Why you should invest in Mintcoin
Much like dragonflies or Linux distributions, altcoins are living organisms. They follow a Darwinian process – it’s fascinating to watch. Some dominate the ecosystem (Bitcoin, Litecoin), some try to differentiate (Litecoin, Ripple, Namecoin, Peercoin, Nextcoin… Mintcoin), others live as parasites (pump and dump) or take advantage of exaptation (recycling an organ for another purpose) as Dogecoin did by recycling the original parody “organ” into a powerful community “organ”.
It is impossible to know with certainty which cryptos will prevail. But it does not prevent developping some tools to see more clearly and focus on cryptos which can work! Getting reliable indicators is the key.
Now on a currency that is only one month old and already impressive: Mintcoin. And why I think it’s worth it.
At the technical level.
- Fairer distribution. Mintcoin uses hybrid PoW/PoW (like Peercoin), which has several advantages:
- PoS is more environmentally friendly and less vulnerable to 51% attacks
- It does not give an awful advantage to rich people (who can afford to pay an ASIC?)
- Unlike Ripple (centralised) or Nextcoin (appointment), Mintcoin allows more people to have access to this money. And so the stakeholders are much more numerous (I do not have the figures, but I guess it is possible to find it)
- Reduced speculation. Mintcoin also reduces the incentive for speculation (day trading and arbitrage) because one must keep its currency for 20 days in the same wallet (so if you send it to an exchange, it counts as a change of wallet) to benefit from the significant interest (20% the first year)
- ASIC-resistant. Since the period of mining is reduced (5 weeks) and the halving are well on their way, the time that large owners graphic card or ASIC scrypt soon hear about Mintcoin, it will be too late.
At Community level.
- Friendly name. Mintcoin has a friendly name. It is very important for adoption. Two commenters reported that their wife liked it. Similarly, the image of mint is positive. We think of freshness and lightness. In addition, in English, “to mint” means “create money”.
- Mintpal. Precisely, if not that much a coincidence if the biggest market place Mintcoin is called … Mintpal . This is a coincidence in that there was no consultation with the dev, but not that much because with the word “to mint” (mintpal, friend of currency creators) it was predictable! In any cases, having a exchange with a similar name definitely is good for Mintcoin.
- Popular. The applause is a good indicator of interest. The first week, there was already 50 pages on the announcement topic. Now, after only 4 weeks, we are at 300 – mintcoin was announced on coinmarketcap where it peaked in #18 and it also is on cryptsy and it was even a first time coinwarz, fortunately the site has not discovered earlier. Number of pages is an important element to gauge the popularity and popularity is fundamental to a social tool as a currency (yes, a currency is a social tool, as it benefits from the network effect)
- Long term. Much of constructive commentators agrees to view Mintcoin as a long-term currency – anything but yet another pump and dump
- Very active team. An extended team is in place since February 16 (for transparency, I must tell you that I am the founder – contact me if you want to participate). Today Mintcoin enjoys a prominent site (www.mintcoin.cc), business partnerships (so you can buy ink cartridges or self catering), dice games, and other projects suc as mintstart which will be unveiled shortly and yet some other which are still confidential. The extended team is very productive and involved.
Remember, this is not the most powerful technology which end up winning; it is the most popular. VHS was worse than Betacam, HTML was lower than the competition, SDRAM was below the BEDO, Flash memory was inferior to other solid-state technologies, Google+ is just a pale imitation of Google Wave… Mintcoin is probably not the most powerful crypto in terms of functionality, but it is one that is in the forefront of the currencies in which you can win.
Be swift in investing, because this is the end of the week. Mintcoin is at 28 satoshi at time of writing but it will soon increase (we noted a mechanism of massive appreciation during the weekend and depreciation on the next Friday without going as low as the previous week, the same mechanisme as Bitcoin experienced!). And there are only 12 days before the completion of mining.
- For information: www.mintcoin.cc
- For buying : www.mintpal.com (+ useful infos on mint.dogetrader.co)
- For getting some for free:
- For discussin: www.mintcointalk.com or the bitcointalk topic
- Another article: www.followthecoin.com/mintcoin-interview/