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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1293348 times)
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January 08, 2017, 06:34:12 AM
 #19881

I have a question about the Mintcoin difficulty . I am looking at this http://www.fuzzbawls.pw/explore/MintCoin/ and where it says Difficulty: PoS: 0.22451874

I know PoS stands for proof of stake, but how is PoS difficulty different than PoW difficulty? How is this calculation made?  What is it's importance, and what is a good number/level for PoS difficulty to be at?
it is based on the amount of people running wallets with balances, earning interest
In general, I understand that. I was hoping for more details to understand it better.

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January 08, 2017, 07:04:05 AM
 #19882

I have a question about the Mintcoin difficulty . I am looking at this http://www.fuzzbawls.pw/explore/MintCoin/ and where it says Difficulty: PoS: 0.22451874

I know PoS stands for proof of stake, but how is PoS difficulty different than PoW difficulty? How is this calculation made?  What is it's importance, and what is a good number/level for PoS difficulty to be at?
it is based on the amount of people running wallets with balances, earning interest
In general, I understand that. I was hoping for more details to understand it better.


PoW Difficulty
Difficulty is a measure of how difficult it is to find a hash below a given target.

PoS Difficulty
Difficulty is a measure of how difficult it is to Stake a Block of Coins below a given target.

Target is the BlockSpeed,
for BTC it is 10 minutes,
for Mint it is 30 Seconds,


If you want an more in-dept explanation , this link had more info  https://github.com/novacoin-project/novacoin/wiki/Proof-of-stake
Quote

Proof-of-stake is term referring to the use of currency itself (ownership) to achieve certain goals. In the NovaCoin proof-of-stake is used to provide mining and transaction processing on a par with proof-of-work.

Novacoin uses the mixed Coin-Age/CoinDayWeight approach to provide proofs of the stake. The proof-of-stake difficulty is adjusted so as to limit the rate at which new blocks can be generated by the network to 10 minutes target spacing rate. Due to the very low probability of successful proof generation, this makes it unpredictable which computer in the network will be able to generate the next solution.
How it's supposed to work?

It's performed through scanning all available inputs in order to find lucky one that satisfies following condition:

SHA256(SHA256(KERNEL)) < CoinDayWeight *  NetworkTarget

Miner has to find a SHA256 hash that is under the target value. Target is derived from network target using CoinDayWeight parameter. The proof is presented by kernel hash and header signature. Each coinstake kernel represented by structure of 6 fields, a some of this fields could be varied pretty freely.
Field    Type    sizeof    Requirements
nStakeModifier    unsigned long int    8    Shouldn't be modified manually.
nTimeBlockFrom    unsigned int    4    Timestamp for block which provided previous transaction.
nTxPrevOffset    unsigned int    4    Offset of previous transaction inside the block.
nTxPrevTime    unsigned int    4    Timestamp of previous transaction.
nPrevoutNum    unsigned int    4    Output number of previous transaction.
nTimeTx    unsigned int    4    Current timestamp.

The hashing result of a valid proof-of-stake value must be lower than block target. Miner tries to find this suitable solution by scanning all available unspent inputs with suitable CoinDayWeight.
How long will it take me to generate a proof-of-stake?

Just like with proof-of-work, no-one can say exactly. But there is an estimation of how long it might take. Calculations are quite similar with proof-of-work, but instead of hash we have coin-day-second here. So, at difficulty 1.0 we need ~ 4294967297 coin-day-seconds to find a block.

Probability of successful block generation during one day could be calculated from available CoinDayWeight using formula:

P = CoinDayWeight * 86400 / (4294967297 * difficulty)

Let's estimate probability for current difficulty (0.23482093):
P    Age    <= 30    45    60    90    120    8
Sum    -                   
1       0    0.0013    0.0026    0.0051    0.0077    0.0077
10       0    0.0128    0.0257    0.0514    0.0771    0.0771
100       0    0.1285    0.257    0.514    0.771    0.771

Average block generation time could be calculated as:

T =  4294967297 * difficulty / (CoinDayWeight * 86400)

Days    Age    <= 30    45    60    90    120    8
Sum    -                   
1       8    778.2    389.1    194.55    129.7    129.7
10       8    77.82    38.91    19.46    12.97    12.97
100       8    7.78    3.89    1.95    1.3    1.3
When can I start generating proof-of-stake blocks?

If you have balance then novacoind would automatically try to generate proof hashes for you. If you find a stake the reward is calculated using current proof-of-stake difficulty and coin-age amount consumed. The reward amount is added to your stake amount and is shown together in the "stake" field of getinfo output.

