Multipool is nice. The volume is pump..
We must got multipool.we must....
Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 607. (Read 1369778 times)
March 15, 2014, 01:28:46 AM
March 15, 2014, 01:07:57 AM
All other minable scrypt coins may be in trouble now with this blackcoin multipool. Mint can be saved but we need a multipool as well, its a perfect candidate.
+1! I think that would benefit mintcoin a lot.
They are just theorizing that blackcoin will suddenly become the most popular POS coin because it is start it's own special multipool where miners get paid out in blackcoin. Or they are just trying to hype up a coin they already are heavily invested in lol. I wouldn't worry too much.
Also, just for the record, multipools did/do still have a direct effect on mint as well, because multipools could have mined the shit out of it early on before it went POS and not everyone necessarily sold their coins when they were mining, but they may be dumping them in droves now, hampering the coin's price growth.
March 15, 2014, 12:31:53 AM
http://www.sovnumisltd.com/alt-currency.html
Notice the three cryptos this company is accepting for real gold and silver coins. Bitcoin, Blackcoin, and Mintcoin. Looks like they were doing their research. (Not my company, just thought it was interesting they picked three of the safest long term coins)
Notice the three cryptos this company is accepting for real gold and silver coins. Bitcoin, Blackcoin, and Mintcoin. Looks like they were doing their research. (Not my company, just thought it was interesting they picked three of the safest long term coins)
March 14, 2014, 11:53:50 PM
Quote
Did I miss something? What does a multipool have to do with a pure POS coin like Mintcoin? #ScratchingMyHead
I think it is a bad idea because it links the coin back to control by miners. I'm am starting to think the issue with distribution is miners getting too much coin, not a premine.
Perhaps a 100% PoS premine with a totally transparent sell off at a predetermined very low price until the premine is gone would be the fairest market solution to all parties involved. The devs would make a lot of money for their efforts, people would get equal access to affordable currency, and miners who have 500 million coins manipulating price would be a thing of the past.
Miners have too much power in the equation.
March 14, 2014, 11:09:30 PM
Love MINT! Awesome coin and the original that BC copied. MINT should return the favor and copy the multi-pool market pressure tech from BC, it is a good one. I hold Mint and Black, see them both going much higher! I am even keeping Zeitcoin, as if these both really take off, maybe Zeitcoin will as well.
Nobody likes premines, and we all want the best we can get for nothing at all, but unless you were born wealthy or bought Bitcoin when it was pennies and saved it, you likely need to get paid like the rest of us. Nobody likes to work for free, and why should they? As long as they were honest about the situation I have no problem with it. If they dumped the premine early, their mistake... I bought some more MINT cheap on the drop, really, that was the first thing I did when I heard the Premine was being sold off in the Poloniex Troll Box. Don't care. They made a brilliant ASIC invincible coin that countless others will clone, just like Litecoin had countless clones, and Vertcoin will, but with a much better design. A perfect Peercoin, energy efficient, legit with limited proof of work, and addictive once people do their first Minting. (Been Minting PHS for awhile now, it *is* fun)
Mintpal is also one of the most solid exchanges, and I don't think they will be dropping MINT. Nor do I have to worry about Bitcoin vanishing there, which is nice for a change. Even Cryptsy copied the voting system of Mintpal, as it is better to have it out in the open rather than behind closed doors as we have grown used to. Yes, I am huge fanboy of MINT, but it is an original and a very good long term coin. The traders I talk to all seem to love it, and even the most negative "Sell Everything!" sorts had few bad things to say. The only legitimate complaint seems to be that the devs didn't work for free, for months. Would you?
