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

[XbladeX]

....

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.

To many guys suggest it too...(i think we have some arguments to think that way...)
There is no sense to talk about it more.
Dev is the one who should explain that to community.

___________________________________________________________

...BTW My mint was't cheap @40 i don't have any plans sell them lower.
or buy new one in near future.

[stormia]

No it will find them
[/quote]

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 you 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.

[/quote]

Thank you both! Beer and mint incoming!

[Party Hard]

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.

Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead

[Ferris419]

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.

Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead

I haven't read back on this thread but I'm assuming what they mean is the multipools dumping the coin drives the price down which in turn brings volume due to people buying up the cheap coins which usually ends up driving the price up.  Just my assumption

[CryptoClub]

Love MINT! Awesome coin and the original that BC copied. MINT should return the favor and copy the multi-pool market pressure tech from BC, it is a good one. I hold Mint and Black, see them both going much higher! I am even keeping Zeitcoin, as if these both really take off, maybe Zeitcoin will as well.

Nobody likes premines, and we all want the best we can get for nothing at all, but unless you were born wealthy or bought Bitcoin when it was pennies and saved it, you likely need to get paid like the rest of us. Nobody likes to work for free, and why should they? As long as they were honest about the situation I have no problem with it. If they dumped the premine early, their mistake... I bought some more MINT cheap on the drop, really, that was the first thing I did when I heard the Premine was being sold off in the Poloniex Troll Box. Don't care. They made a brilliant ASIC invincible coin that countless others will clone, just like Litecoin had countless clones, and Vertcoin will, but with a much better design. A perfect Peercoin, energy efficient, legit with limited proof of work, and addictive once people do their first Minting. (Been Minting PHS for awhile now, it *is* fun)

Mintpal is also one of the most solid exchanges, and I don't think they will be dropping MINT. Nor do I have to worry about Bitcoin vanishing there, which is nice for a change. Even Cryptsy copied the voting system of Mintpal, as it is better to have it out in the open rather than behind closed doors as we have grown used to. Yes, I am huge fanboy of MINT, but it is an original and a very good long term coin. The traders I talk to all seem to love it, and even the most negative "Sell Everything!" sorts had few bad things to say. The only legitimate complaint seems to be that the devs didn't work for free, for months. Would you?

[mgburks77]

Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead

 I think it is a bad idea because it links the coin back to control by miners. I'm am starting to think the issue with distribution is miners getting too much coin, not a premine.

Perhaps a 100% PoS premine with a totally transparent sell off at a predetermined very low price until the premine is gone would be the fairest market solution to all parties involved. The devs would make a lot of money for their efforts, people would get equal access to affordable currency, and miners who have 500 million coins manipulating price would be a thing of the past.

Miners have too much power in the equation.

[CryptoClub]

http://www.sovnumisltd.com/alt-currency.html

Notice the three cryptos this company is accepting for real gold and silver coins. Bitcoin, Blackcoin, and Mintcoin. Looks like they were doing their research. (Not my company, just thought it was interesting they picked three of the safest long term coins)

[dogechode]

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.

Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead

They are just theorizing that blackcoin will suddenly become the most popular POS coin because it is start it's own special multipool where miners get paid out in blackcoin. Or they are just trying to hype up a coin they already are heavily invested in lol. I wouldn't worry too much.

Also, just for the record, multipools did/do still have a direct effect on mint as well, because multipools could have mined the shit out of it early on before it went POS and not everyone necessarily sold their coins when they were mining, but they may be dumping them in droves now, hampering the coin's price growth.

[richlist]

Multipool is nice. The volume is pump..
We must got multipool.we must....

[Rubberduckie]

Now is a good time to buy

[StolenCoinSalesman]

Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead

 I think it is a bad idea because it links the coin back to control by miners. I'm am starting to think the issue with distribution is miners getting too much coin, not a premine.

Perhaps a 100% PoS premine with a totally transparent sell off at a predetermined very low price until the premine is gone would be the fairest market solution to all parties involved. The devs would make a lot of money for their efforts, people would get equal access to affordable currency, and miners who have 500 million coins manipulating price would be a thing of the past.

