[ANN] Mincoin Cryptocurrency Project, World's Fastest Rare Altcoin [ANN] - page 39.

manface

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Activity: 126

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Quote from: mmitech on April 03, 2013, 09:22:03 AM

Quote from: xorxor on April 03, 2013, 01:52:51 AM

I'm gonna need another category in cryptocoin list stickie. maybe "a total piece of crap" ?

every day they release some shitcoin which is a total copy/paste of BTC or LTC , this is a joke... each time i see "new coin have been released" i get sick. maybe i will do the same and release some 10 new dickcoins just by copying the source code of BTC or LTC hey it is open source this gives me the right to, just funny people these days

What did litecoin change over bitcoin? Not much and it's $5/coin right now. Mincoins has as much change over LiteCoin as Litecoin does over Bitcoin. Stop being jealous and do something about it.

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

Quote from: xorxor on April 03, 2013, 01:52:51 AM

I'm gonna need another category in cryptocoin list stickie. maybe "a total piece of crap" ?

every day they release some shitcoin which is a total copy/paste of BTC or LTC , this is a joke... each time i see "new coin have been released" i get sick. maybe i will do the same and release some 10 new dickcoins just by copying the source code of BTC or LTC hey it is open source this gives me the right to, just funny people these days

Britainacoin

full member

Activity: 256

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Cool. I'd like to get things going with a purchase of 10,000 mincoins.

kelpy

hero member

Activity: 640

Merit: 500

Archduke of Criptoaerica, vassal of WallStreetCafe

Quote from: manface on April 03, 2013, 08:48:20 AM

Quote from: kelpy on April 03, 2013, 08:43:56 AM

Linux binary? or source?

The first post has a link to a github where you can compile it pretty easy. I checked the changes they made from litecoin and it looks legit to me. Maybe someone else can confirm.

Thanks

manface

full member

Activity: 126

Merit: 100

Quote from: tacotime on April 03, 2013, 09:14:44 AM

Obviously it's great for you if you were mining 500 mincoin blocks at less than 0.001 difficulty. Roll Eyes

If you guys really like the idea, I can fork it and put up a version that has 10 reward for the first 7 days or so and then jumps to 50 to give the difficulty a change to adapt. Then I can put up encrypted binaries and give everyone a chance to mine at the same time rather than this bullshit.

Considering you were one of the first posters in here complaining about how you couldn't work out how to download the blockchain I doubt you could do much of anything.

The difficulty doesn't matter. Satoshi was mining bitcoins using his celeron and we are mining them with GPUs and ASICs. Is it a premine if someone wakes up tomorrow and finds out about bitcoin? It's no different. Just because you couldn't figure out how to use the daemon you like to call premine or scam or whatever. Considering there is no exchange for mincoins if you truly want to be a "First adopter" I'm sure you could buy all of them for 10btc , but you don't want to and that is your own loss.

tacotime

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Quote from: manface on April 03, 2013, 08:33:45 AM

Not sure what these guys are complaining about. They released it on IRC and here and anyone who wanted to mine could. I joined about block 250 which is pretty early and mined about 10000 MNC on my 5770 using CGMINER!

A premine implies no one else could have mined it, well I joined the network about ~10 minutes after it started and began mining, so a premine this isn't.

If anyone wants to sell some more mincoins I'm happy to buy for about 0.0001 BTC each. I like the fact only 10 million are made compared to other coins. Gives me a chance to get a good amount while no one values them.

Obviously it's great for you if you were mining 500 mincoin blocks at less than 0.001 difficulty. Roll Eyes

If you guys really like the idea, I can fork it and put up a version that has 10 reward for the first 7 days or so and then jumps to 50 to give the difficulty a change to adapt. Then I can put up encrypted binaries and give everyone a chance to mine at the same time rather than this bullshit.

manface

full member

Activity: 126

Merit: 100

Quote from: kelpy on April 03, 2013, 08:43:56 AM

Linux binary? or source?

The first post has a link to a github where you can compile it pretty easy. I checked the changes they made from litecoin and it looks legit to me. Maybe someone else can confirm.

kelpy

hero member

Activity: 640

Merit: 500

Archduke of Criptoaerica, vassal of WallStreetCafe

Linux binary? or source?

manface

full member

Activity: 126

Merit: 100

Quote from: CaptChadd on April 03, 2013, 07:39:42 AM

Well, I have managed to send and receive 1 Mincoin and it gives a TX ID and updates my wallet and the person I sent it to verified receiving it, so there must be a blockchain.

I just think these other guys don't know how to use a daemon. Some here were complaining about the blockchain not downloading lol. Using a daemon is pretty simple for some people, not for others. Some people need the GUI rather than cmdline.

manface

full member

Activity: 126

Merit: 100

Not sure what these guys are complaining about. They released it on IRC and here and anyone who wanted to mine could. I joined about block 250 which is pretty early and mined about 10000 MNC on my 5770 using CGMINER!

A premine implies no one else could have mined it, well I joined the network about ~10 minutes after it started and began mining, so a premine this isn't.

If anyone wants to sell some more mincoins I'm happy to buy for about 0.0001 BTC each. I like the fact only 10 million are made compared to other coins. Gives me a chance to get a good amount while no one values them.

ChaosFox

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Certified fox posing as a cat posing as a human

Quote from: rlh on April 03, 2013, 06:35:06 AM

Yeah, I heard some people talking about this yesterday. Interesting. It really is a minimalist coin-- doesn't even have a website. You just download the thing and start.

