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Author Topic: [ANN][MINT] Mintcoin (POS) (5%) - New Wallet v2.0.2 released 3/1/16  (Read 1245215 times)
coolbeans94
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August 04, 2014, 02:11:13 AM
 #16241

One of the main reasons why I am not in favor of eliminating the coin cap by having 1.5% 3% or 5% to replace lost of stolen coins is because I don't believe it is even really necessary. Here is why:

For one thing, we are a very long time away from reaching the coin cap and I'm sure a plethora of new crypto-innovative technologies will have advanced by that time to address any and all concerns about the deflationary "problem". In fact there already are enough happenings that it is not an issue.

Let's assume that we keep everything the same. 70B max coins, with only fees payed to minters.

As coins become lost/stolen the value of Mintcoin becomes more rare and rare and more valuable, but this is not a serious problem.

Let's say Mintcoin value goes up to $1,000 per mintcoin. If transaction fees and micro-payments became a problem, at this point, third parties could establish "off-blockchain" services. What I means is, that Mintcoin should be used as the financial services "core". A deflationary financial asset from which other financial services in the future will run on. Mintcoin will be the standard of value, and most transactions in the future will not actually run on the Mintcoin blockchain itself.

What will happen in the long-run is we will eventually go off blockchain.

For example: coinbase, inputs.io, blockchain.info etc. for small amounts/daily purchases. Technologies like these that will enable people to transact in fractions of a satoshi, allowing people to to transact still in BTC valuations, but these are transactions that will not go over the actual blockchain.

In the long-run we will still be using the Mintcoin blockchain, but only for larger, rarer, important transfers. Hence all these scaling problems just don't exist. MINT is just even better than BTC in this regard....because the larger, rare, important transfers are secured by PoS, rather than only PoW like Bitcoin. Going off blockchain with Bitcoin will not solve their energy usage problem and 51% attack issues from a security standpoint in the long run. If you only use BTC for large, rare, important transfers, how will you be able to pay the miners enough money in fees to keep them mining? In Bitcoin there will be less people mining, to support those larger, rare, important transfers, which will cause an increased security risk as time goes on. This is why Mintcoin's proof-of-stake aspect is so important for long-term sustainability. The parameters of the coin such as the coin cap, is at a good place, and should never be changed; it is irrelevant, long-term. The scalability is not an issue, long-term!

If Mintcoin becomes "too expensive" for small payments, then the only thing we need to do is lower the transaction fee from time to time, and just continue to extend out decimal places like BTC is doing already.

Eventually, if Mintcoin becomes that successful, we will ultimately have to move into off-blockchain systems at some point anyway as I believe Mintcoin is limited to about 1.5 million transactions per day. (This is an improvement over Bitcoin which is limited to about 75,000 transactions per day.) Good news is there will probably always be many active crypto currencies with floating exchange rates so the transaction limit problems are highly mitigated.

But I am trying to think long-term, not short-term. What we need to envision is an entirely different financial system landscape. Mintcoin will be a store of value, and as coins are lost/stolen the each coin will become more rare and valuable. What we will do is build other financial systems and services around the Mintcoin core, that will be able to facilitate the transactions of many micro-payments, and day-to-day transactions at an even faster rate. Just take time to think bigger.

And finally I want to say, I am not totally against eliminating the 70B cap. I just definitely believe it is waaaaay too early in crypto-history to know what a good rate will be once the cap is reached. The problem with using a percentage rate, is we don't know how many coins we really need to be replaced every year. It could be that a fixed amount would be better, a set amount rather than a % rate. For example, it may be 250,000,000 new coins per year fixed every year would be a better option. If you go with a % rate, then you run the risk of the compounding interest being too much, resulting in overly excessive increases in the money supply, and then what you will get is inflation, and potentially "runaway" inflation. But, I still think that a the hard limit coin cap is ultimately the best for valuations. All we need to do is just keep pushing out the decimal places and lowering the transaction fee from time to time.

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August 04, 2014, 05:32:42 AM
 #16242

Question:

I bought about 28.5-million Mintcoins the other day and sent them to my wallet.... I am wondering why my address not showing up on either of the block explorers under the rich lists?

