Marscoin's purpose is to facilitate a functional economic and research credit system for the coming Mars colony and research missions. Of which there are several! (Nasa pioneering space missions, Mars One, Arab Emirates, India, China, Canada, SpaceX, and several other corporate interests, and an asteroid mining consortium!..) For example, to allow universities to lease rovers on Mars, to reward research performed on Mars, and to allow Mars Colonists to sell/purchase/trade items on Earth.
Given that the mars society and mars one have both been donated over half a million marscoins - the best way for that donation to have any value is to actually use mars coin and build up its value. Several Mars One finalists had planned on setting up a pool on Mars!
Value? Before poloniex de-listed it (mostly due to lack of understanding - Moby understood it, but geezup doesn't seem to get the whole concept that the coin has to be as simple as possible as mining from Mars will make fancy features like messaging, cloud storage, supernets and other typical gimmicks somewhat pointless given 30 minutes+ latency) Mars coin was trading on average between 0.00000150btc and 0.00000600btc. During major Mars Exploration announcements it would often jump in price, once as high as 0.00003000btc making it worth more than dogecoin most of the time - and one of the few coins with low enough difficulty you actually paid for your electricity.
As of 31July 2016 it was holding value at around 0.00000020btc in the Cryptopia NZ exchange. Hopefully it can return to its poloniex pricing levels - in which case 20 is a bargain.
Is this coin a scam? No they are registered under corporate law in Florida as a not-for-profit. It would be a criminal code violation to do anything illegal.
A summary of their corporate record is available here:
The underpinning technology is based on litecoin, which is a proven scrypt based coin algorithm. I've spent a lot of time and resources mining and trading the marscoin I currently own - which is why I created my own pool. This coin's main appeal is those interested in space exploration.
It has also been mentioned in interviews of Mars One finalists.
Working Faucet? Links removed due to my suspicion they are fake faucets. But there are two or three last I looked. Check google for marscoin.
If you don't want to spend an entire day clicking ads on some dubious website; reply below with your marscoin address and I will send you some to play with myself.
Technical: Feel free to let me know if i have any of these wrong. Abbreviation: MRS Algorithm: SCRYPT Date Founded: 27/1//2014 Total Coins: 33 Million (this figure may be wrong some sites record 48 million by 2024) Circulating coins: approximately 5 to 16 million. Check market graph sites for a more accurate figure. Eg Coin Market Cap Confirm Per Transaction: 4 (estimated) Re-Target Time: 24 hours 39 Minutes (1 Mars day) Block Time: 2 Mars Minutes (123 seconds) Block Reward: 50 Coins Block reward halves every Mars year (668 Mars days) Diff Adjustment: DGW3 (Dark Gravity Wave) Premine: 300k donation premined for non-profit MarsOne (First Million coins were donated to Mars society (500k) and Mars one (500k)) Typical global hashrates on network: 40MH to 500MH, average around 100MH
Hmm definately something wacky here. You should see 50mars come in on your old wallet address, but I am going to have to hunt around the MPOS forums to try to work out what is the issue. looking at the status panel it shows the payout thread still running from the 21st when it did an auto payout of 50; or rather it tried to. It appears there has been some issues since 2014 in MPOS according to forums. They just never really effected us before you started having trouble.
UPDATE: Ok, one error is caused by some "smarty" permission quirk. I'll have to wait and see if it crops up or something new at next payout attempt. Odd that it is intermittent. It seems to skip every 50'th transaction on my workers, and plays up for other users entirely randomly. I wonder if it is caused by multi-payout's. Thats the only thing that might be different. (ie when it sends out my payout and another users at once resulting in both failing)