Cosmos
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Activity: 113
Merit: 10
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March 06, 2014, 02:35:09 AM |
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Doing some mining for maza. Seems pretty novel for a native tribe to be the first to take on the task of registering it as their official currency.
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Donation BTC: 1Pno5cingvmmC8CtpHgNJcoLqfyzSz6kEy
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anderl
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March 06, 2014, 03:51:15 AM |
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“I want the native people to embrace Bitcoin,” he told Forbes. “Bitcoin is a way of getting involved in big finance without being a Harvard grad or part of the Wall Street elite.”
Hah. BTC is not Mazecoin. Maze is yet another scam coin to fool people to buy in while the developers dump the premine into the buyers. The developers pump out a few press releases (they only cost a few hundred bucks each). Then they walk away from the coin never to be seen again. |
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anderl
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March 06, 2014, 04:07:16 AM |
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Wow so 15k people that are under the poverty line are now using it as an official currency even if only a fraction have internet access. How many will be using it in local stores? Mazecoin is just another scam coin. |
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tifozi
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March 06, 2014, 04:13:14 AM |
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Wow so 15k people that are under the poverty line are now using it as an official currency even if only a fraction have internet access. How many will be using it in local stores? Mazecoin is just another scam coin. LOL who knows how many will use it. All we know is you won't and it is a tough proposition, but I think collectively a lot of us will try to overcome the depression. |
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anderl
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March 06, 2014, 04:15:44 AM |
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If the tribe adopted BTC it would seem sincere if the developer promoted that. Because he makes a coin, premines it and pumps it, then he is trying to get rich before the tribe gets their money. So the good action is actually a selfish act underneath.
Most altcoins are greedy selfish attempts and developers trying to get rich. Mazecoin is yet another one in the list.
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tifozi
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March 06, 2014, 04:18:50 AM |
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If the tribe adopted BTC it would seem sincere if the developer promoted that. Because he makes a coin, premines it and pumps it, then he is trying to get rich before the tribe gets their money. So the good action is actually a selfish act underneath.
Most altcoins are greedy selfish attempts and developers trying to get rich. Mazecoin is yet another one in the list.
I am confused with your post. Can you please explain a bit more? |
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anderl
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March 06, 2014, 04:35:23 AM |
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If the tribe adopted BTC it would seem sincere if the developer promoted that. Because he makes a coin, premines it and pumps it, then he is trying to get rich before the tribe gets their money. So the good action is actually a selfish act underneath.
Most altcoins are greedy selfish attempts and developers trying to get rich. Mazecoin is yet another one in the list.
I am confused with your post. Can you please explain a bit more? Its about the economics of currency. Currency need to maintain a level of circulation equivalent to the transaction rate of the currency in circulation. Giving the tribe a "reserve" means nothing because there is no tool to return currency into the reserve other than buying them back. Because the inflation is infinite and the tribal population is not growing as fast as the currency is being produced the net result is that inflation will be higher than for a normal currency. This will be exacerbated because the currency needs to be converted to USD or other fiat to do transactions outside the tribe for fiat or even to do transactions into other cryptos. Mazacoin has doomed the tribe to high inflation and potentially hyperinflation and because they have a reserve the only tool the reserve acts as is to spark more inflation. The developers have no understanding of economics, only enough programming knowledge to make a clone and enough salesmanship to scam a tribe into agreeing to this sham. The developer on the other hand anticipates a run up in price as part of the scam and dumps the coins converting them into BTC and getting rich. The coin becomes abandoned and then what |
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coins101
Legendary
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Activity: 1456
Merit: 1000
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March 06, 2014, 03:17:16 PM |
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If the tribe adopted BTC it would seem sincere if the developer promoted that. Because he makes a coin, premines it and pumps it, then he is trying to get rich before the tribe gets their money. So the good action is actually a selfish act underneath.
Most altcoins are greedy selfish attempts and developers trying to get rich. Mazecoin is yet another one in the list.
With respect, I disagree. Who is currently looking out for these people? You, me, anyone? No. This is their opportunity for economic freedom and wellbeing. They have chosen to adopt a new coin. Its their right to do so and its their land to do with as they choose. Bitcoin Vs MazaCoin - they have more freedoms to regulate their own currency, than they would Bitcoin....which is in an uncertain environment at the moment, but they can create their own certainty. |
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anderl
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March 06, 2014, 11:14:16 PM |
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If the tribe adopted BTC it would seem sincere if the developer promoted that. Because he makes a coin, premines it and pumps it, then he is trying to get rich before the tribe gets their money. So the good action is actually a selfish act underneath.
