[ANN][MIN] Minerals - POS | Developing own anon solution |

[powersup]

Guys,
I would like to confirm that Minerals is affiliated with pool.mn. Pool.mn helped with setting up the pools, implementing limits and tweaking stratum. The idea was to keep the two projects unaffiliated until after the end of the POW stage, as we were concerned about potential attacks from other pools (which actually did happen even without the knowledge of this affiliation (read the first couple of pages)). The guy from pool.mn was supposed to monitor the thread and reply to any issues with the pools, however he exposed his identity.

1. Regarding mining – I’ve been saying this from the very beginning: there is no mining outside 6 pools and accusations that pool.mn or someone else is mining on their own is easy to check by looking at the block explorer and which addresses are credited for newly found blocks (the links are in the OP).

2. The idea behind the Minerals is to show that without competition among pools it is possible achieve fairer mining that is much less vulnerable to network (ASICs) and/or DDoS attacks. Moreover, pool ops do not add much value, if any, to the coin development and I hope that future coin devs and communities will start to think about this. I think that we showed for future coin devs how to avoid premine/instamine and IPOs and yet still keep the interest in their coin by running pools and collecting standard fees. Actually, the cost of running these pools is lower because:

a) there is no need for DDoS protection as there is no competition  
b) there are no other coins on the same server which lowers the hardware requirements
c) for coins with limited POW stage the hardware is required only during the POW stage, which is often quite short nowadays

Stratum modifications will be uploaded to github so that anyone can use it in the future.

3. Pool.mn agreed to help as they share the above beliefs and I think they will offer their help as a service for future coin devs. Of course, any other pool op could offer the same service and I hope that crypto-community will move toward less fees/instamine/premine.

+ fucking 1

Now can we keep the FUD to a minimum please, and keep mining more minerals!

[PhattyBanks]

Code:

[2:14am] <psorano> <bittrex-bill> do you plan on adding minerals?
[2:15am] <bittrex-bill> psorano: as of right now, we dnt plan on it
[2:15am] <bittrex-bill> minerals is an interesting concept but it violates our principle of open source wallets
[2:15am] <bittrex-bill> they were willing to give us the source but i think the community needs to read and review the code
[2:16am] <bittrex-bill> we're willing to reconsider based on feedback from the community.
[2:16am] <psorano> *dumps bag on ccex*
[2:17am] <bittrex-bill> but imagine if someone decides to bash the mineral thread, no one will be able to independantly verify one way or the other.
[2:19am] <bittrex-bill> the other reason were not willing to launch it yet is that all of the pools are under their control. they can 51% attack us at any time
[2:19am] <bittrex-bill> i have no evidence that why would. the mineral coins have been very transparent with us up to this point. but its a definite worry

[shadow3277]

Code:

[2:14am] <psorano> <bittrex-bill> do you plan on adding minerals?
[2:15am] <bittrex-bill> psorano: as of right now, we dnt plan on it
[2:15am] <bittrex-bill> minerals is an interesting concept but it violates our principle of open source wallets
[2:15am] <bittrex-bill> they were willing to give us the source but i think the community needs to read and review the code
[2:16am] <bittrex-bill> we're willing to reconsider based on feedback from the community.
[2:16am] <psorano> *dumps bag on ccex*
[2:17am] <bittrex-bill> but imagine if someone decides to bash the mineral thread, no one will be able to independantly verify one way or the other.
[2:19am] <bittrex-bill> the other reason were not willing to launch it yet is that all of the pools are under their control. they can 51% attack us at any time
[2:19am] <bittrex-bill> i have no evidence that why would. the mineral coins have been very transparent with us up to this point. but its a definite worry

The dev already stated that Bittrex would not do anything until after POW is over.

[komodovpn]

when PoW is over, wallet and source will be released to everyone, then bittrex and other exchanges won't have any issues adding minerals.

it's simply guys, just be patient and mine.

[twhh]

Code:

[2:14am] <psorano> <bittrex-bill> do you plan on adding minerals?
[2:15am] <bittrex-bill> psorano: as of right now, we dnt plan on it
[2:15am] <bittrex-bill> minerals is an interesting concept but it violates our principle of open source wallets
[2:15am] <bittrex-bill> they were willing to give us the source but i think the community needs to read and review the code
[2:16am] <bittrex-bill> we're willing to reconsider based on feedback from the community.
[2:16am] <psorano> *dumps bag on ccex*
[2:17am] <bittrex-bill> but imagine if someone decides to bash the mineral thread, no one will be able to independantly verify one way or the other.
[2:19am] <bittrex-bill> the other reason were not willing to launch it yet is that all of the pools are under their control. they can 51% attack us at any time
[2:19am] <bittrex-bill> i have no evidence that why would. the mineral coins have been very transparent with us up to this point. but its a definite worry

The dev already stated that Bittrex would not do anything until after POW is over.

