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

[Jherek]

I wonder who actually thought, that lowering the reward to 1 coin per block was a good idea. It'd need 100,000 satoshi now to be profitable.
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00

This is wrong. Mint has now become fully PoS so you get coins whilst mining other coins. Its actually quite fun/profitable.

It is not nearly as profitable. Also, new miners look at coinwarz and decide what to mine, mint is at the very bottom there.

[DrFingol]

I am concerned why Blackcoin tanked, would the same thing happen to MINT?

BC tanked along with every other altcoin these last weeks. I think the AUR/MZC craze has contributed to the decline of a lot of alts, too. People are selling what they have to make money off of AUR etc at the moment, so a lot of capital is tied up in those alts. People have had their eye on Mint (and Black for that matter) for a while now, so it's in the forefront of the community's consciousness. That's a huge plus. Once people realize the potential in Mint and Black, which probably won't take long, we will see serious increases in price. Just wait for some capital to be freed from the coin-of-the-week.

[Jherek]

I wonder who actually thought, that lowering the reward to 1 coin per block was a good idea. It'd need 100,000 satoshi now to be profitable.
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00

Because the initial 5 week mining was Mint's distribution model; now it switches to Proof of State where new coins are awarded as interest on your existing holdings

At the moment rate it is several full dollars off from roi when mining it.
Who starts mining now will only lose money who mined earlier just got a huge advantage if the price goes near anything profitable again. In that case I'd have made 1000 usd profit in a week.

Because the coin is not designed to be raped and dumped by ASICs and multipools. It's designed to be distributed and invested.

No miners - no network - no coins - dead.

[Jherek]

I am concerned why Blackcoin tanked, would the same thing happen to MINT?

I think people are still just beginning to understand PoS.  Just look at r/mintcoin.  No one knows how to work their wallet.  I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter. 

Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?

[Alakazam2000]

I wonder who actually thought, that lowering the reward to 1 coin per block was a good idea. It'd need 100,000 satoshi now to be profitable.
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00

Because the initial 5 week mining was Mint's distribution model; now it switches to Proof of State where new coins are awarded as interest on your existing holdings

At the moment rate it is several full dollars off from roi when mining it.
Who starts mining now will only lose money who mined earlier just got a huge advantage if the price goes near anything profitable again. In that case I'd have made 1000 usd profit in a week.

Because the coin is not designed to be raped and dumped by ASICs and multipools. It's designed to be distributed and invested.

No miners - no network - no coins - dead.

Do you understand that we are generating coins throught PoS? Is it hard for you to understand? Or you are just trolling?

[Alakazam2000]

I am concerned why Blackcoin tanked, would the same thing happen to MINT?

I think people are still just beginning to understand PoS.  Just look at r/mintcoin.  No one knows how to work their wallet.  I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter. 

Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?

Everything is explained in first post and it's explained really carefully.

[rbizz]

I am concerned why Blackcoin tanked, would the same thing happen to MINT?

I think people are still just beginning to understand PoS.  Just look at r/mintcoin.  No one knows how to work their wallet.  I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.  

Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?

Agreed.  I think this is the first wallet download for a lot of the newbs who came on board early with mint, so a simple run through stickied at the top may be real helpful for people who may otherwise be turned off by downloading something.

[Jherek]

I am concerned why Blackcoin tanked, would the same thing happen to MINT?

I think people are still just beginning to understand PoS.  Just look at r/mintcoin.  No one knows how to work their wallet.  I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.  

Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?

Everything is explained in first post and it's explained really carefully.

It is not as it leaves alot of people puzzled

Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

[wasamata]

Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.

This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.

POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.

The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.

HTH.

[navarthelol]

Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.

This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.

POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.

The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.

HTH.

[stormia]

I am concerned why Blackcoin tanked, would the same thing happen to MINT?

I think people are still just beginning to understand PoS.  Just look at r/mintcoin.  No one knows how to work their wallet.  I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.  

Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?

Everything is explained in first post and it's explained really carefully.

It is not as it leaves alot of people puzzled

Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.

edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.

[Jherek]

Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.

This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.

POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.

The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.

HTH.

Currencies need spendings, need flow. You describe a hyper-deflationary modell and there is a reason why states try to encourage the citizens to spend their money, because massive bagholding is killing egonomy.

What you want with mintcoin is something like gold. Deflationary investment. But cryptocurrencies are not gold, they are worthless without money flow. Gold can be kept and gold has a purpose aside from investment. Gold is needed for electronics, in science and jewellery so there will always be some demand for gold and someone will sell gold when the price is high enough. That's the same problem that will come to bitcoin eventually: No sense in mining it and when you hold it, it will become more worth tomorrow, so price increases. But at some point it will be impossible to get via mining and impossible to get via buying because almost everyone just holds. Satoshi, being mathematically genius, confused gold with money as he created bitcoin. Currencies like dogecoin have more future because of their inflationary model. They will not increase in price unlimited but they will reach a certain level where spending/buying makes sense.

[Jherek]

It is not as it leaves alot of people puzzled

Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.

edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.

You didnt get the whole economy/money thing what I wrote about.
Deflationary coins are bullshit when people realize that the marked stales.

[stormia]

It is not as it leaves alot of people puzzled

Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.

edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.

You didnt get the whole economy/money thing what I wrote about.
Deflationary coins are bullshit when people realize that the marked stales.

Bitcoin is bullshit? Nextcoin is bullshit? News to me.

[Jherek]

It is not as it leaves alot of people puzzled

Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.

edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.

You didnt get the whole economy/money thing what I wrote about.
Deflationary coins are bullshit when people realize that the marked stales.

Bitcoin is bullshit? Nextcoin is bullshit? News to me.

-_- maybe try with reading my posts.

[wasamata]

Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.

