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Author Topic: [ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Multi-algo soon  (Read 97426 times)
radi324
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Muniti creator


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March 29, 2014, 01:22:54 AM
 #1



D2D (Door-to-Door distribution) is now underway!

- First national cryptocurrency to utilise the X11 algorithm
- First national cryptocurrency to propose a feasible D2D distribution system
- Third cryptocurrency to utilise the X11 algorithm after Darkcoin and Hirocoin
- First national cryptocurrency to create a multipool, similar to Blackcoin's, so as to embrace SHA256 and sCrypt miners as well
- First national cryptocurrency to promote a holistic approach to cryptocurrency by using it to promote tourism and integrate it with the current system
- More than 500 followers on Twitter!


Poster Hunt competition!

Another week, another step towards the initial distribution of Muniti. This week, we have prepared something really interesting for those who are currently in Malta at the moment. Today we were busy putting up 10 posters in various spots around the island, which are the same as the promotional posters we have recently put up except that they are not as visible and they have a particular sign on them; or rather, a signature. Our marketing guru, Richard Spiteri, signed these 10 posters for a specific purpose. If anyone manages to find these 10 posters, take a picture of them (together with their location) and send them to muniticoin@gmail.com, they will win a brand new Samsung Galaxy S4 with 2 years' worth of local warranty. Of course the prize is reserved for whoever sends them first. Second place will get 3000 MUN, while third place will get a Muniti USB and a Mionix gaming mouse.

Who said that Mondays should all be blue?



Buy MUN directly with Euro! http://cryptokopen.eu/buy-MunitiCoin

Now on MarketWatch and other renowned websites:

http://www.marketwatch.com/story/maltese-it-team-develops-innovative-tourism-venture-muniti-maltas-bitcoin-2014-04-22

http://www.newschannel10.com/story/25307760/maltese-it-team-develops-innovative-tourism-venture-muniti-maltas-bitcoin

http://www.news.nom.co/maltese-It-team-develops-Innovative-9112372-news/

http://www.onenewspage.us/n/Press+Releases/750ebofeo/Maltese-IT-Team-Develops-Innovative-Tourism-Venture-Muniti.htm

http://www.prnewswire.com/news-releases/maltese-it-team-develops-innovative-tourism-venture-muniti-maltas-bitcoin-256170481.html


We are pleased to announce the promulgation of a novel alternative cryptocurrency called Muniti. Over the past few weeks, the altcoin community has been riddled with coins proclaiming themselves as national cryptocurrencies seeking to “break the shackles” and revolutionalise their country thanks to their cryptocurrency. Muniti is also a national cryptocurrency, but with one huge difference. It is centred at molding perfectly with the current system in place and with the sole purpose of promoting and emancipating the country which it will represent.

Muniti will be the cryptocurrency of Malta, a small island situated in Southern Europe and which is a fully-fledged member of the EU. Known for its marvellous climate, crystal-clear beaches and historic past, Malta is a very popular destination with tourists, especially from the UK and Italy. Lately, more and more tourists are visting from non-EU countries, such as the USA, Canada and China, but the main barrier is and will remain there – exchanging one’s own currency. The integration of the Euro has increased Malta’s influx of tourists from the EU, but this change was not as pronounced when it came to non-EU citizens. This is a huge pity as Malta is also a popular hub for people seeking to learn and improve on their English in our dedicated English-teaching schools, as the English language is a national language in Malta along with Maltese.

This is where the whole concept of Muniti comes in. “Muniti” in Maltese means coins, and it is derived from Latin, since the Maltese language is a mixture of Arabic, Italian, French, English, Spanish, Phoenician and other languages, to mention a few. The idea behind Muniti is to have a cryptocurrency which is partly spread fairly between the citizens of Malta, with the major part being mined by non-Maltese citizens, ideally for the purpose of visiting Malta and be able to spend the coin here, while at the same time pinning Malta further up on the "Popular Destinations" board. The whole Bitcoin spectacle has very recently reached the ears of people here in Malta, and while many find the idea to be intriguing, they also perceive it as cumbersome and complicated. This was the same story as with PayPal, which took longer to take root here than other countries simply because people were misinformed about it.

