Topic: [ANN][MZC][SHA-256] MAZACOIN *First Sovereign Currency* ANDROID WALLET AVAIL.!! - page 89. (Read 278416 times)

What a depressing state of affairs for Mazacoin.

It appears to me Mzc has been abandoned. There is very little input from the tribe or whoever pulls the strings. Did they make a few bucks and say " hell ... that's good enough .. time to put our feet up".

You would think there would be some kind of push on but there is nothing.

that sounds about right to me......

look on the bright side...1000mzc is $2.60 you can buy 1 dollar burger and 1 dollar fries at mcdonalds value meal ....
tht should feed alot of ppl for a week at least right just take small bites..
sucks you dont have enough for a soda...guess u can ask for a cup of water....

I think you're dead wrong with the assumption that the tribe will set the "real price" of the coin, and here's why: Say they have a grocery store and someone wants to buy 1 weeks worth of food with 80 maza lets say, the whole supply chain would have to agree on such a price for it to work. So what this means is the grocery store pays for their supply of goods from outside vendors and distributors, who would have to agree to the maza standard and accept it's worth. Then, they would have to pay the individual food brands who supply the store in maza who would have to pay their workers in maza, etc...  

The whole system breaks down immediately because if I want to buy a loaf of bread with 1 maza lets say, the store who is selling that loaf to me actually paid USD for it from their vendors, and so on and so on. The entire chain of supply would have to acknowledge to a universally standard of what 1 maza is really worth. Otherwise, the store clerk would say, "wait a sec, we just paid $1.50 for this bread in real money and now we're selling it for something worth less than a penny?"

Correct me if I'm wrong here, but I think adopting a different standard for the worth of maza outside of what the market says is completely pointless, because the supply chain simply won't allow it. Now if you have two people who independently create something and sell/trade with each other, then yes, they can price 1 maza for whatever they want. Once you add in outside factors of the supply chain, then you would have to convince each and every factor to adopt the "real price" according to the tribe.  The supply chain extends to everything you could think of...buildings, streets, schools, food, gas...whatever. Each industry has multiple supply chains and countless companies who agree to the USD value of goods and services. I highly doubt anyone of those checkpoints in the supply chain are going to spend millions of USD on supplies or services and get paid on the backend with the "real value" of maza. Sure, they can get paid with maza, so don't get me wrong there. But the price of each maza will solely depend on USD market value.

So, it truly is the investors who set the price of the coin and not the tribe saying, "No, Maza is worth $1 each on the reservation." It doesn't work that way because 99.9% of the supply chain works outside of the reservation to produce the goods and services to bring into the reservation and as such, it spends USD in doing so.

Again, please correct me if I'm wrong.

What honestly did they expect? This was almost always going to happen, and to think the Mazacoin devs didn't see it coming would be incredibly naive.

If this coin is legit, then it's current price on the market is meaningless. If the coin is being used to actually support a real sovereign state, then they can set the value per coin at whatever they damn well please! This idea that the market value has any bearing on their ability to dictate the value is just utter nonsense.  

If they said the value per Maza was x, and the coins were used at x price, then the market price will follow. Not the other way around. If the Mazacoin devs turn around and blame the market prices on why they couldn't release this coin to the Maza people, then this pretty much tells you it was a scam from the start.

completely done with this mess...

maybe version will do better even when the blockchain is forked now...

+1

i concur....

sadly this coin will become what the devs didnt want....

which is strictly a pump and dump coin....

it was pumped and dumped before it got to cryptsy...

then dumped when it hit cryptsy...

noone is gonna accept a pup an dump coin as currency...

i could be wrong...who knows

surely not ... https://twitter.com/FontasPumps/status/445928189475315713

https://twitter.com/FontasPumps/status/446280993209450497

Maybe he's talking about Maza.

"http://cryptominers.freeforums.org/a-statement-by-the-master-coin-maker-of-mazacoin-t58.html"

-> I see, well it was great to have this answer from the Pirate. Thank you for that.

From here on it's in the hands of the native American spirits.

Brothers, we have bled hard. I have still few drops left in my veins, so I will wait and see for the air drop of Aurora. We are bind to them, wanted or not.

