New gold-backed cryptocurrency INNcoin allows you to mine gold for free

[greatwhtrabbitt]

Do this really work? any one get real gold or this is just like many other scams?

The company backing the coin, anthemvault.com, has been around for decades in the gold and silver trade. Check out the link from businesswire about the developers for the coin (http://www.businesswire.com/news/home/20140716005136/en/Newnote-Financial-%E2%80%93-Newnote%E2%80%99s-Revenue-Generating-Virtual).

You do have to open an account on anthemvault.com, which is free, and then contact them once you have more than 100,000 coins to trade for a gram of gold.

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[funkenstein]

"Gold backed currency" has always worked so well in the past.  I know it seems like impossible to verify all the gold would be available for everybody at all times but usually the players involved in these things have been totally honest and had the best interest of the currency holder at heart. 

[bradfrogger]

Do this really work? any one get real gold or this is just like many other scams?

Not a scam.. I have mined and claimed several grams of gold myself.  About to claim several more.

[cloh76]

Is this coin still active?  Any update from Anthemvault?

The one pool that was posted previously is no longer working (http://inn.hash.sx/) - get an error when I try to add my wallet details.

[M1SHO]

Noone knows about INNcoin - and everyone saw just the CANN part of this article   

http://www.cnbc.com/id/102553811

Read it well !

[Bradfrogger2]

Is this coin still active?  Any update from Anthemvault?

The one pool that was posted previously is no longer working (http://inn.hash.sx/) - get an error when I try to add my wallet details.

You can still solo mine as difficulty is low.  That is what I am doing.  Make sure to use the id/password provided in the conf file if you solo mine.

I am checking weekly for the launch of their hayek coin and will post here when I see that it has launched.

5/8/15 Update:  It looks like Hayek coin is active but you have to request for Anthem to provide you with a wallet. I put in a request and am waiting for a response.

5/13/15 Update:  Here is how it works. You receive a Hayek coin wallet address on the Anthem Vault website. This is NOT a POW (mineable) coin. If you have gold in their vault you will be able to turn it into Hayek coins, with the ratio being 1 Hayek coin equals 1 gram of gold. As I understand it, the true value of Hayek coin will be the ability to make purchases with your gold, without having to have your gold physically in hand. This is assuming that Hayek coin becomes well established and accepted as payment as widely as Bitcoin. As the value of gold is ever-changing, so too is the value of a Hayek coin, but you can always turn your Hayek coins back into gold in the Anthem Vault if you wish. There is also mention of future coins for other precious metals being added.

[saldubiense]

5/13/15 Update:  Here is how it works. You receive a Hayek coin wallet address on the Anthem Vault website. This is NOT a POW (mineable) coin. If you have gold in their vault you will be able to turn it into Hayek coins, with the ratio being 1 Hayek coin equals 1 gram of gold. As I understand it, the true value of Hayek coin will be the ability to make purchases with your gold, without having to have your gold physically in hand. This is assuming that Hayek coin becomes well established and accepted as payment as widely as Bitcoin. As the value of gold is ever-changing, so too is the value of a Hayek coin, but you can always turn your Hayek coins back into gold in the Anthem Vault if you wish. There is also mention of future coins for other precious metals being added.

If it's a blockchain without POW, how a transaction is confirmed? Who can create and record new blocks? Is it a "colored" coin or having its own block chain? Hayek FAQ is empty... https://www.anthemvault.com/faq/hayek/

[ekstremista]

Not a scam.. I have mined and claimed several grams of gold myself.  About to claim several more.

May I ask how the claim process works? I created an account at anthemvault.com, but can't find any information, except a link to download the miner.

I am pooling resources with my mates to hopefully come up with 100K INN before they're all gone in a couple weeks. I understood that this will get us a whole one gram of gold. Can we actually take delivery of the physical metal? It's not much, but would be interesting.

Many thanks.