Nobody likes premines, and we all want the best we can get for nothing at all, but unless you were born wealthy or bought Bitcoin when it was pennies and saved it, you likely need to get paid like the rest of us. Nobody likes to work for free, and why should they? As long as they were honest about the situation I have no problem with it. If they dumped the premine early, their mistake... I bought some more MINT cheap on the drop, really, that was the first thing I did when I heard the Premine was being sold off in the Poloniex Troll Box. Don't care. They made a brilliant ASIC invincible coin that countless others will clone, just like Litecoin had countless clones, and Vertcoin will, but with a much better design. A perfect Peercoin, energy efficient, legit with limited proof of work, and addictive once people do their first Minting. (Been Minting PHS for awhile now, it *is* fun)
Mintpal is also one of the most solid exchanges, and I don't think they will be dropping MINT. Nor do I have to worry about Bitcoin vanishing there, which is nice for a change. Even Cryptsy copied the voting system of Mintpal, as it is better to have it out in the open rather than behind closed doors as we have grown used to. Yes, I am huge fanboy of MINT, but it is an original and a very good long term coin. The traders I talk to all seem to love it, and even the most negative "Sell Everything!" sorts had few bad things to say. The only legitimate complaint seems to be that the devs didn't work for free, for months. Would you?
March 14, 2014, 10:54:04 PM
All other minable scrypt coins may be in trouble now with this blackcoin multipool. Mint can be saved but we need a multipool as well, its a perfect candidate.
+1! I think that would benefit mintcoin a lot.
I haven't read back on this thread but I'm assuming what they mean is the multipools dumping the coin drives the price down which in turn brings volume due to people buying up the cheap coins which usually ends up driving the price up. Just my assumption
March 14, 2014, 10:49:17 PM
All other minable scrypt coins may be in trouble now with this blackcoin multipool. Mint can be saved but we need a multipool as well, its a perfect candidate.
+1! I think that would benefit mintcoin a lot.
March 14, 2014, 10:21:25 PM
No it will find them
[/quote]
Backing up your wallet.dat is good practice for when the unanticipated and unfortunate happen. If you live a charmed life you'll never have to resort to you backed up wallet.dat though. You're like most people that upgrade with zero issue. Pour yourself a beer and watch your mints come rolling in.
[/quote]
Thank you both! Beer and mint incoming!
[/quote]
Backing up your wallet.dat is good practice for when the unanticipated and unfortunate happen. If you live a charmed life you'll never have to resort to you backed up wallet.dat though. You're like most people that upgrade with zero issue. Pour yourself a beer and watch your mints come rolling in.
[/quote]
Thank you both! Beer and mint incoming!
March 14, 2014, 10:21:13 PM
....
Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time but since both coins experience this the effect should be equivalent for each when weighted relative to the time spent in PoW for each.
Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.
Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time but since both coins experience this the effect should be equivalent for each when weighted relative to the time spent in PoW for each.
Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.
After Mint Dev probably dumped premine you should see that premining really have matters...
It can break trust to coin... How many guys here comes here read complains about it and are loosing faith in Mint ?
You have here example why premine have influence.
Early POS stakeholders have to pay from own pocked for development if they don't pay/donate coin will fall down.
Price doesn't matter so much like people who are involved in project biggest BC value are people arround
they have to rise value of coin because is 0 premine.
With premine all thinks that Dev should do everything for them because he has premined for coins.(sadly this is true...)
There is definitely diffrece betwen premine - IPO -or 0 premine.
About mining and distribution look:
10 days regular mining with fixed amount 1000 BC
vs 5x7day with halving
I like numbers ^^
500000 60 24 7 5040000000
250000 60 24 3 1080000000 6120000000 (~amount of mint after 10 days )
250000 60 24 4 1440000000
125000 60 24 7 1260000000
62500 60 24 7 630000000
31250 60 24 7 315000000 3645000000 (~amount of mint from 11-35 day)
So as you see Mint have mined 62% of all coins in 10 days... and 38% in next 25...
BC mined all 100% in 10 days. (Dev has chosen 10 day without halving i don't blame him it could be better or it could be worst).
But saying that Mint distribution is like 5x better than BC is not the best comparison.
How you feel when you start mine Mint in last week and knowing how much at beginning people were mining ? (just rhetorical question ^^...)
1st day BC had 3GHs 2nd 6Ghs....5day 50Ghs(peak)..and 10-20Ghs to end. You know what is 50Ghs.
Stopped reading there. Take your baseless accusations elsewhere. We know you want to buy cheap MINT but claims such as that are unacceptable.
There is no sense to talk about it more.
Dev is the one who should explain that to community.
___________________________________________________________
...BTW My mint was't cheap
@40 i don't have any plans sell them lower.or buy new one in near future.
