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bob131313
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February 24, 2014, 04:50:59 AM |
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Gentle reminder to folks that are new to this game. Please don't invest more than you can afford to to lose in any crypto. We are all playing pass the hot potato.
Also. ATM there are 16 billion coins floating around. Please keep in mind how fucking big this is. 16,000,000,000 so 999 million x 16.
1 million is currently valued at 0.4 btc
On a more positive note, I will be on irc #mintcoin on freenode in a few to do a giveaway for those that need more.
Grats to WTM 2014-02-24 04:25:21 MINT 100000.20000000 0.20000000 MaRMUc6F9HR9BJf2zKR3p2FL2LJBSfe7Hy 0af4dee3eb7341de63e709c4ee2eba00cb1ec595c225b60c2670fac7394c12b8 |
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PCJargon
Full Member
 Offline
Activity: 126
Merit: 100
Smashing rocks with my GPU
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February 24, 2014, 04:51:45 AM |
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Has anyone here successfully received coin via POS yet? I understand it is 20% interest per year, but I'm real curious how that is calculated. Is it compounding? Daily interest? Weekly? Monthly?
Someone said POS will only begin after 5 weeks of initial distribution. On the front page: PoS will start after at least 20 days of holding of the coins in the wallet. So if I have 5 million coins I will get 1 million in PoS interest after 20 days? That is effing awesome. I am liking this coin more and more all the time. No, 20% /annually/. Aka, just over 1% every 20 days. |
Check out this site for legit free BTC. It's like an hourly free lottery ticket that always pays out at least 300 satoshi, and could net you over .3 BTC if you're really lucky. Just gotta fill out a captcha each time. (basically a faucet with chance of real reward) http://freebitco.in/?r=242778 |
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Gingermod
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February 24, 2014, 04:52:17 AM |
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The problem of crypto is that it always repeats the same stupid model.
First phase - nobody cares, its called "randomisation phase". Just a coin release and nobody knows what will happen. You cant own them all because there are gazillions of coins coming to the market so even the best investor has to satisfy with random luck when choosing which coin should "make it".
Second phase - pump. It depends only on the success of its own success. Market cap or future market cap is totally irrelevant. Pumped coins get more pumped and point attraction. Its typical for them that the value reaches the value which the coin would get in few months or years in the best scenario of its future.
Third phase - dump. After peaking there appears a dump which takes usually few weeks. People realize that the value is really too big and start selling. It takes a while until the coin loses all value made by pump. Then usually comes the next phase
4th phase - re-pump. When the value gets low enough and the coin gets slowly forgotten, there usually comes a re-pump usually made by new hype, few whales or just because it has fallen to satoshi value and technically it cant drop more. Because the coin is slowly forgotten, not too many sellers are active and watching the market so the pump is now possible again.
And then follows the 5th phase - last dump. After the last pump and dump the coin is usually stabilizing and being useless for Pump and Dump so it gets totally forgotten and left by everybody who is trading it for profit only and now the coin must show up his real abilities and innovation.
No coin has survived the 5th phase yet except bitcoin and maybe litecoin (however its discutable because litecoin has no real use). Doge is now between 4th and 5th phase. Mint is at 2nd phase.
Its very annoying that the price went to insane hights and we still dont know even a shit about its functionality. Will do the PoS work? Will the PoS be positive? The coin is one big pre-order, you pay for something what didnt show up yet. And its very annoying for real investors because they cant make a fair buy-in when the coin shows some potential. Just because they will come too late in potential dump phase no matter how well the coin will work.
In the meantime, that premine is going to make the creators bank , being negative about it won't get you anywhere. Maybe invest in Karmacoin, you might need it. Really? Cause I see PoS implemented in Peercoin and Ultracoin, as well as various others. |
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bizzargin
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February 24, 2014, 04:52:30 AM |
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Has anyone here successfully received coin via POS yet? I understand it is 20% interest per year, but I'm real curious how that is calculated. Is it compounding? Daily interest? Weekly? Monthly?
Someone said POS will only begin after 5 weeks of initial distribution. On the front page: PoS will start after at least 20 days of holding of the coins in the wallet. So if I have 5 million coins I will get 1 million in PoS interest after 20 days? That is effing awesome. I am liking this coin more and more all the time. Over 1 year. 20% annually |
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coolbeans94
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February 24, 2014, 04:54:44 AM |
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20% per year every year is not sustainable that is why it declines the following years to a 5% sustainable rate.
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(1.) Moral happiness depends upon moral order.
(2.) Moral order depends upon the harmonious action of all our powers, as
individuals and as members of society.
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CryptoMF
Member
Offline
Activity: 70
Merit: 10
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February 24, 2014, 04:55:43 AM |
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Has anyone here successfully received coin via POS yet? I understand it is 20% interest per year, but I'm real curious how that is calculated. Is it compounding? Daily interest? Weekly? Monthly?
