Topic: [ANN] MangoCoinz Official ANN Thread - Mine cryptocurrencies on you smart phone - page 22. (Read 164608 times)

Now there is s great idea. I will have many srele's in my wallet

I actualy like srele over old and new mcz, old and new mcz can be confusing and unclear to new users...

http://i.giphy.com/l41lGb8P9ISs6GJy0.gif

If we are not very obsessive of always having to call every things here Mangocoin~ or MCZ~, start using "Srele" (or any terms to that effect) as the only major denomination for mangocoinz rewards, transactions, and balances would be the least confusing ways of achieving what we may want.

In this case, the display would be    Total:  xx,xxx Sreles               Click for Balance in MCZ    

Now, you would start to be rewarded    1-530 Sreles (i.e., 0.0001-0.0530 MCZ) per minute mining Mangocoinz, you would get up to 60,000 or more Sreles per day.

There were plenty of  cryptos starting block rewards of 10,000 or more.

For exchange(s), they would just need to be told to trade in Srele denomination. People, including those trading at the exchange(s) in china would be immediately excited?  


As to speculation of Mangocoinz on the markets,
with or without any change in Mangocoinz denominations, the values, uses and prices of Mangocoinz would rise up very soon and steadily unlike other cryptos where miners are usually not necessarily users, traders or "bagholders."  

I am favoring the change to either  new MCZ vs old MCZ   or   Srele (=0.0001 MCZ) vs MCZ.

The reasons are not prices although you would expect to have at least short-term (& usually confusing effects) in helping prices to rise, not unusually seen in trading of equities or commodities when splits happen.

The Mangocoinz has yet to solve some of bugs for Android phones and Apple store Mangocoinz App has been anticipated to be released soon.
The price will not rise much until the time is right but Unless the iphone Mangocoinz users respond better (, " I think")and I have not seen any fast propagating effects in Android phone user bases, any supporting trading activities would be futile and short-lived just like most cryptos.

I only trade at the BANX.io where only sells of less than 300 MCZ per order are listed; not much for me to buy up. Feel free to come to put large sell orders here.  

Hi Dev,i Support 1mcz—>100mcz 

Yes lets call 0.0001 mcz 1 srele

Great!,if 1mcz become 100mcz,I will buy as many mcz as i can.Dev,pls implement this change as soon as possible.Thank you very much! Dogecoin have 300 billion coins, the price is 61 satos! Mcz will return 30k satos after this change!

Thank you for your expert clarification of "Blocks".

It is true that Mangocoinz, unlike Bitcoin, does not have block rewards with fixed block time and reward amount for a certain period of time.

It is equally true that the amounts of Mangocoins on the synced (non-hashing) rewards (per minute) have similar or at least some effects on the magnitudes and scales of Mangocoin denominations. 

mcz does not have blocks, those are syncs.  they are not blocks being mined and no work is being doned.  the blockchain page is only able to give some transparency and show the flow/generation of MCZ to users.

unless MCZ app is getting bundled in smartphones in china, highly improbably we would ever have 25M miners.  25 million users however could happen, and currently they are able purchase whole units of MCZ relatively cheap, just like how people could buy 100 or 1000 BTC for a $1 years ago.  

This is also seems to be assumption that the only future and purpose for mangoz is one where people are only are "mining" instead of investment/holding and of course using it as a currency for goods and trading. The transactions are fast because there is no mining, it is a central server/db updates users when they sync their phones.  no blockchain being kept on peoples devices, this is one advantage of a MCZ over typical altcoins, is that everyone can use it immediately without delays.  This is similar to ripple or stellar centralization, except we do not have some greedy scam devs who gave themselves 97% of the coins to inflate their marketcap and give themselves a free ride to riches on the 3% they doled out to users.  Everyone shaking or buying MCZ right now is buying into a coin with a supply that has been more fairly created then ripple/stellar and a great number of altcoins that had premines by scam devs on them.

Aren't we missing something?

=================================================================================
Good! Let's compare Mangocoinz to Bitcoin.

 BTC block time 10 min, Block reward 25 BTC   <------- This is not even scaled.

  MCZ block time 0.0-1.5 seconds, block reward (variable)  0.000-0.053 MCZ   <--------- This is highly scaled "Decimals"

https://mangocoinz.com/blockchain
==================================================================================
In order to maintain its present attractive status for all smartphone users to become miners and usesr and to stay so for the foreseeable future, there are going to be problems.

Bitocoin, other than being a de facto standard, is not popular or mineable by most users. MCZ is different and it will surpass Bitcoin.

Now, there are around 40-100 block rewards per minute (based on my estimates over the past few days) for Mangocoins and this occurred by the boasted > 2500 or higher users.

One day, God forbids, if ,e.g., 25 millions of smartphone users are active miners, and up to 1 million block rewards per minutes would probably occur by that times. Now, even if the block rewards are reduced to 0.0005 MCZ, up to 1 million x 0.0005 x24x60 or up to 0.7 million MCZ would be mined daily- the rewards would need to be more or less proportionally decreased long before that; otherwise, the mining would be ended in few weeks.

