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Mathcoin
Hello everyone, Id love to introduce you to the new cryptocurrency called Mathcoin!
About:
MathCoin is a scrypt coin based on Litecoin with a lot of tweaks. Shares will be based on proof-of-stake system and the transaction fees will go to charity.
There will be only 10.000.000 Mathcoins with no inflation. 500.000 Mathcoins will be divided between early contributors - 1 MTH = 0.0001BTC. Once these 500.000 Mathcoins find their new owners, later contributors will be refunded (Owners can ask for a refund only until then!). The rest of Mathcoins without contributors will be locked in the bank until 100% of Mathcoins are mined. The deadline is at 10th March.
Other 9.500.000 Mathcoins will be mined through a system, where all early donators get 50% mining advantage in the first month. The mining should start in a month.
Goal:
Making a new strong cryptocurrency, which is safe, fast and which helps at the same time.
Advantages:
No inflation.
Protected against 51% attack.
Encrypter Peer-to-Peer.
Its own marketplace.
Transaction time between 10-20 seconds.
Difficulty retarget - Kimoto Gravity Well.
Anonymous and secured.
Progress:
The marketplace is ready.
The website is almost ready (will be launched in the next 168 hours).
The client is about 80% done (can still change depending on community's opinion).
Early Contributors:
All donators will be anonymously listed here every 24 hours.
Send your Bitcoins here - 1H7GX9XnwnQwBDt7hhr7pA8gELzsNatQRV and either write your nick in the message or PM me your transaction ID right after you send it.
The Blockchain:
https://blockchain.info/address/1H7GX9XnwnQwBDt7hhr7pA8gELzsNatQRV
Please address every idea you have in this forum!
Almost all of the alt-coins out there are going to be a waste of time. They're being created to take advantage of people who get super excited about different things and then get pumped and dumped.
Be careful about wasting time with too many alt coins.
Be careful about downloading files, seems like there's plenty of wallet stealers around hidden as alt coin miners.
Seen some more of this recently, so wanted to highlight the point.
Here's some good info from later in the thread:
Be careful about wasting time with too many alt coins.
Be careful about downloading files, seems like there's plenty of wallet stealers around hidden as alt coin miners.
Seen some more of this recently, so wanted to highlight the point.
Here's some good info from later in the thread:
1) Don't just trust the status of a member, anyone can write 500 posts and be a hero member in a short period. This just means that he invested some time on his membership. He can always decide that a profitable scam will be a good payment for his time.
2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations.
3) Ask for his coin address and always search it on blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he is claiming.
4) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation.
5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal).
6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches.
7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of bitmit.net, or a trusted member, or you might need to send over 10 very small tranches. It can be annoying, but loosing your money will be more.
8] For big amounts always use an escrow system, unless the member has an excellent reputation.
Since this thread is a sticky, I decided to post this here. Any moderator or member feel free to move, copy or improve these rules at will.
2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations.
3) Ask for his coin address and always search it on blockchain.info or www.cryptocoinexplorer.com to verify if his address has the amounts he is claiming.
4) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation.
5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal).
6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments, because he might decide to pay you the first and second, to scam a bigger tranche. Always suspect if he doesn't accept to trade in small tranches.
7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of bitmit.net, or a trusted member, or you might need to send over 10 very small tranches. It can be annoying, but loosing your money will be more.
8] For big amounts always use an escrow system, unless the member has an excellent reputation.
Since this thread is a sticky, I decided to post this here. Any moderator or member feel free to move, copy or improve these rules at will.
This is really helpful, thanks!
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I invested in Bitcoin when it was 400$, but I'm not ready to sell yet. I believe its value will be much greater till the end of 2014. I also like other coins like PPCoin or Primecoin from Sunny King.
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