That is a bit hard ofc, but here are my thoughts.
If you have the same amount as the white paper says as reward, it is a risk that the wast majority of the coins that are in existence are from the mining. That will likely scare of many investors In the ICO, since they will not have a big part of the coin supply. And the key here to my opinion is that this is Not MNE, that was an airdrop, in ARTEMINE, people actually pays to get this coin and have value.
If you lower the reward, then the supply in the beginning will be increased by the public mining, but not in any numbers that would scare of investors. Furthermore the price point is more in line with the supply of the coin in the early stages. I do also think that the Gwei cost will become Lower in the future, since the network is growing, and will evolve.
Lastly, I do think that the public mining is impossible to have as a feature that will be used in the long run, it will be used in the beginning when the supply is low, and in the future when the price is higher then the cost of the mining.
So, I think the idea to lower the reward is a good idea!
Topic: [ANN] Minereum - First Self Mining Smart Contract - page 136. (Read 438121 times)
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hi,
Thank you for your analysis.
Internally we are actually still having discussions on how the Public Mining reward should be definitely done.
In our current draft we are proposing 0.00032 ARTE per call, however, we are considering lowering this to 0.000032 (or even lower).
We would like to ask the community for the opinion on this. This process will only be defined once and the function won't be able to be changed once it is deploy on the network so we are glad to hear as many opinions as possible.
We have to take into account the following:
1. The gas used per call is approximately between 25000 and 55000
2. Users will be able to call the function as many times as they want
3. Multiple calls can be done simultaneously by different addresses
We are looking forward to hear the community feedback on this
Why would you lower the amount of ART to 0.000032?
The more ARTE available for mining, the more the supply
The more the supply, the lower the price. Lower price, unhappy investors
It will be way best now just to promote the upcoming ICO and not speculate about prices.
Prices will be decided by the market once the ICO is successfull, so please focus on that first instead of this.
Prices will be decided by the market once the ICO is successfull, so please focus on that first instead of this.
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hi,
Thank you for your analysis.
Internally we are actually still having discussions on how the Public Mining reward should be definitely done.
In our current draft we are proposing 0.00032 ARTE per call, however, we are considering lowering this to 0.000032 (or even lower).
We would like to ask the community for the opinion on this. This process will only be defined once and the function won't be able to be changed once it is deploy on the network so we are glad to hear as many opinions as possible.
We have to take into account the following:
1. The gas used per call is approximately between 25000 and 55000
2. Users will be able to call the function as many times as they want
3. Multiple calls can be done simultaneously by different addresses
We are looking forward to hear the community feedback on this
Why would you lower the amount of ART to 0.000032?
The more ARTE available for mining, the more the supply
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hi,
Thank you for your analysis.
Internally we are actually still having discussions on how the Public Mining reward should be definitely done.
In our current draft we are proposing 0.00032 ARTE per call, however, we are considering lowering this to 0.000032 (or even lower).
We would like to ask the community for the opinion on this. This process will only be defined once and the function won't be able to be changed once it is deploy on the network so we are glad to hear as many opinions as possible.
We have to take into account the following:
1. The gas used per call is approximately between 25000 and 55000
2. Users will be able to call the function as many times as they want
3. Multiple calls can be done simultaneously by different addresses
We are looking forward to hear the community feedback on this
Why would you lower the amount of ART to 0.000032?
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hi,
Thank you for your analysis.
Internally we are actually still having discussions on how the Public Mining reward should be definitely done.
In our current draft we are proposing 0.00032 ARTE per call, however, we are considering lowering this to 0.000032 (or even lower).
We would like to ask the community for the opinion on this. This process will only be defined once and the function won't be able to be changed once it is deploy on the network so we are glad to hear as many opinions as possible.
We have to take into account the following:
1. The gas used per call is approximately between 25000 and 55000
2. Users will be able to call the function as many times as they want
3. Multiple calls can be done simultaneously by different addresses
We are looking forward to hear the community feedback on this
Hello MNE community, I am considering a large investment in Minereum and Artemine but have some questions I was hoping someone on here would be kind enough to clarify for me.
-Why is the Minereum way of mining superior to traditional mining infrastructure that most of the crypto world relies on? Is this algorithm that mines "on the fly" quicker or more efficient in someway?
-Does Artemine mine the same way is Minereum?
-What specifically am I purchasing in the Artemine ICO? I see on previous discussions you're technically purchasing a Genesis Address. So, if I were to purchase 100k Artemine, I'm really purchasing one Genesis Address that will generate 100k artemine tokens over 60 years, correct?
