Minereum: Mining without Miners - A Possible Coin to Watch Out For
MINEREUM??
I know you probably are not sure what that word means yet or what it is but I did some digging and it might be a word you better ready in your crypto vocabulary because I think its going to be well looked at soon. Minereum is interesting from the info I have gathered here for my readers, so lets dive in and find out what this thing is all about.
Mining on the Ethereum Blockchain without a miner
Minereum is different compared to lot of cryptocurrencies due its unique concept. The coin can actually mine without firing up any mining gear at all...thus removing energy efficiency issues and environmental impacts off the get go. Minereum can self-mine using the Ethereum Blockchain and the smart contract functionality that is built in there.
A representative told cointelegraph.com this:
“Mineruem is the first self-mining smart contract. The mining process of Minereum is something never seen before. Instead of traditional mining, the availability of coins to each Genesis address will be calculated purely by a mathematical formula on the fly.”
At the current moment it appears that Minereum has about half a million coins in existence, and can generate about 1.36576 MNE per block (MNE being their form of currency). Now here is a kicker that I warrant that all should pay attention to, their inflation rate is a whopping 72 percent lower than Ethereum's inflation rate! This to me is huge and will generate a free for all kind of option of fairness of leveling out the playing field for every investor.
Mineruem is currently being traded on livecoin.net under the symbol MNE and as of this article posting time frame it is currently worth $10.09 and on the rise. Livecoin is the only exchange at the moment but I sense more to come unofficially, just a hunch there.
Transparency and open fairness
I wanted to pass this along because I am not a fan of ETH but I do like the concept here of a minerless mining coin, I know its unique there and it seems a bit more transparent than most ETH counterparts. My selling point lingers on two factors, first the fairness in their distribution of coins seems to even out to everyone nicely. Two, the lack of miners benefits the world environment and that is always a win for everyone!
Take a look at their WHITE PAPER here:
https://drive.google.com/file/d/0B5Cv27haTPS1ZTRvOE1uTm1XMzA/view
Here is their forum if you would like to learn more about Minereum:
https://bitcointalk.org/index.php?topic=1867535
I think nowadays altcoin mining become faded. Since mining is not a good solution for scaling up the altcoin. The altcoin is going to change from POW to POs. And there are more and more ICO with fixed amount of tokens. So the future of mining is not so optimistic...
Couldn't agree with you more. I kind of have an inside knowledge to that due to working with PIVX in their marketing for most of the year, well not lately...doing this here more full time now for myself but POS coins are the coming future. If we have a system that rewards no different than mining would and its cost effective plus energy efficient, then that will most likely take off way more than anything we seen before on basic economic principles. Followed you by the way, have a lot of plans of looking more into this coin and others with more articles, hope to hear more from you
I will probably get in on this coin it sounds really interesting
I like the looks of it, seems very point blank and with a ton of potential. Figured I would pass this along
I am so excited about the prospect of mining crypto but what has always held me back was the impact on the environment. It's a hard balance between wanting to pursue the least harmful path and of course still be profitable...
I view it like this, its rough on the enery and environmental issues right now but it does seem the blockchain technologies are all working hard on making it less and less of an impact which makes me feel better about it. I am sure in time it will be so minimal we will be amazed. Really glad to have you on board here, got you followed and look forward to more chats.
As an invite to maybe help you out more. I created a Facebook and Twitter called Steemit Blogger Central. We post peoples articles over there to help them grow and gain upvotes and followers. We also just opened up a SLACK chat for this a few days ago and people are coming in, they share their profiles, articles and I RESTEEM their posts also from there to our social pages. Great way to grow, meet more Steemit users and learn if your interested. Here is the links to our stuff if your interested. Kind of a community within the community that is growing fast:
https://sbcautoinvite.herokuapp.com/
https://www.facebook.com/steemitbc
https://twitter.com/steemitbc
I like the way that sounds, thanks! Do you work full-time in the crypto space, or what do you do? Do you mine crypto at all?
Actually I worked for PIVX, I ran their social media and promoted them in their marketing team. I moved on due to lack of budgets to full time blogger here and mine. At the moment I pretty much just mine BTC through NiceHash and convert it to Steem Power...have big plans to get up there as fast as possible with this lol. I also run Steemit Blogger Central on Facebook, Twitter, and we opened a Slack chat community for SBC. Basically I am always doing something for myself, used to work in construction but done with that noise lol
That's so cool! I love meeting people who work full time in crypto like me :) I plan to start mining soon, hopefully after doing some traveling this summer. I haven't heard much news about PIVX lately, do you still keep up with them?
Mining tends for me to be that balance steady income to help save back, use it also to buy Steem Power which I hope in the long run will boost me up here faster. PIVX is struggling due to the up and down with BTC. I am still buddies with all of them, I just couldn't work for a couple hundred a month. I literally was pushing myself with 16 hour days for 7 days a week with them so it burned me out. I think though they will take off soon, they are putting Zerocoin Protocol like privacy in their coin and once that happens they should fire off fast. I plan to kind of occasionally help them out after I get more time to do so for friendship sake but I started a thing here called Steemit Blogger Central on Facebook, Twitter, and we opened a Slack community and believe at the rate that is growing it maybe my full time gig. We resteem articles and our Slack is growing, people post their article links and everyone there is growing together like a family...helping each other get ahead with Steemit. Its kind of funny but it was a simple idea and its taking off even more than myself. I think actually my growth is oddly piggy backing that project of mine and wasn't even intentional lol..good bonus for the hours I put into that mini community within the Steemit community.