Miners have too much power in the equation.

Something like that was sort of done it was called nxtcoin

[skeem]

Mintcoin is what I need, I love it!

But please go to http://www.mintcointalk.com/ to discuss it.

[mgburks77]

Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead

 I think it is a bad idea because it links the coin back to control by miners. I'm am starting to think the issue with distribution is miners getting too much coin, not a premine.

Perhaps a 100% PoS premine with a totally transparent sell off at a predetermined very low price until the premine is gone would be the fairest market solution to all parties involved. The devs would make a lot of money for their efforts, people would get equal access to affordable currency, and miners who have 500 million coins manipulating price would be a thing of the past.

Miners have too much power in the equation.

Something like that was sort of done it was called nxtcoin

Yes, I was into nxt at one time and it was close to what I was looking for (but it has some flaws imho, which I won't go into) except the distribution was to several large stakeholders who then had control of the environment. I would like to see the distribution controlled by a transparent committee and be like for 1 satoshi per coin until the entire bulk of the currency is sold onto to the open market.

That would make the fairest distribution of all for a PoS coin. No party or cartel would have too much power at the start of the coin.

[skeem]

Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead

 I think it is a bad idea because it links the coin back to control by miners. I'm am starting to think the issue with distribution is miners getting too much coin, not a premine.

Perhaps a 100% PoS premine with a totally transparent sell off at a predetermined very low price until the premine is gone would be the fairest market solution to all parties involved. The devs would make a lot of money for their efforts, people would get equal access to affordable currency, and miners who have 500 million coins manipulating price would be a thing of the past.

Miners have too much power in the equation.

Something like that was sort of done it was called nxtcoin

Yes, I was into nxt at one time and it was close to what I was looking for (but it has some flaws imho, which I won't go into) except the distribution was to several large stakeholders who then had control of the environment. I would like to see the distribution controlled by a transparent committee and be like for 1 satoshi per coin until the entire bulk of the currency is sold onto to the open market.

That would make the fairest distribution of all for a PoS coin. No party or cartel would have too much power at the start of the coin.

I have done the same thing. I only opened nxt once, closed it, uninstalled it and never wanted to see it any more. nxt looks like a forest system, maybe some dangers are hiding behind. We don't want such a system.

[CatKiwi]

Some big dumping going on - great time to buy at 18 before the correction back up to 19-20. Remember, this is caused by those dumping Mint to buy into Blackcoin and ride the wave, this is NOT because of the coin or any perceived faults with it, just people wanting to try their hand at making a bit of BTC before Blackcoin crashes.

[coolbeans94]

Personally, I think this is just a consolidation period for Mintcoin. It needs consolidation and a shake out of the weak hands and get-rich-quickers. Once all of the non-believers are gone we will easily reach new all-time-highs. Mint is actually holding up very well as it is still up overall. The price went up 1,600% in less than a week (while it was still mineable - which is significantly a good sign), then lost about 80% on the correction, and now we are back up about ~50% again from that; overall up still ~400%. Mint is going places long-term.  There are always going to be those who are chasing massive gains but Mint is still steadily rising in market cap after the correction; volume may be in a slump at the moment but these things go in waves and trades are still happening every hour.

[philipvdlinde]

Well I rode the BC wave succesfully I bought @ 1900 sats and I sold @ 2150 and 2250 sats. I made 0,1 btc profits which is also nice.

[Party Hard]

Well I rode the BC wave succesfully I bought @ 1900 sats and I sold @ 2150 and 2250 sats. I made 0,1 btc profits which is also nice.

That's nice, but I suggest you post your boast it in the Blackcoin forum, not here.

[philipvdlinde]

Well I rode the BC wave succesfully I bought @ 1900 sats and I sold @ 2150 and 2250 sats. I made 0,1 btc profits which is also nice.

That's nice, but I suggest you post your boast it in the Blackcoin forum, not here.

well I am still a mintcoin holder with 5 million coins in the longterm, but since I don't have many resources to work with I needed to sell some mint in order to make some profits of it.

[richlist]

If we dont make multipool, mint will trashbag. just make multipool or dump forever.