[Bradfrogger2]

Not a scam.. I have mined and claimed several grams of gold myself.  About to claim several more.

May I ask how the claim process works? I created an account at anthemvault.com, but can't find any information, except a link to download the miner.

I am pooling resources with my mates to hopefully come up with 100K INN before they're all gone in a couple weeks. I understood that this will get us a whole one gram of gold. Can we actually take delivery of the physical metal? It's not much, but would be interesting.

Many thanks.

When you have 100k INN, contact Anthem requesting an INN address to send the coins to them with. The biggest chunk I have been able to send is 25k at a time, so I send four chunks of 25k, then email Anthem that I have sent them. I always include the transaction IDs so that they can verify receiving them. Once verified, the gram of gold is placed into your account. Can you take physical delivery? I am not sure if they have a minimum amount for that. I hope I have been some help.

[ekstremista]

When you have 100k INN, contact Anthem requesting an INN address to send the coins to them with. The biggest chunk I have been able to send is 25k at a time, so I send four chunks of 25k, then email Anthem that I have sent them. I always include the transaction IDs so that they can verify receiving them. Once verified, the gram of gold is placed into your account. Can you take physical delivery? I am not sure if they have a minimum amount for that. I hope I have been some help.

Excellent, thanks. I believe we'll make it to 100K if we have till July 4, which I assume is the date by which all coins will be mined. Unfortunately, the global hash rate and difficulty have been rather high recently, so maybe a bunch of other people are trying a final push like we are.

[Bradfrogger2]

When you have 100k INN, contact Anthem requesting an INN address to send the coins to them with. The biggest chunk I have been able to send is 25k at a time, so I send four chunks of 25k, then email Anthem that I have sent them. I always include the transaction IDs so that they can verify receiving them. Once verified, the gram of gold is placed into your account. Can you take physical delivery? I am not sure if they have a minimum amount for that. I hope I have been some help.

Excellent, thanks. I believe we'll make it to 100K if we have till July 4, which I assume is the date by which all coins will be mined. Unfortunately, the global hash rate and difficulty have been rather high recently, so maybe a bunch of other people are trying a final push like we are.

Yes, let's mine this out. I am solo mining at about 6 Mhash and getting a block every few minutes at this difficulty. I am debating whether or not I should convert a few of my grams of gold to their Hayekcoin.

[ekstremista]

Yes, let's mine this out. I am solo mining at about 6 Mhash and getting a block every few minutes at this difficulty. I am debating whether or not I should convert a few of my grams of gold to their Hayekcoin.

That's awfully high, given that the hash rate has been around 3 MH/s to 16 MH/s recently. I guess you were pretty much the whole network sometimes. What rig do you have to get this kind of rate?

The most we could muster up was around 1.7 MH/s, but it's now a fraction of that, since a couple members have been forced to discontinue participation. My crappy old GTX rig produced only around 0.3 MH/s at best.

[brian_nguyen]

Yes, let's mine this out. I am solo mining at about 6 Mhash and getting a block every few minutes at this difficulty. I am debating whether or not I should convert a few of my grams of gold to their Hayekcoin.

That's awfully high, given that the hash rate has been around 3 MH/s to 16 MH/s recently. I guess you were pretty much the whole network sometimes. What rig do you have to get this kind of rate?

The most we could muster up was around 1.7 MH/s, but it's now a fraction of that, since a couple members have been shut down from using their, shall we say, "borrowed" resources. My crappy old GTX rig produced only around 0.3 MH/s at best.

I got 2.5Mhash+ per one single 7950 so that is not hard to achieve. However my miner stopped working a few days back and I didn't check on it until now. I'm debating whether to cash them out or just hold them in my local wallet and see what happens.

[Bradfrogger2]

Yes, let's mine this out. I am solo mining at about 6 Mhash and getting a block every few minutes at this difficulty. I am debating whether or not I should convert a few of my grams of gold to their Hayekcoin.

