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

[radi324]

where did I see that website design before?
Aah here http://www.ournem.com/

Interesting, looks like we chose the same website developer! Good to see our website is better kept though. Thanks for pointing that out gaazje

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[coine_smithe]

I like your quick replies, X11 algo, good attitude, and distribution plan. Mail seems a little cumbersome but I like that you aren't trying to fool anyone into thinking something like Facebook verification is realistic. I'm considering mining this.

[sonysasankan]

Really? Like sending 150,000 x 3 = 450,000 registered posts by mail (costing over 300,000 USD) is more realistic than facebook verification? And that money is going to come from the "premine"? I cant wait for it to launch and study this case

[coine_smithe]

Really? Like sending 150,000 x 3 = 450,000 registered posts by mail (costing over 300,000 USD) is more realistic than facebook verification? And that money is going to come from the "premine"? I cant wait for it to launch and study this case

Facebook verification can be faked. Yes this is a huge undertaking but honestly to me this is the most reasonable approach I've seen so far. The only way you're going to get 100% verifiable proof of residency online is if a government created their own currency and set up a system for people to register in person.

[gpuminer]

Maybe there should be a huge bounty for getting one of Malta hotel to accept this coin for booking their overnight stay.

[sonysasankan]

Really? Like sending 150,000 x 3 = 450,000 registered posts by mail (costing over 300,000 USD) is more realistic than facebook verification? And that money is going to come from the "premine"? I cant wait for it to launch and study this case

Facebook verification can be faked. Yes this is a huge undertaking but honestly to me this is the most reasonable approach I've seen so far. The only way you're going to get 100% verifiable proof of residency online is if a government created their own currency and set up a system for people to register in person.

LOL.... give me 300,000 USD, I will fly down to Malta and personally get signed delivery proof from everyone there

[coine_smithe]

Really? Like sending 150,000 x 3 = 450,000 registered posts by mail (costing over 300,000 USD) is more realistic than facebook verification? And that money is going to come from the "premine"? I cant wait for it to launch and study this case

Facebook verification can be faked. Yes this is a huge undertaking but honestly to me this is the most reasonable approach I've seen so far. The only way you're going to get 100% verifiable proof of residency online is if a government created their own currency and set up a system for people to register in person.

LOL.... give me 300,000 USD, I will fly down to Malta and personally get signed delivery proof from everyone there

I'm not sure what your point is.

[lumeire]

Really? Like sending 150,000 x 3 = 450,000 registered posts by mail (costing over 300,000 USD) is more realistic than facebook verification? And that money is going to come from the "premine"? I cant wait for it to launch and study this case

Anything can be faked, besides, how about non-facebook users? (I don't use facebook)

I was looking for an X11 launch, it's now really hot here in my country. I will be mining this

[MisO69]

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

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  Especially when the math is not really adding up. But who cares... one does not question logistics with Santa Clause 

 ^ That.

Impossible to distribute country coins properly. PoW is the only fair way.

[Emerald]

i never mine x11 algo what miner software?

[coine_smithe]

i never mine x11 algo what miner software?

go to http://sgminerwindows.com/ and download sph sgminer. Also to use it I found I had to turn down the clocks and memory quite a bit and your hashrate is about half of scrypt. I'll try and post some settings soon.

[Vann]

i never mine x11 algo what miner software?

The best miner is sph-sgminer:

https://bitcointalk.org/index.php?topic=475795.0

Code:

@ECHO off
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1
CLS
COLOR 20
CD C:\MINERS\DarkCoin-SPH-SGMiner\
DEL *.bin
C:\MINERS\DarkCoin-SPH-SGMiner\sgminer.exe -k darkcoin -o http:/127.0.0.1:3335 -u USER -p PASSWORD

or Config file:

Code:

@ECHO off
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1
CLS
COLOR 20
CD C:\MINERS\DarkCoin-SPH-SGMiner\
DEL *.bin
C:\MINERS\DarkCoin-SPH-SGMiner\sgminer.exe --config C:\MINERS\DarkCoin-SPH-SGMiner\x11coin_mining.conf

Code:

{
"pools" : [
	    {
                    "poolname" : "SOLO",
		    "url" : "http://127.0.0.1:3335",
		    "user" : "USER",
		    "pass" : "PASSWORD"
	    },
	    {
                    "poolname" : "FAILOVER_POOL_1",
		    "url" : "stratum+tcp://POOL_1:3366",
		    "user" : "USER.WORKER",
		    "pass" : "PASSWORDl"
	    }
],

"intensity" : "12",
"vectors" : "1",
"worksize" : "256",
"kernel" : "darkcoin",
"lookup-gap" : "0",
"thread-concurrency" : "8196",
"shaders" : "0",
"gpu-engine" : "1207",
"gpu-fan" : "100",
"gpu-memclock" : "1500",
"gpu-memdiff" : "0",
"gpu-powertune" : "0",
"gpu-vddc" : "0.000",
"temp-cutoff" : "88",
"temp-overheat" : "85",
"temp-target" : "75",
"api-mcast-port" : "4028",
"api-port" : "4028",
"auto-fan" : true,
"expiry" : "1",
"failover-only" : true,
"gpu-dyninterval": "7",
"gpu-platform" : "0",
"gpu-threads" : "2",
"hotplug" : "0",
"log" : "5",
"no-pool-disable" : true,
"queue" : "0",
"scan-time" : "1",
"temp-hysteresis" : "3",
"shares" : "0",
"kernel-path" : "/usr/local/bin"
}

[coine_smithe]

Really? Like sending 150,000 x 3 = 450,000 registered posts by mail (costing over 300,000 USD) is more realistic than facebook verification? And that money is going to come from the "premine"? I cant wait for it to launch and study this case

Facebook verification can be faked. Yes this is a huge undertaking but honestly to me this is the most reasonable approach I've seen so far. The only way you're going to get 100% verifiable proof of residency online is if a government created their own currency and set up a system for people to register in person.

