██[MZC] MazaCoin - National Currency - now @ RussiaToday, Independent, Telegraph

[ferall]

Interesting story...

I decided to carry out a little test.

I have tried this twice now on Cryptsy (would not dare on cryptorush with the lag,even mint pal)

Anyways I thought I would test the waters and put a fair sized sell order in first one was 50,000 and second 35,000 ish
both above the market price by a far margin... and on both occasions my sell orders started to get munched into at a fair pace...
whilst the lower sell orders remained in place...

think about that for a moment.. I have... and I have seen you ; )  

And when was this as the orders will still be on CrApsty?

[ocminer]

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Currently 0% Fee, in a secured, DDoS protected environment. A massive server, with lots of power.
Stratum, Vardiff, everything you need for ASIC-Friendly SHA256 hashing.

Get your ASIC's in, lets get those TH's in the MZC Network !

https://mzc.suprnova.cc

[remistevens]

http://www.buffalopost.net/?p=9539

There's Harris again. If Maza is a total scam, the Lakotas won't be getting another crypto anytime soon, the potential for them to profit from this would be gone. So ask yourself, does this look like a person who would sell out their people. secretly sell the premined reserve, all for a few thousand? Could be, sure, but I'm betting it isn't.

Also the oft repeated argument that this can't succeed because it hasn't yet succeeded is asinine and could be equally applied to Bitcoin.

[doc12]

I think its game over for this coin: To many people hoping for a pump and to many "to da moon"- people ^^  (Rule for the Trading-Rule-Book: The moment when "To the moon"-People appear in a cointhread, is's time to get out )

[solid12345]

Block reward: 5000 MZC halving every 241920 blocks (about 12 month) - not dropping below
1 MZC (inflationary minimum)
Total coin mined: 2.4192 billion MZC + yearly inflation
2.4192 billion coins will be mined in approx. first 5 years
Thereafter around 1 million per year (inflationary).

How can you expect 1$?

You do know $2.4 billion is chump change in international finance right? Forex does over 3 trillion a DAY in cash exchanges. The city of Dallas's GDP alone is over 400 billion. If in the long shot this coin did become an accepted currency of a dozen native tribes, those 2.4 billion coins could be eaten up several times over by major investors.

This is why if you truly believe long-term that Bitcoin has a future as an international digital currency, you'd do best to be stocking up on that and holding strong, because current market cap at 8 billion is not near enough to handle the amount of money that changes hands everyday, it has to go up tremendously. Anyday now you could wake up and find a Carlos Slim figure or mega bank like JP Morgan suddenly bought up 50% of the Bitcoin reserves, that is how cheap it is right now in the eyes of serious money people.

[Herp]

If Maza is a total scam, the Lakotas won't be getting another crypto anytime soon, the potential for them to profit from this would be gone. So ask yourself, does this look like a person who would sell out their people. secretly sell the premined reserve, all for a few thousand? Could be, sure, but I'm betting it isn't.

Also the oft repeated argument that this can't succeed because it hasn't yet succeeded is asinine and could be equally applied to Bitcoin.

It's not about them being a "total scam". It's about a certain degree of misinformation about the currency being "official" as listed on website.

[empowering]

Interesting story...

I decided to carry out a little test.

I have tried this twice now on Cryptsy (would not dare on cryptorush with the lag,even mint pal)

Anyways I thought I would test the waters and put a fair sized sell order in first one was 50,000 and second 35,000 ish
both above the market price by a far margin... and on both occasions my sell orders started to get munched into at a fair pace...
whilst the lower sell orders remained in place...

think about that for a moment.. I have... and I have seen you ; )  

Oh now I see it, lol, because you can't buy youself sells /yes, this is captain obvious, pls ignore me/

Captain obvious? yeah well you would be right apart from the last buy order for Mazacoin that got executed for me was several days ago on Cryptorush... I did all my buying 1st few days : )  so no they are not my buy orders buying my own coins...  so much for captain obvious..

[StuartGT]

To be fair to Payu Harris & the rest of the dev/promotion team, they're being very active on spreading the idea of Mazacoin adoption throughout Native American:

http://indiancountrytodaymedianetwork.com/2014/03/03/9-questions-surrounding-mazacoin-lakota-cryptocurrency-answered-153750

"What is expected from the MazaCoin in the next year? Ten years?

Within the first year, Harris hopes to see MazaCoin be a major payment option on the reservation. Harris believes as many as 50 percent of merchants will buy into the system within the first 12 months. Within 10 years, he wants to see cryptocurrency rise to an international standard for Indigenous groups.

“We want this to be a go-to standard for Indigenous,” he said.

And Mazacoin is featured prominently on www.indiancountrynews.com's weekly Native News Update, dated 7th March.

