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

[coine_smithe]

It seems that at last our efforts got through - we are now on Poloniex as well! Thanks to all who kept persisting and sending ticket after ticket... that's one hurdle which has been passed, let us move on to the next challenges.

I have some thoughts on the exchange situation. Clearly nobody still interested in this coin cares about short term profits. Bittrex is run by 3 real proffesional guys that have shown their faces on the site. Bittrex has also had some really high volume coins lately that shows their exchange can handle it.

My theory is that once Maltese start getting their coins by D2D then it will create real world excitement. This is the first country coin to do this, and as we all know, novelty creates value in the crypto community right now. People like unique coins, and Muniti has a very unique quality to it. I say, that once the D2D starts, the coin will rise in value, and likely get added to Mintpal without having to pay the fee. That's just my theory.

In any case I don't think it's worth worrying about right now. Getting added to Poloniex wouldn't magically make this coin more valuable, it would only create a temporary pump and dump opportunity.

Finally, there are many country coins that have fallen in value steadily after distribution to citizens. If this coin could break that trend it would be great. Maybe starting from the bottom isn't so bad. If citizens see the value slowly climbing that could be very encouraging.

You're quite right coine_smithe, as it's something which has crossed our minds as well. If Muniti didn't achieve a stratospheric trading volume on Bittrex, there is no reason to believe it would on Poloniex. However, we wanted to get listed on Poloniex for two main reasons:
1. We had established a rapport with Poloniex and if we were so close to being added, it was worthwhile going for the last push
2. Getting listed on a big exchange is publicity in itself

Now that the exchange saga is settled, we can finally concentrate our full efforts on other things. We will be contacting souvenir shops for starters next Monday in order to see whether we can encourage them to adopt Muniti as a form of payment for online orders, for now.

Check out this link in the meantime:

http://womanitely.com/most-beautiful-island-countries-world/

Of course as soon as I spoke now we're on Poloniex. Hoorah!

[1715131143]

1715131143

[tf2honeybadger]

Hey guys! Poloniex Wallet Manager here. We just added Muniti to the exchange: https://poloniex.com/exchange/btc_mun
If you have any questions, please reach out to a moderator in the trollbox, or make a ticket here: http://poloniex.freshdesk.com/support/home


Happy trading!

[balsi]

Hey guys! Poloniex Wallet Manager here. We just added Muniti to the exchange: https://poloniex.com/exchange/btc_mun
If you have any questions, please reach out to a moderator in the trollbox, or make a ticket here: http://poloniex.freshdesk.com/support/home


Happy trading!

Thanks! Your the man tf2honeybadger!   

[radi324]

Hey guys! Poloniex Wallet Manager here. We just added Muniti to the exchange: https://poloniex.com/exchange/btc_mun
If you have any questions, please reach out to a moderator in the trollbox, or make a ticket here: http://poloniex.freshdesk.com/support/home


Happy trading!

Thanks tf2honeybadger, it's a pleasure to be working with you.

[Emmi-state]

Everyone is coming up with great ideas, please be sure to let Tofer know if and how you can

contribute to these projects

[Jen Ann4v]

I like this coin because you can get coins to for free and the wallet works great!

[richardn1987]

Haven't been here for a while. Do I need to update the wallet, it seems stuck?

[novag]

Good news! Polonex!

[richardn1987]

Ok, so I managed to sync the wallet by simply deleting all files and launching the wallet again with the previous wallet.dat file.

that worked

[Shavy]

This coin will be used for trading for real, as a true currency, not like other stock-like crypto, imagine in someday you can book a hotel, buy souvenirs, have good food and drinks, enjoy your vacation at one of the best island in the world, with just a digital wallet piled up with muniti, it would be extraordinary, I cant wait till my own trip to Malta, yeah.

[ol92]

Polonex for start ist to be good, lets wait.

Poloniex is a really bad exchange, it seems no one remembers anymore they got hacked, they took the stolen btc from their (remaining) traders and they are still having problems every second day with uptime

They are refunding the btc to the traders step by step and have been transparent with their hack. This is more than most others have done within similar situations.

On the other hand I agree that their site is slow now, and there is no much volume ... and I hate the catpcha authentification process.

For me it is a good step for muniti to be on this exchange. I have already sent a ticket to poloniex support and I will do it again.

What would you do if your bank comes and says "oh sorry, we're robbed.. We will deduct the robbed amount from your bank account and give it back to you once we have enough.. Thank you "

 

...

Well in some way, this is what happened in 2008 crisis except they didn't give it back to us... : governements gave money to save banks, then taxes increase (of course this is some excessive shortcut to present things in this way, but there is some truth)...
For poloniex, they made mistakes, but took responsability and made their best to compensate customers. I appreciate.

[radi324]

Hoping for a top finish for Malta in the Eurovision!

[reader31]

Hi radi

Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?

[dygus]

Hi radi

Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?

It's good idea.

[radi324]

Hi radi

Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?

PoS militates in favour of retention rather than spending. Also, PoS coins are much more difficult to market than PoW coins, which spread rapidly through the miners' network. There are two options:

1) Either wait for the value and trust in cryptocurrencies to rise again hence giving miners a bit of leeway and an incentive to hold coins rather than dump every single earning to break even on power costs
2) Transit to PoS

It's a bit of a "six from one half, a dozen from the other" sort of situation. We'll certainly discuss it in detail.

[Eastwind]

I would suggest distributing the MUN with PoW for a period, at least after the distributing it to the residents of Malta. Then make the decision to go to PoS or not.

In this way, MUN can reach more people and spread its influence.

[coine_smithe]

Please wait a while before going PoS so I can buy a bunch lol. The price would skyrocket. Is there any other PoS country coin? I'm not aware of any.

You would have to increase block rewards though to reach the 76 million or else the premine % would change.

Just make it 1% stake or something. That's enough to make people have full nodes but not enough to stifle the market. Tourists aren't going to care if they could get an extra 1% over the course of a year if their purpose is to spend it during their 1 week trip or whatever. Plus it will reward Maltese citizens and those who have a stake in the Maltese economy so they will get the most stake rewards.

[YBC]

How hard would it be to design something like this, 'PoL' (proof of location)

You divide Malta up into say 10,000 square grids, each with their own gps point. Then in a similar fashion to foursquare you 'check in' at one gps point by staying there for a few seconds with a phone app. Then all the coins are divided up to those in the proportion of how many square grids they 'own'. This would get people out and around exploring the less travelled bits of Malta and allow anyone, even those without mining equipment or large share to start with, to get involved.

[CryptoJack]

What a bunch of great IDEAs! Seems the discussion is going to a real innovative kind of coin. Keep innovating!

[novag]

Its good idea - Pos!!!