Legacy medals were awarded to existing members of the forum when the merit system was implemented. They were awarded to allow members to retain the rank they had achieved as a result of their past support for the forum. Earned medals are the medals that you receive as a result of making posts that the community deems to be meritable. A merit is a reward given by another Bitcointalk user to your post if it is interesting and useful. The other user does so by using up the sMerit. For each sMerit the other user sends to you, you receive one Merit at the same time 1/2 of the amount as sMerits. Sep 06, · Merit is a new decentralized open source cryptocurrency that is build with not-technical users in mind. Anybody can manage this currency effortlessly and users can use it on day-to-day basis to buy goods and pay friends/family without any complexity.
Merit system bitcointalkBeginners guide to Merit coin (MRT) - An Invite only cryptocurrency
You need to earn invite tokens first and these tokens are limited in supply. As a result these invite tokens become valuable and people even started selling these invite tokens recently.
Due to this scarcity of invite tokens users who own them think about inviting users only who best serve the community. Now your next question is how do I obtain these invite tokens? Okay, but what good does this invite system bring to users who invite other users to the network? This is where growth mining comes in. In Bitcoin and other Proof of Work coins the miners are rewarded for securing the network.
Proof of Growth is an innovative approach that is designed to reward people for growing the network strong. Okay, so what is Proof of Growth, how does this growth mining works and on what basis does it rewards people? Growth mining is a new form of mining created by Merit team to incentivize users for building the community. Just like Proof-of-Work system; growth mining also operates based on a lottery system.
Consider Proof of Growth system as Proof of Stake. In PoS the longer you hold coins the more you have the chance to win stake reward. Growth mining is focused on stewardship and the blockchain keeps track of how effective each member has been in growing the network. This whole idea of growth rewards is to not only help build the community strong but also to retain participants on the network.
It really sounds like a good approach to build the foundation strong? Since cryptocurrencies are asset class keeping them safe is the most important thing one must consider first. But think about all those wallet keys that an user have to deal in order to protect their funds. If the keys are lost then all their funds are gone as well. So just like traditionally banking system Merit coin is working on creating blockchain based decentralized vaults Guardian protocol which will allow users to recover funds even if they lose their keys.
This whole approach offers freedom to users while maintaining high security for their account. If it is lost then there is no way you can recover your funds. Next comes MeritMoney which is another core feature of Merit coin. MeritMoney protocol enables features such as cancellable transactions and escrows on the blockchain. Using MeritMoney you can password protect your money, set an expiration date and send it to anyone you wish. This particular feature ensures safety.
You can just enter the username of the recipient, choose amount and hit send. The link will invite them to the network and once they are done with the setup your money is also send to their address. This makes the whole transaction process simpler. Now as you have a clear understanding of what this project is all about you might be interested in joining the Merit network. We have some invites tokens available and you can use the link below to join the network.
Make sure to copy this seed word and do note that if you lose them you lose access to your funds. Now you are in, but still your wallet will remain locked and it needs to be activated. To unlock your wallet you need to remain the person who invited you. Note: At times even after activation the page will alert you stating that your wallet is locked and needs to be activated. If that is the case then we suggest you to reload the page at the top right corner. Also as we said these invite tokens are limited in supply so kindly use them wisely.
Now once your wallet is activated you are good to go. There are three ways you can obtain Merit coins. You can mine them, or earn by growth mining or you can buy them from exchange.
Growth mining is not possible initially. So you can either start mining them or you can buy it from exchange. As of now you may opt to buy Merit coins from exchange.
Due to innovative invite-only approach system exchanges have to go through some extra steps in order to list Merit and as of now Merit has not been listed on any exchanges yet. Also in the near term the team have plans for expanding support with fiat currency trading pairs. So before you invest kindly do your own research, get to know the team first and get to know what plans they have for the project ahead. Moreover the community is very helpful so get your doubts cleared and additionally you can learn more information from their website.
Following are the links that should help you to get started with Merit cryptocurrency. If you found this guide helpful then kindly do share it. Lastly do remember that invite tokes are scarce so please do not waste them.
Hello, Mohammad. Your friend needs to send you an invite token in order to unlock your wallet. I used your invite link. Can you please confirm the invite so I can unlock my wallet? Thank you. Sorry to say that we do not have any more invite tokens left to unlock your wallet. Member during Merit System kick-off. There are no new Legendary nor Hero member this week: Note: -Copper Members and non-native ranks staff, etc are displayed as real regular ranks.
Quote from: tunaduong on November 01, , AM. I joined BTT for nearly 1 year but mostly do Bounty programs. I still do not understand what merit is and how to get merit to be able to get up the ranks on BTT. Is there a Pro who can guide me. Thank you!! Quote from:?? This guy's work never failed to amaze me. There is always a great dedication towards the forum and cryptocurrency.
I was staring of some data and users that kicked off from being newbie to legendary in rank. These are kind of motivation especially when one wishes to rank up or grow in bitcointalk forum. Well, whatever it will going to happen the best part is that we are enjoying the stay in the forum and earn a little bit as an incentive in learning about cryptocurrency especially bitcoin.