice.
If low powered devices are not a concern stay with scrypt as it is more widely used.


 


FYI:
If someone gets a genesis block system working, it would keep the memory requirements lower.
Basically every 6 months worth of blocks , a new genesis block is created which has all of the account balances, that way new blockchains are never older than 6 months, keeping the memory requirements down and speeding up install for new users.
Only other option is to change block speed after a chain swap takes place.
Where Mint & Hobo take forever to sync after being off for a few days, Sprouts sync in seconds since they have a 2.5 minute block speed verses a 30 second block.

[Derek492]

But changing algorithm doesn't change anything long-term, does it? Eventually the RAM keeps rising?. I think there is some degree of benefit using scypt.

Ram will keep rising , however scrypt was designed for the memory requirements to grow faster than other algos , originally to keeps asics from being able to mine it.  
https://bitcointalk.org/index.php?topic=213872.0

If the goal is to run mint on low powered devices , then groestl algo is a better choice.
If low powered devices are not a concern stay with scrypt as it is more widely used.


 


FYI:
If someone gets a genesis block system working, it would keep the memory requirements lower.
Basically every 6 months worth of blocks , a new genesis block is created which has all of the account balances, that way new blockchains are never older than 6 months, keeping the memory requirements down and speeding up install for new users.
Only other option is to change block speed after a chain swap takes place.
Where Mint & Hobo take forever to sync after being off for a few days, Sprouts sync in seconds since they have a 2.5 minute block speed verses a 30 second block.

We have already decided to keep the faster block time. I think the idea of a new Genesis block the way you describe sounds good. How hard would that be to implement? It would have to be generated from a timestamp of say 1000 blocks in the past though right? Long enough to ensure chain consensus and such. Is that how it works?

[kiklo]

We have already decided to keep the faster block time. I think the idea of a new Genesis block the way you describe sounds good. How hard would that be to implement? It would have to be generated from a timestamp of say 1000 blocks in the past though right? Long enough to ensure chain consensus and such. Is that how it works?

In theory ,
yes it would have to be generated far enough back that their is no issue of consensus,
So after 1000 blocks it would become Block 0 of a new block chain, for anyone downloading a new wallet.

Implementation difficulty and precise details, the devs will have to answer once they explore it.  


 

FYI:
A running Genesis block that cuts off the old section of blockchain is still theory, so whoever designs it will be the 1st.

[someguy4]

What would be in this genesis block, all the coin values/ages that the previous blocks amounted to?

[kiklo]

What would be in this genesis block, all the coin values/ages that the previous blocks amounted to?

That and more, but the devs will have to answer if anything like it is possible at this stage of crypto development.  If not that just leaves a chain swap and block time and algo change to fix the memory/cpu issues which would be easier to implement.

 

[someguy4]

If that could be done, then surely a better alternative would be to have a wallet that does that automatically by creating a running "genesis block" and keeping it say 6 months (or less) behind while retaining the last 6 months of blocks.

[kiklo]

If that could be done, then surely a better alternative would be to have a wallet that does that automatically by creating a running "genesis block" and keeping it say 6 months (or less) behind while retaining the last 6 months of blocks.

No argument there, a running Genesis block would solve blockchain bloat issue for everyone.


 

[Flyskyhigh]

If that could be done, then surely a better alternative would be to have a wallet that does that automatically by creating a running "genesis block" and keeping it say 6 months (or less) behind while retaining the last 6 months of blocks.

This is basically block-chain trimming, right? I am not a programmer, but I am a conceptualizer.

If I understand this, it would have to be set up so that it would be created every so many blocks... Like every 1-million blocks. So when the 1,000,001 block arrives it has code that automatically pulls in the information required. Then after 1,000 more blocks go by, the 1,000,001 block becomes block 1.  Is this possible to implement? We just need someone who can code it. I really think we should do this if possible. All problems would be solved.  

[cryptomommy]

#MintcoinOfficial IRC Stats Now Available:
http://ircstats.mintcoinofficial.com/

[fonzerrellie]

so whats the issue with cryptsy??

my wallet starts up begins sync'n right away... I haven't had any issues since the latest update

just bought a bunch more and was hope'n to start minting them asap

[Fuzzbawls]

so whats the issue with cryptsy??

my wallet starts up begins sync'n right away... I haven't had any issues since the latest update

just bought a bunch more and was hope'n to start minting them asap

I have sent a ticket to Cryptsy requesting information and details as to why their MINT wallet has been in maintenance mode for such an extended period of time. Waiting to hear back from them now...

[Tubularwindow]

What about some other exchanges?

[Ghepetto]

so whats the issue with cryptsy??

my wallet starts up begins sync'n right away... I haven't had any issues since the latest update

just bought a bunch more and was hope'n to start minting them asap

I have sent a ticket to Cryptsy requesting information and details as to why their MINT wallet has been in maintenance mode for such an extended period of time. Waiting to hear back from them now...

Stake ---->   Dump on market   ---->   open withdraws   ---->  put wallet in maintenance  ---->   stake  ----->  dump on market           

wash, rinse, repeat

[fonzerrellie]

What about some other exchanges?

I haven't checked in a while cause I never use it but aren't we on bluetrade as well?

[Ricklosti]

What about South X Change? https://www.southxchange.com/

Anyone used them before?

[coolbeans94]

What about South X Change? https://www.southxchange.com/

Anyone used them before?

Yep. I have used them. Works good. Had no issues so far. I would say it works at least as good if not better, than Cryptsy. Speedy withdrawals. Got mintcoins within seconds after email confirmation. You can also do 2 factor authentication. The only thing that is different, is the order books are switched around so that can take some getting used to.
It would be nice to get more volume on there, and support exchanges that support MINT. Maybe give them a try next time. I just put up a link for it on reddit to get more awareness too. Also, I put a description on the sidebar, and notification about Cryptsy being down for maintenance.


Keep on Minting my friends   Stay Fresh!