Super low circulating supply: 480,675
This could be big!
I agree, its literally screaming buy me and hold and get you some money lol. I passed by this through a few articles today and had to look deeper because they just were so focused on the mining without miners thing, I seen that inflation and low volume and price, just screams something to look at for awhile. I may go back on livecoin soon lol
So it's a faucet on the Ethereum network?
No, it uses the smart contracts factor on the network, uses some math to predispose coins to be dispersed. Faucets are more or less someone holds a balance of coins, they try to bank on ads and give you a very low cut of the profits by their BTC holdings. I am no fan of Faucets lol...if you dig into them they are literally robbing peoples time through ad watching and making a 90% profit on users most the times. This is legit, uses smart contracts and has a set unchangeable mathematical standard of what it will kick out and create. How I don't know because I am not much into the ETH network but with reading this coin is taking the development in ETH and kicking it up a notch.
Checking it out right now!
I definitely think at the least its worth looking into. I come across these things now and then and tell you this, this one hit me for some reason, saying watch it lol
I checked out the following website: https://www.minereum.com
It seems that only the Genesis Addresses (a total of 4268 address) can mine Minereum. I hope I am wrong, but it looks like if you did not get on the Genesis Address Collection list on April 14 or April 15 then you are out of luck for mining.
Do you see it differently? I would love you thoughts!
hmmmmm that is odd because in their forum I didn't catch any of that, maybe they just didn't say it or its deep in their past history. I will try to dig up more on that. Either way though with the stats involved it still looks worthy of a trading up for it deal. Lack of mining and it being the original guys with addresses does bug me though if that is the case, to me that looks like similar same story stuff I see with ICOs on the ethereum blockchain and why I don't just so fast on that band wagon
Interesting coin
I agree, looks worthy of watching at the least
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I actually mines its own currency, I am not really on the up and up with ETH and its cousins over there much, if I even dare to invest in this it might brake a cardinal rule I have for myself lol. I am here for the movement side and I forbidden myself to touch ETH personally due to the ties to JP Morgan and its hands into the Federal Reserve ...just a thing I am against for crypto but I don't shame anyone for making money off of it. From what i gather its like any ICO system, they are a startup built like all these other ICOs on the ethereum blockchain but its own entity. They do have plans for the future but I can't find any specifics...just a lot of current to be announced. My thing for checking it out is the charts and the dynamics of lower inflation rates, its creating an improvement against ETH in its lowering of that area which will create a huge scarcity unseen in the ETH army out there. So if I was to back any of the ETH ICOs I would lean more on this one due to that alone. Plus they are not planning on adding to a ton of exchanges so the buyer walls will be slim to obtain this coin if it catches on.
Gonna try to snag some on a dip!
Same idea I am having lol. Seems to have some potential...figured pass that one on in case people are looking to catch something young. Followed you, let me know how it pans out sometime
Resteemed.
Good call....lol. I think this is a very under talked about coin coming up, just happened across it via looking at charts scheming for myself lol. I figured pass this on, might benefit others to dig further into
Thanks for doing the leg work. What are your thoughts on Veritasium. Bix Weir is really touting it.
Have not even heard of it lol. Now you gave me homework for the morning. I been so out of the loop since last Feb to be honest. That is when I went full time working for PIVX and they had me so busy my day trading days got swept away for awhile to be dead honest. Good thing I learned more long term trading which saves me from watching charts and scraping change off the exchanges but on the bad, it has me probably missing out on a lot of opportunities now that I am back into trading some again. I will check into them though....tip for a tip is a welcomed thing lol
The fact that Bix Weir and Clif High are talking about it, I think there's something to it.
See I been missing the Clif High latest lately lol....love that crazy old guy, he always has that algorithm spitting out some insanely accurate stuff, so if he is saying this then I have to look more into it.
I know you're swamped with all your roles right now, so I get the fact that you're missing content. In my 29 days of steeming, I have fallen so behind on what I used to listen/read. I get it. My last two hours of the day I try to catch up.
Honestly its been like this for months, I worked like this when I was with PIVX, I ran their Facebook....ran around promoting them, handled their website emails and worked in their marketing lol. I guess I am so driven to get ahead I tend to put myself last and others first but I think that is my better quality to help others and kind of let that be my earning way in crypto. Trading is great but I am a blue collar kind of guy I guess, always about work and earning what i make. I have thought about something for the SLACK but unsure how to go about it but may contact steem soon. I was thinking of creating us a token there, a tipping coin, tying a tipbot to steem we tried but keeps failing due to the memo address stuff I think, plus we aren't real devs yet lol. But cloning a coin I can do so was thinking of a token to reward shares in the slack or even in wallet for articles but pair it with Steem so users can trade up for only steem. Unsure how to do it yet but its something I may add to the ever growing plate. I have a feeling will need a team put together with the growth happening. Its manageable now but I sense this is growing and maybe more than I expect
Your projects look to be quite popular. You getting any sleep?
I been doing way way long hours. To be honest I might be a little burned out actually come today lol....woke up with a migraine from staring at the pc screen I think too much but come tomorrow I will be right back to that work a holic aggressive nature. Mixing helping others with dreams of making it through Steemit is a serious drive lately for me, a good thing but has its tiring moments. Personally my goal is to get us a little above the water line in our financial issues at the house, once I get up just a little more I think it will be easier to find the fun again lol. Thanks for asking, I am honestly hanging in there, has boomed fast so its having overwhelming moments but a doable overwhelm so far.