Search the Community

How To "Back Up & Restore" Your "wallet.dat" This guide is for newer members to the crypto community It's the easiest method of keeping a wallet backup Make sure your wallet is updated to the current block To create your 'back up' file: 1: Click 'Backup Wallet' from the 'file menu' 2: Choose a file name for the 'Backup file': (Any name is fine mncwallet.dat, mnc.dat.... etc. as long as you rename the file wallet.dat when/if you need to restore it) 3: Save the file in any file location: (for this guide i'm showing you how to save to desktop, a flashdrive or two is safer than a pc thats online) STEP: 1 STEP: 2 Step: 3 Restoring the backup file Step: 1 Step: 2 Step: 3 Step: 4 There are more advanced ways to back up your wallet like paper wallet's and importing/exporting your private keys But this is the method I've been using for a while now and has yet to fail me and even SAVED my butt!!! In a couple situations with the Bitcoin-QT where I thought all was lost!!! NOTE: You can make a backup of the wallet.dat file by copying and pasting it from it's folder location but I've read from numerous dev's that it's not 100% safe compared to saving through the wallet GUI. Keeping a backup file updated often is the only way to ensure 99.999% of it usefuleness in the rare occasion you may need it. Wallet.dat Back-up & Restore Guide

Thats right kids a new and exciting exchange has been setup to start taking USD transfers and has now added MinCoin The owner of the site even named his child ATOMIC to symbolize how focused and confident he is with his trade engine becoming one of cryptos' finest exchanges So i am Extremely proud to announce that he added MinCoin Atomic Trade Exchange has a lotto which you are entered into each time you trade. It has chat banning, tipping other users, fun games and a great crowd. Atomic Trade Exchange has what they call ATP/BTC pair and its a user mined commodity, bound to the exchange and you use it for the games and different trader account upgrades and every part of the 6k ATP you hold by mining it through trading or chatting in the chat box; you get a payout based on the amount you hold relative to the amount in circulation at that time and the payout will be 40% of the exchanges trading fees generated. How cool is that right But most importantly it is on an exchange that is dealing with USD and this is fantastic news and a Milestone for MinCoin so feel free to celebrate on this wonderful achievement >>>>CLICK HERE TO CHECK IT OUT<<<<

Hello just wanted to tell you how to mine with your wallet in a really easy way. Install the Mincoin wallet (OSX in my case), go to help menu and open debug window, open the console and type the comand setgenerate true, press intro. To check it, write the command getmininginfo and press enter, you will find dificulty, hashrate, current blocks etc. If in generate you can read true, it is done. To stop mining use setgenerate false. If you go to the debug window > information you can open the console to watch "what's happening" in real time. This method works in many wallets like fedoracoin, doge, quarks, if you have a powerfull cpu maybe you can have a try. cheers everybody P.S. I'm not an expert at all so maybe is no very profitable but is fun check it how it works

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!

MinCoin (Min is short for minimalist) has CPU/GPU based scrypt mining 1 minute blocks. Only 10 million MinCoins will be produced. Only 2880 MinCoins are mined each day for the next 10 years. A low total amount of coins and fast blocks make MinCoin an ideal candidate for a long term cryptocommodity prospect.

Only 10million MinCoin will ever be produced. Compared to ~21million with Bitcoin and 84 million with Litecoin.

For me this is pretty clear, if it acts like a commodity, and works/looks like a commodity then it IS a commodity! There you have it. MinCoin, A Crypto/Digital-Commodity......as far as I'm concerned. -the same could be said of Bitcoin, Litecoin and the rest!

10/15/2013: This thread is intended to be an introduction for anyone looking to learn more about the scrypt algorithm, which is the current "mining algorithm" in use for MinCoin. I will be adding to/coherently organizing this when I have more time, but for now it is good to start the discussion. The Scrypt Algorithm: A Primer (http://www.tarsnap.com/scrypt/scrypt.pdf) (main site) (http://www.tarsnap.com/scrypt/scrypt.pdf) (white paper) Scrypt was created by Colin Percival in May 2009 in an attempt to make a much more secure encryption mechanism than PBKDF2 and bcrypt. "Secure" is used here in the sense of being extremely expensive in both time and hardware to decrypt without the cryptographic key used to gain access to the information that has been encrypted. Q: What does this mean? It means that compared to other encryption mechanisms (say SHA256, Bitcoin's), it is many thousands of times more expensive to "attack" a person's encrypted data by trying to guess their password by trying millions of guesses. This is called brute forcing. Q: But why? The way I've read it so far, scrypt is "sequentially memory-hard" (it stores a lot of data in RAM during hashing). Specialized RAM is super expensive because engineers want to be paid a lot of money for trying to figure out how to make it store more data quickly. In fact, Percival estimates that it would take $19 billion USD in technology and electricity and one year of time to use all possible guesses on a scrypt-encrypted, 8 character password string. That's expensive compared to a password encrypted in bcrypt or PBKDF2 (millions and thousands respectively). Q: Why is scrypt so hard to attack? This question is above my head currently. You should read the white paper published freely by Percival, and you should also read D.J. Bernstein's work on salsa20, the scrambling function in scrypt. (http://cr.yp.to/salsa20.html) Q: What does this have to do with MinCoin? Roughly every minute, a block is successfully mined and reported to the MinCoin network. Transactions reported to the network are stored in blocks. To prevent people from spamming fake transactions to the network, transactions are verified with cryptographic keys, which are hard to fraudulently make unless you are the true owner. This is the cryptography part of cryptocurrencies that makes them so useful and valuable- encrypted bits of data are valuable because they are so secure and unreproducible that they simulate owning a physical object of value (USD, gold, cake, whatever). I will eventually make both a simpler and more technical discussion of the algorithm here. Please reply/pm/email me with any questions you have about this material!

What can we use it for in the economy? Considering it has fast 1min confirmations It can still be used as an online currency for buying/selling goods and services over the internet, but from the commodity stand point what could be potential uses? First things that come to my mind are: 1. A low cost way to transfer wealth from individual to individual 2. An easy/efficient way to store wealth 3. Speculation against other forms of currencies and commodities what else?