[ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Multi-algo soon

[novag]

Where is Radi, he is tossed the coin?

[1715418864]

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[1715418864]

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[YBC]

Where is Radi, he is tossed the coin?

I guess so - on his message history he is actively posting on other coins but not muniti

[balu2]

I think someone tried to pump it on bittrex today - 10x price rise then fell back down

we need to build up that buysupport little by little. crazy buy-in is not good right now. maybe later when ltc turns.

[novag]

I think someone tried to pump it on bittrex today - 10x price rise then fell back down

we need to build up that buysupport little by little. crazy buy-in is not good right now. maybe later when ltc turns.

If d2d frozen or dead, nothing will help.

[balu2]

I think someone tried to pump it on bittrex today - 10x price rise then fell back down

we need to build up that buysupport little by little. crazy buy-in is not good right now. maybe later when ltc turns.

If d2d frozen or dead, nothing will help.

what do you mean with that? I don't understand. Spreading negativity is not needed.

[novag]

I think someone tried to pump it on bittrex today - 10x price rise then fell back down

we need to build up that buysupport little by little. crazy buy-in is not good right now. maybe later when ltc turns.

If d2d frozen or dead, nothing will help.

what do you mean with that? I don't understand. Spreading negativity is not needed.

I mean, we wait for positive news from devs, and hope and belive in good!

[radi324]

I apologise for the lack of updates; it has been a hectic week for various reasons, most of them personal, and I had to take a step back and leave the running of affairs in the hands of the rest of the team. I'm only posting a quick update from my mobile phone as I am currently abroad. 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. The implementation of multi-algo however remains dependent on the value of MUN once the first phase of D2D has ended. We're currently several thousands of Euro out of pocket and while that was to be expected, it's certainly no fun. I'll update the topic title and ask one of the members to issue the multi-algo news on Twitter and on the website.

[novag]

I apologise for the lack of updates; it has been a hectic week for various reasons, most of them personal, and I had to take a step back and leave the running of affairs in the hands of the rest of the team. I'm only posting a quick update from my mobile phone as I am currently abroad. 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. The implementation of multi-algo however remains dependent on the value of MUN once the first phase of D2D has ended. We're currently several thousands of Euro out of pocket and while that was to be expected, it's certainly no fun. I'll update the topic title and ask one of the members to issue the multi-algo news on Twitter and on the website.

At last good news!


So that's why Radi was in discussions on branch MYR, this idea is very good, but only technically implementation may not be so simple. But if everything is done MUN just fly to the moon!

[cryptoface]

I apologise for the lack of updates; it has been a hectic week for various reasons, most of them personal, and I had to take a step back and leave the running of affairs in the hands of the rest of the team. I'm only posting a quick update from my mobile phone as I am currently abroad. 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. The implementation of multi-algo however remains dependent on the value of MUN once the first phase of D2D has ended. We're currently several thousands of Euro out of pocket and while that was to be expected, it's certainly no fun. I'll update the topic title and ask one of the members to issue the multi-algo news on Twitter and on the website.

thanks for the update, and that multi algo would be great! but why are you ignoring the request of the community to show us some proof off the d2d, just send us a few photos so we can see it is actually started and then we can use those photos to spread the good news of the d2d on twitter.

[Eastwind]

thanks for the update, and that multi algo would be great! but why are you ignoring the request of the community to show us some proof off the d2d, just send us a few photos so we can see it is actually started and then we can use those photos to spread the good news of the d2d on twitter.

Maybe because he is out of the country at the moment. I hope Rad can ask his team to send him a few pictures.

[YBC]

What address is the Premine in? I want to check

extract from the first post :
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.

I don't think those addresses line up with this?

http://chainz.cryptoid.info/mun/#!rich

The total of the top 5 addresses is additively what I would expect for all the premine. At first I was thinking 2 of those would have to be poloniex and bittrex - but maybe they spread out over smaller wallets for safety.