Thank you all!
-Why is the Minereum way of mining superior to traditional mining infrastructure that most of the crypto world relies on? Is this algorithm that mines "on the fly" quicker or more efficient in someway?
-Does Artemine mine the same way is Minereum?
-What specifically am I purchasing in the Artemine ICO? I see on previous discussions you're technically purchasing a Genesis Address. So, if I were to purchase 100k Artemine, I'm really purchasing one Genesis Address that will generate 100k artemine tokens over 60 years, correct?
Thank you all!
1. The self mining principle is more efficient in the sense that no miners are directly required for the generation of coins. For more information on this process refer to the whitepaper and/or news articles that can be found on the initial page of this thread.
2. Yes Artemine self mines in the same principle as Minereum, in addition, Artemine will allow Public Mining.
3. When you contribute in Artemine you will be getting in return a Genesis Address that will generate the allocated amount of coins for a period of 100000000 ETH Blocks, the period in time depends on the ethereum blocks duration over time, at current avg block time of 20 seconds it will last for about 60 years.
Hmm, perhaps this is a dumb question, but are there any plans or is it possible to change the avg block time of ethereum?
It is possible but it is completely outside of the dev's power.
In minereum beside genesis adresses most of the investors in loss including me.
In my opinioun Arte is our only chance to save that loss. And devs 1 to 10 ratio is very good for us, he is trying to raise some funds and save our loss too.
I'm thankful to him for this effort. But beside that, he didn't post weeks or didn't say anything for weeks, he caused price drop that much. And he is telling ico could be in 2 weeks but there is nothing yet. If he is finding investors out on face to face, that's ok, but if he is counting on here or some crypto sites, that would fail.
Only minereum holders would become arte holders, and not a single eth raise if it continue like this.
For success of ico, there should be a demand to raise mne's price to minimum 35$ or if anybody wants to invest, just buy mne and invest with it. For a good demand, needs good project, good publicity, good campaining.
there is a sloppy project, very little publicity and no campaign.
I hope he knows what he is doing.
In my opinioun Arte is our only chance to save that loss. And devs 1 to 10 ratio is very good for us, he is trying to raise some funds and save our loss too.
I'm thankful to him for this effort. But beside that, he didn't post weeks or didn't say anything for weeks, he caused price drop that much. And he is telling ico could be in 2 weeks but there is nothing yet. If he is finding investors out on face to face, that's ok, but if he is counting on here or some crypto sites, that would fail.
Only minereum holders would become arte holders, and not a single eth raise if it continue like this.
For success of ico, there should be a demand to raise mne's price to minimum 35$ or if anybody wants to invest, just buy mne and invest with it. For a good demand, needs good project, good publicity, good campaining.
there is a sloppy project, very little publicity and no campaign.
I hope he knows what he is doing.
Hello MNE community, I am considering a large investment in Minereum and Artemine but have some questions I was hoping someone on here would be kind enough to clarify for me.
-Why is the Minereum way of mining superior to traditional mining infrastructure that most of the crypto world relies on? Is this algorithm that mines "on the fly" quicker or more efficient in someway?
-Does Artemine mine the same way is Minereum?
-What specifically am I purchasing in the Artemine ICO? I see on previous discussions you're technically purchasing a Genesis Address. So, if I were to purchase 100k Artemine, I'm really purchasing one Genesis Address that will generate 100k artemine tokens over 60 years, correct?
Thank you all!
-Why is the Minereum way of mining superior to traditional mining infrastructure that most of the crypto world relies on? Is this algorithm that mines "on the fly" quicker or more efficient in someway?
-Does Artemine mine the same way is Minereum?
-What specifically am I purchasing in the Artemine ICO? I see on previous discussions you're technically purchasing a Genesis Address. So, if I were to purchase 100k Artemine, I'm really purchasing one Genesis Address that will generate 100k artemine tokens over 60 years, correct?
Thank you all!
1. The self mining principle is more efficient in the sense that no miners are directly required for the generation of coins. For more information on this process refer to the whitepaper and/or news articles that can be found on the initial page of this thread.
2. Yes Artemine self mines in the same principle as Minereum, in addition, Artemine will allow Public Mining.
3. When you contribute in Artemine you will be getting in return a Genesis Address that will generate the allocated amount of coins for a period of 100000000 ETH Blocks, the period in time depends on the ethereum blocks duration over time, at current avg block time of 20 seconds it will last for about 60 years.