We seek to change that and integrate the cryptocurrency revolution efficiently and swiftly. The project will involve a 32% premine which will be fully distributed between the households in Malta, except for 1% of the same premine which will be reserved for a very special event as I will explain further down. We want to strike a balance between having Muniti distributed in a good amount among the citizens, while at the same time leaving the major part to be mined by everyone interested in this coin; after all, the primary aim of this coin is to promote tourism. The coin will be distributed via door-to-door distribution, where each household will receive a paper wallet with a set amount of Muniti; a dedicated Distribution Team wearing Muniti-branded poloshirts will be responsible for such distribution. The reasons for using this method of distribution are various. First of all, according to a recent survey, a very high percentage of citizens use the Internet frequently but there is a smaller percentage which only use the Internet for social networking purposes and for reading the news. In order to ensure that the coin reaches everyone, it is best to use a traditional, nearly-foolproof method as is the personal distribution system. The only caveat in using such a method is that not every household houses the same amount of persons, and hence some might benefit more than others. However, this should ensure that every person in Malta receives their paper wallet and their share of the coins, as opposed to other methods which although might be fairer in theory, are much harder to implement in practice. Also, sending a paper wallet to every individual person residing in Malta would not be time-efficient and would require an inordinate logistics effort, which would border on the impossible. We feel that this method is both realistic and fair.

I saved the best part for last, and that is promotion of the coin. Firstly, the coin will be based on the X11 algorithm used for Darkcoin, for various reasons. There are no multipools currently targeting such an algo, and it is not foreseeable that there will be any in the near future; if such a thing were to happen, it can immediately be countered using the proven Kimoto Gravity Well. Muniti, unlike Darkcoin, will not be centred on anonymity, but rather on efficiency. Since X11 is much less strenuous on graphics cards, it runs a lot cooler and saves a lot on electricity costs, which is a blessing. This is an extremely important factor for Maltese people, as first of all temperatures here in Malta tend to be very high; in summer, the average temperature is 35 degrees celcius. Secondly, electricity costs are also pretty expensive, and the X11 algo can run coolly without any added external cooling and hence allowing for more underclocking and undervolting. It’s a win-win situation!

Secondly, I work in the media sector, and I can guarantee national coverage of the coin within a couple of months. Along with the company I work for, I will be steadily contacting all the other media companies and offering them an overview of the coin along with other promoting material sent to them, as well as making TV appearances in order to explain the usefulness of such a coin. This should lead to other newspapers and media companies from outside Malta picking up the ball and carrying it along. Naturally, promotion on the Internet will also be taking place profusely, as well as promotion on the streets as well with the distribution of leaflets.

The last and truly best part is that the 1% premine which I mentioned earlier on will all be given away at an extremely popular charity event called “L-Istrina”, which takes place two days after Christmas every year here in Malta. Each and every year, donations are collected for 12 hours in order to help people with special needs, with the total amount of money having passed the €1,000,000, €2,000,000 and even the €3,000,000, as has happened last year. Our aim is to have the total amount surpassing the €4,000,000 mark this year, thanks to our donation and thanks to all of you who decide to embark with us on this project.

Countdown to launch

Launch was successful!

Specifications


  • Name: Muniti
  • Abbreviation: MUN
  • Algo: X11
  • Block reward: 39 coins per block, reducing 1% every two weeks with compound
  • Block generation: 1.5 minutes
  • Difficulty retarget: Kimoto Gravity Well (KGW)
  • 76000000 total coins to be issued
  • Coins reserved for premine: 32%
  • D2D method of distribution (door-to-door)


The reason for using KGW is that it has been fully tested and proven. Although it is not failsafe and other mechanisms such as DGW and DigiShield have been launched, they have not yet been tested fully and we do not want to risk stability in such an important project. Other more efficient retarget mechanisms may be put in place if required.

Launch date

The coin will officially launch on Monday, 31st of March, 2014 @ 20:00 CET. The wallet will be available for download immediately at the launch along with the source code.

Downloads

Windows Wallet:  https://www.mediafire.com/?1m2em73969j4eqd
Mac OSX wallet: http://www.mediafire.com/download/f4nxazdqe09s5z6/Muniti-Qt.dmg.zip
Source Code: http://github.com/muniti/muniti
GPU miner (Windows):
https://www.mediafire.com/?cxs6gqt1exwvwfz OR
https://mega.co.nz/#!2JYXHDpD!OOiFOdsh5rnvk1zhz5niXENNzbgnw1UXwmFcicBzevI
GPU miner (Source): https://github.com/prettyhatemachine/sph-sgminer
CPU miner (Windows): http://darkcoin.io/downloads/xcoin-miner.zip
OR
https://www.mediafire.com/?279eu20g9iijig0
CPU miner (Source): https://github.com/ig0tik3d/darkcoin-cpuminer-1.2c
RCP Port: 3519


