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MidasCoin
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September 19, 2014, 06:59:33 PM
 #81

* MAJOR: This coin is centralized by design.

No, thanks. This could only end one way and it's just a matter of when.

There is much worst around out there.  Premines, ninja hoarding.

We have 0 premine, and premine  is a much higher form of centralization (don't you think) ?

Our only centralization is in the distribution, cause we back the value, and we can't (and don't want) pay for forked/inflated coin.  
As far as our users use the official client, they will never be affected by a double spend, or a fork.

If you think that this is not a good thing, we can't convince you, but the trust will come with time


   


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September 19, 2014, 07:11:29 PM
 #82

* MAJOR: This coin is centralized by design.

No, thanks. This could only end one way and it's just a matter of when.

There are much worst around there.

We have 0 premine, and premine is a much higher form of centralization.

Our only centralization is in the distribution, cause we back the value, and we can't (and don't want) pay for forked/inflated coin.  
As far as our users use the official client, they will never be affected by a double spend, or a fork.

If you think that this is not a good thing, we can't convince you, but the trust will come with time


It's not about trusting you, you could be the most trustworthy being on the planet, it's about that you and your team do have the power to do whatever you want with the coin. It's the principle and what you're going for goes against everything crypto stands for. A premine has no relevance later down the line once a coin has been well established while centralization does, so no, you can't really call the usual few percentage premine less of a centralization than full blown centralization itself. If you can't work around that, you're launching a coin faulty by design. I'm not trying to FUD or anything just genuinely curious if you can't see that.

RIP Bittrex
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September 19, 2014, 07:47:08 PM
 #83

Quote
It's not about trusting you, you could be the most trustworthy being on the planet, it's about that you and your team do have the power to do whatever you want with the coin. It's the principle and what you're going for goes against everything crypto stands for. A premine has no relevance later down the line once a coin has been well established while centralization does, so no, you can't really call the usual few percentage premine less of a centralization than full blown centralization itself. If you can't work around that, you're launching a coin faulty by design. I'm not trying to FUD or anything just genuinely curious if you can't see that.

I gotta agree with this, it is basically another centralized service with a gloss of cryptocurrency on top. I made an effort to mine this on behalf of a friend who had no scrypt power, which was a laughable exercise in futility. If being limited to mining one pool doesn't indicate centrality, I don't know what does.

This is an excellent investment if you have participated in any of the numerous "Let's build something just like bitcoin, only better" schemes that have floated around here for the past year.


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IMJim
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September 19, 2014, 08:03:20 PM
 #84

Close to re-launch, miners ready:-)

We ready to rock this Midas?
Timeline
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September 19, 2014, 08:04:44 PM
 #85

Less than two hours until relaunch!
http://www.midaspool.com/ref/1219

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LionOfNarnia
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September 19, 2014, 08:05:09 PM
 #86

After nearly a year of promising coins that get P&D'd to near-extinction within weeks of launch, and despite being of a 'decentralise at all costs' core ethos, I'll be firing up my 2 single-GPU PCs for the relaunch.

I haven't mined since the start of summer. My last outing was with the Blake Ecosystem, which was OK for a while then went to crap. Now I hear the best coin on there - Dirac - is caught up in a pissing contest between 2 devs Sad

So, I'm prepared to give Midas a full & fair chance to prove itself.

Yes, I'd rather be mining something 'non-asic', but that's only coz I haven't got one. If this coin retains a value where, at the least, I make more from it than the electric company does, I'll consider it a wise choice.

Best wishes for a smooth launch.

Member of the UK Digital Currency Association * Bitrated user: LionOfNarnia. * Member of the ZeitKnights * Member of the Bytecent Community Team

"I don't always kill & eat things - but when I do it's because I'm a Lion & they were things"
SamuelN
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September 19, 2014, 08:08:14 PM
 #87

Will be hard to compete with the enormous hashing incoming at launch!
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September 19, 2014, 08:09:58 PM
 #88

After nearly a year of promising coins that get P&D'd to near-extinction within weeks of launch, and despite being of a 'decentralise at all costs' core ethos, I'll be firing up my 2 single-GPU PCs for the relaunch.

I haven't mined since the start of summer. My last outing was with the Blake Ecosystem, which was OK for a while then went to crap. Now I hear the best coin on there - Dirac - is caught up in a pissing contest between 2 devs Sad

So, I'm prepared to give Midas a full & fair chance to prove itself.

