Re: [ANN][MINT]Mintcoin, Energy Saving Coin With a Fast Distribution *17 Exchanges

It is not as it leaves alot of people puzzled

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Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.

Its basically saying "stop mining you won't get anything anyhow, just keep x million in your wallet and never spend it.
Cryptocoins without mining are dead cryptocoins because miners provide most hashrate.
Cryptocoins that are kept are extremly deflationary, that means you won't spend your coin because if you don't you have more tomorrow. But a currency that is not spend is worthless.

Is this news to you? You knew this was a proof of stake coin, right? Of course mining will stop now, that is the whole point. No more mining, no more wasting electricity. Miners can move on to mining other coins, if they wish, while still making more mintcoins and contributing to the network through the proof of stake process. The network will be supported by minting and any miners that decide to stick around to take advantage of the extremely low difficulty.

edit: And just because there is no more mining does not mean that there will be no more spending. It does mean that there will be no more multipool dumping, though.

You didnt get the whole economy/money thing what I wrote about.
Deflationary coins are bullshit when people realize that the marked stales.

Actually, you don't know that for sure. Did you know that block rewards and mining will still be done even though there is a finite cap on the number of coins?

In other words, the fees that are spent will go back into the network and new Mints will be created to replace those old Mints. It is actually a new paradigm and gives a third dimension to the inflation/deflation argument.

This is the same concept as Bitcoin, except that Mint doesn't require massive amounts of energy in order to accomplish this goal, it is done by everyone and anyone who runs a client on their computer.

Bitcoin might be on top right now, but who knows what the long-term will bring, so don't think that you know everything about economics and money.

Cheers