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

[Stinky_Pete]

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!

Mining and Minting are two different and independent processes. If you want to know if you are mining type 'getmininginfo' into the console.

[Dallas5]

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

We've reached 45 sat a few days ago, so now mining and dumping seized perhaps double that number.

[rmoraos]

It is not as it leaves alot of people puzzled

Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.

edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.

You didnt get the whole economy/money thing what I wrote about.
Deflationary coins are bullshit when people realize that the marked stales.

Bitcoin is bullshit? Nextcoin is bullshit? News to me.

-_- maybe try with reading my posts.

But your posts seem rather pessimistic, with nothing concrete to support the claims. In other words... FUD. Perhaps you will be right, but lets just wait and see what happens.. Only time will tell.

I backed them up with comparing to existing commodities and currencies and even actual politics, that try to keep their money fluid. I recently read a good article why deflation is poison for a economy, unfortunately it's in german so hard to quote here. Although, money (currencies) need fluid flow because they have no physical value when they are not a medium for transactions while commodities like gold or raw goods have physical value and are consumed this way. You can not do anything with coins besides spending them, and if you don't, they are as worthless as the physical value of the papersheets in your pocket that you can as well use decorating your walls if you are not going to spend them.

LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.

[Sylon]

On which day the coin will be in PoS ?

[David Latapie]

LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.

And we are working on that part. And more.

[rmoraos]

LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.

And we are working on that part. And more.

You are doing a great job, David 

[broken_pixel]

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

It is orphaned means someone else mined it before you did.

[mr_random]

LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.

I did some rough math and it works out at 10 million mintcoins generated a day by POS across the entire network. 10 million mintcoins is valued at 2 btc approximately right now.

[braytz]

On which day the coin will be in PoS ?

this is the first day 100% pos.

[mintcointeam]

Wallet 1.5 for Windows released! (Not mandatory)

-latest checkpoints
-hi cpu load fix (thanks paspi!)
-lock/unlock button (thanks Unek!)

https://mega.co.nz/#!wR4inSJT!YHraTK_6a9txFDe_PPgxGzwD6h6j_kCQe6V65cfEEIw
Mirror

[sidhujag]

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.

Lol you havent learned a thing have you? And im the noob? Go back to school with your elementary thoughts

[broken_pixel]

Wallet 1.5 for Windows released! (Not mandatory)

-latest checkpoints
-hi cpu load fix (thanks paspi!)
-lock/unlock button (thanks Unek!)

https://mega.co.nz/#!wR4inSJT!YHraTK_6a9txFDe_PPgxGzwD6h6j_kCQe6V65cfEEIw
Mirror

Thanks! Updating. Oh, in case anyone forgets. FULL PoS : Started.

[sidhujag]

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.

Not an agenda Im genuinely interested in the economics of different coins.. read my posts.. I believe there will be a few alts that will make it out of the dust because they conform to the world not the other way around. If you can speak against my arguments for a good coin please discuss.. Id be happy to read.

[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?

helppppppp

[suchnoob]

What's going on @ Cryptsy? Markets seem frozen. Don't place bids.

[DrFingol]

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?

helppppppp

The only "installation" that takes place is the MintCoin folder being created in the Roaming directory. Use the search function and search for %appdata% - you should find the "Roaming" folder. Open it and check for a folder called MintCoin, is it there? Then everything should be in working order.

[Party Hard]

On which day the coin will be in PoS ?

Today

[Party Hard]

Wallet 1.5 for Windows released! (Not mandatory)

-latest checkpoints
-hi cpu load fix (thanks paspi!)
-lock/unlock button (thanks Unek!)

https://mega.co.nz/#!wR4inSJT!YHraTK_6a9txFDe_PPgxGzwD6h6j_kCQe6V65cfEEIw
Mirror

Awesome! Can't wait for the 1.5 Linux build!!

This should shut up some of the haters claiming that the dev team is AWOL.

[philipvdlinde]

Wallet 1.5 for Windows released! (Not mandatory)

-latest checkpoints
-hi cpu load fix (thanks paspi!)
-lock/unlock button (thanks Unek!)

https://mega.co.nz/#!wR4inSJT!YHraTK_6a9txFDe_PPgxGzwD6h6j_kCQe6V65cfEEIw
Mirror

Awesome! Can't wait for the 1.5 Linux build!!

This should shut up some of the haters claiming that the dev team is AWOL.

Is the wallet with that nice skin in the making?

[bwcainmay]

Wallet 1.5 for Windows released! (Not mandatory)

-latest checkpoints
-hi cpu load fix (thanks paspi!)
-lock/unlock button (thanks Unek!)

https://mega.co.nz/#!wR4inSJT!YHraTK_6a9txFDe_PPgxGzwD6h6j_kCQe6V65cfEEIw
Mirror

I'm still on 1.3. Do you recommend using the updated version or am I still ok? I have mine encrypted so I really don't want to mess with it if I don't have to.
Thanks!