[ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 289.

Dallas5

sr. member

Activity: 364

Merit: 250

Quote from: mintcointeam on May 29, 2014, 05:38:33 PM

What if we had an awesome idea based on the MintCoin Fund that was supposed to bring awareness of the coin like no other idea before?
Wait...
but we HAVE that!

And this is not a fake announcement! We have already hinted at that several times!
https://twitter.com/MintcoinTeam/status/437175848912052224
https://twitter.com/MintcoinTeam/status/443597287798099968

Buy now or regret!

Sounds promising but when do you announce what this big idea is?

Dallas5

sr. member

Activity: 364

Merit: 250

Quote from: philipvdlinde on May 29, 2014, 02:56:21 PM

Its so sad to see the mintcoin price collapse after so much work, I really hope that mintcoin will regain its price, because this is just unfair for the work you guys put into this coin.

I remember you from the time mint was +-15 sat, indeed if I had the bitcoins I would buy it all up on the exchanges to 10 sat again but thats just dreaming. I'm going to sell some other coins and buy a few million mint but that won't save it.

What happened to the mint coin spirit, the energy saving bitcoin alternative? The foundation should be promoted more and it should shout from the roofs every time it achieves something.

mintcointeam

sr. member

Activity: 325

Merit: 250

What if we had an awesome idea based on the MintCoin Fund that was supposed to bring awareness of the coin like no other idea before?
Wait...
but we HAVE that!

And this is not a fake announcement! We have already hinted at that several times!
https://twitter.com/MintcoinTeam/status/437175848912052224
https://twitter.com/MintcoinTeam/status/443597287798099968

Buy now or regret!

Anatavoc

newbie

Activity: 57

Merit: 0

Quote from: DougB62 on May 29, 2014, 03:50:57 PM

Quote from: Kergekoin on May 29, 2014, 03:23:16 PM

Guys, help with some buy orders please? Im the only one buying at 4.

Now we really find out how many weak hands there are...

Appearenly many,bringing the price of energy saving coins down

DougB62

hero member

Activity: 672

Merit: 500

Banned: For Your Protection

Quote from: Kergekoin on May 29, 2014, 03:23:16 PM

Guys, help with some buy orders please? Im the only one buying at 4.

Now we really find out how many weak hands there are...

Kergekoin

hero member

Activity: 546

Merit: 500

Guys, help with some buy orders please? Im the only one buying at 4.

Jeff Jefferson

sr. member

Activity: 307

Merit: 252

Quote from: Xpedite on May 29, 2014, 02:39:28 PM

5 % might seem reasonable now but what in three years ?

It's just a number for starters. Seems like a good incentive for someone to start this bank. It can be of course modified.

jonesT

sr. member

Activity: 336

Merit: 250

A bank is an excellent idea! Cheesy

Think: with the money, bank will sell mint to pay interest. This will reduce or even crash these horrible sell walls. Maybe even the whales invest in this bank. Wink

philipvdlinde

hero member

Activity: 826

Merit: 1000

Its so sad to see the mintcoin price collapse after so much work, I really hope that mintcoin will regain its price, because this is just unfair for the work you guys put into this coin.

Xpedite

sr. member

Activity: 258

Merit: 250

DRAMA: Dumb Retards Asking More Attention

5 % might seem reasonable now but what in three years ?

Jeff Jefferson

sr. member

Activity: 307

Merit: 252

Quote from: David Latapie on May 29, 2014, 10:14:14 AM

Quote from: Jeff Jefferson on May 27, 2014, 04:06:18 PM

Quote from: ranlo on May 27, 2014, 03:55:39 PM

Quote from: Jeff Jefferson on May 27, 2014, 03:53:43 PM

why aren't exchanges actually minting? is it included in the protocol? Shocked

of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets.

the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer.

Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues.

it's the only reason? what do you mean by reserved for minting?
in the wallet the coins are available for transaction. except for when they're being staked. but they are not staked for long and then become available for transactions. i don't think that this causes much problems. worst case you get a message "you're coins are being staked right now, wait x min before you can make a transaction". or am i wrong?

Minting means a lot of complication because it reduces fungibility (coin age) and works bad with hotwallet. The main issue it technical, I'd say

A mintcoin bank is a good idea and the fact that Reddit likes it goes the same way. It could even be like "5% of minting goes to the server cost and Mintcoin Fund".
Our present list of developpers is:
mintcointeam
Paspi (congratulations on your progress!)
Kergekoin
unek (?)
Some people I've forgot?

Quote from: dlemfjqm on May 27, 2014, 10:21:18 AM

Quote from: Jeff Jefferson on May 25, 2014, 08:53:57 AM

guys, beside the android wallet is anything going on? any PR campaigns? what is/are the devs up to? any thoughts on adding anonymity features? they seem to be fancy right now.

