[ANN][MID]MidasCoin|New Scrypt PoM|Backed Value|ATM card|Referral|NO IPO|UNIQUE

[MidasCoin]

I'm very curious how this will turn out, it's a very centralized business model using decentralized currency.   Curious for now. Not having other exchanges is too much control over your own coin though.

Any exchange is free to list us.  Exchange that want to be placed in the first post as "approved" should provide additional warranty.    We back directly the value of the coin, and the security of your fund is the primary concern.

Is also worth to mention how end all those "fabulous" premade coin project, that include the all-in-one grey package, included first day listing.

[aguanyardiners]

Is cgminer 3.1.1 supported?

I've seen in the pool (section: Getting started):

Warning: Cgminer up to version 3.7.2 has a bug in the code and is not supported by this pool (all your shares will be rejected if you use it). You must use Sgminer, Cudaminer, GridSeed Mining-software or Cgminer 3.7.3.

So, i guess not 

[MidasCoin]

Is cgminer 3.1.1 supported?

http://midaspool.com/index.php?page=gettingstarted

there you can find all the details, the only unsupported software is cgminer 3.7.2 (and eventually other software that use that firmware).

In case you get 100% reject, that's the reason and you have to switch software

[SkyValeey]

Reserved

[IMJim]

I had to laugh reading through this at the debate over ASICs!

It is funny how we choose our opinions based on our own personal gain.....people with ASICs cheer them and people without them say they are evil, personal situation changes and then so does their opinion:-)

ASICs are inevitable and NECESSARY!!  Why can't people see this simple logic, same as ignorant people saying "there can be only 1 coin that survives in the end"......hilarious shit to me when I read this from people!  

Scrypt itself will die a quick death without ASICs.......don't you people that argue this realize just how inefficient GPUs are at hashing scrypt?!  Look at the fricken power your GPUs use to mine scrypt compared to ASICs.  There is an enormous NEED in crypto to lesson the electrical usage to mine crypto currencies!!

"Without an eventual ASIC for a specific algorithm, that algorithm will fail"..........FACT, well at least I believe it to be as well.

Sorry, I have to get back to trading so I can buy some more ASICs:-)  

[hidoba]

for me this whole thing looks awfully like a SCAM and I'll make my point in this post because for some reason no one else has pointed out what seems obvious to me.

so... imagine you'd like to earn a lot of money and you are seeking an easiest way to do so. Which is...

convince everyone to point their miners at you, so that you mine your favorite scrypt coins.

As the point is about convincing, you certainly need to offer something that sounds really good, like debit cards, ATM cashouts, golden bars, 0 premine, and so on.

So as the points starts getting clear let me address some questions:
1. Why the only one centralized mining pool?
Because they get all the hashing power to earn some real money for themselves.

2. Why does it look so good?
To get you in!

3. Why use scrypt?
Because everyone has ASICS, and the total hashing power they can steal is higher.

4. Wait, but they said it is open-source!
Yes, here are two options, whether they never actually publish the code, or they publish another version that looks right but not the one actually working on their servers/

5. And so what's gonna happen?
You don't believe me because their offer looks really promising, you point your miners at their pool, they use the power to mine different scrypt coins, and they actually issue some fake MID coins that you can use in your account as you are mining. The MID gets to the real exchange, its price drops after a couple of days way below the price they pretend to pay you, so you start holding your MID coins (the USD equivalent values for your MID coins on your account page look very good you point even more miners at them). A few weeks pass, and you realize you want to get your money. And here the problem begins: they promise to issue a debit card but never do that. You wait some more time, and after a month or so you start realizing you were fooled. At that time the real MID price at the exchanges gets really low, and you can do nothing with your MIDs. Your mining power for this whole time resulted in someone else's Jaguar.

6. Someone pointed out that their company is registered one day before the forum posting. Why?
They had all the code ready in advance, the only bottleneck for starting that was the waiting for the company creation process.

7. They claim to issue Mastercard debit cards. They claim to have a huge funding. Any proofs?
No.

8. Why send spam to emails they got from crypto rush (read the thread)?
To get more people in.

9. What's the most clever part?
That you will realize that you are scammed after a month of giving out your hashing power (see 5).

[MidasCoin]

4. Wait, but they said it is open-source!
Yes, here are two options, whether they never actually publish the code, or they publish another version that looks right but not the one actually working on their servers/

You don't know so much about cryptocurrency, aren't you?

Different version will not synchronize.

Better luck next time

[ocminer]

Only own pools?

[MidasCoin]

Release date:
http://gifcountdown.com/europe-london/1410127200/141414/0f0f0f/aaaaaa/fdfdfd/faedad/true/counter.gif

After 6 months of development, we come to an end... Oh wait, is just the beginning.

#midascoin launch in 1 hour, let the gold rush begin!

[madbit1000]

Seems interesting enough to actually switch my miner back on After being screwed over by the many scam coins. Loving this. will follow.

[tyson187]

4. Wait, but they said it is open-source!
Yes, here are two options, whether they never actually publish the code, or they publish another version that looks right but not the one actually working on their servers/

You don't know so much about cryptocurrency, aren't you?

Different version will not synchronize.

Better luck next time

why didn`t you answer any of his questions ?

just answer them and disprove his accusations .

[bobbles]

Is the IRC channel having problems? Everytime I try to log in I get "server failure verifying captcha."

[IMJim]

Anyone else having problems accessing IRC?  I keep getting captcha errors, have tried over a dozen times!

[IMJim]

Is the IRC channel having problems? Everytime I try to log in I get "server failure verifying captcha."

HA!  I guess you answered my question before I could ask lol:-)

[bobbles]

Is the IRC channel having problems? Everytime I try to log in I get "server failure verifying captcha."

HA!  I guess you answered my question before I could ask lol:-)

Guess so  Glad it isn't just me.

[bit1]

Coins backed by REAL GOLD           http://www.midaspool.com/ref/1196

[DeezBTC]

is anyone mining?

[IMJim]

Don't think so, shouldn't start for another 30 minutes.

[bobbles]

Mining should begin in approximately 30 minutes.

[IMJim]

Man this sucks, what a time for freenode to go down:-(