jany8293
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 Offline
Activity: 56
Merit: 0
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February 20, 2014, 05:07:35 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 I just sent you an e-mail. |
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jany8293
Newbie
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Activity: 56
Merit: 0
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February 20, 2014, 05:09:30 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. I suggest making it more public would be a good idea. Maybe more giveaways, more bounties |
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jany8293
Newbie
Offline
Activity: 56
Merit: 0
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February 20, 2014, 05:14:29 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. Agreed, +1000! |
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radi324
Full Member
Offline
Activity: 196
Merit: 100
Muniti creator
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February 20, 2014, 05:17:19 PM |
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It could be that the pre-mine is being saved for give-aways and to attract more professional staff when the coin enters the pure-POS stage... makes a lot of sense
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Maverick69
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February 20, 2014, 05:20:50 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 !!!! Sent. This coin is great! |
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suchnoob
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February 20, 2014, 05:25:55 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. Agreed, +1000! Agreed. |
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Gingermod
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February 20, 2014, 05:28:39 PM |
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Premined pump n' dump move along
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BitcoinFX
Legendary
Offline
Activity: 2646
Merit: 1722
https://youtu.be/DsAVx0u9Cw4 ... Dr. WHO < KLF
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February 20, 2014, 05:30:19 PM
Last edit: February 20, 2014, 05:42:52 PM by BitcoinFX |
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I overlooked MintCoin in the first week of its release and started mining in the second week. If nothing else this coin will make for an excellent proof-of-work experiment, although I can see MintCoin being quite valuable in the future. A large ongoing proof-of-stake percentage of this coin should really be given away to as many people as possible via social media. If MintCoin is to act as a true currency then its distribution must be increased. Without increased distribution held coins will have a more limited value and its economy could stagnate not long after the proof-of-work phase is completed. Early adopters and miners of this coin need to recognize that in terms of total future money supply they are perhaps holding the equivalent of a central bank or small / medium sized nation state in the long-term. I ran a distribution model and the forecast for MintCoin is looking really rather good if many initial holders were to donate / giveaway around half of their staked coin profit to new potential users i.e. at least 50% of the 20% (in the 1st year) onwards ... So, 10% or less (or more!) or whatever you can afford. The wider population both understands and likes to get interest on their 'money', especially 'high' fixed rates of interest that is guaranteed. Thus, putting a few MintCoins into the hands of as many people as possible is going to create good demand. People will be saying: "Yes. MintCoin works and 20% (even 5%) is a better rate of interest than my bank on my money. I think I'll buy myself some MintCoin!" , "Got to speculate to accumulate"... etc. The energy saving feature is also obviously a good selling point. A wide free distribution of around 20 to 200 coins per. person is probably about the right amount. This could decrease against the PoS reward over time i.e. 15 to 150 in the second year etc. This coin (and others like it) could bring a really bright future for crypto-currency in general. Alms to the crypto-poor - give and you shall receive ! P.S. If said giveaway's do not happen freely then everyone will probably be left holding a big 'bankster' style bag of worthless 'nothings'. Hint: If your wallet balance looks 'obscene' - think about giving away some of your MintCoins. They will be worth more that way. Probably. |
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Zzzack
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February 20, 2014, 05:32:06 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. I'm fine if devs keep a small amount of premine to themselves for work they put in. But this coin could actually have value if they give away half of their premine in faucets and giveaways to attract attention |
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nickenburg
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February 20, 2014, 05:32:11 PM |
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Premined pump n' dump move along
Lol dude stop hating because or coin is much popular, then your energy consuming coin. They only mined a few coins, and im pretty sure they wil spend the coins before the pos to ensure the community. Mint actually has some good features and will not die, thank you for all the dumb miners that are dumping because they will make the smarter people richer and they will invest it in bitcoin again! |
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majorminers
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February 20, 2014, 05:32:18 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 !!!! Sent. This coin is great! Keep sending those emails. The more exchanges the better  |
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CryptoClassroom
Newbie
Offline
Activity: 16
Merit: 0
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February 20, 2014, 05:33:07 PM |
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Even if this coin was premined, I don't think the developers have bad intentions. They've been giving a lot away, including 10,000 Mintcoin to everyone who liked their Facebook page. I personally received 50,000 for writing an article on my website involving Mintcoin, that was a nice surprise I still agree that the address should be public though. Developers who want a coin to be taken seriously shouldn't be hiding anything at all. |
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radi324
Full Member
Offline
Activity: 196
Merit: 100
Muniti creator
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February 20, 2014, 05:34:59 PM |
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I overlooked MintCoin in the first week of its release and started mining in the second week. If nothing else this coin will make for an excellent proof-of-work experiment, although I can see MintCoin being quite valuable in the future. A large ongoing proof-of-stake percentage of this coin should really be given away to as many people as possible via social media. If MintCoin is to act as a true currency then its distribution must be increased. Without increased distribution held coins will have a more limited value and its economy could stagnate not long after the proof-of-work phase is completed. Early adopters and miners of this coin need to recognize that in terms of total future money supply they are perhaps holding the equivalent of a central bank or small / medium nation state in the long-term. I ran a distribution model and the forecast for MintCoin is looking really rather good if many initial holders were to donate / giveaway around half of their staked coin profit to new potential users i.e. at least 50% of the 20% (in the 1st year) onwards ... So, 10% or less (or more!) or whatever you you can afford. The wider population both understands and likes to get interest on their 'money', especially 'high' fixed rates of interest that are guaranteed. Thus, putting a few MintCoins into the hands of as many people as possible is going to create good demand. People will be saying: "Yes. MintCoin works and 20% (even 5%) is a better rate of interest than my bank on my money. I think I'll buy myself some MintCoin!" , "Got to speculate to accumulate"... etc. The energy saving feature is also obviously a good selling point. A wide free distribution of around 20 to 200 coins per. person is probably about the right amount. This could decrease against the PoS reward over time i.e. 15 to 150 in the second year etc. This coin (and others like it) could bring a really bright future for crypto-currency in general. Alms to the crypto-poor - give and you shall receive ! This. Enough FUD, funny how in every alt-coin thread in existence there's always someone moaning about pre-mine, whether it exists or not. Concentrate your efforts on promoting the coin if you hold some, you'd be only doing yourselves a disservice if you help in corroding the same coin you're holding - don't be that stupid |
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virtualdn
Legendary
Offline
Activity: 1372
Merit: 1093
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February 20, 2014, 05:37:00 PM |
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THIS IS CRAZY!
