[ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]

[Jherek]

Coins are created so how is it deflationary?

The creation is nothing compared to what fluid mining has and still decreases.

It's quite simply not a deflationary currency.

What sidhujag just said. Minting rewards are minimal and decrasing and hardcap coming eventually. It is deflationary.

[Jherek]

If I have MINT coins on MINTPAL.COM i will get my POS after 20 days?

In fact, mintpal will get it into their wallet for your balance.

[Jherek]

What is hard to understand is why you are posting to this forum.

Because I am a former miner and holder of 1.6m mintcoins.

Then have some faith in the coin! You must have had some at some point, otherwise I imagine you would not have gotten involved. What got you interested in mintcoin to begin with? And what has changed since then (Besides mining having finished, which we all knew was going to happen)?

I am allergic to faith, I prefer logic and knowledge. It seemed logical to start mining mintcoins until the POS came in. I also didn't say that I'd dump it all I said was that we will have to sooner or later, because this coin has it's own poisonbomb build in and we can only hope to get out on good terms.

[hoshigakiii]

If I have MINT coins on MINTPAL.COM i will get my POS after 20 days?

no, you will not

So, why not?

[stormia]

What is hard to understand is why you are posting to this forum.

Because I am a former miner and holder of 1.6m mintcoins.

Then have some faith in the coin! You must have had some at some point, otherwise I imagine you would not have gotten involved. What got you interested in mintcoin to begin with? And what has changed since then (Besides mining having finished, which we all knew was going to happen)?

I am allergic to faith, I prefer logic and knowledge. It seemed logical to start mining mintcoins until the POS came in. I also didn't say that I'd dump it all I said was that we will have to sooner or later, because this coin has it's own poisonbomb build in and we can only hope to get out on good terms.

I am allergic to faith as well- I am a biochemist. But I still use the word, in a non-religious sense, because no matter how much logic and knowledge you have there is no way to predict the future.

[sidhujag]

Coins are created so how is it deflationary?

The creation is nothing compared to what fluid mining has and still decreases.

It's quite simply not a deflationary currency.

What sidhujag just said. Minting rewards are minimal and decrasing and hardcap coming eventually. It is deflationary.

Even devcoin is deflationary but just not as much.. How would you model inflation based on gdp? It becomes dynamic at that point something the govt will want but will lead to crashes etc.. Wouldnt steady inflation be better? We already have seen decreasing rates dont have intended affect of increasing borrowing. The tools that fed uses arent any better than simply assigning somr inflation % and let market work.

Its difference between buy hold strategy and swing trading... in the very long term the buy hold strategy
is predictable and wins overall.

[mgburks77]

there is also a hardcap.. as more people populate earth the amouny of coins decrease.. thats deflationary.

By that standard all possible mediums for exchanges are "deflationary".

anyway, that doesn't matter because you are operating under the precepts of neo-classical economics, which are demonstrably flawed and cannot render a good economic analysis, especially in regard to new forms of electronic currency.

Scarcity increases value, it doesn't decrease it and since digital currency can used divided into smaller and smaller denominations that simply is not an issue.

Currency, doesn't need to be "backed" by anything, especially wasting electricity.

[sidhujag]

there is also a hardcap.. as more people populate earth the amouny of coins decrease.. thats deflationary.

By that standard all possible mediums for exchanges are "deflationary".

anyway, that doesn't matter because you are operating under the precepts of neo-classical economics, which are demonstrably flawed and cannot render a good economic analysis, especially in regard to new forms of electronic currency.

Scarcity increases value, it doesn't decrease it and since digital currency can used divided into smaller and smaller denominations that simply is not an issue.

Currency, doesn't need to be "backed" by anything, especially wasting electricity.

Yea maybe.. but adoption also increases value.. scarcity increasing value is a commodity not a currency. To be a currency it has to have an inflation model. That is backed by thinking ever since money existed amd wont change.. The model at which inflation is applied is neo classical and outdated so thats why I say that maybe the feds tools are obsolete because we are not any better after all that debt.