There are hundred of millions of smartphone sells per year ( and increasing.)

Bitcoin did not start first block rewards of few BTC per block and not even now.

sure I have a lot in orange wallet. but you can't mine

I have the old wallet.(orange) android  Still OK to use it as a holding place for my coins?

I agree 100% decimals and use terminology for the new decimals. JuSt like bitcoin has a satoshi.
It's the only way to do it and keep credibility

1 MCZ = 100 MCZ doesn't make sense? Most people choose to mine mangocoinz because 1. It can be mine over a smartphone! and 2. The value of mangocoinz is reasonable enoigh for all the efforts done in mining. Unlike mining other coinz MCZ requires physical effort so it requires more effort than the other. Plus! c'mon guys look at the other side where mangocoinz were introduced as the first coin to be mined profitable in a smartphone. There must be another way to gain investors without loosing the credibility of mcz to be mine easier.

as soon as this change occurs there would be a massive dump on standing orders on exchanges, inflating the number of coins in this manner not a trivial thing.  Do people really want to own 1000NewMangos at 0.0000003BTC instead of 1 MCZ at 0.0003BTC ?  and we do have this thing called decimals, what wrong with owning 0.5 MCZ if in future it trades for 0.004 or $2?  

the purpose of this change seems to be to satisfy a demand for to own "more" coins like how a government/central bank would by issuing more but decreasing the power of each coin
why would you want intentionally resist a higher demand for your current MCZ and the result of a increased price/exchange rate for them?  

whatever happens exchanges would need to informed in advanced so markets can be frozen and orderbooks cleared, it would be terrible for mangocoinz if someone accidently bought NewMCZ at the old price.

I think it's a good idea，Because this change will allow more people to participate，collect coins。

In short, having New Mangocoin vs Old Mangocoin, by name, in facts does not even need to change a thing in the database files.

It is simply a matter of how it is displayed and how it is called.  Therefore, it would look more just like this


Total:
                        

                   *This is new Mangocoin; this is the same as 125.00 old Mangocoins.

Or anythings to that effect.  

6 months- one year after the change and upgrades by the whole community, the footnote would be probably no longer necessary. 

There is a way to make this change a professional way and a way to do it in a non professional way.
Ripple labs are professional and centralised and they would not just multiply there coins just because some people wanted to.
Keep 16 million capped bit change the denomination. It has exactly 100% the same out come and results but it keeps a level of professionalism.  
If you really want to go and tell your 2.5 million people not to play the dice site then that's your choice. The reason I made it is for the mcz coin to support it and get more interest in it. With the house edge so low and provably fair then it really isn't to make money.

sorry,you are no clever enough for me to waste time for explaination.
Wow what a pleasant great person you are. I wish I could buy you a beer and talk to you all night.

So with my very stupid brain I understand that 16 mill cap of coins mined will go to 1.6 Billion. All the current users will see there coins multiplied?

It makes no sense at all. Rather have the basic denomination something different but keep the cap at 16 Mill MCZ

So changing the total mined coins available is a BAD idea. But changing the basic denomination will work. There fore 1 MGZ (or however the new denomination will be) = 0.01 MCZ

Changing the total mined coins is no good for any one.. But if you make MGZ the norm then it could work.

It is certainly a good idea to set everything up without further fundamental change before Mangocoinz becomes extremely popular.

It was mentioned before:

1) a change to 100x or 1000x numerically is not just psychological; it is for practical reasons- convenience of uses- especially running on a mobile smartphone and wallet, most transactions being expected to be small.

2) Combined increase in MCZ values and mining reward halving - usually expected when the 1/2, then additional 1/4, then 1/8, etc, of the final total planned MCZ are mined; in order to reach the final total in the long run- probably will happen much sooner than any imagination. It is not impossible that the MCZ value could rise 100x or even faster in 10 years; therefore, a mining reward of

0.05 or 0.005 (old) MCZ = 50 or 5 (new) MCZ     (i.e., x1000 in this scenario) will soon happen, unless mining will be unthinkably discontinued before that.

3) Because Mangocoinz is still a centralized system. It would be easy to change. By

Simply calling the new Mangocoin as Mangocoin; i.e. Mangocoin implies New Mangocoin and
the previously mined Mangocoins would be automatically Changed to Old Mangocoin and called as such.

4) Always use the full name (Mangocoin or Old Mangocoin). Any use of abbreviations should either use different symbols to avoid confusions or simply use old MCZ or new MCZ to avoid confusion.

Although new MCZ might mean hundredth of MCZ  or thousandth of MCZ (mMCZ); avoid using it- for the same reasons "psychological"- to achieve the effect of changing denominations; otherwise, it would be even more confusions (and it would not even be a real change) and it would be definitely better to simply use a completely different name