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niothor
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March 15, 2014, 01:20:21 AM |
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Too much to quote above
Okay, you got me there, I should never say never. I guess that means you can't predict the future either.. soo why are you here spreading FUD?
Also, perhaps I was trying to reuse your use of "irony". Which really wasn't ironic at all- people misuse that word a lot... I would be more akin to calling it sarcasm.
I'm not spreading FUD. I see suddenly that the incoming amount of possible money might dilute my % pie. Also , inflation coins are not always seen with good eyes here on this forum. Remember , bitcoin was created and has grown because of it (one of the reasons). Secondary I always advise on use , not holding (apart when shit news are entering the horizon and sheep panic). I've got caught in something I suddenly , because i didn't pay to much attention to it , don't like it. And I'm a bad loser sometimes. |
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stormia
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March 15, 2014, 01:24:57 AM |
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Too much to quote above
Okay, you got me there, I should never say never. I guess that means you can't predict the future either.. soo why are you here spreading FUD?
Also, perhaps I was trying to reuse your use of "irony". Which really wasn't ironic at all- people misuse that word a lot... I would be more akin to calling it sarcasm.
I'm not spreading FUD. I see suddenly that the incoming amount of possible money might dilute my % pie. Also , inflation coins are not always seen with good eyes here on this forum. Remember , bitcoin was created and has grown because of it (one of the reasons). Secondary I always advise on use , not holding (apart when shit news are entering the horizon and sheep panic). I've got caught in something I suddenly , because i didn't pay to much attention to it , don't like it. And I'm a bad loser sometimes. Lol I wish you would have been here a few days ago when somebody came on here talking about how Mintcoin is doomed because it is too deflationary... I'll scrape up the post if I get the chance. |
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CatKiwi
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March 15, 2014, 01:26:24 AM |
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Just wait for Blackcoin to crash - once that dump occurs, and it WILL occur, there will be hundreds of bitcoin on Mintpal in the hands of traders who have got the bug for making quick cash. There are only a few real opportunities to make money on the currencies listed on Mintpal - MINT has shown what it is capable off when invested in en masse, I have no doubt it will happen again.
Contrary to what many here are claiming, most of the sells for MINT in the past say 48 hours have nothing to do with perceived shortcomings in the coin - they are simply average joes cashing out in the hope that they can ride the Blackcoin and HVC (to a degree) bandwagon, make a bit of profit, then buy make MORE Mint after.
This coin has growing merchant support, it has been stable around 18,19,20 even though many millions have been flogged off, it's in good shape.
If your not happy with the return you get MINTING the solution is to buy more MINT - The more you have the faster you mint!
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Ferris419
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March 15, 2014, 01:30:15 AM |
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Just wait for Blackcoin to crash - once that dump occurs, and it WILL occur, there will be hundreds of bitcoin on Mintpal in the hands of traders who have got the bug for making quick cash. There are only a few real opportunities to make money on the currencies listed on Mintpal - MINT has shown what it is capable off when invested in en masse, I have no doubt it will happen again.
Contrary to what many here are claiming, most of the sells for MINT in the past say 48 hours have nothing to do with perceived shortcomings in the coin - they are simply average joes cashing out in the hope that they can ride the Blackcoin and HVC (to a degree) bandwagon, make a bit of profit, then buy make MORE Mint after.
This coin has growing merchant support, it has been stable around 18,19,20 even though many millions have been flogged off, it's in good shape.
If your not happy with the return you get MINTING the solution is to buy more MINT - The more you have the faster you mint!
I have to agree with you about mint is a strong coin with a strong backing I just threw a million in my wallet and I'm gonna hold on to em for atleast a few months I don't see this coin dying off atleast not anytime soon! |
Bitcoin is gonna hit 100K usd
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stormia
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March 15, 2014, 01:33:59 AM |
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I just downloaded the wallet 1.5 and installed it on my computer, as soon as I opened it all my addresses were already contained. Is that normal? I keep hearing people talk about how they have to manually import their wallet.dat and that is what I was expecting.. Is that only if you lost or deleted your previous wallet? I didn't delete my wallet 1.4 before installing the new one.
Thanks,
Any info would be appreciated.
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mgburks77
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March 15, 2014, 01:38:22 AM |
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I just downloaded the wallet 1.5 and installed it on my computer, as soon as I opened it all my addresses were already contained. Is that normal? I keep hearing people talk about how they have to manually import their wallet.dat and that is what I was expecting.. Is that only if you lost or deleted your previous wallet? I didn't delete my wallet 1.4 before installing the new one.
Thanks,
Any info would be appreciated.
