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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1323979 times)
coolbeans94
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July 10, 2016, 03:38:19 PM
 #19541

It's strange how unlike with mining, a reward halving for minting can be so unpredictable.

The new supply will be lower, but buying coins to mint will be less effective and thus will be in less demand.

Hi. I don't think it is really that much, if any, different than mining. In fact, in all cases I consider it better than mining.

With mining, eventually your equipment wears out, with Mintcoins, they don't wear out. If you think about the Mintcoins themselves as being your mining gear (or minting gear, rather)...they are just as good and effective a year ago as today.

When the rate goes down to 5%, the supply will rise slower, but that does not change the effectiveness of minting coins. The only thing that changes is minters will get less coins, but the effectiveness of the minting process doesn't change. Since the value of each coin you mint is a function of the price per coin, then, supply going down and demand being constant, price should eventually begin to rise to offset the reward drop. As a result, instead of the mintcoin market generating 6 million coins per day at say $0.00007 each, = $420 value per day........ once equilibrium is reached, the price should rise to offset that.........say 3 million coins per day at $0.000140 each = $420 value per day, so the value of what you are minting stays the same. But keep in mind that the price change will probably not happen overnight. If the price doubles, that also means the value of all prior mined and minted coins double in value too! So what you can save away today, could pay off even more later. But there will be probably be profit takers along the way up too, so finding equilibrium could take a while....but it might not...there are a lot of other factors to consider such as, that the mintcoin market cap is relatively small compared to a coin like bitcoin so bigger moves can happen quickly, and for no apparent reason. So true value (coins generated x price) shouldn't change. But that doesn't mean it won't change.

Some people are attracted to high reward annual percentage rate (APR), others are attracted to prices moving up. I believe Mintcoin intends to find a balance of both worlds. Too high of a APR, and too many coins flood the market, causing price depression and instability, and nobody will want to hold the coins unless they are able to be staking/minting their coins, but not everyone can or will do this. Who wants to stake a worthless coin? And it is probably not fair to those who aren't interested in computers and minting, if they just want to collect a few coins but not stake/mint them, then their value of their coins will be devalued quickly over time. So we need less coins being added to the supply, to help keep prices up. But on the other-hand, too low of a APR is not good either, as it could create fungibility problems with too few coins in circulation to be of any use for trade, and too low of a rate, nobody will bother even staking/minting to securing the network, which is very important, or you don't have a coin at all!

So I believe Mintcoin will have the good balance of both worlds and that the prices should continue to steadily rise, and at 5% in a year, the minting is rewarding enough for those who put in the effort to do it, but not so high as to be unfair for people who don't mint/stake. We want our coins to hold value for all people, not just stakers/minters. Hopefully this will help create demand for MINT from all types of people.

This is the challenge of trying to make a perfect coin that pleases everybody, but I believe MINT comes pretty close.

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July 16, 2016, 11:48:53 AM
 #19542

Hi,
Quick chart - Weekly view.
I'm expecting a breakout of the trendline (white dashed line) with 42/47 sat as target.

https://www.tradingview.com/x/e0mh5YTb

Keep on minting Wink
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July 16, 2016, 09:19:07 PM
 #19543

Hi,
Quick chart - Weekly view.
I'm expecting a breakout of the trendline (white dashed line) with 42/47 sat as target.



Keep on minting Wink

I was not aware that TradingView had any Mintcoin charts... Thank you for bringing this to my attention.
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July 22, 2016, 02:34:59 PM
 #19544

What is the max supply cap of mintcoin?
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July 22, 2016, 08:46:09 PM
 #19545

What is the max supply cap of mintcoin?

Initially the max coins were around 70 billion during the POW phase.  However, due to the nature of POS, the max coins will always be based on the minting reward which keeps the network running.  Currently the minting rate is up to 10% of outstanding coins but will be up to 5% soon.

coolbeans has shown some stats in relation to actual users minting over time which may help answer your question...

https://www.reddit.com/r/MintCoin/comments/4om5kb/mintcoin_financial_and_statistical_analysis/
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July 24, 2016, 03:05:05 AM
 #19546

What is the development status for MINT? Does Mintcoin still have developers working on keeping it updated and improving it? As an investor, I would be interested to know how things are going. I think this coin is excellent and want to see it thrive.
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July 24, 2016, 03:23:17 AM
 #19547

What is the development status for MINT? Does Mintcoin still have developers working on keeping it updated and improving it? As an investor, I would be interested to know how things are going. I think this coin is excellent and want to see it thrive.

