Topic: alot of people are mining MTC were we missing something (Read 2690 times)
Reported to authorities.
SamySamy1.
Their coin is different in that they don't have to mine. They have premined 97.2% of all the coins, and have a centralized bank like system. They will then pay out interest on the coins you have. Much different than PoS.
If you read into their info, they are essentially trying to get rich enough to purchase an island or something and build a city on it. Then form their own government on that island, and the only currency used on the island would be their coins. They would also bring in money from the tourist industry, as people would be coming to the island for vacations ect.
It's definitely a new concept anyways. I will give them that.
I wish them the best of luck, but I don't think I will be mining this one.
Their coin is different in that they don't have to mine. They have premined 97.2% of all the coins, and have a centralized bank like system. They will then pay out interest on the coins you have. Much different than PoS.
If you read into their info, they are essentially trying to get rich enough to purchase an island or something and build a city on it. Then form their own government on that island, and the only currency used on the island would be their coins. They would also bring in money from the tourist industry, as people would be coming to the island for vacations ect.
It's definitely a new concept anyways. I will give them that.
I wish them the best of luck, but I don't think I will be mining this one.
No need to run any client in marinecoin the system is centralised in that way, that's why it is pre allocated for future generations to reward the users without any client requirement whatsoever, these running clients etc are unrealistic for general population to adapt that's why we have chosen this method, no body is going to check if their client is running everyday to earn interest
But you still have to mine, so again you would be using computer power.
And if it was 'real' interest than I wouldn't be interested anyway
So sorry no thank you I'm not buying into this creepy program.
Yep samysamy1 you are correct, you have to have your client open in order to gain PoS blocks.
I do like the weird wacky concept behind this coin, and its cult like mentality. Also like the idea they want to build a city ect.
But what I don't like is the 97.2% premine, and leaving the remaining 2.8% to be mined at a stable rate for the next 1000 years. This means if the coin was actually worth $5.50 US after the first year, the miners would have 0.0028% of the coins, and the devs would have 97.2% of the coins, making them the richest people in the world. I don't think they have thought things through, which is why I'm not buying into this one.
I do like the weird wacky concept behind this coin, and its cult like mentality. Also like the idea they want to build a city ect.
But what I don't like is the 97.2% premine, and leaving the remaining 2.8% to be mined at a stable rate for the next 1000 years. This means if the coin was actually worth $5.50 US after the first year, the miners would have 0.0028% of the coins, and the devs would have 97.2% of the coins, making them the richest people in the world. I don't think they have thought things through, which is why I'm not buying into this one.
we will marry @ marinecoin city and have all fellow marinecoiner's as guests at our wedding which will cost 100 MTC about 100.000 in USD 
You two should just get married.
I sold my house lost it on LTC what have I got to lose go MTC be my saviour
waiting for the dns update
We will post when this pool is operational good pool domain name by the way I like it
I just bought the domain setting up a pool www.weminemtc.com should be up and running in a few hours
biggest pool now is mtc.coinminerpool.com
biggest pool now is mtc.coinminerpool.com
MTC network is growing, maintaining good hashrates, where did that extra 10000 khash came from the last hour are you guys on the forum?
Marinecoin to the moon
Marinecoin to the moon
Good explanation
No need to run any client in marinecoin the system is centralised in that way, that's why it is pre allocated for future generations to reward the users without any client requirement whatsoever, these running clients etc are unrealistic for general population to adapt that's why we have chosen this method, no body is going to check if their client is running everyday to earn interest
Thank you for your response Vivisector 
But isn't it that with PoS you'll have to mine/forge in order to earn what you call 'interest'? This means that you will eventually have to use computer power (far less than with PoW) by running a client or whatever. I don't know anything about Peercoin, but this is how Nxt works. You won't get any 'interest' if you don't run the client.
Quote
The way a PoS coin works is that it essentially pays you to keep your coins untouched in your wallet. In a PoS coin, the longer you leave your coins untouched in your wallet the more Coin age they accrue. This Coin Age mines the PoS part of the coin (Making it more energy efficient), and alot of coins have average interest rates the PoS pays out. It's not much, usually around 5% a year. Meaning if you left 1000 coins in your wallet for a year, and never touched the coins, added more to your wallet or mined with the PoW part of the wallet, at the end of the year you should see about 1050 coins sitting there, which is what I call gaining interest.
But isn't it that with PoS you'll have to mine/forge in order to earn what you call 'interest'? This means that you will eventually have to use computer power (far less than with PoW) by running a client or whatever. I don't know anything about Peercoin, but this is how Nxt works. You won't get any 'interest' if you don't run the client.
Let's keep this post unto date
MTC is likely to be in BTC-E if not cryptsy by the mid or end of this year this coin is heavily invested,
MTC is likely to be in BTC-E if not cryptsy by the mid or end of this year this coin is heavily invested,
if you want to trade send a inquiry to the marinecoin website and write how many marinecoin's you want to trade for DOGE it will be responded currently MTC buy is 0.97 sell is .82 min trade 10 MTC you will be given an offer around that range, it will be automated soon and many other coins will be added pricing based on MTC, we don't advertise Doge option yet so that it won't be abused before we get solid follower base we are very new you know.
you can always convert your MTC to EXN or DOGE on the website
I don't see the MTC>DOGE option anywhere on the website??
interesting idea... it's what crypto currencies should be... gradual release of coins over time which helps with price stability and keeps large amounts of coins out of the hands of the very few. However with all the 'pump and dump' currencies available I don't see this one taking off in the short term. People will go where the money is, and where the attention and popularity are.
Let's keep this post on top
Amazing thread this has been,
GO MTC MTC MTC
GO MTC MTC MTC
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