Because stake is withheld from spending for 520 blocks, if you do need to keep your balance around to be spent soon we provided a configuration option "reservebalance" to help you keep your balance from being used by stake. You can add a line "reservebalance=10000" to novacoin.conf and restart your novacoind. This way novacoind would try to keep your balance above 10000 coins when generating stakes.
What about rewards?

Block reward is based on Coin-Age parameter and proof-of-stake difficulty. A reward can be calculated using formula

nProofReward = min(10, CoinAge * (0.03125 / difficulty) ^ (1 / 3) * 33 / (365 * 33 + 8 ));

In other words, a reward is limited by 10 coins value, starts from 1 coin per Coin-Year and cut a half every 8x multiply of difficulty.


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January 08, 2017, 07:19:35 PM
 #19883

"We will provide 3 months withdrawal service..."

https://bter.com/article/11868

Even when bter has delisted a coin it still enforces maximum daily withdrawal limits. If you have a lot of mint on bter don't wait until the last minute to withdraw them. It might take a week to withdraw a big amount as there's a maximum allowed each day.
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January 10, 2017, 11:12:08 PM
 #19884

Just to say Mint is delisted for good on Bter, but also that for my own experience I did leave this crazy crypto world for some time (like 2 years, throw rotten eggs, tomatoes, or cryptos for my great irresponsability) and Bter kept all my delisted coins (at least I think) with ability to withdraw (my presence here to find updates on the coin status)
Enjoy!
PS : Any exchange to trade Mintcoin ?
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January 11, 2017, 01:01:15 AM
 #19885

Just to say Mint is delisted for good on Bter, but also that for my own experience I did leave this crazy crypto world for some time (like 2 years, throw rotten eggs, tomatoes, or cryptos for my great irresponsability) and Bter kept all my delisted coins (at least I think) with ability to withdraw (my presence here to find updates on the coin status)
Enjoy!
PS : Any exchange to trade Mintcoin ?

Cryptopia

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January 11, 2017, 01:18:01 AM
 #19886

PS : Any exchange to trade Mintcoin ?

https://www.coinhills.com/market/mint/

Cryptopia
CoinExchange.io
Novaexchange
SouthXchange

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January 11, 2017, 04:03:06 AM
 #19887

Does anyone have any information on who is behind CoinExchange.io? Seems kind of shady to me because it doesn't have a country or physical address listed.

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(2.) Moral order depends upon the harmonious action of all our powers, as
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January 12, 2017, 03:42:32 PM
 #19888

Does anyone have any information on who is behind CoinExchange.io? Seems kind of shady to me because it doesn't have a country or physical address listed.

Additional related info...

Twitter @CoinExchangeio started March 2016

https://bitcointalk.org/index.php?topic=1532173.0

https://www.reddit.com/r/CryptoCurrency/comments/4afvjw/coinexchangeio_launches_in_beta_trading_mode/

Twitter @MintyAllDay
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January 16, 2017, 09:13:17 AM
 #19889

Mintcoin
Market Cap
$458,056 
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January 17, 2017, 05:43:26 AM
 #19890

@ buy$Polar

Nobody really cares about your opinion.  The reason the price swung so much was because someone-one on Cryptopia did a massive LTC dump, and it threw off almost every market on the exchange. One of the markets that is traded decently there is MINT which was included in the price swing. It artifically pumped the exchange rate for XMR to extreme highs resulting in a massive MINT/XMR selloff. But MINT actually absorbed all of the impact quite well and things look to me be rather normalizing again now already, back up to about $600,000 or so last I checked.

Better is the patient in spirit than the proud.
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January 17, 2017, 07:23:42 PM
 #19891

$670 market cap on coinmarketcap right now.  Just another fun, minty day at the beach.  Hillary is just off to the side of this photo drinking a mojito.


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January 17, 2017, 08:28:50 PM
 #19892

Does anyone have any information on who is behind CoinExchange.io? Seems kind of shady to me because it doesn't have a country or physical address listed.

Yes, but he's is no longer among us. He has died from mental illness, and it seems that chances that he will ever come back to life are next to zero, unless lab rats from ur surroundings know how to artificially bring a dead body back to life.
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January 17, 2017, 08:31:48 PM
 #19893

"We will provide 3 months withdrawal service..."

https://bter.com/article/11868

This is a confidence trick. They tell u this to make u deposit more quid into that chinese craphole, and after they see u placed enough cash in ur account, they will stick a poisoned knife in ur back or beat u to death with a metal stick, guaranteed.
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January 18, 2017, 06:10:23 AM
 #19894

Hey MintyAllDay,

I had an idea...(Not sure what other people think about this, but just thought I'd throw it out there)

In regard to your Mint trading cards... Was just thinking it would be cool if they were somehow infused with a spearmint scent! Would just add that extra touch! Not sure if this is possible though, but wanted to put the idea out there  Cheesy

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January 19, 2017, 07:16:37 PM
 #19895

What's new? Anything going on? Is there a wallet update coming soon? Just curious.

