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

[mintcointeam]

As soon as the Android wallet is available, we will organize a big giveaway! Everyone posting a screenshot of their phone along with their address on Twitter, FB or Reddit will receive coins!

[CoinBounties]

MintCoin is now on:

http://coinbounties.com/mint-mintcoin/

Dev let me know if there is any other bounties you would like to add, and ill stay tuned to watch if any get done in the thread.

[omahapoker]

looking good on the android wallet. good luck guys

[Goattrading]

This is an awesome update!

How difficult would it be to create a QR scanner app in the design of Mintcoin?
Would be another cross promo avenue... if possible.

[okaynow]

Android wallet update 7:

Paspi you're doing awesome work mate,
looking forward to using this as a POS app for my tablet at work
and make transactions even smoother.
(i firmly believe that the price downtrend we are seeing now is just the market accomodating itself to receive your release!)

How difficult would it be to create a QR scanner app in the design of Mintcoin?

+1 on this, QR scan would add extra functionality.

[paspi]

This is an awesome update!

How difficult would it be to create a QR scanner app in the design of Mintcoin?
Would be another cross promo avenue... if possible.

What do you mean? Wallet currently has a built-in QR scanner (provided by another application I suppose), and it doesn't have any branding on it -- just a full screen camera view.

[ranlo]

why aren't exchanges actually minting? is it included in the protocol? 

of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets.

the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer.

Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues.

If you don't know what you are talking about don't reply.

Fractional Reserve banking is when a bank only has to have a fraction of the funds on hand that it is lending. Since an exchange doesn't lend money your claim is ridiculous.

However it is clear that most people aren't ready for cryptos. The point of it is to get away from banks etc, not recreate the mainstream financial system on a small scale.

I will suggest you read up on what it means on Wikipedia or some other resource. This is quite literally exactly what minting does:

I have 1500 coins. I am staking 1000 of them (lending them to the blockchain to be added into a new block). If someone wants to withdraw 1500 coins, they can't because I don't HAVE 1500; I only have 500. I have to wait until the rest are returned from the blockchain/minting process before they can be sent out again.

[sidhujag]

Noone knows purpose of something created for decentralized use.. Its just supposed to help in some way. Maybe cryptos will end up used by banks to help international business and thats it... maybe they will end up changing banking altogether. For someone to restrict their vision shows that they are inept and not capable of thinking logically. Maybe they are butthurt because of something in their life but to come on here and flame people for "not knowing what they are talking about" is just classless.

Furthermore he seems to know what other people are ready for or not.. that in itself should render further discussion useless with this entity.

[NZ_miner]

"...an active team edits the crap out of their ANN Thread on a regular basis so information is not outdated for those who are researching the coin. People who currently research Mintcoin as a possible investment are going to find tons of dead links and a dead website. What’s the chance they’ll want to push their BTC into Mintcoin in that condition?"

[dragonseer]

"...an active team edits the crap out of their ANN Thread on a regular basis so information is not outdated for those who are researching the coin. People who currently research Mintcoin as a possible investment are going to find tons of dead links and a dead website. What’s the chance they’ll want to push their BTC into Mintcoin in that condition?"

The website is back up, what's more you could flag any dead links in the OP rather than quote an old complaint made by someone else.

Looking forward to the Android Wallet!

[mgburks77]

why aren't exchanges actually minting? is it included in the protocol? 

of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets.

the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer.

Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues.

If you don't know what you are talking about don't reply.

Fractional Reserve banking is when a bank only has to have a fraction of the funds on hand that it is lending. Since an exchange doesn't lend money your claim is ridiculous.

However it is clear that most people aren't ready for cryptos. The point of it is to get away from banks etc, not recreate the mainstream financial system on a small scale.

I will suggest you read up on what it means on Wikipedia or some other resource. This is quite literally exactly what minting does:

I have 1500 coins. I am staking 1000 of them (lending them to the blockchain to be added into a new block). If someone wants to withdraw 1500 coins, they can't because I don't HAVE 1500; I only have 500. I have to wait until the rest are returned from the blockchain/minting process before they can be sent out again.

You are wrongly conflating a superficial resemblance between some details about various types of financial transactions and coming to a faulty conclusion.

POS staking is only temporary unavailability and if POS were anyway analogous to FRB you WOULD be able to withdraw those coins during minting, in effect creating money from nothing.

Instead the unavailability of staked funds is for a short duration only, the stake is returned to your wallet within minutes, AND since the stake cannot be "loaned" (withdrawn actually) during the staking process when the funds would be in "reserve" it is totally unlike fractional reserve banking which requires that loans exceeding the reserve be made.

the minting process is analogous to POW mining, funds received from minting are recompense for securing the blockchain and has absolutely nothing to do with lending practices such as fractional reserve banking.

[mgburks77]

"...an active team edits the crap out of their ANN Thread on a regular basis so information is not outdated for those who are researching the coin. People who currently research Mintcoin as a possible investment are going to find tons of dead links and a dead website. What’s the chance they’ll want to push their BTC into Mintcoin in that condition?"

The website is back up, what's more you could flag any dead links in the OP rather than quote an old complaint made by someone else.

Looking forward to the Android Wallet!

none of the merchant sites I checked were broken links, this is just FUD

[DougB62]

"...an active team edits the crap out of their ANN Thread on a regular basis so information is not outdated for those who are researching the coin. People who currently research Mintcoin as a possible investment are going to find tons of dead links and a dead website. What’s the chance they’ll want to push their BTC into Mintcoin in that condition?"