March 14, 2014, 10:21:10 PM
Quote
But what Bernanke will never admit is that the official inflation rate is a total sham. The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is.
If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.
But instead, Bernanke can get away with claiming that inflation is "too low" because the official government numbers back him up.
If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.
But instead, Bernanke can get away with claiming that inflation is "too low" because the official government numbers back him up.
http://theeconomiccollapseblog.com/archives/inflation-is-too-low-are-you-kidding-us-bernanke
Quote
theeconomiccollapseblog
Of Really? March 14, 2014, 10:18:28 PM
All other minable scrypt coins may be in trouble now with this blackcoin multipool. Mint can be saved but we need a multipool as well, its a perfect candidate.
+1! I think that would benefit mintcoin a lot.
March 14, 2014, 10:17:40 PM
Quote
But what Bernanke will never admit is that the official inflation rate is a total sham. The way that inflation is calculated has changed more than 20 times since 1978, and each time it has been changed the goal has been to make it appear to be lower than it actually is.
If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.
But instead, Bernanke can get away with claiming that inflation is "too low" because the official government numbers back him up.
If the rate of inflation was still calculated the way that it was back in 1980, it would be about 8 percent right now and everyone would be screaming about the fact that inflation is way too high.
But instead, Bernanke can get away with claiming that inflation is "too low" because the official government numbers back him up.
http://theeconomiccollapseblog.com/archives/inflation-is-too-low-are-you-kidding-us-bernanke
March 14, 2014, 10:16:11 PM
Apart for the Mint/blackcoin war ...
20% inflation and then after 4 years 5% per year forever is insane.
If you really believe in this coin for the long term and it becomes a worldwide currency it will be a worse plague than fiat.
It won't be 20% inflation, but less than that because that 20% presumes that 100% of the coins will sit quietly and acquire coin age, which is false.20% inflation and then after 4 years 5% per year forever is insane.
If you really believe in this coin for the long term and it becomes a worldwide currency it will be a worse plague than fiat.
Even at 5%, if this were possible, it is less than the inflation of the money supply. If you think that cryptos and altcoins are worse than fiat, then you have no idea how central banks and the debt-money scam works.
http://www.youtube.com/watch?v=iFDe5kUUyT0
Was that to subtle for you? Probably.
If there is no actually 20% then somebody change this:
Quote
which gives the highest payout at 20% the first year, then decrease 5% per year until the 4th year it reaches annual interest rate of 5%, then it will remain at this rate.
And explain in a few words about the max and min.And I do hope the coding is right and we don't end like DOGE who turned to inflation overnight due to dizzy devs.
I still think, inflation is the right way to go. Currencies need inflation unlike commodities like gold that live on deflation. But virtual currencies are no gold, they have no use when not spend.
PS: I am really puzzled, that bc is going where mintcoin was supposed to: price increase since pos. Maybe I'd end up dumping my mint too.
Their multipool must be helping. We really ought to do the same!! Keep in mind though, that when BC first switched over to pure PoS the price fell from above 2000 to below 1000 (I remember because I bought some BC at 2000).
March 14, 2014, 10:13:39 PM
....
Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time but since both coins experience this the effect should be equivalent for each when weighted relative to the time spent in PoW for each.
Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.
Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time but since both coins experience this the effect should be equivalent for each when weighted relative to the time spent in PoW for each.
Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.
After Mint Dev probably dumped premine you should see that premining really have matters...
It can break trust to coin... How many guys here comes here read complains about it and are loosing faith in Mint ?
You have here example why premine have influence.
Early POS stakeholders have to pay from own pocked for development if they don't pay/donate coin will fall down.
Price doesn't matter so much like people who are involved in project biggest BC value are people arround
they have to rise value of coin because is 0 premine.
With premine all thinks that Dev should do everything for them because he has premined for coins.(sadly this is true...)
There is definitely diffrece betwen premine - IPO -or 0 premine.