I heard Coinotron was working on adding the currency. So, who knows. Maybe this is legit. Never hurts to mine a few and buy while they are cheap. Impossible as it may seem, we never really know what will be the next $1/unit crypto-currency.

I hope so. I mined about 30 blocks or so before I got fed up with it and pointed my miners back to LTC. Grin

CaptChadd

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Product Marketing & Promotion / Software Developer

Well, I have managed to send and receive 1 Mincoin and it gives a TX ID and updates my wallet and the person I sent it to verified receiving it, so there must be a blockchain.

rlh

hero member

Activity: 804

Merit: 1004

Yeah, I heard some people talking about this yesterday. Interesting. It really is a minimalist coin-- doesn't even have a website. You just download the thing and start.

I heard Coinotron was working on adding the currency. So, who knows. Maybe this is legit. Never hurts to mine a few and buy while they are cheap. Impossible as it may seem, we never really know what will be the next $1/unit crypto-currency.

Transisto

donator

Activity: 1731

Merit: 1008

No PREMINE ?? then Why the fuck do you need to start with a higher coin reward ? This is what low difficulty is for,

xorxor

sr. member

Activity: 476

Merit: 253

I'm gonna need another category in cryptocoin list stickie. maybe "a total piece of crap" ?

tacotime

legendary

Activity: 1484

Merit: 1005

Quote from: BasementMiner! on April 03, 2013, 12:06:09 AM

Umm, that looks like the current height.

If we can see what the difficulty was at the first block, we can determine how fast blocks were generated. Right now I see one or two blocks a minute with getinfo.

Even with 1 MH, you could probably get hundreds of blocks in an hour, I think.

Code:

static CBigNum bnProofOfWorkLimit(~uint256(0) >> 16); // mincoin: starting difficulty is 1 / 2^15

or difficulty = 0.000030517578125

Difficulty adjusts twice per day, to a maximum of

Code:

    while (nTime > 0 && bnResult < bnProofOfWorkLimit)
    {
        // Maximum 400% adjustment...
        bnResult *= 4;
        // ... in best-case exactly 4-times-normal target time
        nTime -= nTargetTimespan*4;
    }

400%!

So if our benevolent preminers went whole hog on the network, the maximum difficulty by block 2880 (when reward went down to 50) would be a whopping 0.0078125!

Show's over, go home folks.

iamrickrock

sr. member

Activity: 476

Merit: 250

Quote from: tacotime on April 02, 2013, 11:55:54 PM

Quote from: iamrickrock on April 02, 2013, 11:54:23 PM

Nope this is the first day

No, day 3. The block reward is already 50.

Let's play calculate the premine!

1 block/min

First 24 hours, 1440 blocks at 500 mincoin each = 720,000
Next 24 hours, 1440 blocks at 100 mincoin each = 144,000

Only 10 million mincoins will be made

How generous of the authors to give themselves almost 10% of the total money supply in the first 48 hours!

Program deleted

BasementMiner!

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Activity: 109

Merit: 10

Quote from: tacotime on April 03, 2013, 12:02:14 AM

Quote from: BasementMiner! on April 03, 2013, 12:00:02 AM

I don't think this is the case. At least, the smallest block count I saw was 532.

Someone needs to verify the blockchain.

The thread already did;

Quote

BitcoinMiner:
proof-of-work found
  hash: 000000be3e5210d1d5119ba86fdda33d1d2cf7510a56b9dd75d80f375a7c004f
target: 000000ffff000000000000000000000000000000000000000000000000000000
CBlock(hash=db60713d08da1541cee6, PoW=000000be3e5210d1d511, ver=1, hashPrevBlock=29ea7a52650b27963943, hashMerkleRoot=73044f8d15, nTime=1364958696, nBits=1e00ffff, nNonce=181536064, vtx=1)
  CTransaction(hash=73044f8d15, ver=1, vin.size=1, vout.size=1, nLockTime=0)
   CTxIn(COutPoint(0000000000, -1), coinbase 04e89d5b510101062f503253482f)
   CTxOut(nValue=50.00000000, scriptPubKey=033dacce7ae6c3ecff6ce51c4b84c9)
  vMerkleTree: 73044f8d15
generated 50.00
keypool keep 4
AddToWallet 73044f8d15 new
connection timeout
SetBestChain: new best=db60713d08da1541cee6 height=2921 work=5423317824 date=04/03/13 03:11:36
ProcessBlock: ACCEPTED

If that's not a clear indication of a premine I don't know what is

Umm, that looks like the current height.

If we can see what the difficulty was at the first block, we can determine how fast blocks were generated. Right now I see one or two blocks a minute with getinfo.

Even with 1 MH, you could probably get hundreds of blocks in an hour, I think.

FortPotato

newbie

Activity: 40

Merit: 0

Quote from: biodieselchris on April 02, 2013, 08:41:55 PM

I want aircoin that can be run on a TRS-80 16 KB RAM.... Roll Eyes

Yeah! I have two of those!

iamrickrock

sr. member

Activity: 476

Merit: 250

Ok I see now that a day isn't really a day in coin mining lol

So yeah it does look like they got away with mining a TON of these before anyone else knew about it, how nice.

Topic: [ANN] Mincoin Cryptocurrency Project, World's Fastest Rare Altcoin [ANN] - page 39. (Read 114841 times)