Topic: [ANN][MCM] Mochimo | Quantum-Proof Cryptocurrency | Official Announcement [ANN] - page 7. (Read 18793 times)

I can not wait for mining.

First off I'd like to say that I really like this project and it's refreshing to see something that's not some sort of copy and paste.

The five percent premine therefore isn't as unreasonable as some here think. In fact I'd much rather you went that route than an ICO.

However I do have a question about the BTC holders freebies that I hope you can answer.

Why would I mine this coin on day one or any time early on when I could throw my CPU mining power at let's say monero and wait for the BTC holders who got there freebies to dump there coins and drive the price way down. Then convert the Monero to BTC to mochimo and actually acquire more than if I mined directly , without actually adding anything to the network.

I understand that your hoping to get major crypto influencers on side which I applaud but many will simply dump there coins at the first chance. Have you considered having a really short cut-off period for BTC holders to claim there freebies , like so short that Mochimo isn't even listed on any exchanges yet so that when they do dump there coins it's most likely in the short spell after the exchange listing so the price impact long term is minimal and the only BTC holders with freebies long term as those with a genuine interest in the project.

Have joined the slack and will be watching this project closely really like what you guys are doing , keep it up.

Interesting project. I will watch this. 5% premine is quite high, however.

Thanks for asking.  We have a slack channel.  Here is an invite link:

https://join.slack.com/t/mochimo/shared_invite/enQtMzA4NDc3NDU3MzY2LTUwOGExMmM1YWFmMzhiYzdmOWQ5MzcxYzE1MmM3YTA5ZGVlNzZjMGJkZTc1YjM3NGQ3MTVlNWMxYzhiYWQ4NDg

This is the best place to ask questions about the project.

Thank you!

I will be on the lookout for this project.
DO you have discord channel?

Waiting to mine using Threadrippers in April

Keeping an eye on this

Well.  Check out our reasoning, and tell us what you think:  Mochimo is taking a long-game approach to being a replacement for all these quantum-vulnerable cryptocurrencies, like $BTC.  The thought process behind releasing $MCM 1:1 to holders of the flagship currency in the ecosystem ($BTC) is to carry all of the most active players in the space into $MCM, thereby incentivizing participation in our currency.  Now to answer your question regarding distribution:

There are something like 16.8 Million Bitcoins in circulation with a total cap of 21 Million.  With Mochimo $MCM we have 2^56/10^9 coins =  72,057,594 $MCM, what that means is that yes - existing $BTC whales and long term HODLers of $BTC will get a significant stake.  However, the remaining coins (after the ~4 Million $MCM premine) with still be mineable, and that's roughly 51.2 Million coins.

Now, as of Friday, the team has finalized our selection of mining algorithms.  We had three finalists, a) typical HASH256, which is a sha-in-sha a la Bitcoin, b) Cryptonight, c) Trigg's Algorithm.  There was a discussion, to describe it politely.  It lasted four hours, and we came to a final consensus.  Of the arguments on offer, the thing that really closed the deal for the people on the HAS256 and Cryptonight contingents (I was one of them), was that Trigg's algorithm is a brand new, level playing field that is ASIC-resistant.

We concluded, in summary, that we are already rewarding the existing crypto community sufficiently with the 1:1 BTC:MCM distribution, and that newcomers should be able to mine at home using Trigg's Algorithm, thus making it possible for our engaged early-adopters to accumulate large amounts of coins early with commodity hardware (home PCs, etc).

All of that said, the Mochimo Dev team is doing everything possible to take the long view on this coin and its development.  We welcome your input and feedback on these ideas.  Please feel free to find out slack page and jump into the discussions.  It is linked on our website.

great!

I recently read about quantum computing and its implications on cryptocurrency, and it's definitely on the horizon. I am keeping an eye on this project.

Just a question to the team about coin distribution though. If you get MCM at a 1:1 ratio to bitcoin, doesn't it make the distribution limited to a small group of people who already have lots of bitcoin? Not that I am questioning the morality if your ICO or anything like that.. I'm curious, will there be any other ways to purchase MCM, especially for tiny bitcoin bag holders..:p

Seems to be a good one. waiting for the wp and mining details.

Seems really an interesting project. Something different, please tell us some more on the algo...only GPU so? If somebody want to partecipate to the testnet?

And yes...please....create a Discord channel!

Thanks for a solid answer.

Why I'm extra pro-pools in your case is because it's new tech, meaning it's likely many will have issues getting started with solo mining. That in turn gives a poorer distribution.

But don't get me wrong, I like your clear launch date and perhaps you are planning something else, like a ramp up of block rewards to make sure we get a good distribution from the beginning.

No nicehash at least helps with that 😎

Looking forward to testing with you!

OH, interesting coin.

Create a Discord Chanel

It is an interesting project.
I can hardly wait for white paper and source code announcement.

Can i mine this with GPU currently i have 1070 mining rig ?