P2Pool source code

Anyone interested in creating a P2Pool for Muniti is welcome to do so:

https://github.com/linked67/p2pool-mun

Pools

1. BitEmber - http://mun.bitember.com


2. CrunchHarder - https://mun.crunchharder.net/

3. BenchCryptoPools - http://benchcryptopools.myvnc.com/muniti/public/

4. MineP.it - https://www.minep.it/pool/mun/


5. Supernova pool - https://mun.suprnova.cc

6. P2Pool by linked67 - http://p2poolcoin.com:30619/static/

7. HashHot - http://mun.hashhot.com

8. Chunk Pools - https://chunkypools.com/mun

9. CPU Pool - https://cpu-pool.net/mun/

10. Minr pool - https://minr.es/

11. OmarG Pool - www.omargpools.ca/mun/

12. HashHarder pool - http://www.hashharder.com/x11/muniti

13. Suvpool - http://mun.suvpool.com

MultiPools

1. Multipool - mine Muniti using sCrypt or SHA256 - http://bc256pool.com/ (currently shared with Blackcoin, if the response is good enough a separate multipool altogether will be developed)

Quote
To get started on the MultiPool use one of the connection strings below:

stratum+tcp://bc256pool.com:3032 is variable difficulty from 1-256 SHA ONLY
stratum+tcp://bc256pool.com:3008 is constant diff of 256 SHA ONLY


stratum+tcp://bc256pool.com:2032 is variable difficulty from 8-512 Scrypt
stratum+tcp://bc256pool.com:2008 is constant diff of 256 Scrypt



stratum+tcp://bc256pool.com:4032 is variable difficulty from 8-512 Scrypt-N
stratum+tcp://bc256pool.com:4256 is constant diff of 256 Scrypt-N ONLY

username: yourMUNITIaddress
password: anything

2. Poollers United - http://multi.poollersunited.com/

Quote
Username: Munitiwallet address
Password: anything
Algorithm: X11
URL (difficulty 32): stratum+tcp://multi.poollersunited.com:10029
URL (difficulty 64): stratum+tcp://multi.poollersunited.com:10030
URL (difficulty 256): stratum+tcp://multi.poollersunited.com:10031


Exchanges

We are now live on:

Poloniex: https://poloniex.com/exchange/btc_mun
Bittrex: https://www.bittrex.com/Market/Index?MarketName=BTC-MUN
Austin Global Exchange: https://agx.io/markets/322/trade
CCtrade: https://cctrade.cc/market/view/MUN-BTC
SwissCeX: Vote here: https://www.swisscex.com/voting
MintPal: Vote here: https://www.mintpal.com/voting

Bounties

There will be a very limited amount of the premine reserved for Bounties. More details will be given soon - check the website for updated information (http://www.muniticoin.com/bounties/)

Provisional list of Bounties:

Reddit Tipbot - 750 MUN

Android wallet - 1000 MUN

Mac OSX wallet - 500 MUN - claimed by OCminer - paid /// 250 MUN were also paid to menzo for fixing issues with the wallet


Translations of the Bitcointalk thread – 20 MUN (has to be undertaken by a native speaker of the language in question, and the said thread has to be updated and maintained regularly. The threads cannot be self-moderated.)
  • Chinese translation - claimed by zxm7001 - paid
  • Russian translation - claimed by miner7788 - paid
  • Italian translation - claimed by casacup - paid

Card configurations (with the whole command line/configuration included) – 5 MUN for 10 working configurations.
  • First set provided by blajde - paid
  • Second set provided by brucat18 - paid

Video promoting the coin – 60 MUN (if there are several contestants, the best one will be chosen by the Muniti team.)

Promotion on other forums and sites – 10 MUN
  • First bounty in promotion claimed by zxm7001 - paid
  • Second bounty in promotion claimed by @AllcoinGive (acehpromo) - paid
  • Third bounty in promotion claimed by Penetrator 10 - paid
  • Fourth bounty in promotion claimed by coine_smithe - paid
  • Fifth bounty in promotion claimed by friendly - paid

Articles on prominent websites – 30 MUN

Step-by-step mining guide for prospective miners – 15 MUN

  • Claimed by blajde for a text guide (paid). Bounty will also be given for those who create a pictorial or video guide

Wiki page on Muniti - 30 MUN

As a team we regret to inform the general public that bounties for pool operators, exchanges and merchants will not be offered. We feel it defeats the purpose of bounties when these are offered to entities which would stand to gain if they decide to adopt Muniti without the need of further incentive. That being said, anyone interested to help in this project will receive our full support.

The bounties claimed before the launch will be paid 24 hours after the said launch.

Basic Mining guide for GPUs on Windows 7 by blajde

http://www.muniticoin.com/card-configurations/

Coin distribution: details

The total number of coins will be 76000000. 32% of them will  be premined, i.e. 24182000. 1% of the pre-mine will be reserved for l-Istrina.

According to the latest census, there are 150141 private households. Each household will be receiving 156 Muniti. Our team's rigs will also be mining Muniti, which reserve will be dedicated for bounties and logistics.