No it will find them |
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Party Hard
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March 15, 2014, 01:43:06 AM
Last edit: March 15, 2014, 02:45:07 AM by Party Hard |
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I just downloaded the wallet 1.5 and installed it on my computer, as soon as I opened it all my addresses were already contained. Is that normal? I keep hearing people talk about how they have to manually import their wallet.dat and that is what I was expecting.. Is that only if you lost or deleted your previous wallet? I didn't delete my wallet 1.4 before installing the new one.
Thanks,
Any info would be appreciated.
Backing up your wallet.dat is good practice for when the unanticipated and unfortunate happen. If you live a charmed life you'll never have to resort to your backed up wallet.dat though. You're like most people that upgrade with zero issue. Pour yourself a beer and watch your mints come rolling in. |
Ladies ladies, one at a time.
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mgburks77
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March 15, 2014, 01:45:50 AM |
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USD inflates at about 8% annually, on average Sources? (I believe you, I just would like it backed up by sources). CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
http://www.policymic.com/articles/4952/is-america-hiding-its-true-inflation-rate-and-could-the-u-s-be-as-insolvent-as-greece8% is a pretty standard estimate of the annual USD inflation rate. Kind of a rule of thumb. |
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Jherek
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March 15, 2014, 01:48:21 AM |
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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=iFDe5kUUyT0Was that to subtle for you? Probably. If there is no actually 20% then somebody change this: 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. I still think, inflation is the right way to go. Currencies need inflation unlike commodities like gold that live on deflation. But virtual currencies are no gold, they have no use when not spend. PS: I am really puzzled, that bc is going where mintcoin was supposed to: price increase since pos. Maybe I'd end up dumping my mint too. |
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Party Hard
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March 15, 2014, 01:49:56 AM |
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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. He never did and you know it (could someone less tired than me (it is pretty late in my timezone) just find the permalink?) plus, he announced several fiat exchanges on this list. What I said about intellectual honesty still hold true. You know, since the price is pretty stable, you can still day-trade for mintcoins and be back in the game without bitterness  |
Ladies ladies, one at a time.
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niothor
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March 15, 2014, 01:52:21 AM |
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USD inflates at about 8% annually, on average Sources? (I believe you, I just would like it backed up by sources). CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
http://www.policymic.com/articles/4952/is-america-hiding-its-true-inflation-rate-and-could-the-u-s-be-as-insolvent-as-greece8% is a pretty standard estimate of the annual USD inflation rate. Kind of a rule of thumb. Lots of FUD in the article , a lot less in the original....the 8% is to some commodities , and to some only 0.0x%. More detailed stuff please or I won't even bother to argue anymore. |
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mgburks77
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March 15, 2014, 01:53:23 AM |
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USD inflates at about 8% annually, on average Sources? (I believe you, I just would like it backed up by sources). CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
http://www.policymic.com/articles/4952/is-america-hiding-its-true-inflation-rate-and-could-the-u-s-be-as-insolvent-as-greece8% is a pretty standard estimate of the annual USD inflation rate. Kind of a rule of thumb. Lots of FUD in the article , a lot less in the original....the 8% is to some commodities , and to some only 0.0x%. More detailed stuff please or I won't even bother to argue anymore. pfft whatever |
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Jeezy911
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March 15, 2014, 01:57:29 AM |
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All other minable scrypt coins may be in trouble now with this blackcoin multipool. Mint can be saved but we need a multipool as well, its a perfect candidate.
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XbladeX
Legendary
 Offline
Activity: 1302
Merit: 1002
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March 15, 2014, 02:04:13 AM |
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....
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.