"Only" is a strong word and I should add to my statement. I think this could be achieved through digital ID cards issued by the government either specifically for claiming cryptocurrencies or already existing digital IDs that can be verified over the internet for that purpose without being created for that purpose initially.

Also a company could achieve this if trusted by the public or customers, or in the spirit of the community that has already formed around cryptocurrencies a crowd funding effort might be able to achieve something depending on the size of the backing, although this is unlikely to work unless a very prominent figure or group that has the trust of the community spearheads the effort.

TLDR: For now I think the Muniti solution is very reasonable for a small nation. It should be a very interesting test case, and possibly the most successful country coin thus far.

[vlax352]

MUN coin pool http://benchcryptopools.myvnc.com/muniti/public/  , preregistrations open!

[radi324]

I like your quick replies, X11 algo, good attitude, and distribution plan. Mail seems a little cumbersome but I like that you aren't trying to fool anyone into thinking something like Facebook verification is realistic. I'm considering mining this.

Thanks, we look forward to having you join us at the launch.

Really? Like sending 150,000 x 3 = 450,000 registered posts by mail (costing over 300,000 USD) is more realistic than facebook verification? And that money is going to come from the "premine"? I cant wait for it to launch and study this case

We have taken your criticism into consideration and we are trying to work on a solution for what you have pointed out. The costs won't be as elevated as you are making out, but they will be considerable nonetheless; if we can save money in any way we can while keeping the same level of quality, it's a no-brainer. However, right now we simply have our hands full with the upcoming launch, and we want to tackle one point at a time.

Maybe there should be a huge bounty for getting one of Malta hotel to accept this coin for booking their overnight stay.

As we pointed out in the OP, we will not be giving bounties to entities who would profit from adopting Muniti, as it beats the purpose of bounties in our humble opinion. Should a hotel wish to adopt Muniti as an accepted currency, we would be more than happy to give them our fullest support. However, bounties are and will remain reserved for individuals who help out from their own free will without gaining any noticeable profit out of it.

i never mine x11 algo what miner software?

Please check the Downloads section on our site and download the CPU/GPU miner of your choice.

MUN coin pool http://benchcryptopools.myvnc.com/muniti/public/  , preregistrations open!

Thanks! Added to the OP.

[ursidae1]

I have started mining a x11 coin for 2 days now.
I have to say that it is magical compared to scrypt.
Temps have gone down by 15C.
Electricity consumption is about half.
Hashrate is more than x3.
I use an Asus R9 290X 4GD5 and get 2.732 Mh/s with rejects between 0.6% and 0.9%.
X11 is most definitely the current best option.
Waiting for the launch to start mining this coin.
Good luck to all.

[Croak]

Here's a suggestion on how to distribute Muniti.  

Travel around to the village feasts this summer, work with the church, work with the local councils, work with the Community Chest Fund, work with both parties, work with the big hospitality players (hell, Hugo alone could put you on the map regarding tourism).  Plan to give part of the premine away to tourists...hotels handing out paper wallets with checkins, or boat tours doing the same, etc, just as advertising.

But the main idea to set up a booth at the feasts and give out paper wallets on the spot.  Bring a laptop or tablet with wireless, record names or ID numbers and check them for double dipping (there will be some regardless).  It will be hot long days, it will be dealing with queues, but it'll be both cheaper and maybe less time consuming overall than a mass mailing, and most importantly, it'll be VISIBLE.  First few attempts will probably suck until you get a process down, and with overlapping feast days you'll need more than one team.  Bounty volunteers.  This is Malta, there's real community here.

Maybe have a final distribution in Valletta during Science Week, same routine.

That'll get the coin out to the Maltese, but it'll also increase legitimacy with the people that you want accepting the coin.  From there you can get tours and hotels and restaurants and dive shops to offer packages or discounts on prepaid Muniti transactions and you've got something...I wouldn't get hung up on point of sale transactions, but if they can accept the coin AND cash it out to BTC and then Euro and put it in a fiat account via SEPA without too much fuss, it'll work.  Kraken comes to mind.

[madmartyk]

That is a very big IF!!  Problem is, for the average person, how do they turn this wallet into a loaf of bread?  Merchants are not going to wait around for 6 confs to get paid.  Sorry, the whole idea of country coins to me is a huge scam for the DEVs to make money!!!

[Croak]

That is a very big IF!!  Problem is, for the average person, how do they turn this wallet into a loaf of bread?  Merchants are not going to wait around for 6 confs to get paid.  Sorry, the whole idea of country coins to me is a huge scam for the DEVs to make money!!!

Thing is, this isn't to rescue poor starving Maltese (there aren't many, if any, just like there aren't many hungry, homeless Icelanders).  It's to promote tourism, a market where you don't need to worry about 6 confirms, since most stuff is booked months in advance, and to help fund a popular, successful charity that does take care of the unfortunate.

Nobody should be needing to use it to buy bread, or a pack of fags, or anything immediate retail. 

[madmartyk]

When why have this at all?  Wouldn't the people of Malta support their own tourism already?  I have friends who live in Malta and they seem to do quite well without crypto.  Again, what is this going to accomplish other than being another pump and dump coin?