if anyone is following the crpytorush update's ... suggest you get your coins off there ASAP.
Withdrawing in Litecoins seems to be working atm.
https://bitcointalksearch.org/topic/m.5906159
Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 502. (Read 1369810 times)
March 26, 2014, 12:58:48 AM
March 26, 2014, 12:50:17 AM
So blackcoin bug of getbalance caused a million lost coins? Doesnt mint also have this
bug people were saying? Exchanges maybe lost coins?
bug people were saying? Exchanges maybe lost coins?
i am also worried about it
March 26, 2014, 12:49:16 AM
Hey word is out that there is a multi pool that will mine shit coins and buy mintcoin is any of this true and if it is post up the pool.
yes I have not read the last few posts so please tell me.
yes I have not read the last few posts so please tell me.
http://hashco.ws
Just sign up and you can change it under account settings ...
me too.... mining MINT as from yesterday!... Hope this will shake up the market a little
March 26, 2014, 12:47:45 AM
So blackcoin bug of getbalance caused a million lost coins? Doesnt mint also have this
bug people were saying? Exchanges maybe lost coins?
bug people were saying? Exchanges maybe lost coins?
March 26, 2014, 12:28:12 AM
Some people have suggested that the 20% interest rate for the first year is too high. It sounds like a lot, but not all of that will be realized. I will attempt to estimate an upper limit for the inflation percentage and compare it to Bitcoin and Litecoin.
First of all, mining ended before the 20 billion coin mark (I suspect this was due to POS blocks eating up potential POW blocks). The last POW block was somewhere around #100800, and there were only 18.6 billion coins at that time. Therefore, the number of coins available for the 20% POS reward is less than expected.
Secondly, not all of those 18.6 billion coins will produce new POS coins. Transactions destroy coin days, and the percentage of coin days destroyed in each block is currently around 60%:
http://mintcoin-explorer.info/block/a562045650e17ae6b1a3029ce93b1483bc116427fcaf7495fb62696165918bde
Of course, some of this could be people transferring coins the day after they receive a POS reward (I also don't know if this number includes coin days destroyed by minting). Let's suppose that the relevant coin day destruction is closer to 20% (remember I'm looking for an upper limit on coin supply). In other words I'm estimating that fewer than 80% of coins stored in wallets will be staked for a whole year rather than spent or transferred.
Thirdly, some of those initial 18.6 billion coins are stored on exchanges. From earlier investigations in this forum (thanks rmoraos), it looks like the exchanges are not collecting POS rewards on the coins that they hold. I checked earlier today, and there were a total of 1 billion Mintcoins for sale on the order books at Mintpal and Cryptsy. That means that at most 17.6 billion of the initial POW coins are stored in wallets.
My upper limit for the number of coins collecting compound interest since the end of POW is 14 billion (80% of the 17.6 billion coins stored in wallets). 20% interest on 14 billion coins compounded every 20 days for a year works out to about 3.1 billion new coins. Therefore, there will be fewer than 21.7 billion Mintcoins in existence by March 9, 2015. With the decreasing interest rate, it will take a while to reach 70 billion coins.
Summary:
Increase in the number of coins over the next year:
Mintcoin: 16.6% (at most)
Bitcoin: 10.4% (12,560,000 coins, 1,312,500 mined in a year)
Litecoin: 39.1% (26,890,000 coins, 10,518,980 mined in a year)
First of all, mining ended before the 20 billion coin mark (I suspect this was due to POS blocks eating up potential POW blocks). The last POW block was somewhere around #100800, and there were only 18.6 billion coins at that time. Therefore, the number of coins available for the 20% POS reward is less than expected.
Secondly, not all of those 18.6 billion coins will produce new POS coins. Transactions destroy coin days, and the percentage of coin days destroyed in each block is currently around 60%:
http://mintcoin-explorer.info/block/a562045650e17ae6b1a3029ce93b1483bc116427fcaf7495fb62696165918bde
Of course, some of this could be people transferring coins the day after they receive a POS reward (I also don't know if this number includes coin days destroyed by minting). Let's suppose that the relevant coin day destruction is closer to 20% (remember I'm looking for an upper limit on coin supply). In other words I'm estimating that fewer than 80% of coins stored in wallets will be staked for a whole year rather than spent or transferred.
Thirdly, some of those initial 18.6 billion coins are stored on exchanges. From earlier investigations in this forum (thanks rmoraos), it looks like the exchanges are not collecting POS rewards on the coins that they hold. I checked earlier today, and there were a total of 1 billion Mintcoins for sale on the order books at Mintpal and Cryptsy. That means that at most 17.6 billion of the initial POW coins are stored in wallets.
My upper limit for the number of coins collecting compound interest since the end of POW is 14 billion (80% of the 17.6 billion coins stored in wallets). 20% interest on 14 billion coins compounded every 20 days for a year works out to about 3.1 billion new coins. Therefore, there will be fewer than 21.7 billion Mintcoins in existence by March 9, 2015. With the decreasing interest rate, it will take a while to reach 70 billion coins.
Summary:
Increase in the number of coins over the next year:
Mintcoin: 16.6% (at most)
Bitcoin: 10.4% (12,560,000 coins, 1,312,500 mined in a year)
Litecoin: 39.1% (26,890,000 coins, 10,518,980 mined in a year)
agree, but
18.6 billion in 5 weeks - 3.72 billion in one week - price 10 satoshi
20% of 18.6 billion in 52 weeks(first year) - 18.6*20%/52 weeks = 0.071 billion in one week - price 3.72/0.071*10 satoshi = 520 satoshi
so, true price 520 satoshi
March 26, 2014, 12:13:47 AM
http://finance.yahoo.com/news/bitcoin-property-not-currency-tax-202506165.html;_ylt=A0LEVzQYSTJTBSIAn79XNyoA;_ylu=X3oDMTB0ZGk2Z2FqBHNlYwNzYwRjb2xvA2JmMQR2dGlkA1ZJUDA3N18x This seems like good news for the community. The U.S. government is taking an official position on Bitcoin. They want their piece but that also adds security for banks and businesses that have been on the fence about using
that's somewhat confusing ... always have to know your cost of basis and what you're buying to determine your capital gains?
so if you sell the bitcoins back to USD at a gain, it's taxed as a property gain?
It is extremely confusing...
"Bitcoins held for more than a year and then sold would face the lower tax rates applicable to capital gains -- a maximum of 23.8 percent compared with the 43.4 percent top rate on property sold within a year of purchase."
Does that mean if you don't "hold" them for a year before you sell them you don't have to pay taxes on the profits? If so... couldn't you just convert your BTC into an altcoin and then right back into BTC once a year to avoid ever "holding" them for a full year? Hahahaha
Also, no mention of altcoins at all... So, convert your BTC into an altcoin that has a fiat exchange and then exchange to fiat and you don't have to pay taxes on the capital gains?!?
Vault of Satoshi baby!
My thoughts exactly. Now they realllly need to get back to operating in the USA
March 26, 2014, 12:12:16 AM
March 26, 2014, 12:03:16 AM
okay signed up TY
mining now
mining now
March 25, 2014, 11:45:42 PM
Vault of Satoshi Gets Full Money Services License for Canada
http://www.coindesk.com/vault-of-satoshi-gets-full-money-services-license-canada/
Good Read. Good Exchange. Good for the Mint Revolution.
http://www.coindesk.com/vault-of-satoshi-gets-full-money-services-license-canada/
Good Read. Good Exchange. Good for the Mint Revolution.
March 25, 2014, 11:30:41 PM
Hey word is out that there is a multi pool that will mine shit coins and buy mintcoin is any of this true and if it is post up the pool.
yes I have not read the last few posts so please tell me.
yes I have not read the last few posts so please tell me.
http://hashco.ws
Just sign up and you can change it under account settings ...
March 25, 2014, 11:30:19 PM
Has anyone had a pyout from Hashco.ws yet?
As per the announcement, payouts happen once daily, ~03:30 UTC (~1hr from this post).
Happy Mining.
First mint payouts away.
