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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1332860 times)
hadi
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March 14, 2014, 11:29:30 PM
 #8561

I had not seen,sorry .Tnx all.
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March 14, 2014, 11:33:40 PM
 #8562

Same is with BC traded BC don't generate income. So inflation will be <1% BC and Mint <20%. I think rates will be same.
But mint coins purpose is to mint it... and get that 20% so probably it will be 15%-18%. we will see at end of year.

2nd question Smiley i have analyzed that case lets give numbers:
in best case max inflation ^^
1% BC - Now this is about 0,04 New/BTC day to buy all new
20% Mint - Now this is only 2.3 BTC day to buy all new
~10% Doge 540 BTC Day
10% BTC 3600  BTC Day - 2.3m $ all new
20% LTC 28800 LTC Day - 0,9M $ all new

"How fast do PoW coins inflate due to mining? I would say it is roughly equivalent to a PoS coin. " -look up ^^


As you see some coins need to be popular to not drop price BC,Mint don't need much attention to keep price.
Pow coins due to other type of distribution can lose value very fast just because when miners aren't well paid price fall.
POS system is bit different than POW dystrybution 1st POS NXT wasn't good example just because 75% of coins never reached market.
In reality with BC with 0 premine we will see how can 100% POS system can behave on market.
This coin is 1st with 0 premine it will be better example than Premined / IPO other ones.
We will see how market will be different that Mint,Zeit,Ultra,Battlecoin,CGB... with some amount premined before.
How marketing factor from IPO/Premine money have influence on price ^^ in long short therm.

Anyway as you see to from my analyze BC or Mint with some BTC or $ injected inside can grow in same time POW needs High amounts of money
to keep price.

I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.

Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.

Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.

What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.

And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.

So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.

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March 14, 2014, 11:42:51 PM
 #8563

Translation: I now have a bunch of Blackcoin and would like everyone invested in Mint to sell and buy Blackcoin so I can make more money.

But seriously, I won't defend the points you made against Developer, he can do that himself. There has been active development on Mintcoin though, and merchants continue to be added.

Edit: I would also like to add that 20% is not to high at all, and in fact gives people who don't have mining equipment a chance to effectively mine coins just by owning them.

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March 14, 2014, 11:57:47 PM
 #8564

I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.

Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.

Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.

What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.

And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.

So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.

Thanks for posting this. It shows how desperate you are at pumping Blackcoin. Your efforts are futile and even work against you. People will read your post and avoid Blackcoin like the plague. I will definitely not support Blackcoin any longer because of your post. In fact, your post has convinced me to dump all of my Blackcoins and I will be picking up some more Mintcoins for cheap. Watch for the price of Blackcoin to drop on Mintpal as I dump them, I do have quite a few. Here's to a small push up in price of Mintcoin on Mintpal.

If my post has helped you in some way, please consider donating-Blackcoin: BRJLA6cgXyyYaDfetVoSpo8pNmQDRAfuPA
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March 15, 2014, 12:02:50 AM
 #8565

admin ? why i am unable to recieve POS reward?!! (nothing at all )

Alright, now I have to say it..WTF! I've tried to help you figure this out, as have others, and you never reply to us. So WTF?!!!

Are you leaving your wallet open long enough?

Have you held you coins for 20 days without moving them?

Are you upgraded to the latest wallet?


1.No,open and unloock with "walletpassphrase myPW 999999999 true" , sync and next backup it and close ( maximum 10 15 min each day)

2.exactly 21 days

3.version MintCoin14


Hadi, you might want to try updating to version 1.5
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March 15, 2014, 12:05:16 AM
 #8566

I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.

Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.

Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.

What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.

And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.

So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.

Thanks for posting this. It shows how desperate you are at pumping Blackcoin. Your efforts are futile and even work against you. People will read your post and avoid Blackcoin like the plague. I will definitely not support Blackcoin any longer because of your post. In fact, your post has convinced me to dump all of my Blackcoins and I will be picking up some more Mintcoins for cheap. Watch for the price of Blackcoin to drop on Mintpal as I dump them, I do have quite a few. Here's to a small push up in price of Mintcoin on Mintpal.

I "pump" Blackcoin no more than anyone in this topic "pumps" Mintcoin. In otherwords, I support Blackcoin. Are you not concerned that the Mintcoin dev refused to list how he spent the hundreds of BTC he made from the premine on bounties and Mintcoin development? Why do you think that is? Blackcoin on the other hand has no premine yet has accomplished more innovative development and more buzz (bcmultipool). And any bounties are clearly and transparently listed and awarded out publicly.

I lost all faith in this coin when the greedy Mintcoin dev asked for 5 million MINT donation from the community to work on a Mint <-> USD exchange, after he's already received 700 million MINT premine.

I only post this here because I was a big Mintcoin supporter. You should thank me because it might kick the developer into action.


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March 15, 2014, 12:09:44 AM
 #8567

I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.

Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.

Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.

What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.

And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.

So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.

Thanks for posting this. It shows how desperate you are at pumping Blackcoin. Your efforts are futile and even work against you. People will read your post and avoid Blackcoin like the plague. I will definitely not support Blackcoin any longer because of your post. In fact, your post has convinced me to dump all of my Blackcoins and I will be picking up some more Mintcoins for cheap. Watch for the price of Blackcoin to drop on Mintpal as I dump them, I do have quite a few. Here's to a small push up in price of Mintcoin on Mintpal.

Apart for the Mint/blackcoin war ...
20% inflation and then after 4 years 5% per year forever is insane.
If you really believe in this coin for the long term and it becomes a worldwide currency it will be a worse plague than fiat.
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March 15, 2014, 12:11:57 AM
 #8568

It's not forever, it's until 70 Billion...which is a long way off

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mgburks77
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March 15, 2014, 12:16:19 AM
 #8569

USD inflates at about 8% annually, on average

also 20% minting on all coins unmoved for 20 days or more will not create a "20% inflation rate". Those are weasel words.A more rational outlook says maybe a quarter of the existing coins will actually do any substantial minting. When the minting is at 5% and only 25% or so of existing coins are actully doing any substantial minting that will be about the right amount of inflation to maintain liquidity, around 2%

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March 15, 2014, 12:18:04 AM
 #8570

USD inflates at about 8% annually, on average

also 20% minting on all coins unmoved for 20 days or more will not create a "20% inflation rate". Those are weasel words.A more rational outlook says maybe a quarter of the existing coins will actually do any substantial minting. When the minting is at 5% and only 25% or so of existing coins are actully doing any substantial minting that will be about the right amount of inflation to maintain liquidity, around 2%



You took the words right out of my mouth.
mgburks77
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March 15, 2014, 12:19:21 AM
 #8571

guise

these FUDsters are the ones holding the price down. They are waiting for the weak hands to shake out and they will collect a bunch more cheap coins.

Don't play into their hands
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March 15, 2014, 12:19:57 AM
 #8572

USD inflates at about 8% annually, on average

also 20% minting on all coins unmoved for 20 days or more will not create a "20% inflation rate". Those are weasel words.A more rational outlook says maybe a quarter of the existing coins will actually do any substantial minting. When the minting is at 5% and only 25% or so of existing coins are actully doing any substantial minting that will be about the right amount of inflation to maintain liquidity, around 2%



You took the words right out of my mouth.

great minds think alike.  Wink
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March 15, 2014, 12:23:07 AM
 #8573

I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.

Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.

Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.

What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.

And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.

So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.

Thanks for posting this. It shows how desperate you are at pumping Blackcoin. Your efforts are futile and even work against you. People will read your post and avoid Blackcoin like the plague. I will definitely not support Blackcoin any longer because of your post. In fact, your post has convinced me to dump all of my Blackcoins and I will be picking up some more Mintcoins for cheap. Watch for the price of Blackcoin to drop on Mintpal as I dump them, I do have quite a few. Here's to a small push up in price of Mintcoin on Mintpal.

Apart for the Mint/blackcoin war ...
20% inflation and then after 4 years 5% per year forever is insane.
If you really believe in this coin for the long term and it becomes a worldwide currency it will be a worse plague than fiat.

respect...MINT is the father!!!!!
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March 15, 2014, 12:24:39 AM
 #8574

Apart for the Mint/blackcoin war ...
20% inflation and then after 4 years 5% per year forever is insane.
If you really believe in this coin for the long term and it becomes a worldwide currency it will be a worse plague than fiat.
It won't be 20% inflation, but less than that because that 20% presumes that 100% of the coins will sit quietly and acquire coin age, which is false.

Even at 5%, if this were possible, it is less than the inflation of the money supply. If you think that cryptos and altcoins are worse than fiat, then you have no idea how central banks and the debt-money scam works.

http://www.youtube.com/watch?v=iFDe5kUUyT0

If my post has helped you in some way, please consider donating-Blackcoin: BRJLA6cgXyyYaDfetVoSpo8pNmQDRAfuPA
stormia
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March 15, 2014, 12:33:53 AM
 #8575

Same is with BC traded BC don't generate income. So inflation will be <1% BC and Mint <20%. I think rates will be same.
But mint coins purpose is to mint it... and get that 20% so probably it will be 15%-18%. we will see at end of year.

