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Title: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 16, 2015, 01:44:15 AM [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) BitFoundry I'm going to be 100% honest here, you can come to expect that when you get involved in our project. I have been burned many times. I have also made money but the burns hurt the most. You as a early adopter become invested in a cause. The developer leads you in any direction and you as the community watch, expect, and hope that this is all real. Unfortunately I have only adopted one project that wasn't an elaborate pump and dump. That project was Bitcoin. Every other currency ended in a blaze of fire where the developer screwed the community. As sad as that is, it happens more than you think. Our case is extreme, but certainly not unrealistic. We will be developing the currency, that will both comply with government regulations and contribute real world features with an emphasis on usability and convenience. Expect Transparency. Expect Honesty. Expect Community. That is the BitFoundry Way. New Expected Launch Day: February 22nd BITFOUNDRY INFORMATION: WEBSITE http://www.thebitfoundry.org/ (http://www.thebitfoundry.org/) BLOCK EXPLORER Built into the wallet. We will also be adding a third party site after launch. CONTACT http://www.thebitfoundry.org/#!contact/c21nl (http://www.thebitfoundry.org/#!contact/c21nl) SPECIFICATIONS AND FEATURES X13 Algorithm/POS 21 Million total coins PREMINE There is a pre-mine of 2 million coins. We are going to be up front and honest about that. With no confusion from the start. A part of this will donated to charity upon launch week. In order to create a good distribution upon launch day we are going to list coins at the value of 1000 Satoshis and with those proceeds fund the initial bump in development and donate a 250,000 coins worth of BTC to Habitat for Humanity. This will be the first charity based IPO that I have heard of. I believe strongly in supporting the community that we all live in. After all is said and done the founders will be taking away about a 3.5% pre-mine. Bounty Budget: A Million Coins. More to Come. These funds will be held in a publicly verifiable wallet. Not to be moved until a bounty has been paid. Complete transparency with this one. WALLETS Windows: Link To Be added Mac: Link to be added Linux: (in progress) SOURCE CODE: Posted on Launch Day Feb 22nd CURRENT POOLS (in progress) EXCHANGES (in progress) SOCIAL https://twitter.com/Bit_Foundry (https://twitter.com/Bit_Foundry) IRC #bitfoundry We are behind schedule. I am a human and school caught up with me. Currently the website is behind its target launch date. We will be updating this page and our website as we know more. We are also accepting resumes for developers on our website. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 16, 2015, 01:46:51 AM Reserved
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: popcorn75 on February 16, 2015, 01:49:24 AM when is launch?
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 16, 2015, 01:51:35 AM when is launch? As of now we are shooting for a Sunday Launch. February 22nd. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: safetybitcoin on February 16, 2015, 02:02:17 AM Liked seems like a good project.
I'll be watching. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 16, 2015, 02:04:24 AM Liked seems like a good project. I'll be watching. I appreciate it. We are coming into this with good hearts and good intentions. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: dogetime on February 16, 2015, 02:27:27 PM What does it do that makes it special?
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: BitCoin Operated Boy on February 16, 2015, 07:07:41 PM What does it do that makes it special? I would say unusal POS Decay model is quite special. Also the full transparency of dev and honesty are quite unique features of character in crypto community Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: dukeneptun on February 16, 2015, 07:22:49 PM I´m wathing. Premine is 10%? What for? ::)
Fair distribution is the key..... Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 16, 2015, 11:23:35 PM I´m wathing. Premine is 10%? What for? ::) Fair distribution is the key..... Yes absolutely, We will be helping the initial mining push with the X13. Exact Block information will be released on the mining phase. Should last around a week or so. As far as the 10% Pre Allocated Funds 2.5% of the allocated funds will be converted via exchange into United States Dollars and donated with proof to Habitat for Humanity.
2.5% of the Allocated funds will be use to pay for launch fees. We want to be honest. I paid for nodes, web design software, It took my countless hours to learn coding, design the graphics for the wallet, and build the website. I have been working on BitFoundry since June of 2014. This has not been an overnight project. My statement of the 3.4% above pertains to the fact that I foresee myself completing some of the bounties as time progresses. This has been the brainchild of multiple economics students, technology students, and finance students who are sick of getting burned by anonymous developers who can code, but refuse to "Brand" and give a face to the currency. We are unique because of that fact. I am more than willing to negotiate and abide by international laws to push a viable and future forward currency. In our opinion the key to the future is not anonymous technology. It is a public face to work towards the common goal of building a truly publicly acceptable currency. Regulation has to come if there is to be large scale adoption, if you can't accept that this probably isn't your cup of tea. Not to mention an economically sound Proof of Stake Decay model that is responsive to inflation and based on the economic models we have created combats the communities tendencies to trade by the minute and kill off coins by the week. We also have a wallet tech theory that is in fruition that will make public adoption way easier. (Hint* Is your cash wallet the same as your friends? I bet not, Your Forge Wallet will hopefully have that ability to be different and function as you want it, as well.) We are here to create a community who thinks like us and is willing to take the honest ride with us. As we see more support; we can put more in, and you will get more out. We as developers look to work with the community as a team. Not to mention I have the fire in my heart to change this world for the better, and I will sure try my hardest. If you have that fire and want to make a difference shoot us your resume. We may just bring you on board. Thanks, -Alec Kloss Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: safetybitcoin on February 17, 2015, 12:52:13 AM Is half stop this topic.