The distribution will initiate on the 5th of June, 2014. The first distribution will consist of 30% of each household's total entitlement, meaning that every household will receive 47 Muniti. The distribution will take place over a period of 30 days, sending out the paper wallets locality by locality. This will ensure that the distribution takes place step by step and in piecemeal fashion. The second part of the distribution will start on the 16th of August, 2014, which is the morrow of a national holiday: the Holy Feast of St. Mary. On this day in 1942,  a British convoy managed to make it to the Grand Harbour at the end of WWII, saving the Maltese people from famine after being bombarded by the enemies for a long period of time, cutting off all supplies and help from outside. The second distribution will consist of 28% of each household's total entitlement, meaning that every household will receive 44 Muniti. The same method and length of time as the first distribution will be used.

The third distribution will take place on the 9th of December, 2014, which is another day following a national holiday - "Il-Vitorja" (the Victory). Another 28% of each household's entitlement will be distributed, which amounts to 44 muniti. The final distribution will take place on the 11th of February, and will consist of the remaining 14% of the entitlement, amounting to 22 Muniti. The address for first maildrop  is mWuwabhbmNHyYNLbQ8pzYfnFymHm5JicXf. The address for the bounties is me4HkydLYfdH3PP2oDudqRYnpFvxuCL3K2. The rest of the reserve for the other distributions is situated in magsvXHxvJhN3i3pEoSCPGJr5VwzFVgkrF.


Block explorer by fairglu

fairglu kindly finished a coin explorer for Muniti, and it is fully functional with the top 100 list included as well.

http://chainz.cryptoid.info/mun/

Difficulty chart: http://coinz.cryptoid.info/diff/?mun

Since he performed the work free of charge, please feel free to send him a donation:

MUN: mVGpqH2dBLWPV8uQmumHhjGHrpFw4tLXVg
BTC: 19sjVtUH6vLZZWbE6r8fEbtyQeetNwhB31

Social media

Reddit - http://www.reddit.com/r/muniticoin/

Twitter - https://twitter.com/MunitiCoin @MunitiCoin

Facebook - https://www.facebook.com/muniticoin

Articles

http://www.cryptoarticles.com/crypto-news/2014/4/2/muniti-maltas-tourism-crypto-currency

http://www.cryptoarticles.com/crypto-news/2014/4/11/munitis-media-promotional-campaign-starting-soon

Local news

http://www.di-ve.com/news/muniti-malta%E2%80%99s-own-bitcoin

http://www.thirdeyemalta.com/#!Muniti-Maltas-own-Bitcoin/cmbz/D69EC27A-444B-4169-863B-5CE2072F8E9E



Links

Our official website - http://www.muniticoin.com/

Visit Malta - a one-stop website showing all the basic information one needs to know before visiting Malta - http://www.visitmalta.com/

Air Malta - the country's national airline and a symbol of pride - http://www.airmalta.com/

Lonely Planet (Malta) - get to know Malta from an outsider's point of view - http://www.lonelyplanet.com/malta

Jamie Oliver's blog about Malta - sample some of Malta's finest traditional dishes by reading Jamie Oliver's expert reviews on some of the delicacies that he has tasted - http://www.jamieoliver.com/news-and-blogs/blogs/malta-a-lot-of-good/

Deals - interested in visiting Malta, but you want to get real value for your money? Check out this website wherein daily deals can be bought, allowing you to take the best of everything for a fraction of the price! - http://deal.com.mt/deals.html

L-Istrina - Malta's annual charity festival where the whole community donates their efforts towards helping people in need, especially children. Last year's collected sum was over €3,400,000; when one considers that the population is 416,055, that is one impressive sum indeed. - http://www.l-istrina.org/

Top 25 cities for young people to live in - check out where Malta lies! http://list25.com/25-best-cities-for-young-people-to-live-in/

Translations

Chinese thread: https://bitcointalk.org/index.php?topic=550013
Russian thread: https://bitcointalk.org/index.php?topic=549517
Italian thread: https://bitcointalk.org/index.php?topic=550502



Updates

Distributional material for promotion received:





Muniti USBs being tested and loaded with wallets, samples articles and images:



Local promotion has just started - promotional packages have been sent to newspaper companies in Malta (14/4/2014)

This is what the promotional package consisted of:



And here's some of the packages all wrapped up and ready to be sent!



Also, following a meeting by the Muniti development team, we have announced some important changes in distribution:

https://bitcointalk.org/index.php?topic=545886.msg6218762#msg6218762

Multipool for Muniti now launched - 15/4/2014

A multipool which allows users to mine Muniti using SHA-256 or sCrypt has been developed by squall333 and can be accessed on http://bc256pool.com/

This pool is currently shared with Blackcoin and payouts are rendered depending on the shares. For example if Muniti miners contribute 60% of the shares, they will get paid out 60% of coins mined and that will be sold and traded for Muniti and paid back. You can mine using your Muniti address as a username.

