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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1323979 times)
Fuzzbawls
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September 11, 2016, 06:03:29 PM
 #19721

Hey all,

I've been on vacation for the past week (announced on slack/IRC previously), and have been completely off the grid. I'm not quite back home yet but have been playing catch up on all the discussion outlets since I got back to civilization.

I've been thinking about doing some more UI updates to the 2.0 branch, not necessarily back ports from our pending 2.1 branch, but updates that would end up being done on both branches.

For the time being, I'm not really looking at a complete layout redesign, as any such redesign would have to be re-done again with the 2.1 branch, so trying to make the most efficient use of time.



Anyone that would like to contribute time/resources/code to the project is highly encouraged to join us in Slack for some more real-time discussion. http://mintcoin-slack.herokuapp.com

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titchbwfc
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September 11, 2016, 08:34:04 PM
 #19722

I fully synced my mint wallet 2 days ago and turned the wallet off
today I've had it running for 5 hrs and its still not caught up the 2 days of transactions....
It takes my litecoin wallet around 30 secs and my dodgecoin wallet around 5 min for the same period
is this normal ? is there a problem with the mintcoin network?
Fuzzbawls
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September 11, 2016, 08:46:53 PM
 #19723

I fully synced my mint wallet 2 days ago and turned the wallet off
today I've had it running for 5 hrs and its still not caught up the 2 days of transactions....
It takes my litecoin wallet around 30 secs and my dodgecoin wallet around 5 min for the same period
is this normal ? is there a problem with the mintcoin network?


No problem with the network. You have to remember that both litecoin and dogecoin have migrated to HDF syncing (ported from Bitcoin), as well as their network block generation times being much longer than MINT's.

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September 11, 2016, 09:19:45 PM
 #19724

I fully synced my mint wallet 2 days ago and turned the wallet off
today I've had it running for 5 hrs and its still not caught up the 2 days of transactions....
It takes my litecoin wallet around 30 secs and my dodgecoin wallet around 5 min for the same period
is this normal ? is there a problem with the mintcoin network?


No problem with the network. You have to remember that both litecoin and dogecoin have migrated to HDF syncing (ported from Bitcoin), as well as their network block generation times being much longer than MINT's.

I understand that but don't understand that without a bit of googling. Is something similar in the pipeline for mint ? As a new mintcoin holder it seems like a massive ball ache to have my wallet open for so long 
Fuzzbawls
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September 11, 2016, 11:23:04 PM
 #19725

I fully synced my mint wallet 2 days ago and turned the wallet off
today I've had it running for 5 hrs and its still not caught up the 2 days of transactions....
It takes my litecoin wallet around 30 secs and my dodgecoin wallet around 5 min for the same period
is this normal ? is there a problem with the mintcoin network?


No problem with the network. You have to remember that both litecoin and dogecoin have migrated to HDF syncing (ported from Bitcoin), as well as their network block generation times being much longer than MINT's.

I understand that but don't understand that without a bit of googling. Is something similar in the pipeline for mint ? As a new mintcoin holder it seems like a massive ball ache to have my wallet open for so long 

Something is in the works, but I will say now that the HDF implementation that BTC/LTC/DOGE use is NOT compatible with MINT's blockchain. That is the primary technical hurdle we're facing at the moment.

I would love to elaborate more on the nitty-gritty details, but we don't have a clear path laid out yet, as we have been exploring a number of different options; each with their merits and drawbacks.

MintyAllDay
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September 11, 2016, 11:29:45 PM
 #19726

I fully synced my mint wallet 2 days ago and turned the wallet off
today I've had it running for 5 hrs and its still not caught up the 2 days of transactions....
It takes my litecoin wallet around 30 secs and my dodgecoin wallet around 5 min for the same period
is this normal ? is there a problem with the mintcoin network?


You may want to consider that the act of minting actually involves leaving your wallet open on the network for rewards.  You wouldn't stake with litecoin or doge so it would be unlikely you would leave your wallet running once the full blockchain is downloaded.  Step away from the running wallet, enjoy some fresh air or some mint flavored gum, return to minted coins.  Smiley

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greenmo
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September 12, 2016, 02:08:08 AM
 #19727

No problem with the network. You have to remember that both litecoin and dogecoin have migrated to HDF syncing (ported from Bitcoin), as well as their network block generation times being much longer than MINT's.

HDF syncing = HeaDers First syncing?

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September 12, 2016, 02:20:46 AM
 #19728

No problem with the network. You have to remember that both litecoin and dogecoin have migrated to HDF syncing (ported from Bitcoin), as well as their network block generation times being much longer than MINT's.

HDF syncing = HeaDers First syncing?

Yep. Traditional network syncing uses only one peer to sync from, so the speed of syncing is limited by the network bandwidth of both peers. HDF syncing uses ALL available peers to sync from, meaning that the syncing client is realistically only restricted by it's own bandwidth.

Also, HDF syncing uses far less data to verify each block versus traditional syncing.

