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MinCoin, The Ideal Candidate For A Long Term Crypto-Commodity Project.

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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 crypto commodity prospect.

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The 2880 coins a day is so great, at current prices it only takes 1.5 BTC a day to support it.

 

Imagine if only 10 BTC a day started being invested, the price rise would be massive.

 

That's a GREAT point pros, even at a measely 6btc/day we would easly see 0.002+ price stability!

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Yup, and if you look at the sell side on mcxNOW.com, you can see they're very small.

It would be very easy to move this market indeed, particularly at these low prices. I still think anything under 0.001 is cheap IMO.

 

These prices definitely won't last long, that we know for sure.

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But where does the value of MNC comes from? Is there a market place? What are the development plans?(will need to read up more on this) or are the price rise coming in from speculators?

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I too am wondering about a marketplace.  For all of its problems, there is a huge marketplace for Bitcoin.  Yes, it has name recognition, but it also helps that I can buy things, lots of things, with it. I'll keep reading about MNC, and hoping to see a true use for them.

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I would count on much lower prices if you're trying to buy.   ;)

 

Would? Surely you mean wouldn't right?

 

MNC should consolidate around 0.001 for now, and as we continue to get the world out it will grow.

 

0.001 is a great base in my opinion.

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The trading has been a lot more active lately, for sure.  That big push last week has seen a lot of people get nervous and dump some of what they picked up, but we've had so much new interest in MNC, that there's always a batch of hungry piranhas waiting to devour them, it seems.

 

Lookin' good!

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The trading has been a lot more active lately, for sure.  There's always a batch of hungry piranhas waiting to devour them, it seems.

 

Lookin' good!

That's all I got out of that. ^^  HeHe  ;)

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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.

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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.

 

The operative term here is "commodity" though. Your points are regarding a "currency", where you buy things with it.  I'm not saying having currency value for the coin is not desirable, but the value of a crypto-commodity may not be in how many things you can buy with it, but how much currency you can exchange it for at some point down the road.  

 

Other "true" crypto-currency projects aim to provide the near-instant transactions and other features that will be needed for a widely adopted currency.  MNC has the stats to hold out long-term and be a viable support for those other currencies. (But currency uses are sure welcomed, in the meantime!)

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The operative term here is "commodity" though. Your points are regarding a "currency", where you buy things with it.  I'm not saying having currency value for the coin is not desirable, but the value of a crypto-commodity may not be in how many things you can buy with it, but how much currency you can exchange it for at some point down the road.  

 

Other "true" crypto-currency projects aim to provide the near-instant transactions and other features that will be needed for a widely adopted currency.  MNC has the stats to hold out long-term and be a viable support for those other currencies. (But currency uses are sure welcomed, in the meantime!)

 

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.

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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.

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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.

 

This rings even more true with the strength of the network hashing power currently.  I know previously there have been times when the network was moving pretty slow because of low hash.  With the numbers strolling through now, coins move fast and it's really a great coin for a currency as well.  

 

I do /hate/ using BTC as a currency.  It's just flat slow and unwieldy.  MinCoin as a currency actually does work well as-is, I agree.

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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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