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

[kiklo]

The coin is on life support. Surely you're not suggesting the path we're on has served us well?

All I am arguing is that the coin's architecture is not the problem. I think the coin is fine,  not on life support. Overall, all cryptos are generally in a slump at the moment. Give it time, concentrate on actually developing the features utility and usibility of the coin...android wallet...merchants, etc. Bitcoin didn't reach $600 the first year. Have realistic expectations.

In Total Agreement, Leave the Coin Interest Rates Alone

[acceptance2]

MintCoin FINAL POS was supposed to be 5%.

That is why I purchased a few million.

If the community lowers the POS to 1.5%.

Then it would make more sense to CASH OUT of MintCoin completely and invest in a Utility Stock paying ~ 5%.

The Final Rate has to be at least 5% otherwise there is no reason to Hold it when there are other coins with even higher rates of interest and they are pennies apiece.

Just so you know what a lot of US are thinking.

A lot of you? With 5 posts? Try again.

The number of posts a person has is irrelevant to the discussion at hand. Mintcoin has picked up a fair amount of new users in the last few months, and new users are just starting to get into the discussion. Berating new users because of their post count really puts a VERY VERY bad light on Mintcoin, and this should stop immediately.

This is now a "Community Coin" and each and every one in this community has every right to express their opinion regarding the changes being proposed to Mintcoin. We should be discussing this rationally and without malice towards anyone.

People using multiple accounts.....nuff said.

[coolbeans94]

Understand how markets work:

Prices go up based on demand and supply. It requires more demand for prices to go higher. When prices do go higher, it now requires more money to purchase the same amount of units. Eventually there is not enough money left (demand) to push the prices higher.

Prices go down in similar manner, but inverse relationship. It requires more supply for prices to go lower. When prices do go lower, it now requires more units to sell for the same amount of money. Eventually there is not enough units (supply) to push the prices lower.

As an individual investor, timely information is not on your side. Just buy what you think has potential to grow  earning in the long run at a reasonable price, and sit tight through the ups and the downs of the market. You will be rewarded in the long run. If you are going super long term, then you can choose to ignore corrections; it doesn't mean you can't buy the same coins cheaper in the not too distant future.

Corrections are necessary regardless of valuations. Corrections churn ownership of assets from weak hands into strong hands.

[acceptance2]

   
Re: [ANN][MINT] PoS Rewards and Market Cap Survey & Discussion
Today at 04:08:23 AM
   
Reply with quote  #16472
Quote from: kiklo on Today at 01:38:06 AM
MintCoin FINAL POS was supposed to be 5%.

That is why I purchased a few million.

If the community lowers the POS to 1.5%.

Then it would make more sense to CASH OUT of MintCoin completely and invest in a Utility Stock paying ~ 5%.

The Final Rate has to be at least 5% otherwise there is no reason to Hold it when there are other coins with even higher rates of interest and they are pennies apiece.

Just so you know what a lot of US are thinking.

A lot of you? With 5 posts? Try again.


5 Post or 5000 Posts does not matter.
Drop the POS below 5% and destroy the Coin

 

But the coin is on its legs now - with 20% interest. If people are so sure the high interest rate is what's attracting people to the coin - where are the people, where is the volume? There aren't any people and there isn't any volume. Obviously a high interest rate is not the key to having a successful coin.

That argument just doesn't wash - the facts simply indicate otherwise.

[kiklo]

MintCoin FINAL POS was supposed to be 5%.

That is why I purchased a few million.

If the community lowers the POS to 1.5%.

Then it would make more sense to CASH OUT of MintCoin completely and invest in a Utility Stock paying ~ 5%.

The Final Rate has to be at least 5% otherwise there is no reason to Hold it when there are other coins with even higher rates of interest and they are pennies apiece.

Just so you know what a lot of US are thinking.

A lot of you? With 5 posts? Try again.

The number of posts a person has is irrelevant to the discussion at hand. Mintcoin has picked up a fair amount of new users in the last few months, and new users are just starting to get into the discussion. Berating new users because of their post count really puts a VERY VERY bad light on Mintcoin, and this should stop immediately.

This is now a "Community Coin" and each and every one in this community has every right to express their opinion regarding the changes being proposed to Mintcoin. We should be discussing this rationally and without malice towards anyone.

People using multiple accounts.....nuff said.

The Fact is that all you seem to do it whine about # of Posts or try to have a Conspiracy of 1 user with Multiple Accounts

Fact people chose investments with a higher interest rate
I am willing to wait for MintCoin to have a Great Return on Investment
However dropping below 5% Makes sure that will never Happen

However Why don't you prove me and whoever else you think I am wrong , start a coin with a Negative Interest Rate and see how far you get.