Yes, I'd rather be mining something 'non-asic', but that's only coz I haven't got one. If this coin retains a value where, at the least, I make more from it than the electric company does, I'll consider it a wise choice.

Best wishes for a smooth launch.

If you're really going to GPU mine scrypt, I can't say much other than I'm glad you only have 2 GPU's as they won't cost you much in electricity. You'd be better off mining something you're GPU is still good at and buying midas from the profit of that.

RIP Bittrex
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September 19, 2014, 08:14:06 PM
 #89

Will be hard to compete with the enormous hashing incoming at launch!

Hopefully there will be a bit less on the re-launch today!  The first launch was INSANE, never seen so much has on a new coin before.  There was definitely MAJOR interest in this one, but I am hoping people are just a little more hesitant today and don't throw down so much hash right out of the gate.
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September 19, 2014, 08:16:59 PM
 #90

If you're really going to GPU mine scrypt, I can't say much other than I'm glad you only have 2 GPU's as they won't cost you much in electricity. You'd be better off mining something you're GPU is still good at and buying midas from the profit of that.

Even if you have a point (of course), Midas is not just a currency, but a payment network, that offer already many service and will offer new services every week, for years.

We embrace everyone that want to take part in this, cause in future there will be new way to earn midascoin (revenue sharing forum, mining by phone, surveys, others).
Just as example, we had on launch a guy that mined with his 21 Khash cpu for 2 days, dreaming of collecting an entire Midas.
He got a 10 Mid voucher.

We want everyone to take in midas despite his mining capacity.  our userbase will benefits of the upcoming services, without considering the hashing power  Cool
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September 19, 2014, 08:17:43 PM
 #91

Will be hard to compete with the enormous hashing incoming at launch!

Hopefully there will be a bit less on the re-launch today!  The first launch was INSANE, never seen so much has on a new coin before.  There was definitely MAJOR interest in this one, but I am hoping people are just a little more hesitant today and don't throw down so much hash right out of the gate.
Yeah, I imagine there won't be quite as many on this as there was for the initial launch, which I suppose will be a good thing for us small miners.
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September 19, 2014, 08:19:53 PM
 #92

If you're really going to GPU mine scrypt, I can't say much other than I'm glad you only have 2 GPU's as they won't cost you much in electricity. You'd be better off mining something you're GPU is still good at and buying midas from the profit of that.

Even if you have a point (of course), Midas is not just a currency, but a payment network, that offer already many service and will offer new services every week, for years.

We embrace everyone that want to take part in this, cause in future there will be new way to earn midascoin (revenue sharing forum, mining by phone, surveys, others).
Just as example, we had on launch a guy that mined with his 21 Khash cpu for 2 days, dreaming of collecting an entire Midas.
He got a 10 Mid voucher.

We want everyone to take in midas despite his mining capacity.  our userbase will benefits of the upcoming services, without considering the hashing power  Cool

Dude, that is hella cool you guys did that man!  Love to see the little guy get some love:-)
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September 19, 2014, 08:22:21 PM
 #93

What do you think about master nodes?
LionOfNarnia
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September 19, 2014, 08:27:50 PM
 #94

After nearly a year of promising coins that get P&D'd to near-extinction within weeks of launch, and despite being of a 'decentralise at all costs' core ethos, I'll be firing up my 2 single-GPU PCs for the relaunch.

I haven't mined since the start of summer. My last outing was with the Blake Ecosystem, which was OK for a while then went to crap. Now I hear the best coin on there - Dirac - is caught up in a pissing contest between 2 devs Sad

So, I'm prepared to give Midas a full & fair chance to prove itself.

Yes, I'd rather be mining something 'non-asic', but that's only coz I haven't got one. If this coin retains a value where, at the least, I make more from it than the electric company does, I'll consider it a wise choice.

Best wishes for a smooth launch.

If you're really going to GPU mine scrypt, I can't say much other than I'm glad you only have 2 GPU's as they won't cost you much in electricity. You'd be better off mining something you're GPU is still good at and buying midas from the profit of that.

If there was anything out there that wasn't a dead-cert loss for my rigs I'd be there already. I'll give it a chance for a while, if I'm running a big loss I'll quit.

Gotta say though - people armed with asic-farms whining about centralisation is a bit hypocritical, in my eyes.

