[ANN] MonetaryUnit [MUE] - POS. MasterNodes. Funding. Governance. Services. Devs

[bizzyb]

@abiky in fact, if you wanted to use www.BitcoinPrizeDraw.com you are welcome to

[Abiky]

Now this is certainly good stuff for the MUE project. I was thinking about the MUE loans a few days ago and also thought if Poloniex would be a good exchange for MUE as they offer you the ability to lend your coins and maybe this could be achieved with MUE. What you have stated here is an excellent idea. 

Now I am working on making the MUELotto site which will consist of the ability and buy MUE lottery tickets with BTC or MUE and the winner shall be announced every 30th day of every month. Prizes would consist of huge MUE or BTC bounty (winner's choice) 

We did try this a while back
http://www.bitcoinprizedraw.com/
While we didn't have huge success (due to time and fund constraints) it definitely has potential.

Just checked Polo, looks they they are dabbling with offering 3rd party loans, so I've dropped them a feature request message to see if they would consider working with us.
Thanks for the heads up.

Well then if they is already a MUE lottery, then I guess there would be no need for another one right? I mean this one looks great and perhaps we could make this one become successful. And yes, getting Poloniex to work with MUE would be fantastic. Let's hope and see if we get added. 

[bizzyb]

We're winding down the "official" forum www.MUE.club.

An e-mail has been sent to the 187 registered users directing them to this thread to try to centralise discussion about MUE and to avoid dilution of conversation.

[Pollak]

Good to see some action here.
I thought the team left a while ago that's why the price was going down.

Up to some more Mue Developments!

[Abiky]

Good to see some action here.
I thought the team left a while ago that's why the price was going down.

Up to some more Mue Developments!

You said it mate! I hope we could make MUE become one of the best alt coins out there. I have the feeling next year will be the best one yet for MonetaryUnit. 

I am finishing the cloud mining site but if anyone have any comments or suggestions on how to make it better, please let me know. I will be glad to answer your concerns about it and help make MUECloud the first and great cloud mining service for MonetaryUnit! 

[bizzyb]

Now this is certainly good stuff for the MUE project. I was thinking about the MUE loans a few days ago and also thought if Poloniex would be a good exchange for MUE as they offer you the ability to lend your coins and maybe this could be achieved with MUE. What you have stated here is an excellent idea. 

Now I am working on making the MUELotto site which will consist of the ability and buy MUE lottery tickets with BTC or MUE and the winner shall be announced every 30th day of every month. Prizes would consist of huge MUE or BTC bounty (winner's choice) 

We did try this a while back
http://www.bitcoinprizedraw.com/
While we didn't have huge success (due to time and fund constraints) it definitely has potential.

Just checked Polo, looks they they are dabbling with offering 3rd party loans, so I've dropped them a feature request message to see if they would consider working with us.
Thanks for the heads up.

Well then if they is already a MUE lottery, then I guess there would be no need for another one right? I mean this one looks great and perhaps we could make this one become successful. And yes, getting Poloniex to work with MUE would be fantastic. Let's hope and see if we get added. 

Unless someone else can do a better job?
This project has to be sustainable, and previously I just used my money (with some help) to try to generate some interest, which is not a sustainable way of doing this.
Ideally the lottery has to be at the very least cost neutral, so that would mean we would have to generate revenue by selling MUE to be able to offer BTC prizes (hoping that the buys come from people wanting to send their newly acquired MUE to enter the lottery).
I'm wondering whether in fact it would be more beneficial to the project if the lottery accepted BTC and paid out in BTC, and any revenue generated was simply put into buy support for MUE?
I think the domain is marketable www.BitcoinPrizeDraw.com though it does need a re-design and development.
If anyone knows of available "lottery" type software, let us know.

