ShibeonBarkmont
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Activity: 100
Merit: 10
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February 20, 2014, 04:15:22 PM |
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Good day! I'm the Co-Founder of CoT-X Crypto-Currencies exchange platform. We are a new startup based in Singapore. And we are looking to include 5 additional alt-coins to be tradable on the exchange at launch. if you keen to see Mintcoin listed on the exchange, drop us a email today, and tell us why we should add Mintcoin!  My promise: If I'm to received 100 emails by Monday midnight EST, requesting for Mintcoin to be added, I will include Mintcoin in the initial launch.  https://bitcointalk.org/index.php?topic=472993.0FB: https://www.facebook.com/cotexchangeEmail: support@cot-x.comCheers & Regards, Daniel Chia Alright Team you know what to do. I know I sent mine already. 99 to go Lets get it on more exchanges and keep this crazy minty fresh train rolling!!! |
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furdur
Newbie
Offline
Activity: 10
Merit: 0
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February 20, 2014, 04:16:00 PM
Last edit: February 21, 2014, 08:29:54 AM by furdur |
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OK, guys and girls. Lets calculate how many coins will be mined until PoW reward goes to 1.
Reward change target is one week. This is 2880 x 7 = 20160
First week.
500 000 x 20160 = 10.08B
second week
10.08/2 = 5.04B
3rd 2,52B. Actually its less than 2.52B from here, because PoS blocks start to appear in block chain from day 20.
4th less than 1,26B
5th less than 0.63B
OK. Lets compound. 10.08 + 5.04 + <2.52 + <1.26 + <0.63 = Less than 19,53B. Probably only around 18B is close to quess.
This is only 70B/18B * 100 = 25.7% of total coins. This means that almost 3/4 of total coins will be generated through PoS blocks.
Lets quess the estimates of PoS now.
Assuming that 18B will be generated through PoW. the PoS interests will be as follows:
18B *20% = 3.6B. Total coins of 21.6B after year 1.
21.6B *15% = 3.24B. Total coins of 24.84 after year 2.
24.84B*10% = 2.48B. Total coins of 27.32B after year 3.
OK. You see where this is going. This coin will not reach 70B coins any time soon.
If this coin gains popularity and gets some demand, then price of 200 + satoshis is very probable.
Please keep in mind that simple math done above is just rought estimates and not exact numbers.
Hopefully this post helped to generate point of view about this coin progress.
This implies that the premine is actually 19,4% after one year, which is obscene. This will undermine the coins chance to succeed. Let's all together put pressure on the dev to make public all the spent premine coins. Or even better: let him destroy the premine. EDIT: I made a mistake. As pointed out below it is actually 3.89%, which still is quiet high. |
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asdlolciterquit
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February 20, 2014, 04:20:25 PM |
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Like i've red on the F.A.Q, PoS blocks will be generated after you hold some coins in your wallet for certain period of time: so, after 20days, i start to gain interests. So, maybe, after 30 days i'll have 1030 coins.
The 20% interests will be calculated after 30 days on 1030 coins, or on the initials 1000?
I think the 20 days maturity time plays the role there. If I'm interpreting it correctly, the first generated coin from initial 1000 coins will enter your wallet on the 21th day. After that single coin spends 20 more days in your wallet, it'll start generating coins on 41th day. that's sound right to me! thanks everybody for the quick answers! just a question: how many coin(s) will enter in my wallet of 1000coins after 20 days? only 1? i think more... |
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Zukii
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February 20, 2014, 04:25:04 PM |
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OK, guys and girls. Lets calculate how many coins will be mined until PoW reward goes to 1.
Reward change target is one week. This is 2880 x 7 = 20160
First week.
500 000 x 20160 = 10.08B
second week
10.08/2 = 5.04B
3rd 2,52B. Actually its less than 2.52B from here, because PoS blocks start to appear in block chain from day 20.
4th less than 1,26B
5th less than 0.63B
OK. Lets compound. 10.08 + 5.04 + <2.52 + <1.26 + <0.63 = Less than 19,53B. Probably only around 18B is close to quess.
This is only 70B/18B * 100 = 25.7% of total coins. This means that almost 3/4 of total coins will be generated through PoS blocks.
Lets quess the estimates of PoS now.
Assuming that 18B will be generated through PoW. the PoS interests will be as follows:
18B *20% = 3.6B. Total coins of 21.6B after year 1.
21.6B *15% = 3.24B. Total coins of 24.84 after year 2.
24.84B*10% = 2.48B. Total coins of 27.32B after year 3.