About mining and distribution look:
10 days regular mining with fixed amount 1000 BC
vs 5x7day with halving
I like numbers ^^
500000 60 24 7 5040000000
250000 60 24 3 1080000000 6120000000 (~amount of mint after 10 days )
250000 60 24 4 1440000000
125000 60 24 7 1260000000
62500 60 24 7 630000000
31250 60 24 7 315000000 3645000000 (~amount of mint from 11-35 day)
So as you see Mint have mined 62% of all coins in 10 days... and 38% in next 25...
BC mined all 100% in 10 days. (Dev has chosen 10 day without halving i don't blame him it could be better or it could be worst).
But saying that Mint distribution is like 5x better than BC is not the best comparison.
How you feel when you start mine Mint in last week and knowing how much at beginning people were mining ? (just rhetorical question ^^...)
1st day BC had 3GHs 2nd 6Ghs....5day 50Ghs(peak)..and 10-20Ghs to end. You know what is 50Ghs.
Stopped reading there. Take your baseless accusations elsewhere. We know you want to buy cheap MINT but claims such as that are unacceptable.
March 14, 2014, 10:10:14 PM
USD inflates at about 8% annually, on average
Sources? (I believe you, I just would like it backed up by sources).Quote
CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
http://www.policymic.com/articles/4952/is-america-hiding-its-true-inflation-rate-and-could-the-u-s-be-as-insolvent-as-greece
8% is a pretty standard estimate of the annual USD inflation rate. Kind of a rule of thumb.
Lots of FUD in the article , a lot less in the original....the 8% is to some commodities , and to some only 0.0x%.
More detailed stuff please or I won't even bother to argue anymore.
look on article data.
I think is more accurate don't look on crisis it can bring miss understanding to normal situation to low inf.
http://www.inflation.eu/inflation-rates/united-states/historic-inflation/cpi-inflation-united-states.aspx
Inflation is more or less equal to interest in banks ! : D
March 14, 2014, 10:04:13 PM
....
Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time but since both coins experience this the effect should be equivalent for each when weighted relative to the time spent in PoW for each.
Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.
Stop fixating on the premine, it is but one factor involved in the initial distribution. Lets look at another factor, which involves the other 99% (or 100% in BC's case) of the coin (i.e. lets pay attention to where the majority of the coins are going, which is more important): 1 week of mining versus 5 weeks of mining. So.. approx 99% of PoW Mint was distributed over 5 weeks, whereas 100% of PoW BC was distributed over 1 week. This analysis is far from perfect because there are too many factors involved but lets simplify the model to get the point across by assuming the same number of miners join per week for each coin, that would give Mintcoin slightly less than 5X the distribution of BC through PoW (slightly less than 5X since its 99% of the coins not 100% being distributed). But, the number of miners that hop on a coin per unit time is not a constant, the more time that passes since the release the more people that learn about and become interested in the coin and begin mining the coin (assuming the release was a good one, and interest in said coin grows). As such, it seems safe to assume that there is a modest acceleration in the number of adopters/time as time since the release of the coin increases. As such, the number of miners/week that started mining Mint during the later weeks is probably larger than the number of miners that joined in the first week for either Mint or BC. So, taking that into consideration, the rate of distribution should increase over time meaning that 5 weeks will result in MORE than 5X the distribution when compared to 1 week of distribution. Of course, this is ignoring the increase in difficulty as a function of time but since both coins experience this the effect should be equivalent for each when weighted relative to the time spent in PoW for each.
Short version: Distribution is not linear with time, I would expect it to have a positive derivative: f(x) = miners/time ; f'(x) is positive aka (miners/time)/time is increasing- meaning that 5 weeks of mining versus 1 week of mining is actually more than 5X the amount of distribution.
After Mint Dev probably dumped premine you should see that premining really have matters...
It can break trust to coin... How many guys here comes here read complains about it and are loosing faith in Mint ?
You have here example why premine have influence.
Early POS stakeholders have to pay from own pocked for development if they don't pay/donate coin will fall down.
Price doesn't matter so much like people who are involved in project biggest BC value are people arround
they have to rise value of coin because is 0 premine.
With premine all thinks that Dev should do everything for them because he has premined for coins.(sadly this is true...)
There is definitely diffrece betwen premine - IPO -or 0 premine.
