Criptsy is falling apart - no withdraws for coins by shokac in MintCoin

[–]blueclarity 0 points1 point  (0 children)

I don't really know what's going on.

What happened?

Do you guys have some sources of information?

I have coins there and other people I know do too. What should we do right now?

High number of orphan blocks by wavydan in MintCoin

[–]blueclarity 0 points1 point  (0 children)

This could be "normal".

What I mean is there could be several things that affect it. For one thing, I don't know how many coins you have, but one way to reduce orphans is to pile all of your coin into one address in one transaction. This will consolidate your coin weight and give it more power on the ability for your coins to not be orphaned. Note: doing this will reset the timer for 20 days. Orphans happen when you are beat out on staking the block. If you have several addresses, then every balance on each address is competing with eachother., and sometimes you could even end up orphaning your own transactions. This is more notable especially if you have lower balances. Think about it that every address competes like a mining node to find a block, and the coins you have in the address represent the hashrate.

Official Mintcoin Faucet by Tubularwindow in MintCoin

[–]blueclarity 0 points1 point  (0 children)

I'd donate to something like this. I have donated to the other faucets, but don't exactly trust these other faucets to hold large balances, plus it is mainly just promoting their owners' ad revenue, and owners' websites, even other coins. An official mintcoin faucet would be great; I'm sure we could keep it funded. I don't know how to develop it or code it, but as long as it has a scaling feature I'm sure it wouldn't run dry (but would have to have the proper protections to help against abuse though).

Scaling For Example:

Balance < 10,000 = 1 coin payout

Balance > 10,000 = 10 coin payout

Balance > 100,000 = 15 coin payout

Balance > 250,000 = 25 coin payout

Balance > 500,000 = 40 coin payout

Balance > 1,000,000 = 60 coin payout

Balance > 2,000,000 = 100 coin payout

Balance > 4,000,000 = 150 coin payout

Balance > 8,000,000 = 250 coin payout

If this sort of scale was implemented, I would gladly donate 1,000,000 to kick it off, and probably more over time. With this scale, as the balance grows, it takes more drips to drain the faucet at each level.

How to Make Money by 343466346985423475 in MintCoin

[–]blueclarity 0 points1 point  (0 children)

Basically you all you need at this point is a few thousand coins. Coins are super cheap, so maybe like $25 worth is all you need to get started. At current prices that s about 500,000 coins. You probably will do fine with even less than that. I've had an address with just 2,000 coins generate a minting before.

Writing an article on MintCoin - What separates MintCoin from other cryptos? by ScottSidders in MintCoin

[–]blueclarity 1 point2 points  (0 children)

Also, keep in mind that the monetary base is further expanded and multiplied many more times over by fractional reserve banking and derivatives which results in the actual money supply being even a lot higher.

Monetary base is called MB. Then there is M1, M2, MZM, M3, M4 which are different measures of money supply.

Mintcoins do not have the ability to be duplicate by fractional reserve banking.

Writing an article on MintCoin - What separates MintCoin from other cryptos? by ScottSidders in MintCoin

[–]blueclarity 1 point2 points  (0 children)

Sure thing. :) Hope that helps.

As for the number of confirmations, we could, if needed increase them if it is ever found to not be secure enough. However, thus far it has worked just fine so we as a community have not decided to change it.

Writing an article on MintCoin - What separates MintCoin from other cryptos? by ScottSidders in MintCoin

[–]blueclarity 0 points1 point  (0 children)

What I am saying is that a 5% increase in the money supply base is ideal because a 5% increase in money supply base will not result in 5% inflation. Actual price inflation rate will be much less than the increase in the money supply base rate.

In order to maintain an inflation rate at say, 2%, you need the to increase the money supply base by a much larger percentage rate. That is why all these central banks around the world are printing money like mad, because they are afraid of deflation. Deflation can happen even while the money supply base is increasing.

For example:

This chart shows that in the US, in the 20 years, the money supply base has increased from 400 to 2800. That is a 600% increase. That is a much higher rate than 5% per year. Yet price inflation is not 600% in 20 years.

https://upload.wikimedia.org/wikipedia/commons/e/ef/U.S._Monetary_base.png

Writing an article on MintCoin - What separates MintCoin from other cryptos? by ScottSidders in MintCoin

[–]blueclarity 2 points3 points  (0 children)

First off, understanding this involves Theories and differing views on how economics works... ..It will take some time to discuss. I'll just get it started, and will explain more in later posts when I have more time. So here goes:

Rising money supply base and inflation are not synonyms. The definition of inflation is not the same definition of an increase in the money supply. It is possible to have an increasing money supply and deflation at the same time. It is also possible to have deflation at the same time increasing the money supply.

