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

[Kergekoin]

OP says that you will get +20% in first year. Thats what you get for your unmoved coins.
It cant be any more clearer than this.

Pretty much all coins have yearly interest periods. Only percentages varies.
The only coin which i know to have different interest period is Digit. Digit interest period is 30 days instead of being 1 year.

Edit: I think there also was one sha256 coin which had period shorter than 1 year. I dont remember its name tho.

[paspi]

What is the [Stake:            ] part of the wallet supposed to show?  All my coins are in the [Balance: 118....] line.  If I have no stake is that why I'm not generating coins?

If you generate a POS block (for gaining interest), the funds that generated the interest are locked for 50 confirmations. During this period, they will be removed from displayed Balance and put into Stake until they mature. After 50 confirmations are completed, they'll be moved from Stake and put back into Balance with added interest

[tongai]

I have a doubt in my purse MINT is now locked up, so I can get the interest POS it? Someone said to me there is no need to lock off the wallet can take POS interest, I really do not know how to do it. Please help me!

[skeem]

I have a doubt in my purse MINT is now locked up, so I can get the interest POS it? Someone said to me there is no need to lock off the wallet can take POS interest, I really do not know how to do it. Please help me!

Keep unlocked and opening

[Chase]

https://mywl.lt/voting/

Voted 3 times and continuing twice a day.

[visual111]

What's the url for a working blockchain explorer? The first one to pop up doesn't seem to be updated. The most recent transaction is from April 9

http://mintcoin-explorer.info

[Beaverslayer]

What's the url for a working blockchain explorer? The first one to pop up doesn't seem to be updated. The most recent transaction is from April 9

http://mintcoin-explorer.info

http://mint.blockx.info/get/chain/MintCoin

[stan26]

How about reducing the coin total to 50 billion instead of 70 billion. Then a new minting period could be outlined with an initial minting period of 80% in ONE month, then 40% for the next 2 months, 20% for the next 4 months, 10% for the next 8 months, 5% for the next 16 months, then it would be 2.5% minting every year from then on.

I know this would require a lot of changes and it might not be possible but in my opinion it would generate a lot of new interest.

Imagine the hype and buying that would be generated from an 80% minting period of one month. with 80% minting if you had 600000 MINT you could increase it to a million. In my opinion there is not a lot of incentive for Mintcoin because the Proof of Stake rewards are low. If you did this people would probably change their minds and rush to buy MINT. Because then minting will look like a great alternative to mining. And people will have a reason to consider buying MINT before the minting "halves" and the big minting rewards decrease.

Just an idea I had...

[stormia]

https://mywl.lt/voting/

Voted 3 times and continuing twice a day.

Voted!

[Kergekoin]

How about reducing the coin total to 50 billion instead of 70 billion. Then a new minting period could be outlined with an initial minting period of 80% in ONE month, then 40% for the next 2 months, 20% for the next 4 months, 10% for the next 8 months, 5% for the next 16 months, then it would be 2.5% minting every year from then on.

I know this would require a lot of changes and it might not be possible but in my opinion it would generate a lot of new interest.

Imagine the hype and buying that would be generated from an 80% minting period of one month. with 80% minting if you had 600000 MINT you could increase it to a million. In my opinion there is not a lot of incentive for Mintcoin because the Proof of Stake rewards are low. If you did this people would probably change their minds and rush to buy MINT. Because then minting will look like a great alternative to mining. And people will have a reason to consider buying MINT before the minting "halves" and the big minting rewards decrease.

Just an idea I had...

Changing the ground rules in the middle of the game is pretty much never a good idea.
Especially if the change is as radical as this.
Not going to happen.
Personally i would ditch my stake of Mintcoin immediately, if developer would announce a hard fork which completely changes how coin was initially designed. Mintcoin and its developer would lose all credibility because you would never know what comes next...

[tongai]

I have a doubt in my purse MINT is now locked up, so I can get the interest POS it? Someone said to me there is no need to lock off the wallet can take POS interest, I really do not know how to do it. Please help me!

