Topic: [ANN] MetalCoin MTC - BACKED BY PRECIOUS METALS, RELAUNCH SOMETIME IN Q3 - page 3. (Read 24508 times)

No, I'm right here, battling battling the skeptics, while working on the coin.

I just want to say that I'm going to stick this one out. I'm hoping that my perseverance and honesty will gain support in the end. I have faith in this concept, even though it's changed considerably from it's original form. I think if enough of us stick around, we might be able to make headway in a month or two. I also believe this concept might be a little ahead of it's time and released under poor market conditions, but wait, someone will eventually offer a similar concept in the near future. We have ATMs, merchant services, point of sale systems and advancements happening everyday. I feel that altcoin trends might do a complete cycle and end up something like the gold and silver backed US bills that they discontinued in 1933. We're already close with all the incentives that altcoins are offering these days.

With so many coins released in the past 6 moths, I believe there aren't enough developers to support all the coins and their communities. Everyone is busy trying to boost their own coin and if one doesn't have a coder in their dev team, things generally end up falling apart. This coin can be an industry first and very successful if supported by a strong community, and unfortunately I really missed the 'DOGE-like community support train'. It's big business and people get greedy. Look at what happened to DOGE with Jackson Palmer leaving the community.

In some ways, all the hate on this thread might be a good sign, as we might be pulling at the right strings. I put a lot of time into this coin and I'm pursing it more for market presence than I am for monetary gain and I feel that if I stick it out long enough, someone will eventually recognize the true value in this concept. We have interest on Twitter growing daily. Until then, we have 3300 in precious metals for now, I might add a few more coins to the reserve down the road, if we need it.

There are a few people that have contacted me regarding bounties, I'll post an update when I have one.

Thanks again to everyone who supports this coin. Anyone who cares to join me in this battle, I'll be right here.

Looks like the OP bailed on this coin.. figures.

Apparently my netbook is the only thing mining at  pool.mn lol 

June 23, 2014 Update:


242mh/sec and climbing! Thanks everyone for your support! Hang in there, we have some action in the pipeline, bag holders will be rewarded in the end.

I apologize for the frequent updates but I've had to change the original concept, on the fly, over the past few days, to gain public support. Things are changing daily. I've been contacted by a few groups that have shown interest in MetalCoin and I'm currently in the process of negotiations with these groups. I'm not promising anything, I'm just saying there is interest and that there is a chance that something may pan out.

For this reason, we're going to hold off on releasing an IPO until further notice. Good news for coin holders, as the value of your coins will not be diluted by 100,000 coins. Also good news for MetalCoin as this will provide more cashflow to fund our operations.

We've paid out 1,100 in bounties so far and a pdf of the payouts and premine details can be downloaded off metalcoin.org or here --->

https://www.dropbox.com/s/iju0c7u256nm92r/MTC%20Premine%20Account%20%28June%2C%2023%202014%29.pdf.

Please let me know if I can or if I should include the forum names of the people who were paid out of the premine amount. I'll update the spreadsheet to include Tx. ID and other info as well.

Also, could the following people please post or send me their MTC wallet addresses, in order to receive a bounty for their support;

- Bharat
- crypto4jan
- NoxX
- shogun47
- a447513372
- DrSnAzZy
- Ownership
- Gaoweida
- Timeline
- adroitful
- atavacron
- Quantumbud
- ArcticWolfie
- scorpio18


Thats all for now, I'll post another update soon. Thanks again for all your support!

I see only 30 mh out of 180 mh hash that is accountable from 1 pool. Shouldn't you try to get more pools onboard?

There is some method to my madness   The values of the bounties are based on quotes people sent me for various cryptotech services. They're little on the high side to entice people to fulfill them, however the longer they stay open, the less the reward will be. I'm going post an other update in the next little while, I'm also going to restructure the IPO before I release it tomorrow.

To be honest, I thought more people would be jumping all over this coin and although I'm not complaing about 100mh/sec (and climbing, thanks everyone), I just anticipated a bigger following. Needless to say, this coin will work if it becomes tradable somewhere, perferably on our own site. I'm going to pay around 1,100 MTC in bounties tomorrow and if nothing else gets fullfilled, each coin will still be backed by $0.59 in precious metals in 30 days and $0.38 in 60 days (8640 coins in circulation). In short, we have some time to round up a good team, the sooner the better obviously. Once we get started and people see the reserve grow every few days, things will change.

I was just looking at what your giving away for bounties.. those are pretty steep awards , considering your projecting a coin to be worth 3 dollars 'usd' .

Finally hashing away 

- updated the OP
- bounties revalued
- updated the premine wallet address
- provided a new dl link hosted by dropbox
- IPO is rescheduled for tomorrow at noon local time, escrow account will be provided

Going to update the website and respond to pm's and emails now, I'll be check in here throughout the day.

Thanks again for supporting!

I realize that they are low, they were set low due to the uncertainty of the initial market price. I wasn't sure if this coin was going to be received well or not. Thats why I mentioned that all bounties are negotiable. I've already received some pm about this and and decided to index the bounties to BTC and am open to all offers.

As I mentioned earlier, I'm working on rewriting the op and website text, please have patience. I'm working like dog!

The bounties offered are laughable, if you could not  come up with these things yourself why would anyone trust your competence in other areas.

Pool just started hashing

Up and running!

0.99% fees
Powerful dedicated server
DDOS Protection
Friendly support via email, jabber or support forums
Skilled admin

Please, join us

You should update the info on the first pool listed , the op there dropped the ball , and im looking at the pool stats and no json connection is available yet

Please fix/update the first page with ALL information, since most information is available right now.

heres one..
addnode=54.194.99.126

I'll be on this forum all day, updating the info and answering questions, I'm not going anywhere.

I think i'll pass. what is pitiful is im watching the only listed pool the op has posted on the first page, not connect to the blockchain.. yet how many are mining from the wallet.. pretty unbalanced , but ive seen this type of premine before. its the same as for other coins with a lifespan of 5 days.

I'm right here, I'm just working on updating the OP as well as Twitter CCT. I can only type so fast.

About the file names off the website, I talked to GoDaddy about that issue and they said that there is nothing they can do about that, sorry for the inconvenience.

open with winrar