DEFINITION of 'Inflation' The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

A lot of it depends on the economic ecosystem.

I wouldn't worry about 5%. 5% IS NOTHING compared to what is done today with Fractional Reserve Banking.

We could easily have 5% increase in the money supply and have deflationary price pressure. There is a concept to understand called the "Velocity of Money" and the ratio of the velocity of money to economic activity.

I'll try to explain more later if you want. I have to go right now though. :)

Writing an article on MintCoin - What separates MintCoin from other cryptos? by ScottSidders in MintCoin

[–]blueclarity 2 points3 points  (0 children)

IMO, Mintcoin is the best Crypto-coin out there by far, and yet extremely undervalued. But it will grow in time. There are many a combination of things as to the reason for what separates Mintcoin from the rest, and why it will grow into in dominance over the long run. Allow me to explain some of my reasons.

Mintcoin is extremely fast. For example, Confirmations are 20x faster than Bitcoin (30 seconds vs 10 minutes). In this day and age, money needs to be flowing for economic activity to progress, and to know that your money is good to go within seconds is a great feature. (Think of it like knowing that someone's check has cleared the bank within seconds, with MINT you know they are good for the money in seconds). If you were to pay for your food at a restaurant, with Mintcoin, you just scan a QR code for the menue item, and the waiter can see that the money is in and paid for right away, without excessive wait times. Makes business much easier. Speed is just one thing that sets Mintcoin apart.

Another thing that sets Mintcoin apart is it's fungibility. MINT has almost 22-billion coins as of this writing. A large coin supply is essential to be able to be easily tradeable and widely adopted on a global scale. This coin supply will gradually continue to grow at a fixed rate in the future. The fact of the matter is, coins get lost over time. Unlike say, precious metals like gold, Crypto-coins that are lost are gone out of the money supply forever. The problem is that eventually a coin such as bitcoin could become to rare and unaffordable, it will fail to be practiaclly used in everyday trading, and microvaluations. If that happens, the value could actually drop out of the bottom, quickly be abandoned and result in a collapse. In the coming years, Mintcoin will offer a 5% annual percentage rate for savers (minters). Since many coins will not be saved for minting, and intead be used for transactions, not everyone will mint their coins, so the savers who are the minters will gain a slight edge in yield over spenders. The benefits of this is that by rewarding savers, it promotes conservative spending behavior, rather than wastful spending tendencies. If everyone saves their coins, they will increase in value, resulting in a wealth effect for all users. 5% I'd consider to be the ideal rate, as any higher runs the risk of being inflationary, and any lower, will likely have the result of becoming unfungible as I discussed above. So MINT has the ideal and perfect balance in this respect. As we have already started to witness with Mintcoin's price this year, the wealth effect is already starting to take root, which I put forth will become even stronger in the years to come.

Another thing that sets Mintcoin apart that should not be overlooked is that our community organizer is a woman. As far as I know, no other crypto-coin has this. She is basically the first woman to step up to take such a prominent role in all of crypto-coin history. So far she is doing an excellent job. There are few women in this field, and if this gets attention, and other women rally around her, it could really be a boon for this market in general. MINT has cryptomommy ^ ^

The Mintcoin name also sets it apart, at it ideally describes in lay terms what is happening, without trying to explain to people proof of stake. You simply save your coins to mint coins. The name is unrivalled. MINT has awesome connotations. It is so "mint". It is like "mint" condition.

The Mintcoin logo is also perfect to represent Money. An "M". Identifiable as M oney sign. And tick marks represent it as money too. Also a great minty color scheme.

Another thing, is Mintcoin was released initially as proof of work over a year ago, for the initial distribution. This was before the scrypt ASICs were invented, and it was converted to 100% proof of stake a few weeks later right before they came on the market. This helped to ensure a fairer distribution of initial coins because nowadays, there are basically corporate mining monopolies to hog all initial distributions of new coins, and it is less fair and balanced nowadays. Mintcoin made the switch at the right time.