Keep unlocked and opening

Manually open the wallet is unlocked every day, or completely cancel the password?

[qwizzie]

I have a doubt in my purse MINT is now locked up, so I can get the interest POS it? Someone said to me there is no need to lock off the wallet can take POS interest, I really do not know how to do it. Please help me!

Keep unlocked and opening

Manually open the wallet is unlocked every day, or completely cancel the password?

version 1.9.1 :

no need to cancel password

1 : unlock wallet
2 : check if coins are mature enough (hover with your mousepointer over symbol left to your connection bar in your wallet)
3 : if coins mature --> keep wallet unlocked for 12-24 hours
4 : look at your transactions for incoming mint transactions
5 : when minted successfully,  lock wallet .. wait 20 days and then back to step 1

[dogechode]

For the 11 billionth time, we need people to leave the wallet open 24x7x365 or as much as possible. Encouraging people to just open it when they expect a stake to happen and then close as soon as it stakes is bad for the network, bad for security, and reduces in receiving less overall stake over the course of the year. JUST LEAVE IT OPEN!

I would be 1000% in favor of reducing the overall coin cap if that is possible. 70 billion is just way too much. Other coins that have changed their cap have seen a value increase.

[Kergekoin]

I would be interested to read mintcointeam statement regarding this. Just to settle it down already.

Theres plenty of wallets open regularly. Not a problem for security.
Forget the coin cap. Its just a number which is not going to be hit any time soon. Its more than 10 years away.

----


Still waiting for anyone to fix the unlocking bug.

[coolbeans94]

How about reducing the coin total to 50 billion instead of 70 billion. Then a new minting period could be outlined with an initial minting period of 80% in ONE month, then 40% for the next 2 months, 20% for the next 4 months, 10% for the next 8 months, 5% for the next 16 months, then it would be 2.5% minting every year from then on.

I know this would require a lot of changes and it might not be possible but in my opinion it would generate a lot of new interest.

Imagine the hype and buying that would be generated from an 80% minting period of one month. with 80% minting if you had 600000 MINT you could increase it to a million. In my opinion there is not a lot of incentive for Mintcoin because the Proof of Stake rewards are low. If you did this people would probably change their minds and rush to buy MINT. Because then minting will look like a great alternative to mining. And people will have a reason to consider buying MINT before the minting "halves" and the big minting rewards decrease.

Just an idea I had...

Actually, Having 70 billion coins someday is a good thing. It is better as it allows for greater upward scalability, and liquidity. The coin cap likely won't be reached for over 30 years, so you don't have to worry about inflation in the future.

Also, if you change the reward rate, it makes no difference in value, as you cannot create value from nothing, and a huge interest rate, just pumps the money supply up faster, and deflates the value of all existing coins. For example, all else equal, if you start with 1-billion coins and a month later there is 1.8 billion coins in the money supply, then the value for each individual coin would have dropped by 70%. The only thing that matters is supply and demand. Mintcoin already has a limited supply, and next year, the supply gets even tighter...there is nothing wrong with Mintcoin's design and doesn't need changing. In 3 years, when the annual payout rate drops to 5%, the money supply will be increasing only at approximately 3% per year, because not everyone chooses to mint their coins. If you choose to save your coins and Mint, then you will be getting ahead by the difference of 2% each year.

[paspi]

Android wallet update 6:

Good news!

The following is the first transaction ever received and forwarded by mintcoinj

http://mint.blockx.info/get/tx/68fec0ad06a76d1d37de929e14b6ad6d17352b715de4f5bcce648333e9bc4a9c






What's included & currently working in mintcoinj:

