Manncoin

[2bees]

I presume they're sorting things out & waiting for crypto to become more usable by the general populace.

 

[Chie]

On 3/2/2021 at 10:00 AM, 2bees said:

I presume they're sorting things out & waiting for crypto to become more usable by the general populace.

 

Their Manncoin is irrelevant compared to other crypto. It’s not dependant on crypto as a whole becoming more accessible. It’s dependant on local businesses and residents adopting it as a payment method and allowing those residents to trade the coin for a pound value. Interesting though that I emailed them a few days ago enquiring about their blockchain technology, exchange plans, transparency of company owners and directors, sign up numbers, popularity and coin worth and have not received any response. And yet they emailed me back almost immediately when I had sign up questions. Il give it another couple of days due to lockdown and if still no response then I guess il move on and put it in the “usual Manx attempt at something” pile.

[2bees]

To be viable crypto in general has to be popular with “the people”.

[Chie]

Found the white paper for Manncoin

http://fintechreports.info/resourcefiles/MannCoin-Whitepaper-V2_0-23-May-2019.pdf

[AcousticallyChallenged]

5 hours ago, Chie said:

Found the white paper for Manncoin

http://fintechreports.info/resourcefiles/MannCoin-Whitepaper-V2_0-23-May-2019.pdf

This is about as clear as mud, they aren't really saying much of substance.

If we take out the 'Mann' from it, are they actually doing anything differently at all?

 

[Chie]

2 hours ago, AcousticallyChallenged said:

This is about as clear as mud, they aren't really saying much of substance.

If we take out the 'Mann' from it, are they actually doing anything differently at all?

 

I have been having a conversation with them over email asking questions.

These are the key points I took away from the email.

Founder is Martin Aram, but they are hesitant to reveal any other information on who is running the show.

There will be no kind of Manncoin exchange. You will not be able to exchange Manncoins for Fiat or vice versa as they do not feel most people would want that and will not be facilitating it. So, no logging onto a local exchange and buying coins from one another...or buying coins full stop by the sound of it.

They won't release any information on customer sign up numbers or how many businesses have shown interest in adopting it as payment.

The claim they have a use for Manncoin that will become clear once they release more information on their product.

They are very hesitant to release any more information than that.

Edited March 10, 2021 by Chie

[AcousticallyChallenged]

1 minute ago, Chie said:

I have been having a conversation with them over email asking questions.

These are the key points I took away from the email.

Founder is Martin Aram, but they are hesitant to reveal any other information on who is running the show.

There will be no kind of Manncoin exchange. You will not be able to exchange Manncoins for Fiat or vice versa as they do not feel most people would want that and will not be facilitating it. 

They won't release any information on customer sign up numbers or how many businesses have shown interest in adopting it as payment.

The claim they have a use for Manncoin that will become clear once they release more information on their product.

They are very hesitant to release any more information than that.

None of this inspires confidence.

So, their argument is that, you can't exchange fiat for it, but it should replace fiat for local stuff? That's great, until you realise that you can't pay your bills without going back to fiat. No business would accept that as payment.

I would give it a wide berth personally.

[reptar]

I know that there are always some people into creating a local 'Mann' version of things that already exist but, by it's very nature, blockchain based crypto is probably the least likely thing ever to need a special 'Mann' implementation.

[Chie]

41 minutes ago, AcousticallyChallenged said:

None of this inspires confidence.

So, their argument is that, you can't exchange fiat for it, but it should replace fiat for local stuff? That's great, until you realise that you can't pay your bills without going back to fiat. No business would accept that as payment.

I would give it a wide berth personally.

 

11 minutes ago, reptar said:

I know that there are always some people into creating a local 'Mann' version of things that already exist but, by it's very nature, blockchain based crypto is probably the least likely thing ever to need a special 'Mann' implementation.

I am not entirely sure I would call it a cryptocurrency. It doesn't really meet the criteria of what we know as crypto currency today. It is definitely not decentralised, you can't buy it, you can't sell it.

This is an excerpt from the email that states the lack of converting to and from fiat

 

Edited March 10, 2021 by Chie

[reptar]

Okay, thanks for that. None of this is clear and I just assumed it was another ****coin clone. I suspect almost everyone else assumed the same. I do wonder what the mysterious use is that they have in mind but expectations are low.

[AcousticallyChallenged]

1 hour ago, reptar said:

Okay, thanks for that. None of this is clear and I just assumed it was another ****coin clone. I suspect almost everyone else assumed the same. I do wonder what the mysterious use is that they have in mind but expectations are low.

I think that's about on the money.

Whether this killer use-case will ever materialise is yet to be seen.

[Zarley]

There's a programme on ITV at 8:30 tonight - The Martin Lewis Money Show - that claims to look at the myths and truths behind Bitcoin. 

Thought you Bitcoin types in this thread might appreciate the heads-up. 

It baffles me TBH but I'm happy to remain blissfully ignorant on this subject. 

[Max Power]

2 minutes ago, Zarley said:

There's a programme on ITV at 8:30 tonight - The Martin Lewis Money Show - that claims to look at the myths and truths behind Bitcoin. 

Thought you Bitcoin types in this thread might appreciate the heads-up. 

It baffles me TBH but I'm happy to remain blissfully ignorant on this subject. 

If I had a Bitcoin for every time someone tried to explain Bitcoins to me, I'd have a lot of Bitcoins and no idea what to do with them!

[Zarley]

Same! My son-in-law dabbles and tried one time to explain it to me; we both said neverabloodygain!!! 😂

[Aislinn]

I think one of the problems is that often when enthusiasts try and 'explain bitcoin' they focus far too much on the technical details of how blockchain works which I think is the wrong way to go about it. Most of us don't need to understand how the underlying technology works to consider its implications in the same way most of us don't understand TCP/IP or the inner workings of the internet but we can definitely appreciate its impact on the world.

My very basic understanding is that bitcoins are just codes that are limited in quantity, that you can memorise and store in your head so it becomes very hard to confiscate, and you can also send them to people through the internet without any intermediary so spending them is permissionless like cash. And because they're impossible to forge and the supply is fixed I think people are buying them recently because they're worried about all the money printing governments have been doing to support the economy through the pandemic.

 

Oh, and the system that's making it all secure consumes absolutely absurd amounts of electricity, but because it was designed in a way that it would be very hard for governments to clamp down, I think its a bit late to stop it now. Apparently getting lots of use in heavily sanctioned countries like North Korea and Iran for this very reason.