Someone said POS will only begin after 5 weeks of initial distribution. On the front page: PoS will start after at least 20 days of holding of the coins in the wallet. So if I have 5 million coins I will get 1 million in PoS interest after 20 days? That is effing awesome. I am liking this coin more and more all the time. No, 20% /annually/. Aka, just over 1% every 20 days. Bummer. A year is a long time to wait in the world of alt coins. But I guess 1% is ok. Can I get a loan on the interest I would be paid so I can use it right away without having to disturb my coins? Maybe get a loan for 5% interest so I can still make 15%? |
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Vinculin
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February 24, 2014, 04:56:36 AM |
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The problem of crypto is that it always repeats the same stupid model.
First phase - nobody cares, its called "randomisation phase". Just a coin release and nobody knows what will happen. You cant own them all because there are gazillions of coins coming to the market so even the best investor has to satisfy with random luck when choosing which coin should "make it".
Second phase - pump. It depends only on the success of its own success. Market cap or future market cap is totally irrelevant. Pumped coins get more pumped and point attraction. Its typical for them that the value reaches the value which the coin would get in few months or years in the best scenario of its future.
Third phase - dump. After peaking there appears a dump which takes usually few weeks. People realize that the value is really too big and start selling. It takes a while until the coin loses all value made by pump. Then usually comes the next phase
4th phase - re-pump. When the value gets low enough and the coin gets slowly forgotten, there usually comes a re-pump usually made by new hype, few whales or just because it has fallen to satoshi value and technically it cant drop more. Because the coin is slowly forgotten, not too many sellers are active and watching the market so the pump is now possible again.
And then follows the 5th phase - last dump. After the last pump and dump the coin is usually stabilizing and being useless for Pump and Dump so it gets totally forgotten and left by everybody who is trading it for profit only and now the coin must show up his real abilities and innovation.
No coin has survived the 5th phase yet except bitcoin and maybe litecoin (however its discutable because litecoin has no real use). Doge is now between 4th and 5th phase. Mint is at 2nd phase.
Its very annoying that the price went to insane hights and we still dont know even a shit about its functionality. Will do the PoS work? Will the PoS be positive? The coin is one big pre-order, you pay for something what didnt show up yet. And its very annoying for real investors because they cant make a fair buy-in when the coin shows some potential. Just because they will come too late in potential dump phase no matter how well the coin will work.
In the meantime, that premine is going to make the creators bank , being negative about it won't get you anywhere. Maybe invest in Karmacoin, you might need it. Really? Cause I see PoS implemented in Peercoin and Ultracoin, as well as various others. To my knowledge, no coins are purely POS. Only mint does (after 5 weeks of mining) |
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CryptoMF
Member
Offline
Activity: 70
Merit: 10
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February 24, 2014, 04:57:30 AM |
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20% per year every year is not sustainable that is why it declines the following years to a 5% sustainable rate.
Why isn't 20% sustainable? |
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Gingermod
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February 24, 2014, 04:58:44 AM |
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The problem of crypto is that it always repeats the same stupid model.
First phase - nobody cares, its called "randomisation phase". Just a coin release and nobody knows what will happen. You cant own them all because there are gazillions of coins coming to the market so even the best investor has to satisfy with random luck when choosing which coin should "make it".
Second phase - pump. It depends only on the success of its own success. Market cap or future market cap is totally irrelevant. Pumped coins get more pumped and point attraction. Its typical for them that the value reaches the value which the coin would get in few months or years in the best scenario of its future.
Third phase - dump. After peaking there appears a dump which takes usually few weeks. People realize that the value is really too big and start selling. It takes a while until the coin loses all value made by pump. Then usually comes the next phase
4th phase - re-pump. When the value gets low enough and the coin gets slowly forgotten, there usually comes a re-pump usually made by new hype, few whales or just because it has fallen to satoshi value and technically it cant drop more. Because the coin is slowly forgotten, not too many sellers are active and watching the market so the pump is now possible again.
And then follows the 5th phase - last dump. After the last pump and dump the coin is usually stabilizing and being useless for Pump and Dump so it gets totally forgotten and left by everybody who is trading it for profit only and now the coin must show up his real abilities and innovation.
No coin has survived the 5th phase yet except bitcoin and maybe litecoin (however its discutable because litecoin has no real use). Doge is now between 4th and 5th phase. Mint is at 2nd phase.
Its very annoying that the price went to insane hights and we still dont know even a shit about its functionality. Will do the PoS work? Will the PoS be positive? The coin is one big pre-order, you pay for something what didnt show up yet. And its very annoying for real investors because they cant make a fair buy-in when the coin shows some potential. Just because they will come too late in potential dump phase no matter how well the coin will work.
