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

[DougB62]

yes we all know there are other coins thisisit..  that is your reason for being here and being a tool

"...being a tool"  +1!

[rmoraos]

time to wake up. dreamland is over. mintcoin has a serious flaw that is now showing.

nothing can be done about it if devs dont step up, it will be over soon.

withdraw everything from exchanges.

i will buy at 1!

community dies.

I'll bite. What is the serious flaw.

what is the serious flaw? you send your mints to exchanges, they store them in hot and cold wallets... they mint away, interest absurd high, they autosell their minted coins.

free btc.

it was doomed when it launched.

bad design.

it will go 1 satoshi.

You are assuming that a significant number of people leave his mintcoins more than 20 days. In Blackcoin it is possible this scenary because the minimum time to mint is 8 hours, in mintcoin is very improbable.

[thisisit]

yes we all know there are other coins thisisit..  that is your reason for being here and being a tool

"...being a tool"  +1!

 i will laugh last.

[dragonseer]

time to wake up. dreamland is over. mintcoin has a serious flaw that is now showing.

nothing can be done about it if devs dont step up, it will be over soon.

withdraw everything from exchanges.

i will buy at 1!

community dies.

I'll bite. What is the serious flaw.

what is the serious flaw? you send your mints to exchanges, they store them in hot and cold wallets... they mint away, interest absurd high, they autosell their minted coins.

free btc.

it was doomed when it launched.

bad design.

it will go 1 satoshi.

So... Why are people keeping it in exchanges? I just bought some at 0.00000012 and it's going straight to my wallet

[mgburks77]

I removed all my holdings from all exchanges and doubt I'll be putting any back on unless there is some significant change in how that business is conducted.

I'm still bullish on MINT, and crypto in general, because digital currency is no more going away than firemaking or tool use are going away. It's a valid technical innovation and it is here to stay. MINT is a superior form of crypto because of the green nature of PoS and the minting process. It's scalable for mass adoption so I think it is a good contender for becoming a currency of actual utilitarian value some day.

One thing standing in the way of that day is all of the scammers, manipulators, pump and dumpers etc that create volatility in the market. But that is the nature of risk. Marco Polo went to the see the Great Khan, that's taking a risk in trading. Putting a few thou into crypto to see if it works out down the road is nothing in comparison.  

it has no future if the flaw isnt addressed. it generates too many coins without cost.

That's not a problem for a currency that is viable for mass adoption

It is a problem for day traders and exchanges that want short term profits

[sidhujag]

I removed all my holdings from all exchanges and doubt I'll be putting any back on unless there is some significant change in how that business is conducted.

I'm still bullish on MINT, and crypto in general, because digital currency is no more going away than firemaking or tool use are going away. It's a valid technical innovation and it is here to stay. MINT is a superior form of crypto because of the green nature of PoS and the minting process. It's scalable for mass adoption so I think it is a good contender for becoming a currency of actual utilitarian value some day.

One thing standing in the way of that day is all of the scammers, manipulators, pump and dumpers etc that create volatility in the market. But that is the nature of risk. Marco Polo went to the see the Great Khan, that's taking a risk in trading. Putting a few thou into crypto to see if it works out down the road is nothing in comparison.  

it has no future if the flaw isnt addressed. it generates too many coins without cost.

At 10 sat's it would take about 2 months to overturn the current supply at about 30 btc vol a day... so I would say its gonna take 2 months to weed out the weak holders... and then that is if any new alt hasn't come and taken mint's position in the market by then... alot of new coins doing the same thing as mint, mining early to hoard and then block inflation to minimum... I don't see how its gonna be bullish long term as no true investor will buy to hold it when there are people holding billions at almost no cost, why would a smart investor be the pig when hes made  a living slaughtering dumb money? I do think you can make money off of swings though... just unless there are major breakthroughs in development I don't see it going anywhere... there is still the technical challenge of proving that POS itself can work on its own that the bitcoin community hasn't proven yet...