This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.

POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.

The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.

HTH.

Currencies need spendings, need flow. You describe a hyper-deflationary modell and there is a reason why states try to encourage the citizens to spend their money, because massive bagholding is killing egonomy.

What you want with mintcoin is something like gold. Deflationary investment. But cryptocurrencies are not gold, they are worthless without money flow. Gold can be kept and gold has a purpose aside from investment. Gold is needed for electronics, in science and jewellery so there will always be some demand for gold and someone will sell gold when the price is high enough. That's the same problem that will come to bitcoin eventually: No sense in mining it and when you hold it, it will become more worth tomorrow, so price increases. But at some point it will be impossible to get via mining and impossible to get via buying because almost everyone just holds. Satoshi, being mathematically genius, confused gold with money as he created bitcoin. Currencies like dogecoin have more future because of their inflationary model. They will not increase in price unlimited but they will reach a certain level where spending/buying makes sense.

What nonsense! Go ahead and invest in a coin with zero return on investment! Where do you think your gains will come from, the hope of a capital gain, is that all?
And please, don;t compare bitcoin to gold. Bitcoin can be replicated a million times over as shown by the numorous clones. Now go ahead and explain how you can clone gold? I think I know what I'll choose. Blue chip stocks pay a dividend. Shit coins don't. End of story.
Besides your just shitty u cant mine and dump this coin. Well as a holder, Im glad.
Time for you to move or simply point your miner at a multipool!

[stormia]

It is not as it leaves alot of people puzzled

Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.

edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.

You didnt get the whole economy/money thing what I wrote about.
Deflationary coins are bullshit when people realize that the marked stales.

Bitcoin is bullshit? Nextcoin is bullshit? News to me.

-_- maybe try with reading my posts.

But your posts seem rather pessimistic, with nothing concrete to support the claims. In other words... FUD. Perhaps you will be right, but lets just wait and see what happens.. Only time will tell.

[Jherek]

Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.

This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.

POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.

The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.

HTH.

Currencies need spendings, need flow. You describe a hyper-deflationary modell and there is a reason why states try to encourage the citizens to spend their money, because massive bagholding is killing egonomy.

What you want with mintcoin is something like gold. Deflationary investment. But cryptocurrencies are not gold, they are worthless without money flow. Gold can be kept and gold has a purpose aside from investment. Gold is needed for electronics, in science and jewellery so there will always be some demand for gold and someone will sell gold when the price is high enough. That's the same problem that will come to bitcoin eventually: No sense in mining it and when you hold it, it will become more worth tomorrow, so price increases. But at some point it will be impossible to get via mining and impossible to get via buying because almost everyone just holds. Satoshi, being mathematically genius, confused gold with money as he created bitcoin. Currencies like dogecoin have more future because of their inflationary model. They will not increase in price unlimited but they will reach a certain level where spending/buying makes sense.

What nonsense! Go ahead and invest in a coin with zero return on investment! Where do you think your gains will come from, the hope of a capital gain, is that all?
And please, don;t compare bitcoin to gold. Bitcoin can be replicated a million times over as shown by the numorous clones. Now go ahead and explain how you can clone gold? I think I know what I'll choose. Blue chip stocks pay a dividend. Shit coins don't. End of story.
Besides your just shitty u cant mine and dump this coin. Well as a holder, Im glad.
Time for you to move or simply point your miner at a multipool!

This discussion is as old as bitcoins are and came up again refreshed (though with same arguments) when dogecoin decided inflationary modell.
There are basically two sides in this dicussion: Those that understand economics and those that dont.
And then there are these bitcoin evangelists defending bitcoins deflation and turn around claim how this will be the new currency, not noticing how they contradict themself.
And, when bitcoin is digital gold and someone clones bitcoin it doesn't mean that they cloned gold. They just brought up another commodity beside bitcoin competing on the same market. Unless they follow a completely other concept. And that's the reason, why coins like dogecoin will outlive bitcoins in the long run if they stay active that long. Inflationary coins stay fluid while deflationary cryptos will stale.

[guidosuller]

COME ON!!!! https://www.thunderclap.it/projects/9388-free-mintcoin-giveaway
COME ON!!!! https://www.thunderclap.it/projects/9388-free-mintcoin-giveaway
COME ON!!!! https://www.thunderclap.it/projects/9388-free-mintcoin-giveaway
COME ON!!!! https://www.thunderclap.it/projects/9388-free-mintcoin-giveaway
COME ON!!!! https://www.thunderclap.it/projects/9388-free-mintcoin-giveaway

[futile-resistance]

Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.

This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.

POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.

The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.

HTH.

Currencies need spendings, need flow. You describe a hyper-deflationary modell and there is a reason why states try to encourage the citizens to spend their money, because massive bagholding is killing egonomy.

What you want with mintcoin is something like gold. Deflationary investment. But cryptocurrencies are not gold, they are worthless without money flow. Gold can be kept and gold has a purpose aside from investment. Gold is needed for electronics, in science and jewellery so there will always be some demand for gold and someone will sell gold when the price is high enough. That's the same problem that will come to bitcoin eventually: No sense in mining it and when you hold it, it will become more worth tomorrow, so price increases. But at some point it will be impossible to get via mining and impossible to get via buying because almost everyone just holds. Satoshi, being mathematically genius, confused gold with money as he created bitcoin. Currencies like dogecoin have more future because of their inflationary model. They will not increase in price unlimited but they will reach a certain level where spending/buying makes sense.

I'm not sure why there can't be cryptocurrencies that fill different rolls than one another. Why can't people hoard bitcoin like gold, spend dogecoin like cash, and hold and spend mintcoin like a high yield savings/checking account? I think choice is one of the most beautiful things about cryptocurrencies as a whole.