In the meantime, that premine is going to make the creators bank , being negative about it won't get you anywhere. Maybe invest in Karmacoin, you might need it. Really? Cause I see PoS implemented in Peercoin and Ultracoin, as well as various others. , no coins are purely POS. Only mint does (after 5 weeks of mining) Or lack thereof. Mintcoin is the quickest coin to jump to PoS stage. Yes, that's it. |
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CryptoMF
Member
Offline
Activity: 70
Merit: 10
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February 24, 2014, 05:04:05 AM |
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I was just thinking about something. I know that is usually a bad idea...  I am assuming most people with large holdings of Mintcoin will be holding their coins long term so they get the PoS interest. What if another very very large holder has an emergency and has to cash out all their coins and get real money to pay for something urgent. If they do this then the price will go down very very far and the others are left with coins worth much less. Is there any way to stop this from happening? |
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Gingermod
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February 24, 2014, 05:07:55 AM |
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I was just thinking about something. I know that is usually a bad idea... I am assuming most people with large holdings of Mintcoin will be holding their coins long term so they get the PoS interest. What if another very very large holder has an emergency and has to cash out all their coins and get real money to pay for something urgent. If they do this then the price will go down very very far and the others are left with coins worth much less. Is there any way to stop this from happening? Damn you are retarded, no wonder you shill for this shitcoin. |
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MyFarm
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February 24, 2014, 05:08:35 AM |
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I was just thinking about something. I know that is usually a bad idea... I am assuming most people with large holdings of Mintcoin will be holding their coins long term so they get the PoS interest. What if another very very large holder has an emergency and has to cash out all their coins and get real money to pay for something urgent. If they do this then the price will go down very very far and the others are left with coins worth much less. Is there any way to stop this from happening? I've been pondering this and actually think it is the other way around. MINT holders won't have their coins on an exchange as they want them in their wallet. So the SELL side will be very illiquid yet people on the buy side (BTC) will still have their buys in place. |
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EbonHawk
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February 24, 2014, 05:09:38 AM |
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At Poloniex price is 47 satos now  |
"Se você não achar uma forma de ganhar dinheiro enquanto dorme, você vai trabalhar até morrer" - Warren Buffett
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now2ai8
Member
Offline
Activity: 101
Merit: 10
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February 24, 2014, 05:09:55 AM |
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I was just thinking about something. I know that is usually a bad idea... I am assuming most people with large holdings of Mintcoin will be holding their coins long term so they get the PoS interest. What if another very very large holder has an emergency and has to cash out all their coins and get real money to pay for something urgent. If they do this then the price will go down very very far and the others are left with coins worth much less. Is there any way to stop this from happening? Wtf... What if you found out you needed to pull out alot of money from the bank to save the life of someone you love, is there any way to stop this from happening? How does that sound to you? |
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PCJargon
Full Member
Offline
Activity: 126
Merit: 100
Smashing rocks with my GPU
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February 24, 2014, 05:10:31 AM |
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I was just thinking about something. I know that is usually a bad idea... I am assuming most people with large holdings of Mintcoin will be holding their coins long term so they get the PoS interest. What if another very very large holder has an emergency and has to cash out all their coins and get real money to pay for something urgent. If they do this then the price will go down very very far and the others are left with coins worth much less. Is there any way to stop this from happening? This is a risk on any coin ever............... |
Check out this site for legit free BTC. It's like an hourly free lottery ticket that always pays out at least 300 satoshi, and could net you over .3 BTC if you're really lucky. Just gotta fill out a captcha each time. (basically a faucet with chance of real reward) http://freebitco.in/?r=242778 |
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merkin
Member
Offline
Activity: 266
Merit: 10
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February 24, 2014, 05:11:47 AM |
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How the hell has mint coin gone up so high?
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Gingermod
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February 24, 2014, 05:12:38 AM |
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The problem of crypto is that it always repeats the same stupid model.
First phase - nobody cares, its called "randomisation phase". Just a coin release and nobody knows what will happen. You cant own them all because there are gazillions of coins coming to the market so even the best investor has to satisfy with random luck when choosing which coin should "make it".
Second phase - pump. It depends only on the success of its own success. Market cap or future market cap is totally irrelevant. Pumped coins get more pumped and point attraction. Its typical for them that the value reaches the value which the coin would get in few months or years in the best scenario of its future.
Third phase - dump. After peaking there appears a dump which takes usually few weeks. People realize that the value is really too big and start selling. It takes a while until the coin loses all value made by pump. Then usually comes the next phase
4th phase - re-pump. When the value gets low enough and the coin gets slowly forgotten, there usually comes a re-pump usually made by new hype, few whales or just because it has fallen to satoshi value and technically it cant drop more. Because the coin is slowly forgotten, not too many sellers are active and watching the market so the pump is now possible again.
