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

[yogg]

Mintcoin users should know that altdice.net was hacked in the past and there are still outstanding debts to investors.

https://bitcointalk.org/index.php?topic=580299.msg14808309#msg14808309

"
--snip--
The former offchain dice script had flaws and was hacked. That didn't help.
--snip--"

Yes, this is true. This is not something I am hiding.
People bought for about 3 BTC worth of shares one year ago.
I got back lately to relaunch the website and make the people who entrusted me whole.

Altdice have to restart somewhere and it appear I got some MINTs left.
Not enough to give everyone his coins back, but enough to serve as a bankroll.
Mintcoin is a successful cryptocoin and I believe it deserves a reliable dice game.
Unrelated to the bad script, Altdice is provably fair, almost instant, and players can walk away with more coins than what they had. This doesn't change.

The flawed script was removed and Altdice runs with the code it uses since its beginning, which is not exploitable. (except for a compromised blockchain)
There is a lot of reasons that pushes me to do that. It might take a few months, maybe a year, but still, it's best to do something in order to clean the mess than nothing.

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[Derek492]

MINT has been round for over 2 years now, it is arguably well established, usually in the top 100 on market capitalization for the the duration of that time, even in the top 50 on market capitalization most of the time. I think a lot of people don't understand it though still. I think a lot of people look at Mintcoin as if it is solely referring to a mint candy, or mint plant. There have even been a lot of jokes about it, but really, Mintcoin is a focus on and about the minting process. The parameters for how minting is controlled and new coins being minted and released is built to be as fair as possible and sustainable.  There is a 20 day cycle of a minting every 30 seconds. This means there are 57600 mintings every 20 days. Most proof of stake coins don't offer this much opportunity to find a block that will get you to stake successfully. Other coins offer really low rewards so there is no incentive to stake and secure the network, while on the other hand other coins offer too much reward to those who are staking, and tendency is for the coin to becomes excessively inflationary long-term, and too much being paid out to the top stakeholders. With MINT, we find a perfect balance. We are still technically in the early, and higher risk phase of the coin's life, as it is still only 2 years old. The first year, MINT paid a 20% stake reward to incentivize and counter early age risk, and get the coin up and running.  Last year it paid 15%. And right now we are at the 10% rate. Once December 2016 is come,  we will all be at the 5% rate for new coin minting, and that is where it will stay. Not everyone mints their coins, so 5% will be a good long term balance as it's just enough to incentivize people, but not so high that if you don't stake your coins you will lose a lot of value from inflation. The idea is and that over the long-term the price for coins will steadily rise, so everyone will gain good returns, and if you do put in the efforts of staking and minting coins you are justly compensated for it with a reasonable 5% per year rate. You might think 5% is a low amount but keep in mind, minting is really quite easy. Way easier than mining for Bitcoins. So anything higher is probably not going to fly long-term. Anything lower is not going to provide a healthy dose of stakers to secure the network, and keep the coin fungible and scalable with strong growing demand. The MINT halving comes next year, so there is still a lot ahead of us. We are a committed community, and have been through a lot of hurdles in the past, and have a proven track record so to speak. Good group of people here in this community.

[Johnny00]

Thanks for the reply

[MintyAllDay]

Yes thank you. So many coins out there why would mint coin be successful?

I am committed to some level of marketing and transparent communication long term which may be of value to some users. 

Additionally you may want to check out the history thread in assessing mintcoin.

https://bitcointalk.org/index.php?topic=1355523.msg13798259#msg13798259

[Johnny00]

I downloaded the wallet and bootstrap. It's been on the main screen saying loading boats trap for about 10 hours. Is that normal?

[Johnny00]

Actually it says importing bootstrap blockchain data file

[crzybilly]

Actually it says importing bootstrap blockchain data file

yes, boot strap takes roughly 24 hours or more depending on system resources

[BrotherJ]

Are any new ideas/services being considered for this project? When will we get a new wallet that's not such a resource hog?

[Derek492]

Are any new ideas/services being considered for this project? When will we get a new wallet that's not such a resource hog?

Not sure "when". They have been working on it a lot. It would be nice to have an update from the devs on progress. they released an update a couple months ago to the wallet that improved some things.

[Tubularwindow]

Been rather quite here lately. What's going on and happening with this coin? I really like this coin, and want to see it flourish. Glad to see we got a dice game. How are developments coming along? Anything new and exciting?

I'm finally starting to mint some value where it looks like this could really pay off better than mining! Nice to see! This coin has promise. Keep up the good work

[solstice]

I downloaded the wallet and bootstrap. It's been on the main screen saying loading boats trap for about 10 hours. Is that normal?

It is likely normal the entire chain already at more than 2.5 million block, will take a while before it fully synced.

[arandy]

Well i'm out of this coin have been with it from the start and made me quite a few BTC with the big pump a while ago.
Have about 20mil left to catch a pumpwave but lets face it this coin died a while ago and it's not coming back.
To bad i always had high hopes for mint

Hope the devs prove me wrong good luck 

[MintyAllDay]

lets face it this coin died a while ago and it's not coming back.
To bad i always had high hopes for mint

Dead?  Interesting.  I'm not sure your following too closely. 

