Everyone is coming up with great ideas, please be sure to let Tofer know if and how you can
contribute to these projects
Topic: [ANN][MUN] Muniti: First touristic cryptocurrency - X11, D2D - Multi-algo soon - page 17. (Read 120459 times)
May 11, 2014, 01:41:52 PM
May 11, 2014, 12:29:11 PM
Its good idea - Pos!!!
how about double spending attacks on Pos?
if a coin is pure pos then its network has rate will go down substantially and then it becomes really easy to attack the network and double spend
a high hashrate and the longest chain rule is what protects Pow coins
There's plenty of discussion of these issues in the threads of PoS coins like Blackcoin, Cinni and Peercoin. You should go check it out if you're curious. If a coin goes 100% PoS then hashrate doesn't matter and the main issue is forking due to PoS exploit that rat4 claims to have solved. I believe his github fix is opensource which could be used. He has a method for determining the longest chain if it gets forked and he simply goes off of that. Also I believe Peercoin is still going which is still a hybrid PoW/PoS. Either way there are plenty of successful PoS coins and if they could be forked and manipulated for double spending then I'm sure many would have already done it.
May 11, 2014, 10:41:16 AM
Its good idea - Pos!!!
how about double spending attacks on Pos?
if a coin is pure pos then its network has rate will go down substantially and then it becomes really easy to attack the network and double spend
a high hashrate and the longest chain rule is what protects Pow coins
May 11, 2014, 06:18:34 AM
Its good idea - Pos!!!
May 11, 2014, 06:11:58 AM
What a bunch of great IDEAs! Seems the discussion is going to a real innovative kind of coin. Keep innovating!
May 11, 2014, 05:44:26 AM
How hard would it be to design something like this, 'PoL' (proof of location)
You divide Malta up into say 10,000 square grids, each with their own gps point. Then in a similar fashion to foursquare you 'check in' at one gps point by staying there for a few seconds with a phone app. Then all the coins are divided up to those in the proportion of how many square grids they 'own'. This would get people out and around exploring the less travelled bits of Malta and allow anyone, even those without mining equipment or large share to start with, to get involved.
You divide Malta up into say 10,000 square grids, each with their own gps point. Then in a similar fashion to foursquare you 'check in' at one gps point by staying there for a few seconds with a phone app. Then all the coins are divided up to those in the proportion of how many square grids they 'own'. This would get people out and around exploring the less travelled bits of Malta and allow anyone, even those without mining equipment or large share to start with, to get involved.
May 11, 2014, 05:38:53 AM
Please wait a while before going PoS so I can buy a bunch lol. The price would skyrocket. Is there any other PoS country coin? I'm not aware of any.
You would have to increase block rewards though to reach the 76 million or else the premine % would change.
Just make it 1% stake or something. That's enough to make people have full nodes but not enough to stifle the market. Tourists aren't going to care if they could get an extra 1% over the course of a year if their purpose is to spend it during their 1 week trip or whatever. Plus it will reward Maltese citizens and those who have a stake in the Maltese economy so they will get the most stake rewards.
You would have to increase block rewards though to reach the 76 million or else the premine % would change.
Just make it 1% stake or something. That's enough to make people have full nodes but not enough to stifle the market. Tourists aren't going to care if they could get an extra 1% over the course of a year if their purpose is to spend it during their 1 week trip or whatever. Plus it will reward Maltese citizens and those who have a stake in the Maltese economy so they will get the most stake rewards.
May 11, 2014, 04:24:43 AM
I would suggest distributing the MUN with PoW for a period, at least after the distributing it to the residents of Malta. Then make the decision to go to PoS or not.
In this way, MUN can reach more people and spread its influence.
In this way, MUN can reach more people and spread its influence.
May 11, 2014, 03:28:14 AM
Hi radi
Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?
Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?
PoS militates in favour of retention rather than spending. Also, PoS coins are much more difficult to market than PoW coins, which spread rapidly through the miners' network. There are two options:
1) Either wait for the value and trust in cryptocurrencies to rise again hence giving miners a bit of leeway and an incentive to hold coins rather than dump every single earning to break even on power costs
2) Transit to PoS
It's a bit of a "six from one half, a dozen from the other" sort of situation. We'll certainly discuss it in detail.
May 11, 2014, 03:03:54 AM
Hi radi
Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?
Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?
It's good idea.
May 10, 2014, 09:23:41 PM
Hi radi
Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?
Have u thought about transitioning muniti from a pow to a pos coin? Lately all pow coins seem to be under pressure because of miners dumping. I only see the trend getting stronger going forward. Any thoughts on transitioning muniti from a pow to a pos coin while it's still young enough?
May 10, 2014, 04:26:37 PM
Hoping for a top finish for Malta in the Eurovision!
May 10, 2014, 08:30:47 AM
Polonex for start ist to be good, lets wait.
Poloniex is a really bad exchange, it seems no one remembers anymore they got hacked, they took the stolen btc from their (remaining) traders and they are still having problems every second day with uptime
They are refunding the btc to the traders step by step and have been transparent with their hack. This is more than most others have done within similar situations.
On the other hand I agree that their site is slow now, and there is no much volume ... and I hate the catpcha authentification process.
For me it is a good step for muniti to be on this exchange. I have already sent a ticket to poloniex support and I will do it again.
What would you do if your bank comes and says "oh sorry, we're robbed.. We will deduct the robbed amount from your bank account and give it back to you once we have enough.. Thank you "
...
For poloniex, they made mistakes, but took responsability and made their best to compensate customers. I appreciate.
May 10, 2014, 06:01:38 AM
This coin will be used for trading for real, as a true currency, not like other stock-like crypto, imagine in someday you can book a hotel, buy souvenirs, have good food and drinks, enjoy your vacation at one of the best island in the world, with just a digital wallet piled up with muniti, it would be extraordinary, I cant wait till my own trip to Malta, yeah.
May 10, 2014, 03:28:40 AM
Ok, so I managed to sync the wallet by simply deleting all files and launching the wallet again with the previous wallet.dat file.
that worked
May 10, 2014, 03:04:30 AM
Good news! Polonex!
May 10, 2014, 02:43:02 AM
Haven't been here for a while. Do I need to update the wallet, it seems stuck?
May 10, 2014, 02:34:35 AM
I like this coin because you can get coins to for free and the wallet works great!
May 10, 2014, 01:13:25 AM
Everyone is coming up with great ideas, please be sure to let Tofer know if and how you can
contribute to these projects
contribute to these projects
May 10, 2014, 01:03:50 AM
Hey guys! Poloniex Wallet Manager here. We just added Muniti to the exchange: https://poloniex.com/exchange/btc_mun
If you have any questions, please reach out to a moderator in the trollbox, or make a ticket here: http://poloniex.freshdesk.com/support/home
Happy trading!
If you have any questions, please reach out to a moderator in the trollbox, or make a ticket here: http://poloniex.freshdesk.com/support/home
Happy trading!
Thanks tf2honeybadger, it's a pleasure to be working with you.
Jump to: