Topic: [ANN] Minereum - First Self Mining Smart Contract - page 164. (Read 438103 times)

Yeah that sounds about right and would be nice.

By the way, to those that sold their coins yesterday for under 90cents. All i can say is  Told you so.

Yeah, but the most important question we should be asking is what the exchange rate will be (and it should be heavily in our favor, especially since people bought at $10+). To promote MNE, we should in that example be able to get more ART for cheaper using MNE than ETH. People can still get ART using ETH, but it should be better to get it through MNE. If that's not the case then everyone should be rather pissed off and it'll look like the developer never really cared for the people that truly funded ART which are people that supported MNE.

Example of what I'd expect (not these exact numbers but conversion rate wise being in our favor):
1 ETH = 1000 ART
OR
5 MNE = 1000 ART

I personally don't have an issue with it. Though ETH is technically a competitor, it will be naive not to acknowledge, that it's had a better adoption rate. With ETH implementation it might bring new blood to the mix. Individuals that might have been uninterested in dealing directly with MNE. And if there is a substantial interest in ART, it will inadvertently result in a substantial decrease of MNE.

Sure in a way it's a middle finger to MNE as a whole, but hopefully, the decrease in MNE supply will increase the price.
Also, if someone decides to utilize MNE tech to create a token that's not a joke i.e 300 token ( yeah the vid was super funny) That will improve the value and supply will be scarce.

Am hoping for a bitcoindark-komodo situation. I know the tech is not the same but am using it as an analogy.

I believe a price hasn't been set yet. That was just an example

So what will the exchange rate be for purchasing ART with MNE?

From the whitepaper it says, "For example assuming the exchange rate between ETH and ART is 1 to 1000, users
contributing 1 ETH will get 1000 ART in their Genesis Address. This amount will then be
automatically mined for X amount of years. (The same applies for MNE contributions)"

Does that mean 1 MNE is also worth 1000 ART ? The way it's worded makes it seem that way, that's a big deal if so. It would be much better to buy MNE for ART than to use ETH in that case.

I hold the minereum too. Lot of time to have the coins, but i m really optimist on the good way he take. A little invest for me but i hope a good one.

Hi All,

Just to clarify why we are adding ETH to the ICO, and why that is important:

1. We are discussing with partners for the ICO, these partners need to get paid. If we pay them in MNE this will create an incentive for them to sell MNE and therefore it will be bad for the MNE ecosystem as lots of MNE will be in few hands.

2. While Minereum launch was an isolated announcement on bitcointalk, Artemine will be much bigger than that, and with bigger audience we need to facilitate the way people can join, for new comers ETH is the option in (all) ICOs.

3. By adding ETH it doesn't mean at all that it's bad for MNE, for the contrary:

First, there is more likely wood for new people to join Artemine, and new people that know about Artemine will also know about Minereum for the first time.

And second, All received MNEs will be burned in any case, so the more MNE join Artemine, the less supply there will be in Minereum which is good for the ecosystem.

4. In Artemine, we are allowing users to put their Genesis Addresses for Sale (Automatically), that means, if you are a MNE holder you will have the option to create one (or more) Artemine Addresses, and if you convert your MNE into ART, you will not only get ART but you will also get access to this new market we are trying to create.

About the conversion of Genesis Addresses:

- Users will be able get Artemine by participating with MNE, this includes Genesis Address Holders. They will be able to send the (available) coins from their address and convert into Artemine.

I hope it clarifies, we know it's not easy to please everyone but after the long discussions we had in our team this is what was decided.

I don't know about you all in this community but this smells like something is rotten in Denmark.
To me it feels like a sneaky act to bring in ETH to raise money and this act alone moves MNE away from it's sole believe that it should be carried by tech and support by its community. Besides it is an insult to all the supportive bag holders if this thing goes through since they did a lot of unpaid PR for MNE.  

I hope Dev quickly comes around just to state that he made a mistake even considering ETH. This does not make sense to me yet besides a desperate attempt to raise capital for something, The initial thought was to exchange MNE to ART and have MNE burned along the process. I can not imagine that the ETH gets burned so there you go, it has become a money thing all of a sudden.

Screwing and scamming can easily substitute each other so be very careful how to proceed. If done nasty it will stick forever, that's for sure.

