As a prospective Minds Token buyer, naturally I am interested in the price per token :o)
Following along, correct me if I am wrong. Is the initial pricing period over now?
What was a flat $0.25 USD cost payable in ETH now a .0005 ETH/token?
At the current market value of ETH at around $284 that translates to about $0.14/token USD or was the recent quote a typo?
Sale and Price quotes from Minds in the screenshots below.
Can someone care to explain gas price and gas for me? How does one convert Minds Tokens into ETH, if in fact that is what one can do? Gas is, by default 300000. What is that 300000 of? And what is the recommended gas price to ensure that a transaction takes place?
Does 300000 gas convert to a smaller amount of ETH? How do I calculate that? And how does that then convert to Minds Tokens?
Basically, this newbie has a LOT of questions. There are no answers in the FAQ section about these specific questions.
I have certain doubts regarding the Minds Token and probably others may have it too. So I thought I shall ask it here.
1) Can the Minds token be exchanged for Ethereum? If so, at what price per token? If not, then is it a one-way transaction?
2) Is the value of a Minds Token a constant? I see that you had placed a price of 0.005 ETH per Token. But is this constant? . If not, what are the factors that could trigger an increase in the price of a Minds token and where is the graph/rate for it?
3) Just an extension to the first one. How does Minds make money if this is a 2-way transaction?
Minds needs to move to a free market. Boosts are taking forever now because they are a fixed amount of tokens for a fixed amount of views (views that might or might not even be happening) and the centralized model of selling tokens at a fixed price are not going to work with a decentralized cryptocurrency unless you are buying them back as well.
What needs to happen is boost prices should be bid on by users, or some other way of fluctuating the price to more accurately decide the free market value of views. I suggest having a queue of boosts where price is based on usage or demand (sort of like how ethereum gas prices work according to the current network hash rate). This way minds.com is actually earning its money by providing a service rather than by hodling a huge bag of minds tokens to whale with. The current business model of selling minds tokens for 2500% of its actual trading value is really greasy if you ask me, and not sustainable.
Until you start buying back tokens you are in scam territory and I am pretty sure this site will make a lot of money over the years if someone doesn't take the quick money and disappear with it (which is what it looks like is going to happen once minds.com runs out of its own token).
So what are your plans for long term sustainability (because the way it works right now is not going to last)?
admin, why token withdrawal must pay using eth, the payment is the same as the price of the token, I see the price of the token in the forkdelta, the price is the same as the withdrawal fee ... how is this
THE PROBLEM HERE IS NOT REMINDS; they are the bloodstream of Minds. The problem is the maddening repetition of views in the Newsfeed, which is Minds' fault, not that of the reminders. By not fixing that, Minds abrogates its pledge to let us each reach all of our subscribers; few wade through that sludge.
(The problem sure is also spam, the toxins in the blood. That is a shared responsibility. Minds can't fix what we don't report.)
Guys, this censorship is simply unacceptable. Apparently a meme made about Bill in response to a group being marked with the scarlet letter somehow isn't allowed for boost? How exactly is Minds pro freespeech if we aren't even allowed to criticize the actions of minds staff? I suggest you guys have a talk with quitejane and try to stick to the initial purpose of this site rather than allow admin to censor based on cult of personality. @Jack@Ottman#censorship#minds#FreeSpeech
If I try to read blogs in the Minds native Android app, it won't actually scroll past the visibility of the initial couple of paragraphs. I have to open them in an external browser. Anyone else have this issue?
Hello. Your platform welcomes all but does not facilitate all contributors to Minds earning. This marginalizes many of us and robs us of the opportunities of the platform. What is worse is that this injustice is regionalized. I urge Minds to do that right thing and to do what is good for all. Let the Creator's Will be done.
Just looked up "What are Minds Tokens" in the help and was presented with this:
"Minds tokens are the network's crypto-token. They are built using the ERC-20 utility standard and are issued on the Ethereum blockchain. You earn Minds tokens for your contributions to the network, and can exchange them for more views on your content with Boost or to support other creators with Wire."
Just a couple of questions:
What are "crypto-token"s?
What on Earth is ERC-20?
Who is/are Ethereum?
What is "blockchain"?
Which leaves me with "What are Minds tokens"?