Dev some new information? Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 17, 2015, 02:53:34 AM Is half stop this topic. Dev some new information? I don't understand what you are saying here? Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: Nthused on February 17, 2015, 03:13:24 AM I can't wait to smith some FDRY :P
I just came up with a funny of the name, that chick is so F*$kin! Dry [FDRY] lol Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: notsofast on February 17, 2015, 03:24:59 AM Will be watching. This decay model of PoS has me interested.
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: CryptoTrout on February 17, 2015, 03:29:03 AM 10% premine, thats ballsy
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: Jookly on February 17, 2015, 08:07:27 PM Straight up, how am I supposed to invest in this when you are pre-mining to "donate to charity". It makes no sense. In your mind it is probably attractive to people and they will think that you are a good guy for wanting to help others. That is fine and being charitable is a good thing but this is such an inefficient way to be charitable it comes off as a ploy rather than an actual initiative.
Drop the premine and I will consider participating. Good luck with your project. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 17, 2015, 09:42:05 PM Straight up, how am I supposed to invest in this when you are pre-mining to "donate to charity". It makes no sense. In your mind it is probably attractive to people and they will think that you are a good guy for wanting to help others. That is fine and being charitable is a good thing but this is such an inefficient way to be charitable it comes off as a ploy rather than an actual initiative. Drop the premine and I will consider participating. Good luck with your project. We understand your position. While I know that it may be hard to get involved and I understand that, our position comes from the fundamental ecomonic theory of income distribution. Having a large amount of allocated funds that aren't going to our pocket books allows all of the users who do not mine the currency to buy into it and be able to use the innovative Proof of Stake algorithm as of day one. The timing on the introduction percentage and beginning distribution curve will work much like a difficulty rate loosely based on how many wallets will come online based on our projections. Distributing a large amount of funds via giveaways and charity IPO will give us a sound launch in terms to regulation. We side step securities trading if we distribute currency at little or no profit or retainment. Premines are crucial to a developing currency. We aim to gain trust to make users feel comforatble that this is not legitimate. Also it helps the world through Charity. Which is always a goal here. If you don't agree we are sorry but we feel that this is the best way to launch and give oppoortunity to those who don't have the knowledge or hardware to mine in the initial phases. Thanks! Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: dogetime on February 17, 2015, 10:27:40 PM What does it do that makes it special? I would say unusal POS Decay model is quite special. Also the full transparency of dev and honesty are quite unique features of character in crypto community I can't see much on this PoS decay model in this ANN or on their website other than them just mentioning it once in the title. Would anyone like to explain what this is or why it's exciting? If it's a selling point then not explaining it really isn't a good start in my opinion. Also, the kiwiirc link on the website goes to facebook by the way. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 17, 2015, 11:12:33 PM What does it do that makes it special? I would say unusal POS Decay model is quite special. Also the full transparency of dev and honesty are quite unique features of character in crypto community I can't see much on this PoS decay model in this ANN or on their website other than them just mentioning it once in the title. Would anyone like to explain what this is or why it's exciting? If it's a selling point then not explaining it really isn't a good start in my opinion. Also, the kiwiirc link on the website goes to facebook by the way. Fixed the link thanks! Also we will be releasing a press announcement on POS decay later this week. Stay Tuned. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: dogetime on February 17, 2015, 11:59:35 PM What does it do that makes it special? I would say unusal POS Decay model is quite special. Also the full transparency of dev and honesty are quite unique features of character in crypto community I can't see much on this PoS decay model in this ANN or on their website other than them just mentioning it once in the title. Would anyone like to explain what this is or why it's exciting? If it's a selling point then not explaining it really isn't a good start in my opinion. Also, the kiwiirc link on the website goes to facebook by the way. Fixed the link thanks! Also we will be releasing a press announcement on POS decay later this week. Stay Tuned. Thanks for the response, press announcement sounds like a good idea to me, will be watching. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: seasonw on February 18, 2015, 02:17:25 AM No technical info yet? Such as block reward, etc... ???
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: donnyespo on February 21, 2015, 05:45:35 AM Still shooting for a launch on sunday?
Watching this one. Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: e1ghtSpace on February 21, 2015, 06:44:37 AM By the sounds of the OP and the look of the wallet, the dev is the FindYouCoin dev.
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: Furio on February 21, 2015, 08:01:54 PM Straight up, how am I supposed to invest in this when you are pre-mining to "donate to charity". It makes no sense. In your mind it is probably attractive to people and they will think that you are a good guy for wanting to help others. That is fine and being charitable is a good thing but this is such an inefficient way to be charitable it comes off as a ploy rather than an actual initiative. Drop the premine and I will consider participating. Good luck with your project. Here the same, don't understand why it needs to be 2.000.000 (!) coins, fair distribution aaaaaaaaand it's gone.... Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on February 25, 2015, 02:01:43 PM We have ran into quite a bit of complications upon launch. One of which was a leak in the source code, from one of the early contributors and they instamined the first 9000 blocks gathering well over two million coins.
We are working on bot identifying the root cause of the leak as well as repairing the source code so that we can re launch. It's funny how even when we launch, or try to launch with wonderful ideals that someone has to come along and ruin it for us. But we will not be backing down. Stay tuned please, and keep checking the website/twitter for updates! Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: aleckloss on March 05, 2015, 11:24:27 PM Still Rebuilding the source code. Ick.
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: 123sss on March 23, 2015, 08:11:55 AM dev where news?
Title: Re: [ANN] || [FDRY] || BitFoundry -X13 Mining into Pure POS (Economic Decay Model) Post by: 123sss on April 01, 2015, 01:11:09 PM when launch?
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