Quote from: titchbwfc on September 13, 2016, 03:21:01 PM

Quote from: liveandletlive77 on September 12, 2016, 11:01:16 PM

I can sync about 20 days worth of blocks (about ~58,000 blocks) in less than a day, usually a few hours. Turn it on, leave it running overnight while you sleep, wake up to minted coins. Repeat after 20 days or so. Seems to work good for me. Sometimes I'll leave it running for many days though because minting keep coming in.

Remember, if you do the math to divide it out, for every 175,000 mintcoins you own = equivalent of minting 1 Mintcoin per hour, 24 hours a day at 5% rate. Right now the rate is 10% though so it's double. It is like mining, but it's energy efficient minting your investment doesn't break or run out of mining ability. The minting ability keeps going as long as you keep minting. Kiss

still baffles me lol do you only mint coins when the wallets open and minting.. a kind of lottery for those people online and helping the network
or can you just open up your wallet once every few days and be allocated coins your owed through having them in your wallet( kind of interest payment)

Hi titchbwfc,

It's alright, it can take time to understand, but we are here to help.

It is a little bit of both. It is sort of a hybrid between total lottery, and timing of when you know to might be able to mint.
You have to have your wallet online and synced in order to start minting but the minting cycle for MINT is 20 days, meaning if you just minted today, you will have to wait another 20 days before you can re-mint those same coins. Every 20 days, the same coins will be eligible again for minting, plus whatever coins you minted previously. The term to describe coins that are trying to mint for you are called "mature". Mature coins are coins that have not been spent from the same address on your wallet for over 20 days. Once your coins get to 20 days, when your wallet is open it will tell you in the bottom right hand side you have mature coins and they will try to get accepted on the network based upon your coin weight. Coin weight is determined by how many coins you have on an address * "coin days" which is simply how long they have been sitting in your wallet since the last minting. There is no guarantee you will be the one to stake the next block and get a minting if you wallet is open. If you want to increase your likely-hood and speed of minting, after 20 days, then stack more coins onto 1 address in your wallet. This will increase your coin weight. For example, if you have just like 100 MINT, you probably will not mint anything even after 20 days, but if you have 2 million, then you definitely will. Your quantity of coins is like buying more lottery tickets. If you buy 2 million lottery tickets your going to have a better likely-hood of winning than only 100. I know some people in the past have minted with a balance of 2000 mintcoins or less, but that tends to be not consistent.
If you think of it this way, then there is essentially a lottery drawing every 30 seconds (every block). So if you didn't win, your coins will re-try again 30 seconds later. You will have 30 seconds more time added to your coin weight multiplier, so you have even higher coin weight to try win the next block. The reason why Mintcoin has a 20 day minting cycle (waiting period), is to prevent someone with a really high coin balance from just re-staking over and over and over again and hogging all the mintings and nobody else would ever win the block lottery. Many other POS (proof of stake) coins are set up with very short minimum cycles (like 1 day or 4 hours or something, and they have longer block times, which translates to less chances to win). We consider very short minting/staking cycles to be unfair, deceptive, and a scam to those who don't understand how POS coins work. Mintcoin has 20 days * 30 second blocks, which = 57600 chances to win in every 20 day cycle. So once your coins become mature, you can leave your wallet online for the next 20 days straight, to try to win, as any winners will have to wait another 20 days before they could compete against you again.

If you stack your coins to a decently big size balance (maybe 2,000,000) and time it by watching your calendar after you minted you can turn your wallet off for a while and then turn it back on after 20 days or so when you know your cycle is coming up and will have a high likelyhood of winning a minting block. That is probably what liveandletlive77 is talking about doing. But just know it is better for the network if we always have people with their wallets connected and synced and we need people to be minting every 30 seconds to keep the network blocks going; so we need minting winners 57600 times in every 20 days just to keep the MINT network running smoothly. This is just to say, don't everybody all go and do this type of thing at once. We need committed nodes, and minters who will like to be online all the time. Also, if you leave your wallet on constantly for minting, it will mint at the soonest possible moment, and you can take advantage of compounding.

Another thing to mention is if you were to leave your wallet off for like 6 months and come back and sync it, MINT keeps track of that time and will pay you a higher reward, but you will have lost out on compounded minting from previous cycle periods. If you only mint 2 times per year, you will mint less than if you minted once per month and minted coins from each month will begin minting more coins too.

Roll Eyes

Let us know if you have anymore questions.