[upgradeadvice]

Hi all, I've approached two exchanges about this and no one wants to take it forward, "so far".
Please have a read and please approach or advise which exchange may be worth contacting.
I've so far tried Bleutrade & Banx.io

MUE savings and loans hosted on "an exchange"
 
Currently MonetaryUnit offers a savings account called MUEbank - http://bank.muecentral.com/
This offers 10%APR interest rate on deposited MUE and has a 28 day withdrawal notification period.
The benefit is that MUE holders can get the benefits of a POS interest return on a POW coin and it allows them to reduce the affect of inflation on their holdings.
A table of the reducing inflation rate is available here http://www.monetaryunit.org/muestuff/slowing-inflation-rate-of-monetaryunit/
MUEBank is a completely manual process, which while manageable at the moment, is still a pain.
The benefit to MUE is it offers a service to its community, and also helps reduce the liquidity in the market place.
The disadvantage of the savings account is that the interest has to be paid from our own holdings.
 
To mitigate this, we want to offer some of the traditional banking services that people know and love, and the second part is the loans facility, whereby MUE holders can deposit their MUE into their MUE loans account, and be offered a BTC loan using their MUE as collateral.  My gut feeling is that the BTC loan would be 50% of the current market value of their MUE when it is deposited.
I think perhaps we have 3 terms. 1 month @ 5%, 2 months @ 10% , 3 months @ 15%.
Once up and running this will allow the savings offering to be self sustaining, and also generate profit.
 
This is hopefully where it can get interesting for "an exchange" & MUE.

Lets say for arguments sake, that the revenue generated by the BTC loans is split 50/50 exchange/MUE.
So the exchange can do whatever it wants with its portion of the revenue = win for exchange.

The other portion of the revenue for MUE is AUTOMATICALLY put into buy support for MUE which tops up the MUE account on the exchange that pays the interest to the savings offering, again, this is a win for the exchange as it keeps the coins re-circulating there and increases volume of trade in that exchange.
It will also give the exchange a fantastic USP to market against as I am not aware anyone else is offering what I'm suggesting.

Ideally the exchange would only offer these services just for MUE, however I also understand that being able to use MUE as a test bed could be invaluable to offer the same services for other coins.
The benefit to MUE obviously is being able to offer sensible, fair automated financial instruments people can understand and are familiar with, which gives us exposure as a crypto project, but also of course, means that the re-invested BTC generated from the BTC loans will increase the MUE price.
It also means we don't have to be worried about having to set up an legal entity in a crypto friendly jurisdiction, as it will be managed by the exchange.
 
So there are a few things we would have to do.
1) Provide the exchange with MUE to fund the wallet that pays the interest in MUE savings.
2) Provide the exchange with BTC with which to fund the wallet that will pay out the BTC for the MUE loans.
3) There would have to be a facility that will "drip sell" MUE on any defaulted loans
4) Users will have to have as part of their exchange login, a simple to understand "banking" facility.
5) Show the liquidity funds of both MUE and BTC wallets being used to fund the services.
 
Initially I think we would have to be cautious and on launch limit both the number of users who are able to open accounts, but also limit the amounts that can be deposited into the savings account or BTC borrowed against their MUE collateral.
Also, as we move forward with it, it would be great to be able to activate promotional rates and offers etc.

Also instead of only offering people BTC loans against their MUE collateral you could offer them ANY coin as a loan which would work by using the BTC in the loans wallet to buy the coin they want to borrow, once again increasing volume on the exchange.

Now this is certainly good stuff for the MUE project. I was thinking about the MUE loans a few days ago and also thought if Poloniex would be a good exchange for MUE as they offer you the ability to lend your coins and maybe this could be achieved with MUE. What you have stated here is an excellent idea. 

Now I am working on making the MUELotto site which will consist of the ability and buy MUE lottery tickets with BTC or MUE and the winner shall be announced every 30th day of every month. Prizes would consist of huge MUE or BTC bounty (winner's choice) 

Poloniex would be ideal imo, and I've put in requests to have MUE added. I figure they'd be more willing to look into adding MUE if a few more folks with active Poloniex accounts submitted requests as well.