2nd question Smiley i have analyzed that case lets give numbers:
in best case max inflation ^^
1% BC - Now this is about 0,04 New/BTC day to buy all new
20% Mint - Now this is only 2.3 BTC day to buy all new
~10% Doge 540 BTC Day
10% BTC 3600  BTC Day - 2.3m $ all new
20% LTC 28800 LTC Day - 0,9M $ all new

"How fast do PoW coins inflate due to mining? I would say it is roughly equivalent to a PoS coin. " -look up ^^


As you see some coins need to be popular to not drop price BC,Mint don't need much attention to keep price.
Pow coins due to other type of distribution can lose value very fast just because when miners aren't well paid price fall.
POS system is bit different than POW dystrybution 1st POS NXT wasn't good example just because 75% of coins never reached market.
In reality with BC with 0 premine we will see how can 100% POS system can behave on market.
This coin is 1st with 0 premine it will be better example than Premined / IPO other ones.
We will see how market will be different that Mint,Zeit,Ultra,Battlecoin,CGB... with some amount premined before.
How marketing factor from IPO/Premine money have influence on price ^^ in long short therm.

Anyway as you see to from my analyze BC or Mint with some BTC or $ injected inside can grow in same time POW needs High amounts of money
to keep price.

I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.

Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.

Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.

What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.

And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.

So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.

Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time but since both coins experience this the effect should be equivalent for each when weighted relative to the time spent in PoW for each.

Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.





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March 15, 2014, 12:33:58 AM
 #8576

Before anyone decides to sell at such a low price take into account how highly marketable this coin really is. Just take a look at the growing number of Merchants that accept this coin compared to others and it should give you an idea of the growth potential.
I didn't compare the number of merchant with other coins. Do you have some numbers for comparison purpose?

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March 15, 2014, 12:38:31 AM
 #8577

So, as we know the POW/mining of mint has stopped now. But we could donate 2% of all future staked coins into the "mint foundation" for charity purposes.
Interesting idea. We will investigate it. No mandatory donation, for sure, but still something worth investigating.

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March 15, 2014, 12:42:03 AM
 #8578

Will the Mintcoin wallet have some sort of indicator regarding minting, similar to Blackcoin? See the little up arrow on the BC wallet here. http://imgur.com/9z7DxYQ


Please post your ideas here
http://www.mintcointalk.com/index.php/topic,263.msg773.html#msg773

If it is not centralised, we can not ensure it will be catalogued.

Monero: the first crytocurrency to bring bank secrecy and net neutrality to the blockchain.HyperStake: pushing the limits of staking.
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March 15, 2014, 12:45:19 AM
 #8579


I dumped all my MINT for Blackcoin days ago. The MINT dev refused to tell us what he spent the 700 million MINT on. That was worth hundreds of BTC at the peak of MINT price.

Compare that to Blackcoin. ZERO premine yet Blackcoin still has a more transparent list of bounties. And even without 100 BTC of premine, Blackcoin is bringing more innovation to the table eg bcmultipool.

Then there is the fact MINT has 20% interest rate. Even the most hardened MINTer will admit that is too high.

What was the nail in coffin for me with MINT was the fact they put a super shitty logo on the mintcoin subreddit when there were much better ones. I find it fishy that won the community vote when almost everyone complained about it after it was chosen and nothing changed. Plus read through the devs comments on reddit and here, he was writing stuff like "Lol sell" and can't be bothered to work when the price was dropping and people were asking him questions and basically wanting reassurance.

And there's the fact MINT dev keeps saying mintcoin has nothing to do with Mintpal. Sorry don't believe that for various reasons.

So i've switched to Blackcoin. It's basically the coin mintcoin should have been imo.

Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time

Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.


That's all just assumption and hand waving. I'm dealing with the cold hard facts here. Rather than counter my points you want to focus on hand waving and silly assumptions that can be manipulated to either of our benefit.

But entertaining you for a second if you consult mintcoinrichlist.com and the blackcoin richlist: http://agran.net/bc_getbalance.php?top=100

As of five minutes ago the top 29 mintcoin addresses hold 30% of all mintcoins. And calculating for blackcoin we see the top 28 blackcoin addresses hold 30% of all blackcoins.

That is remarkably similar. Regardless, the distribution in both of them will only grow over time. I have no concern about such matters and don't want to get dragged into a pointless discussion about it since the facts can be twisted too easily. Wink

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March 15, 2014, 12:48:29 AM
 #8580

Apart for the Mint/blackcoin war ...
20% inflation and then after 4 years 5% per year forever is insane.
If you really believe in this coin for the long term and it becomes a worldwide currency it will be a worse plague than fiat.
It won't be 20% inflation, but less than that because that 20% presumes that 100% of the coins will sit quietly and acquire coin age, which is false.

Even at 5%, if this were possible, it is less than the inflation of the money supply. If you think that cryptos and altcoins are worse than fiat, then you have no idea how central banks and the debt-money scam works.

http://www.youtube.com/watch?v=iFDe5kUUyT0

Was that to subtle for you? Probably.
If there is no actually 20% then somebody change this:

Quote
which gives the highest payout at 20% the first year, then decrease 5% per year until the 4th year it reaches annual interest rate of 5%, then it will remain at this rate.
And explain in a few words about the max and min.

And I do hope the coding is right and we don't end like DOGE who turned to inflation overnight due to dizzy devs.
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