This is another step towards developing Muniti into a fully-fledged national cryptocurrency. Spread the word!

Street promotion has commenced - 18/4/2014

It has been another extremely busy day for all of us. We started promotion out on the streets, with the sticking up of posters onto prominent places and informing passers-by about cryptocurrencies in general, before mentioning Muniti to them and giving them an informative flyer. We had to split individually as we're only six right now, but with the positive response which we received today, we are optimistic about the numbers growing bit by bit. These are pictures of some of the posters we managed to set up; lots more were spread around and we will be continuing on Saturday, as tomorrow is Black Friday.











Street promotion continues - 19/4/2014

It was a pretty hot day, and it did serve us as a tanning session as well! Better than that, we were really pleased with the response from some tourists who saw us putting the posters up; one of the team  met a group who knew about Bitcoins and jumped on him like a pack of wolves. The project really tickled their fancy and they promised him they'd scoop some Muniti as soon as they returned home. Here's a few more pictures of the distributed posters:







We are starting the recruitment drive for the distribution team as from next Monday. In the meantime, we would like to wish a Happy Easter to everyone!

Recruitment Drive - 22/4/2014

Job listings are now up at ETC (Employment Training Centre) in Valletta, and an email will be sent to jobseekers subscribed to their service with us included in the job listings. This is their website:

http://etc.gov.mt/Index.aspx

We are also listed on the largest private-trading site in Malta, which is Maltapark:

http://www.maltapark.com/jobs/jobdetail.aspx?id=19043

PR issued by the Muniti Team - 22/4/2014

http://www.onlineprnews.com/news/478905-1398157773-maltese-it-team-develops-innovative-tourism-venture-muniti-maltas-bitcoin.html

Buy MUN directly with Euro - 25/4/2014

We have great news to kick off the weekend - you can now buy Muniti directly with Euro without the need to buy BTC first. This is another crucial step towards ensuring that Muniti becomes used as the first touristic cryptocurrency in the world, for the lovely island of Malta.

Here's the link for the exchange:

http://cryptokopen.eu/buy-MunitiCoin

Launch of the Poster Hunt Competition and another local news article - 25/4/2014

Another week, another step towards the initial distribution of Muniti. This week, we have prepared something really interesting for those who are currently in Malta at the moment. Today we were busy putting up 10 posters in various spots around the island, which are the same as the promotional posters we have recently put up except that they are not as visible and they have a particular sign on them; or rather, a signature. Our marketing guru, Richard Spiteri, signed these 10 posters for a specific purpose. If anyone manages to find these 10 posters, take a picture of them (together with their location) and send them to muniticoin@gmail.com, they will win a brand new Samsung Galaxy S4 with 2 years' worth of local warranty. Of course the prize is reserved for whoever sends them first. Second place will get 3000 MUN, while third place will get a Muniti USB and a Mionix gaming mouse.

Who said that Mondays should all be blue?

On a related note, another prominent Maltese magazine published an article about Muniti on their website:

http://www.thirdeyemalta.com/#!Muniti-Maltas-own-Bitcoin/cmbz/D69EC27A-444B-4169-863B-5CE2072F8E9E

Local casino & online gaming company in contact with Muniti - 29/4/2014

Over the past week, we have been in talks with AA Casino, a Maltese company which specialises in online gaming and management of physical/virtual casinos. They were the ones to approach us first, safely affirming the fact that local promotion is strengthening and growing rapidly. They are very much interested in our project and would like to promote it through their extensive network, both on a national and international plane.



More street promotion - 7/5/2014

We will be lifting our foot slightly from street promotions for now and focus on strengthening our ties with certain local companies and entities instead, as well as try and spread the word in the crypto-world a bit more. For the latter part, we will need all the help we can get from you, whilst thanking you for the patience and support shown so far. The "poster hunt" competition was not won by anyone, with the highest number of found posters by an individual being 8 posters (and the remaining posters being easier to spot in our opinion!) - we will be deciding on what reward to assign to this person next Friday, where we will also be publishing the names of the contestants and top 3 "hunters".

We would like to apologise for the promised piece of news which was meant to be announced last weekend but which still has not appeared. It was not within our complete control, as you shall see tomorrow: if the news does not materialise, we will announce what it was tomorrow and all matters pertinent to it, hence proving that we tried our best to make it happen.

Still no word regarding the "Bitcoin meeting" in Malta has reached our ears, so we will assume that it's either not happening or that whoever is organising it is not that keen on the matter. We encourage any Bitcoin connoisseurs from Malta to message us - we'd love to meet you and perhaps offer you a position within our team, should your expertise be required. More updates to be issued this weekend (and tomorrow as promised).