[ahbartsch]

time to wake up. dreamland is over. mintcoin has a serious flaw that is now showing.

nothing can be done about it if devs dont step up, it will be over soon.

withdraw everything from exchanges.

i will buy at 1!

community dies.

I'll bite. What is the serious flaw.

what is the serious flaw? you send your mints to exchanges, they store them in hot and cold wallets... they mint away, interest absurd high, they autosell their minted coins.

free btc.

it was doomed when it launched.

bad design.

it will go 1 satoshi.

I wouldn't necessarily call that a flaw. The average user is only going to have Mintcoins on the exchange for a short period of time to either buy or sell. It is the day traders who take this risk more than anyone that benefits the exchange. They are taking the risk that they can make more money day trading than to take the coins off and receive interest.

By your words, any Proof of Stake coin is doomed to fail because of this "flaw". I will have to respectfully disagree with your way of thinking. Granted that yes, the interest is rather high right now, benefiting large stake holders, which is causing the market to discover the right price. This should balance out as market forces take effect.

[mgburks77]

I removed all my holdings from all exchanges and doubt I'll be putting any back on unless there is some significant change in how that business is conducted.

I'm still bullish on MINT, and crypto in general, because digital currency is no more going away than firemaking or tool use are going away. It's a valid technical innovation and it is here to stay. MINT is a superior form of crypto because of the green nature of PoS and the minting process. It's scalable for mass adoption so I think it is a good contender for becoming a currency of actual utilitarian value some day.

One thing standing in the way of that day is all of the scammers, manipulators, pump and dumpers etc that create volatility in the market. But that is the nature of risk. Marco Polo went to the see the Great Khan, that's taking a risk in trading. Putting a few thou into crypto to see if it works out down the road is nothing in comparison.  

it has no future if the flaw isnt addressed. it generates too many coins without cost.

At 10 sat's it would take about 2 months to overturn the current supply at about 30 btc vol a day... so I would say its gonna take 2 months to weed out the weak holders... and then that is if any new alt hasn't come and taken mint's position in the market by then... alot of new coins doing the same thing as mint, mining early to hoard and then block inflation to minimum... I don't see how its gonna be bullish long term as no true investor will buy to hold it when there are people holding billions at almost no cost, why would a smart investor be the pig when hes made  a living slaughtering dumb money? I do think you can make money off of swings though... just unless there are major breakthroughs in development I don't see it going anywhere... there is still the technical challenge of proving that POS itself can work on its own that the bitcoin community hasn't proven yet...

So in other words, keep trading.

 

[rmoraos]

I removed all my holdings from all exchanges and doubt I'll be putting any back on unless there is some significant change in how that business is conducted.

I'm still bullish on MINT, and crypto in general, because digital currency is no more going away than firemaking or tool use are going away. It's a valid technical innovation and it is here to stay. MINT is a superior form of crypto because of the green nature of PoS and the minting process. It's scalable for mass adoption so I think it is a good contender for becoming a currency of actual utilitarian value some day.

One thing standing in the way of that day is all of the scammers, manipulators, pump and dumpers etc that create volatility in the market. But that is the nature of risk. Marco Polo went to the see the Great Khan, that's taking a risk in trading. Putting a few thou into crypto to see if it works out down the road is nothing in comparison.  

it has no future if the flaw isnt addressed. it generates too many coins without cost.

At 10 sat's it would take about 2 months to overturn the current supply at about 30 btc vol a day... so I would say its gonna take 2 months to weed out the weak holders... and then that is if any new alt hasn't come and taken mint's position in the market by then... alot of new coins doing the same thing as mint, mining early to hoard and then block inflation to minimum... I don't see how its gonna be bullish long term as no true investor will buy to hold it when there are people holding billions at almost no cost, why would a smart investor be the pig when hes made  a living slaughtering dumb money? I do think you can make money off of swings though... just unless there are major breakthroughs in development I don't see it going anywhere... there is still the technical challenge of proving that POS itself can work on its own that the bitcoin community hasn't proven yet...

