[ANN] [MINT] Mintcoin (POS / 5%) [NO ICO] [Fair distro, community maintained]

[vectisitch]

how can you check if your wallet is minting?

[jany8293]

Actually there is a big guy playing with the coin, when he is done the price will fall a little. I don't suggest to buy now

if that is the case then he has been at this for the past 13 hours

I think he has.
Have you seen the market?
It went from 15->23 then 23-27 slow. Then 27-34 fast as hell, then got dumped to 25 and then up to 33 and then dump to 26. Up to 32 then down to 25 and now stabilized at 29/30.

It's true, I think

[MaxMinersNet]

We are proud to announce our new Mintcoin Pool:

0% Fee
Only 0.1 mnt withdrawal fees
Automatic Payouts every minute !
DDoS protected
Best EU/US connectivity
Stratum on Port 7890 with Variable Difficulty
Bonuses will be started as soon as first Block has been found !

Check it out now and get your Scrypt Miners in:
https://mint.maxminers.net

[ScroogeD]

New week is starting soon and it's the hottest scrypt coin since Doge. News is spreading fast right now. The best is yet to come.

[CryptoMF]

Looks like this coin is taking off. Can someone please explain what will happen when the mining drops to only 1 coin per block? I want to get into this coin but I am concerned about what will happen in 2.5 weeks. I know users can mint coins in their wallets at 20% annually but what will new people get?

new ppl get what they get, dust. Buy now!

But you need new people to drive the market. I don't quite understand. Will this become a hoarding thing? If so then no one will spend them and it is not a currency but something more like a collectable item. Just trying to understand. What will keep interest in the coin if you can't get it or spend it? Maybe I am missing something.

learn more about PoS and you will understand that the ammount of coins sitted in your wallet correespond to a mining % i dont know how much time here but you will receive coins actually not mining iin terms of hardware! just hold it in your wallet and receive coins for interest (mining,forging) like with NextCoin.

Thank you for the answer. I kind of understand that part already. Can anyone help with my other points? In particular what will keep interest in the coin if you can't get it or spend it? Maybe I am missing something.

people will be incentivized to spend the interest and not touch the principle, I don't think that is a problem.

Ok. Thanks. So they won't get interest on their interest, only on the original principle? Is that correct. And why would they be incentivized (sp?) to spend the interest? Also why even have the mining continue at 1 coin? Seems pointless when there are 100 billion floating around. Who would continue mining then?

[jomama22]

any estimation of coins per day or a mining calculator?

[coolbeans94]

LTC just got added on Mintpal and soon MINT/LTC trading pair.

[declensions]

what does this part mean:

Quote
3. what does that mean in the wallet : Minting suspended due to locked wallet?
This says you can not do mining due to wallet encrypted.
you need to unlock the wallet in order to mine (for example for PoS blocks):
mintcoin-qt -server
mintcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true

do i need to unlock wallet for it to get the 20%?
I cant figure out how to unlock it

[mgburks77]

Looks like this coin is taking off. Can someone please explain what will happen when the mining drops to only 1 coin per block? I want to get into this coin but I am concerned about what will happen in 2.5 weeks. I know users can mint coins in their wallets at 20% annually but what will new people get?

new ppl get what they get, dust. Buy now!

But you need new people to drive the market. I don't quite understand. Will this become a hoarding thing? If so then no one will spend them and it is not a currency but something more like a collectable item. Just trying to understand. What will keep interest in the coin if you can't get it or spend it? Maybe I am missing something.

learn more about PoS and you will understand that the ammount of coins sitted in your wallet correespond to a mining % i dont know how much time here but you will receive coins actually not mining iin terms of hardware! just hold it in your wallet and receive coins for interest (mining,forging) like with NextCoin.

Thank you for the answer. I kind of understand that part already. Can anyone help with my other points? In particular what will keep interest in the coin if you can't get it or spend it? Maybe I am missing something.

people will be incentivized to spend the interest and not touch the principle, I don't think that is a problem.

Ok. Thanks. So they won't get interest on their interest, only on the original principle? Is that correct. And why would they be incentivized (sp?) to spend the interest? Also why even have the mining continue at 1 coin? Seems pointless when there are 100 billion floating around. Who would continue mining then?

That doesn't make any sense. Why would you come to the conclusion that the interest will not compound from what I said?

People will spend any currency because they can buy stuff they want with it, also if they only spend their interest and not touch the principle they have a residual income that they can spend.

It's a win/win situation and I suspect you are being a fuddy duddy  

[MintPal-Jay]

LTC just got added on Mintpal and soon MINT/LTC trading pair.

It's live already First trades just took place

https://www.mintpal.com/market/MINT/LTC

[damnation]

Looks like this coin is taking off. Can someone please explain what will happen when the mining drops to only 1 coin per block? I want to get into this coin but I am concerned about what will happen in 2.5 weeks. I know users can mint coins in their wallets at 20% annually but what will new people get?

new ppl get what they get, dust. Buy now!

But you need new people to drive the market. I don't quite understand. Will this become a hoarding thing? If so then no one will spend them and it is not a currency but something more like a collectable item. Just trying to understand. What will keep interest in the coin if you can't get it or spend it? Maybe I am missing something.

learn more about PoS and you will understand that the ammount of coins sitted in your wallet correespond to a mining % i dont know how much time here but you will receive coins actually not mining iin terms of hardware! just hold it in your wallet and receive coins for interest (mining,forging) like with NextCoin.

Thank you for the answer. I kind of understand that part already. Can anyone help with my other points? In particular what will keep interest in the coin if you can't get it or spend it? Maybe I am missing something.

people will be incentivized to spend the interest and not touch the principle, I don't think that is a problem.

Ok. Thanks. So they won't get interest on their interest, only on the original principle? Is that correct. And why would they be incentivized (sp?) to spend the interest? Also why even have the mining continue at 1 coin? Seems pointless when there are 100 billion floating around. Who would continue mining then?

No you get interest on whatever coin is being held in your wallet... so you could compound your interest over time.. or just sell of interest earned immediately..

Generally speaking with a PoS coin.. what will happen is that a majority of coins will end up going into wallet for Interest generation... as you wont need to mine and spend anymore power on getting the coin...

After we get down to 1 block rewards... the attraction will be for investors... in that they can still buy from the market to build up their stack of Mint and generate interest from that.... this system potentially reduces the amount of coins in the market.. as every potential investor is a potential saver...

we will of course see some trading with pump/dumps etc... refer to HBN if you want a clue to what a general PoS coin does in the market.the difference here is that mint becomes an almost pure PoS coin in another few days. so it will be interesting to watch how the market adjusts itself to that particular paradigm..

[Dallas5]

With PoS will you also get the transaction fees? I assume since no one will be mining, minting also confirms transactions else the coin will die.

[Nullu]

With PoS will you also get the transaction fees? I assume since no one will be mining, minting also confirms transactions else the coin will die.

Yes, I believe so.

[declensions]

do i have to unlock my wallet to get the 20% interest?  how?

[Dallas5]

With PoS will you also get the transaction fees? I assume since no one will be mining, minting also confirms transactions else the coin will die.

Yes, I believe so.

Hey Nullo, whatever happened to that null coin   Yes I know it's not yours but saw your post.

[thedude11]

what does this part mean:

3. what does that mean in the wallet : Minting suspended due to locked wallet?
This says you can not do mining due to wallet encrypted.
you need to unlock the wallet in order to mine (for example for PoS blocks):
mintcoin-qt -server
mintcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true

do i need to unlock wallet for it to get the 20%?
how do you mine with wallet?
I cant figure out how to unlock it

For everyone who hasnt read the whole OP, (also correct me if im wrong/misread) Your wallet will automatically mint at an intrest of 20% the first year of your wallet balance that is the untouched amount ~20 days needed to begin minting for that amount PoS blocks begin on March 12th (so you should probably begin holding large amounts now).

If you have encrypted you wallet your wallet will say "Minting suspended due to locked wallet" so you will need to unlock it by going to your Wallet-Help tab-select Debug Window-Console tab-then type: "walletpassphrase <pw you encrypted wallet with> <unlock_duration_in_seconds> true"   It will still say Minting is suspended, but on the bottom it will show your wallet being unlocked so I believe it is just a bug and it is minting. I believe you will need to enter this command every time you shutdown your wallet and reopen it. Anyone feel free to correct me if I got this wrong.

[declensions]

so.. i unlocked for 100 secs.. it won't let me put more than a certain #
i have to do this every single time?  that's stupid..

ps i did read the entire op, but it didn't explain where to go to unlock the wallet. thanks

btw, does anyone know how many mintcoins i should be getting per 1000 kh/s per day ?

[MaxMinersNet]

https://mint.maxminers.net


We are proud to announce our new Mintcoin Pool:

0% Fee
Only 0.1 mnt withdrawal fees
Automatic Payouts every minute !
DDoS protected
Best EU/US connectivity
Stratum on Port 7890 with Variable Difficulty
Bonuses will be started as soon as first Block has been found !

Check it out now and get your Scrypt Miners in:
https://mint.maxminers.net

[Scott J]

LTC just got added on Mintpal and soon MINT/LTC trading pair.

Nice, will make use of this

[bato323]

so.. i unlocked for 100 secs.. it won't let me put more than a certain #
i have to do this every single time?  that's stupid..

ps i did read the entire op, but it didn't explain where to go to unlock the wallet. thanks

btw, does anyone know how many mintcoins i should be getting per 1000 kh/s per day ?

3. what does that mean in the wallet : Minting suspended due to locked wallet?
This says you can not do mining due to wallet encrypted.
you need to unlock the wallet in order to mine (for example for PoS blocks):
mintcoin-qt -server
mintcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true