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FAQ - Minting  
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shin

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FAQ - Minting
« on: January 11, 2015, 01:59:03 pm »

Frequently Asked Questions about Minting

This section is created to help people get some basic information about Minting currency units (a.k.a coins) issued within the NXT Monetary System. Please review and provide answers, or corrections thereof, in Layman's terms.

Q: What is minting?
A: It is the process of obtaining new coins by means of letting your computer do some calculations.

Q: So, I get coins while my computer does all the work?
A: Yep.

Q: Does that make me a pimp to my computer? :D
A: You can see it that way, if you like.

Q: Can I mint any coins created by the NXT Monetary System?
A: Not all coins. Only coins of type "Mintable" can be minted. It is indicated with the paper money symbol on the Currencies page. Some examples of mintable coins are ELEMS and EGOLD.

Q: Great, I want to start minting now. What do I need?
A: An account with some NXT in it and a client. Get started with NXT: http://nxt.org/get-started

Q: I don't have any NXT. Can I still mint?
A: Nope. It costs NXT to mint. Ask around for some NXT :D

Q: I noticed that my account cannot Forge because it says that my effective balance is 0 and something about 1440 block confirmations. But I do have some NXT in my account? What gives? Does it mean that I cannot mint?
A: It takes approximately a day after creating and announcing an account to get 1440 block confirmations. But worry not, you can start minting right away! :)

Q: Can I mint and forge at the same time?
A: Sure, minting and forging are completely independent. (thx, Lyaffe)

Q: Can I mint with one account and forge with another account at the same time?
A: Yes, you can. You can also forge with multiple accounts while minting with multiple account. (thx, Lyaffe)



.. this is an ongoing list of Q&A ..
« Last Edit: January 11, 2015, 04:29:48 pm by shin »
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Riker

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Re: FAQ - Minting
« Reply #1 on: January 11, 2015, 03:24:55 pm »

Q: Can I mint with one account and forge with another account at the same time?
A: Yes, you can. [APPROVAL NEEDED FOR THIS ANSWER]

Sure, minting and forging are completely independent, forging is confirming NXT blocks, minting is creating MS currency.
You can forge with multiple accounts while minting with multiple accounts, you can also mint from an account while forging at the same time.
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shin

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Re: FAQ - Minting
« Reply #2 on: January 11, 2015, 04:24:49 pm »

Thx Lyaffe :D
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PICISI

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Re: FAQ - Minting
« Reply #3 on: April 18, 2015, 01:00:11 pm »

Q: Can I mint with one account and forge with another account at the same time?
A: Yes, you can. [APPROVAL NEEDED FOR THIS ANSWER]

Sure, minting and forging are completely independent, forging is confirming NXT blocks, minting is creating MS currency.
You can forge with multiple accounts while minting with multiple accounts, you can also mint from an account while forging at the same time.

every so often when inputting my pass phrase I make an specific unknown typo that results in getting a specific account that I now refer to as my 'error' account.   Earlier when trying to play with the various nxt features I turned on forge at that account.  Then when I wanted to stop it the system told me to enter the pass phase to close it down, however I don't know the pass phrase. 

So my question is, is that account still forging in the background of my computer somewhere somehow?
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Dreyfuss

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Re: FAQ - Minting
« Reply #4 on: December 19, 2017, 07:12:35 pm »

So I've got the NXT Client, I have $1000 dollars in coins and it says I'm forging.  How do I mint?  I see the coin I want to mint in the currencies.  It says its mint-able.   I just don't know where to go in the client.
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