[stan26]

The Mazacoin founding press release stated that Mazacoin was "commissioned by the Oglala Lakota Nation" with the task of creating for them "the first ever Sovereign National Crypto-Currency." Now some people have claimed that Mazacoin was claimed to be an "official" currency of the Oglala Lakota Nation. But there is a clear difference between a currency being commissioned to be created, and it being officially adopted. The former would mean the Oglala Lakota Nation looked upon the currency with approval, the latter would mean the currency was legally adopted. But nowhere was it claim by the founder of Mazacoin that Mazacoin was a legally adopted currency of the Lakota. In fact there was a written document that was an agreement between Payu Harris and David Mills, of the Oglala Sioux Office of Economic Development. The agreement can be downloaded here:

http://cryptominers.freeforums.org/the-memorandum-of-understanding-t10.html

http://www.oglalalakotanation.org/oln/PROGRAMS_-_SERVICES.html 

Now even though mazacoin is not the official currency of the Lakota, this evidence shows the agreement between Harris and officials of the Lakota Nation that established mazacoin as a currency. This is not as amazing or news-breaking as "official currency of the Lakota Nation" but it's still a ground-breaking move in crypto-currency.

[solid12345]

The Mazacoin founding press release stated that Mazacoin was "commissioned by the Oglala Lakota Nation" with the task of creating for them "the first ever Sovereign National Crypto-Currency." Now some people have claimed that Mazacoin was claimed to be an "official" currency of the Oglala Lakota Nation. But there is a clear difference between a currency being commissioned to be created, and it being officially adopted. The former would mean the Oglala Lakota Nation looked upon the currency with approval, the latter would mean the currency was legally adopted. But nowhere was it claim by the founder of Mazacoin that Mazacoin was a legally adopted currency of the Lakota. In fact there was a written document that was an agreement between Payu Harris and David Mills, of the Oglala Sioux Office of Economic Development. The agreement can be downloaded here:

http://cryptominers.freeforums.org/the-memorandum-of-understanding-t10.html

http://www.oglalalakotanation.org/oln/PROGRAMS_-_SERVICES.html 

Now even though mazacoin is not the official currency of the Lakota, this evidence shows the agreement between Harris and officials of the Lakota Nation that established mazacoin as a currency. This is not as amazing or news-breaking as "official currency of the Lakota Nation" but it's still a ground-breaking move in crypto-currency.

Nice post, no matter what the hell you think, it is quasi-official because it's not like the Lakota are just going to turn around and create a new crypto to supplant the work Payu has been doing. This is the first and only chance the tribes have to do anything like this, there will be no 2nd shot so in that sense it is official.

[xamido]

Not once did i doubt their good intention.

What's happening right now is that a bunch of trader are playing around with its value, something that's unavoidable due to the global and open nature of crypto currency. The devs have no control upon the price since they haven't dump anything, and don't have the resources to pump it themselves.

Of course people are quick to dismiss this as a dead coin because nowadays if the price don't rise 10 times, there's no future for the coin according to them.

Even bitcoin in 2013 have a 5 month period of price stagnation.
 

[solid12345]

Not once did i doubt their good intention.

What's happening right now is that a bunch of trader are playing around with its value, something that's unavoidable due to the global and open nature of crypto currency. The devs have no control upon the price since they haven't dump anything, and don't have the resources to pump it themselves.

Of course people are quick to dismiss this as a dead coin because nowadays if the price don't rise 10 times, there's no future for the coin according to them.

 Yep, all one has to do is see the premine hasn't been cashed out, if the coin is dead the chance to make any money is gone forever by this logic.

[remistevens]

If Maza is a total scam, the Lakotas won't be getting another crypto anytime soon, the potential for them to profit from this would be gone. So ask yourself, does this look like a person who would sell out their people. secretly sell the premined reserve, all for a few thousand? Could be, sure, but I'm betting it isn't.

Also the oft repeated argument that this can't succeed because it hasn't yet succeeded is asinine and could be equally applied to Bitcoin.

It's not about them being a "total scam". It's about a certain degree of misinformation about the currency being "official" as listed on website.

Fine, but it could just be poor phrasing and hopefulness? Every coin out there is claiming to be the official coin of something or other. It could have just meant that Maza is first on the scene for the Lakotas. Nobody got approval from Bernhard Riemann, the Incas or the moon either, but if I was a dev there I wouldn't hesitate to call them the official currencies...

I get that it may have been misleading about where the tribal leadership stands, but it isn't necessarily trickery.