OK. You see where this is going. This coin will not reach 70B coins any time soon.
If this coin gains popularity and gets some demand, then price of 200 + satoshis is very probable.
Please keep in mind that simple math done above is just rought estimates and not exact numbers.
Hopefully this post helped to generate point of view about this coin progress.
This implies that the premine is actually 19,4% after one year, which is obscene. This will undermine the coins chance to succeed. Let's all together put pressure on the dev to make public all the spent premine coins. Or even better: let him destroy the premine. Please correct this wrong figure, it's no where near 20%. That would imply only 3.5 billion coins exist after 1 year which is false from what you quoted. 700,000,000 / 18,000,000,000 is not 0.194... it's 0.03888 ~ 3.89% This means the premine is basically 3.89%. Admittedly this is still quite a lot higher than what a lot of people probably thought. It's made worse by the fact that it will generate PoS too, meaning it will ALWAYS be 3.89% as long as the dev doesn't spend it or move it (to decrease coinage). If they don't move it / spend it, it'll likely increase (in %age terms) as other move their MINT around destroying coinage. I do agree that the dev team should be more public about where the premine is being spent and used though |
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Ferris419
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February 20, 2014, 04:25:12 PM |
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Good day! I'm the Co-Founder of CoT-X Crypto-Currencies exchange platform. We are a new startup based in Singapore. And we are looking to include 5 additional alt-coins to be tradable on the exchange at launch. if you keen to see Mintcoin listed on the exchange, drop us a email today, and tell us why we should add Mintcoin! My promise: If I'm to received 100 emails by Monday midnight EST, requesting for Mintcoin to be added, I will include Mintcoin in the initial launch. https://bitcointalk.org/index.php?topic=472993.0FB: https://www.facebook.com/cotexchangeEmail: support@cot-x.comCheers & Regards, Daniel Chia Alright Team you know what to do. I know I sent mine already. 99 to go Lets get it on more exchanges and keep this crazy minty fresh train rolling!!! I sent mine!! :-) |
Bitcoin is gonna hit 100K usd
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Chris180Z
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February 20, 2014, 04:29:12 PM |
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Well I can confirm that the dev has sent me (as part of the agreed bounty) 1.5 million for creating the website forum. I have also been promised roughly another 1.5m over the next few months under the stipulation that I stick around, regularly update the forums and provide regular and active support for the members over there.
I also agree with the transparency. Clearly the dev is fulfilling bounty agreements. Maybe he feels such transactions should be private unless the receiver feels like stating how much they were given for whatever it is that they did for the coin?
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majorminers
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February 20, 2014, 04:29:28 PM |
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Good day! I'm the Co-Founder of CoT-X Crypto-Currencies exchange platform. We are a new startup based in Singapore. And we are looking to include 5 additional alt-coins to be tradable on the exchange at launch. if you keen to see Mintcoin listed on the exchange, drop us a email today, and tell us why we should add Mintcoin! My promise: If I'm to received 100 emails by Monday midnight EST, requesting for Mintcoin to be added, I will include Mintcoin in the initial launch. https://bitcointalk.org/index.php?topic=472993.0FB: https://www.facebook.com/cotexchangeEmail: support@cot-x.comCheers & Regards, Daniel Chia Alright Team you know what to do. I know I sent mine already. 99 to go Lets get it on more exchanges and keep this crazy minty fresh train rolling!!! I sent mine!! :-) I sent mine! Only 97 to go! |
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lumeire
Legendary
Offline
Activity: 1848
Merit: 1009
Next-Gen Trade Racing Metaverse
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February 20, 2014, 04:29:42 PM |
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Alright Team you know what to do. I know I sent mine already. 99 to go Lets get it on more exchanges and keep this crazy minty fresh train rolling!!! Done on my end! |
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yodoberman
Member
Offline
Activity: 112
Merit: 10
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February 20, 2014, 04:31:14 PM |
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Good day! I'm the Co-Founder of CoT-X Crypto-Currencies exchange platform. We are a new startup based in Singapore. And we are looking to include 5 additional alt-coins to be tradable on the exchange at launch. if you keen to see Mintcoin listed on the exchange, drop us a email today, and tell us why we should add Mintcoin! My promise: If I'm to received 100 emails by Monday midnight EST, requesting for Mintcoin to be added, I will include Mintcoin in the initial launch. https://bitcointalk.org/index.php?topic=472993.0FB: https://www.facebook.com/cotexchangeEmail: support@cot-x.comCheers & Regards, Daniel Chia It will be your loss if you dont add Mintcoin, not ours |