We are now live on Poloniex! - 9/5/2014

Muniti has been successfully listed on Poloniex. Check out the market:

https://poloniex.com/exchange/btc_mun

Multi-algo project to be implemented - 17/6/2014

One of the Dev members has managed to contact a local programmer who is interested in the project, and the main topic was multi-algo. It is possible to fork Muniti into a coin which would utilise X13, SHA-256, sCrypt, Blake and Groestl. This would make it resistant against 51% attacks which are threatening BTC and also disallow the monopoly of ASICs, as each of the 5 algorithms would have an equal share on the net hashrate.

More info to be released at a later date.

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 01:23:39 AM
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lol which country is next?

should make a poll...

any coin that makes me a profit.
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March 29, 2014, 01:28:16 AM
 #3

lol which country is next?

should make a poll...

I hardly think 1 minute gave you enough time to read through the post and visit the website to find out more about the coin. You'll be pleasantly surprised if you do!

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 01:33:00 AM
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nice story but you are just following what others are doing.

seems country coins are hyped now and this coin is just there to follow the hype, no exception.

any coin that makes me a profit.
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March 29, 2014, 01:36:51 AM
 #5

I believe that the X11 algo together with a traditional yet innovative (ironic, I know) method of distribution and a different purpose than the other national cryptocurrencies surely cannot be seen as merely "following the crowd". However, we will let the community judge that, as always.

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 01:37:41 AM
 #6

agree, you got my opinion. it might be picked up. it might not. good luck.

any coin that makes me a profit.
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March 29, 2014, 02:02:32 AM
 #7


I rarely comment on an ANN thread, but I like what I am reading.

However, buck the trend.
Introduce yourself and your company formally - especially since your biggest selling point is your media savvy and industry connections.
Outline in detail your planned distribution channel and A&P campaign.
If it's credible, you will be pleasantly surprised at the support you will receive.

"Politeness induces morality. Serenity of manners requires serenity of mind.” - Julia Ward Howe

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March 29, 2014, 02:04:03 AM
 #8

SCAM! all premined country coins are scam, do u research guys
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March 29, 2014, 05:30:47 AM
 #9

Ummmm... Who bears the cost of sending 150,000 registered posts?

Pinkcoin Donations Address ---> PINK: PB9TmJXZTqzLroz9cLzCQe2cNWzEwJeq5g | BTC: 14Yxxxxko19qtLi3k2yvtWQ54vSQg2mLjB <---
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March 29, 2014, 10:56:51 AM
 #10


I rarely comment on an ANN thread, but I like what I am reading.

However, buck the trend.
Introduce yourself and your company formally - especially since your biggest selling point is your media savvy and industry connections.
Outline in detail your planned distribution channel and A&P campaign.
If it's credible, you will be pleasantly surprised at the support you will receive.


Thank you. That's exactly what we will be doing after Muniti has been launched and miners get on board. We want to ensure that everything works out smoothly, starting off from the base and working ourselves upwards.

Ummmm... Who bears the cost of sending 150,000 registered posts?

As I explained in the distribution part, the Logistics will be funded through a very small part of the premine

Quote
The total number of coins will be 76000000. 32% of them will  be premined, i.e. 24320000. 1% of the pre-mine will be reserved for l-Istrina, which amounts to 243200 Muniti. That means 24076800 will be left.

According to the latest census, there are 153235 private households. Each household will be receiving 156 Muniti. That means that there will be 172140 Muniti left for Bounties and Logistics.

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 11:08:25 AM
 #11

another coin Cry

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March 29, 2014, 11:31:59 AM
 #12

another coin Cry

Right you are!

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 11:34:00 AM
 #13

SCAM! all premined country coins are scam
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March 29, 2014, 11:39:20 AM
 #14

SCAM! all premined country coins are scam

This is why this thread is not self-moderated. Everyone's entitled to their own personal opinion. We will let our actions do the talking.

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 02:41:30 PM
 #15

Ummmm... Who bears the cost of sending 150,000 registered posts?

As I explained in the distribution part, the Logistics will be funded through a very small part of the premine

Quote
The total number of coins will be 76000000. 32% of them will  be premined, i.e. 24320000. 1% of the pre-mine will be reserved for l-Istrina, which amounts to 243200 Muniti. That means 24076800 will be left.

According to the latest census, there are 153235 private households. Each household will be receiving 156 Muniti. That means that there will be 172140 Muniti left for Bounties and Logistics.


How is that going to even work?