About mining and distribution look:
10 days regular mining with fixed amount 1000 BC
vs 5x7day with halving
I like numbers ^^
500000 60 24 7 5040000000
250000 60 24 3 1080000000 6120000000 (~amount of mint after 10 days )
250000 60 24 4 1440000000
125000 60 24 7 1260000000
62500 60 24 7 630000000
31250 60 24 7 315000000 3645000000 (~amount of mint from 11-35 day)
So as you see Mint have mined 62% of all coins in 10 days... and 38% in next 25...
BC mined all 100% in 10 days. (Dev has chosen 10 day without halving i don't blame him it could be better or it could be worst).
But saying that Mint distribution is like 5x better than BC is not the best comparison.
How you feel when you start mine Mint in last week and knowing how much at beginning people were mining ? (just rhetorical question ^^...)
1st day BC had 3GHs 2nd 6Ghs....5day 50Ghs(peak)..and 10-20Ghs to end. You know what is 50Ghs.
March 14, 2014, 09:57:29 PM
All other minable scrypt coins may be in trouble now with this blackcoin multipool. Mint can be saved but we need a multipool as well, its a perfect candidate.
March 14, 2014, 09:53:23 PM
USD inflates at about 8% annually, on average
Sources? (I believe you, I just would like it backed up by sources).Quote
CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
http://www.policymic.com/articles/4952/is-america-hiding-its-true-inflation-rate-and-could-the-u-s-be-as-insolvent-as-greece
8% is a pretty standard estimate of the annual USD inflation rate. Kind of a rule of thumb.
Lots of FUD in the article , a lot less in the original....the 8% is to some commodities , and to some only 0.0x%.
More detailed stuff please or I won't even bother to argue anymore.
pfft whatever
March 14, 2014, 09:52:21 PM
USD inflates at about 8% annually, on average
Sources? (I believe you, I just would like it backed up by sources).Quote
CBS News recently reported that the rate of inflation, as calculated by the American Institute for Economic Research (AIER), clocked in at a whopping 8% over the past year. This number is in stark contrast to the relatively modest inflation rate of 3.1% being reported by the government’s Bureau of Labor Statistics.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
The AIER calculates what they refer to as an Every Day Price Index (EPI). The EPI only looks at the cost of goods the average household buys every month and factors in only those costs which are subject to price fluctuation. For example, mortgages are typically stable over the course of a year so those numbers are ignored. They wouldn’t change unless a person moves or refinances, so they don’t act as a good measure of inflation from month to month.
Another measure of inflation comes from John Williams’ Shadow Stats. Williams calculates the consumer price index (CPI) using the same model as the government did prior to 1990. Williams also calculates the CPI using the same model as the government did prior to 1980. In each case, the government changed the way it calculated inflation in order to give the appearance of less inflation.
If we calculate the inflation rate the exact same way the government did prior to 1990, the inflation rate is averaging around 6.5%, which is basically double the official rate. However, if we measure inflation the same way the government did back prior to 1980, the inflation rate clocks in at a mind-numbing 11%.
http://www.policymic.com/articles/4952/is-america-hiding-its-true-inflation-rate-and-could-the-u-s-be-as-insolvent-as-greece
8% is a pretty standard estimate of the annual USD inflation rate. Kind of a rule of thumb.
Lots of FUD in the article , a lot less in the original....the 8% is to some commodities , and to some only 0.0x%.
More detailed stuff please or I won't even bother to argue anymore.
March 14, 2014, 09:49:56 PM
I lost all faith in this coin when the greedy Mintcoin dev asked for 5 million MINT donation from the community to work on a Mint <-> USD exchange, after he's already received 700 million MINT premine.
He never did and you know it (could someone less tired than me (it is pretty late in my timezone) just find the permalink?) plus, he announced several fiat exchanges on this list.What I said about intellectual honesty still hold true. You know, since the price is pretty stable, you can still day-trade for mintcoins and be back in the game without bitterness
Glad to help a hard working bro get some rest! Props to Crindon:
Please show me link leading to where the developer asked for 5 million Mintcoin.
Any luck finding the link from the developer asking for 5 million Mint?
??https://bitcointalksearch.org/topic/m.5448984
Response:
https://bitcointalksearch.org/topic/m.5449312
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