Good to see some action here.
I thought the team left a while ago that's why the price was going down.

Up to some more Mue Developments!

Part of the reason for the price drop is from auto-dumping from yaamp clones and the like. I believe one way to combat this is to mine another coin and request payouts in MUE.

[bizzyb]

Happy new year everyone.
Make it count

[Abiky]

Part of the reason for the price drop is from auto-dumping from yaamp clones and the like. I believe one way to combat this is to mine another coin and request payouts in MUE.

That could be done as well, but maybe I could add this feature to the cloud mining service that I am working on. Users will get the chance to mine other alts as well as Bitcoin and have the ability to request payout either in MUE or BTC. If payout is requested in MUE, there would be no withdrawal fees, but if done with BTC there will be very minimal fees.

Is it a good idea? 

[bizzyb]

Part of the reason for the price drop is from auto-dumping from yaamp clones and the like. I believe one way to combat this is to mine another coin and request payouts in MUE.

That could be done as well, but maybe I could add this feature to the cloud mining service that I am working on. Users will get the chance to mine other alts as well as Bitcoin and have the ability to request payout either in MUE or BTC. If payout is requested in MUE, there would be no withdrawal fees, but if done with BTC there will be very minimal fees.

Is it a good idea? 

It might be something to look at in the future?
If I was doing this project I would start with straight MUE mining and develop it from there.
Try and keep it as simple as possible initially, gain the experience and market exposure and develop from there would be my suggestion.
This is your project of course, however from my experience, the more cogs in a wheel the more chances that wheel might get stuck and stop moving

[roslinpl]

Happy New Year to everyone!!

2016 - The Year Of The MUE?


I know for sure that some great things are coming to us this year :-)



Best regards.

[theboccet]

happy new year to all MUE community!!!!
BIG YES for all the great things that MUE will show us;The cloud is the beginning and then it's up to us to choose what planet to reach!!! the moon is a classic one
Let's be originals 

[Abiky]

Part of the reason for the price drop is from auto-dumping from yaamp clones and the like. I believe one way to combat this is to mine another coin and request payouts in MUE.

That could be done as well, but maybe I could add this feature to the cloud mining service that I am working on. Users will get the chance to mine other alts as well as Bitcoin and have the ability to request payout either in MUE or BTC. If payout is requested in MUE, there would be no withdrawal fees, but if done with BTC there will be very minimal fees.

Is it a good idea? 

It might be something to look at in the future?
If I was doing this project I would start with straight MUE mining and develop it from there.
Try and keep it as simple as possible initially, gain the experience and market exposure and develop from there would be my suggestion.
This is your project of course, however from my experience, the more cogs in a wheel the more chances that wheel might get stuck and stop moving

I guess you are right mate! I will just focus on MUE mining only and after some time of being successful with the project, I will then consider adding this feature to the MUECloud. Hope this next year could bring a solid community and development to MonetaryUnit. 

[bizzyb]

Part of the reason for the price drop is from auto-dumping from yaamp clones and the like. I believe one way to combat this is to mine another coin and request payouts in MUE.

That could be done as well, but maybe I could add this feature to the cloud mining service that I am working on. Users will get the chance to mine other alts as well as Bitcoin and have the ability to request payout either in MUE or BTC. If payout is requested in MUE, there would be no withdrawal fees, but if done with BTC there will be very minimal fees.

Is it a good idea? 

It might be something to look at in the future?
If I was doing this project I would start with straight MUE mining and develop it from there.
Try and keep it as simple as possible initially, gain the experience and market exposure and develop from there would be my suggestion.
This is your project of course, however from my experience, the more cogs in a wheel the more chances that wheel might get stuck and stop moving

I guess you are right mate! I will just focus on MUE mining only and after some time of being successful with the project, I will then consider adding this feature to the MUECloud. Hope this next year could bring a solid community and development to MonetaryUnit. 

If we focus on creating an environment for MUE that people will want to be involved with, rather than hoping people will come, or marketing to them asking them to come, then we can build a long term sustainable project.