1. A registered mail costs EUR 1.16. So for 150,000 mails, it could cost about 175,000 EUR.
2. Mass printing of the paper wallets along with instructions and envelope. Lets say, you could magically bring it down to 0.5 EUR each. So that's 75,000 EUR right there.
3. Labor. I don't even know how to calculate this one. I'm pretty sure it cannot be automated.... Is there a database of the 150,000 addresses that fell from the sky into your lap? And somebody's gotta stuff the envelope with the goodies right? Lets also assume this is all done through magic for free.

Of course im assuming the post office, stores and labor is not going to accept payment in muniti. So then essentially, the plan is going to cost 250,000 EUR and some magic. You would then need to dump ALL the premine and keep the value to a BTC value high enough to cash out BTC worth 250,000 EUR? Really? So you can post letters and distribute it to the people of Malta? Well then, that's one Interesting coin eh  Wink Especially when the math is not really adding up. But who cares... one does not question logistics with Santa Clause  Tongue

Pinkcoin Donations Address ---> PINK: PB9TmJXZTqzLroz9cLzCQe2cNWzEwJeq5g | BTC: 14Yxxxxko19qtLi3k2yvtWQ54vSQg2mLjB <---
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March 29, 2014, 03:05:42 PM
 #16

Ummmm... Who bears the cost of sending 150,000 registered posts?

As I explained in the distribution part, the Logistics will be funded through a very small part of the premine

Quote
The total number of coins will be 76000000. 32% of them will  be premined, i.e. 24320000. 1% of the pre-mine will be reserved for l-Istrina, which amounts to 243200 Muniti. That means 24076800 will be left.

According to the latest census, there are 153235 private households. Each household will be receiving 156 Muniti. That means that there will be 172140 Muniti left for Bounties and Logistics.


How is that going to even work?

1. A registered mail costs EUR 1.16. So for 150,000 mails, it could cost about 175,000 EUR.
2. Mass printing of the paper wallets along with instructions and envelope. Lets say, you could magically bring it down to 0.5 EUR each. So that's 75,000 EUR right there.
3. Labor. I don't even know how to calculate this one. I'm pretty sure it cannot be automated.... Is there a database of the 150,000 addresses that fell from the sky into your lap? And somebody's gotta stuff the envelope with the goodies right? Lets also assume this is all done through magic for free.

Of course im assuming the post office, stores and labor is not going to accept payment in muniti. So then essentially, the plan is going to cost 250,000 EUR and some magic. You would then need to dump ALL the premine and keep the value to a BTC value high enough to cash out BTC worth 250,000 EUR? Really? So you can post letters and distribute it to the people of Malta? Well then, that's one Interesting coin eh  Wink Especially when the math is not really adding up. But who cares... one does not question logistics with Santa Clause  Tongue

First of all, registered mail does not cost that much over here. It costs 47c. That amounts to 70,500 euro. Our local postage company, Maltapost, offers subsidised rates for bulk mail, so that would bring the cost further down. The cost of printing is around that amount, so that one is correct. The database of addresses is freely available from the Maltapost site, without revealing the residents of each house. I stated that we would be distributing to each household, not to each person. So the cost is closer to ~130,000 EUR rather than your stated amount.

As also stated further up in this thread, the details of our company will be revealed after everything is in place and stability is ensured. If you have any other questions, please feel free to ask.

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 04:19:40 PM
 #17

We are pleased to announce the first pool to offer Muniti right at the launch - BitEmber!


[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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March 29, 2014, 04:19:59 PM
 #18

Bitember will be working on a pool for this coin  Smiley

AMBROSUS

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......................................`.-://███████████//::-.`......................................


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March 29, 2014, 04:21:29 PM
 #19

Ummmm... Who bears the cost of sending 150,000 registered posts?

As I explained in the distribution part, the Logistics will be funded through a very small part of the premine

Quote
The total number of coins will be 76000000. 32% of them will  be premined, i.e. 24320000. 1% of the pre-mine will be reserved for l-Istrina, which amounts to 243200 Muniti. That means 24076800 will be left.

According to the latest census, there are 153235 private households. Each household will be receiving 156 Muniti. That means that there will be 172140 Muniti left for Bounties and Logistics.


How is that going to even work?

1. A registered mail costs EUR 1.16. So for 150,000 mails, it could cost about 175,000 EUR.
2. Mass printing of the paper wallets along with instructions and envelope. Lets say, you could magically bring it down to 0.5 EUR each. So that's 75,000 EUR right there.
3. Labor. I don't even know how to calculate this one. I'm pretty sure it cannot be automated.... Is there a database of the 150,000 addresses that fell from the sky into your lap? And somebody's gotta stuff the envelope with the goodies right? Lets also assume this is all done through magic for free.

