Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 231. (Read 1369778 times)

I can assure you, if the coin was at 1 satoshi for any period longer than 2 - 3 months, it's unlikely there would be an exchange to sell your coins on.

Cryptomommy is pulling out all stops to "rescue" us. If she says there are potential investors out there but there is concern over the large eventual coin cap, I'd listen and seriously consider what she's saying.

If the coin cap isn't an issue, why would new investors be raising it as an impediment to investing? It obviously is an issue for them.

Been involved in the junior and penny stock markets for almost 40 years. I've been involved in numerous public companies. I have a very good grasp of how the markets work regarding companies like these - and a better understanding of investors (real investors) mind set.

Right now I'm very familiar with a resource company with a rather large, bloated share float. They're trying to bring new investors on board for much needed capital to get the stalled project going. The new investors have agreed - on one condition - the company float is rolled back. I've experienced this a hundred times. Money flows to value - no perceived value - no new money.

How does this relate to our situation? Well, we're not asking anybody to reduce their holdings (rollback)- we're simply requesting we reduce the overall EVENTUAL number of coins to make the coin more attractive to new investors - who are reluctant to invest under our current structure.

Either we address their concerns adequately, or we lose their capital.



 

Here's something I'll hazard a guess nobody has even though... Today you buy 10 million Mintcoins with REAL FIAT currency, that you earned by getting up every morning and toiled for 8 hours a day for. After one year, you have earned the 20% interest, and now hold 12 million Mintcoins.

Even if you bought the original 10 million at 1 satoshi, and in one year sold all 12 million for 1 satoshi, you would still be up 20 PERCENT. Show me one, just one, guaranteed investment stragtegy that will pay you that kind of interest...just one. Sure, it may take a while to sell all 12 million but they will eventually sell.

This is why the interest should not in any way, shape or form be changed.

You've earned...IGNORE

The Fact is that all you seem to do it whine about # of Posts or try to have a Conspiracy of 1 user with Multiple Accounts

Fact people chose investments with a higher interest rate
I am willing to wait for MintCoin to have a Great Return on Investment
However dropping below 5% Makes sure that will never Happen

However Why don't you prove me and whoever else you think I am wrong , start a coin with a Negative Interest Rate and see how far you get.

And Good Luck Sorting Out all of the Voices in your Head.
 

But the coin is on its legs now - with 20% interest. If people are so sure the high interest rate is what's attracting people to the coin - where are the people, where is the volume? There aren't any people and there isn't any volume. Obviously a high interest rate is not the key to having a successful coin.

That argument just doesn't wash - the facts simply indicate otherwise.

Understand how markets work:

Prices go up based on demand and supply. It requires more demand for prices to go higher. When prices do go higher, it now requires more money to purchase the same amount of units. Eventually there is not enough money left (demand) to push the prices higher.

Prices go down in similar manner, but inverse relationship. It requires more supply for prices to go lower. When prices do go lower, it now requires more units to sell for the same amount of money. Eventually there is not enough units (supply) to push the prices lower.

As an individual investor, timely information is not on your side. Just buy what you think has potential to grow  earning in the long run at a reasonable price, and sit tight through the ups and the downs of the market. You will be rewarded in the long run. If you are going super long term, then you can choose to ignore corrections; it doesn't mean you can't buy the same coins cheaper in the not too distant future.

Corrections are necessary regardless of valuations. Corrections churn ownership of assets from weak hands into strong hands.

People using multiple accounts.....nuff said.

In Total Agreement, Leave the Coin Interest Rates Alone

+1, and welcome back.

The number of posts a person has is irrelevant to the discussion at hand. Mintcoin has picked up a fair amount of new users in the last few months, and new users are just starting to get into the discussion. Berating new users because of their post count really puts a VERY VERY bad light on Mintcoin, and this should stop immediately.

This is now a "Community Coin" and each and every one in this community has every right to express their opinion regarding the changes being proposed to Mintcoin. We should be discussing this rationally and without malice towards anyone.

    
Re: [ANN][MINT] PoS Rewards and Market Cap Survey & Discussion
Today at 04:08:23 AM
   
Reply with quote  #16472
Quote from: kiklo on Today at 01:38:06 AM
MintCoin FINAL POS was supposed to be 5%.

That is why I purchased a few million.

If the community lowers the POS to 1.5%.

Then it would make more sense to CASH OUT of MintCoin completely and invest in a Utility Stock paying ~ 5%.

The Final Rate has to be at least 5% otherwise there is no reason to Hold it when there are other coins with even higher rates of interest and they are pennies apiece.

Just so you know what a lot of US are thinking.

A lot of you? With 5 posts? Try again.