That's awfully high, given that the hash rate has been around 3 MH/s to 16 MH/s recently. I guess you were pretty much the whole network sometimes. What rig do you have to get this kind of rate?

The most we could muster up was around 1.7 MH/s, but it's now a fraction of that, since a couple members have been forced to discontinue participation. My crappy old GTX rig produced only around 0.3 MH/s at best.

I am running dual Radeon R9-280X 3GB.

[ekstremista]

Yes, let's mine this out. I am solo mining at about 6 Mhash and getting a block every few minutes at this difficulty. I am debating whether or not I should convert a few of my grams of gold to their Hayekcoin.

Someone please check my 'rithmetick, but it appears the 10M coin limit will be reached today in a matter of hours.

Rewards are decreased every 21900 blocks according to this schedule: { 50,48,45,42,40,39,37,35,34,32,30,25 }. Thus, there are 21900*12=262800 total blocks. As of now, 262600 blocks have been mined, so only 200 remain. Given the 2-minute target per block, we have about 400 minutes left.

Incidentally, the number of coins should be 21900*(50+48+45+42+40+39+37+35+34+32+30+25)=10008300, which is a bit more than 10M, or am I off?

[Bradfrogger2]

Yes, let's mine this out. I am solo mining at about 6 Mhash and getting a block every few minutes at this difficulty. I am debating whether or not I should convert a few of my grams of gold to their Hayekcoin.

Someone please check my 'rithmetick, but it appears the 10M coin limit will be reached today in a matter of hours.

Rewards are decreased every 21900 blocks according to this schedule: { 50,48,45,42,40,39,37,35,34,32,30,25 }. Thus, there are 21900*12=262800 total blocks. As of now, 262600 blocks have been mined, so only 200 remain. Given the 2-minute target per block, we have about 400 minutes left.

Incidentally, the number of coins should be 21900*(50+48+45+42+40+39+37+35+34+32+30+25)=10008300, which is a bit more than 10M, or am I off?

Yeah, blocks mined do not show in my wallet, so it appears to be mined out.

[Rodderick]

I've got a little over 7000 INNcoin left over if anybody can use them to reach their next 100k. Let me know how many you need. First come first serve.

[brian_nguyen]

I've got a little over 7000 INNcoin left over if anybody can use them to reach their next 100k. Let me know how many you need. First come first serve.

That's pretty nice of you but don't forget to leave a few coins for transaction fees if you want to keep the 100K+   

I'm holding to all my coins, don't see the point of getting a few grams of gold

[Bradfrogger2]

I've got a little over 7000 INNcoin left over if anybody can use them to reach their next 100k. Let me know how many you need. First come first serve.

That's pretty nice of you but don't forget to leave a few coins for transaction fees if you want to keep the 100K+   

I'm holding to all my coins, don't see the point of getting a few grams of gold

Brian, I am just curious.. since this was a test by Anthem Vault to gauge interest, why would INN coins have any value beyond turning them in for gold in Anthem Vault. I have a final amount less than 100k that I mined before POW ended, so I will also be giving them away unless I see a reason to hang onto them. Thoughts?

[brian_nguyen]

I've got a little over 7000 INNcoin left over if anybody can use them to reach their next 100k. Let me know how many you need. First come first serve.

That's pretty nice of you but don't forget to leave a few coins for transaction fees if you want to keep the 100K+   

I'm holding to all my coins, don't see the point of getting a few grams of gold

Brian, I am just curious.. since this was a test by Anthem Vault to gauge interest, why would INN coins have any value beyond turning them in for gold in Anthem Vault. I have a final amount less than 100k that I mined before POW ended, so I will also be giving them away unless I see a reason to hang onto them. Thoughts?

Well, we have a couple options:

1. Convert the coins to gold and have them hosted for a fee or have it shipped out.
2. Hold on to the coins and hope they will become rare since the majority of them are being held by Anthem.

Don't know but I'm holding maybe I'm used to being a bad holder of useless coins