- Tomi

http://cryptominers.freeforums.org/a-statement-by-the-master-coin-maker-of-mazacoin-t58.html

So you are saying that your coin GrumpyCoin is more professional than MazaCoin because you changed the color scheme and icons inside of litecoin-qt? If you want to go this route, you would also have to criticize Litecoin and Feathercoin and all the other coins that look exactly the same. What purpose does your coin serve? What the hell do you mean by "fun currency"? Is it fun because you are using comic-sans font, or have a picture of a grumpy cat? In your community do you not use proper English grammar when communicating with one another, and laugh at how absurd this all is? Can you honestly imagine yourself, or anyone else for that matter and buying anything from retail with a coin called GRUMP? Your coin is junk, along with most of the other alts out there.

49miner - why will not Boxxa and the Pirate adjust the fork?

I agree that P. Harris should get the tribe behind the coin. It would be a great chance for them, and for the investors.

Let us wait and see will he build a solid foundation to the coin.

- Tomi

The only way to maybe fix this, in my opinion, is first fork the coin so miner rewards aren't quite as much. The price needs to stabilize. Any lower, and 1000 maza = $1 or less.

Payu needs to show up here, or at the least, he needs a PR person here in this forum. They need to make updates once in a while, listen to concerns, and answer questions. And keep Boxxa away from dealing with real people. Or maybe find a new dev completely.

They badly need a tribal council agreement, if not with Lakota, some tribe. Anything official. Even if not made a 'sovereign currency', they need some type of agreement with some tribe, somewhere, that the coin will be used in their community. And this tribe needs to announce something officially.

Payu needs to find retailers that accept maza, either online or ideally in the Indian communities. They need to come up with a rational plan for distribution ... paper wallets, or something. Faucets or signups could work, IF the community had internet access/pcs/smartphones... but seeing as they probably don't, it may not make any sense.

If the coin sinks any further, just pack it in and use the premine to fund some Indian causes or help the Indian community with a project.. Convert to bitcoin, pay for said causes, and walk away.

"The Future National Currency of the Traditional Lakota Nation"

so another national currency

The fucked up thing is that, that might not even do much. I mean, that is really THE only thing that could possibly make things better. That isnt going to do anything for the miners. So the coin is officially a small poor nations currency. What then? How do we get the lakotas to start using these coins? Using an android wallet by buying smartphones with their 1000 maza ~ $3.00 USD? oh wait.  Ok so maybe this coin will be able to be used as a currency at some casinos, it is still going to take a long time for the value of the coin to rise. keep your maza on a harddrive, forget it ever existed, check back in about 3 years, hey, you may have just gained 20.00 usd to a couple hundred. Wow. such riches. is Payu a shibe? wow, so scam!

Not certain what you're saying here but all I know is the guy is an idiot and this thing was dead before it started. Whether he started it as a planned scam from the start or it just became a scam somewhere along the way is irrelevant at this point. The tribe was wise for not taking him seriously.

the reason i throw the term fraud out there is he said things repetitively in the Media that are absolutely not true, and people invested money based on the things that he said.

the gofundme page was the ultimate nail in the coffin, the guy already scammed over $1k out of people claiming to be raising money for a organization that he founded again that has no affiliation with the Lakota tribe.  The gofundme with no transparency whatsover for said plan, he just accept payments.  To me he just found another angle to work this scam, but in time everything will come out so these are just my thoughts

I wouldn't call Payu a fraud. I might call him incompetent, but I won't say there is proof of fraud.

The moment that I knew I should get out of the coin is when I watched one of his youtube videos. The coin was sinking, people here were begging for the devs to show up, to chat about concerns, fork the coin to reduce miner rewards... do something.

And he puts up a video of himself sitting in a lake instead. I realized at that point he may not exactly know what he is doing.

I think the only thing investors can do now is just sit back and pray that payu eventually gets that little piece of documentation along with a picture stating he has the council's full backing to implement it.  Until then, expect a lot of dips and sideways action for as long as it takes.  I'm currently completely out of maza and have been trading other coins in the meanwhile, as it has seemed to stabilize within the 4-500 region and is very difficult to arbitrage right now.

once i found the gofundme page http://www.gofundme.com/4uridc for Payu , That was when i dumped my losses... if you look at coinmarketcap the release date, peak, and dump are all right around the same time as AUR.  Weird how this coin got so much real media exposure when the guy is a straight up fraud and has no affiliation with the Lakota tribe.  I definitely took a good lesson with this coin.  hopefully the last time i fall for one of these shakeouts