Sick of mining?  Start minting!  5% per year!  Mintcoin "MINT"
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January 20, 2017, 12:55:41 AM
 #19896

Hey MintyAllDay,

I had an idea...(Not sure what other people think about this, but just thought I'd throw it out there)

In regard to your Mint trading cards... Was just thinking it would be cool if they were somehow infused with a spearmint scent! Would just add that extra touch! Not sure if this is possible though, but wanted to put the idea out there  Cheesy

Perhaps just a hint of mint on the private key.  Maybe scratch and sniff.   Cheesy

Twitter @MintyAllDay
MintyMintcoin.com
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January 20, 2017, 09:52:58 PM
 #19897

Hey MintyAllDay,

I had an idea...(Not sure what other people think about this, but just thought I'd throw it out there)

In regard to your Mint trading cards... Was just thinking it would be cool if they were somehow infused with a spearmint scent! Would just add that extra touch! Not sure if this is possible though, but wanted to put the idea out there  Cheesy

Perhaps just a hint of mint on the private key.  Maybe scratch and sniff.   Cheesy
Lol. Or maybe just make it optional. You wouldn't want to compromise the card right?

Sick of mining?  Start minting!  5% per year!  Mintcoin "MINT"
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January 26, 2017, 03:47:13 AM
 #19898

Why is Mintcoin price dropping? Is this the end for MINT? I don't want to give up because I really like this coin. This has been my favorite coin for so long. It just sucks the price has been going down the last 6 months or so constantly. But, I think price shouldn't get much lower right? Price is at almost all-time low huh, so maybe a great time to gather some funds together and buy up. I just can't hardley believe some sold MINT for 2 Satoshis. Sort of weird too because LTC price buy orders is worth a lot more than that. Markets are so weird! Anyone think we will see 1 Satoshi price for MINT?

Better is the patient in spirit than the proud.
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January 26, 2017, 05:02:50 AM
 #19899

Why is Mintcoin price dropping? Is this the end for MINT? I don't want to give up because I really like this coin. This has been my favorite coin for so long. It just sucks the price has been going down the last 6 months or so constantly. But, I think price shouldn't get much lower right? Price is at almost all-time low huh, so maybe a great time to gather some funds together and buy up. I just can't hardley believe some sold MINT for 2 Satoshis. Sort of weird too because LTC price buy orders is worth a lot more than that. Markets are so weird! Anyone think we will see 1 Satoshi price for MINT?

1.  Mintcoin lost Poloniex and their big market makers
2.  Chinese started Dumping and still are Dumping , when Mintcoin lost BTER.
Warned everyone in October 2016
But what do i know
i am just a troll according to the mintcoin geniuses that do nothing while the price dumps.

Calling me a troll is pointless,
Since Poloniex left the only thing holding Mintcoin up has been the Chinese Buyers,
They are dumping a little bit at a time , so the clueless don't catch on in time to lower their bids.
Mintcoin has no volume since Poloniex dumped it.
Today's Chart
1    BTER   MINT/BTC    $83    $0.000026    84.18%

Notice the Chinese Markets are selling at a much lower price.
A pitiful $83 is 84% of your daily volume, drop your bids to 1 sat if you want to stay in the BTC markets , or be prepared to languish in the LTC & Doge Markets before mintcoin dies a painful death.

Marketcap dropped to $663,094 , it is just the beginning, there are no more big players supporting mintcoin , Poloniex, ShapeShift , and now the Chinese are all dropping Mintcoin , marshal your remaining strength at 1 sat or lose everything.
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January 26, 2017, 01:49:37 PM
 #19900

Losing those exchanges are a big hit as the coins need to be absorbed. Price in Bitcoin is one thing, but Bitcoins price has been up recently which puts pressure too. Just combination of things probably not the end for mint though. Still too early in the game. Don't get too hung up on a certain price point. If only $5 worth is being sold that low somewhere it's not likely really moving the market or having a real impact. I don't really see any real dumps.

Sick of mining?  Start minting!  5% per year!  Mintcoin "MINT"
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