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cryptomommy
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July 29, 2014, 01:39:19 AM |
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We have an official announcement coming out this weekend regarding the new development team. Anyone actively working on Mintcoin development needs please make sure to send me your short bio and Mintcoin address to be included. Also if you are not currently a member of https://trello.com/b/3z77PPdg/mintcoin-team and would like to donate some time to development / graphics / copy / research please pm me your email address so I may add you. Thanks everyone! Jessie |
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David Latapie
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July 29, 2014, 01:50:07 AM |
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We have an official announcement coming out this weekend regarding the new development team. Anyone actively working on Mintcoin development needs please make sure to send me your short bio and Mintcoin address to be included. Also if you are not currently a member of https://trello.com/b/3z77PPdg/mintcoin-team and would like to donate some time to development / graphics / copy / research please pm me your email address so I may add you. Thanks everyone! Jessie David Latapie is a French publisher, transhumanist and crypto enthusiast who worked on various cryptocurrencies, and focuses on the societal changes brought by cryptos and the blockchain technology. He lives in Paris and is the founder of the forthcoming Mintcoin Fund. MsaBUxXN1wC3fQRkxSeYFKcrE87oT4mNTD[/quote] |
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cryptomommy
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July 29, 2014, 05:59:26 PM |
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Regarding Moolah / MintPal Communications:
I would like to let everyone know I am currently in active communications regarding continuing the trading of Mintcoin within MintPal after the transition of ownership.
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acceptance2
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July 30, 2014, 03:06:00 AM |
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It will be out soon? The code hasnt been touched in over a month and I dont see any updates, not sure where you are getting your "soon" from.
Development hasn't stopped, I'm just not pushing my changes. And I'm busy with some real life stuff lately, otherwise it's 99% complete and ready to be released.Don't judge android wallet's value by it's mint bounty. I'm not doing the MINT part for its bounty, it's not a freelance job for me -- I believe this is a community work, and I hope the community will take over its development when it's released. There are no POS bitcoinj forks in existence (and I doubt that anyone can manage to release something), and this is the first bitcoinj fork for POS coins, and it works (the POS library). For last few months, I haven't touched mintcoinj part and only been fiddling with getting the android UI to work besides my real life responsibilities. I will be well compensated by other POS coins once it's done, I see other coins as freelance projects, not mint. I hope the community does not see this as a freelance too, because I'm not doing this for it's bounty, I'm not working as for a paid project to do mint's wallet, I'm doing it just because of being part of this community and that I am able to do it. Sure looking forward to that final 1% being completed. That was 3 weeks ago. Can we expect it next week? In 2 weeks? In 3 weeks? I'm confident the entire "community" or what's left of it, would like to know. Offering up excuses is getting old. |
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sidhujag
Legendary
 Offline
Activity: 2044
Merit: 1005
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July 30, 2014, 06:55:38 AM |
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Looks to be usable except pos minting... I wonder if he implemented his own spv store if he didnt not sure how checkpointing is working.. probably needs months of testing that 1 dev cant do.
No mintcoinj and no github updates in 2 months looks like hes working offline until ready. If its really 99% not sure the holdup, maybe to buy more coins lol.
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yeasee
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July 30, 2014, 07:15:14 AM |
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hope mint can to da moon again  |
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acceptance2
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July 30, 2014, 07:25:54 AM |
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Looks to be usable except pos minting... I wonder if he implemented his own spv store if he didnt not sure how checkpointing is working.. probably needs months of testing that 1 dev cant do.
No mintcoinj and no github updates in 2 months looks like hes working offline until ready. If its really 99% not sure the holdup, maybe to buy more coins lol.