[stan26]

The Mazacoin founding press release stated that Mazacoin was "commissioned by the Oglala Lakota Nation" with the task of creating for them "the first ever Sovereign National Crypto-Currency." Now some people have claimed that Mazacoin was claimed to be an "official" currency of the Oglala Lakota Nation. But there is a clear difference between a currency being commissioned to be created, and it being officially adopted. The former would mean the Oglala Lakota Nation looked upon the currency with approval, the latter would mean the currency was legally adopted. But nowhere was it claim by the founder of Mazacoin that Mazacoin was a legally adopted currency of the Lakota. In fact there was a written document that was an agreement between Payu Harris and David Mills, of the Oglala Sioux Office of Economic Development. The agreement can be downloaded here:

http://cryptominers.freeforums.org/the-memorandum-of-understanding-t10.html

http://www.oglalalakotanation.org/oln/PROGRAMS_-_SERVICES.html 

Now even though mazacoin is not the official currency of the Lakota, this evidence shows the agreement between Harris and officials of the Lakota Nation that established mazacoin as a currency. This is not as amazing or news-breaking as "official currency of the Lakota Nation" but it's still a ground-breaking move in crypto-currency.

Nice post, no matter what the hell you think, it is quasi-official because it's not like the Lakota are just going to turn around and create a new crypto to supplant the work Payu has been doing. This is the first and only chance the tribes have to do anything like this, there will be no 2nd shot so in that sense it is official.

I was defending Mazacoin....

Yes, I would agree it is quasi-official or "official in that sense". There clearly was a section of the Lakota government involved (Office of Economic Development). But the FUD spreaders are saying it is not official in the sense of vote by council. I don't know what the council of the Lakota said or did about it or what role they had.

[BlackMarket]

OMG, what happens guys? no one believe maza again ?

[solid12345]

I seem to recall everyone running around calling Bitcoin the "official" currency of the internet as if that has any more truth to it!

Or how about the Bitcoin Foundation, that den of crooks and con artists being the "official" spokespeople for Bitcoin.

It is so funny that for being a decentralized currency, the crypto community desperately searches for a higher power to bless it and become a central authority for it.

[stan26]

OMG, what happens guys? no one believe maza again ?

Why? They didn't lie about anything.

[xamido]

I seem to recall everyone running around calling Bitcoin the "official" currency of the internet as if that has any more truth to it!

Or how about the Bitcoin Foundation, that den of crooks and con artists being the "official" spokespeople for Bitcoin.

It is so funny that for being a decentralized currency, the crypto community desperately searches for a higher power to bless it and become a central authority for it.

You make a fair point there. I thought the point of crypto currency is decentralization? But everyone is looking for others to regulate it for them, and they scream scam whenever something bad happens to them.

People should know the risk when they enter this market. This is a jungle, the predator prey on the smaller one.

[jrich76]

If Maza is a total scam, the Lakotas won't be getting another crypto anytime soon, the potential for them to profit from this would be gone. So ask yourself, does this look like a person who would sell out their people. secretly sell the premined reserve, all for a few thousand? Could be, sure, but I'm betting it isn't.

Also the oft repeated argument that this can't succeed because it hasn't yet succeeded is asinine and could be equally applied to Bitcoin.

It's not about them being a "total scam". It's about a certain degree of misinformation about the currency being "official" as listed on website.

Fine, but it could just be poor phrasing and hopefulness? Every coin out there is claiming to be the official coin of something or other. It could have just meant that Maza is first on the scene for the Lakotas. Nobody got approval from Bernhard Riemann, the Incas or the moon either, but if I was a dev there I wouldn't hesitate to call them the official currencies...

I get that it may have been misleading about where the tribal leadership stands, but it isn't necessarily trickery.

Payu and Anonymous Pirate both have made the point that this currency is out of the hands and control of the tribal leadership to avoid internal politics and scandal. So you are correct, it is not trickery, in fact people are missing the fact that this was done by design to avoid trickery.

[remistevens]

If Maza is a total scam, the Lakotas won't be getting another crypto anytime soon, the potential for them to profit from this would be gone. So ask yourself, does this look like a person who would sell out their people. secretly sell the premined reserve, all for a few thousand? Could be, sure, but I'm betting it isn't.

Also the oft repeated argument that this can't succeed because it hasn't yet succeeded is asinine and could be equally applied to Bitcoin.

It's not about them being a "total scam". It's about a certain degree of misinformation about the currency being "official" as listed on website.

Fine, but it could just be poor phrasing and hopefulness? Every coin out there is claiming to be the official coin of something or other. It could have just meant that Maza is first on the scene for the Lakotas. Nobody got approval from Bernhard Riemann, the Incas or the moon either, but if I was a dev there I wouldn't hesitate to call them the official currencies...

I get that it may have been misleading about where the tribal leadership stands, but it isn't necessarily trickery.

Payu and Anonymous Pirate both have made the point that this currency is out of the hands and control of the tribal leadership to avoid internal politics and scandal. So you are correct, it is not trickery, in fact people are missing the fact that this was done by design to avoid trickery.

Ah so its the coin of the people, not the leadership. Thanks that makes me like Maza even more!