[sambiohazard]

I checked the github linked in OP and latest commit was a few months ago. I am not sure what is going on. Am i looking at wrong github? Also some update no matter how technical, will be appreciated.

[MintyAllDay]

I'm not sure I was using any sarcasm.  I am saying that updates have been coming directly from the devs in the form of actual software with release notes, official bootstrap, etc.  The devs have been quite clear that they are moving towards a 2.1 release and activity shows that on Git.  Everyone working on mintcoin is a volunteer with other jobs and projects.  I would prefer the devs focus on coding and doing the work that only their expertise can provide rather then PR, CS, and general admin work.  Perhaps I can help you?  Is there specific info your looking for?  It's quite clear that there has been plenty of communication and software releases within the last 6 months.

But yes...we all miss cryptomommy.  SIGH.  Maybe you can help provide some of the updates that she can no longer do?  What type of info is needed in your opinion?  Are you interested in helping with mint?  Have you seen the history thread?  Just trying to help kind sir.  

https://bitcointalk.org/index.php?topic=1355523.msg13798259#msg13798259

ah, thanks for the link, its quite awesome! I was looking for something along the link i posted (https://bitcointalk.org/index.php?topic=727023.msg14460950#msg14460950) which updates on progress even if there is no release. Not everyone is familiar with github and how to understand the activity going on there. It is a whole new jargon/language to learn. Probably the problem is that this is a very generic/large refresh of the code and there is no specific thing to let people know about. It will come out and everyone will feel the difference in performance but not so much in UI. To provide updates one needs to at least read the dev disscussions, i do that with DCR & BTC core(i mean read dev chats, not the updates ) but i have only so much time. All big coins have some kind of updates that let people know what devs are thinking & discussing. If someone can do that it would be amazing.

This post from you was 12 days ago.  I'm not sure what types of updates you expect in just under a 2 week time frame.  We don't have funding from an ITO or something similar which could allow for full time employees.  Bugs are being fixed for the next release and another improved wallet will be pushed out once it's stable and ready.  The devs work independently on Git and merge into the main account when it's time for release.

[EDIT] I will speak with devs about documentation of Git activity within the history thread.  Keep in mind that today is a holiday.

[wilbuuk]

Hi Wallet still ticking over fine this end, minted silly amount since 2nd march 2014, given away many millions of mint through 'rain' apps on facebook and various other social channels.

FB seems a bit quiet, https://www.facebook.com/groups/mintcoin/  

Is dev still active in the background, see various wallet app details on github.
Poloniex has seen an increase of large mint dumps at 8sats 30mil+

anything that can be advised good/bad going on or link up to future plans?  
have run through https://bitcointalk.org/index.php?topic=1355523.msg13798259#msg13798259

[URSAY]

Hi Wallet still ticking over fine this end, minted silly amount since 2nd march 2014, given away many millions of mint through 'rain' apps on facebook and various other social channels.

FB seems a bit quiet, https://www.facebook.com/groups/mintcoin/  

Is dev still active in the background, see various wallet app details on github.
Poloniex has seen an increase of large mint dumps at 8sats 30mil+

anything that can be advised good/bad going on or link up to future plans?  
have run through https://bitcointalk.org/index.php?topic=1355523.msg13798259#msg13798259

This is more directed towards sambiohazrd...with all respect...
I'm seeing lots of recent work on Git in regards to mint.  It's not in the main repository but it's public.  This is a difficult subject.  Volunteer devs should be allowed breathing room or they could walk away based on unnecessary scrutiny.  However, transparency is important for investors and users.  I'm not sure what kind of communication expectations you can hold to a community developed coin without a central organization.  If the devs want to engage with the public then they will.  Rather then require communications that fit your preferences, make time to do your own research or consider the newly launched flavor of the day coin with spoon fed announcements that match your ideas.  Again, just friendly debate.  

As far as the markets go, I think it's important to look at a year long or all chart and consider what bottom could be.  Exchange manipulation is common as history shows.  I'm a bit concerned about Cryptsy coins and how they could affect the market going forward but I'm guessing some of that recent sell pressure is related to some of the data that users are offering...

https://www.reddit.com/r/MintCoin/comments/4j4kx7/mintcoin_from_cryptsy/

[forzendiablo]

i was sure this coin is dead - after moolah fiasco
suprised someobdy still works to make it back

[crzybilly]

i was sure this coin is dead - after moolah fiasco
suprised someobdy still works to make it back

we've been working and test for awhile now trying to get updated core and new block indexing instead of the old clunky way of building a db causing memory bloats, as well as fixing bad datadir for conversions.... when new wallet finally passes internal testing via test group, then we can beta test it followed by release...

p.s. i've only mentioned minor features... there are some major features still being worked on that we aren't ready to release as it is still being worked on and i would hate to state a feature then us having to pull it

[Derek492]

We just don't hype it. Slow and steady. Better and better it will become.