Topic: Mangocoinz. Mining with your smartphone! Fun! Easy! (Read 2787 times)

Very good questions, it would be nice if the dev come by and answered them.

about the same as Bitcon. Glad you could be so open minded.

^^All of this!

If i can download a modded Simpsons: Tapped Out APK with 9999999 donuts, all old items, hacked to shit, ect... and play it on EA servers then imagine what a motivated programmer could do with this platform, it would be complete anarchy. For almost all apps with IAP content there is a hacked version that removes all protections. It's too easy to manipulate the Android platform. And i'm a loyal Android user, I'm not saying that's a bad thing!

pretty cool

How many coins does the creator have?  It doesn't sound decentralized.  Don't want.

it sais nothing to sync and then just stays on the same number..not getting any,

"...a daily mining limit of 10 mangocoinz (MCZ) per day, verified using a centralized, cloud-based service."

source

how many coins can you mine from your phone a day?

I'm touched that you're looking up my history to argue with me, however I don't have anything against you, just don't be surprised if the coin - if you can even call it that - fails miserably.
Last I checked this was a place for discussions and that's what I was trying to do. If you like it, go for it just don't take it too seriously and don't invest more than you can afford to lose.

While a few of your points might have some merit looking through your past posts show you are clearly focused on mining whateverthefuck coins. So you being against this coin is a very good sign so go back to Mining the shit out of coins and dumping 10% of them on some shit exchange (cause that's fair  )this is about average people, ie not you.

Right, so let me point out all the issues I found with mangocoinz:

- it's an android app, an .apk file which can be easily decompiled and manipulated.
- by default, it tracks the movement of the accelerometer and once it reaches a certain value, it add coins. And while I don't know much about android apps, I'm fairly certain you could shape or even completely eliminate the need for shaking to reach the maximum amount of coins you can get.
- the app identifies devices by their IMEI number so 1 device can only have 1 account, however it is pretty easy to emulate a huge amount of android instances with individual custom IMEI numbers on PC as there are several android emulators out there (I just mined 1 coin in an emulator with the unmodified version as a test). Or you could just might build a version without the IMEI verification so you could in theory run the app on the same device as many times as possible.
- it is very likely centralized and there's no proof of the amount of coins generated so far other than a counter on the official website.
- lack of transparency, no information regarding the coin details, future plans, no block explorers or richlists, total users, etc that I could find.
- mining has no cost associated which means it's value will be based on scarcity but some people probably went through the hoops to amass a lot of coins and they will dump them once it will get on an exchange.


So I think in essence this has too many red flags to be taken seriously.

bump!

Deserves a bump for people to see this.


*I have no relationship with developer

Something worth saying. The developer answered a question I had about supply. They do plan to limit the supply as more coins are 'mined' and it will be with an update in the app how they do so. Mining early therefore is potentially very valuable. You can get 10 a day, I see them as a dollar easy at this point if they got an exchange at this present low supply of 40,000 coins.

Honestly I'm a noob who found this and thought it deserved to be more widely known about. So I don't know much about the tech. I am doing from a user point of view and it seems brilliant. It's clearly under the radar. The developer is on the OTC thread it's seems and I did email the developer to ask a question and they answered in a professional way.

I'm confused why they haven't done any PR on here, but I sense that about to change with an exchange.

sound good ... keep focus on this thread ..

is it decentralize? p2p?

Unfair distribution is all about limited access. Anyone can download an app, anyone can ask a friend to download an app, the problem with unfair mining is you need a lot of expertise and money outlay to mine big and be a whale.


This gives access to anyone with a phone. This is about true fairness ie the mainstream, selfish miners on here shouldn't apply.


The only way I can see to game the system is have loads of phones going around in a tumble dryer or loads in a backpack. I know some have already done this but it still takes some human effort. I've bought some of guys doing this, fair play to them. I prefer this to some nerdy twat with a massive Mining computer in his parents basement

This kind of even distribution basically ends up helping people being whales who can overcome the limitation. By having no value I meant that it's not listed on any exchanges.

I'm confused by you saying the coin has no value?

No coin has 'value' until it's traded, which it already is actually OTC. But it hopefully will hit exchanges soon.

As a coin and concept it's brilliantly simple and has so much potential. I admit it's not known yet, but I think that's cause the developers haven't started or aren't savvy at PR.

The inability for someone to mine the shit out of it and be a massive whale is a good thing. You seem to be negating it for solving a problem.

I'm just stating facts which you have to interpret yourself. But in case you're curious about my opinion, I consider this distribution model a bad thing because it simply doesn't work. You can get around the limitation and I'm sure some people did. And considering that it had no value for so long when it will, those people can do whatever they want with the coin.