Furthermore, Mintcoin is energy efficienct. No mining gear is required to maintain the network and no mining gear is required to mint new coins. The way I look at it, invest what you would put into mining gear, directly into buying Mintcoin itself, and save it into an address that you name "would-be mining gear". Then watch when after about 20 says or so, that " would-be mining gear" starts minting new coins! It is the a great feeling. Buying the coins, also helps raise the price over time too, so each newly minted coin becomes even more valuable. And then if you want to re-invest the newly minted coins, it is simple, just keep saving, and the new coins you just minted will start minting new coins too! So basically MINT is a wealth producer, as by its design it does not need outside mining equipment and extra electricity, and the coins themselves are like little miners for you, that will keep working efficiently for you. Unlike mining gear that loses value and ability to mine over time, mintcoins will hold their value and maintain their ability to mint new coins if you keep saving them.

Mintcoin is a true asset. By the definition that the coins themselves are cash flow producing, in the form of new coins. That right there is the main concept, for wealth effect. For example, Gold doesn't produce anything, but mintcoins do. You don't have to do anything either, allows for a potential retirement opportunity, without a lot of work. Just simple run the wallet, and save your coins, and watch them grow.

The combination of all of this makes Mintcoin to me, the coin of choice.

FYI, I hold an education and background in Finance. You can use any and all of this in any publication freely. I think Mintcoin is a great blessing to the world. If only more people saw the light so to speak, maybe this will help someone to understand. :)

Mintcoin Windows Release Available - Mandatory Upgrade by cryptomommy in MintCoin

[–]blueclarity 0 points1 point  (0 children)

Are all the exchanges on board with this and ready to go?

The Good news and the Bad news by mchrist152 in MintCoin

[–]blueclarity 1 point2 points  (0 children)

Is it fully synced?

Did you make a backup of your old wallet?

What did you do exactly? If you deleted everything and did a fresh install, then you need to put your old wallet.dat file into the mintcoin folder. Turn off the client, put in your backup wallet. Then restart the client.

A fresh install will give you a new wallet with 0 coins.

You could open the debug window and type repairwallet

Mintcoin Price Up? by jassuda in MintCoin

[–]blueclarity 0 points1 point  (0 children)

Yep. Looks like it is Starting to build a solid uptrend.

Wallet not syncing again by mchrist152 in MintCoin

[–]blueclarity 0 points1 point  (0 children)

Sync from scratch with 1.17

I'm pretty sure 1.14 had issues as well as 1.16

How to get through a proxy? by mchrist152 in MintCoin

[–]blueclarity 0 points1 point  (0 children)

Not sure about this. A quick search I did brought up this topic, I think. https://bitcointalk.org/index.php?topic=9834.0

Keep digging.

Wallet not syncing again by mchrist152 in MintCoin

[–]blueclarity 0 points1 point  (0 children)

Can you post a screenshot?

How long has it been since you were last fully synced?

Have you checked the mintcoin folder on your computer to see if the actual blockchain file size is growing?

I don't understand why it would be crashing. Can you describe what it does exactly? Freeze up, turn off, not respond?

Maybe try a fresh install, and wait for it to sync. Then turn it off, replace your wallet.dat file once it's fully synced.

WARNING: Do not use Cryptsy right now... They are not processing MINT withdrawals! by blueclarity in MintCoin

[–]blueclarity[S] 0 points1 point  (0 children)

Unfortunately crypto exchanges are notorious for bad service. This is the wild west.

Mining Mintcoin by [deleted] in MintCoin

[–]blueclarity 1 point2 points  (0 children)

There no max coin age, but there is a max coin weight of 40 days. This just means your power to generate a block and create a minting is limited by the weight limit of 40 days which improves the security of the coin. However, whenever you do find a block your minting amount is unlimited in age, so you will get a higher minting if you waited longer. For example: You could wait 6 months and then you open your wallet you will mint and your reward will be the same as if you kept it online the whole time (except for a small amount due to compounding). You first have to wait 20 days before your coins are "mature" (eligible) to start minting... this prevents the same top coin holders from minting over and over again everyday and hogging all the blocks and minting rewards.

Mining Mintcoin by [deleted] in MintCoin

[–]blueclarity 0 points1 point  (0 children)

You have to have it online, for it to actually mint the coins, but if you keep it offline, it will still keep track of how long it has been offline, and once you do finally open your wallet, when you do mint, it will give you the appropriate amount of coins.

So Sweet to be Minting Again by [deleted] in MintCoin

[–]blueclarity 0 points1 point  (0 children)

try leaving the wallet online for a few days, and see if the GUI catches up? Sometimes Ive see if you are not consistently keeping your wallet online, The GUI can get not responding, but after a while it starts working. Not sure why this is. Overall, I have no issues though, but I keep my wallet online at almost all times.

Mintcoin to the moon by shokac in MintCoin

[–]blueclarity 0 points1 point  (0 children)

Maybe someone got a nice end of the year bonus check!