March 25, 2014, 11:28:59 PM
Hey word is out that there is a multi pool that will mine shit coins and buy mintcoin is any of this true and if it is post up the pool.
yes I have not read the last few posts so please tell me.
yes I have not read the last few posts so please tell me.
Multipool launched!!
I'm happy to announce, that http://hashco.ws has now launched its 'Get Paid in MintCoin' option to the pool. Sign Up, and head on over to 'Account Settings' where you'll see the option of changing from the standard BTC payout option to MINT.
Our pool also has the unique option of being able to keep other altcoins we mine as well, should you so choose. We welcome all the members of the mint community who wish to give us a shot. Please feel free to join us on irc. Freenode / #hashcows Its in a bit of a beta these first few days, as we work out any kinks with the mint payouts specifically, however the pool itself has been operational for more than 6 months now. MINT payouts will happen between 03:30 - 04:00 GMT daily.
For the time being, there is no additional fee for being paid out in MINT vs. BTC
Happy Mining
I'm happy to announce, that http://hashco.ws has now launched its 'Get Paid in MintCoin' option to the pool. Sign Up, and head on over to 'Account Settings' where you'll see the option of changing from the standard BTC payout option to MINT.
Our pool also has the unique option of being able to keep other altcoins we mine as well, should you so choose. We welcome all the members of the mint community who wish to give us a shot. Please feel free to join us on irc. Freenode / #hashcows Its in a bit of a beta these first few days, as we work out any kinks with the mint payouts specifically, however the pool itself has been operational for more than 6 months now. MINT payouts will happen between 03:30 - 04:00 GMT daily.
For the time being, there is no additional fee for being paid out in MINT vs. BTC
Happy Mining
March 25, 2014, 11:28:26 PM
Hey word is out that there is a multi pool that will mine shit coins and buy mintcoin is any of this true and if it is post up the pool.
yes I have not read the last few posts so please tell me.
yes I have not read the last few posts so please tell me.
March 25, 2014, 11:21:31 PM
http://finance.yahoo.com/news/bitcoin-property-not-currency-tax-202506165.html;_ylt=A0LEVzQYSTJTBSIAn79XNyoA;_ylu=X3oDMTB0ZGk2Z2FqBHNlYwNzYwRjb2xvA2JmMQR2dGlkA1ZJUDA3N18x This seems like good news for the community. The U.S. government is taking an official position on Bitcoin. They want their piece but that also adds security for banks and businesses that have been on the fence about using
that's somewhat confusing ... always have to know your cost of basis and what you're buying to determine your capital gains?
so if you sell the bitcoins back to USD at a gain, it's taxed as a property gain?
It is extremely confusing...
"Bitcoins held for more than a year and then sold would face the lower tax rates applicable to capital gains -- a maximum of 23.8 percent compared with the 43.4 percent top rate on property sold within a year of purchase."
Does that mean if you don't "hold" them for a year before you sell them you don't have to pay taxes on the profits? If so... couldn't you just convert your BTC into an altcoin and then right back into BTC once a year to avoid ever "holding" them for a full year? Hahahaha
Also, no mention of altcoins at all... So, convert your BTC into an altcoin that has a fiat exchange and then exchange to fiat and you don't have to pay taxes on the capital gains?!?
Vault of Satoshi baby!
March 25, 2014, 11:15:33 PM
http://finance.yahoo.com/news/bitcoin-property-not-currency-tax-202506165.html;_ylt=A0LEVzQYSTJTBSIAn79XNyoA;_ylu=X3oDMTB0ZGk2Z2FqBHNlYwNzYwRjb2xvA2JmMQR2dGlkA1ZJUDA3N18x This seems like good news for the community. The U.S. government is taking an official position on Bitcoin. They want their piece but that also adds security for banks and businesses that have been on the fence about using
that's somewhat confusing ... always have to know your cost of basis and what you're buying to determine your capital gains?
so if you sell the bitcoins back to USD at a gain, it's taxed as a property gain?
It is extremely confusing...
"Bitcoins held for more than a year and then sold would face the lower tax rates applicable to capital gains -- a maximum of 23.8 percent compared with the 43.4 percent top rate on property sold within a year of purchase."
