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.
Is there any way to purchase a number of ART coins without buying a genesis address? I can't imagine ART being able to be listed on an exchange is there isn't a circulating supply
The genesis addresses will create the circulating supply, is the same as Minereum
Alright, when will we get more details about the ICO? I think I speak for everyone when I say I'm very excited! Last question though, let's say I buy a genesis address for 250MNE, which gives me a supply of 25.000 ART. Let's say the price of ART rises to 0.1$. Can I then sell my genesis address for 2.500$, or will I only be able to sell my address for the amount of coins that have already been mined?
You will be able to transact:
1. Your available balance, which is defined by the self mining process (similar to minereum) - This is the normal generated coins that you will be able to sell on exchanges and/or transact as you wish.
2. Transact the Genesis Address directly - This is the new feature of Artemine that will allow Genesis Holders to set an ETH price on their addresses, if a price is set anyone will be able to acquire your Genesis Address for the defined amount, the buyer will automatically get the Genesis Address and the seller will automatically get the ETH in return - No need for any middle entity to do this transaction.
