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.
Topic: [ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained] - page 648. (Read 1369778 times)
March 09, 2014, 12:48:23 PM
March 09, 2014, 12:42:10 PM
I am concerned why Blackcoin tanked, would the same thing happen to MINT?
I think people are still just beginning to understand PoS. Just look at r/mintcoin. No one knows how to work their wallet. I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.
Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?
Everything is explained in first post and it's explained really carefully.
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.
March 09, 2014, 12:37:48 PM
I am concerned why Blackcoin tanked, would the same thing happen to MINT?
I think people are still just beginning to understand PoS. Just look at r/mintcoin. No one knows how to work their wallet. I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.
Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?
Agreed. I think this is the first wallet download for a lot of the newbs who came on board early with mint, so a simple run through stickied at the top may be real helpful for people who may otherwise be turned off by downloading something.
March 09, 2014, 12:36:09 PM
I am concerned why Blackcoin tanked, would the same thing happen to MINT?
I think people are still just beginning to understand PoS. Just look at r/mintcoin. No one knows how to work their wallet. I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.
Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?
Everything is explained in first post and it's explained really carefully.
March 09, 2014, 12:32:19 PM
I wonder who actually thought, that lowering the reward to 1 coin per block was a good idea. It'd need 100,000 satoshi now to be profitable.
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00
Because the initial 5 week mining was Mint's distribution model; now it switches to Proof of State where new coins are awarded as interest on your existing holdings
At the moment rate it is several full dollars off from roi when mining it.
Who starts mining now will only lose money who mined earlier just got a huge advantage if the price goes near anything profitable again. In that case I'd have made 1000 usd profit in a week.
Because the coin is not designed to be raped and dumped by ASICs and multipools. It's designed to be distributed and invested.
No miners - no network - no coins - dead.
Do you understand that we are generating coins throught PoS? Is it hard for you to understand? Or you are just trolling?
March 09, 2014, 12:30:26 PM
I am concerned why Blackcoin tanked, would the same thing happen to MINT?
I think people are still just beginning to understand PoS. Just look at r/mintcoin. No one knows how to work their wallet. I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.
Maybe someone should explain it then? Maybe in the 1st post? Maybe in some simple words that everyone can understand?
March 09, 2014, 12:29:27 PM
I wonder who actually thought, that lowering the reward to 1 coin per block was a good idea. It'd need 100,000 satoshi now to be profitable.
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00
Because the initial 5 week mining was Mint's distribution model; now it switches to Proof of State where new coins are awarded as interest on your existing holdings
At the moment rate it is several full dollars off from roi when mining it.
Who starts mining now will only lose money who mined earlier just got a huge advantage if the price goes near anything profitable again. In that case I'd have made 1000 usd profit in a week.
Because the coin is not designed to be raped and dumped by ASICs and multipools. It's designed to be distributed and invested.
No miners - no network - no coins - dead.
March 09, 2014, 12:26:36 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.
March 09, 2014, 12:23:24 PM
I wonder who actually thought, that lowering the reward to 1 coin per block was a good idea. It'd need 100,000 satoshi now to be profitable.
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00
http://www.coinwarz.com/calculators/mintcoin-mining-calculator/?h=1000.00&p=500.00&pc=0.10&pf=0.00&d=8.41065891&r=1.00000000&er=0.00100000&btcer=645.60000000&hc=0.00
This is wrong. Mint has now become fully PoS so you get coins whilst mining other coins. Its actually quite fun/profitable.
It is not nearly as profitable. Also, new miners look at coinwarz and decide what to mine, mint is at the very bottom there.
March 09, 2014, 12:21:56 PM
BTW you might want to remove mint.hashrapid.com from the list, since the pool is not paying for days and has also strange block finds ("unknown" with 0 shares in the pool stats).
March 09, 2014, 12:12:02 PM
I am concerned why Blackcoin tanked, would the same thing happen to MINT?
I think people are still just beginning to understand PoS. Just look at r/mintcoin. No one knows how to work their wallet. I think Blackcoin is going to spike once a bunch of people realize they missed the mint train, so I picked some up while their price is in the gutter.
March 09, 2014, 12:03:31 PM
whats up with the mintpal website ?
server change.
March 09, 2014, 12:03:00 PM
I am concerned why Blackcoin tanked, would the same thing happen to MINT?
March 09, 2014, 11:40:52 AM
Such a totally unexpected event! pretty cool im happy it did
March 09, 2014, 11:30:26 AM
block reward halved?
Block reward is kill. March 09, 2014, 11:29:35 AM
whats up with the mintpal website ?
March 09, 2014, 11:28:48 AM
done
Thanks for help!!!
March 09, 2014, 11:28:30 AM
block reward halved?
March 09, 2014, 11:26:33 AM
done
March 09, 2014, 11:19:11 AM
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