The classic bitcoin thinking is that deflation leads to efficiency like consumer electronics.. but it also renders interest rate borrowing obsolete so no more lending.. If you have some inflation it will fit the world like a glove and then slowly make it efficient by a steady inflation rate making inflation tend to 0 asymptotically..

Anyways if you read that quote in the thread link i provided I backed it by professors who also say the same thing.. I just thought it was common sense ever since ai learned about bitcoin... Infact my first thread was about bitcoin deflation and how we need inflation built in.. but then I discovered we already have what we need.

[litemaster]

If I have MINT coins on MINTPAL.COM i will get my POS after 20 days?

Get them in your own wallet ASAP to start minting. Also POS in your wallet.
My wallet has been getting more coins added every day from minting like clock work.

I like this coin and have kept 5 million and sold the same.

[litemaster]

I do have a question for DEV team:

What happens to the mined coins that do not get confirmed in my wallet? I have around 10 mined transactions that have a question mark by them and the coins were not added to my wallet in these transactions.

EX:
Amount: [579.377534]
Status: 0/unconfirmed, broadcast through 44 nodes
Date: 3/8/2014 15:43
Debit: 0.00 MINT
Net amount: -50179.222865 MINT
Transaction ID: bc6f6e9e07b3edc4762d0b036ec17ae868b2dd19f39d701d9e6ec387e7468575

Generated coins must mature 50 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, its state will change to "not accepted" and it won't be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.

Please explain

[voephilis]

huge pump planed!
big buywall on 19 sat @34 BTC

time: 7 pm EST

https://twitter.com/thecryptotrader

[wasamata]

Your right and dont expect the noobs in here to understand what you are saying... You need inflation in a deflationary model.. not inflation tending to zero.. Its a failure by design.

Bitcoin will always be there.. as a commodity but not a currency I believe. There are better coins out there that will do the job of everyday tx...

What you need is:

1) Something where mining is irrelavent (pos is good for that)
2) Yet secure.. merged mining bitcoin means its secure yet mining is not a problem.
3) Predictable inflation. NOT dynamic inflation like PPC.. dynamic inflation leads to incentove to game thr system for profit.
read this about a quote from the dogecoin site from a professor of economics: https://bitcointalk.org/index.php?topic=233997.msg5599093#msg5599093

4) Provide inherent utility.. blockchain does this..

So far only 1 coin fits that bill and its DevCoin.. miners get 10% of each block and mining is not a problem since its merged mined with bitcoin. So mining is like free.. 90% goes to people who work to earn. Even businesses etc. So there is far more utility than dogecoin.

No more coins can be released merged mined because of asics.. so reallly it makes sense this would be the one and all other coins lost in dust. It was designed to be it. Bitcoins addresses are interchangeable to DevCoin if you can send dvc to btc wallet and vice versa.. so that in the future one address may be meeded for both. or people switch to dvc without losing private keys.

Goodluck with holding your dev coins noob, you will be diluted into oblivion through endless coin production. Sheesh, talk about hyperinflation, devcoin is exactly that.
That is like holding a share and the CEO keeps issuing billions of shares daily at a constant rate your portfolio will soon be zero.

[braytz]

huge pump planed!
big buywall on 19 sat @34 BTC

that buywall is there since this morning (utc+1).

[CatKiwi]

Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.

This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.

POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.

The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.

HTH.

Currencies need spendings, need flow. You describe a hyper-deflationary modell and there is a reason why states try to encourage the citizens to spend their money, because massive bagholding is killing egonomy.

What you want with mintcoin is something like gold. Deflationary investment. But cryptocurrencies are not gold, they are worthless without money flow. Gold can be kept and gold has a purpose aside from investment. Gold is needed for electronics, in science and jewellery so there will always be some demand for gold and someone will sell gold when the price is high enough. That's the same problem that will come to bitcoin eventually: No sense in mining it and when you hold it, it will become more worth tomorrow, so price increases. But at some point it will be impossible to get via mining and impossible to get via buying because almost everyone just holds. Satoshi, being mathematically genius, confused gold with money as he created bitcoin. Currencies like dogecoin have more future because of their inflationary model. They will not increase in price unlimited but they will reach a certain level where spending/buying makes sense.