If we back this up with a "profitable" portfolio of products to support the price, again, this will bring long term sustainable success e.g
www.CoinPon.com
www.MUEcloud.xyz
www.CryptoCoinMarketCap.com
MUElend loans and savings services
"secret project" by Roslinpl (hopefully launching end of Q1 2016)

With the right mentality and people any crypto project "could" be successful, but they are few and far between, and most are involved for short term gain with little substance.

We can do it a different way

[bizzyb]

There is a miner available for your Android device

https://play.google.com/store/apps/details?id=com.miner.quark

I was 1 thread mining on my phone and hitting 5kh.
Running on an Android mini PC this might work quite nicely as a cheap miner.

I've added a post about this:
http://www.monetaryunit.org/muestuff/mine-mue-using-your-android-device/

[Abiky]

There is a miner available for your Android device

https://play.google.com/store/apps/details?id=com.miner.quark

I was 1 thread mining on my phone and hitting 5kh.
Running on an Android mini PC this might work quite nicely as a cheap miner.

I've added a post about this:
http://www.monetaryunit.org/muestuff/mine-mue-using-your-android-device/

Interesting. Never thought about having a quark miner on my Android device. Now with this I could finally put one of my old tablets to good use. Will give this a try. 

These days I haven't been active much on this thread, but assured that I have been extremely busy working with the cloud mining project and hopefully have the site stable and ready to begin the crowd funding campaign. It is just a matter of days before everything is all set up. About the T-Shirts campaign that I have established, I guess it didn't work out after all, and thus I will find new ways to raise funds for the project.

Together we could make MUE the best crypto currency out there. It all depends whenever the community decides to give its best to it or not. 

[bizzyb]

There is a miner available for your Android device

https://play.google.com/store/apps/details?id=com.miner.quark

I was 1 thread mining on my phone and hitting 5kh.
Running on an Android mini PC this might work quite nicely as a cheap miner.

I've added a post about this:
http://www.monetaryunit.org/muestuff/mine-mue-using-your-android-device/

Interesting. Never thought about having a quark miner on my Android device. Now with this I could finally put one of my old tablets to good use. Will give this a try. 

These days I haven't been active much on this thread, but assured that I have been extremely busy working with the cloud mining project and hopefully have the site stable and ready to begin the crowd funding campaign. It is just a matter of days before everything is all set up. About the T-Shirts campaign that I have established, I guess it didn't work out after all, and thus I will find new ways to raise funds for the project.

Together we could make MUE the best crypto currency out there. It all depends whenever the community decides to give its best to it or not. 

Yeah, we're going to test it on the remix Android PC
http://www.amazon.co.uk/Remix-Mini-OS-2-0-Android/dp/B017VUUSTY/ref=sr_1_2?ie=UTF8&qid=1451909522&sr=8-2&keywords=remix+pc
We should get significant performance increase over the rpi and a much more versatile device.
We're also going to look at Windows PC sticks too, so we can potentially offer two cheap MUE miner mini PCs.

I will definitely donate to your crowd funding appeal.
I've done a little due diligence and read from your post history, like so many of us, you've been burnt by scam cloud mining companies etc etc and it's nice to see you want to do this a better way, which is what this project, and those of us involved in it are all about too.

[Abiky]

There is a miner available for your Android device

https://play.google.com/store/apps/details?id=com.miner.quark

I was 1 thread mining on my phone and hitting 5kh.
Running on an Android mini PC this might work quite nicely as a cheap miner.

I've added a post about this:
http://www.monetaryunit.org/muestuff/mine-mue-using-your-android-device/

Interesting. Never thought about having a quark miner on my Android device. Now with this I could finally put one of my old tablets to good use. Will give this a try. 

These days I haven't been active much on this thread, but assured that I have been extremely busy working with the cloud mining project and hopefully have the site stable and ready to begin the crowd funding campaign. It is just a matter of days before everything is all set up. About the T-Shirts campaign that I have established, I guess it didn't work out after all, and thus I will find new ways to raise funds for the project.