And Good Luck Sorting Out all of the Voices in your Head.
 

[acceptance2]

MintCoin FINAL POS was supposed to be 5%.

That is why I purchased a few million.

If the community lowers the POS to 1.5%.

Then it would make more sense to CASH OUT of MintCoin completely and invest in a Utility Stock paying ~ 5%.

The Final Rate has to be at least 5% otherwise there is no reason to Hold it when there are other coins with even higher rates of interest and they are pennies apiece.

Just so you know what a lot of US are thinking.

A lot of you? With 5 posts? Try again.

The number of posts a person has is irrelevant to the discussion at hand. Mintcoin has picked up a fair amount of new users in the last few months, and new users are just starting to get into the discussion. Berating new users because of their post count really puts a VERY VERY bad light on Mintcoin, and this should stop immediately.

This is now a "Community Coin" and each and every one in this community has every right to express their opinion regarding the changes being proposed to Mintcoin. We should be discussing this rationally and without malice towards anyone.

People using multiple accounts.....nuff said.

The Fact is that all you seem to do it whine about # of Posts or try to have a Conspiracy of 1 user with Multiple Accounts

Fact people chose investments with a higher interest rate
I am willing to wait for MintCoin to have a Great Return on Investment
However dropping below 5% Makes sure that will never Happen

However Why don't you prove me and whoever else you think I am wrong , start a coin with a Negative Interest Rate and see how far you get.

And Good Luck Sorting Out all of the Voices in your Head.
 

You've earned...IGNORE

[Beaverslayer]

Here's something I'll hazard a guess nobody has even though... Today you buy 10 million Mintcoins with REAL FIAT currency, that you earned by getting up every morning and toiled for 8 hours a day for. After one year, you have earned the 20% interest, and now hold 12 million Mintcoins.

Even if you bought the original 10 million at 1 satoshi, and in one year sold all 12 million for 1 satoshi, you would still be up 20 PERCENT. Show me one, just one, guaranteed investment stragtegy that will pay you that kind of interest...just one. Sure, it may take a while to sell all 12 million but they will eventually sell.

This is why the interest should not in any way, shape or form be changed.

[acceptance2]

Understand how markets work:

Prices go up based on demand and supply. It requires more demand for prices to go higher. When prices do go higher, it now requires more money to purchase the same amount of units. Eventually there is not enough money left (demand) to push the prices higher.

Prices go down in similar manner, but inverse relationship. It requires more supply for prices to go lower. When prices do go lower, it now requires more units to sell for the same amount of money. Eventually there is not enough units (supply) to push the prices lower.

As an individual investor, timely information is not on your side. Just buy what you think has potential to grow  earning in the long run at a reasonable price, and sit tight through the ups and the downs of the market. You will be rewarded in the long run. If you are going super long term, then you can choose to ignore corrections; it doesn't mean you can't buy the same coins cheaper in the not too distant future.

Corrections are necessary regardless of valuations. Corrections churn ownership of assets from weak hands into strong hands.

Been involved in the junior and penny stock markets for almost 40 years. I've been involved in numerous public companies. I have a very good grasp of how the markets work regarding companies like these - and a better understanding of investors (real investors) mind set.

Right now I'm very familiar with a resource company with a rather large, bloated share float. They're trying to bring new investors on board for much needed capital to get the stalled project going. The new investors have agreed - on one condition - the company float is rolled back. I've experienced this a hundred times. Money flows to value - no perceived value - no new money.

How does this relate to our situation? Well, we're not asking anybody to reduce their holdings (rollback)- we're simply requesting we reduce the overall EVENTUAL number of coins to make the coin more attractive to new investors - who are reluctant to invest under our current structure.

Either we address their concerns adequately, or we lose their capital.



 

[acceptance2]

Here's something I'll hazard a guess nobody has even though... Today you buy 10 million Mintcoins with REAL FIAT currency, that you earned by getting up every morning and toiled for 8 hours a day for. After one year, you have earned the 20% interest, and now hold 12 million Mintcoins.

Even if you bought the original 10 million at 1 satoshi, and in one year sold all 12 million for 1 satoshi, you would still be up 20 PERCENT. Show me one, just one, guaranteed investment stragtegy that will pay you that kind of interest...just one. Sure, it may take a while to sell all 12 million but they will eventually sell.

This is why the interest should not in any way, shape or form be changed.

