Dear FAILers,

Just wanted to warn you about new ransomware virus called CTB-Locker! I am dealing with one infected PC for 2 days with no luck whatsoever. The virus encrypts your documents and photos and demands for ransom (usually more than $300 (some people were asked for $800+) which may be paid in bitcoin as well). Currently there is NO WORKING solution of the problem, which means that you MUST pay the ransom in order to restore your files. Many people reported that they have paid and restored their files. Removing the virus is pretty easy, but the problem with encrypted files remains. That is why be EXTREMELY cautious when you are receiving suspicious e-mails or links.

Regards,
Spartak

Dear FAILers,

After another discussion we decided to use following specifications on FAIL:

FAILCoin final* specs:

Algorithm: Scrypt + SHA 256(Hybrid PoW/PoS)
Total supply: 80,000,000 after about 101 years
Block reward: 12 FAIL
Coinbase maturity: 50 blocks
Target spacing: 60 seconds
Halving POW block: 525,600 (about 365 days)
Block reward after 1,051,200 blocks (2 years): 3 coins for about 28 years
PoS interest: 3% per year
Min stake age: 8 hours
Max stake age: none
Premine for Swap: 20M

Supply:

1 year: 26,496,416 coins in total
2 years: 29,744,624 coins in total
2-30 years: 75,219,536 coins in total
30-101 years: 80,000,000 in total (about 47,304 coins/year from PoS interest)

* We have set ETA for 4th of February. Our dev will test combination with scrypt + sha + PoS, but if he does not find a solution until 4th of February, we will use only scrypt algo. SHA and GPU miners will be able to mine FAIL on the multipool who will be launched right/or soon after the swap.

As we already said, EmpoEx agreed to host the swap for 2 weeks. This is how it will be done:

1) Rate is 1 old FAIL for 0,00025 new FAIL.
2) John sends 1,000,000,000 (1 billion) old FAIL to EmpoEx and they will send him 250,000 new FAIL after 2 weeks.
3) All people who swap their FAIL will receive new coins right/or soon after the 14th day of the swap.

Best regards,
Spartak

Dear FAILers,

I asked friend of mine to draw new logo for FAIL. Here it is:



We will use that one, because it is better than previous versions and some people already liked it.

P.S. I am talking with our dev as we speak. Soon there will be some news about the fork.

Stay FAILed!

Regards,
Spartak

I can put a FAILCoin bounty for the guy who guess the time at which KIWI will be dead.

More than 91% of the coin is holded by 2 wallets. That's pretty scary.

Few weeks ago we tweeted constantly about your exchange, but we are currently working on new FAILCoin and that is why we are not promoting it at the moment. Good luck to your exchange though. I think you deserve more attention.

Regards,
Spartak

So what is the algo? Script or scrypt? And what is it? Cryptro or crypto-currency?

I really can't understand your question. FAIL will stay FAIL, but it will be reduced (denominated).

Using Coingen to create coin as a tribute to Kim Jong-Un may bring you some troubles with north korean army.

Burning is not affecting your coins at all. You just need to swap your old FAL for new and that's it.

Look, bitch! Those posts are making you no more than Internet-Commando. You can do some research and see how transparent and honest person I am... and that I also don't care. Go f* yourself and don't try to be smartass (as I pointed before).

Hey FAILers,

I just received e-mail from our lead dev.. It seems that we will have some actions by Sunday at the most.

Regards,
Spartak

The name is unique in cryptoworld.. no matter that many people think we are joke. I don't know about features though. We will surely work on some (we will start a discussion to ask FAILers what they want to see as feature in FAIL), but it will probably take months (i.e. no ETA's). I've seen enough coins with fancy roadmaps and whitepapers, but those are pure bs to me. Imho the most important thing for one coin is to have dedicated team, strong community, constant marketing and clear vision for the future.

Cheers,
Spartak

We first decided to run the swap for 1 month, but that means:
a) people should wait 1 month to receive their new FAIL
b) 2 weeks delay of our work

We will constantly post here, on Facebook and on Twitter that FAIL is forked and people must swap their coins.

Your concerns are right, because:

- Some people may postpone the time for the swap and their coins will be useless.

Our timing is right, because:

- If someone has some FAIL coins, is involved in cryptocurrencies and didn't swap his coins for 2 weeks - it's his fault.

I believe that there are many people who either dumped their FAIL or stop following our thread, but that again is not our fault - it's their decision.

Cheers,
Spartak

Coins will be send to kjvwb2744gvfrwjvrwuvb79gbv (i.e. impossible to use address). Block explorer/s for example will still show that they are 20M in existence, but people will know that 5M of them are not usable.

With that comment you just proved that you are one of the 50,000 smartasses on this forum. Talking to me in that manner doesn't make you smarter, richer or more hard working than me. What I am, I have and I'm doing is none of your business. My advice to you is to be more kind with people and sometimes just accept that they have their own opinions.

In cryptoworld it means filthy rich to me. Trading with such amounts may provide you very good way of living. Most of the people are trying to make something with 2-3-5-10 BTC.

Oh.. you are so wrong here. Most of the scams are made by few people so believe me.. they are filthy rich (by that I mean with thousands of BTC "profit").

It seems that you don't understand me. Currently we have about 80B FAIL mined. If the swap is made at the rate 1 old FAIL for 0.00025 new, this will reduce the coin to 20M initial supply. After that old FAIL will not work so you need to swap all the coins that you have. If we assume that not all FAIL are swapped (let's us say 60B out of 80B are swapped) it will means that FAIL will be with 15M initial supply. That also means that there will be 5M new FAIL left which have to be burned (with provided proof for burning), because some people may think that we will dump them or whatever.

It means that if we premine 20M from new FAIL, but only 15M are swapped, the rest 5M will be burned (i.e. it will be impossible to be used).