Topic: [ANN] Minereum - First Self Mining Smart Contract - page 107. (Read 438103 times)

Personally I think they should have both companies run side by side. It'd be wise to allow people to invest in both coins using the other, like pay your monthly World App fee in Art, invest in the lottery in Art, fund your ICO with Mne, ...

IMO the current trading level is so low that only the Genesis holders can dump their MNE on you. Take a look at the historic trend line, MNE only spikes when something big is announced (first exchange going live, first announcement ICO) but does not spike when roadmap updates are aired. This means that it is a complete speculative coin and basically nobody believes in the purpose of the scheduled development in the roadmap.
Be fair, through the token release service nothing good has been created and the Pokemon game is a joke. Lottery won't really work considering the low supply so what is in it that would really make sense.

I still keep an eye on it only because MNE is subject to high volatility so if something happens on the exchange level (e.g. Bittrex added, screaming for this for 3 months now) it could be a game changer. Don't expect it will generically increase over time because investors don't think this coin has purpose or a legitimate potential for existence.

Besides, the burning of coins is irrelevant since this has a temporary effect only on the CMG, the coins offered today on the exchanges will not change. Besides the Genesis mining will increase the supply back to 1 mio coins in about 4 months and if any form of development lacks it's back to square one.

On top of this I think that once ART is listed on the exchanges its very doubtful that there will be focus on MNE from the Dev team, sofar most of it are just hollow phrases but I would definitely be proven wrong

Still the price of Minereum not go up and i not received my MNE token from freewallet org multitoken app, they say that still search the issue but maybe i will not get them during Artemine ICO.

yeah, i have seen most of airdrop coions doing the opposite, adn this one has the chance of really blowing up due to burned coins, just remember byteball after the second airdrop, the supply drastically go up, therefore lowering the price drastically as well, but in this case, the supply will be lowers, so in my opinion, the price will go up, regarding to economics, but one thing to consider as well, is that maybe people are losing trust in this coin, because there is almost zero real use case, the above posts are reasonable on speculating this as a scam. I am a genesis holder, but I also see their point of view.

There are lots of coins that are seeing HUGE gains and public interest from announcing coin burns. I think we need to raise awareness and spread the word about just how many MNE is going to be burned. Over 60% is a very large amount.

There are still some big ART investements despite of worse MNE/ART rate.
https://ethplorer.io/address/0xcf24fa5606bbe4dab3ba24cb586b4353fe83094a#ready

Biggest over 5k today. We really need to get MNE to be burned right away for creating pressure to buy.

Edit.

Seems like the price is floating around 50k sats quite steadily. Good starting point for serious growth.

and those received MNE tokens might be 1st dumped before the promised burn,what a clever execution..

MNE participating in ICO probably will be burned by dev when ICO end, in one transaction.

You're absolutely right, it's pretty shitty the dev isn't burning the MNE as they're received, thus leaving the circulating volume to stay the same while the MNE price drops in value, it should be 2 to 3 times this price...

yeap, but would be nice if dev would burn collected MNE tokens now, it would be great and people will find out that from 1 millions tokens left less than a half it could increase price more than x2, but thats just my thoughts

But with prices down. It comes out to just about the same $$ price...

i see activity in artemine ICO already is little, cause nobody wants to buy tokens for 15 mne 1k arte. these bonuses are too much different in size one from each other. better would be bonuses for early investors 20-30%, but here is more than 100%

Will CMC automatically show the reduced supply once the MNE are burned or would someone there have to manually adjust the numbers? As far as I understand it, a burn address is an address that can only receive but not send token. So technically the MNE will continue to exist but they will never be used again.

I'm trying to understand what Artemine actually does but this is my understanding... Minereum/Artemine allows you to create a token on the ethereum network in a unique way. Instead of creating a token directly on the network with a set number of tokens, you can create a token that is mineable alongside the ethereum network. Now what's cool about this is...So let's say I want to create my own token using MNE or ART, I can create a starting supply of 10 million coins, and then have each ETH block mine 50 tokens per block. I can then set rules so the block splits every 10,000 blocks and then end result would be 20 million coins...This is why a "genisis block" is emphasized in the whitepaper. If I started a token, I would also have to choose a "genesis block" to start the mining process. I could start now at the current block or whenever...but you can't create a MNE/ART token on a past block....that just wouldn't make sense. Now once you create a token that is being mined, you can then choose a way to distribute those tokens that are mined. That's where this gets really clever. Who gets those mineable tokens? Well there are a million possibilities. You could have them sent to wallet holders with a proprietary wallet (staking)...you could have them sent to the developers to fund the development of the project, etc.

I think genesis addresses cannot receive MNE.

Just to clarify something...is it not possible to withdrawl MNE from Livecoin back to Genesis address?

two things:
* i fell for it as well.
* Genesis Holders will regenerate MNE in a few months. Then, there will be another "big" announcement, maybe even this useless pokemon app and then genesis holders will cash out again.
And lastly: mass-genesis-holders could not cash out all their stacks in the beginning because this would have crushed the price. Doing this via an ICO is brilliant and elegant. Once this hits the exchange, they will drop ART hard on every potential investor. With the gathered ETH, they will do some marketing before ART launches on an exchange.

Your summarize is done pretty well if you see what happened so far, just because this is obvious now.

But then you're still 2 steps behind the dev.

You have to think a bit further. If so, both MNE & ARTE would end in a total fail because trust is lost.

ARTE is directly linked to MNE though most of the investment came via MNE.

If the dev wants to give value to ARTE, he has to give value to MNE beforehand.

How to do so?
The dev could have cashed out a lot of BTC the last months.
Maybe 5 times enough to pump MNE to above $20 while the ICO runs.
Combined with an update on MNE, many of the initial MNE holders would jump back into MNE, knowing the fact that that's the way the dev does it. And he delivered again this way.
The real FOMO starts.

But now they have already sent their initial MNE stack to ARTE ICO, so they would have to buy the remaining MNEs, knowing the other facts that are obvious now.

The circulating MNE supply will be halved very soon, so MNE will be twice as volatile.

Awareness has been spread through many crypto channels, so a lot of additional investors could finally jump in.

What's the better: Run an ICO and collect 500.000 x $2, so $1 million in total or run the ICO collecting 500.000 x $20, so $10 million.

And again, this is seen from today.

By end of ICO, we'll probably talk about 800.000 burned MNE in my guess and also a lot ETH will be spent then.

Dev won't keep his mouth shut for the next 28 days while the ICO flatlines.

I totally agree with you guys that you could have done this much better if you go the traditional ICO way.

But the dev ain't no traditional guy, so think twice before you'll come to a conclusion.

Do you really think he'd dig out his own grave by showing you all his immense swap into ART at the artemine genesis explorer in live time ?
If it's him then it's just because he wants you to think exactly this way.

Just keep one of the most important crypto attitude in mind: If all are bearish be bullish!

I know it, because I'm confident that the artemine can reach a great deal when it's launched into coinmarketcap. so wait for the next chapter.

The same one that holds tons of genesis accounts now on both coins.
It's was a very smart trick being played.