I can assure you, if the coin was at 1 satoshi for any period longer than 2 - 3 months, it's unlikely there would be an exchange to sell your coins on.

Cryptomommy is pulling out all stops to "rescue" us. If she says there are potential investors out there but there is concern over the large eventual coin cap, I'd listen and seriously consider what she's saying.

If the coin cap isn't an issue, why would new investors be raising it as an impediment to investing? It obviously is an issue for them.

[kiklo]

Here are some ideas for MintCoin

1. Create a Market Place on the MintCoin Web Site where people can Buy Virtual Items.
Setup an escrow account to make sure transactions are complete.

Virtual Items would be things like Pics (jpgs) & Audio (Mp3) ,
Virtual Goods used in Online Video Games like Second Life
Pics could be scenery , audio could be sound effects or even music just not copyrighted
FYI: Keep it Clean & No Copyright violations

Setup a Book Site in the Market Place for aspiring writers to post a Chapter of a Story ,
Password each Chapter after the 1st one and Charge some MintCoins for the Password to each Chapter and paid the writer a percentage.


2. Lets pick 3  Exchanges that everyone likes and we all agreed that we only buy new coins from those exchanges , that way to bump up their Volume, we don't have to be on every exchange.

3. Setup a seed catalog for small time seed sellers, and process their purchase or sale using Mintcoins.
 

Questions we need to ask ourselves, What would we spend money on and how do we make Mintcoin a Part of it.

If we want MintCoin to be an economy, then we have to create it.
 


 

[kiklo]

MintCoin FINAL POS was supposed to be 5%.

That is why I purchased a few million.

If the community lowers the POS to 1.5%.

Then it would make more sense to CASH OUT of MintCoin completely and invest in a Utility Stock paying ~ 5%.

The Final Rate has to be at least 5% otherwise there is no reason to Hold it when there are other coins with even higher rates of interest and they are pennies apiece.

Just so you know what a lot of US are thinking.

A lot of you? With 5 posts? Try again.

The number of posts a person has is irrelevant to the discussion at hand. Mintcoin has picked up a fair amount of new users in the last few months, and new users are just starting to get into the discussion. Berating new users because of their post count really puts a VERY VERY bad light on Mintcoin, and this should stop immediately.

This is now a "Community Coin" and each and every one in this community has every right to express their opinion regarding the changes being proposed to Mintcoin. We should be discussing this rationally and without malice towards anyone.

People using multiple accounts.....nuff said.

The Fact is that all you seem to do it whine about # of Posts or try to have a Conspiracy of 1 user with Multiple Accounts

Fact people chose investments with a higher interest rate
I am willing to wait for MintCoin to have a Great Return on Investment
However dropping below 5% Makes sure that will never Happen

However Why don't you prove me and whoever else you think I am wrong , start a coin with a Negative Interest Rate and see how far you get.

And Good Luck Sorting Out all of the Voices in your Head.
 

You've earned...IGNORE

That right IGNORE me and whoever else you think I am.

But I will pay attention to You, I was always taught to keep an eye on Crazy People.
 

[acceptance2]

Here are some ideas for MintCoin

1. Create a Market Place on the MintCoin Web Site where people can Buy Virtual Items.
Setup an escrow account to make sure transactions are complete.

Virtual Items would be things like Pics (jpgs) & Audio (Mp3) ,
Virtual Goods used in Online Video Games like Second Life
Pics could be scenery , audio could be sound effects or even music just not copyrighted
FYI: Keep it Clean & No Copyright violations

Setup a Book Site in the Market Place for aspiring writers to post a Chapter of a Story ,
Password each Chapter after the 1st one and Charge some MintCoins for the Password to each Chapter and paid the writer a percentage.


2. Lets pick 3  Exchanges that everyone likes and we all agreed that we only buy new coins from those exchanges , that way to bump up their Volume, we don't have to be on every exchange.

3. Setup a seed catalog for small time seed sellers, and process their purchase or sale using Mintcoins.
 

Questions we need to ask ourselves, What would we spend money on and how do we make Mintcoin a Part of it.

If we want MintCoin to be an economy, then we have to create it.
 

Excellent ideas.

I particularly like idea # 1 and # 2.

If anyone is serious about #1 I would probably donate a very appropriate domain - no strings attached.

[kiklo]

Here are some ideas for MintCoin

1. Create a Market Place on the MintCoin Web Site where people can Buy Virtual Items.
Setup an escrow account to make sure transactions are complete.

