Ninjastic
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Board Announcements (Altcoins)
Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *7 Exchanges
by
mgburks77
on 23/02/2014, 21:14:43 UTC
Quote from: CryptoMF on February 23, 2014, 09:06:51 PM
Quote from: mgburks77 on February 23, 2014, 09:00:55 PM
Quote from: CryptoMF on February 23, 2014, 08:55:41 PM
Quote from: martins on February 23, 2014, 08:50:43 PM
Quote from: CryptoMF on February 23, 2014, 08:44:08 PM
Quote from: martins on February 23, 2014, 08:36:45 PM
Quote from: CryptoMF on February 23, 2014, 08:34:29 PM
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  Cheesy