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Author Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]  (Read 1310656 times)
RoboGuy
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December 19, 2014, 08:46:19 PM
 #16961

Hi Robo,

But old chain can be used, am I right?
I did some test for ZEIT - no problems so far. Looks like a seamless switching.

Cheers,
Ray


There was no fork.  The chain just stopped until the 1.14 wallet was released, then it continued.  Old wallets will not be able to mint new coins, but should function fine otherwise.

Ideally everyone would upgrade to the latest wallet. I know some exchanges have been waiting because a couple wallets back the new wallet required the blockchain to re-download.
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Rent_a_Ray
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December 19, 2014, 09:05:47 PM
 #16962

I would say it's a fork, sorry. Smiley

BestChain needs to be on the new wallet...

Greets,
Ray

Edit: The "+1 Idea" was perfekt to solve the problem.

Derek492
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December 19, 2014, 09:23:46 PM
 #16963

Basically, if you want to mint new coins, and help secure the network, you need to upgrade your wallet. Old wallets will not mint anymore.

Stop Mining.   Start Minting.   Mintcoin  [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
fonzerrellie
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December 19, 2014, 10:13:57 PM
 #16964

if the new wallets are only needed for minting, is it safe to send coins to my new wallet from the exchanges?

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Derek492
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December 19, 2014, 10:25:19 PM
 #16965

I think technically its not a fork. Since there is still only 1 chain... Right?

Stop Mining.   Start Minting.   Mintcoin  [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
MarSas
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December 19, 2014, 10:26:54 PM
 #16966

Close your client/wallet down.
Go to the mintcoin folder where the blockchain and wallet files are.
This is usually located in C drive>users>username>appdata>roaming>Mintcoin
Copy that entire mintcoin folder and save it in a safe location (this is your backup). Now go back to the mintcoin folder and delete it. Once you have deleted it, run the new 1.14 client. It will create a new mintcoin folder and install the blockchain from scratch. It will also create a new wallet.dat file with zero coins. Don't worry about that. Just wait for the wallet to sync. All you have to do is turn your client off again and replace the wallet.dat file in the new mintcoin folder with the wallet.dat file from your backup. Then restart the client/wallet again and once it is done syncing you will have your coins.

I just updated the client and it synced. Did not redownload the blockchain and it works.
Derek492
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December 19, 2014, 11:14:29 PM
 #16967

Close your client/wallet down.
Go to the mintcoin folder where the blockchain and wallet files are.
This is usually located in C drive>users>username>appdata>roaming>Mintcoin
Copy that entire mintcoin folder and save it in a safe location (this is your backup). Now go back to the mintcoin folder and delete it. Once you have deleted it, run the new 1.14 client. It will create a new mintcoin folder and install the blockchain from scratch. It will also create a new wallet.dat file with zero coins. Don't worry about that. Just wait for the wallet to sync. All you have to do is turn your client off again and replace the wallet.dat file in the new mintcoin folder with the wallet.dat file from your backup. Then restart the client/wallet again and once it is done syncing you will have your coins.

I just updated the client and it synced. Did not redownload the blockchain and it works.
It is minting?

Stop Mining.   Start Minting.   Mintcoin  [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
coolbeans94
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December 20, 2014, 12:26:49 AM
 #16968

I don't think you will ever mint anything unless you update your wallet.

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kiklo
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December 20, 2014, 12:52:04 AM
 #16969

Anyone that was on the last wallet Roboguy made should not have to redownload their blockchain.
Only update the wallet to ver 1.14 .

Anyone that was on older versions of the wallet ver 1.10 or lower will have to resync their blockchain from scratch, (this is not due to the network crash, just because the last version before 1.14 required it.)

No one should stay on any version lower than ver 1.14 , you risk unforeseen problems.

 Cool

FYI:
Future Reference : Give your Programmer access to upload on something where he can post links.
That should be corrected in case of future issues. Trello is crap, IMO .

cryptomommy
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December 20, 2014, 01:26:01 AM
 #16970

Received confirmation - the bootstrap file hosted on google drive works!

