Topic: [ANN] microCoin MRC - alcurEX - Scrypt-Jane - nFactor - page 173. (Read 374702 times)

In this 1-week-to-market climate, mining 25% in 114 days is definitely fair.  The fact that rewards go up steadily is a completely novel approach.  Now, I think I would have done something more like having the reward steadily increase, then even out and not drop.  I never understood the point of having the rewards drop off.  Sure, it lets you say the maximum amount of currency that can exist, but it also causes deflation, which is not a good thing for a currency.

During BTC and LTC times, total minting for years would be ok, noone believe in cryptocurrency.. now it's much faster, and year of fair (!) Mining its more than enough.
Most coins minting usually doing 50% in several days or few month..

Let's be frank: this is a "fair start" relative to something like Quark, but IMO it's hardly a "fair start" as a coin meant to stand the test of time. Bitcoin and Litecoin were designed to stand the test of time. They give out steady block rewards for years, not months! Even with the 10K blocks at the start being worth next to nothing, the coming weeks will have a deluge of MRC hit the market. Maybe I'm getting the math wrong, but here's what it looks like to me:

From blocks 10,001 through 360,000 we will mine 25,500,150,000 MRC:

(10001+160000) * 150000 = 25,500,150,000

After that, we will continue to mine out 10K to 1K blocks, dropping by 0.01 per block as we generate another 4,950,000,000 MRC:

(10000 + 1000) * ((9000 / 0.01) / 2) = 4,950,000,000

Given that the average block time is targeting 32 seconds, that means we will finish with the biggest block rewards (through block 310,000) in about 115 days from the time Microcoin first launched -- and we are already on block 43323. From there, it will be another 900,000 blocks (1,210,000 total) before we hit the steady 1K block rewards. This will take approximately 333 days. That means in the first 448 days of existence, we will generate the first 30.45% of all MRC, but more importantly the first 115 days will generate 25% of all MRC. By contrast, in the same 115 days Bitcoin and Litecoin generated just 3.9% of the total supply of coins for their respective currencies. DOGE by comparison will generate around 50,000,000,000 coins in the first 69 days, then half that amount in the next 69 days, and so on. So yes, MRC is better than DOGE in the sense of being "fair", but DOGE tends to be an anomaly -- none of the other attempted meme coins have come anywhere close to matching its performance.

Incidentally, I mined about half a million MRC in one day using a single 7950. The same GPU can mine about 0.0044 BTC worth of LTC per day. Thus, a fair valuation of MRC right now at best would be 0.000000009 BTC per MRC. Except, we're still on the leading edge of the massive mining spree for MRC, so I'd say the price might be less than 1% of that in a month or two. But if hundreds of thousands of people suddenly believe MRC is worth mining, things could shift dramatically -- again, witness DOGE, which was created as a joke. If you want to try mining something "fair" that isn't standard scrypt, I'd be more inclined to go with Vertcoin (VTC). Not only is the current valuation far better than MRC, but it has the same rate of coin generation as LTC. But I do have to admit that I like the name Microcoin more than Vertcoin. :-p


TL;DR: this coin is "fair" compared to some coins, but IMO it will be mined out a lot faster than coins built to last. Plan to hold MRC accordingly. I'm done mining it for now and will sit on my 500K to see if they're worth something in a year or two. Wish me luck!

PS: Feel free to correct my math if I screwed up anywhere. LOL.

After 0daycoins I will never put a single coin on an exchange that trades COYE.  I agree we need exchanges that can compete with cryptsy, but I don't think this is it.  I'm not trying to burst anyone's bubble, and I'm not trying to insult anyone, but this is a tier 4 exchange.  This coin deserves (and will one day attain) a spot on a reputable, established exchange. 

You may be right. I was too quick to say that.
I really hope they'll get market well up. 

I wouldn't call it a crap exchange. It's a new exchange. We need exchanges that can compete with cryptsy. Who knows this exchange can actually turn out to be great. cryptsy didn't always have huge trade volume but ppl use them now even when they have huge issues. Maybe crycurex can rise to the top...

Agree that. Wait. Don't dump your coin in any crap exchange.
Doge and quark have a good support from people who will dump it hard. If you already buy it, you are in. But with marketprice now... I don't want both one.
Wait until you see what is the big news what dev talk about.

Guys i'm trying to use the GPU miner through a sock5 proxy but i cant workout the correct syntax. Any ideas?

I've added the --socks-proxy with no luck

microCoinminer.exe -o stratum+tcp://mrc.blocksolved.com:3310 -u X -p X --socks-proxy proxyip:port --scrypt --Nfmin 4 --Nfmax 30 --StartT 1389028879 --queue 0 --scan-time 2 --expiry 4 -I 15

and

microCoinminer.exe -o "socks5:proxy:port|http://mrc.blocksolved.com:3310" -u X -p X --scrypt --Nfmin 4 --Nfmax 30 --StartT 1389028879 --queue 0 --scan-time 2 --expiry 4 -I 15

It's because it's on a no-name exchange that's also selling COYE, and thus likely to be sued into oblivion.  Wait until it hits coinedup or coinex.

I don't understand how insta-mine coins like quark and doge can do so well  when ppl are always complaining its not a fair coin... and then when a fair coin with a good name that wasn't meant to be a joke comes along, we don't get much support... The world is a square box right now lol

Just shows people cry about fair coins, this one is fair but nobody is promoting it. 

Well, it's a bit of an innovation in the "fair start" category..  Rewards go up each block until block #160,000

Is there any added value ?
I know "fair start" - its fine
But is there some improvements ?

Prices are not based on ppl's opinion of its potential when they are entered onto an exchange. ppl tend to buy based on rates of inflation and how much coins that have already been mined, because the coin is so new no one is going to start bidding high just to have a massive dump and they've paid 1000% over market value.

7 satoshi per MRC means I am mining 0.03 BTC a day with my. I highly doubt it

7 Satoshi per MicroCoin? That sucks. I think that's too less..

This coin definately has potential.

I think 8 satoshi is way overpriced. A fair price would probably be somewhere between 2-3 satoshi considering coins/day.

(I am mining microcoins myself and i don't plan on selling.)

Prices may go even lower because like some one else said 100billion coins is a lot. I mine almost 2 mil/day others mine uperwards of 10-20mil/day. inflation is high right  now so don't expect to sell your coins for .00001btc just yet. Net coin is struggling to keep their price at 1cent and their block reward is 500. This is a long term coin don't be down because of current prices

for now the prices are good, please people try to keep up the value at least over 50 satoshi, would be better for everyone!

or i'll buy that 8 satoshi mrc...mmmhhhhh

Getting on a brand new exchange is not necessarily a good thing..  When aiming for an exchange, coinedup should be the bottom level exchange you try to get on, otherwise it makes it look like a pump and dump.