My address has exactly 28,457,314.05362 coins.
According to http://mint.blockexplorer.cc/richlist/ I should be ranked at about #108.
According to http://mint.blockx.info/richlist/ I should be ranked at about #114.
Why are the two Rish Lists showing different information???

When I look it up on the block explorer, everything is fine in the details. I just don't get why this information isn't getting updated on the rich lists.

Here is a link to the address showing my balance is valid and confirmed.
http://mint.blockexplorer.cc/address/Mn4DD5eSVvf8VQzWfx6RYNTWXjHgUQf2Lw

So why wouldn't it be showing up on the Rich Lists???

I'm sure I can't be the only one this is happening to,
It's a little confusing,
Thanks.
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August 04, 2014, 12:49:23 PM
 #16243



I will discuss that with the block explorer owner and get back to you.

Thanks for bringing it to my attention.
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August 04, 2014, 03:32:37 PM
 #16244

look in your transactions and see if you used more than one address
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August 04, 2014, 06:18:31 PM
 #16245

look in your transactions and see if you used more than one address
It is all on that one address.
If you look at the bottom of the Transaction ID: http://mint.blockexplorer.cc/tx/97f746e941a593ac053963215cc2a88c037829a8d6d62662cfe501c4e0bfcf52#o0

http://i.imgur.com/UIaCAn2.png
It shows it has not been redeemed...which means it is still all on that 1 address. (coins have not moved/minted yet)

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August 05, 2014, 01:33:19 AM
 #16246

look in your transactions and see if you used more than one address
It is all on that one address.
If you look at the bottom of the Transaction ID: http://mint.blockexplorer.cc/tx/97f746e941a593ac053963215cc2a88c037829a8d6d62662cfe501c4e0bfcf52#o0


It shows it has not been redeemed...which means it is still all on that 1 address. (coins have not moved/minted yet)



can you post a screen shot of the transaction list in your client?
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August 05, 2014, 04:52:57 AM
 #16247

i wonder if mintcoin will be removed from mintpal.com, it's trade value is too little

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August 05, 2014, 05:15:41 AM
 #16248

can you post a screen shot of the transaction list in your client?
http://i.imgur.com/off6HBO.png
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August 05, 2014, 07:33:44 AM
 #16249

i wonder if mintcoin will be removed from mintpal.com, it's trade value is too little

Cheesy

that be a bit hard to explain, "Mintpal delisted Mint"

PRoTIGERopenUNOSMCunic.zeit.TALK.GLCBCCBCT.emdASIC.SMART Observer op420UNO/XMR2.0sleepersdLEx◣table◣charity:UNOtek:UN<>EX<<>>
::::::  diction ::  :: top20cons ::  :: UNO tech :: UN<>EX :::CCtalk::::TOP50 :: BCC dir :: the media :: <<>>
✪ Pledges on the Record ✪ ✪ The Social Code of Noble Men of New & Old ✪ May2020BTC#18M◣◥◣◥◣◣◥◣◥ TALK CRjt8BZu5a7YYNc4yCXD9SqztQcSjwn5eZ ◣
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August 05, 2014, 08:04:49 AM
 #16250

i wonder if mintcoin will be removed from mintpal.com, it's trade value is too little

It has been ridiculously low for 3-4 month now.
Only trade was the dumped premine.

Cryptography is one of the few things you can truly trust.
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August 05, 2014, 09:14:27 AM
 #16251

Mintpal Trading on 8-05-2014
Sent some zeitcoin to trade for Mintcoin on Mintpal 8 hours ago
and Mintpal still lists deposits as pending
Send some to Cryptsy and was there in 15 minutes.
Left the support tickets at mintpal , no response over 8 hours old
They seem to be having some issues.
 Cool
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August 05, 2014, 09:44:57 AM
 #16252


i wonder if mintcoin will be removed from mintpal.com, it's trade value is too little
It has been ridiculously low for 3-4 month now.
Only trade was the dumped premine.
Mintpal Trading on 8-05-2014
Sent some zeitcoin to trade for Mintcoin on Mintpal 8 hours ago
and Mintpal still lists deposits as pending
Send some to Cryptsy and was there in 15 minutes.
Left the support tickets at mintpal , no response over 8 hours old
They seem to be having some issues.
 Cool
On their news feed it says: "We're removing the BTCS, METH, TOP and XLB markets on Thursday 7th August. All orders for those coins will be cancelled and balances returned. The wallets will stay open for withdrawals for at least two weeks."