NOW THERE IS A PRIZE OF 25,000 MINTCOINS! WIN IT NOW!
http://coinok.pw/scratch/mint
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1 BTC = 1 BTC
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Gingermod
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February 20, 2014, 05:38:48 PM |
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Premined pump n' dump move along
Lol dude stop hating because or coin is much popular, then your energy consuming coin. They only mined a few coins, and im pretty sure they wil spend the coins before the pos to ensure the community. Mint actually has some good features and will not die, thank you for all the dumb miners that are dumping because they will make the smarter people richer and they will invest it in bitcoin again! Alright buddy |
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Kergekoin
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February 20, 2014, 05:39:54 PM |
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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 understand that having premine is crucial for coin success. This is not DOGE where hype got it going. Most coins need injection of funds to get any kind of attention, because theres more that 300 alt coins on the market already. If premine is used correctly it does not hurt coin in any way. Instead, it can be extremely useful for coins success. |
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Gingermod
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February 20, 2014, 05:40:33 PM |
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Also, after 5 weeks you're telling me mining is pretty much impossible and you have to buy in? Yeah this will be great for getting the mainstream interested.
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Gingermod
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February 20, 2014, 05:42:33 PM |
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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 understand that having premine is crucial for coin success. This is not DOGE where hype got it going. Most coins need injection of funds to get any kind of attention, because theres more that 300 alt coins on the market already. If premine is used correctly it does not hurt coin in any way. Instead, it can be extremely useful for coins success. That's absolute bullshit, running a crypto-currency isn't even that expensive. You're looking at an under 500 dollar investment if your dev team falters in some areas. That 1% premine right now is worth over 25k, or a third of the total volume this coin is currently trading. |
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sakkosekk
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February 20, 2014, 05:44:07 PM |
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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 understand that having premine is crucial for coin success. This is not DOGE where hype got it going. Most coins need injection of funds to get any kind of attention, because theres more that 300 alt coins on the market already. If premine is used correctly it does not hurt coin in any way. Instead, it can be extremely useful for coins success. That's absolute bullshit, running a crypto-currency isn't even that expensive. You're looking at an under 500 dollar investment if your dev team falters in some areas. That 1% premine right now is worth over 25k, or a third of the total volume this coin is currently trading. +1 .Hehe Kergekoin, where do you come up with things like that? Have we in the course of two months established that premine is crucial for coin success? |
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majorminers
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February 20, 2014, 05:47:22 PM |
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I overlooked MintCoin in the first week of its release and started mining in the second week. If nothing else this coin will make for an excellent proof-of-work experiment, although I can see MintCoin being quite valuable in the future. A large ongoing proof-of-stake percentage of this coin should really be given away to as many people as possible via social media. If MintCoin is to act as a true currency then its distribution must be increased. Without increased distribution held coins will have a more limited value and its economy could stagnate not long after the proof-of-work phase is completed. Early adopters and miners of this coin need to recognize that in terms of total future money supply they are perhaps holding the equivalent of a central bank or small / medium nation state in the long-term. I ran a distribution model and the forecast for MintCoin is looking really rather good if many initial holders were to donate / giveaway around half of their staked coin profit to new potential users i.e. at least 50% of the 20% (in the 1st year) onwards ... So, 10% or less (or more!) or whatever you you can afford. The wider population both understands and likes to get interest on their 'money', especially 'high' fixed rates of interest that are guaranteed. Thus, putting a few MintCoins into the hands of as many people as possible is going to create good demand. People will be saying: "Yes. MintCoin works and 20% (even 5%) is a better rate of interest than my bank on my money. I think I'll buy myself some MintCoin!" , "Got to speculate to accumulate"... etc. The energy saving feature is also obviously a good selling point. A wide free distribution of around 20 to 200 coins per. person is probably about the right amount. This could decrease against the PoS reward over time i.e. 15 to 150 in the second year etc. This coin (and others like it) could bring a really bright future for crypto-currency in general. Alms to the crypto-poor - give and you shall receive ! This. Enough FUD, funny how in every alt-coin thread in existence there's always someone moaning about pre-mine, whether it exists or not. Concentrate your efforts on promoting the coin if you hold some, you'd be only doing yourselves a disservice if you help in corroding the same coin you're holding - don't be that stupid Usually the complaining about pre-mining is done right away Mintcoin is going to the MOON! |
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