The website is back up, what's more you could flag any dead links in the OP rather than quote an old complaint made by someone else.

Looking forward to the Android Wallet!

none of the merchant sites I checked were broken links, this is just FUD

Oh boy! You can never have enough:

[Jeff Jefferson]

why aren't exchanges actually minting? is it included in the protocol? 

of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets.

the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer.

Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues.

If you don't know what you are talking about don't reply.

Fractional Reserve banking is when a bank only has to have a fraction of the funds on hand that it is lending. Since an exchange doesn't lend money your claim is ridiculous.

However it is clear that most people aren't ready for cryptos. The point of it is to get away from banks etc, not recreate the mainstream financial system on a small scale.

I will suggest you read up on what it means on Wikipedia or some other resource. This is quite literally exactly what minting does:

I have 1500 coins. I am staking 1000 of them (lending them to the blockchain to be added into a new block). If someone wants to withdraw 1500 coins, they can't because I don't HAVE 1500; I only have 500. I have to wait until the rest are returned from the blockchain/minting process before they can be sent out again.

You are wrongly conflating a superficial resemblance between some details about various types of financial transactions and coming to a faulty conclusion.

POS staking is only temporary unavailability and if POS were anyway analogous to FRB you WOULD be able to withdraw those coins during minting, in effect creating money from nothing.

Instead the unavailability of staked funds is for a short duration only, the stake is returned to your wallet within minutes, AND since the stake cannot be "loaned" (withdrawn actually) during the staking process when the funds would be in "reserve" it is totally unlike fractional reserve banking which requires that loans exceeding the reserve be made.

the minting process is analogous to POW mining, funds received from minting are recompense for securing the blockchain and has absolutely nothing to do with lending practices such as fractional reserve banking.

how long are the coins actually staked? 5-10 minutes? that's not that bad.

actually i'm not talking about a bank in the sense of a financial institution. what i am suggesting is in fact an online wallet which makes it easier for people to start with mintcoins. i think such a thing is crucial for the mass adoption. the strongest argument for using mintcoins are the high interest rates. i think we should focus on that and make it as easy as possible for new investors.

also i think we shouldn't make things to difficult legally by including a fiat exchange. that's really complicated on many levels. i think a big wallet people put their mintcoins into is legally absolutely clean. just private persons putting their cryptos in a wallet. nothing more. AND it can be done anonymously which seems to be a BIG point right now.

[mr_random]

How is the MINT android app coming along? I would be interested in reading how it was implemented as a lightweight wallet due to the pos difficulties.

[nickenburg]

While Mintcoin is still cheap, im gonna buy some this weekend.
Increase my holdings, and get some more interest this year.
And I see the mintcoin team has played it smart, holding the premine for some good actions for the coin.

[sidhujag]

"...an active team edits the crap out of their ANN Thread on a regular basis so information is not outdated for those who are researching the coin. People who currently research Mintcoin as a possible investment are going to find tons of dead links and a dead website. What’s the chance they’ll want to push their BTC into Mintcoin in that condition?"

The website is back up, what's more you could flag any dead links in the OP rather than quote an old complaint made by someone else.

Looking forward to the Android Wallet!

none of the merchant sites I checked were broken links, this is just FUD

Then that article is spitting out FUD left and right... it said most of the links were 404 errors... hmmm.

[skeem]

up

[dille71]

"...an active team edits the crap out of their ANN Thread on a regular basis so information is not outdated for those who are researching the coin. People who currently research Mintcoin as a possible investment are going to find tons of dead links and a dead website. What’s the chance they’ll want to push their BTC into Mintcoin in that condition?"

The website is back up, what's more you could flag any dead links in the OP rather than quote an old complaint made by someone else.

Looking forward to the Android Wallet!

none of the merchant sites I checked were broken links, this is just FUD

Then that article is spitting out FUD left and right... it said most of the links were 404 errors... hmmm.

I randomly clicked something like 20 links. None of the merchants was broken but some of the games and one multipool was.
Someone should go through all of them and remove the dead once.
Allso one other multipool should be added. Im on my cellphone right now and dont remember the url but its in here a couple of pages back.
Pretty good pool! Pays out really good!

[dille71]

hey guys, what about a MINTCOIN ONLINE BANK?


a simple site where you can login with an email and a password (possible anonymously using Tor). There you have your own Mintcoin account where you can send money to or withdraw money.

behind all this is a person/dev/institution/fund with a huge wallet running 24/7. they can charge you a bit for running the Bank but you will still get your annual interest.

advantages:

- simple for average users
- don't worry about your wallet not minting, wrong wallet, slow wallet or energy costs
- accessable via any PC, smartphone, tablet (also the apple products)
- anonymous

disadvantages:

- you have to trust the organisation/people running the bank
- network security (i still think a lot of people would run their own wallets)


I hope some people are interested in discussing this suggestion. I would give a LOT of my Mints as a bounty if this is really developed. I think it's even better than the android wallet.

Cheers

I think its a great idea! I have been thinking about this myself for some time now since i read that many people have their mints on exchanges because they dont want to install a wallet.
The problem i see is how to keep track of whos coins have minted and how mutch but i do have some ideas how to simplify this.
I might build something just to try it out..