Of course im assuming the post office, stores and labor is not going to accept payment in muniti. So then essentially, the plan is going to cost 250,000 EUR and some magic. You would then need to dump ALL the premine and keep the value to a BTC value high enough to cash out BTC worth 250,000 EUR? Really? So you can post letters and distribute it to the people of Malta? Well then, that's one Interesting coin eh  Wink Especially when the math is not really adding up. But who cares... one does not question logistics with Santa Clause  Tongue

First of all, registered mail does not cost that much over here. It costs 47c. That amounts to 70,500 euro. Our local postage company, Maltapost, offers subsidised rates for bulk mail, so that would bring the cost further down. The cost of printing is around that amount, so that one is correct. The database of addresses is freely available from the Maltapost site, without revealing the residents of each house. I stated that we would be distributing to each household, not to each person. So the cost is closer to ~130,000 EUR rather than your stated amount.

As also stated further up in this thread, the details of our company will be revealed after everything is in place and stability is ensured. If you have any other questions, please feel free to ask.

The website says the cost of registered post is .90 EUR + .26 EUR (regular post charge). But you could be right.... I don't live in Malta. And now that I saw you mentioned the premine is going to be split into three "land drops", does that mean three times the postal charge, printing and labor costs? Don't you think that's a bit insane? And its very evident that even you selling the coins for the EUR is going to make the coin worthless for other investors and miners, so what's the incentive? But more importantly, you still haven't addressed the elephant in the room... what about the labor costs involved?

Pinkcoin Donations Address ---> PINK: PB9TmJXZTqzLroz9cLzCQe2cNWzEwJeq5g | BTC: 14Yxxxxko19qtLi3k2yvtWQ54vSQg2mLjB <---
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radi324
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March 29, 2014, 06:27:24 PM
 #20

Ummmm... Who bears the cost of sending 150,000 registered posts?

As I explained in the distribution part, the Logistics will be funded through a very small part of the premine

Quote
The total number of coins will be 76000000. 32% of them will  be premined, i.e. 24320000. 1% of the pre-mine will be reserved for l-Istrina, which amounts to 243200 Muniti. That means 24076800 will be left.

According to the latest census, there are 153235 private households. Each household will be receiving 156 Muniti. That means that there will be 172140 Muniti left for Bounties and Logistics.


How is that going to even work?

1. A registered mail costs EUR 1.16. So for 150,000 mails, it could cost about 175,000 EUR.
2. Mass printing of the paper wallets along with instructions and envelope. Lets say, you could magically bring it down to 0.5 EUR each. So that's 75,000 EUR right there.
3. Labor. I don't even know how to calculate this one. I'm pretty sure it cannot be automated.... Is there a database of the 150,000 addresses that fell from the sky into your lap? And somebody's gotta stuff the envelope with the goodies right? Lets also assume this is all done through magic for free.

Of course im assuming the post office, stores and labor is not going to accept payment in muniti. So then essentially, the plan is going to cost 250,000 EUR and some magic. You would then need to dump ALL the premine and keep the value to a BTC value high enough to cash out BTC worth 250,000 EUR? Really? So you can post letters and distribute it to the people of Malta? Well then, that's one Interesting coin eh  Wink Especially when the math is not really adding up. But who cares... one does not question logistics with Santa Clause  Tongue

First of all, registered mail does not cost that much over here. It costs 47c. That amounts to 70,500 euro. Our local postage company, Maltapost, offers subsidised rates for bulk mail, so that would bring the cost further down. The cost of printing is around that amount, so that one is correct. The database of addresses is freely available from the Maltapost site, without revealing the residents of each house. I stated that we would be distributing to each household, not to each person. So the cost is closer to ~130,000 EUR rather than your stated amount.

As also stated further up in this thread, the details of our company will be revealed after everything is in place and stability is ensured. If you have any other questions, please feel free to ask.

The website says the cost of registered post is .90 EUR + .26 EUR (regular post charge). But you could be right.... I don't live in Malta. And now that I saw you mentioned the premine is going to be split into three "land drops", does that mean three times the postal charge, printing and labor costs? Don't you think that's a bit insane? And its very evident that even you selling the coins for the EUR is going to make the coin worthless for other investors and miners, so what's the incentive? But more importantly, you still haven't addressed the elephant in the room... what about the labor costs involved?

Labour costs are covered already, as will be explained later on. Next point: I doubt that we'll go through all this trouble just to make this coin worthless. Next point: as for insanity... people thought Bitcoin was an insane concept. Aurora's airdrop was rumoured to be insane and impossible to conduct as well. So far, none of the two seem to be insane to me!

Bitember will be working on a pool for this coin  Smiley

Thanks filipe3x!

[MUN] Muniti - Malta's National Cryptocurrency - http://www.muniticoin.com/

Bitcointalk thread - https://bitcointalk.org/index.php?topic=545886.0
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