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

[PCJargon]

Can someone explain the interest rates?

So a Mintcoin generates 20% the first year. Then if it's traded to a different client, it will only generate 20% depending on how much time is left in its first year? After 4 years, all Mintcoins from the first 5 weeks will generate only 5%? But there are people still mining at 1 Mintcoin / block continuously?

The PoS minting generates blocks that are mined by wallets and small amount of PoW that is still occurring (i assume), keeping the network up.

Yes, but I'm trying to figure out coin life. Does a Mintcoin life reset back to 20% when traded to other people. If not, then does the client keep track of which coins are at a higher interest rate so it knows which ones to trade.  

For a year after Mint was released, the interest rate is such that if you were to keep all your mints in your wallet without moving them for the entire year, you'd make 20%. Any 20 day PoS minting that occurs will be around 1.3-1.5% (whatever it factors out to, I forget), and after the first year any PoS minting will be towards the decreased percent.

The percent increase from PoS you receive is not about how long you've been minting, it's about how many years Mintcoin has been around.

[1714044231]

1714044231

[1714044231]

1714044231

[1714044231]

1714044231

[1714044231]

1714044231

[1714044231]

1714044231

[lecristoph]

http://fafner.org is up for OPEN BETA.
Feel free to register and start trading. If you find any bugs, don't hesitate to contact me.
Happy trading!  

[mintcointeam]

https://prelude.io/ is now offering direct trading to and from USD, yay!

[virtualfaqs]

Can someone explain the interest rates?

So a Mintcoin generates 20% the first year. Then if it's traded to a different client, it will only generate 20% depending on how much time is left in its first year? After 4 years, all Mintcoins from the first 5 weeks will generate only 5%? But there are people still mining at 1 Mintcoin / block continuously?

The PoS minting generates blocks that are mined by wallets and small amount of PoW that is still occurring (i assume), keeping the network up.

Yes, but I'm trying to figure out coin life. Does a Mintcoin life reset back to 20% when traded to other people. If not, then does the client keep track of which coins are at a higher interest rate so it knows which ones to trade.  

For a year after Mint was released, the interest rate is such that if you were to keep all your mints in your wallet without moving them for the entire year, you'd make 20%. Any 20 day PoS minting that occurs will be around 1.3-1.5% (whatever it factors out to, I forget), and after the first year any PoS minting will be towards the decreased percent.

The percent increase from PoS you receive is not about how long you've been minting, it's about how many years Mintcoin has been around.

Sorry. I'm not following the terminology.

When you say "Mint", you mean Mintcoin in general?

Basically if I hold Mintcoins in my wallet for 1 year I make 20% and doesn't matter the coin age? And if I get more Mintcoins later will the system keep track which Mintcoins are newser so I send out lower interest rate coins?

Can you explain 20 day PoS minting. I thought I read it in the FAQ, but not sure where you get 1.3-1.5%.

[PCJargon]

Can someone explain the interest rates?

So a Mintcoin generates 20% the first year. Then if it's traded to a different client, it will only generate 20% depending on how much time is left in its first year? After 4 years, all Mintcoins from the first 5 weeks will generate only 5%? But there are people still mining at 1 Mintcoin / block continuously?

The PoS minting generates blocks that are mined by wallets and small amount of PoW that is still occurring (i assume), keeping the network up.

Yes, but I'm trying to figure out coin life. Does a Mintcoin life reset back to 20% when traded to other people. If not, then does the client keep track of which coins are at a higher interest rate so it knows which ones to trade.  

For a year after Mint was released, the interest rate is such that if you were to keep all your mints in your wallet without moving them for the entire year, you'd make 20%. Any 20 day PoS minting that occurs will be around 1.3-1.5% (whatever it factors out to, I forget), and after the first year any PoS minting will be towards the decreased percent.

The percent increase from PoS you receive is not about how long you've been minting, it's about how many years Mintcoin has been around.

Sorry. I'm not following the terminology.

When you say "Mint", you mean Mintcoin in general?

Basically if I hold Mintcoins in my wallet for 1 year I make 20% and doesn't matter the coin age? And if I get more Mintcoins later will the system keep track which Mintcoins are newser so I send out lower interest rate coins?

Can you explain 20 day PoS minting. I thought I read it in the FAQ, but not sure where you get 1.3-1.5%.