#1, #2 and #3 on the richlist are definitely coins from the premine, you can trace their transactions (from block 53553) all the way back to block 1.

http://chainz.cryptoid.info/mun/address.dws?mcgeM2eL2XrgpG9K4nCeqvTHf9KXAiidNT.htm receives the 24,334,133 million coins in block 1.
In block 422 almost all are transferred to http://chainz.cryptoid.info/mun/address.dws?mVZDni44JhVnhkKu26TE3Q98uRPrC2Waiq.htm
In block 1050 they are transferred to http://chainz.cryptoid.info/mun/address.dws?meN5b73QegEppQmwCx9fcNv4TmQTy8bGh9.htm
In block 2068 they are transferred to http://chainz.cryptoid.info/mun/address.dws?mbU4opnpyG5NoPShxCLJawbdzUPKbnnTqw.htm
In block 2070 they are split as ~7M to http://chainz.cryptoid.info/mun/address.dws?mWuwabhbmNHyYNLbQ8pzYfnFymHm5JicXf.htm and ~17M to http://chainz.cryptoid.info/mun/address.dws?mW3ou5vELkqTHs7tvQJYm66rE9u42QPy5n.htm

The address receiving the 7M is one that had been regularly mining, by the look of it.
In block 22297 the 7M transfers to http://chainz.cryptoid.info/mun/address.dws?mYx67d6MCrkbtDeRZHPj6rpWoedmWDFwFb.htm then in block 53373 to http://chainz.cryptoid.info/mun/address.dws?mX99GbGrNxaVDseC6oA1Rkzwi5Mo2bFroP.htm, then in block 53553 (now down to 6M) to http://chainz.cryptoid.info/mun/address.dws?mZXUsuy8SkrtjD5QcKgnvRJ49YPhmzcG9U.htm and in the same block (now down to 5.5M) to http://chainz.cryptoid.info/mun/address.dws?mW15iv1mMh5kN3n2JjPndUXxt6jF1mHv8Z.htm (#2). Basically 500k was split off at each point.

The ~17M was transferred in block 22294 (now down to 16.5M) to http://chainz.cryptoid.info/mun/address.dws?mTtrqAooKh44qSd8G5nQbyZNrVmgzkRFCk.htm (#1)
#3 is formed by funds split off from the movements above.

This all looks like reasonable preparation for coin distribution, breaking the premine down into smaller amount to divide between areas/people.

@balu

so it's adresses on place #1-#4 on the richlist, yes?  I was calulculating from the ann 76mio coins total the premine for distribution (32%) is 24,3 million
wallet #1 to #4 combined are holding roughly that. Maybe not a bad idea to show those adresses directly in the ann and be transparent with regular updates hoch much has been distributed already and in what way exactly. The better the transparency and accounting for with the premine the more trust you will have in the end of the day.

I am confused.... if addresses #1-#4 are the premine... and the D2D distribution has already started, surely sum of 1-4 should be significantly less than 32%? More like 24%?

[griffitsj]

Come on the price is tanking.  Let's see some pictures of the D2D in Malta - surely someone has a mobile phone with a camera.

[novag]

Difficulf is grow up, then prise was up!

[axsdf]

On a related note, another prominent Maltese magazine published an article about it.

[griffitsj]

On a related note, another prominent Maltese magazine published an article about it.

Can you provide more details - like the name of the magazine, or even better a url or scanned image.  That would be great

[fairglu]

Let's see some pictures of the D2D in Malta - surely someone has a mobile phone with a camera.

Pictures are what made this coin/thread different from the myriad others, would be nice to get more!

[YBC]

Any news from anyone, or evidence of D2D? Why are 90% of all coins in the top 4 addresses if they should have already been distributed?

http://chainz.cryptoid.info/mun/#!rich

[novag]

Any news from anyone, or evidence of D2D? Why are 90% of all coins in the top 4 addresses if they should have already been distributed?

http://chainz.cryptoid.info/mun/#!rich

Good question, wait answer from Radi!

[griffitsj]

The OP gives the wallet address of the first distribution.  The balance of that wallet is zero and the transactions show it has been split up into lots of small chunks of 24mun.  Looks ok to me from a short glance.

[Eastwind]

Any news from anyone, or evidence of D2D? Why are 90% of all coins in the top 4 addresses if they should have already been distributed?

http://chainz.cryptoid.info/mun/#!rich

Good question, wait answer from Radi!

It is a staged distribution. It will take many months. So most the coins should still be in the known wallets.

From the OP
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.