[ANN][MID]MidasCoin|New Scrypt PoM|Backed Value|ATM card|Referral|NO IPO|UNIQUE - page 34.

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: brian_nguyen on September 02, 2014, 03:40:45 PM

WeCoin did this a few months back. Miners' hashrate will be used to mine other coins to gain BTC.

Situation and distribution are very different.

They distributed a premine.

Here there is no premine, but LIVE mining with the custom PoM distribution system, that is made for switch on the fly between network securing and reserve building, when possible.

brian_nguyen

legendary

Activity: 1404

Merit: 1001

Quote from: MidasCoin on September 02, 2014, 03:04:55 PM

Quote from: studio1one on September 02, 2014, 02:42:34 PM

What happens to the mmined coins from the other chain?

"The Proof of Mining distribution system uses a different approach to securing the MidasCoin blockchain. Instead of “wasting unneeded hash power” for securing the network, which unless under attack can be secured with much less hash power, it uses 95% of the hash power to “secure another” blockchain."

"This increase the reserve fund that grants the backed MidasCoin value, actual and future"

The midascoin value is determined by the total reserve / 7,611,236 (amount of coin to be issued in 36 months)

With the PoM system using unneeded hash power for increase the reserve the fund, the midascoin backed value increase every day (value is recalculated every 10 seconds)

Quote from: brian_nguyen on August 28, 2014, 09:33:13 PM

It does remind me of WeCoin

WeCoin did this a few months back. Miners' hashrate will be used to mine other coins to gain BTC.

https://bitcointalksearch.org/topic/pre-ann-wecoin-keccak-public-premined-coins-join-the-premine-now-502337

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: studio1one on September 02, 2014, 02:42:34 PM

What happens to the mmined coins from the other chain?

"The Proof of Mining distribution system uses a different approach to securing the MidasCoin blockchain. Instead of “wasting unneeded hash power” for securing the network, which unless under attack can be secured with much less hash power, it uses 95% of the hash power to “secure another” blockchain."

"This increase the reserve fund that grants the backed MidasCoin value, actual and future"

The midascoin value is determined by the total reserve / 7,611,236 (amount of coin to be issued in 36 months)

With the PoM system using unneeded hash power for increase the reserve the fund, the midascoin backed value increase every day (value is recalculated every 10 seconds)

studio1one

hero member

Activity: 1218

Merit: 500

BintexFutures

Quote from: MidasCoin on September 02, 2014, 11:57:52 AM

Quote from: litecoin111 on September 02, 2014, 11:19:18 AM

By mining with PoM you’re helping two blockchains at once!
------

What other coin is this helping?

Hello,

Helping another blockchain will ensure our reserve fund to grow, and this will unsure currency backed value to grow.

The secondary blockchain that our PoM system will help is variable and not relevant to the final goal.

What happens to the mmined coins from the other chain?

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: coke15 on September 02, 2014, 01:49:59 PM

transparency!

world of coin is diyng with the scamcoin.
edit:
sorry, hi

Hello,

We talked for long on our skype interview with the CEO of Coinssource about the dramatic situation of the alternative coin ecosystem, providing all the documents of the Midas Payment LTD and the director of the our company.

That's also why we implemented in our currency a clear revenue model, that is transparent and available for anyone to check. Don't trust projects without a clear and transparent revenue model, otherwise there is an high risk of getting involved in a grey financial scheme (or worst).

coke15

member

Activity: 176

Merit: 10

transparency!

world of coin is diyng with the scamcoin.

edit:

sorry, hi

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: litecoin111 on September 02, 2014, 11:19:18 AM

By mining with PoM you’re helping two blockchains at once!
------

What other coin is this helping?

Hello,

Helping another blockchain will ensure our reserve fund to grow, and this will unsure currency backed value to grow.

The secondary blockchain that our PoM system will help is variable and not relevant to the final goal.

litecoin111

full member

Activity: 205

Merit: 100

Quote:

The shares that you send to the pool are not evaluated against the Midas blockchain, but to another blockchain. When the share is accepted as valid work towards the other blockchain (which we’ll call the upstream blockchain from now on), it will also be counted on the Midas blockchain.

By mining with PoM you’re helping two blockchains at once!
------

What other coin is this helping?

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: bitcoinwonders010 on September 02, 2014, 08:13:42 AM

keeping a eye on this

welcome aboard . You will not be disappointed Cool

bitcoinwonders010

hero member

Activity: 686

Merit: 500

keeping a eye on this

MidasCoin

newbie

Activity: 42

Merit: 0

Italian translation added to the first post. https://bitcointalksearch.org/topic/annmidmidascoinnuovo-scrypt-pomvalore-sostenutoatm-schedaunique-766377

The community is showing great support for this project, and we thank you all for this!!

