[ANN] Minereum - First Self Mining Smart Contract

[Dmitro777]

Hello MNE community, I am considering a large investment in Minereum and Artemine but have some questions I was hoping someone on here would be kind enough to clarify for me.

 -Why is the Minereum way of mining superior to traditional mining infrastructure that most of the crypto world relies on?  Is this algorithm that mines "on the fly" quicker or more efficient in someway?

 -Does Artemine mine the same way is Minereum?

 -What specifically am I purchasing in the Artemine ICO?  I see on previous discussions you're technically purchasing a Genesis Address.  So, if I were to purchase 100k Artemine, I'm really purchasing one Genesis Address that will generate 100k artemine tokens over 60 years, correct?

Thank you all!

1. The self mining principle is more efficient in the sense that no miners are directly required for the generation of coins. For more information on this process refer to the whitepaper and/or news articles that can be found on the initial page of this thread.

2. Yes Artemine self mines in the same principle as Minereum, in addition, Artemine will allow Public Mining.

3. When you contribute in Artemine you will be getting in return a Genesis Address that will generate the allocated amount of coins for a period of 100000000 ETH Blocks, the period in time depends on the ethereum blocks duration over time, at current avg block time of 20 seconds it will last for about 60 years.

Is there any way to purchase a number of ART coins without buying a genesis address? I can't imagine ART being able to be listed on an exchange is there isn't a circulating supply

The genesis addresses will create the circulating supply, is the same as Minereum

Alright, when will we get more details about the ICO? I think I speak for everyone when I say I'm very excited! Last question though, let's say I buy a genesis address for 250MNE, which gives me a supply of 25.000 ART. Let's say the price of ART rises to 0.1$. Can I then sell my genesis address for 2.500$, or will I only be able to sell my address for the amount of coins that have already been mined?

You will be able to transact:

1. Your available balance, which is defined by the self mining process (similar to minereum) - This is the normal generated coins that you will be able to sell on exchanges and/or transact as you wish.

2. Transact the Genesis Address directly - This is the new feature of Artemine that will allow Genesis Holders to set an ETH price on their addresses, if a price is set anyone will be able to acquire your Genesis Address for the defined amount, the buyer will automatically get the Genesis Address and the seller will automatically get the ETH in return - No need for any middle entity to do this transaction.

I want to get a Genesis Adress that I need to do for this if it is possible in more detail thanks

[minereum_investor1]

Hello MNE community, I am considering a large investment in Minereum and Artemine but have some questions I was hoping someone on here would be kind enough to clarify for me.

 -Why is the Minereum way of mining superior to traditional mining infrastructure that most of the crypto world relies on?  Is this algorithm that mines "on the fly" quicker or more efficient in someway?

 -Does Artemine mine the same way is Minereum?

 -What specifically am I purchasing in the Artemine ICO?  I see on previous discussions you're technically purchasing a Genesis Address.  So, if I were to purchase 100k Artemine, I'm really purchasing one Genesis Address that will generate 100k artemine tokens over 60 years, correct?

Thank you all!

1. The self mining principle is more efficient in the sense that no miners are directly required for the generation of coins. For more information on this process refer to the whitepaper and/or news articles that can be found on the initial page of this thread.

2. Yes Artemine self mines in the same principle as Minereum, in addition, Artemine will allow Public Mining.

3. When you contribute in Artemine you will be getting in return a Genesis Address that will generate the allocated amount of coins for a period of 100000000 ETH Blocks, the period in time depends on the ethereum blocks duration over time, at current avg block time of 20 seconds it will last for about 60 years.

Great, appreciate the thorough response and excited to be apart of both projects!

I will say, you're directing me to your whitepaper, which I've read multiple times, and no where does it state WHY THIS MINING PROCESS IS SO MUCH BETTER THAN THE TRADITIONAL METHOD.  It merely states how the process works, you should definitely tell prospective investors why the hell this is so much better or else there's not much incentive or interest to put money into the startup.

When talking about better/innovative mining process than the traditional POW one, consider both MNE and ART as being fully part of the Ethereum network (ERC 20 tokens) so they fully depend on miners to work well atm (even though the POW state is not so eco-friendly).

Also, I let you know the Ethereum network will switch to POS by the end of 2017 so both MNE and ART will benefit from this transition.

Awesome, thanks for helping me understand the logic, actually makes a lot of sense!!

You're welcome!

Both MNE and ART are automatically mined, that's the main innovation.

Think of the advantage to invest in a currency that claims to be automatically mined while running on an eco-friendly network 

[ICOphile]

What is everyone's speculation as to what ART might actually be priced at per coin after hitting exchanges?

[DiamondsAndCoins]

There are very few orders in the ques on the bid or ask.

If there are any buys what so ever that come in this thing is going to rocket launch.  You see it's just bouncing between high 3's and mid 4's with one swoop.  This is going to be epic if buyers come in.

The real question is where do you want to end up when its all said and done.  MNE, Artebyte, BTC, USD (NOT).

[MrPuffnStuff]

What is everyone's speculation as to what ART might actually be priced at per coin after hitting exchanges?

With such little information, any predictions are relatively useless.  That being said I LOVE predicting coin prices.  We will start with a very low supply, the interest in the project is relatively low and will gain traction end of 2017, after hitting exchanges I will guess the price at 5$ and rise to 30$ by January 2018.

Again, the most useless prediction ever...I plan on holding MNE and ART for years...

[ICOphile]

What is everyone's speculation as to what ART might actually be priced at per coin after hitting exchanges?

With such little information, any predictions are relatively useless.  That being said I LOVE predicting coin prices.  We will start with a very low supply, the interest in the project is relatively low and will gain traction end of 2017, after hitting exchanges I will guess the price at 5$ and rise to 30$ by January 2018.

Again, the most useless prediction ever...I plan on holding MNE and ART for years...

Thanks MrPuffnStuff. I love predicting too. I'm just deliberating how much of my MNE stockpile to dedicate to ART and how much MNE to hold on to vs. sell off once the price peaks pre and during ART ICO...

[minereum]

Hi Everyone,

Here is the version 0.2 of the Artemine Whitepaper: http://artemine.org/ArtemineWhitepaperDraft0.2.pdf

Few updates were done:

- The Artemine token symbol was changed from ART to ARTE, this is to avoid conflicts with other previous existing projects

- More details on the Genesis Addresses Properties (Transfer, Mining Process, etc.)

- More details on how the Circulating Supply is calculated

- More details on how the Public Mining function works

[Filmmmakerr]

Whats the best place to keep minereum tokens at the moment? Ive got mine on an exchange.

[MiBambino]

Whats the best place to keep minereum tokens at the moment? Ive got mine on an exchange.

Myetherwallet

[Filmmmakerr]

Whats the best place to keep minereum tokens at the moment? Ive got mine on an exchange.

Myetherwallet

Duh, thanks.

[tusandii]

Hi Everyone,

Here is the version 0.2 of the Artemine Whitepaper: http://artemine.org/ArtemineWhitepaperDraft0.2.pdf

Few updates were done:

- The Artemine token symbol was changed from ART to ARTE, this is to avoid conflicts with other previous existing projects

- More details on the Genesis Addresses Properties (Transfer, Mining Process, etc.)

- More details on how the Circulating Supply is calculated

- More details on how the Public Mining function works

Thanks for the update Dev, and this message has been pinned on telegram too, yeaah  

[MiBambino]

Will the ICO be capped off when a certain amount has been raised, like let's say 5.000 ETH? (That's pretty much half of the entire cap of Minereum)

[org0x004]

Is the "Public Mining Experiment" still working? In another post someone claim that there is a bot and you cannot be faster. I send some funds to participate but it seems that it didn't work...

