Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 101. (Read 1369788 times)

I agree completely with what you said Rick. It makes sense that if the amount of coins generated decreases and the demand stays the same, then the price should go up. Let us hope for an increase in demand.

Hello Community,


Is there a updated bootstrap for mintcoin at all?

Please advise.


Regards

Steak Cloud Support

estimated MINT supply over the next 10 years?

the information is needed for http://alt19.com/19/cryptocurrency.php

thank you

Yes, and no. The rate adjustment will probably attract more "trader" activity to the coin, as there will be less downside potential from "losing out" from not participating in minting. However this plays out in the market is anyone's guess initially. Some may decide to dump the coin because they are miffed that they aren't minting as many coins minting. Who knows But if the coin is minting less, then it's scarcity will rise in the long-run, which tends to mean a higher value per coin.
Since the minting reward will be decreasing, the coin's nominal value will be a "devaluation" at a lower rate. In other words... the nominal devaluation of the coin will be slowed relative to other cryptocoins and currencies, which ultimately over the long-run will probably push the price per coin up. Everything is a function of supply and demand. The increase in the supply is going to be slowed, so if demand stays the same, the price will rise. In other words, all else equal, you will be minting less coins, but the value of the coins will tend to push higher at a faster rate. Ultimately minters are not affected by nominal devaluation. Any minter will receive more newly minted coins at the same rate as everyone else so through the minting process, as more coins are added to the supply, the nominal value goes down, but the real value of your holdings stays the same.  So basically, if you are a minter, the net affect on real value stays exactly the same, and if you are not a minter, mintcoin becomes somewhat more attractive to own and trade.

I hope that makes any sense at all 

This brings up an interesting relationship. What is the ideal rate? 0% 1% 5% 10% 20% etc. Bitcoin has a hard cap of coins, this means ultimately a 0% devaluation rate. The problem with this is if the nominal value of the coin rises too high, it becomes unfungible, and worthless for to trade. Mintcoin solves this problem by 1) having a lot of coins to begin with that were spread out via PoW in the intial distribution and 2) having a healthy minting rate.
If you go too far in the other direction... a minting rate say 100% per year, your coin's nominal value devalues too much and becomes less attractive to even own by anyone who doesn't participate in the PoS process. If the minting rate is too low, say 0% or even 1%, so few people will take the effort to secure the network via PoS, and you get a problem that way too.

Mintcoin is gradually decreasing to 5% which IMO, I think will be a perfect balance for network participation, continued fungibility, and rarity.  This is the science of what makes a good currency and it can be a matter of much debate. So far Mintcoin has survived 20% last year and 15% this year (some might argue, barely survived, lol) which I think most would agree is really pushing on the "too high" side. Next year will bring about the 10% rate which should be interesting to see how the markets respond. 2017 we are down to 5% - interesting times! 

So does this mean MINT is going to become even more "pumpy" so to speak? It increases the pumpability of the coin? Not really sure how this affects it.

I just hope you will be rewarded handsomely for your effort and dedication in holding MINT long term. Cheers!

It will just be a house cleaning thing to speed up the forum. This is a massive thread

That is a nice looking timer. Got it opened in a tab now.

I can confirm removal of images I've posted.  The removal is not always timely and reasoning behind the removal is usually not communicated.   

I think it is also due to the removal of some images being displayed. I have noticed a lot of images don't work or the actual image has been replaced with just a link to the image. I think it is mainly on newer accounts. Not sure what the cut off point is though, maybe member, or full member.

It is not super consistent, some days it is faster and other times it is slower. The target is roughly a block every 30 seconds though and is pretty accurate over long period of time.

I created a Countdown Timer here...
http://www.arewethere.yt/MINTCOIN/30183.htm

I have been updating it every few days, and it seems like the blocks are going a little slower than 30 seconds. 6 days ago I updated it within a 5 minute window estimated upon 30 seconds, and today when i check the calculation it is about 3 hours behind schedule, so not much.  I just updated it again, now, to within an hour or so of accuracy based on 30 second blocks.. (added about 2 hours and 45 minutes to the countdown).

The time before, the blocks were going faster than 30 seconds, so I had sped up the timer.

All in all, I agree that it looks pretty consistent and reliable that it will be November 30th or December 1st when the increase in the money supply will be slowed down to about 7%... basically we are minting coins at about 70% of the minting rate ...so roughly 70% of 10% is roughly 7%  we can expect as far as the increase in the money supply over the coming year.

 

Did some calculating again with these numbers.
We approached around 2900 blocks per day average since this post.
So i think the date will be 30 Nov or 1 Dec this year.

100,000,000 coins would generate 5-Million+ coins per year for life! + compounding and transaction fees. I'm with you, I keep trying to buy a little more here and there whenever I have extra funds. Mintcoin is a much better coin today than ever before. There is basically no issues with its functionality, and it is fundamentally sound. Whatever few remaining issues such as RAM issues are being worked on, and with this steak cloud minting service coming out soon, anyone who doesn't want to run a hot wallet will be able to use them and MINT coins. I try to buy at least 1 or 2 million coins per month. Who knows, maybe one day MINT could allow me to retire, and live off of the mintings. if we all only sell a fraction of the coins that we mint, then our balances and mintings will still continue to grow; we could all keep buying until we could live off of that fraction of our mintings. Might take years to get there, but I have reason to sell my coins. Mintcoin works, and does what it's supposed to do. That is all it needs to do to provide a lot of value.  Even if Mintcoin rises a lot, like to where 1 MINT = $.01 USD, I think I would never dump, but just only sell a fraction of what I'm minting. And the more it grows, I can use it to give back to those in need. I'd like to be a philanthropist someday. A MINT philanthropist!