Think of it as a savings account at the bank. You make Total 20% in a year, but it compounds every 20 days. So every 20 days you get a small portion of that 20%. (This only occurs if the coins stay in your wallet for 20 days without being moved)

Now lets say the bank offering you that 20% rate is only offering that rate to its' clients for one year, but you'd need to sign up immediately to get all 20%. If you open your account and there's only 6 months left in that year, you only get 10% increase across those 6 months because you only benefited from half of that year at that rate.

EDIT: The amount you actually receive every 20 days is a little over 1% interest during the first year after Mintcoin was officially released. The second year that Mintcoin has been alive, you'll receive increments of interest based on however 20 days divides into 365 to make up 15% increase across the year.

[moderndezigns]

https://prelude.io/ is now offering direct trading to and from USD, yay!

This is good news.. I'll start letting friends and family know they can now buy Mintcoins directly with USD

[casacup]

I'm starting to worry about the low volume...

[moderndezigns]

don't worry all it takes is a small buy to increase volume

[cozk]

How to make sure your coin will fail:

Step 1 : Set initial reward to around 500, 000 coins
Step 2: Cut that reward to 1 coin

ENJOY !

[mgburks77]

Here's some food for thought:

The value of this coin is going to drop until all speculators/volatility are shaken out of the market. Stuff like the multipool etc is just prolonging that stage.

Let it the floor and then build value from the ground up by developing the mobile app and developing various niche markets etc, those aspects that have fundamental value. 

Multipool adds no real value, just contradicts the stated purposed of the brand, inflates the price and attracts more fickle speculators that add volatility to the currency with actually doing anything to develop stuff that adds value. They are only here while they can draw money from the project then they bail as soon as they can. This is why everyone thinks altcoins are shitcoins and a pump and dump.

If we want MINT to survive and prosper we have to transcend the "shitcoin" paradigm somehow.   

[dogechode]

one of the biggest problems is that people try to get in too early before a "real" price has been established. Maybe 10-12 sat is just going to be the value of this coin for quite a while - what's wrong with that? The only people that are bitching about it are people that bought in while it was higher - they just bought in too early.

The whole crypto scene is still very new and undeveloped and has a lot of growing pains to go through. People just expect too much too fast.

[skeem]

I love MintCoin, I also need your support. I will write articles about MintCoin frequently from now on. They are written in Chinese, maybe I will write some English articles. I am not sure because my English skills are not well. If you love MintCoin too, please link to my site. I am preciated with your links.
http://www.bsdbit.zfs.cc/docs/cutter/coins/
http://www.bsdbit.zfs.cc/docs/cutter/coins/index.php?page=MintCoin

[mgburks77]

I love MintCoin, I also need your support. I will write articles about MintCoin frequently from now on. They are written in Chinese, maybe I will write some English articles. I am not sure because my English skills are not well. If you love MintCoin too, please link to my site. I am preciated with your links.
http://www.bsdbit.zfs.cc/docs/cutter/coins/
http://www.bsdbit.zfs.cc/docs/cutter/coins/index.php?page=MintCoin

Thank you so much for your efforts! 

[mgburks77]

one of the biggest problems is that people try to get in too early before a "real" price has been established. Maybe 10-12 sat is just going to be the value of this coin for quite a while - what's wrong with that? The only people that are bitching about it are people that bought in while it was higher - they just bought in too early.

The whole crypto scene is still very new and undeveloped and has a lot of growing pains to go through. People just expect too much too fast.

Yeah, I'm not even to my 2nd 20 day minting cycle yet. We are still in the very early stages of development.

[deadmanwalking]

Here's some food for thought:

The value of this coin is going to drop until all speculators/volatility are shaken out of the market. Stuff like the multipool etc is just prolonging that stage.

Let it the floor and then build value from the ground up by developing the mobile app and developing various niche markets etc, those aspects that have fundamental value. 

Multipool adds no real value, just contradicts the stated purposed of the brand, inflates the price and attracts more fickle speculators that add volatility to the currency with actually doing anything to develop stuff that adds value. They are only here while they can draw money from the project then they bail as soon as they can. This is why everyone thinks altcoins are shitcoins and a pump and dump.

If we want MINT to survive and prosper we have to transcend the "shitcoin" paradigm somehow.   

Your argument against a multipool makes no sense. A multi pool devalues other altcoins while increasing the value of Mintcoin. That is a FACT.
Most altcoins exist purely to be sold for Bitcoin.

Give me a valid argument against a multipool. I BEG you.