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September 19, 2014, 08:39:51 PM
 #95

After nearly a year of promising coins that get P&D'd to near-extinction within weeks of launch, and despite being of a 'decentralise at all costs' core ethos, I'll be firing up my 2 single-GPU PCs for the relaunch.

I haven't mined since the start of summer. My last outing was with the Blake Ecosystem, which was OK for a while then went to crap. Now I hear the best coin on there - Dirac - is caught up in a pissing contest between 2 devs Sad

So, I'm prepared to give Midas a full & fair chance to prove itself.

Yes, I'd rather be mining something 'non-asic', but that's only coz I haven't got one. If this coin retains a value where, at the least, I make more from it than the electric company does, I'll consider it a wise choice.

Best wishes for a smooth launch.

If you're really going to GPU mine scrypt, I can't say much other than I'm glad you only have 2 GPU's as they won't cost you much in electricity. You'd be better off mining something you're GPU is still good at and buying midas from the profit of that.

If there was anything out there that wasn't a dead-cert loss for my rigs I'd be there already. I'll give it a chance for a while, if I'm running a big loss I'll quit.

Gotta say though - people armed with asic-farms whining about centralisation is a bit hypocritical, in my eyes.

First...........LOVE the name!  Was my absolute favorite book when I was in school, back when I used to still read lol:-)  Was stoked they came out with all the movies, LOVED em!

Have you checked the profitability for your cards on CannabisCoin by any chance.  I heard a couple days ago it was the most profitable for the algo....is also expected to raise in value much here shortly.  The X11 use much less electricity as well.  I too have not mined Scrypt with my GPUs since end of Winter, I don't think GPUs are going to be any good anymore with this algo....unless you hit a launch like this and the value goes up.

Personally I think if all goes well today, any hash will be greatly profitable if held for a while.  This coin could go well beyond the moon if all works out as planned!
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September 19, 2014, 08:40:27 PM
 #96

If you're really going to GPU mine scrypt, I can't say much other than I'm glad you only have 2 GPU's as they won't cost you much in electricity. You'd be better off mining something you're GPU is still good at and buying midas from the profit of that.

Even if you have a point (of course), Midas is not just a currency, but a payment network, that offer already many service and will offer new services every week, for years.

We embrace everyone that want to take part in this, cause in future there will be new way to earn midascoin (revenue sharing forum, mining by phone, surveys, others).
Just as example, we had on launch a guy that mined with his 21 Khash cpu for 2 days, dreaming of collecting an entire Midas.
He got a 10 Mid voucher.

We want everyone to take in midas despite his mining capacity.  our userbase will benefits of the upcoming services, without considering the hashing power  Cool

Understandable, I wouldn't want to step on anybody's thrill of mining, just tried to state that he would more than likely end up with more midas mining something else.

Phone mining with scrypt.. It's cute and all but you did pick an algo which is not for the little guys for quite some time now. And if we consider that a decent phone today mines at around I don't know, random search showed 8kh/s, and if the net hashrate is 14 ghs as it was, you do kind of have to wake up when you realize that the time to hit a single block would take roughly 10 and a half years.

@LionOfNarnia: I don't have ASIC's

RIP Bittrex
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September 19, 2014, 08:42:02 PM
 #97

Phone mining with scrypt.. It's cute and all but you did pick an algo which is not for the little guys for quite some time now. And if we consider that a decent phone today mines at around I don't know, random search showed 8kh/s, and if the net hashrate is 14 ghs as it was, you do kind of have to wake up when you realize that the time to hit a single block would take roughly 10 and a half years.

@LionOfNarnia: I don't have ASIC's

You got the phone mining concept wrong Wink

It will be by calling a local number with your extra minutes on flat residential plan, but no spoilers.   We have a lot of service ready and will release em on a weekly basis Wink

Regards
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September 19, 2014, 08:47:11 PM
 #98

Ok now you're just being a tease!

VERY curious now about this phone mining thing, so I guess your teasing worked on me......damn you midas:-)
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September 19, 2014, 08:52:29 PM
 #99

Ok now you're just being a tease!

VERY curious now about this phone mining thing, so I guess your teasing worked on me......damn you midas:-)

Patience is a virtue my friend, but if you look on the first post, on the "development" sections, you can find several spoilers (and eta) about the services that we have in stock for the Midas Payment Network.

Midascoin is the currency, the flagship, but there is a full network of services behind, and more will come an a regular basis  Cool
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September 19, 2014, 09:00:50 PM
 #100

chomping at the bit!

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