After Mint Dev probably dumped premine you should see that premining really have matters... It can break trust to coin... How many guys here comes here read complains about it and are loosing faith in Mint ? You have here example why premine have influence. Early POS stakeholders have to pay from own pocked for development if they don't pay/donate coin will fall down. Price doesn't matter so much like people who are involved in project biggest BC value are people arround they have to rise value of coin because is 0 premine. With premine all thinks that Dev should do everything for them because he has premined for coins.(sadly this is true...) There is definitely diffrece betwen premine - IPO -or 0 premine. About mining and distribution look: 10 days regular mining with fixed amount 1000 BC vs 5x7day with halving I like numbers ^^ 500000 60 24 7 5040000000 250000 60 24 3 1080000000 6120000000 (~amount of mint after 10 days ) 250000 60 24 4 1440000000 125000 60 24 7 1260000000 62500 60 24 7 630000000 31250 60 24 7 315000000 3645000000 (~amount of mint from 11-35 day) So as you see Mint have mined 62% of all coins in 10 days... and 38% in next 25... BC mined all 100% in 10 days. (Dev has chosen 10 day without halving i don't blame him it could be better or it could be worst). But saying that Mint distribution is like 5x better than BC is not the best comparison. How you feel when you start mine Mint in last week and knowing how much at beginning people were mining ? (just rhetorical question ^^...) 1st day BC had 3GHs 2nd 6Ghs....5day 50Ghs(peak)..and 10-20Ghs to end. You know what is 50Ghs. |
Request / 26th September / 2022 APP-06-22-4587
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XbladeX
Legendary
Offline
Activity: 1302
Merit: 1002
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March 15, 2014, 02:10:14 AM |
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USD inflates at about 8% annually, on average Sources? (I believe you, I just would like it backed up by sources). CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
http://www.policymic.com/articles/4952/is-america-hiding-its-true-inflation-rate-and-could-the-u-s-be-as-insolvent-as-greece8% is a pretty standard estimate of the annual USD inflation rate. Kind of a rule of thumb. Lots of FUD in the article , a lot less in the original....the 8% is to some commodities , and to some only 0.0x%. More detailed stuff please or I won't even bother to argue anymore. In Poland i have high 3,5% inflation US have much bigger economy... look on article data. I think is more accurate don't look on crisis it can bring miss understanding to normal situation to low inf. http://www.inflation.eu/inflation-rates/united-states/historic-inflation/cpi-inflation-united-states.aspxInflation is more or less equal to interest in banks ! : D |
Request / 26th September / 2022 APP-06-22-4587
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CatKiwi
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March 15, 2014, 02:13:39 AM |
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....
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.
After Mint Dev probably dumped premine you should see that premining really have matters... It can break trust to coin... How many guys here comes here read complains about it and are loosing faith in Mint ? You have here example why premine have influence. Early POS stakeholders have to pay from own pocked for development if they don't pay/donate coin will fall down. Price doesn't matter so much like people who are involved in project biggest BC value are people arround they have to rise value of coin because is 0 premine. With premine all thinks that Dev should do everything for them because he has premined for coins.(sadly this is true...) There is definitely diffrece betwen premine - IPO -or 0 premine. About mining and distribution look: 10 days regular mining with fixed amount 1000 BC vs 5x7day with halving I like numbers ^^ 500000 60 24 7 5040000000 250000 60 24 3 1080000000 6120000000 (~amount of mint after 10 days ) 250000 60 24 4 1440000000 125000 60 24 7 1260000000 62500 60 24 7 630000000 31250 60 24 7 315000000 3645000000 (~amount of mint from 11-35 day) So as you see Mint have mined 62% of all coins in 10 days... and 38% in next 25... BC mined all 100% in 10 days. (Dev has chosen 10 day without halving i don't blame him it could be better or it could be worst). But saying that Mint distribution is like 5x better than BC is not the best comparison. How you feel when you start mine Mint in last week and knowing how much at beginning people were mining ? (just rhetorical question ^^...) 1st day BC had 3GHs 2nd 6Ghs....5day 50Ghs(peak)..and 10-20Ghs to end. You know what is 50Ghs. Stopped reading there. Take your baseless accusations elsewhere. We know you want to buy cheap MINT but claims such as that are unacceptable. |
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stormia
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March 15, 2014, 02:16:11 AM |
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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=iFDe5kUUyT0Was that to subtle for you? Probably. If there is no actually 20% then somebody change this: 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. I still think, inflation is the right way to go. Currencies need inflation unlike commodities like gold that live on deflation. But virtual currencies are no gold, they have no use when not spend. PS: I am really puzzled, that bc is going where mintcoin was supposed to: price increase since pos. Maybe I'd end up dumping my mint too. Their multipool must be helping. We really ought to do the same!! Keep in mind though, that when BC first switched over to pure PoS the price fell from above 2000 to below 1000 (I remember because I bought some BC at 2000). |
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mgburks77
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March 15, 2014, 02:17:40 AM |
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But what Bernanke will never admit is that the official inflation rate is a total sham. The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is.
If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.
But instead, Bernanke can get away with claiming that inflation is "too low" because the official government numbers back him up. http://theeconomiccollapseblog.com/archives/inflation-is-too-low-are-you-kidding-us-bernanke |
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stormia
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March 15, 2014, 02:18:28 AM |
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All other minable scrypt coins may be in trouble now with this blackcoin multipool. Mint can be saved but we need a multipool as well, its a perfect candidate.
+1! I think that would benefit mintcoin a lot. |
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niothor
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March 15, 2014, 02:21:10 AM |
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But what Bernanke will never admit is that the official inflation rate is a total sham. The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is.
If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.
But instead, Bernanke can get away with claiming that inflation is "too low" because the official government numbers back him up. http://theeconomiccollapseblog.com/archives/inflation-is-too-low-are-you-kidding-us-bernanketheeconomiccollapseblog Of Really? |
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