[mgburks77]

Here's some food for thought:

The value of this coin is going to drop until all speculators/volatility are shaken out of the market. Stuff like the multipool etc is just prolonging that stage.

Let it the floor and then build value from the ground up by developing the mobile app and developing various niche markets etc, those aspects that have fundamental value. 

Multipool adds no real value, just contradicts the stated purposed of the brand, inflates the price and attracts more fickle speculators that add volatility to the currency with actually doing anything to develop stuff that adds value. They are only here while they can draw money from the project then they bail as soon as they can. This is why everyone thinks altcoins are shitcoins and a pump and dump.

If we want MINT to survive and prosper we have to transcend the "shitcoin" paradigm somehow.   

Your argument against a multipool makes no sense. A multi pool devalues other altcoins while increasing the value of Mintcoin. That is a FACT.
Most altcoins exist purely to be sold for Bitcoin.

Give me a valid argument against a multipool. I BEG you.

I already gave you a valid argument, you quite simply don't have relevant expertise to understand it. You see a short term "pump" as desirable so you can unload your coins quick. If that is your only goal of course what I said doesn't make sense to you. What you describe as "FACT" is parasitism, plain and simple, not something that adds fundamental value to the brand.

However if you must have a multipool be my guest I'm not going to try and stop you, even though I think it is a wasted effort.

[hilgi]

How to make sure your coin will fail:

Step 1 : Set initial reward to around 500, 000 coins
Step 2: Cut that reward to 1 coin

ENJOY !

You must not have read about the minting.

[EarnCryptoCoins]

EarnCryptoCoins

172097 MINT already claimed!

4600+ members/1600+ claiming MINT every hour!

29000+ claims/4100+ transactions done!

Join now and get your free MintCoins!

MintCoin Faucet
Pays from 1.00 to 2.00 MINT per hour.
10% referral earnings.
Payouts are done automatically every day.

DONATIONS
MpQGfDALDc668HLN4x3RLGx313Wg53ozTA
(After donating PM us with TXID, short title(40 chars maximum) and a link so we can publish them in the donations sections on coin page)

 

The Faucet is DRY, please consider DONATING some MintCoin so we can continue the giveaway. Thank You!  

MintCoin Raffle
Tickets 100 MINT each.
Draw every 12 hours.
1% house edge to support raffle and faucet.

[deadmanwalking]

Here's some food for thought:

The value of this coin is going to drop until all speculators/volatility are shaken out of the market. Stuff like the multipool etc is just prolonging that stage.

Let it the floor and then build value from the ground up by developing the mobile app and developing various niche markets etc, those aspects that have fundamental value. 

Multipool adds no real value, just contradicts the stated purposed of the brand, inflates the price and attracts more fickle speculators that add volatility to the currency with actually doing anything to develop stuff that adds value. They are only here while they can draw money from the project then they bail as soon as they can. This is why everyone thinks altcoins are shitcoins and a pump and dump.

If we want MINT to survive and prosper we have to transcend the "shitcoin" paradigm somehow.   

Your argument against a multipool makes no sense. A multi pool devalues other altcoins while increasing the value of Mintcoin. That is a FACT.
Most altcoins exist purely to be sold for Bitcoin.

Give me a valid argument against a multipool. I BEG you.

I already gave you a valid argument, you quite simply don't have relevant expertise to understand it. You see a short term "pump" as desirable so you can unload your coins quick. If that is your only goal of course what I said doesn't make sense to you. What you describe as "FACT" is parasitism, plain and simple, not something that adds fundamental value to the brand.

However if you must have a multipool be my guest I'm not going to try and stop you, even though I think it is a wasted effort.

I don't have the relevant expertise? You don't know a thing about me, and your argument is far from valid.

Constant buy pressure and further distribution of the coin is anything but fickle. Unless you think it's not working for Bitcoin. I'd love to see you explain that one.

Also, I have no intention of unloading my coins, so don't quit your day job to start up that new fortune teller booth. You and the Mintcoin team seem to be fine watching the price of Mintcoin plummet.

When active members of the community are working toward a resolution, we are not only ignored, but actively worked against. If you think posting links to a bunch of fly-by-night internet merchants is going to add value to Mint, you are sorely mistaken.

People aren't as stupid as you think they are, if the developers continue to let the coin stagnate someone will come along and do it better.

[mgburks77]

As I stated, I'm not opposed to your efforts.