[sserugh]

Hi Everyone,

Here is the version 0.2 of the Artemine Whitepaper: http://artemine.org/ArtemineWhitepaperDraft0.2.pdf

Few updates were done:

- The Artemine token symbol was changed from ART to ARTE, this is to avoid conflicts with other previous existing projects

- More details on the Genesis Addresses Properties (Transfer, Mining Process, etc.)

- More details on how the Circulating Supply is calculated

- More details on how the Public Mining function works

So read trough this, and I think one of the more important questions is If the public mining can be done more then 1 time per block? I assume it can?

[12inchMom]

I anticipate this ICO been really successful.

[novodinheiro.com]

This currency has a lot of potential

[minereum_investor1]

Please Dev, I took a closer look at the new whitepaper.

It is written about the ICO Factory that it will be an update of the current Token Creation Service related to Minereum.

Does that mean one part of the Artemine project will consist in improving/updating some other parts of MNE?

If valid, why did you include the ICO Factory into the Artemine whitepaper as you already stated both AMNE & MNE will go on separately?

Thank you Dev.

[minime0105]

Hello m8es!

Can anyone please explain me in a few simple words - what are the main points of this coin and Technology itself? Ive read WP and all the stuff, but nowdays lots of beautiful words appear with no sence inside.

What is the usability of this coin and how it will be able co compete with hundreds of others?

The main thing or the selling point of this coin is the slef mining itself, it doesnt need to have expensive GPUs. neither need electricty, it is mining as per ethereum blockchain, thus like investing in a company in the real world waiting for the appreciation value, and in this case once the demand has grwon very large enough, since the distribution is controlled and the supply is always kept at minimum and will be max only after such years, there will be no dumping happening and liquidating of assets is controlled and as for me thats a good one.

[Voltaje]

Hi Everyone,

Here is the version 0.2 of the Artemine Whitepaper: http://artemine.org/ArtemineWhitepaperDraft0.2.pdf

Few updates were done:

- The Artemine token symbol was changed from ART to ARTE, this is to avoid conflicts with other previous existing projects

- More details on the Genesis Addresses Properties (Transfer, Mining Process, etc.)

- More details on how the Circulating Supply is calculated

- More details on how the Public Mining function works

Dev, will I be able to send from my Genesis address and make that address an ARTE genesis address too? or I have to necessarily use a different address? thanks in advance:D., the project is getting good, and i hope ARTE will have their own projects it is based upon .

[sserugh]

So, now I have really thought about what you write in the white paper, and made some math you can think about.

Lets assume that ETH value is 400 dollars. And the Gas about 50 000. The lowest gwei you can use, is like 0,5 now. That would mean that the cost is 0.000025 ETH, or 0,01 dollars, to get about 0,00032 ARTE. So to get the value for 1 ARTE, 1/0,00032 *0,01= 31,25 dollars per coin.
So, there will surely be bots to call that function, and mine the coin.

So, lets assume that you pay 100 MNE, or 10 ETH, and get 10000 ARTE, during the first year you would get 0,432*365=157,68.
That would give the dollar value, 157,68*31,25=4927,5 dollar.
Assuming you bought the first day of the ICO, and payed in in ETH, you payed 4000 dollars.

The total amount of coins that can me made with public mining is 512000. This is calculated by the total amount of  times the function can be called multiplied by the average number of coins made by the function. I here divide by 2, since the average value will be half of the original number.  3200000000*0,00032/2


So, That predicted value is off based on a couple of wrong assumptions:
1: That people would mine, and then sell at the same value. That would off course be a bit stupid, so the predicted value would ofc be higher.
2: That the price would not drop under the public mining cost, it could of course do that, and make that function useless.
3: That the cost for mining 1 ARTE will me constant. It will not since you get a bit less for every time you call the function.

So my prediction is that the Value of the coin will be higher then 31,25 dollars, and it will be a fight among people to mine it until it will eventually stop, when the amount of coins*the value of the coin is less then the current cost to mine it. And every time the price get higher, the mining process will start again.

Please let me know you thoughts about my calculations, have I made this correct? What are your thoughts about it?