Virtual Items would be things like Pics (jpgs) & Audio (Mp3) ,
Virtual Goods used in Online Video Games like Second Life
Pics could be scenery , audio could be sound effects or even music just not copyrighted
FYI: Keep it Clean & No Copyright violations

Setup a Book Site in the Market Place for aspiring writers to post a Chapter of a Story ,
Password each Chapter after the 1st one and Charge some MintCoins for the Password to each Chapter and paid the writer a percentage.


2. Lets pick 3  Exchanges that everyone likes and we all agreed that we only buy new coins from those exchanges , that way to bump up their Volume, we don't have to be on every exchange.

3. Setup a seed catalog for small time seed sellers, and process their purchase or sale using Mintcoins.
 

Questions we need to ask ourselves, What would we spend money on and how do we make Mintcoin a Part of it.

If we want MintCoin to be an economy, then we have to create it.
 


 

And Contact Some of the Online Game Developers , that are real time and have internet access.
Ask them if they would like to have a Coin that can be used in their game that actually gains interest and they could even make it part of their game ways to earn more mintcoin and link to our virtual goods store or they could create their own. The community could donate Say a Million coins to 1 or 2 Online Game Developers.
But 1 requirement would be that in the game the Mintcoin Wallet is Functional and earns interest.

Please add any other suggestions.
 

[Beaverslayer]

Here's something I'll hazard a guess nobody has even though... Today you buy 10 million Mintcoins with REAL FIAT currency, that you earned by getting up every morning and toiled for 8 hours a day for. After one year, you have earned the 20% interest, and now hold 12 million Mintcoins.

Even if you bought the original 10 million at 1 satoshi, and in one year sold all 12 million for 1 satoshi, you would still be up 20 PERCENT. Show me one, just one, guaranteed investment stragtegy that will pay you that kind of interest...just one. Sure, it may take a while to sell all 12 million but they will eventually sell.

This is why the interest should not in any way, shape or form be changed.

I can assure you, if the coin was at 1 satoshi for any period longer than 2 - 3 months, it's unlikely there would be an exchange to sell your coins on.

Cryptomommy is pulling out all stops to "rescue" us. If she says there are potential investors out there but there is concern over the large eventual coin cap, I'd listen and seriously consider what she's saying.

If the coin cap isn't an issue, why would new investors be raising it as an impediment to investing? It obviously is an issue for them.

I have a real hard time understanding why the coincap is such a big deal. At the present rate, it will be more than 40 years until Mintcoin reaches that cap. 40 years is a very long time from now, so many things will change, just look whats happened in the last six months of altcoins, and people are worried about something that's not going to take place for 40 years?

True, Cryptomommy is doing a whole lot for Mintcoin, but I'm afraid the investors she has mentioned really don't understand something about the coincap and the time involved before it is reached. Also, there really is no cap, never has been, and never can be with a pure PoS coin. Nobody is ever going to mine or mint for transaction fees, hell, even now I hate opening my wallet to wait for it to mint, as it takes so long to load and uses so damned much of my CPU.

We all know that "Altcoins" have changed a whole lot in the last 4 months, pretty much all coins are now PoW/PoS coins, but they also have so many cool features incuded in the wallets, and the wallets are so fast loading and clean.

Saturncoin was recently taken over by the community and the total coincap was drastically reduced. If you held Saturncoin at the time of the changeover, you were given 1 Sat2 for every 1000 Saturncoins you held. Sure, today Sat2 is trading at 836 satoshi each, but if you bought 1000 Saturncoin at 1 satoshi before the changeover, you'd be down 164 satoshi right now. History teaches us things, the lesson we learn here, is you don't change the parameters of a current coin just for the sake of trying to increase it's value...we all know that's no different than putting lipstick on a pig.

[kiklo]

Here are some ideas for MintCoin

1. Create a Market Place on the MintCoin Web Site where people can Buy Virtual Items.
Setup an escrow account to make sure transactions are complete.

Virtual Items would be things like Pics (jpgs) & Audio (Mp3) ,
Virtual Goods used in Online Video Games like Second Life
Pics could be scenery , audio could be sound effects or even music just not copyrighted
FYI: Keep it Clean & No Copyright violations

Setup a Book Site in the Market Place for aspiring writers to post a Chapter of a Story ,
Password each Chapter after the 1st one and Charge some MintCoins for the Password to each Chapter and paid the writer a percentage.


2. Lets pick 3  Exchanges that everyone likes and we all agreed that we only buy new coins from those exchanges , that way to bump up their Volume, we don't have to be on every exchange.

