MoneyMuscles
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Activity: 94
Merit: 10
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March 15, 2014, 09:29:45 PM |
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Yeah I'm a little confused why or how the multipool will bring the price up?
You automatically mine the most profitable coin there is to mine -> its automatically converted btc which is then used to buy mint at market value -> when all of the offered mint is bought up then the pool automatically buys at the next available price. Buy pressure. |
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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Crindon
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March 15, 2014, 09:30:21 PM |
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Yeah I'm a little confused why or how the multipool will bring the price up?
Your mined coins get exchanged for Bitcoins. The operator uses the Bitcoins to buy Mintcoins on your behalf, then gives them to you. This increase buy pressure/demand, thereby pushing the price upwards. Very cool concept. |
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Vann
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March 15, 2014, 09:31:38 PM |
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Yeah I'm a little confused why or how the multipool will bring the price up?
Since MINT is essentially a pure PoS stage going forward, the multi-pools will need to purchase large quantities of MINT in the open market to pay out miners. The increased buy volume should increase the price, though I would say with MINT's much higher total supply maybe not as concentrated an effect as with BC. |
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Ferris419
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March 15, 2014, 09:32:23 PM |
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Yeah I'm a little confused why or how the multipool will bring the price up?
Your mined coins get exchanged for Bitcoins. The operator uses the Bitcoins to buy Mintcoins on your behalf, then gives them to you. This increase buy pressure/demand, thereby pushing the price upwards. Very cool concept. That's what I thought. Ok makes sense. But what happens when it's not profitable to multipool for mint? The price drops again? |
Bitcoin is gonna hit 100K usd
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Crindon
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March 15, 2014, 09:42:44 PM |
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Yeah I'm a little confused why or how the multipool will bring the price up?
Your mined coins get exchanged for Bitcoins. The operator uses the Bitcoins to buy Mintcoins on your behalf, then gives them to you. This increase buy pressure/demand, thereby pushing the price upwards. Very cool concept. That's what I thought. Ok makes sense. But what happens when it's not profitable to multipool for mint? The price drops again? The multipool will switch automatically. This means if the multipool has your rig mining Litecoin and based on the mining difficulty and LTC/BTC exchange rate shows it's the most profitable, you will continue to mine Litecoin. Say for instance, Dogecoin prices keep rising like crazy because there is a lot of hype on Reddit, then the multipool will switch your miners to mine Dogecoin. It will automatically pick the most profitable coin to mine, profitable against Bitcoin. The mined coins will be exchanged for Bitcoins, then the Bitcoins are used to buy Mintcoin. There should always be an altcoin that is most profitable to mine, so that won't be an issue. It's now just a matter of people wanting to be paid out in Mintcoin which will keep the demand up. We need to get more people wanting to use a Mintcoin multipool versus some other altcoin multipool. |
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ahbartsch
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March 15, 2014, 09:43:30 PM |
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Yeah I'm a little confused why or how the multipool will bring the price up?
Your mined coins get exchanged for Bitcoins. The operator uses the Bitcoins to buy Mintcoins on your behalf, then gives them to you. This increase buy pressure/demand, thereby pushing the price upwards. Very cool concept. That's what I thought. Ok makes sense. But what happens when it's not profitable to multipool for mint? The price drops again? It's always profitable because you're multipooling other coins in order to get Mint. If you don't want Mint you wouldn't use the pool. |
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Alty
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March 15, 2014, 09:46:51 PM |
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Very cool concept!  |
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klabanus
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Activity: 34
Merit: 0
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March 15, 2014, 09:50:29 PM |
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http://mintpool.us/mint/ is the multipool for mintcoin. The site isn't completely finished (obviously), but if you want to mine, stratum+tcp://mint.mintpool.us:4444 User: your mintcoin address, pass: X Great, will point my miners on it |
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deadmanwalking
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March 15, 2014, 09:56:51 PM |
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http://mintpool.us/mint/ is the multipool for mintcoin. The site isn't completely finished (obviously), but if you want to mine, stratum+tcp://mint.mintpool.us:4444 User: your mintcoin address, pass: X Great, will point my miners on it Hashrate climbs every time I refresh the page  |
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klabanus
Newbie
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Activity: 34
Merit: 0
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March 15, 2014, 09:58:28 PM |
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http://mintpool.us/mint/ is the multipool for mintcoin. The site isn't completely finished (obviously), but if you want to mine, stratum+tcp://mint.mintpool.us:4444 User: your mintcoin address, pass: X Great, will point my miners on it Hashrate climbs every time I refresh the page Hmm im not getting accepted shares. Reject errors: ' Share is above target' or ' Duplicate share' Edit: it is --scrypt algo, right? |
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dogechode
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March 15, 2014, 10:08:43 PM |
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me too, getting only 'share above target' errors
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philipvdlinde
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March 15, 2014, 10:19:37 PM |
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I have bought back all my mint as soon as I heard this awesome news, this is the thing that mintcoin needs.
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rmoraos
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March 15, 2014, 10:21:54 PM |
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What altcoins are mined ? It would be nice more info about what happens when we point our miners (stats).
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Zackgeno96
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March 15, 2014, 10:23:02 PM |
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stop trying to copy blackcoin...........................
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Falcon256
Newbie
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Activity: 5
Merit: 0
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March 15, 2014, 10:23:41 PM |
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I am also having issues with the new pool. I switched over from the "other" multipool to this. Is anyone getting accepted shares?
I just got a few "Stratum connection to pool 0 interrupted." are they trying to fix it?
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philipvdlinde
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March 15, 2014, 10:23:43 PM |
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What altcoins are mined ? It would be nice more info about what happens when we point our miners (stats).
The most profitable altcoin will be mined constantly. I think that stats would come once the site becomes a little bit more complete. |
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eightspaces
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March 15, 2014, 10:24:30 PM |
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stop trying to copy blackcoin...........................
This is the world of open source and cryptoanarchy. One can do as one pleases  and why bash MINT? I like both Mint and BC |
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Crindon
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March 15, 2014, 10:26:14 PM |
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Blackcoin trade volume and prices are steadily dropping. Mintcoin trade volume and prices are steadily rising.
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