And then follows the 5th phase - last dump. After the last pump and dump the coin is usually stabilizing and being useless for Pump and Dump so it gets totally forgotten and left by everybody who is trading it for profit only and now the coin must show up his real abilities and innovation.
No coin has survived the 5th phase yet except bitcoin and maybe litecoin (however its discutable because litecoin has no real use). Doge is now between 4th and 5th phase. Mint is at 2nd phase.
Its very annoying that the price went to insane hights and we still dont know even a shit about its functionality. Will do the PoS work? Will the PoS be positive? The coin is one big pre-order, you pay for something what didnt show up yet. And its very annoying for real investors because they cant make a fair buy-in when the coin shows some potential. Just because they will come too late in potential dump phase no matter how well the coin will work.
In the meantime, that premine is going to make the creators bank , being negative about it won't get you anywhere. Maybe invest in Karmacoin, you might need it. Really? Cause I see PoS implemented in Peercoin and Ultracoin, as well as various others. Mintcoin implemented PoS much better. UltraCoin started at a bubble, now look at it... Peercoin deserves it's credit, but Mintcoin has a fairer distribution in coins and a better concept. The longer you wait to buy in, the higher you will have to buy your position. HOW is this more fair? You can't even mine after 5 weeks. Ultracoin? Started at a bubble? What the fuck do you think is happening to Mintcoin? |
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deadmanwalking
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February 24, 2014, 05:14:13 AM |
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Other coins are proof of work + proof of stake for the life of the coin. The majority of Mintcoins produced( 50 Billion) will be proof of stake. People can still mine the coin in 5 weeks, but the reward will be small. So if you want in, it makes sense to buy. After having said all that, I'm still weary of scamcoins. If this turns out to be a scamcoin it will be because PoS was never actually built into the code. If someone can legitimately look at the code and let us all know that would be awesome. I would do it myself but I am not computer literate  |
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CryptoMF
Member
Offline
Activity: 70
Merit: 10
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February 24, 2014, 05:14:29 AM |
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I was just thinking about something. I know that is usually a bad idea... I am assuming most people with large holdings of Mintcoin will be holding their coins long term so they get the PoS interest. What if another very very large holder has an emergency and has to cash out all their coins and get real money to pay for something urgent. If they do this then the price will go down very very far and the others are left with coins worth much less. Is there any way to stop this from happening? I've been pondering this and actually think it is the other way around. MINT holders won't have their coins on an exchange as they want them in their wallet. So the SELL side will be very illiquid yet people on the buy side (BTC) will still have their buys in place. Won't they have to move their coins to an exchange to sell them? I am confused by what illiquid means? Won't there be a regular market place with buys and sells? |
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bob131313
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February 24, 2014, 05:15:04 AM |
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The problem of crypto is that it always repeats the same stupid model.
First phase - nobody cares, its called "randomisation phase". Just a coin release and nobody knows what will happen. You cant own them all because there are gazillions of coins coming to the market so even the best investor has to satisfy with random luck when choosing which coin should "make it".
Second phase - pump. It depends only on the success of its own success. Market cap or future market cap is totally irrelevant. Pumped coins get more pumped and point attraction. Its typical for them that the value reaches the value which the coin would get in few months or years in the best scenario of its future.
Third phase - dump. After peaking there appears a dump which takes usually few weeks. People realize that the value is really too big and start selling. It takes a while until the coin loses all value made by pump. Then usually comes the next phase
4th phase - re-pump. When the value gets low enough and the coin gets slowly forgotten, there usually comes a re-pump usually made by new hype, few whales or just because it has fallen to satoshi value and technically it cant drop more. Because the coin is slowly forgotten, not too many sellers are active and watching the market so the pump is now possible again.
And then follows the 5th phase - last dump. After the last pump and dump the coin is usually stabilizing and being useless for Pump and Dump so it gets totally forgotten and left by everybody who is trading it for profit only and now the coin must show up his real abilities and innovation.
No coin has survived the 5th phase yet except bitcoin and maybe litecoin (however its discutable because litecoin has no real use). Doge is now between 4th and 5th phase. Mint is at 2nd phase.
Its very annoying that the price went to insane hights and we still dont know even a shit about its functionality. Will do the PoS work? Will the PoS be positive? The coin is one big pre-order, you pay for something what didnt show up yet. And its very annoying for real investors because they cant make a fair buy-in when the coin shows some potential. Just because they will come too late in potential dump phase no matter how well the coin will work.
In the meantime, that premine is going to make the creators bank , being negative about it won't get you anywhere. Maybe invest in Karmacoin, you might need it. Really? Cause I see PoS implemented in Peercoin and Ultracoin, as well as various others. To my knowledge, no coins are purely POS. Only mint does (after 5 weeks of mining) Keep in mind that the POW mining goes to 1 per block, so the coin is never relying on just POS to mine transactions. |
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