The people that move these coins around, buying and selling must like to not get free coins. Why would you day trade mint?
I totally agree, which is one thing that makes me a little nervous about the coin. If everyone holds for POS, myself included, what will happen? I'm not really interested in mining anymore because of profitability. So the question is, who will mine, and who will use the coins (and where to use them) so that mining and minting are necessary. It seems like we need a way to use these to keep the process going, otherwise it dies. Any ideas anyone has on this would be appreciated.
No, in fact the demand for this coin would go much up like in the case of Bitcoin how right now not many are selling it. The peopl who want mint would have to pay more for mint because no one is selling. economics 101 - supply and demand
+1 indeed
So you don't understand my post either. I guess I'll try and rephrase it
Mintcoin still has the functionality and advantages of POW crypto currencies. You can send and receive units of value anywhere in the world (extremely quickly and securely) for nominal fees, while also being confident that forgery and counterfeiting is impossible, or nearly impossible. You have to keep in mind though, the average person and investor will likely have little interest in mining crypto currencies, and many will have no interest in the underlying technology behind crypto currencies. If you present many people with the choice between a crypto currency that generates interest from unspent coins, versus a crypto currency with coins that people "make on their computer", which do you think they will choose?
It's not like mintcoin is suddenly unspendable, it simply generates extra coins from what you don't spend. It's like saying a person would prefer a no interest checking account with a high yield interest checking account (one with really good interest rates).
I'm not saying new people coming into cryptocurrencies won't be mining at all though, I'm just saying I've seen plenty of noobies in r/dogecoin mining with their Pentium 4s and getting 4kh/s. Most newcomers will be buying in, not mining in.
What you are saying makes sense, and I have a full understanding and complete knowledge of everything you said. My point is, how to keep it going? It has to be used somewhere. In the current P&D system we have, I can't see ANY alt crypto having much of a future. I've been mining BTC since 2011 and in that time I've seen it grow, but nothing like it should have. BTC has grown extremely resilient to external forces, but that resilience only comes from a dedicated community. And let's be honest, that community is largely made up of computer geeks (myself included). It's the same for any coin.
My opinion is that we have to achieve widespread use of Mint (or your own favorite coin). How long will any coin last unless it breaks out of the current cycle all alt coins are stuck in. Personally, I don't understand any excitement over any of the coins in place today. People are betting on Flappy, and Grumpy, and Pot, and Dope. I'm not putting these coins down, they all have their place, but it seems to prove the point that ALL alt coins are whimsical unless there can be a breakthrough to the general public. If a coin can achieve that, it would even leave BTC far behind.
I'm just trying to move things forward. The Mint community seems to be in the game for the long haul. But how long is that? Anyone thinking these coins can last without more adoption is fooling themselves.