This coin probably is a scam 

Beware , like Honorcoin

[Amph]

Code:

[2:14am] <psorano> <bittrex-bill> do you plan on adding minerals?
[2:15am] <bittrex-bill> psorano: as of right now, we dnt plan on it
[2:15am] <bittrex-bill> minerals is an interesting concept but it violates our principle of open source wallets
[2:15am] <bittrex-bill> they were willing to give us the source but i think the community needs to read and review the code
[2:16am] <bittrex-bill> we're willing to reconsider based on feedback from the community.
[2:16am] <psorano> *dumps bag on ccex*
[2:17am] <bittrex-bill> but imagine if someone decides to bash the mineral thread, no one will be able to independantly verify one way or the other.
[2:19am] <bittrex-bill> the other reason were not willing to launch it yet is that all of the pools are under their control. they can 51% attack us at any time
[2:19am] <bittrex-bill> i have no evidence that why would. the mineral coins have been very transparent with us up to this point. but its a definite worry

The dev already stated that Bittrex would not do anything until after POW is over.

This coin probably is a scam 

Beware , like Honorcoin

i keeps hearing this crap about honorcoin, here and there

so now every coin is like honorcoin?

[shadow3277]

Code:

[2:14am] <psorano> <bittrex-bill> do you plan on adding minerals?
[2:15am] <bittrex-bill> psorano: as of right now, we dnt plan on it
[2:15am] <bittrex-bill> minerals is an interesting concept but it violates our principle of open source wallets
[2:15am] <bittrex-bill> they were willing to give us the source but i think the community needs to read and review the code
[2:16am] <bittrex-bill> we're willing to reconsider based on feedback from the community.
[2:16am] <psorano> *dumps bag on ccex*
[2:17am] <bittrex-bill> but imagine if someone decides to bash the mineral thread, no one will be able to independantly verify one way or the other.
[2:19am] <bittrex-bill> the other reason were not willing to launch it yet is that all of the pools are under their control. they can 51% attack us at any time
[2:19am] <bittrex-bill> i have no evidence that why would. the mineral coins have been very transparent with us up to this point. but its a definite worry

The dev already stated that Bittrex would not do anything until after POW is over.

This coin probably is a scam 

Beware , like Honorcoin

For fuck's sake. What an asinine post.

[Stormbringer]

I bought a few at C-Cex. Wonder why people care to mine when they just dump it so low?

It's at a level now, where I wonder if I would make more if I mined some other coin and bought Minerals for that instead.

I wonder the same question...

Hm, I wonder if we should set up Minerals multipool now so that people can arbitrage this away.

Why it is that price of coins go up after they have multipool?
Now teslacoin's price is jumped after they announce multipool.

[Minerals]

Multipool is creating demand on the market by making buy orders. We are still working on it, hopefully the multipool will be ready today.

[ChekaZ]

Would be great to see Minerals on a bigger exchange, wanna dump mine :b

[ZacharyComstock]

I don't know if I want to dump my minerals when Bittrex lists the coin. I feel like it has bigger future. I was lucky enogh to buy some Minerals at ~320-330 sats and now I can hope for a nice profit when Mintpal lists Minerals   353 sats per MIN doesn't look much either, considering if I should dump some other coins and buy more while I still can..  

[Stormbringer]

From the beginning it was all clean with this coin, I don't see dev lied to us anything about the coin,
it is something that differs from most of the other coins.

[Hoshimaru]

Guys,
I would like to confirm that Minerals is affiliated with pool.mn. Pool.mn helped with setting up the pools, implementing limits and tweaking stratum. The idea was to keep the two projects unaffiliated until after the end of the POW stage, as we were concerned about potential attacks from other pools (which actually did happen even without the knowledge of this affiliation (read the first couple of pages)). The guy from pool.mn was supposed to monitor the thread and reply to any issues with the pools, however he exposed his identity.

1. Regarding mining – I’ve been saying this from the very beginning: there is no mining outside 6 pools and accusations that pool.mn or someone else is mining on their own is easy to check by looking at the block explorer and which addresses are credited for newly found blocks (the links are in the OP).