3. Setup a seed catalog for small time seed sellers, and process their purchase or sale using Mintcoins.
 

Questions we need to ask ourselves, What would we spend money on and how do we make Mintcoin a Part of it.

If we want MintCoin to be an economy, then we have to create it.
 


 

And Contact Some of the Online Game Developers , that are real time and have internet access.
Ask them if they would like to have a Coin that can be used in their game that actually gains interest and they could even make it part of their game ways to earn more mintcoin and link to our virtual goods store or they could create their own. The community could donate Say a Million coins to 1 or 2 Online Game Developers.
But 1 requirement would be that in the game the Mintcoin Wallet is Functional and earns interest.

Please add any other suggestions.
 

Just a Thought :
Online Game Developers could use Mint in .00000001 increments and call it MiniMints
 

Audio could include a Jokes section for aspiring comedians ,
1st 5 jokes or minutes free , then charge mintcoin for each additional 5 jokes or minutes, paying percentage to Comedians

Also the Market Place should have links to any online games that accept Mintcoin to play a game on a website.

[MedaR]

if you reduce number of total coins price will go up.or reduce stake.and demand will be higher..

Also new features and promotions and support of community

lm holding 1 mil , l like this coin..

[TookDk]

if you reduce number of total coins price will go up.or reduce stake.and demand will be higher..

Yes, in theory. But cryptocurrency does not always work like that.

E.g. dogecoin had a huge block reward in the fist 100000 blocks (up to 1 Million coins per block).
The block half was scheduled to be at 14th February 2014, the price for DOGE was pretty high 100-200 santoshi in the period up to the block half.
Since the coin was so young, the half block reward would be a serious limit to the coin supply, and everybody predicted that the price would go up, due to theory of supply/demand.
If the demand is the same, and the supply goes down, then must the price increase.... well.... the opposite happen, the price went down, down, down. And then did the psychology kick in, people start selling because the jump to 300-400 satoshi never happen, and the price have only gone down ever since.

Anyway, the point is that you can not be sure that reducing the total number will increase the price, there are so much psychology in cryptocurreny that normal market theory does not always apply.

[kiklo]

if you reduce number of total coins price will go up.or reduce stake.and demand will be higher..

Also new features and promotions and support of community

lm holding 1 mil , l like this coin..

You are Correct: There would be a short term spike in prices.

Example: Mintcoin is reversed split by 4 and the POS rate is now 1% , so your 1 million coins are now only 250,000 and each coin is worth 4 times as much, so a few investors buy in pumping up the price , but there capital is absorbed within 2 or 3 weeks and then the price is back where it was and starting to drop, and the interest is so low that anything else is seen as a better investment, so they sell out trying not to lose their entire investment and dropping the price even lower. 1 Month out your coins are lowered than they were originally and with such low interest , you know you won't be able to get your money back, so you trade what is left of your mintcoins for another coin with a higher POS.
And MintCoin Dies.  

We have to build an economy for Mintcoin , where it has value thru virtual goods at first and then as the price rises Physical Goods. Then We Can all Be Happy.
 

[MarSas]

I think the much anticipated android wallet and NGO fund would create far more attention than a hard fork.

[cryptomommy]

Please see comments below - also kikklo - please pm me if you would like to donate efforts to the team. We could use you!

Here are some ideas for MintCoin

1. Create a Market Place on the MintCoin Web Site where people can Buy Virtual Items.
Setup an escrow account to make sure transactions are complete.

Virtual Items would be things like Pics (jpgs) & Audio (Mp3) ,
Virtual Goods used in Online Video Games like Second Life
Pics could be scenery , audio could be sound effects or even music just not copyrighted
FYI: Keep it Clean & No Copyright violations

Setup a Book Site in the Market Place for aspiring writers to post a Chapter of a Story ,
Password each Chapter after the 1st one and Charge some MintCoins for the Password to each Chapter and paid the writer a percentage.

- We currently are working on something in this area as a phase 1


2. Lets pick 3  Exchanges that everyone likes and we all agreed that we only buy new coins from those exchanges , that way to bump up their Volume, we don't have to be on every exchange.

Excellent Idea - Which 3? I can make a quick edit on the website to feature them. My votes are Mintpal, Cryptsy and Poloniex
Should I create a survey for this?

3. Setup a seed catalog for small time seed sellers, and process their purchase or sale using Mintcoins.
 We can take this into consideration for phase 3 of our new project

Questions we need to ask ourselves, What would we spend money on and how do we make Mintcoin a Part of it.

If we want MintCoin to be an economy, then we have to create it.