On which day the coin will be in PoS ?
this is the first day 100% pos.
Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 645. (Read 1369778 times)
March 09, 2014, 05:09:32 PM
this is the first day 100% pos.
March 09, 2014, 05:02:06 PM
LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.
I did some rough math and it works out at 10 million mintcoins generated a day by POS across the entire network. 10 million mintcoins is valued at 2 btc approximately right now.
March 09, 2014, 04:56:10 PM
I do have a question for DEV team:
What happens to the mined coins that do not get confirmed in my wallet? I have around 10 mined transactions that have a question mark by them and the coins were not added to my wallet in these transactions.
EX:
Amount: [579.377534]
Status: 0/unconfirmed, broadcast through 44 nodes
Date: 3/8/2014 15:43
Debit: 0.00 MINT
Net amount: -50179.222865 MINT
Transaction ID: bc6f6e9e07b3edc4762d0b036ec17ae868b2dd19f39d701d9e6ec387e7468575
Generated coins must mature 50 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, its state will change to "not accepted" and it won't be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.
Please explain
What happens to the mined coins that do not get confirmed in my wallet? I have around 10 mined transactions that have a question mark by them and the coins were not added to my wallet in these transactions.
EX:
Amount: [579.377534]
Status: 0/unconfirmed, broadcast through 44 nodes
Date: 3/8/2014 15:43
Debit: 0.00 MINT
Net amount: -50179.222865 MINT
Transaction ID: bc6f6e9e07b3edc4762d0b036ec17ae868b2dd19f39d701d9e6ec387e7468575
Generated coins must mature 50 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, its state will change to "not accepted" and it won't be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.
Please explain
It is orphaned means someone else mined it before you did.
March 09, 2014, 04:55:22 PM
LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.
And we are working on that part. And more.You are doing a great job, David
March 09, 2014, 04:46:51 PM
LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.
And we are working on that part. And more. 
March 09, 2014, 04:46:28 PM
On which day the coin will be in PoS ?
March 09, 2014, 04:44:26 PM
It is not as it leaves alot of people puzzled
Quote
Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.
Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.
Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.
edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.
You didnt get the whole economy/money thing what I wrote about.
Deflationary coins are bullshit when people realize that the marked stales.
Bitcoin is bullshit? Nextcoin is bullshit? News to me.
-_- maybe try with reading my posts.
But your posts seem rather pessimistic, with nothing concrete to support the claims. In other words... FUD. Perhaps you will be right, but lets just wait and see what happens.. Only time will tell.
I backed them up with comparing to existing commodities and currencies and even actual politics, that try to keep their money fluid. I recently read a good article why deflation is poison for a economy, unfortunately it's in german so hard to quote here. Although, money (currencies) need fluid flow because they have no physical value when they are not a medium for transactions while commodities like gold or raw goods have physical value and are consumed this way. You can not do anything with coins besides spending them, and if you don't, they are as worthless as the physical value of the papersheets in your pocket that you can as well use decorating your walls if you are not going to spend them.
LOL, who said that mint is deflacionary ? 10 millions of mintcoins are generated by mint DAILY from now, and your assumption that no one mintcoin would be spent is plain wrong, all depends of the price to buy it, or the items that merchants offers.
March 09, 2014, 04:43:21 PM
In your opinion, what could be the higher price of MINT during the PoS time ? 
We've reached 45 sat a few days ago, so now mining and dumping seized perhaps double that number.
March 09, 2014, 04:39:15 PM
Hi
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
Mining and Minting are two different and independent processes. If you want to know if you are mining type 'getmininginfo' into the console. How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
March 09, 2014, 04:35:23 PM
In your opinion, what could be the higher price of MINT during the PoS time ?
March 09, 2014, 04:30:11 PM
I am concerned why Blackcoin tanked, would the same thing happen to MINT?
BC tanked along with every other altcoin these last weeks. I think the AUR/MZC craze has contributed to the decline of a lot of alts, too. People are selling what they have to make money off of AUR etc at the moment, so a lot of capital is tied up in those alts. People have had their eye on Mint (and Black for that matter) for a while now, so it's in the forefront of the community's consciousness. That's a huge plus. Once people realize the potential in Mint and Black, which probably won't take long, we will see serious increases in price. Just wait for some capital to be freed from the coin-of-the-week.