Still holding here,
I've been with mintcoin from the start, mined some, and invested 20 euro!
Ive seen them under 5 satoshi and rise to above 40 but I never sold them!
Maybe if I sold them at the highest point i've couldve gotten alot more but I believe.
At the moment I have 1,4m coins and 300k of them are minted.
But i'm really going to do my best to get more the coming weeks!
I really want like 10-100 million coins, because I still think this could be one of the big coins.

Just want to say keep going mintcoin team I think we are doing really good!

You're welcome!

We will have something to put forward in the middle of next week and will be ready to trial our first "Steakers" by the end of next week.

Thank you for your developments. Do you have an ETA for the pooled proof of stake concept? Are we still talking like 3 months away from release still or what? It would be nice to have an idea.

Hi community,

Rather than respond to each individual post I am going to tie up all loose ends in this post.

First of all let me make one thing clear, we understand the pressures and strains of working in digital currency as the first thing people do when a new service or altcoin is launched is call it a scam. We have been around for over a month now and have already managed to gain the trust of altcoin communities due to our dedication to providing support, attention to detail and putting our users needs first. Steak Cloud has managed to break into a very hard worn market simply by doing exactly what it says on the tin. We pay our miners based on the best altcoin sell value of altcoins mined and buy supported coins based on the cheapest sell orders available through our API, at present we can only support 1 exchange API for every supported coin and although this will be revisited in the near future to support multiple API look-ups so Steak Cloud can purchase the cheapest supported coin in order to give miners the best value possible we are still doing a pretty decent job with out current setup, if I was to give you an example, earlier this week we received a request to move our STEPS API from Bleutrade to yo-bit as the variance between the two exchanges was 1000sat, after one day the priced moved on par with Bluetrade and now there is no cheaper exchange and more than likely will see Bleutrade be the cheaper option soon. We are however happy to switch API support to different exchanges provided the request is limited to one switch per coin per week, until we implement our new multi API look-up update.

As far as our Minting pool goes and in terms of imposing penalties for early withdrawals, we are acting in the best interest of our mission statement "Increase The Value Of Altcoins On Exchanges" in order to live up to our mission statement we look at what damages altcoin value most and that is first and foremost individuals transferring large amounts of coin to exchanges and then stacking up sell orders on top of the cheapest driving down the price of the altcoin. Go to any exchange and watch POS coins especially, you will notice how fast a POS coin can drop in value in apposed to a POW coin due to the fact that POS holders move around with much bigger stacks of coin and are more inclined to dump coins when they see a lack of Dev activity or market manipulation. We have no ill intentions and are going to be working very hard to prove ourselves over the coming months and years to come.


I would like to go a little bit deeper into our vision here at Steak Cloud and give our communities and DEV's a little bit more insight into our vision as a DEV team. We have the collective experience within crypto that stretches the length of Bitcoins birth to date. We have looked at where others have failed and have identified why and how, we have learned from the mistakes of those who have laid the foundation for the future of digital currency products and services, yes some of them have left a bad taste in the mouths of investors, communities and Devs, as well as massive dents in the framework of this dynamic and exciting new economy, however, there are many services out there striving to offer a better digital currency community and economy and at Steak Cloud we strive to do the same thing. We are in the process of placing ourselves into the current framework without forcing a product that no one needs or promising extravagant incentives that we cannot deliver. We like to keep things simple and have used available resources to build Steak Cloud thus keeping fees to a minimum and offering maximum profit to miners while maintaining a high service level as expressed by our users.

We are excited about the prospects of our future development and are always thinking about user security, Steak Cloud is a long term project and we are dedicated to growing our user base on a foundation of trust, support and value. We do not have multiple people managing any one platform, we do not have multiple people accessing our servers and we never plan to go that route as those are just two examples of the mistakes fallen providers have made that we were lucky enough to learn from early on. We will continue to offer the digital currency communities reassurance as and when it is needed and will do it with a smile on our faces as we work to place ourselves as a household name within Altcoin communities and Dev circles.

Thank you for choosing Steak Cloud,

Regards

Increasing Altcoin Value
http://steakcloud.com/

Only about 40 days left before MINT goes to 10% APR. This is basically 2 Minting cycles. If you haven't minted in a while though start thinking about doing it soon before the rate drops. The minting of new coins will become 33.33% less. This means you would need to increase your coin holdings by 50% in order to continue minting the same number of coins as now with the current rate. This will affect the coin supply by hundreds of millions of coins per year.

Any word from Steak Cloud, as to when the pooled minting feature will be released for use?

Yeah but that shows only in the last 1000 blocks. With Mintcoin there are roughly 57,600 blocks over the course of each minting cycle, so to only look at the last 1000 blocks is going to be a very limited view. Right? It would be nice to see what % staking in the last 50,000 blocks.