• The first POW+POS java bitcoin library
• A TxTracking blockchain & blockstore implementation: a compromise between Full Pruned Block Chain and SPV Block Chain
  • Like a Full Pruned Block Chain, it keeps track of ALL unspent transaction outputs since genesis block. Removes unnecessary old data.
  • It only verifies scripts of coinstake transactions (1 coinstake per POS block), so CPU-wise it is light-weight like a SPV Block Chain
  • Unfortunately, it is not as lightweight as a Simple Payment Verification system, but technically there is no way to make bitcoin-SPV style for a POS coin security-wise.
  • Processed data holds around 67 mb on disk (as of block 343262).
• Proof of Stake Protocol (PPCoin v0.3) : 
  • Blockchain calculates stake modifiers correctly
  • Blockchain calculates and verifies stake hashes correctly (Modifiers mentioned above are required for verification). This guarantees the core security of a POS coin.
  • Block signatures are supported and verified (PPCoin protocol requires each block has to be signed by owner of coinstake to prevent replaying attacks)
• Various security aspects handled due to being POS coin:
  • Attacks caused by flooding side chains with invalid POS blocks (blocks that have correct header difficulty, but don't match coinstake protocol) are rejected on receipt, so the low block header difficulty won't cause attacks (Normal bitcoinj trusts only header difficulty, as expected for a POW only coin. This is not the case for POW+POS coins)
  • Similarly, flooding side chains with unverifiable POS blocks (blocks that have correct header diff, but unable to verify/reject coinstake due to the output being spent&removed on main chain) are prevented due to ignorance of their difficulty. A side chain can overcome the main chain only if its *verifiable* blocks constitute a greater amount of work. Unverifiable blocks count as zero work (Until side chain becomes the main chain, where every block will be verified one by one on reorganization)

[okaynow]

Manually open the wallet is unlocked every day, or completely cancel the password?

Unlock Wallet

On password window, bottom left, check box that says "for minting only"

[stormia]

Android wallet update 6:

Good news!

The following is the first transaction ever received and forwarded by mintcoinj

http://mint.blockx.info/get/tx/68fec0ad06a76d1d37de929e14b6ad6d17352b715de4f5bcce648333e9bc4a9c






What's included & currently working in mintcoinj:

• The first POW+POS java bitcoin library
• A TxTracking blockchain & blockstore implementation: a compromise between Full Pruned Block Chain and SPV Block Chain
  • Like a Full Pruned Block Chain, it keeps track of ALL unspent transaction outputs since genesis block. Removes unnecessary old data.
  • It only verifies scripts of coinstake transactions (1 coinstake per POS block), so CPU-wise it is light-weight like a SPV Block Chain
  • Unfortunately, it is not as lightweight as a Simple Payment Verification system, but technically there is no way to make bitcoin-SPV style for a POS coin security-wise.
  • Processed data holds around 67 mb on disk (as of block 343262).
• Proof of Stake Protocol (PPCoin v0.3) : 
  • Blockchain calculates stake modifiers correctly
  • Blockchain calculates and verifies stake hashes correctly (Modifiers mentioned above are required for verification). This guarantees the core security of a POS coin.
  • Block signatures are supported and verified (PPCoin protocol requires each block has to be signed by owner of coinstake to prevent replaying attacks)
• Various security aspects handled due to being POS coin:
  • Attacks caused by flooding side chains with invalid POS blocks (blocks that have correct header difficulty, but don't match coinstake protocol) are rejected on receipt, so the low block header difficulty won't cause attacks (Normal bitcoinj trusts only header difficulty, as expected for a POW only coin. This is not the case for POW+POS coins)
  • Similarly, flooding side chains with unverifiable POS blocks (blocks that have correct header diff, but unable to verify/reject coinstake due to the output being spent&removed on main chain) are prevented due to ignorance of their difficulty. A side chain can overcome the main chain only if its *verifiable* blocks constitute a greater amount of work. Unverifiable blocks count as zero work (Until side chain becomes the main chain, where every block will be verified one by one on reorganization)

Yess!! This is amazing news!!!

[coolbeans94]

Android wallet update 6:

Good news!