There must be a benefit for MNE investors since MNE is directly involved in this whole exchange thing. Otherwise it would have been smart not to involve MNE in this whole venture in the first place. But its too late for that so come up with a good solution for an issue that is created by (hopefully) a temporary laps of reason.




 

I know this is just the first draft for MNE 2.0 so please consider the following for future drafts:

MNE 2.0 is Artemine, so Artemine is the new version of MNE. It has to be a new token because MNE is based on an immutable smart contract. If it were a regular coin, Artemine would have been called a patch or an update for MNE. There wouldn‘t be an ICO for sure.

If the dev says that MNE will be developed independently then please tell me why anyone would use MNE when Artemine is simply the better and updated version of MNE? It will have what people have missed in MNE. For example, transferable genesis addresses or selling them to name a few things. If MNE is supposed to have a future, there should be an updated roadmap asap, and this roadmap should include MNE-exclusive features that Artemine won‘t have.

With MNE and ART  being very similiar otherwise, but the latter having better features, it seems likely that MNE will never recover on the exchanges, let alone have a future. This should be taken into account when planning the ICO. MNE should absolutely enjoy preferred treatment when it comes to the contribution methods. If it won‘t, the dev will have to deal with angry investors for a long time.

As for Artemine,  I don‘t see the incentive to lock up your funds for 47 years. MNE was a free airdrop and each and every day you get some interest by receiving the auto-mined MNE you have nothing paid for.
If you buy an Artemine genesis address, however, you pay upfront for every coin in that address but all coins will be locked up for years and only be released in tiny increments through the mining process. Where‘s the gain in that? That‘s like buying an Asic miner and then immedeately stop mining when you have have mined enough BTC to pay it off. You will actually lose money this way due to the missed opportunities to invest your locked up funds in.
The easiest solution would be a bonus structure of some sort. If you do x, e.g. participate early in the ICO, participate using MNE etc., you‘ll get more coins in your address.

Still, 47 years seems too long a time horizon for 99% of people in crypto if you have to pay for it. You could get creative with the mining algorythm though. Addresses with fewer coins could mine faster/slower than those with more coins, or  you could let people decide upfront about the total time it takes to deplete the address and so on. Maybe even let addresses partially refill themselves after a certain amount of time if certain conditions were met. Simulate mining power so that addresses can mine faster than others if the holders sacrifice/invest something. That could be MNE as well. It would  speed up the mining process. There are endless possibilities.

What will be the purpose of MNE, and how will the original supporters of minereum (MNE holders) be rewarded for supporting this project? I can't imagine minereum basically just creating a new coin and giving the MNE holders the finger

One more thing about the ico, if you are going to be asking ETH from new investors, your identity HAS TO BE KNOWN. It is part of how icos work right now if you want any serious consideration.

This would only be fair that the first ICO round be MNE only.

Hey dev, I sent you a PM discussing the proposals people have regarding this ico. The first option is having this ico as MNE only considering there should be a big incentive for supporters to move to this new coin. The second option, if eth has to stay, is that MNE supporters get a bonus percentage of ART when they participate in the ico or make the ico more expensive for eth in comparison to MNE. Both options will help supporters of the first coin.

I think so as well, we are waiting this as if thats why it is MNE 2.0 and will work side by side. We are really screwed if ETH will also be a way to join the ICO.
It will be the best if MNE will be the only one, and all bought tokens will be burned.
And where is the point that the dev told that MNE 1.0 genesis addresses can be converted to MNE2.0 addresees?

Well Donkey, how do you feel about ETH being suddenly brought in the ICO?
You should have an opinion right? Anxious to hear your feedback on this? Still 100% sure about the reliability?

Good update, but i have one concern about allowing ethereum to participate in the ico, it should be minereum only

At least was opened for everyone,what about bitcoincash only for the bitcoin owners....and what about byteball only for bitcoin owners.... 

Davood:
There will br a bonus or better exhange rate to use mne in ico the dev is not stupid.

What about the ico factory guys thats a very nice update to the token creation service

I agree with this statement 100%.

If you accept ETH for the ART, both the tokens (MNE and ART) fail.

If you accept only MNE, both the tokens can benefit.