5 Post or 5000 Posts does not matter.
Drop the POS below 5% and destroy the Coin

 

I understand. Concerns about the volume being quite "low" compared to some other coins is legitimate. But that is not the end all, be all statistic. Volumes can be easily manipulated for one thing. The coin is not worthless. The fact is it's value has only very slowly dropped over time and on low volume. It is at about #50 in market cap despite all it has gone through shows it is resilient. Volume will increase once the trend reverses, as people chase returns, that is just how markets work.

Hello all. I'm stepping out of my stealth mode to give my 2Mintcoin opinion on this.

The 70 billion cap will not be reached for at least 40 years I'll most likely be dead by then, so it has never been a problem with me.

The current interest scheme is very reasonable and is the main reason I got into Mintcoin in the first place. Leave it the way it is.

The BIGGEST problem Mintcoin has always had, was the 700 MILLION Mintcoin Premine. This is the main reason the coin never took off. I truly believe that the Dev was always to tired and never wanted to improve the coin, because he was so busy trading 700 MILLION coins at 50 some exchanges. I can just imagine how much time and effort it took to accomplish that feat.

The most important thing to do with Mintcoin, is to start DEVELOPING features for the coin. Upgrade the wallet would be the first thing. I've said it before, and I'm going to say it again.... HAVE A LOOK AT SILKCOINS WALLET.....

Get the Android Wallet into use. This has gone on long enough. If Paspi can't complete it, find someone who can....simple as that...

I've also said it before, and again I'm going to say it again... Check into having Mintcoin included into http://keepod.org/ and have each one of their USB devices have 10,000 Mintcoins to start them off with. (This does need the Android Wallet)

All the other things you guys are talking about will require a HARD FORK and that is a VERY VERY VERY bad thing to do. Look at Saturncoin...they hard forked and reduced the total supply of coins, then exchanged 1000 old Saturncoins for 1 new Sat2 coin....that didn't work out to well for them did it?

Put together some sort of "Media Release" send it to ALL the big crypto news sites, explaining EXACTLY what happened with the original dev, and what is taking place now. Explain that the community is coming together (and has actually grown) since the dev left, and that you are developing all these new features for the coin.

I personally put a lot of time into Mintcoin from the beginning, and after reading a PM from the original dev (cryptomommy knows of this) I pretty much didn't want to be involved with him any longer, so I went into stealth mode. There was discussions months ago about having the community take over the coin (sort of a coup d etat) at that time I asked the people involved to hold off until I talked to the dev about things...at that time he was open to making changes, but he never really did anything, so the coup d etat was somewhat called off. Looking back (hindsight of course) I should have kept my mouth shut.

I still have reservations about a few things, but I do believe cryptomommy is doing a standup job. Everyone should really put some serious thought into the idea of changing the coin, and everyone should have a look at the Silkcoin wallet as well as the Keepod site.

Thanks for your time...back to stealth mode...

https://github.com/mintcoinproject/mintcoin/blob/master/src/main.h#L35

https://github.com/mintcoinproject/mintcoin/blob/b24be6bc99b006957e15dfe090615eec130301d6/src/main.cpp#L522

How about that?

A lot of you? With 5 posts? Try again.

MintCoin FINAL POS was supposed to be 5%.

That is why I purchased a few million.

If the community lowers the POS to 1.5%.

Then it would make more sense to CASH OUT of MintCoin completely and invest in a Utility Stock paying ~ 5%.

The Final Rate has to be at least 5% otherwise there is no reason to Hold it when there are other coins with even higher rates of interest and they are pennies apiece.

Just so you know what a lot of US are thinking.

I don't disagree with a lot of what you are saying. Just to be clear.

But the facts are, the coin doesn't really trade anywhere, nor is it used anywhere. Collecting interest on a worthless coin is not worth...anything. Under a $1000 a day in trade volume will not keep the coin alive.

So the coin is effectively dead. Jump starting it with some change seems to me to be the only possible means to try and revitalize the coin. Welcoming new investors, from within the alt community and out.

Not making any changes at this point will be the death knell for the coin. Sure we may still all own it and we may be collecting our 20% interest, but at .00000001 would there be any point?

And ultimately, it would fall into very few hands, meaning no real network security if that is a legitimate issue.

All I am arguing is that the coin's architecture is not the problem. I think the coin is fine,  not on life support. Overall, all cryptos are generally in a slump at the moment. Give it time, concentrate on actually developing the features utility and usibility of the coin...android wallet...merchants, etc. Bitcoin didn't reach $600 the first year. Have realistic expectations.

The coin is on life support. Surely you're not suggesting the path we're on has served us well?