The following is the first transaction ever received and forwarded by mintcoinj

http://mint.blockx.info/get/tx/68fec0ad06a76d1d37de929e14b6ad6d17352b715de4f5bcce648333e9bc4a9c






What's included & currently working in mintcoinj:

• The first POW+POS java bitcoin library
• A TxTracking blockchain & blockstore implementation: a compromise between Full Pruned Block Chain and SPV Block Chain
  • Like a Full Pruned Block Chain, it keeps track of ALL unspent transaction outputs since genesis block. Removes unnecessary old data.
  • It only verifies scripts of coinstake transactions (1 coinstake per POS block), so CPU-wise it is light-weight like a SPV Block Chain
  • Unfortunately, it is not as lightweight as a Simple Payment Verification system, but technically there is no way to make bitcoin-SPV style for a POS coin security-wise.
  • Processed data holds around 67 mb on disk (as of block 343262).
• Proof of Stake Protocol (PPCoin v0.3) : 
  • Blockchain calculates stake modifiers correctly
  • Blockchain calculates and verifies stake hashes correctly (Modifiers mentioned above are required for verification). This guarantees the core security of a POS coin.
  • Block signatures are supported and verified (PPCoin protocol requires each block has to be signed by owner of coinstake to prevent replaying attacks)
• Various security aspects handled due to being POS coin:
  • Attacks caused by flooding side chains with invalid POS blocks (blocks that have correct header difficulty, but don't match coinstake protocol) are rejected on receipt, so the low block header difficulty won't cause attacks (Normal bitcoinj trusts only header difficulty, as expected for a POW only coin. This is not the case for POW+POS coins)
  • Similarly, flooding side chains with unverifiable POS blocks (blocks that have correct header diff, but unable to verify/reject coinstake due to the output being spent&removed on main chain) are prevented due to ignorance of their difficulty. A side chain can overcome the main chain only if its *verifiable* blocks constitute a greater amount of work. Unverifiable blocks count as zero work (Until side chain becomes the main chain, where every block will be verified one by one on reorganization)

Yess!! This is amazing news!!!

+1 Awesome!

[mrqu1cky]

Android wallet update 6:

Good news!

The following is the first transaction ever received and forwarded by mintcoinj

http://mint.blockx.info/get/tx/68fec0ad06a76d1d37de929e14b6ad6d17352b715de4f5bcce648333e9bc4a9c

https://i.imgur.com/NxLHY3K.png




What's included & currently working in mintcoinj:

• The first POW+POS java bitcoin library
• A TxTracking blockchain & blockstore implementation: a compromise between Full Pruned Block Chain and SPV Block Chain
  • Like a Full Pruned Block Chain, it keeps track of ALL unspent transaction outputs since genesis block. Removes unnecessary old data.
  • It only verifies scripts of coinstake transactions (1 coinstake per POS block), so CPU-wise it is light-weight like a SPV Block Chain
  • Unfortunately, it is not as lightweight as a Simple Payment Verification system, but technically there is no way to make bitcoin-SPV style for a POS coin security-wise.
  • Processed data holds around 67 mb on disk (as of block 343262).
• Proof of Stake Protocol (PPCoin v0.3) : 
  • Blockchain calculates stake modifiers correctly
  • Blockchain calculates and verifies stake hashes correctly (Modifiers mentioned above are required for verification). This guarantees the core security of a POS coin.
  • Block signatures are supported and verified (PPCoin protocol requires each block has to be signed by owner of coinstake to prevent replaying attacks)
• Various security aspects handled due to being POS coin:
  • Attacks caused by flooding side chains with invalid POS blocks (blocks that have correct header difficulty, but don't match coinstake protocol) are rejected on receipt, so the low block header difficulty won't cause attacks (Normal bitcoinj trusts only header difficulty, as expected for a POW only coin. This is not the case for POW+POS coins)
  • Similarly, flooding side chains with unverifiable POS blocks (blocks that have correct header diff, but unable to verify/reject coinstake due to the output being spent&removed on main chain) are prevented due to ignorance of their difficulty. A side chain can overcome the main chain only if its *verifiable* blocks constitute a greater amount of work. Unverifiable blocks count as zero work (Until side chain becomes the main chain, where every block will be verified one by one on reorganization)

Congratulations, this is awesome news!  I look forward to reviewing the code on github.  If you need help with configuration of the android wallet source, send me a pm.  This is a good day for all POS coins.