alttin

I think this Community Forum Software is the sleekest, prettiest, easiest, clearest forum interface I've ever used. Am I wrong to be so impressed with it?

We have tried to give everyone who signs up here a chance to get some free mincoin, either by simply signing up or by contributing to the forum via posting.

Yeah I have a a lot of blocks on my pool slowly confirming. It is taking days to get the confirmations coming in.
 
The woes of young coins I guess but the multi pools don't help much.

Yes, I agree. I think one of the key differences between a "Currency" and a "Commodity" is how they come into existence. Printing at will, and having no end to the "supply" is very anti-commodity to me. When something has a very real limit on how much of it can be produced then I start to think of it as being more commodity like.

Welcome, actually I am here becoz of mcxnow. Would really like to know why MCXNOW started their service with embracement of MINcoin and also the cryptocommunity ads

Thank you!   I like it too (obviously), I think it is more professional looking than the SMF/Simple Machines software suite that bitcointalk uses and I already had some experience with it
being a Mod on the microcash forum.

Despite I am not much an altcoin fan, but having some other alternative can surely make the community with more choices and a free market. Just like we have different curriencies in the reality 

In this thread, I hope to lay out a concept for a way to exchange MNC for giftcards redeemable both online and at physical store locations.
 
It is my opinion that exchanging MNC to giftcards would provide the quickest, most legal way to redeem an alt-currency for something rather identical to fiat.
 
Q: Why is it the quickest?
With a little bit of automation, it is possible for a customer to send MNC- either from a client or from user to user on mcxnow- within a few minutes. Once this transaction is verified, an Amazon giftcard could be purchased in fiat by the business and emailed to the customer. The customer could then redeem that giftcard and spend it at a USD value equivalent to a person paying with a debit card.
 
This has multiple implications.
 
1) A bank account is not required on the customer's end.
No centralization, no arbitrary waiting periods and fees, no personal information, no seizing of assets.
 
2) Since giftcards are not "true fiat" (more below), the business operating this exchange should NOT be required to register with the gov't as a money exchanger.
This is because when you pay $25 for a "$25 gift card", you are paying for a "ticket" to purchase the equivalent of what the store values to be $25. You don't own $25 USD that are backed by the FDIC and a bank when you purchase a gift card. You own a piece of plastic redeemable for whatever is printed on it- it's up to the merchant to accept it or not. Since they were the ones who printed the card, it's probably in their interest to accept it!
 
As a result, this service would be of interest for anyone who is looking to go from MNC -> fiat -> physical goods, as I suspect very few of us out there are interested in holding fiat for a long period of time as a wise investment decision.
 
Q: Why not just make stores that accept MNC?
You do it, then. Until someone has the resources to match the distribution of Amazon, or Applebee's, or Newegg, this system makes the most sense in my mind. It is nice to have small shops that accept crypto, of course! But I don't see these ideas as mutually exclusive.
 
Q: How high would the premium have to be?
That is up to the business risking their fiat short-term to decide. I think while MNC's price remains unstable (0.0015-0.0029 is not stable), a reasonable premium would be 5-15%. It depends on the orderbooks, the status of whales in the market (pumping or dumping?), and the need for the business to cover expenses. There is no overhead in this business model, unless the business is doing some of this on credit. Then they would need to dump a percentage of their coins to cover expenses.
 
When MNC price is stable (whales identified, mining hashrate stable, more competition among services and exchanges), then the premium should be as close to face as possible.
 
Please reply/pm/email me if you have any questions about this content!
 

User maxalt at mcxNOW.com (linked for search engine goodness finding more MNC stuff, not because I think anyone here needs that link) runs live sports betting in chat and accepts MNC.  First "live crypto-bookie", I think he is.  I do think that's worth noting, since he's so active.
 
[edit] While we're at it, let's just build some link history here:  At some point down the road, you might be able to do all your live sports betting with crypto-currencies at altbetfair.com instead!

Well, yea.  Nothing will perform better than an ASIC...because it's application specific.  But it is entirely possible to write an algorithm that is optimized for CPU; that is, you could easily write an algorithm with which a $300 CPU would drastically out-perform a $1,000 GPU.  It depends entirely on the math behind the algorithm.  Processors all do the same things essentially, so why do CPUs and GPUs perform differently for different tasks?  It's because of their design.  CPUs are designed to perform maths, which is what allows software to run on computers.  GPUs perform maths as well, but with a focus on graphics aka vectors and rendering.
 
 
I would be interested, however, to learn more about this "proposed" algorithm.

hi
 
 
i am coming

Welcome to the club! =)
 
5 more posts I'll send you 25MNC here  http://mincoinforum.com/index.php/topic/98-members-25-posts-club-earn-25mnc-for-25-posts/page-2

Welcome To MinCoinForum.com, Home Of The #1 Crypto-Commodity !
Glad to have ya!

I believe that CPU mining still has a place especially those who are getting free electricity, also my guess as to why not use the GPU instead. Well, it may be just for the fun of it going to a local library, with a laptop that doesn't have a red/green GPU. And just mining away while one does his/her own work/reading. The fun of it generating a few decimal point coins at a pool.
 
The point is, for fun and at the same time gives a little support to the mining effort.

The route to go while mining on nvidia unfortunately is cudaminer  https://bitcointalk.org/index.php?topic=167229.0
 
If you have questions or need help,  you can pm me or start a thread.  

The point is to avoid multi-pool mining that just switch in and out creating a high difficulties for loyal miners and cutting away the profits from the loyal miners when the difficulties drops.
 
 
I am actually more supportive of CPU mining than GPU or even FPGA mining, as CPU mining would means every single person in the world will be able to mine it.
 
Not everyone has a GPU and not everyone can afford a $8K-$10K FPGA just to mine some coins for a beer gathering or for fun or support.

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.

Like all crypto coins, the real test is this: can you buy something real with mincoin? If in 12 months the answer is 'Yes', then mincoin will be a huge success! Trading a coin is one thing, but without goods/services to buy with MNC, mincoin's future is uncertain.