Most altcoins are greedy selfish attempts and developers trying to get rich. Mazecoin is yet another one in the list.
With respect, I disagree. Who is currently looking out for these people? You, me, anyone? No. This is their opportunity for economic freedom and wellbeing. They have chosen to adopt a new coin. Its their right to do so and its their land to do with as they choose. Bitcoin Vs MazaCoin - they have more freedoms to regulate their own currency, than they would Bitcoin....which is in an uncertain environment at the moment, but they can create their own certainty. Please see post 29 |
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jjaquarius
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Activity: 11
Merit: 0
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March 07, 2014, 06:12:13 PM |
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“I want the native people to embrace Bitcoin,” he told Forbes. “Bitcoin is a way of getting involved in big finance without being a Harvard grad or part of the Wall Street elite.”
Hi We identified the Crypto Currency community's need for security, usability and multicurrency support. We are happy to Introduce our Omniwallet that will be a perfect solution, The Omniwallet is indeed a new type of web wallet that combines Security, Usability and Multy Currency support. It is currently in an early development stage and it is expected to significantly progress in the upcoming weeks. This is the time to contribute to its development. To understand better, please visit the following link: http://blog.mastercoin.org/2014/03/04/introducing-omniwallet-pre-alpha-developers-wanted/May you have any questions, please contact me via judith@mastercoin.orgLooking forward to hearing from you Judith |
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warlogna
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Activity: 28
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March 07, 2014, 07:12:02 PM |
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And while the Lakota may call mazacoin their national currency, it remains to be seen whether it will be recognized elsewhere. The move is definitely being watched, though. Mr. Harris has talked with officials from a range of U.S. agencies, including the Treasury Department and Bureau of Indian Affairs, as well as a number of other tribes, and people from as far away as Ireland, Serbia, and Russia.
It’s also ironic that this Indian nation would be surging into the newest digital frontier. Unemployment on the Pine Ridge reservation runs north of 75%, per capita income is around $6,000; it’s the poorest county in the U.S. Yet there was Mr. Harris on Monday, in the heart of the world’s financial center (the Bitcoin Center is a block away from the NYSE), talking about the most cutting-edge, experimental financial technology around.
“I have a ridiculously huge smile on my face when I think about that,” he said. “You can’t miss the irony of that.”
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coinsoh27
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Activity: 5
Merit: 0
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March 09, 2014, 11:37:16 AM |
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I'm excited because the founder is still quiet  Maybe its his strategy to make the coins go down, mine more then give the convincing answer to our questions then after that the coin will go up. or something else  I'm wondering that how come the tribe wont accept that money in exchange of nothing and doing nothing. I believe it wont change anything because he is not running away and he wont do that because he will become richer if he will still do whats in the plan than finishing this "scam" now. I hope its not a scam. I wont give up believing that this will be the start of the change that they want but if not then this is still an inspiration and another real one will rise. Just continue fighting Lakota. Time will come ... and its near. We Live to Survive': One Week with Lakota http://www.youtube.com/watch?v=ELWllQNS1cM |
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extro24
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March 09, 2014, 12:06:17 PM
Last edit: March 09, 2014, 01:00:46 PM by extro24 |
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If the tribe adopted BTC it would seem sincere if the developer promoted that. Because he makes a coin, premines it and pumps it, then he is trying to get rich before the tribe gets their money. So the good action is actually a selfish act underneath.
Most altcoins are greedy selfish attempts and developers trying to get rich. Mazecoin is yet another one in the list.
With respect, I disagree. Who is currently looking out for these people? You, me, anyone? No. This is their opportunity for economic freedom and wellbeing. They have chosen to adopt a new coin. Its their right to do so and its their land to do with as they choose. Bitcoin Vs MazaCoin - they have more freedoms to regulate their own currency, than they would Bitcoin....which is in an uncertain environment at the moment, but they can create their own certainty. The tribe has lots of assets - land, farms, casinos. Nevermind if they have no army - the Mazacoin is backed by the economy of the Lekota tribes. And that economy will not be taken away from them, since legally they are sovereign within the federal US. The Lekota economy may be small, but it is far more than Bitcoin has. This a very big deal, because the tribal authority has publicly backed the coin. It is far more significant than Auroracoin, which has simply been ignored by the government of Iceland. Mind you, the US might threaten to withdraw subsidies if the coin took off in a big way. Technically, the tribes are not supposed to issue their own currencies, but the worst the US could do would be to refuse to accept Mazacoin as payment. |
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Bit_Happy
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Activity: 2114
Merit: 1040
A Great Time to Start Something!
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March 14, 2014, 09:18:16 PM |
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Will Mazacoin ever see another flurry of attention, or is it totally over?
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