What nonsense! Go ahead and invest in a coin with zero return on investment! Where do you think your gains will come from, the hope of a capital gain, is that all?
And please, don;t compare bitcoin to gold. Bitcoin can be replicated a million times over as shown by the numorous clones. Now go ahead and explain how you can clone gold? I think I know what I'll choose. Blue chip stocks pay a dividend. Shit coins don't. End of story.
Besides your just shitty u cant mine and dump this coin. Well as a holder, Im glad.
Time for you to move or simply point your miner at a multipool!

This discussion is as old as bitcoins are and came up again refreshed (though with same arguments) when dogecoin decided inflationary modell.
There are basically two sides in this dicussion: Those that understand economics and those that dont.
And then there are these bitcoin evangelists defending bitcoins deflation and turn around claim how this will be the new currency, not noticing how they contradict themself.
And, when bitcoin is digital gold and someone clones bitcoin it doesn't mean that they cloned gold. They just brought up another commodity beside bitcoin competing on the same market. Unless they follow a completely other concept. And that's the reason, why coins like dogecoin will outlive bitcoins in the long run if they stay active that long. Inflationary coins stay fluid while deflationary cryptos will stale.

Your right and dont expect the noobs in here to understand what you are saying... You need inflation in a deflationary model.. not inflation tending to zero.. Its a failure by design.

Bitcoin will always be there.. as a commodity but not a currency I believe. There are better coins out there that will do the job of everyday tx...

What you need is:

1) Something where mining is irrelavent (pos is good for that)
2) Yet secure.. merged mining bitcoin means its secure yet mining is not a problem.
3) Predictable inflation. NOT dynamic inflation like PPC.. dynamic inflation leads to incentove to game thr system for profit.
read this about a quote from the dogecoin site from a professor of economics: https://bitcointalk.org/index.php?topic=233997.msg5599093#msg5599093

4) Provide inherent utility.. blockchain does this..

So far only 1 coin fits that bill and its DevCoin.. miners get 10% of each block and mining is not a problem since its merged mined with bitcoin. So mining is like free.. 90% goes to people who work to earn. Even businesses etc. So there is far more utility than dogecoin.

No more coins can be released merged mined because of asics.. so reallly it makes sense this would be the one and all other coins lost in dust. It was designed to be it. Bitcoins addresses are interchangeable to DevCoin if you can send dvc to btc wallet and vice versa.. so that in the future one address may be meeded for both. or people switch to dvc without losing private keys.

I knew your agenda would reveal itself eventually.

[Daveholdem]

My MintCoin QT doesn't seem to be installed on my computer whereas my other wallets do. It works perfectly by just clicking the exe file in the extracted folder. Is this normal or should I be worried as it won't work correctly?

[Arcainis]

Hi
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!

[ahbartsch]

Hi
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!

http://www.reddit.com/r/MintCoin/comments/1zgpcz/how_do_you_unlock_the_wallet_to_allow_pos/cfthrxx

[locopao]

Hi
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!

click Help / Debug Window / Console

Type walletpassphrase "YOURWALLETSPASSWORD" 9999999 true

and press enter

You 'll see the the lock icon (down right corner) unlocked.

[rmoraos]

I am concerned why Blackcoin tanked, would the same thing happen to MINT?

BC tanked along with every other altcoin these last weeks. I think the AUR/MZC craze has contributed to the decline of a lot of alts, too. People are selling what they have to make money off of AUR etc at the moment, so a lot of capital is tied up in those alts. People have had their eye on Mint (and Black for that matter) for a while now, so it's in the forefront of the community's consciousness. That's a huge plus. Once people realize the potential in Mint and Black, which probably won't take long, we will see serious increases in price. Just wait for some capital to be freed from the coin-of-the-week.

Also BC don't have merchants that accept it. Mintcoin have ! BC by now is just pump & dump if it don't have use.

[Sylon]

In your opinion, what could be the higher price of MINT during the PoS time ?