As an initial introduction to the coin, the minting aspect is secondary. We're talking about small amounts of Mint from one Wallet to another for the express purpose of exposing the name (brand) to a wider audience. From those newly exposed, some will decide to become investors and will download a PC wallet before loading up on the coin. It's unlikely newbies out of the crypto arena will download the entire blockchain to receive 1000 Mint just to check it out. But a quick download from the Playstore and receiving Mint in a matter of minutes is highly likely to win new players. |
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acceptance2
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July 30, 2014, 08:16:25 AM |
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 LOL...would love to know who's running the box. |
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cryptomommy
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July 30, 2014, 11:45:28 AM
Last edit: July 30, 2014, 11:56:42 AM by cryptomommy |
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Good morning! Android Wallet News: Paspi has locked up some time for the finalization of the android wallet, testing and a soft launch of August 15th. He has spent several months building this app from scratch and is very excited to share with the team. We are currently seeking a private pool of testers for the code. Please pm me if you would like to be on this list. Private testing should take place towards the end of the next two weeks. The initial launch will not be PoS - however we have an alternative which another wallet developer is already in the progress of working on. Investor Relations: I have been speaking with several investors since the start of Mintcoin discussing the investment opportunity and there have always been 2 major concerns with the coin. 1. Pre-mine - GONE 2. PoS Rate. - Let's Talk About it. I saw a post awhile back (reddit I believe) that supported the 20% PoS rate. It noted that currently we are actually only at 12.5%? (will find article later - numbers may be off) I would like to propose that the 20% be discussed within the community and a decision is made by everyone whether or not we decrease that number. Personally I would like to see it at a range between 6%-12% Here is a link one of the investors shared with me: http://en.wikipedia.org/wiki/List_of_countries_by_inflation_rateA final note: Mintpal Manipulation: edit: shakes head. Lets get to work guys and put this person to shame... |
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acceptance2
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July 30, 2014, 12:40:54 PM |
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Good morning! Android Wallet News: Paspi has locked up some time for the finalization of the android wallet, testing and a soft launch of August 15th. He has spent several months building this app from scratch and is very excited to share with the team. We are currently seeking a private pool of testers for the code. Please pm me if you would like to be on this list. Private testing should take place towards the end of the next two weeks. The initial launch will not be PoS - however we have an alternative which another wallet developer is already in the progress of working on. Investor Relations: I have been speaking with several investors since the start of Mintcoin discussing the investment opportunity and there have always been 2 major concerns with the coin. 1. Pre-mine - GONE 2. PoS Rate. - Let's Talk About it. I saw a post awhile back (reddit I believe) that supported the 20% PoS rate. It noted that currently we are actually only at 12.5%? (will find article later - numbers may be off) I would like to propose that the 20% be discussed within the community and a decision is made by everyone whether or not we decrease that number. Personally I would like to see it at a range between 6%-12% Here is a link one of the investors shared with me: http://en.wikipedia.org/wiki/List_of_countries_by_inflation_rateA final note: Mintpal Manipulation: edit: shakes head. Lets get to work guys and put this person to shame... Excellent news on the Android Wallet. Happy to volunteer for testing on this. As to the POS rate, my personal preference would be to eliminate it all together and cap the coin at its current distribution. In my mind, this would immediately bring value (scarcity creates demand) and give the coin a fighting chance to come back from the dead. What it would mean of course, is real adoption and development would carry the coin forward, not hypothetical riches from speculation (that hasn't really worked out so well has it?). Given that I'll probably be the only one in favor of capping the coin at it's current distribution, my next choice would be on your low end of the scale at 6%. But I would strongly suggest to holders to eliminate it completely if they really want to see their investment rebound. And capping the coin at its current distribution, would I believe solve the coin manipulation problem almost immediately. |
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cryptomommy
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July 30, 2014, 12:52:17 PM |
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The PoS is something I want to market heavily (interest rate) as it secures the network and if promoted correctly can be compared to a traditional savings account (eventually).
Decreasing it should bring in new investors almost immediately though which we can support our growth with.
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TookDk
Legendary
Offline
Activity: 1960
Merit: 1062
One coin to rule them all
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July 30, 2014, 01:01:36 PM |
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Excellent news on the Android Wallet. Happy to volunteer for testing on this.
As to the POS rate, my personal preference would be to eliminate it all together and cap the coin at its current distribution. In my mind, this would immediately bring value (scarcity creates demand) and give the coin a fighting chance to come back from the dead.
What it would mean of course, is real adoption and development would carry the coin forward, not hypothetical riches from speculation (that hasn't really worked out so well has it?).
Given that I'll probably be the only one in favor of capping the coin at it's current distribution, my next choice would be on your low end of the scale at 6%. But I would strongly suggest to holders to eliminate it completely if they really want to see their investment rebound.
And capping the coin at its current distribution, would I believe solve the coin manipulation problem almost immediately.
I am open to ideas, I read you post with great joy. However I have a few questions: How would you secure the network if not using PoS? Are you suggesting to switch to PoW and set the blockreward to zero, and only maintaining the network with transaction fee's? |
Cryptography is one of the few things you can truly trust.
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acceptance2
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July 30, 2014, 01:26:11 PM |
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The PoS is something I want to market heavily (interest rate) as it secures the network and if promoted correctly can be compared to a traditional savings account (eventually).
Decreasing it should bring in new investors almost immediately though which we can support our growth with.