It should be hard to implement
But it's novel Let a person very curious
Will be handy If we can implement it is very nice
Grin

PR campaign is the Mintcoin Fund. I made significant progress on it today. Unfortunately, the French Administration is closed until Monday.

So how about an official bounty post for this online wallet? Could you organize it David? Or beaverslayer just the way it happened with the Android wallet?

I pledge 300k

5% for the service seems reasonable. I really would like to hear the opinion of people who can actually program such a thing whether it can be done.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: dille71 on May 29, 2014, 11:04:23 AM

Quote from: ranlo on May 29, 2014, 10:44:51 AM

Quote from: dille71 on May 29, 2014, 10:38:05 AM

Quote from: ranlo on May 29, 2014, 10:24:45 AM

Quote from: Jeff Jefferson on May 29, 2014, 05:22:41 AM

That can be easily solved by the coin control features already integrated in the mintcoin wallet. I already use only the recent coins for transactions while my older coins are staking. I think people will understand if their coins are staking so they can't use them instantaneously. Or that they lose their coin age by moving the coins. Most people will just put the money in their wallet and let it there and collect interest. Just like a bank.

I see what you mean now...

I wonder if there's a way to implement something that will basically tell the wallet which transactions were staked (or at least which address it was from). This would help if the bank were to give each person only the coins they themselves were staking. I don't believe this happens right now though, but may be worth looking into if equality is really that important with this.

Thats why i think its a good idea to require them to leave the coins untouched for a couple of days more than minimum coin age. It would give a higher possibillity to stake and one wouldnt need to keep track on whos coins actually staked. Simple and safe

This could cause issues with members. I couldn't imagine a bank saying "you made your deposit but we're not going to let you touch it for a week."

Actually, in some cases I guess this happens (most banks will do cash deposits instantly, though some are still delayed a few days). But for cryptos, the point is breaking away from this cycle.

Well, they can withdraw it but then no interrest is payed. Just like when you move your coins in your wallet.

This is an interesting concept. I think it'd be somewhat easy to implement as well, assuming one uses a database to store the deposit/withdrawal information. It doesn't really tell whether or not coins were staked, though (there are some coins that have sat for months before without staking on PoS due to its randomization).

dille71

full member

Activity: 210

Merit: 100

Quote from: ranlo on May 29, 2014, 10:44:51 AM

Quote from: dille71 on May 29, 2014, 10:38:05 AM

Quote from: ranlo on May 29, 2014, 10:24:45 AM

Quote from: Jeff Jefferson on May 29, 2014, 05:22:41 AM

That can be easily solved by the coin control features already integrated in the mintcoin wallet. I already use only the recent coins for transactions while my older coins are staking. I think people will understand if their coins are staking so they can't use them instantaneously. Or that they lose their coin age by moving the coins. Most people will just put the money in their wallet and let it there and collect interest. Just like a bank.

I see what you mean now...

I wonder if there's a way to implement something that will basically tell the wallet which transactions were staked (or at least which address it was from). This would help if the bank were to give each person only the coins they themselves were staking. I don't believe this happens right now though, but may be worth looking into if equality is really that important with this.

Thats why i think its a good idea to require them to leave the coins untouched for a couple of days more than minimum coin age. It would give a higher possibillity to stake and one wouldnt need to keep track on whos coins actually staked. Simple and safe

This could cause issues with members. I couldn't imagine a bank saying "you made your deposit but we're not going to let you touch it for a week."

Actually, in some cases I guess this happens (most banks will do cash deposits instantly, though some are still delayed a few days). But for cryptos, the point is breaking away from this cycle.

Well, they can withdraw it but then no interrest is payed. Just like when you move your coins in your wallet.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: dille71 on May 29, 2014, 10:38:05 AM

Quote from: ranlo on May 29, 2014, 10:24:45 AM

Quote from: Jeff Jefferson on May 29, 2014, 05:22:41 AM

That can be easily solved by the coin control features already integrated in the mintcoin wallet. I already use only the recent coins for transactions while my older coins are staking. I think people will understand if their coins are staking so they can't use them instantaneously. Or that they lose their coin age by moving the coins. Most people will just put the money in their wallet and let it there and collect interest. Just like a bank.

I see what you mean now...

I wonder if there's a way to implement something that will basically tell the wallet which transactions were staked (or at least which address it was from). This would help if the bank were to give each person only the coins they themselves were staking. I don't believe this happens right now though, but may be worth looking into if equality is really that important with this.

Thats why i think its a good idea to require them to leave the coins untouched for a couple of days more than minimum coin age. It would give a higher possibillity to stake and one wouldnt need to keep track on whos coins actually staked. Simple and safe

This could cause issues with members. I couldn't imagine a bank saying "you made your deposit but we're not going to let you touch it for a week."