Also BC don't have merchants that accept it. Mintcoin have ! BC by now is just pump & dump if it don't have use.
March 09, 2014, 04:05:43 PM
Hi
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
click Help / Debug Window / Console
Type walletpassphrase "YOURWALLETSPASSWORD" 9999999 true
and press enter
You 'll see the the lock icon (down right corner) unlocked.
March 09, 2014, 03:59:13 PM
Hi
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
http://www.reddit.com/r/MintCoin/comments/1zgpcz/how_do_you_unlock_the_wallet_to_allow_pos/cfthrxx
March 09, 2014, 03:47:18 PM
Hi
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
How do i know if my wallet is really mining? In the bottom left corner of the window it says: Info: Minting suspended due to locked wallet. Is this right, or what do I have to change to mine with PoS?
Cheers!
March 09, 2014, 03:40:09 PM
My MintCoin QT doesn't seem to be installed on my computer whereas my other wallets do. It works perfectly by just clicking the exe file in the extracted folder. Is this normal or should I be worried as it won't work correctly?
March 09, 2014, 03:39:54 PM
Types of coins:
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.
This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.
POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.
The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.
HTH.
POW (proof of work) ala DOGECOIN: coins are earned via mining
POS (proof of script) ala NXTCOIN: coins are are earned via holding them in your wallet.
POS/POW Hybrid (ala MINTCOIN): First coins are earned by mining, then by holding the wallet.
This may be a new concept to many miners.
Just download the wallet and leave the coins there, then after 30 days you will receive coins at the rate of 20 percent per annum.
POW coins with low difficulty and high reward are good to mine.
POS coins that are virtually unmineable are better to buy/ invest/ hold.
The coins higher up on the coinwarz list simply means the multipools are mining it and will soon dump it.
Mintcoin is now safe from this possibility.
My advice is to avoid buying/ holding coins at the top of coinwarz.
HTH.
Currencies need spendings, need flow. You describe a hyper-deflationary modell and there is a reason why states try to encourage the citizens to spend their money, because massive bagholding is killing egonomy.
What you want with mintcoin is something like gold. Deflationary investment. But cryptocurrencies are not gold, they are worthless without money flow. Gold can be kept and gold has a purpose aside from investment. Gold is needed for electronics, in science and jewellery so there will always be some demand for gold and someone will sell gold when the price is high enough. That's the same problem that will come to bitcoin eventually: No sense in mining it and when you hold it, it will become more worth tomorrow, so price increases. But at some point it will be impossible to get via mining and impossible to get via buying because almost everyone just holds. Satoshi, being mathematically genius, confused gold with money as he created bitcoin. Currencies like dogecoin have more future because of their inflationary model. They will not increase in price unlimited but they will reach a certain level where spending/buying makes sense.
What nonsense! Go ahead and invest in a coin with zero return on investment! Where do you think your gains will come from, the hope of a capital gain, is that all?
And please, don;t compare bitcoin to gold. Bitcoin can be replicated a million times over as shown by the numorous clones. Now go ahead and explain how you can clone gold? I think I know what I'll choose. Blue chip stocks pay a dividend. Shit coins don't. End of story.
Besides your just shitty u cant mine and dump this coin. Well as a holder, Im glad.
Time for you to move or simply point your miner at a multipool!
This discussion is as old as bitcoins are and came up again refreshed (though with same arguments) when dogecoin decided inflationary modell.
There are basically two sides in this dicussion: Those that understand economics and those that dont.
And then there are these bitcoin evangelists defending bitcoins deflation and turn around claim how this will be the new currency, not noticing how they contradict themself.
And, when bitcoin is digital gold and someone clones bitcoin it doesn't mean that they cloned gold. They just brought up another commodity beside bitcoin competing on the same market. Unless they follow a completely other concept. And that's the reason, why coins like dogecoin will outlive bitcoins in the long run if they stay active that long. Inflationary coins stay fluid while deflationary cryptos will stale.
Bitcoin will always be there.. as a commodity but not a currency I believe. There are better coins out there that will do the job of everyday tx...