Looks like they are thinning some coins out, but Mint is staying. When they got rid of the MINT/LTC market a while back they even said MINT/BTC will be staying.

Also, Weren't they going to be bought out by Moolah or something too? Maybe there is some core conversions going on, causing delays? Not sure. Cryptsy has been my other alternate go-to choice of exchange. Poloniex is okay too, but I don't think their support is as good.


Stop Mining.   Start Minting.   Mintcoin  [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
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August 05, 2014, 09:53:07 AM
 #16253

Mintpal is down atm.

EDIT: All is well now.
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August 05, 2014, 03:45:29 PM
 #16254

Mintcoin Newsletter Week in Review: August 5th, 2014

Good Morning Everyone!
We have updated our newsletter to cover last week's progress. We would love your support in passing it around to your friends!
http://mintcoin.cc/mintcoin-newsletter-week-review-august-5th-2014/
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August 05, 2014, 04:00:07 PM
 #16255

Mintcoin Newsletter Week in Review: August 5th, 2014

Good Morning Everyone!
We have updated our newsletter to cover last week's progress. We would love your support in passing it around to your friends!
http://mintcoin.cc/mintcoin-newsletter-week-review-august-5th-2014/

This is the type of thing that investors want to see!  It looks like a lot of good things are coming up in the next few weeks too.  I love what you're doing here.  Awesome job!
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August 05, 2014, 04:06:38 PM
 #16256

i wonder if mintcoin will be removed from mintpal.com, it's trade value is too little

It has been ridiculously low for 3-4 month now.
Only trade was the dumped premine.

That's because this is a great coin worth holding. 20% interest. This coin is undervalued, but eventually will rise above most others.

BITCOIN: 13UY67yfRjRVMR6hauZJbauHiDfeM2qXSg
MINTCOIN: MdVzxTfLDrzdij9vpee1YJGotBahfsfmqs
ASIACOIN: AH7dunb5G99XzCNj1KnGCdPkqc27pRPfBu
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August 05, 2014, 08:14:21 PM
 #16257

New to POS and I see in the OP that it takes 50 confirms for the coins to mature enough for minting.  I made two deposits into my wallet, both now have over 2000 confirmations but the wallet says they are not mature. 

No idea what to do.

Also, is there any way to get around this stupid post limitation Bitcointalk has set in place?  My work uses a single gateway IP and multiple people here use this forum.  Because of that I am never able to make a post and it's really frustrating....

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August 05, 2014, 08:20:57 PM
 #16258

New to POS and I see in the OP that it takes 50 confirms for the coins to mature enough for minting.  I made two deposits into my wallet, both now have over 2000 confirmations but the wallet says they are not mature. 

No idea what to do.

Also, is there any way to get around this stupid post limitation Bitcointalk has set in place?  My work uses a single gateway IP and multiple people here use this forum.  Because of that I am never able to make a post and it's really frustrating....

Just wait, let the coins stay in wallet in ~20 days, then will you start mining for sure.

Cryptography is one of the few things you can truly trust.
TookDk
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August 05, 2014, 08:43:21 PM
 #16259

Also, is there any way to get around this stupid post limitation Bitcointalk has set in place?  My work uses a single gateway IP and multiple people here use this forum.  Because of that I am never able to make a post and it's really frustrating....

Mayby using a proxy is the way to go, as long as you are in the newbee jail.

Cryptography is one of the few things you can truly trust.
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August 06, 2014, 01:12:41 AM
 #16260

New to POS and I see in the OP that it takes 50 confirms for the coins to mature enough for minting.  I made two deposits into my wallet, both now have over 2000 confirmations but the wallet says they are not mature. 

No idea what to do.

Also, is there any way to get around this stupid post limitation Bitcointalk has set in place?  My work uses a single gateway IP and multiple people here use this forum.  Because of that I am never able to make a post and it's really frustrating....

The 50 confirmations is for newly "Minted" coins. Once you have coins with at least 20 days of coin age, they will begin to mint new coins, it's these new coins that require the 50 confirmations before they are spendable.

Once you are out of "Newbie Jail" the number of posts you can make is removed.
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