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Chris180Z
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February 20, 2014, 04:32:48 PM |
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e-mail sent to CoT-X
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funkwerk101
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February 20, 2014, 04:43:51 PM |
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Good day! I'm the Co-Founder of CoT-X Crypto-Currencies exchange platform. We are a new startup based in Singapore. And we are looking to include 5 additional alt-coins to be tradable on the exchange at launch. if you keen to see Mintcoin listed on the exchange, drop us a email today, and tell us why we should add Mintcoin! My promise: If I'm to received 100 emails by Monday midnight EST, requesting for Mintcoin to be added, I will include Mintcoin in the initial launch. https://bitcointalk.org/index.php?topic=472993.0FB: https://www.facebook.com/cotexchangeEmail: support@cot-x.comCheers & Regards, Daniel Chia Alright Team you know what to do. I know I sent mine already. 99 to go Lets get it on more exchanges and keep this crazy minty fresh train rolling!!! I sent mine!! :-) I sent mine! Only 97 to go! Email Sent  |
1MDiLyJGvwcLf3vcNKfqmCXa28gqTVQeaW
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asdlolciterquit
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February 20, 2014, 04:46:05 PM |
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Good day! I'm the Co-Founder of CoT-X Crypto-Currencies exchange platform. We are a new startup based in Singapore. And we are looking to include 5 additional alt-coins to be tradable on the exchange at launch. if you keen to see Mintcoin listed on the exchange, drop us a email today, and tell us why we should add Mintcoin! My promise: If I'm to received 100 emails by Monday midnight EST, requesting for Mintcoin to be added, I will include Mintcoin in the initial launch. https://bitcointalk.org/index.php?topic=472993.0FB: https://www.facebook.com/cotexchangeEmail: support@cot-x.comCheers & Regards, Daniel Chia Alright Team you know what to do. I know I sent mine already. 99 to go Lets get it on more exchanges and keep this crazy minty fresh train rolling!!! I sent mine!! :-) I sent mine! Only 97 to go! Email Sent email sent pls check the spam folder too!! |
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bob131313
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February 20, 2014, 04:47:43 PM |
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OK, guys and girls. Lets calculate how many coins will be mined until PoW reward goes to 1.
Reward change target is one week. This is 2880 x 7 = 20160
First week.
500 000 x 20160 = 10.08B
second week
10.08/2 = 5.04B
3rd 2,52B. Actually its less than 2.52B from here, because PoS blocks start to appear in block chain from day 20.
4th less than 1,26B
5th less than 0.63B
OK. Lets compound. 10.08 + 5.04 + <2.52 + <1.26 + <0.63 = Less than 19,53B. Probably only around 18B is close to quess.
This is only 70B/18B * 100 = 25.7% of total coins. This means that almost 3/4 of total coins will be generated through PoS blocks.
Lets quess the estimates of PoS now.
Assuming that 18B will be generated through PoW. the PoS interests will be as follows:
18B *20% = 3.6B. Total coins of 21.6B after year 1.
21.6B *15% = 3.24B. Total coins of 24.84 after year 2.
24.84B*10% = 2.48B. Total coins of 27.32B after year 3.
OK. You see where this is going. This coin will not reach 70B coins any time soon.
If this coin gains popularity and gets some demand, then price of 200 + satoshis is very probable.
Please keep in mind that simple math done above is just rought estimates and not exact numbers.
Hopefully this post helped to generate point of view about this coin progress.
This implies that the premine is actually 19,4% after one year, which is obscene. This will undermine the coins chance to succeed. Let's all together put pressure on the dev to make public all the spent premine coins. Or even better: let him destroy the premine. Please correct this wrong figure, it's no where near 20%. That would imply only 3.5 billion coins exist after 1 year which is false from what you quoted. 700,000,000 / 18,000,000,000 is not 0.194... it's 0.03888 ~ 3.89% This means the premine is basically 3.89%. Admittedly this is still quite a lot higher than what a lot of people probably thought. It's made worse by the fact that it will generate PoS too, meaning it will ALWAYS be 3.89% as long as the dev doesn't spend it or move it (to decrease coinage). If they don't move it / spend it, it'll likely increase (in %age terms) as other move their MINT around destroying coinage. I do agree that the dev team should be more public about where the premine is being spent and used though This is a huge impact on the potential of this coin. Having a 'wolong' ready to drop the price at a moments notice will not help the coin succeed. Dev please become transparent by posting the premine wallet address so the community can monitor. Also please post your full intentions with the coins. If you feel you deserve to be paid for being the dev, please hash that out with the community. |
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Jeezy911
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February 20, 2014, 04:49:27 PM |
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Well I just bumped the price up a satoshi lol.
