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Posts posted by SuperTramp
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HUGE Volume Surge In MinCoin, The #1 Crypto-Commodity, at the #1 Crypto Exchange mcxnow/MNC
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Mincoin Is this week’s BULLISH cryptocurrency on mcxNOW
Posted By Crypto on Oct 12, 2013 | 0 comments
Mincoin (MNC) is this week’s bullish advice for all cryptocurrency traders on mcxNOW. After following this cryptocurrency for a few months, this could be one of the best time to buy them below 0.002 BTC per unit. Both mcxNOW and Mincoin has seen significant rise in popularity since mcxNOW launched its version 2 with mcxFEEs. Now let’s go to our analysis of Mincoin and try to calculate where Mincoin will be by the end of Friday next week.
The longterm perspective
This graph shows that Mincoin decreased a lot in the beginning of its launch, but it found its floor around 0.0003 to 0.0005 BTC per MNC, then in the recent weeks it has climbed to a floor of 0.0015. The bottom seems to have been 0.003 and it is now on an positive trend upwards. Our longterm predictions is that Mincoin will be worth about 0.005 to 0.009 within 6 months. Remember that only 2880 Mincoins are mined each day for the next 10 years which make them scarce.
Read the full news article here: cryptocoinsnews.com/mincoin-bullish-cryptocurrency-mcxnow
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I wonder how he sees MNC and MC coexisting.
I believe he sees this as MNC = Crypto-Commodity And MC = Crypto-Currency
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Campbx Users:
Dwolla deposits to CampBX will end Oct 15 and Dwolla withdrawals from CampBX will end Oct 28. Please use money orders and ACH for your trading needs on CampBX. -
Received this emal from Dwolla today:
Dear Dwolla Account Holder,
As you know, Dwolla does not sell, accept, mine, value, take possession of, or hold Bitcoin or any other virtual currency product, and none of Dwolla’s users transact business with Dwolla using Bitcoin or any other virtual currency product. However, recent interest involving virtual currency and its exchanges has created uncertainty and confusion around virtual currency, and Dwolla's relationship with a small number of its exchanges. This has forced Dwolla to reassign resources, funds, and services.
As Dwolla gears up for a new stage of growth, we recognize that we can no longer sustain this merchant base (.1 percent of Dwolla merchants) and its unique needs, and that attempting to do so jeopardizes both of our communities' starkly different, but similarly ambitious, vision for improving payments.
Effective October 28, 2013 at 4pm CT, Dwolla will be withdrawing its service offerings to virtual currency exchanges and virtual currency related services.
What does this mean?- Your account, and its functionality, will remain unaffected. However, you can deactivate your account from within your Dwolla dashboard, if you so choose.
- Dwolla aims to provide its users and the few affected merchants with the guidance necessary to ensure a smooth transition. To do that, we encourage users to over-communicate with our support team, report any suspicious activity, and revisit our terms of service to ensure uninterrupted services.
- October 10: Only existing users with a 30-day history with Dwolla will be able to send funds to merchants affected by this change.
- October 15: Affected merchants will be limited to sending money only, and will no longer be able to receive funds from customers. They will be able to issue refunds to customers at this time.
- October 28: Affected merchants’ accounts will be suspended. No further activity will be provided.
- October 29: Provided no security or fraud concerns, Dwolla will transfer any of the remaining funds inside the affected merchant's Dwolla account to its linked bank account.
Sincerely,
Dwolla Support -
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And another screen shot showing the price of the #1 Crypto-Commodity [MinCoin] hitting 0.002
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Early morning/late night price surge in MinCoin taking place on mcxnow.com/MNC the #1 MinCoin exchange.
Here is a screen shot of the action:
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I'm currently seeing spots 5 & 6 on page 1. The 5th spot is a link to the main site, and 6th is one of those blocks of links of "more results from..." That's a bunch of links right up in the first half of the page. Good stuff.
Strange. I wonder why i'm getting 1st and 2nd spot on page 1 and you are not ?
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Do a Google Search For: Crypto Commodity
Currently I am seeing MinCoinForum on the first page in the 2nd & 3rd spots.
Just wondering if others are getting the same results
Can you guys try this again I just got 1st page 1st Spot & 2nd on Google search for "Crypto Commodity"
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HAHA i found out what i did wrong so i deleted what used to be here :3 Protip use mnc.vircurpool.com :3
Glad to see you got it figured out. Sometimes you just need to post the problem so you can actually see it yourself.
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Hello everyone This thing seems to be groving pretty quickly yayyy btw im gonna try minging anyone wanna join? Msg me ;3
Welcome jacwib, glad to see you found your way over from the #mincoin IRC channel !!
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I made a similar thread to this yesterday, here's what I've found:
vipah on mcxnow runs vircurpool and the mnc blockchain explorer. If you follow that back to the first 2000 blocks or so, you'll see that the code was generating (according to the block chain explorer, which vipah has said could be broken at the moment) 1 block a second for 500 MNC, and paying it out to an "UNKNOWN" address.
Supertramp is also right in saying that it was dumped hard, have a look at the all time chart: http://www.cryptocoincharts.info/v2/pair/mnc/btc/mcxnow/alltime
so, if SandyCohen wrote the code so that he could get a big payout quickly, then it is whatever. It's clear he has already left. If there is a bug in the block chain (i've tried calling some api in the debug window and it returns errors as well, which is weird/broken), then maybe we can solve it and show that 10-20 people legitimately mined it and took their payouts.
Either way, the specs of the coin are what keep us all here- and maybe the feeling of community at mcxnow!
Don't forget, that chart you link to does not show the first full week or so of trading at mcxNOW(4-27-13 was first day) as it took a good week for cryptocoincharts to start pulling the trade data
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As we all know, Mincoin had a large block reward for the first 4,320 blocks. This has led to some calling it a pump-and-dump.