2. The idea behind the Minerals is to show that without competition among pools it is possible achieve fairer mining that is much less vulnerable to network (ASICs) and/or DDoS attacks. Moreover, pool ops do not add much value, if any, to the coin development and I hope that future coin devs and communities will start to think about this. I think that we showed for future coin devs how to avoid premine/instamine and IPOs and yet still keep the interest in their coin by running pools and collecting standard fees. Actually, the cost of running these pools is lower because:

a) there is no need for DDoS protection as there is no competition  
b) there are no other coins on the same server which lowers the hardware requirements
c) for coins with limited POW stage the hardware is required only during the POW stage, which is often quite short nowadays

Stratum modifications will be uploaded to github so that anyone can use it in the future.

3. Pool.mn agreed to help as they share the above beliefs and I think they will offer their help as a service for future coin devs. Of course, any other pool op could offer the same service and I hope that crypto-community will move toward less fees/instamine/premine.

Thanks for clearing up things, so now everyone can calm down and keep mining

Thank you for clarifying
Still mining Minerals and happy I didn't quit just because of the fud and some doubts.

[shadow3277]

Guys,
I would like to confirm that Minerals is affiliated with pool.mn. Pool.mn helped with setting up the pools, implementing limits and tweaking stratum. The idea was to keep the two projects unaffiliated until after the end of the POW stage, as we were concerned about potential attacks from other pools (which actually did happen even without the knowledge of this affiliation (read the first couple of pages)). The guy from pool.mn was supposed to monitor the thread and reply to any issues with the pools, however he exposed his identity.

1. Regarding mining – I’ve been saying this from the very beginning: there is no mining outside 6 pools and accusations that pool.mn or someone else is mining on their own is easy to check by looking at the block explorer and which addresses are credited for newly found blocks (the links are in the OP).

2. The idea behind the Minerals is to show that without competition among pools it is possible achieve fairer mining that is much less vulnerable to network (ASICs) and/or DDoS attacks. Moreover, pool ops do not add much value, if any, to the coin development and I hope that future coin devs and communities will start to think about this. I think that we showed for future coin devs how to avoid premine/instamine and IPOs and yet still keep the interest in their coin by running pools and collecting standard fees. Actually, the cost of running these pools is lower because:

a) there is no need for DDoS protection as there is no competition  
b) there are no other coins on the same server which lowers the hardware requirements
c) for coins with limited POW stage the hardware is required only during the POW stage, which is often quite short nowadays

Stratum modifications will be uploaded to github so that anyone can use it in the future.

3. Pool.mn agreed to help as they share the above beliefs and I think they will offer their help as a service for future coin devs. Of course, any other pool op could offer the same service and I hope that crypto-community will move toward less fees/instamine/premine.

THANK YOU!.

@cryptoangel  Are you going to man up and edit your 'sky is falling' thread to reflect that you misunderstood the situation? That in your attempt to be the hero, you rushed to judgment and cast doubt on this coin and possibly scared away potential investors. "I caught you" Seriously?

[deathchuck]

Minerals is dead, because Min listed on c-cex too soon.
I'm out now.

[ASICrefugee]

Minerals is dead, because Min listed on c-cex too soon.
I'm out now.

Can we have a bit of reasoning behind that?  

Pretty sure the listing with C-CEX was done to allay fears about nowhere to keep the coins but the pools?

[daigitinasam]

What about the wallet? When its going to be released?

[USScrypto]

What about the wallet? When its going to be released?

In a few days, right after the POW stage is over.

[sovie]

Code:

[2:14am] <psorano> <bittrex-bill> do you plan on adding minerals?
[2:15am] <bittrex-bill> psorano: as of right now, we dnt plan on it
[2:15am] <bittrex-bill> minerals is an interesting concept but it violates our principle of open source wallets
[2:15am] <bittrex-bill> they were willing to give us the source but i think the community needs to read and review the code
[2:16am] <bittrex-bill> we're willing to reconsider based on feedback from the community.
[2:16am] <psorano> *dumps bag on ccex*
[2:17am] <bittrex-bill> but imagine if someone decides to bash the mineral thread, no one will be able to independantly verify one way or the other.
[2:19am] <bittrex-bill> the other reason were not willing to launch it yet is that all of the pools are under their control. they can 51% attack us at any time
[2:19am] <bittrex-bill> i have no evidence that why would. the mineral coins have been very transparent with us up to this point. but its a definite worry

The dev already stated that Bittrex would not do anything until after POW is over.

This coin probably is a scam 

Beware , like Honorcoin

this twat is a fud poster ignore him

[Stormbringer]

Minerals is dead, because Min listed on c-cex too soon.
I'm out now.

Minerals are not dead,  if they are dead people would not pay attention to it and this thread will dye
the fact Minerals attract so much attention tells a lot...

There are many coins that started with lower price than minerals and achived high price later.