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Chris180Z
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February 20, 2014, 04:54:20 PM |
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Also, now we have forums, I would like to see the dev put up some giveaway threads with that pre-mine. Nothing too heavy, but just some incentives to get people reading about the coin and registering on the forums and getting involved in the community.
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Jeezy911
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February 20, 2014, 04:57:00 PM |
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could mint go to 100 satoshi or higher? I mean reasonably, what market position would that be around, top 50?
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Ghorky
Member
Offline
Activity: 86
Merit: 10
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February 20, 2014, 05:01:29 PM |
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Good day! I'm the Co-Founder of CoT-X Crypto-Currencies exchange platform. We are a new startup based in Singapore. And we are looking to include 5 additional alt-coins to be tradable on the exchange at launch. if you keen to see Mintcoin listed on the exchange, drop us a email today, and tell us why we should add Mintcoin! My promise: If I'm to received 100 emails by Monday midnight EST, requesting for Mintcoin to be added, I will include Mintcoin in the initial launch. https://bitcointalk.org/index.php?topic=472993.0FB: https://www.facebook.com/cotexchangeEmail: support@cot-x.comCheers & Regards, Daniel Chia Alright Team you know what to do. I know I sent mine already. 99 to go Lets get it on more exchanges and keep this crazy minty fresh train rolling!!! I sent mine!! :-) I sent mine! Only 97 to go! Email Sent email sent pls check the spam folder too!! Sent 92 to go ... ? Big up ! Cheers !!!! |
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sakkosekk
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February 20, 2014, 05:03:29 PM |
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OK, guys and girls. Lets calculate how many coins will be mined until PoW reward goes to 1.
Reward change target is one week. This is 2880 x 7 = 20160
First week.
500 000 x 20160 = 10.08B
second week
10.08/2 = 5.04B
3rd 2,52B. Actually its less than 2.52B from here, because PoS blocks start to appear in block chain from day 20.
4th less than 1,26B
5th less than 0.63B
OK. Lets compound. 10.08 + 5.04 + <2.52 + <1.26 + <0.63 = Less than 19,53B. Probably only around 18B is close to quess.
This is only 70B/18B * 100 = 25.7% of total coins. This means that almost 3/4 of total coins will be generated through PoS blocks.
Lets quess the estimates of PoS now.
Assuming that 18B will be generated through PoW. the PoS interests will be as follows:
18B *20% = 3.6B. Total coins of 21.6B after year 1.
21.6B *15% = 3.24B. Total coins of 24.84 after year 2.
24.84B*10% = 2.48B. Total coins of 27.32B after year 3.
OK. You see where this is going. This coin will not reach 70B coins any time soon.
If this coin gains popularity and gets some demand, then price of 200 + satoshis is very probable.
Please keep in mind that simple math done above is just rought estimates and not exact numbers.
Hopefully this post helped to generate point of view about this coin progress.
This implies that the premine is actually 19,4% after one year, which is obscene. This will undermine the coins chance to succeed. Let's all together put pressure on the dev to make public all the spent premine coins. Or even better: let him destroy the premine. Please correct this wrong figure, it's no where near 20%. That would imply only 3.5 billion coins exist after 1 year which is false from what you quoted. 700,000,000 / 18,000,000,000 is not 0.194... it's 0.03888 ~ 3.89% This means the premine is basically 3.89%. Admittedly this is still quite a lot higher than what a lot of people probably thought. It's made worse by the fact that it will generate PoS too, meaning it will ALWAYS be 3.89% as long as the dev doesn't spend it or move it (to decrease coinage). If they don't move it / spend it, it'll likely increase (in %age terms) as other move their MINT around destroying coinage. I do agree that the dev team should be more public about where the premine is being spent and used though This is a huge impact on the potential of this coin. Having a 'wolong' ready to drop the price at a moments notice will not help the coin succeed. Dev please become transparent by posting the premine wallet address so the community can monitor. Also please post your full intentions with the coins. If you feel you deserve to be paid for being the dev, please hash that out with the community. Second this. Transparency is a future must for coins now I'll say. |
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virtualdn
Legendary
Offline
Activity: 1372
Merit: 1093
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February 20, 2014, 05:05:37 PM |
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1 BTC = 1 BTC
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Jeezy911
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February 20, 2014, 05:06:58 PM |
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Wait, I just bought a bunch of coin that has a 4% fucking premine?  This needs cleared up. |
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