Hmm, perhaps this is a dumb question, but are there any plans or is it possible to change the avg block time of ethereum?
tnx for the update dev
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hey, a mathematician !? 100MNE = 400$
well right now yes, but since you can buy ARTEMINE in both ETH and MNE in 1/10 ratio, and the value of Ether is around 400 dollars, the value should be around the same.
But I don´t know where you got the 400 dollars per MNE from in my calculation.
He says 100 MNE for 400$, which is pretty accurate.
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hey, a mathematician !? 100MNE = 400$
well right now yes, but since you can buy ARTEMINE in both ETH and MNE in 1/10 ratio, and the value of Ether is around 400 dollars, the value should be around the same.
But I don´t know where you got the 400 dollars per MNE from in my calculation.
Well, that is the assumption in the developers whitepaper, based on the ratio. If you pay less, since you have bought your MNE cheaper, you the calculation is even better! I calculated the maximum you would have to pay.
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hey, a mathematician !? 100MNE = 400$
well right now yes, but since you can buy ARTEMINE in both ETH and MNE in 1/10 ratio, and the value of Ether is around 400 dollars, the value should be around the same.
But I don´t know where you got the 400 dollars per MNE from in my calculation.
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
i think no one want to join this ICO by ETH ..
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hey, a mathematician !? 100MNE = 400$
well right now yes, but since you can buy ARTEMINE in both ETH and MNE in 1/10 ratio, and the value of Ether is around 400 dollars, the value should be around the same.
But I don´t know where you got the 400 dollars per MNE from in my calculation.
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hey, a mathematician !? 100MNE = 400$
So, now I have really thought about what you write in the white paper, and made some math you can think about.
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.
So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.
The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number. 3200000000*0,00032/2
So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.
So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.
Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?
Hi Everyone,
Here is the version 0.2 of the Artemine Whitepaper: http://artemine.org/ArtemineWhitepaperDraft0.2.pdf
Few updates were done:
- The Artemine token symbol was changed from ART to ARTE, this is to avoid conflicts with other previous existing projects
- More details on the Genesis Addresses Properties (Transfer, Mining Process, etc.)
- More details on how the Circulating Supply is calculated
- More details on how the Public Mining function works
Here is the version 0.2 of the Artemine Whitepaper: http://artemine.org/ArtemineWhitepaperDraft0.2.pdf
Few updates were done:
- The Artemine token symbol was changed from ART to ARTE, this is to avoid conflicts with other previous existing projects
- More details on the Genesis Addresses Properties (Transfer, Mining Process, etc.)
- More details on how the Circulating Supply is calculated
- More details on how the Public Mining function works
Dev, will I be able to send from my Genesis address and make that address an ARTE genesis address too? or I have to necessarily use a different address? thanks in advance:D., the project is getting good, and i hope ARTE will have their own projects it is based upon
. Hello m8es!
Can anyone please explain me in a few simple words - what are the main points of this coin and Technology itself? Ive read WP and all the stuff, but nowdays lots of beautiful words appear with no sence inside.
What is the usability of this coin and how it will be able co compete with hundreds of others?
The main thing or the selling point of this coin is the slef mining itself, it doesnt need to have expensive GPUs. neither need electricty, it is mining as per ethereum blockchain, thus like investing in a company in the real world waiting for the appreciation value, and in this case once the demand has grwon very large enough, since the distribution is controlled and the supply is always kept at minimum and will be max only after such years, there will be no dumping happening and liquidating of assets is controlled and as for me thats a good one. Can anyone please explain me in a few simple words - what are the main points of this coin and Technology itself? Ive read WP and all the stuff, but nowdays lots of beautiful words appear with no sence inside.
What is the usability of this coin and how it will be able co compete with hundreds of others?
Please Dev, I took a closer look at the new whitepaper.
It is written about the ICO Factory that it will be an update of the current Token Creation Service related to Minereum.
Does that mean one part of the Artemine project will consist in improving/updating some other parts of MNE?
If valid, why did you include the ICO Factory into the Artemine whitepaper as you already stated both AMNE & MNE will go on separately?
Thank you Dev.
It is written about the ICO Factory that it will be an update of the current Token Creation Service related to Minereum.
Does that mean one part of the Artemine project will consist in improving/updating some other parts of MNE?
If valid, why did you include the ICO Factory into the Artemine whitepaper as you already stated both AMNE & MNE will go on separately?
Thank you Dev.
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