PPC was the first that proved that POS works. What is your point ?

[sidhujag]

I removed all my holdings from all exchanges and doubt I'll be putting any back on unless there is some significant change in how that business is conducted.

I'm still bullish on MINT, and crypto in general, because digital currency is no more going away than firemaking or tool use are going away. It's a valid technical innovation and it is here to stay. MINT is a superior form of crypto because of the green nature of PoS and the minting process. It's scalable for mass adoption so I think it is a good contender for becoming a currency of actual utilitarian value some day.

One thing standing in the way of that day is all of the scammers, manipulators, pump and dumpers etc that create volatility in the market. But that is the nature of risk. Marco Polo went to the see the Great Khan, that's taking a risk in trading. Putting a few thou into crypto to see if it works out down the road is nothing in comparison.  

it has no future if the flaw isnt addressed. it generates too many coins without cost.

At 10 sat's it would take about 2 months to overturn the current supply at about 30 btc vol a day... so I would say its gonna take 2 months to weed out the weak holders... and then that is if any new alt hasn't come and taken mint's position in the market by then... alot of new coins doing the same thing as mint, mining early to hoard and then block inflation to minimum... I don't see how its gonna be bullish long term as no true investor will buy to hold it when there are people holding billions at almost no cost, why would a smart investor be the pig when hes made  a living slaughtering dumb money? I do think you can make money off of swings though... just unless there are major breakthroughs in development I don't see it going anywhere... there is still the technical challenge of proving that POS itself can work on its own that the bitcoin community hasn't proven yet...

So in other words, keep trading.

 

lol yes and we all know how hard trading really is, the best of traders struggle to reach the 1% edge over the long term... so you can simply just buy when there is fear and hope the price will go up so you can sell... the probability of rising enough to justify a reasonable profit here is quite low unless the multi-pool takes off suddenly... that is why I would like to see a 100% supply turnover until a floor is reached... and by then in crypto-time we might have all moved onto something else.

[thisisit]

I wouldn't necessarily call that a flaw. The average user is only going to have Mintcoins on the exchange for a short period of time to either buy or sell. It is the day traders who take this risk more than anyone that benefits the exchange. They are taking the risk that they can make more money day trading than to take the coins off and receive interest.

By your words, any Proof of Stake coin is doomed to fail because of this "flaw". I will have to respectfully disagree with your way of thinking. Granted that yes, the interest is rather high right now, benefiting large stake holders, which is causing the market to discover the right price. This should balance out as market forces take effect.

it doesnt matter if the average user does withdraw or not. it matters how much an exchange ( or bagholder ) has in its wallets ( hot and cold ). and what they do with the minted coins that were generated using these large amounts. if they decide to autosell the mints ( free btc )... you get a constant sell pressure. bad for price. it looks very similar to a multipool dump. without the cost of mining. free money for them since they didnt pay btc/mine it. yahoo.

[DougB62]

So... Why are people keeping it in exchanges? I just bought some at 0.00000012 and it's going straight to my wallet

Day trading... I had some "extra" on Mintpal for this purpose. But when I saw the current trend, I yanked it down into my wallet. Not a lot to be made there until things have stabilized for a while.

And for the record, I was a "late adopter". I mined a few in the second to last stage, saw the community in this thread, and bought in @38. I'm not doing anything with my mint until it's at least 380... and even then I'm not sure. If I'm wrong, I'll go down with the ship. No big loss, since I didn't buy that much. (But I have been mining various other coins and converting, and have quadrupled my holdings.)

But I'm betting it won't fade into oblivion. I'm willing to take that risk, because I believe that eventually it will rebound... and rebound big.

Quick money is great. Long term profit is better.

[mgburks77]

I removed all my holdings from all exchanges and doubt I'll be putting any back on unless there is some significant change in how that business is conducted.