Will try to update in the am - also have linux and Ubuntu versions ready for upload - will handle tomorrow as well
dragonseer
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December 20, 2014, 03:57:00 AM
 #16971

It's good that the coin is running again but I'll hold off on updating for now. If the rate has dropped prematurely it's a bit hard to explain the vision for this coin to anyone interested in the concept down the line. I rather it isn't altered for the sake of a quick fix.

It is not altered in the calculations - we simply fixed the bug that was preventing the coin from moving onto the next phase. The 15% phase is a little earlier than participated from the programmers 1 year timeline; however is on time per the overall minting mathematical calculations.

Much like Bitcoin increasing in difficulty based on demand - Mintcoin is increasing in difficulty based on demand.

As a community we should take pride that Mintcoin has reached the annual goal of blocks created early and celebrate the next milestone in our history.



I see what you're saying but I think it is a trust issue. Investors buying mintcoin expect that the 'forecast' for the rate drops would be on a yearly schedule. My understanding is that this 'bug' as you put it can only be addressed via a hard fork, thus the update is mandatory. If the coin is forked now it should be stated plainly and the forecast for further rate drops should be revised.

EDIT: It would be nice to see David Latapie weigh in on this as well. My concern is that there are quite a few investors that don't check this thread or even open up their wallets every other day and this could be seen as creating another coin outside the scope of the original intention for this coin.

Visit http://aswp.life ~ Payments accepted in DASH! Purchase Firearms held in trust and much more!
Derek492
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December 20, 2014, 07:39:26 AM
 #16972

It's good that the coin is running again but I'll hold off on updating for now. If the rate has dropped prematurely it's a bit hard to explain the vision for this coin to anyone interested in the concept down the line. I rather it isn't altered for the sake of a quick fix.

It is not altered in the calculations - we simply fixed the bug that was preventing the coin from moving onto the next phase. The 15% phase is a little earlier than participated from the programmers 1 year timeline; however is on time per the overall minting mathematical calculations.

Much like Bitcoin increasing in difficulty based on demand - Mintcoin is increasing in difficulty based on demand.

As a community we should take pride that Mintcoin has reached the annual goal of blocks created early and celebrate the next milestone in our history.



I see what you're saying but I think it is a trust issue. Investors buying mintcoin expect that the 'forecast' for the rate drops would be on a yearly schedule. My understanding is that this 'bug' as you put it can only be addressed via a hard fork, thus the update is mandatory. If the coin is forked now it should be stated plainly and the forecast for further rate drops should be revised.

EDIT: It would be nice to see David Latapie weigh in on this as well. My concern is that there are quite a few investors that don't check this thread or even open up their wallets every other day and this could be seen as creating another coin outside the scope of the original intention for this coin.
This is all still somewhat of an experiment. Part of the risk of it. Basically what we know now is the coin's reward drops by 5% every 9 months instead of 12. So we will be at a 5% reward a whole year earlier... In year 3 instead of year 4.

Stop Mining.   Start Minting.   Mintcoin  [MINT]
5% annual minting reward. Mintcoins don't wear out like mining gear. They keep on minting!
dragonseer
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December 20, 2014, 08:37:43 AM
 #16973

It's good that the coin is running again but I'll hold off on updating for now. If the rate has dropped prematurely it's a bit hard to explain the vision for this coin to anyone interested in the concept down the line. I rather it isn't altered for the sake of a quick fix.

It is not altered in the calculations - we simply fixed the bug that was preventing the coin from moving onto the next phase. The 15% phase is a little earlier than participated from the programmers 1 year timeline; however is on time per the overall minting mathematical calculations.

Much like Bitcoin increasing in difficulty based on demand - Mintcoin is increasing in difficulty based on demand.

As a community we should take pride that Mintcoin has reached the annual goal of blocks created early and celebrate the next milestone in our history.



I see what you're saying but I think it is a trust issue. Investors buying mintcoin expect that the 'forecast' for the rate drops would be on a yearly schedule. My understanding is that this 'bug' as you put it can only be addressed via a hard fork, thus the update is mandatory. If the coin is forked now it should be stated plainly and the forecast for further rate drops should be revised.