Yes development is still active, albeit slow going. Time constraints and real-life/family obligations amongst the team slow things down more than we would like, but such things are inevitable. We have reached a turning point (and a roadblock) with the 2.1 overhaul and are currently exploring multiple options to proceed.

We cannot give any kind of ETA at the moment, but we are planning on releasing a more detailed and in-depth statement regarding the update when our current hurdles are overcome.

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July 26, 2016, 02:06:33 PM
 #19548

What is the development status for MINT? Does Mintcoin still have developers working on keeping it updated and improving it? As an investor, I would be interested to know how things are going. I think this coin is excellent and want to see it thrive.

Yes development is still active, albeit slow going. Time constraints and real-life/family obligations amongst the team slow things down more than we would like, but such things are inevitable. We have reached a turning point (and a roadblock) with the 2.1 overhaul and are currently exploring multiple options to proceed.

We cannot give any kind of ETA at the moment, but we are planning on releasing a more detailed and in-depth statement regarding the update when our current hurdles are overcome.

Keep up the good work! The most important thing is long term dedication and not giving up. Steady plodding and diligence in your business does bring prosperity. I like to think of Mintcoin sort of like our business. We all have different abilities like trading, coding, marketing, teaching/educating, investing capital, etc. And we all need each other because to do all of it would be too much for 1 person. But I am and probably a lot of us here are planning to be with Mintcoin for the long run. I would even eventually like to pass on the gift of Mintcoin to future generations. Keep on Minting friends!

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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July 28, 2016, 08:35:10 PM
 #19549

Hey btw, does anyone know if the Bitcoin halving has happened yet?

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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July 28, 2016, 08:49:41 PM
 #19550

Hey btw, does anyone know if the Bitcoin halving has happened yet?


yes, it was happend

https://blockchain.info/block/000000000000000002cce816c0ab2c5c269cb081896b7dcb34b8422d6b74ffa1
scalvo98
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July 28, 2016, 10:33:32 PM
 #19551

hi, i have update the wallet from previous version to the 2.0.2 but now i can't connect with network.

Anyone cand write me a working config from .conf file please?


Thanks

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July 29, 2016, 03:02:20 AM
 #19552

hi, i have update the wallet from previous version to the 2.0.2 but now i can't connect with network.

Anyone cand write me a working config from .conf file please?


Thanks

Have you tried running your wallet for the day and just forgetting about it?  Depending on how much of the blockchain you already have downloaded, sometimes the wallet appears to be frozen or not connecting to peers.  I've found that the wallet usually resolves itself, finds connections, and downloads the blockchain if you give it some time.  If this does not work then a restart of the wallet can sometimes help.

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July 29, 2016, 03:56:49 AM
 #19553

I don't think you really even need a conf file. Mine doesn't even have one. I just open it up and let it sit for about a half hour to an hour and  the connection bars slowly start to fill up. I guess if you keep having issues can you be more specific what you did and how you updated it?

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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July 29, 2016, 04:44:32 PM
 #19554

I don't think you really even need a conf file. Mine doesn't even have one. I just open it up and let it sit for about a half hour to an hour and  the connection bars slowly start to fill up. I guess if you keep having issues can you be more specific what you did and how you updated it?

Syncronize is very slow, in 8 hours only 380k block on 2m250k blocks Sad

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July 30, 2016, 12:01:22 AM
 #19555

So you are getting connections? And are you syncing fom scratch? How old was your other wallet/client Version? There is also a bootstrap to speed things up.

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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July 30, 2016, 01:40:49 AM
 #19556

one old good coin . Need to buy some .But first need to wait price for 1 sat maybe low  Smiley

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coolbeans94
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Mintcoin: Get some


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July 31, 2016, 01:46:38 AM
 #19557

 Cheesy We'll see. MINT has been slowly up-trending vs Bitcoin and all other currencies for quite some time. You can check it out for yourself and look at all of the currency pairs on coingecko.

https://www.coingecko.com/en/chart/mintcoin/btc

There is definitely some volatility at times, but MINT is really holding it's value. And these charts are showing you where you would be at even if you just stored it away it in cold storage and never minted anything. Active minters gain even a little more than what these charts reflect.

(1.) Moral happiness depends upon moral order.
(2.) Moral order depends upon the harmonious action of all our powers, as
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August 01, 2016, 04:55:18 PM
 #19558

So you are getting connections? And are you syncing fom scratch? How old was your other wallet/client Version? There is also a bootstrap to speed things up.

Now it's synchronized and i can made transaction.

Thank you.

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August 02, 2016, 03:30:21 AM
 #19559

No problem.  Smiley

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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August 02, 2016, 03:56:47 AM
 #19560

people are speculating in the 2nd generation currency those days like ETH ETC LSK .....

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