I'm still bullish on MINT, and crypto in general, because digital currency is no more going away than firemaking or tool use are going away. It's a valid technical innovation and it is here to stay. MINT is a superior form of crypto because of the green nature of PoS and the minting process. It's scalable for mass adoption so I think it is a good contender for becoming a currency of actual utilitarian value some day.

One thing standing in the way of that day is all of the scammers, manipulators, pump and dumpers etc that create volatility in the market. But that is the nature of risk. Marco Polo went to the see the Great Khan, that's taking a risk in trading. Putting a few thou into crypto to see if it works out down the road is nothing in comparison.  

it has no future if the flaw isnt addressed. it generates too many coins without cost.

At 10 sat's it would take about 2 months to overturn the current supply at about 30 btc vol a day... so I would say its gonna take 2 months to weed out the weak holders... and then that is if any new alt hasn't come and taken mint's position in the market by then... alot of new coins doing the same thing as mint, mining early to hoard and then block inflation to minimum... I don't see how its gonna be bullish long term as no true investor will buy to hold it when there are people holding billions at almost no cost, why would a smart investor be the pig when hes made  a living slaughtering dumb money? I do think you can make money off of swings though... just unless there are major breakthroughs in development I don't see it going anywhere... there is still the technical challenge of proving that POS itself can work on its own that the bitcoin community hasn't proven yet...

So in other words, keep trading.

 

lol yes and we all know how hard trading really is, the best of traders struggle to reach the 1% edge over the long term... so you can simply just buy when there is fear and hope the price will go up so you can sell... the probability of rising enough to justify a reasonable profit here is quite low unless the multi-pool takes off suddenly... that is why I would like to see a 100% supply turnover until a floor is reached... and by then in crypto-time we might have all moved onto something else.

Well if you want to day trade go ahead. Even legitimate forex trading is basically a scam that only benefits exchanges or institutional players, so this just handing your money over to a shady operator who has total informational awareness of all trades being conducted and is engaged in manipulation on all of the very few public forums relating to crypto trading.

Someday a coin will become a valid utilitarian digital currency and break that paradigm. I think MINT is a good contender to do that.

I hope the price will crash to 1 so we can shake the fleas out of the blanket.

[sidhujag]

I removed all my holdings from all exchanges and doubt I'll be putting any back on unless there is some significant change in how that business is conducted.

I'm still bullish on MINT, and crypto in general, because digital currency is no more going away than firemaking or tool use are going away. It's a valid technical innovation and it is here to stay. MINT is a superior form of crypto because of the green nature of PoS and the minting process. It's scalable for mass adoption so I think it is a good contender for becoming a currency of actual utilitarian value some day.

One thing standing in the way of that day is all of the scammers, manipulators, pump and dumpers etc that create volatility in the market. But that is the nature of risk. Marco Polo went to the see the Great Khan, that's taking a risk in trading. Putting a few thou into crypto to see if it works out down the road is nothing in comparison.  

it has no future if the flaw isnt addressed. it generates too many coins without cost.

At 10 sat's it would take about 2 months to overturn the current supply at about 30 btc vol a day... so I would say its gonna take 2 months to weed out the weak holders... and then that is if any new alt hasn't come and taken mint's position in the market by then... alot of new coins doing the same thing as mint, mining early to hoard and then block inflation to minimum... I don't see how its gonna be bullish long term as no true investor will buy to hold it when there are people holding billions at almost no cost, why would a smart investor be the pig when hes made  a living slaughtering dumb money? I do think you can make money off of swings though... just unless there are major breakthroughs in development I don't see it going anywhere... there is still the technical challenge of proving that POS itself can work on its own that the bitcoin community hasn't proven yet...

PPC was the first that proved that POS works. What is your point ?

POS has many issues on its own including breaks anonymity of transactions... PPC is POS+POW. It hasn't been proven that it can work on its own yet... NXT tried to solve some of these problems not sure if they were able to do it in a decentralized fashion.  I highly doubt any of these new flavours of POS have solved the original problem(s)... thus it is untested.