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September 12, 2016, 03:15:10 PM
 #19729

I fully synced my mint wallet 2 days ago and turned the wallet off
today I've had it running for 5 hrs and its still not caught up the 2 days of transactions....
It takes my litecoin wallet around 30 secs and my dodgecoin wallet around 5 min for the same period
is this normal ? is there a problem with the mintcoin network?


You may want to consider that the act of minting actually involves leaving your wallet open on the network for rewards.  You wouldn't stake with litecoin or doge so it would be unlikely you would leave your wallet running once the full blockchain is downloaded.  Step away from the running wallet, enjoy some fresh air or some mint flavored gum, return to minted coins.  Smiley

not had my coins long enough to stake yet and a little confused how the staking works do you have your wallet running all the time to mint?
or can you open it sync and close after 30 mins or so?
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September 12, 2016, 03:45:34 PM
 #19730

not had my coins long enough to stake yet and a little confused how the staking works do you have your wallet running all the time to mint?
or can you open it sync and close after 30 mins or so?

Minting happens when you already have the full blockchain downloaded, your wallet is unlocked (for minting only), and you leave it running.  Coins mature after 20 days and are ready to mint but compete with other users on the network.  Coin age and weight are important factors in minting.  You'll see newly minted transactions come into your wallet which take 50 confirmations to solidify.  Generally, if you don't want to mess with the wallet much but you want to stake, you can open your wallet once a month to download the blockchain and earn rewards.  Minting is not required but how else will you STAY FRESH.  Wink

[EDIT] Forgot to mention orphans.  If you see minted transactions come in which turn to question marks it just means that another user on the network was "ahead of you in the line".  In these cases you can either let your wallet run and ride it out, or try minting another time when there isn't so much competition on the network.

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Wexfgy12
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September 12, 2016, 09:01:28 PM
 #19731

What are the main uses cases for this coin / differentiates it from others other than the interest?

Thanks
MintyAllDay
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September 12, 2016, 10:01:36 PM
 #19732

What are the main uses cases for this coin / differentiates it from others other than the interest?

Thanks

At almost 3 years strong, mintcoin's quick 30 second block times allow for speedy transactions.  POS allows for energy and cost savings as opposed to POW.  

The friendly and inviting mint community maintain the coin without IPO funds, crowd sales, or expectations of profit.  
Mintcoin has a tradition of charitable giving to earth friendly charities.  While there is not a particular campaign running at the moment, we expect launch a new campaign in the future which sets new levels of transparency in charitable giving.  

The mintcoin team has progressed thru multiple devs and 3 phases of community leaders and has continued to flourish despite multiple re-structures.  The team is transparent and available.  Anyone is welcome to join and contribute.  Be minty fresh.  Smiley

Twitter @MintyAllDay
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liveandletlive77
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September 12, 2016, 11:01:16 PM
 #19733

I can sync about 20 days worth of blocks (about ~58,000 blocks) in less than a day, usually a few hours. Turn it on, leave it running overnight while you sleep, wake up to minted coins. Repeat after 20 days or so. Seems to work good for me. Sometimes I'll leave it running for many days though because minting keep coming in.

Remember, if you do the math to divide it out, for every 175,000 mintcoins you own = equivalent of minting 1 Mintcoin per hour, 24 hours a day at 5% rate. Right now the rate is 10% though so it's double. It is like mining, but it's energy efficient minting your investment doesn't break or run out of mining ability. The minting ability keeps going as long as you keep minting.  Kiss
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September 13, 2016, 01:20:48 AM
 #19734

Finally got wallet sync and the coins mint pretty fast that's for sure...but sync is very slow that's for sure took almost 3 weeks to sync it..

 glad to jump in to mintcoin...
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September 13, 2016, 01:51:10 AM
 #19735

Livecoin Exchange: Voting

We choose coins from this list in accordance with different factors such as number of votes, complexity of implementation etc. We focus our attention on coins from the TOP 3 of the list.

You can vote for FREE once every 30 days if your account is active. We consider an account active if any amount of funds (or cryptocurrency) was credited at least once.



MINT has just been added to Livecoin's Voting list

Register, Login and find voting tab to vote for MINT. To activate your account for voting, you must make a small deposit of any kind (for example: 2 DOGE). Re-vote every 30 days. You can also pay votes if you desire.

https://www.livecoin.net/en/site/login

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September 13, 2016, 03:21:01 PM
 #19736

I can sync about 20 days worth of blocks (about ~58,000 blocks) in less than a day, usually a few hours. Turn it on, leave it running overnight while you sleep, wake up to minted coins. Repeat after 20 days or so. Seems to work good for me. Sometimes I'll leave it running for many days though because minting keep coming in.