Together we could make MUE the best crypto currency out there. It all depends whenever the community decides to give its best to it or not. 

Yeah, we're going to test it on the remix Android PC
http://www.amazon.co.uk/Remix-Mini-OS-2-0-Android/dp/B017VUUSTY/ref=sr_1_2?ie=UTF8&qid=1451909522&sr=8-2&keywords=remix+pc
We should get significant performance increase over the rpi and a much more versatile device.
We're also going to look at Windows PC sticks too, so we can potentially offer two cheap MUE miner mini PCs.

I will definitely donate to your crowd funding appeal.
I've done a little due diligence and read from your post history, like so many of us, you've been burnt by scam cloud mining companies etc etc and it's nice to see you want to do this a better way, which is what this project, and those of us involved in it are all about too.

Thank you for your support. I was looking into mini stick PCs as well and perhaps you could get a better hashrate with them, especially the Intel Stick PC (I think) And yes, I have passed through a lot of scams since I have first started with Bitcoin, but after all that you get to learn from it and then you will be able to overcome it as time goes by. Most of them were allegedly legit cloud mining operations, but they turned out to be a true scam or ponzi. I will just establish a trustworthy cloud mining service for the benefit of the MUE community and to help it stay for long term. Excellent service and true transparency is the key to maintain it and gain trust from users. 

[bizzyb]

There is a miner available for your Android device

https://play.google.com/store/apps/details?id=com.miner.quark

I was 1 thread mining on my phone and hitting 5kh.
Running on an Android mini PC this might work quite nicely as a cheap miner.

I've added a post about this:
http://www.monetaryunit.org/muestuff/mine-mue-using-your-android-device/

Interesting. Never thought about having a quark miner on my Android device. Now with this I could finally put one of my old tablets to good use. Will give this a try. 

These days I haven't been active much on this thread, but assured that I have been extremely busy working with the cloud mining project and hopefully have the site stable and ready to begin the crowd funding campaign. It is just a matter of days before everything is all set up. About the T-Shirts campaign that I have established, I guess it didn't work out after all, and thus I will find new ways to raise funds for the project.

Together we could make MUE the best crypto currency out there. It all depends whenever the community decides to give its best to it or not. 

Yeah, we're going to test it on the remix Android PC
http://www.amazon.co.uk/Remix-Mini-OS-2-0-Android/dp/B017VUUSTY/ref=sr_1_2?ie=UTF8&qid=1451909522&sr=8-2&keywords=remix+pc
We should get significant performance increase over the rpi and a much more versatile device.
We're also going to look at Windows PC sticks too, so we can potentially offer two cheap MUE miner mini PCs.

I will definitely donate to your crowd funding appeal.
I've done a little due diligence and read from your post history, like so many of us, you've been burnt by scam cloud mining companies etc etc and it's nice to see you want to do this a better way, which is what this project, and those of us involved in it are all about too.

Thank you for your support. I was looking into mini stick PCs as well and perhaps you could get a better hashrate with them, especially the Intel Stick PC (I think) And yes, I have passed through a lot of scams since I have first started with Bitcoin, but after all that you get to learn from it and then you will be able to overcome it as time goes by. Most of them were allegedly legit cloud mining operations, but they turned out to be a true scam or ponzi. I will just establish a trustworthy cloud mining service for the benefit of the MUE community and to help it stay for long term. Excellent service and true transparency is the key to maintain it and gain trust from users. 

Well those are definitely goals to aim for, but ultimately you have to make sure it's profitable to keep your incentive to maintain the project.
There is nothing wrong with making a profit whilst also offering a valuable service.

[bizzyb]

If anyone has any suggestions, or has noticed anything that needs editing or updating in the ANN of this thread or the main www.MonetaryUnit.org website, please let me know.
I've updated a few things, but it's easy to miss stuff.
Thanks