So I guess the question is, where's the balance that will both bring in new investors and secure the network? Any real investor wants as small a float as possible. So 6%, 5%, 4%, 3% ? I'm curious, probably a stupid question but if POS is needed to secure the network, what secures the network when the Minting is finished years later? |
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Scribbler397
Newbie
Offline
Activity: 13
Merit: 0
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July 30, 2014, 01:29:45 PM |
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The PoS is something I want to market heavily (interest rate) as it secures the network and if promoted correctly can be compared to a traditional savings account (eventually).
Decreasing it should bring in new investors almost immediately though which we can support our growth with.
So I guess the question is, where's the balance that will both bring in new investors and secure the network? Any real investor wants as small a float as possible. So 6%, 5%, 4%, 3% ? I'm curious, probably a stupid question but if POS is needed to secure the network, what secures the network when the Minting is finished years later? From what I understand, instead of minting new coins, you will be rewarded by the transaction fees. Someone feel free to correct me if I'm wrong though. |
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TookDk
Legendary
Offline
Activity: 1960
Merit: 1062
One coin to rule them all
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July 30, 2014, 01:38:19 PM |
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So I guess the question is, where's the balance that will both bring in new investors and secure the network?
Any real investor wants as small a float as possible. So 6%, 5%, 4%, 3% ?
I'm curious, probably a stupid question but if POS is needed to secure the network, what secures the network when the Minting is finished years later?
That is a good question. The answer is in the OP, the reward continue for infinite with 5% after 3rd year. Bitcoin for example has a fixed number of coins (~21mil), the block reward will eventually go to zero, at that time is it believed that the network is so widely used that miners is motivated to mine strictly to claim the tx fees. Specifications
-Pure PoS
Other Specifications:
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- PoS variable interests:
- 1st year: 20%
- 2nd year: 15%
- 3rd year: 10%
- 4th and subsequent years: 5%
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Cryptography is one of the few things you can truly trust.
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acceptance2
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July 30, 2014, 01:55:50 PM |
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So I guess the question is, where's the balance that will both bring in new investors and secure the network?
Any real investor wants as small a float as possible. So 6%, 5%, 4%, 3% ?
I'm curious, probably a stupid question but if POS is needed to secure the network, what secures the network when the Minting is finished years later?
That is a good question. The answer is in the OP, the reward continue for infinite with 5% after 3rd year. Bitcoin for example has a fixed number of coins (~21mil), the block reward will eventually go to zero, at that time is it believed that the network is so widely used that miners is motivated to mine strictly to claim the tx fees. Specifications
-Pure PoS
Other Specifications:
...
- PoS variable interests:
- 1st year: 20%
- 2nd year: 15%
- 3rd year: 10%
- 4th and subsequent years: 5%
...
But what about when the 70,000,000,000 are fully distributed? How is the network secured then? How would it be any different than if the distribution was capped now at say 20,000,000,000? What am I missing here? |
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DougB62
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July 30, 2014, 01:56:38 PM |
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I saw a post awhile back (reddit I believe) that supported the 20% PoS rate. It noted that currently we are actually only at 12.5%? (will find article later - numbers may be off)
I would like to propose that the 20% be discussed within the community and a decision is made by everyone whether or not we decrease that number. Personally I would like to see it at a range between 6%-12% Using your range, we could drop it to ~12% first year, ~10% second year, ~8% third year, and ~6% all subsequent years? Or are we only discussing a first year percentage adjustment here? |
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cryptomommy
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July 30, 2014, 02:20:11 PM |
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I saw a post awhile back (reddit I believe) that supported the 20% PoS rate. It noted that currently we are actually only at 12.5%? (will find article later - numbers may be off)
I would like to propose that the 20% be discussed within the community and a decision is made by everyone whether or not we decrease that number. Personally I would like to see it at a range between 6%-12% Using your range, we could drop it to ~12% first year, ~10% second year, ~8% third year, and ~6% all subsequent years? Or are we only discussing a first year percentage adjustment here? This is what I was thinking as well. This way we are still ahead of competitors but significantly decreasing the production. Someone else mentioned going dynamic with the PoS using VRC/GUE as a place to get started. On the transaction fee note: Do we know where that fee is currently going to? |
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acceptance2
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July 30, 2014, 02:30:57 PM |
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That BIG NUMBER 70,000,000,000 BILLION is what has been scaring real investors away from this coin since the very beginning.
Am I to understand that we're only shuffling interest rates (POS) around but that the eventual total distribution would still be this legitimately scary number?
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rbizz
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July 30, 2014, 02:39:41 PM |
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That BIG NUMBER 70,000,000,000 BILLION is what has been scaring real investors away from this coin since the very beginning.
Am I to understand that we're only shuffling interest rates (POS) around but that the eventual total distribution would still be this legitimately scary number?
I tend to agree that the overall number of coins should be chopped down to 1/2 or 1/3 of this number. |
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