Remember, if you do the math to divide it out, for every 175,000 mintcoins you own = equivalent of minting 1 Mintcoin per hour, 24 hours a day at 5% rate. Right now the rate is 10% though so it's double. It is like mining, but it's energy efficient minting your investment doesn't break or run out of mining ability. The minting ability keeps going as long as you keep minting.  Kiss

still baffles me lol do you only mint coins when the wallets open and minting.. a kind of lottery for those people online and helping the network
or can you just open up your wallet once every few days and be allocated coins your owed through having them in your wallet( kind of interest payment)
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September 13, 2016, 05:26:05 PM
 #19737

Depends how many coins you have. age of coins needs 20 days, after 20 days unlock your wallet and keep it open until they stake. depends how many coins you have but it can take a long time depending on the size

 
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September 13, 2016, 05:32:48 PM
 #19738

I can sync about 20 days worth of blocks (about ~58,000 blocks) in less than a day, usually a few hours. Turn it on, leave it running overnight while you sleep, wake up to minted coins. Repeat after 20 days or so. Seems to work good for me. Sometimes I'll leave it running for many days though because minting keep coming in.

Remember, if you do the math to divide it out, for every 175,000 mintcoins you own = equivalent of minting 1 Mintcoin per hour, 24 hours a day at 5% rate. Right now the rate is 10% though so it's double. It is like mining, but it's energy efficient minting your investment doesn't break or run out of mining ability. The minting ability keeps going as long as you keep minting.  Kiss

still baffles me lol do you only mint coins when the wallets open and minting.. a kind of lottery for those people online and helping the network
or can you just open up your wallet once every few days and be allocated coins your owed through having them in your wallet( kind of interest payment)


Hi titchbwfc,

It's alright, it can take time to understand, but we are here to help.

It is a little bit of both. It is sort of a hybrid between total lottery, and timing of when you know to might be able to mint.
You have to have your wallet online and synced in order to start minting but the minting cycle for MINT is 20 days, meaning if you just minted today, you will have to wait another 20 days before you can re-mint those same coins. Every 20 days, the same coins will be eligible again for minting, plus whatever coins you minted previously. The term to describe coins that are trying to mint for you are called "mature". Mature coins are coins that have not been spent from the same address on your wallet for over 20 days. Once your coins get to 20 days, when your wallet is open it will tell you in the bottom right hand side you have mature coins and they will try to get accepted on the network based upon your coin weight. Coin weight is determined by how many coins you have on an address * "coin days" which is simply how long they have been sitting in your wallet since the last minting. There is no guarantee you will be the one to stake the next block and get a minting if you wallet is open. If you want to increase your likely-hood and speed of minting, after 20 days, then stack more coins onto 1 address in your wallet. This will increase your coin weight. For example, if you have just like 100 MINT, you probably will not mint anything even after 20 days, but if you have 2 million, then you definitely will. Your quantity of coins is like buying more lottery tickets. If you buy 2 million lottery tickets your going to have a better likely-hood of winning than only 100. I know some people in the past have minted with a balance of 2000 mintcoins or less, but that tends to be not consistent.
If you think of it this way, then there is essentially a lottery drawing every 30 seconds (every block). So if you didn't win, your coins will re-try again 30 seconds later. You will have 30 seconds more time added to your coin weight multiplier, so you have even higher coin weight to try win the next block. The reason why Mintcoin has a 20 day minting cycle (waiting period), is to prevent someone with a really high coin balance from just re-staking over and over and over again and hogging all the mintings and nobody else would ever win the block lottery. Many other POS (proof of stake) coins are set up with very short minimum cycles (like 1 day or 4 hours or something, and they have longer block times, which translates to less chances to win). We consider very short minting/staking cycles to be unfair, deceptive, and a scam to those who don't understand how POS coins work. Mintcoin has 20 days * 30 second blocks, which = 57600 chances to win in every 20 day cycle. So once your coins become mature, you can leave your wallet online for the next 20 days straight, to try to win, as any winners will have to wait another 20 days before they could compete against you again.
 
If you stack your coins to a decently big size balance (maybe 2,000,000) and time it by watching your calendar after you minted you can turn your wallet off for a while and then turn it back on after 20 days or so when you know your cycle is coming up and will have a high likelyhood of winning a minting block. That is probably what liveandletlive77 is talking about doing. But just know it is better for the network if we always have people with their wallets connected and synced and we need people to be minting every 30 seconds to keep the network blocks going; so we need minting winners 57600 times in every 20 days just to keep the MINT network running smoothly. This is just to say, don't everybody all go and do this type of thing at once. We need committed nodes, and minters who will like to be online all the time. Also, if you leave your wallet on constantly for minting, it will mint at the soonest possible moment, and you can take advantage of compounding.

Another thing to mention is if you were to leave your wallet off for like 6 months and come back and sync it, MINT keeps track of that time and will pay you a higher reward, but you will have lost out on compounded minting from previous cycle periods. If you only mint 2 times per year, you will mint less than if you minted once per month and minted coins from each month will begin minting more coins too.

 Roll Eyes Let us know if you have anymore questions.  Smiley

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September 17, 2016, 02:24:15 AM
 #19739



Anyone know who or how to contact Bter to have them get updated information?

The website link is to mintcoin.cc which is not the correct website.

I think the wallet link is to the wrong Github.

Max coins is wrong.

It doesn't show the release date information. Should say, Feb 6 2014

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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September 17, 2016, 05:20:25 AM
 #19740

Anyone know who or how to contact Bter to have them get updated information?

I'm sending a few other emails out to services regarding info and updates etc.  I'll add Bter to my list for this weekend.  Smiley

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