Actually, in some cases I guess this happens (most banks will do cash deposits instantly, though some are still delayed a few days). But for cryptos, the point is breaking away from this cycle.

dille71

full member

Activity: 210

Merit: 100

Quote from: ranlo on May 29, 2014, 10:24:45 AM

Quote from: Jeff Jefferson on May 29, 2014, 05:22:41 AM

That can be easily solved by the coin control features already integrated in the mintcoin wallet. I already use only the recent coins for transactions while my older coins are staking. I think people will understand if their coins are staking so they can't use them instantaneously. Or that they lose their coin age by moving the coins. Most people will just put the money in their wallet and let it there and collect interest. Just like a bank.

I see what you mean now...

I wonder if there's a way to implement something that will basically tell the wallet which transactions were staked (or at least which address it was from). This would help if the bank were to give each person only the coins they themselves were staking. I don't believe this happens right now though, but may be worth looking into if equality is really that important with this.

Thats why i think its a good idea to require them to leave the coins untouched for a couple of days more than minimum coin age. It would give a higher possibillity to stake and one wouldnt need to keep track on whos coins actually staked. Simple and safe

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: Jeff Jefferson on May 29, 2014, 05:22:41 AM

That can be easily solved by the coin control features already integrated in the mintcoin wallet. I already use only the recent coins for transactions while my older coins are staking. I think people will understand if their coins are staking so they can't use them instantaneously. Or that they lose their coin age by moving the coins. Most people will just put the money in their wallet and let it there and collect interest. Just like a bank.

I see what you mean now...

I wonder if there's a way to implement something that will basically tell the wallet which transactions were staked (or at least which address it was from). This would help if the bank were to give each person only the coins they themselves were staking. I don't believe this happens right now though, but may be worth looking into if equality is really that important with this.

David Latapie

hero member

Activity: 658

Merit: 503

Monero Core Team

Quote from: Jeff Jefferson on May 27, 2014, 04:06:18 PM

Quote from: ranlo on May 27, 2014, 03:55:39 PM

Quote from: Jeff Jefferson on May 27, 2014, 03:53:43 PM

why aren't exchanges actually minting? is it included in the protocol? Shocked

of course centralization will be gained by such a bank but i think there are still a lot of people who will still use their own wallets.

the idea is just a centralized web wallet. no lending or selling financial products. 15-20% interest rate annually is already more than any bank can offer.

Exchanges don't mint because it would create a fractional reserve. If everyone wanted to withdraw at once, they couldn't because coins would be reserved for the minting process. This would cause issues.

it's the only reason? what do you mean by reserved for minting?
in the wallet the coins are available for transaction. except for when they're being staked. but they are not staked for long and then become available for transactions. i don't think that this causes much problems. worst case you get a message "you're coins are being staked right now, wait x min before you can make a transaction". or am i wrong?

Minting means a lot of complication because it reduces fungibility (coin age) and works bad with hotwallet. The main issue it technical, I'd say

A mintcoin bank is a good idea and the fact that Reddit likes it goes the same way. It could even be like "5% of minting goes to the server cost and Mintcoin Fund".
Our present list of developpers is:
mintcointeam
Paspi (congratulations on your progress!)
Kergekoin
unek (?)
Some people I've forgot?

Quote from: dlemfjqm on May 27, 2014, 10:21:18 AM

Quote from: Jeff Jefferson on May 25, 2014, 08:53:57 AM

guys, beside the android wallet is anything going on? any PR campaigns? what is/are the devs up to? any thoughts on adding anonymity features? they seem to be fancy right now.

It should be hard to implement
But it's novel Let a person very curious
Will be handy If we can implement it is very nice
Grin

PR campaign is the Mintcoin Fund. I made significant progress on it today. Unfortunately, the French Administration is closed until Monday.

Jeff Jefferson

sr. member

Activity: 307

Merit: 252

Quote from: ranlo on May 29, 2014, 03:58:43 AM

Quote from: dille71 on May 29, 2014, 03:55:57 AM

Quote from: ranlo on May 28, 2014, 08:19:23 PM

Quote from: dille71 on May 28, 2014, 06:16:14 PM

Quote from: ranlo on May 28, 2014, 05:26:02 PM

Quote from: dille71

But as i said i have some ideas how to simplify it..

Can you share some more details and how you plan to simplify it? I think that it actually being over complicated a bit and coin age isn't relevant when you're dealing with exchanges anyways because they're constantly moving the coins back and forth between their own wallet and therefore there's no real way to see how much each person has earned regardless

Posted From bitcointalk.org Android App

This is not about an exchange and moving coins within one wallet. So, yes it can be very simple i guess i miss read your first post.
One have to require people to not move their coins in a certain time period that is a couple of days more then minimum coin age to ensure they stake. Maybe 30 days. If they move them before no interrest is payed.