What tangible effects has the large initial reward had on Mincoin so far?
When MinCoin first started trading at mcxNOW some of those early miners dumped their coins pretty hard. I remember seeing prices/trades as low as
0.00011xx. The volatility and volume the first two weeks of trading was pretty crazy. I seriously doubt if any of those original miners have any coins
left by now with all the price swings and all the lows and highs we have seen. I'd bet the majority of the whales are holding for long term now. I know
I won't be selling at current prices: 0.0011.
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I really would like to know how many MNC are out there in the world right now, because to me it seems like we would only need to dump about 50 BTC into this market to take it to 002. If we really wanted to corner this coin, all we would need is that 50 BTC and a plurality of the network hashrate to make this coin the scarcest/fastest coin out there
Currently ~1,356,478.4 MNC. Market Cap of roughly ~190K/USD coinmarketcap
As for getting to 0.002, I think we will need more like 100btc, but 150btc would be better as just getting to that point
and not holding it for longer than a day seems pointless imo. I would rather see us move to 0.0015 over the course
of a couple of days and then build a "base/floor" at that price point than just a quick run up to 0.002 But, with the
way the whales trade at mcxNOW anything really is possible
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What do you mean? He wants to convert MNC to MC?
Not in the sense you are thinking. But more along the lines of how you can convert btc to MNC. This possibility of MC being able to sustain a crypto-commodity like MinCoin within it's "system" is still being discussed/worked on. It is not set in stone as of yet.
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If MNC goes off scrypt, the only way it will survive is if someone writes a GPU miner for it that is completely and utterly flawless.
In my opinion, I think that would be a horrible decision.
Actually, the hashing algo switch that was being discussed was that of the SolidCoin hash. Reaper already supports this algo with GPU mining.
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What happens in 10 years when the coins are distributed? Whales mine to keep the network going?
Well, with FPGA and ASIC developement it should be pretty cheap to continue mining operations. So, those who have invested in MinCoin for the long term
can easlily afford some low-cost mining equipment. Not to mention there will still be TX. fees as coins move around the network.
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I'm running a one man MNC pump concurrently with WDC's
wish me luck hombres, I'm 5.2k MNC deep
I just looked at the chart. Was that you doing all that buying??
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Those crazy dumps... I did get some cheaper on one of 'em, but I'm strapped now, so I'll have to wait.
Hash rate is up pretty good for the network (curr: 220MH) even at 3.7 diff.. all very good signs for how things are shaping up. Seem to have attracted more consistent mining.
Yes. I noticed this as well. Diff seems to be hovering around 4.0+, so we have Definitely expanded our mining community! This is a good thing imo. Now we need to grow the rest of the community as well. This new forum has been helping in that matter, but I KNOW we can do much better. Slowly but surely I believe some of the people currently involved in the numerous failing alt-coin clones will "see the light" and join forces to be a part of our ever growing and expanding MinCoin community.
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This coin will only go somewhere if we make services for it! It would be a shame for such a good coin to not have the proper projects supporting it.
I agree. With so many clone-coins coming out after MinCoin, I think we lost some potential developement talent. It seems everyone is "busy" working on
their own coin or their buddy's coin. I am all for putting out MinCoin bounties for people who want to develop services, but It gets harder and harder
as I have bought and then given away many coins for/to people who stick around for a couple/few weeks then disappear. We really need some decent
talent that wants to be part of something real that has a time persepective a bit longer than 1-2 months
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It's a shame because amazing exchanges like mcxnow eliminate the need for escrow/going first...
Yeah, I'm not really sure how this would work. I think RS wants to keep the mcxFEE shares VS. BTC for now. Maybe he will do MicroCash/mcxFEE in the future, and if possible(it has been hinted) that MicroCash can "carry" a crypto-commodity "within" it's system, then I would like to think that MinCoin would be the "go to" commodity for that purpose. So, in a round about way, we could go: MNC>MC>mcxFEE and back again without ever touching btc.
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I understand your point about 'commodity' vs 'currency'.
Alt coins are very competitive now, and I am of the opinion that a number of crypto coins will survive and prosper, and I think mincoin will be one of them!
The coins that die will be the ones that have the least number of 'exit' points, and thus, will not generate enough confidence & trust from users. Many coins will have exit points at exchanges only, and for a while that will be enough for people to have confidence and trust enough to hold them.
In the medium to longer term I think the coins that maximise exit points through eCommerce (i.e. buying things through shopping carts) will be the ones that are around in 5 years time. They will have more utility.
IMO there will be too many 'commodity coins' for all of them to survive - the ones that actively promote themselves as currencies will have the best chances.
I completely understand what you are saying in regards the the "currency" side of the equation. The reason MinCoin is being marketed/advertised as a "Crypto-Commodity" is because that is what it really is. MinCoin is an "exotic-crypto-digital-commodity", and it really is the first crypto-coin to actually be marketed for what it is. Bitcoin and the rest of the alt-coin clones are NOT crypto-currencies, it is just that the followers/supporters of those coins are failing(imo) to see what they actually have in their possession.
With that ^ being said, I FIRMLY believe that MinCoin can take market share in the crypto-currency space as well. With it's 1min confirmations it still has many of the other crypto-coins beat in terms of confirmed transaction speed. It really is a commodity that spends like a currency imo.
Richest MNC wallet?
in Mincoin Economics
Posted
The "real" MinCoin whales know that buying/accumulating and hoarding coins + taking them off the market will go a long way in helping to increase the long term price of MinCoin. Out of the weak and into the strong. Also, the short-sighted traders/investors see quick $$ on the bid so they dump quickly, but us whales know that it is better to sell 1k @ 0.01 than to sell to sell 5k @ 0.002