Problem with PPC I see is that it introduces an incentive inherintly to game the algorithm to create favourable conditions for miners/speculators etc.... because the POS /POW reward is dynamic according to difficulty... I think the coin to be used as a USD replacement for everyday tx will have either 0 inflation (bitcoin) or have a known steady inflation or have inflation tied to GDP... but we kinda already tried that and it didnt work (fiat)

[sixteendigits]

I highly doubt Cryptsy give 2 shits about mining a few extra MINTs.  Cryptsy did 3000 BTC of volume yesterday.  Correct my math if I am wrong but 3000 BTC of volume x .5% trading fees (for the buy and sell) = 15 BTC a day income for Cryptsy.  Do you really think big vern is worried about a few million MINT here or there?  I am sure the whole process of moving coins back and forth between hot and cold wallets as needed would regularly destroy coin days.  Don't you think he has bigger fish to fry?

Now I've heard a lot of FUD, but worrying that Cryptsy is secretly using the MINT held on their exchange to gain extra coins, is the most unintelligible, ignorant, illogical piece of FUD I have heard in quite some time.

[mgburks77]

So... Why are people keeping it in exchanges? I just bought some at 0.00000012 and it's going straight to my wallet

Day trading... I had some "extra" on Mintpal for this purpose. But when I saw the current trend, I yanked it down into my wallet. Not a lot to be made there until things have stabilized for a while.

And for the record, I was a "late adopter". I mined a few in the second to last stage, saw the community in this thread, and bought in @38. I'm not doing anything with my mint until it's at least 380... and even then I'm not sure. If I'm wrong, I'll go down with the ship. No big loss, since I didn't buy that much. (But I have been mining various other coins and converting, and have quadrupled my holdings.)

But I'm betting it won't fade into oblivion. I'm willing to take that risk, because I believe that eventually it will rebound... and rebound big.

Quick money is great. Long term profit is better.

I'm with you.

[moderndezigns]

If an exchange were selling minted coins wouldn't the minting process for the wallet reset after each withdraw?

[thisisit]

I highly doubt Cryptsy give 2 shits about mining a few extra MINTs.  Cryptsy did 3000 BTC of volume yesterday.  Correct my math if I am wrong but 3000 BTC of volume x .5% trading fees (for the buy and sell) = 15 BTC a day income for Cryptsy.  Do you really think big vern is worried about a few million MINT here or there?  I am sure the whole process of moving coins back and forth between hot and cold wallets as needed would regularly destroy coin days.  Don't you think he has bigger fish to fry?

Now I've heard a lot of FUD, but worrying that Cryptsy is secretly using the MINT held on their exchange to gain extra coins, is the most unintelligible, ignorant, illogical piece of FUD I have heard in quite some time.

its a very simple program. its about ROI.

[rmoraos]

I wouldn't necessarily call that a flaw. The average user is only going to have Mintcoins on the exchange for a short period of time to either buy or sell. It is the day traders who take this risk more than anyone that benefits the exchange. They are taking the risk that they can make more money day trading than to take the coins off and receive interest.

By your words, any Proof of Stake coin is doomed to fail because of this "flaw". I will have to respectfully disagree with your way of thinking. Granted that yes, the interest is rather high right now, benefiting large stake holders, which is causing the market to discover the right price. This should balance out as market forces take effect.

it doesnt matter if the average user does withdraw or not. it matters how much an exchange ( or bagholder ) has in its wallets ( hot and cold ). and what they do with the minted coins that were generated using these large amounts. if they decide to autosell the mints ( free btc )... you get a constant sell pressure. bad for price. it looks very similar to a multipool dump. without the cost of mining. free money for them since they didnt pay btc/mine it. yahoo.

Not true, each deposit have its own maduration age, which is 20 days. No way a last deposit could begin to gain interest if it is in the same wallet that an old deposit without reach the 20 days minimum.

[thisisit]

explain the current sell pressure then? while pow is over?