Does that mean if you don't "hold" them for a year before you sell them you don't have to pay taxes on the profits? If so... couldn't you just convert your BTC into an altcoin and then right back into BTC once a year to avoid ever "holding" them for a full year? Hahahaha
Also, no mention of altcoins at all... So, convert your BTC into an altcoin that has a fiat exchange and then exchange to fiat and you don't have to pay taxes on the capital gains?!?
March 25, 2014, 11:10:29 PM
http://finance.yahoo.com/news/bitcoin-property-not-currency-tax-202506165.html;_ylt=A0LEVzQYSTJTBSIAn79XNyoA;_ylu=X3oDMTB0ZGk2Z2FqBHNlYwNzYwRjb2xvA2JmMQR2dGlkA1ZJUDA3N18x This seems like good news for the community. The U.S. government is taking an official position on Bitcoin. They want their piece but that also adds security for banks and businesses that have been on the fence about using
that's somewhat confusing ... always have to know your cost of basis and what you're buying to determine your capital gains?
so if you sell the bitcoins back to USD at a gain, it's taxed as a property gain?
March 25, 2014, 10:52:55 PM
I am running 1.6 of the wallet. Mac version. So far, no minting of any kind. Not even failed attempts (as far as I can tell).
strange ... 1.6 on my MAC has minted fine albeit with orphans.Are you running Mavericks? that's what Im on.
Yes. That's what I'm on (Mavericks) and I've had the wallet open for days. Still nothing.
First, how many coins do you have trying to mint? The more you have the better, $5 worth of coins is probably never going to be able to find a block. Second, it is better to keep all your coins that you want to save for minting together on 1 address to help pool together all of your coins' coin age; that way they are all working together to find a block rather than against each other. Third, people need to realize that you are not guaranteed to start minting on day 20. Day 20 is the earliest possible day that coins are allowed to try for blocks. More than likely, it could take several days later to have enough coin age to find a block. Fourth, Once it has been 20 days, your coins accumulate additional coin age with every second that passes by; so leave your wallet open for minting for several hours or several days. After you do successfully find a block and receive your newly minted coins, you have to go through the waiting time all over again (20 days MINIMUM).
Lastly, I would suggest, if you are really serious about getting into being a heavy hitting long-term power minter and really be able to compete for the future, you should try to aquire several million coins now, especially while they are still cheap, and then, do not sell any mintcoins right now, as selling off your mintcoins is equivalent to selling off your mining gear. Think of your coins not only as coins, but as little workers that you have bought, earned, and payed for...they are your engine, your team of workers will continue reaping rewards for you years to come. ~Welcome to the Mintcoin revolution.~
March 25, 2014, 10:29:19 PM
http://finance.yahoo.com/news/bitcoin-property-not-currency-tax-202506165.html;_ylt=A0LEVzQYSTJTBSIAn79XNyoA;_ylu=X3oDMTB0ZGk2Z2FqBHNlYwNzYwRjb2xvA2JmMQR2dGlkA1ZJUDA3N18x This seems like good news for the community. The U.S. government is taking an official position on Bitcoin. They want their piece but that also adds security for banks and businesses that have been on the fence about using
March 25, 2014, 10:26:18 PM
Well I was just informed that Mintcoin will soon be added to the coins that can be tipped through the Facebook Multicoin Tipping App. This means that very soon you will be able to share Mintcoins with friends and family via Facebook tipping. Here's a link to their page.
https://www.facebook.com/groups/MultiCoinTipping/permalink/705360899527599/
https://www.facebook.com/groups/MultiCoinTipping/permalink/705360899527599/
This is great. I went ahead and voted for mintcoin as well, even though they already said it will be added
can't hurt!This is great news as I've been asking if this is possible. I look forward to sharing coins with friends and family. I'm sure I can figure out other ways to promote the coins through facebook groups with this as well! If there are ever Mintcoin voting situations please send me a message and I will do what I can to help.
March 25, 2014, 10:11:49 PM
Has anyone had a pyout from Hashco.ws yet?
As per the announcement, payouts happen once daily, ~03:30 UTC (~1hr from this post).
Happy Mining.
First mint payouts away.
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