EDIT: It would be nice to see David Latapie weigh in on this as well. My concern is that there are quite a few investors that don't check this thread or even open up their wallets every other day and this could be seen as creating another coin outside the scope of the original intention for this coin.
This is all still somewhat of an experiment. Part of the risk of it. Basically what we know now is the coin's reward drops by 5% every 9 months instead of 12. So we will be at a 5% reward a whole year earlier... In year 3 instead of year 4.


I'm not sure.. If time isn't the factor that affects when the rate drops then a rush on the coin may see it happen faster, that's why I'm looking for clarification and vague answers that talk about 'demand' and 'difficulty' don't make it clear at all. Do more miners make it mature faster?? If so then that's not what I thought Mintcoin was.

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Rent_a_Ray
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ZeitKnight


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December 20, 2014, 12:45:19 PM
 #16974

I think technically its not a fork. Since there is still only 1 chain... Right?

That's technically right. I don't know how we should call it Smiley
Maybe Sork?



Cheers,
Ray
cryptomommy
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December 20, 2014, 12:49:44 PM
 #16975


I'm not sure.. If time isn't the factor that affects when the rate drops then a rush on the coin may see it happen faster, that's why I'm looking for clarification and vague answers that talk about 'demand' and 'difficulty' don't make it clear at all. Do more miners make it mature faster?? If so then that's not what I thought Mintcoin was.

Dragon Seer -
From my understanding between talking with the developer and other programmers the reason why the wallet went to PoS early is because the estimated blocks per year was lower then the actual blocks generated within a full year time period.

That variable will be "off" against the human year as there are variables which nobody can control - ie how many people have their wallets open for minting, how often and how many transactions need to be processed through the PoS validation.

If I am misunderstanding something or you would like to discuss in a real conversation we would love to invite you to our next hangout?
Rent_a_Ray
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ZeitKnight


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December 20, 2014, 01:01:25 PM
 #16976

That's wrong.

Quote from: bee7
GetLastBlockIndex(pindexBest, false) returns the pindex of the last PoW block, not of the last  PoS block. Thus, the emission would be linear over time, not declining with time as it claimed to be in the coin specs.
RoboGuy
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December 20, 2014, 03:25:53 PM
 #16977

That's wrong.

Quote from: bee7
GetLastBlockIndex(pindexBest, false) returns the pindex of the last PoW block, not of the last  PoS block. Thus, the emission would be linear over time, not declining with time as it claimed to be in the coin specs.

Mintcoin was advertised as 20% for the first year.  While GetLastBlockIndex was returning the index of the last PoS block it was still 20%.  The only problem was when the wallets tried to transition to 15%.  The minting code was still trying to do 20% and the verification code was expecting 15%.
There was also an off by one, as you said.  The generation needed an Index+1 to get it into the 15% range.
Again there were never two chains so no fork.
rokkyroad
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December 20, 2014, 05:21:17 PM
 #16978

Updated the buntu 64 bit wallet. Flashed it up. Synced up nicely. All seems normal. Glad I did not have to download blockchain again.

That was a fast fix! Thanks.

" If you have to spam and shout to justify your existence then you are a shit coin."  TaunSew
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December 20, 2014, 06:36:56 PM
 #16979

Hey guys, I am re-downloading everything from scratch and am about 45% done syncing. But I just had some questions, looking at my Mintcoin folder, what do the db.log and debug.log files do? Also what is the database folder and txleveldb folder for? What is the purpose of these files? Screenshot below. Thanks!


Sick of mining?  Start minting!  5% per year!  Mintcoin "MINT"
fonzerrellie
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December 20, 2014, 07:09:54 PM
 #16980

I get that the early change to 15% seems normal to coders/programmers but to investors I can deff see why they'd have a legitimate reasons to be upset... most people/investors think/plan in time not blocks passed and could feel like they've been wronged since they were told a year and were planning for a year. If the change happens early they will be "butt hurt" about it and could cause a bunch of distrust and dumping. they'll just see it as losing out on 5% for 3 months.

just my thoughts about it

was just looking at my transactions, my first deposit of mint was on 2/21/2014 Wink

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