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: LordPiccolo on September 02, 2014, 04:09:16 AM

Quote from: btcltcdigger on September 02, 2014, 04:04:09 AM

Is CryptoRush still alive?

yes, Sadly!

We are aware of the cryptorush background, but they submitted an auduting request following the correct procedure and we don't deny audit to anyone; this mean that we will start our audit on 'em soon. Community will be kept updated.

Quote from: BitcoinFr34k on September 02, 2014, 05:42:00 AM

congratulations, this coin may develop into large
do not wait to wait for the countdown is complete

Thanks for your appreciation, don't hesitate to contact us for every needs.

BitcoinFr34k

hero member

Activity: 504

Merit: 500

✓

Quote from: tk808 on September 01, 2014, 06:08:31 PM

As Requested, Coins Source confirms that MidasCoin & The Payment Network have recieved a 6/7 Trust Verification Score.

You Can read the full Review here:

congratulations, this coin may develop into large
do not wait to wait for the countdown is complete

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: chisefu on September 02, 2014, 04:28:55 AM

Banks don't do a good job, remember what happened in 2008/2009?

This say it all

Quote from: studio1one on September 02, 2014, 04:36:14 AM

looks very interesting, will mine for sure

Thanks for your appreciation.

Don't hesitate to contact us for any other information/assistance that you may need.

studio1one

hero member

Activity: 1218

Merit: 500

BintexFutures

looks very interesting, will mine for sure

chisefu

hero member

Activity: 602

Merit: 500

Quote from: filipe3x on September 01, 2014, 07:09:51 PM

Quote

Impossible to Instamine in the beginning. Minable only through the PoM official pool Midaspool.com. Solo mining is voluntary contribution to network stability and will not produce any rewards (except our gratitude)

Well, this very far from a true decentralized cryptocurrency.

If I wanted a centralized system, I'm sticking to the banks which already do a pretty good job.

Quote

Coins backed by REAL GOLD held in a gold reserve with a minimum guaranteed daily increment

Hmmm

Good luck to anyone whos mining this!

Banks don't do a good job, remember what happened in 2008/2009?

LordPiccolo

hero member

Activity: 1022

Merit: 1000

Quote from: btcltcdigger on September 02, 2014, 04:04:09 AM

Is CryptoRush still alive?

yes, Sadly!

btcltcdigger

hero member

Activity: 2086

Merit: 761

To boldly go where no rabbit has gone before...

Is CryptoRush still alive?

King Dragon

newbie

Activity: 22

Merit: 0

Quote from: MidasCoin on September 01, 2014, 08:53:18 PM

Quote from: King Dragon on September 01, 2014, 08:10:16 PM

This looks very promising for a strong future and I would love to help build that future by looking into the possibilities of listing MidasCoin on CryptoRush.

I warmly invite an audit of the security and integrity of our current systems in order to provide and ensure the best experience for MidasCoin owners.

Hello,

Like stated in the first post of the topic, any exchange that aim to list MidasCoin officially, will be audited in details.
Things that we value most are: Cold walleting procedures - Recognized identity of the people running the business - Security auditing reports by third party company - Customer support

If Cryptorush offer this kind of guarantees , proceed and submit a ticket to the proper department on http://midaspay.io/helpdesk providing the best way for reach you. Our security department will contact back for start the audit and, in case of approval, for instruct on the better way to integrate MidasCoin in your system.

Regards

Excellent. CryptoRush can and will provide the information needed to meet your requested guarantees.

We have submitted a ticket as requested.

MidasCoin

newbie

Activity: 42

Merit: 0

Quote from: King Dragon on September 01, 2014, 08:10:16 PM

This looks very promising for a strong future and I would love to help build that future by looking into the possibilities of listing MidasCoin on CryptoRush.

I warmly invite an audit of the security and integrity of our current systems in order to provide and ensure the best experience for MidasCoin owners.

Hello,

Like stated in the first post of the topic, any exchange that aim to list MidasCoin officially, will be audited in details.
Things that we value most are: Cold walleting procedures - Recognized identity of the people running the business - Security auditing reports by third party company - Customer support

If Cryptorush offer this kind of guarantees , proceed and submit a ticket to the proper department on http://midaspay.io/helpdesk providing the best way for reach you. Our security department will contact back for start the audit and, in case of approval, for instruct on the better way to integrate MidasCoin in your system.

Regards

Topic: [ANN][MID]MidasCoin|New Scrypt PoM|Backed Value|ATM card|Referral|NO IPO|UNIQUE - page 34. (Read 63996 times)