Yeah, the problem is exchanges don't keep coins in the same addresses you deposit them into. ie.

I make a deposit of 100k MINT right now. That's put in Address A.
Later on, when the hotwallet hits 500k (due to 4 other depositors), 350k coins are going to be moved to the exchange's cold wallet, Address F (including coins of mine, B, C, D and E)

From time to time the hot wallet will need replenished. This means coins are moving back from F to another address for sending out.

When we make the deposits is irrelevant because the exchange is going to be shifting things back and forth between hot/cold wallets and addresses for paying out.

I can't see the connection between the banking idea and an exchange?

I figured the bank would be doing things safely. This means moving coins to cold storage instead of having them all in the hot wallet. If this is wrong, that's a HUGE liability and I'd recommend avoiding it.

If you deal with cold storage, you're moving coins around from cold->hot->cold as needed to meet the demands of depositors. This means coins are being moved from one address to another. If I deposit 1k coins today, those won't be minting from that address since you'd be merging them with others through the hot->cold process.

That can be easily solved by the coin control features already integrated in the mintcoin wallet. I already use only the recent coins for transactions while my older coins are staking. I think people will understand if their coins are staking so they can't use them instantaneously. Or that they lose their coin age by moving the coins. Most people will just put the money in their wallet and let it there and collect interest. Just like a bank.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: dille71 on May 29, 2014, 03:55:57 AM

Quote from: ranlo on May 28, 2014, 08:19:23 PM

Quote from: dille71 on May 28, 2014, 06:16:14 PM

Quote from: ranlo on May 28, 2014, 05:26:02 PM

Quote from: dille71

But as i said i have some ideas how to simplify it..

Can you share some more details and how you plan to simplify it? I think that it actually being over complicated a bit and coin age isn't relevant when you're dealing with exchanges anyways because they're constantly moving the coins back and forth between their own wallet and therefore there's no real way to see how much each person has earned regardless

Posted From bitcointalk.org Android App

This is not about an exchange and moving coins within one wallet. So, yes it can be very simple i guess i miss read your first post.
One have to require people to not move their coins in a certain time period that is a couple of days more then minimum coin age to ensure they stake. Maybe 30 days. If they move them before no interrest is payed.

Yeah, the problem is exchanges don't keep coins in the same addresses you deposit them into. ie.

I make a deposit of 100k MINT right now. That's put in Address A.
Later on, when the hotwallet hits 500k (due to 4 other depositors), 350k coins are going to be moved to the exchange's cold wallet, Address F (including coins of mine, B, C, D and E)

From time to time the hot wallet will need replenished. This means coins are moving back from F to another address for sending out.

When we make the deposits is irrelevant because the exchange is going to be shifting things back and forth between hot/cold wallets and addresses for paying out.

I can't see the connection between the banking idea and an exchange?

I figured the bank would be doing things safely. This means moving coins to cold storage instead of having them all in the hot wallet. If this is wrong, that's a HUGE liability and I'd recommend avoiding it.

If you deal with cold storage, you're moving coins around from cold->hot->cold as needed to meet the demands of depositors. This means coins are being moved from one address to another. If I deposit 1k coins today, those won't be minting from that address since you'd be merging them with others through the hot->cold process.

dille71

full member

Activity: 210

Merit: 100

Quote from: ranlo on May 28, 2014, 08:19:23 PM

Quote from: dille71 on May 28, 2014, 06:16:14 PM

Quote from: ranlo on May 28, 2014, 05:26:02 PM

Quote from: dille71

But as i said i have some ideas how to simplify it..

Can you share some more details and how you plan to simplify it? I think that it actually being over complicated a bit and coin age isn't relevant when you're dealing with exchanges anyways because they're constantly moving the coins back and forth between their own wallet and therefore there's no real way to see how much each person has earned regardless

Posted From bitcointalk.org Android App

This is not about an exchange and moving coins within one wallet. So, yes it can be very simple i guess i miss read your first post.
One have to require people to not move their coins in a certain time period that is a couple of days more then minimum coin age to ensure they stake. Maybe 30 days. If they move them before no interrest is payed.

Yeah, the problem is exchanges don't keep coins in the same addresses you deposit them into. ie.

I make a deposit of 100k MINT right now. That's put in Address A.
Later on, when the hotwallet hits 500k (due to 4 other depositors), 350k coins are going to be moved to the exchange's cold wallet, Address F (including coins of mine, B, C, D and E)

From time to time the hot wallet will need replenished. This means coins are moving back from F to another address for sending out.

When we make the deposits is irrelevant because the exchange is going to be shifting things back and forth between hot/cold wallets and addresses for paying out.

I can't see the connection between the banking idea and an exchange?

Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 289. (Read 1369806 times)