What you need is:
1) Something where mining is irrelavent (pos is good for that)
2) Yet secure.. merged mining bitcoin means its secure yet mining is not a problem.
3) Predictable inflation. NOT dynamic inflation like PPC.. dynamic inflation leads to incentove to game thr system for profit.
read this about a quote from the dogecoin site from a professor of economics: https://bitcointalksearch.org/topic/m.5599093
4) Provide inherent utility.. blockchain does this..
So far only 1 coin fits that bill and its DevCoin.. miners get 10% of each block and mining is not a problem since its merged mined with bitcoin. So mining is like free.. 90% goes to people who work to earn. Even businesses etc. So there is far more utility than dogecoin.
No more coins can be released merged mined because of asics.. so reallly it makes sense this would be the one and all other coins lost in dust. It was designed to be it. Bitcoins addresses are interchangeable to DevCoin if you can send dvc to btc wallet and vice versa.. so that in the future one address may be meeded for both. or people switch to dvc without losing private keys.
I knew your agenda would reveal itself eventually.
March 09, 2014, 03:36:24 PM
huge pump planed!
big buywall on 19 sat @34 BTC
big buywall on 19 sat @34 BTC
that buywall is there since this morning (utc+1).
March 09, 2014, 03:16:22 PM
Your right and dont expect the noobs in here to understand what you are saying... You need inflation in a deflationary model.. not inflation tending to zero.. Its a failure by design.
Bitcoin will always be there.. as a commodity but not a currency I believe. There are better coins out there that will do the job of everyday tx...
What you need is:
1) Something where mining is irrelavent (pos is good for that)
2) Yet secure.. merged mining bitcoin means its secure yet mining is not a problem.
3) Predictable inflation. NOT dynamic inflation like PPC.. dynamic inflation leads to incentove to game thr system for profit.
read this about a quote from the dogecoin site from a professor of economics: https://bitcointalksearch.org/topic/m.5599093
4) Provide inherent utility.. blockchain does this..
So far only 1 coin fits that bill and its DevCoin.. miners get 10% of each block and mining is not a problem since its merged mined with bitcoin. So mining is like free.. 90% goes to people who work to earn. Even businesses etc. So there is far more utility than dogecoin.
No more coins can be released merged mined because of asics.. so reallly it makes sense this would be the one and all other coins lost in dust. It was designed to be it. Bitcoins addresses are interchangeable to DevCoin if you can send dvc to btc wallet and vice versa.. so that in the future one address may be meeded for both. or people switch to dvc without losing private keys.
Goodluck with holding your dev coins noob, you will be diluted into oblivion through endless coin production. Sheesh, talk about hyperinflation, devcoin is exactly that.
That is like holding a share and the CEO keeps issuing billions of shares daily at a constant rate your portfolio will soon be zero.
March 09, 2014, 03:10:33 PM
March 09, 2014, 02:55:44 PM
I do have a question for DEV team:
What happens to the mined coins that do not get confirmed in my wallet? I have around 10 mined transactions that have a question mark by them and the coins were not added to my wallet in these transactions.
EX:
Amount: [579.377534]
Status: 0/unconfirmed, broadcast through 44 nodes
Date: 3/8/2014 15:43
Debit: 0.00 MINT
Net amount: -50179.222865 MINT
Transaction ID: bc6f6e9e07b3edc4762d0b036ec17ae868b2dd19f39d701d9e6ec387e7468575
Generated coins must mature 50 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, its state will change to "not accepted" and it won't be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.
Please explain
What happens to the mined coins that do not get confirmed in my wallet? I have around 10 mined transactions that have a question mark by them and the coins were not added to my wallet in these transactions.
EX:
Amount: [579.377534]
Status: 0/unconfirmed, broadcast through 44 nodes
Date: 3/8/2014 15:43
Debit: 0.00 MINT
Net amount: -50179.222865 MINT
Transaction ID: bc6f6e9e07b3edc4762d0b036ec17ae868b2dd19f39d701d9e6ec387e7468575
Generated coins must mature 50 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, its state will change to "not accepted" and it won't be spendable. This may occasionally happen if another node generates a block within a few seconds of yours.
Please explain
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