1361
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Alternate cryptocurrencies / Altcoin Discussion / Re: A foundation with 80% of the coins can never work.
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on: January 07, 2013, 01:49:06 AM
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After that? What miners will get? Will that be after halving or something? (if there is halving) When will this happen, and what guarantees me that you will not sell everything and abandon frc? Maybe even now you could "sell frc" as i see always threads popping up "wts 10k frc" etc etc..
With the current rate 7mil frc(which you own) are at about 2240.0btc (if my calculation was correct) Since you are so greedy to put a "tax" like that, what says to me that you will not start selling them and run away? Its what I contributed to be mined, thats why i ask
and i cannot forget this from maaku: Those coins were never the miner's to begin with. Why do you feel entitled to them?
The miners get the foundations funds at a rate of 5% per year. The miners will eventually have all of the foundations funds. There is no halving, the miners will always get the 5%.
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1364
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Alternate cryptocurrencies / Altcoin Discussion / Re: FreiCoin (FRC) discussion (was FreiCoin (FRC) for TRC, PPC, LTC or BTC)
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on: January 06, 2013, 07:06:54 PM
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Proposed Freicoin NotationsStandard Notation:Use the symbol ⌠ to represent Freicoin in everyday transactions. The symbol is a truncated 'long s'. It is a simple symbol to write by hand, has low ambiguity with other symbols in the alphabet, and can be used to replace the decimal mark. You can access this symbol by holding Alt and typing 244 on your numeric pad on Windows. Alt-244. Go ahead and try it.Examples: 6⌠ = "six freicoin" 6.001⌠ or 6⌠001 = "six and one thousanth freicoin" Scientific Notation:For large or small values we suggest scientific notation. For this purpose we use the German character 'Eszett,' or 'ß'. The eszett is a ligature of ⌠+s, which we intend to represent "freicoin, scientific." You can access this symbol by holding Alt and typing 225 on your numeric pad on Windows. The symbol uses following formula: xßy = x * 10 ^ y Alt-225. Go ahead and try it.Examples: 6.001ß6 = 6001000⌠ 6.001ß-5 = 0⌠00006001 or 0.00006001⌠ I'm not so sure about this idea. It may be controversial.
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1365
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Alternate cryptocurrencies / Altcoin Discussion / Re: A foundation with 80% of the coins can never work.
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on: January 06, 2013, 02:42:05 AM
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It is my opinion that those coins being circulated isn't justifiable in the first place.
"Sorry you don't like the Freicoin." I do please send me 100,000 FRC to 16LRPJraqhGHuiyScwDhogbn7yRMcqVi1j signed the above line: H9FmgZ04gW2bs37srVO1ueKIyGqEgIKVfxCYdTwNpprxtJeU7mrLEQ+uv2UC1ZJDsflpiBU2p2q/VHhlKR5gITg= "I do like the Freicoin." - ElectricMucus I'll print that out and carry it in my pocket. It will give me strength.
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1367
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Alternate cryptocurrencies / Altcoin Discussion / Re: FreiCoin (FRC) Fork WITHOUT 80% Of Coins Given To FreiCoin Foundation
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on: January 06, 2013, 02:06:53 AM
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So I take this fork / 51% takeover of FreiCoin is now dead.
Unfortunately, it never got off the ground. We're completely open to people that want to use our work to accomplish their own goals, as long as they do it competently. It was impossible for it to work how it was coded. I really hope TradeFortress is done posting about this. It's very embarrassing for him. I'm not sure if hes completely unaware of that or this is some weird troll.
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1368
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Alternate cryptocurrencies / Altcoin Discussion / Re: A foundation with 80% of the coins can never work.
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on: January 06, 2013, 01:58:53 AM
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You are trying to distract from the key points here, I already explained that the portion of wealth to be distributed by the foundation would remain relevant for a very long time. Much longer than the time attributed by the 3 year period. As a rule of thumb since 5% annual demurrage yields a 15 year half life the amount would still be roughly 40% by then. Even after 100 years that would still be roughly 0.6%.
I understand what you're saying if the Foundation was going to hold onto the coins that long, but by 15 years the coins should have hopefully circulated so much that your concern is not so big? Do you disagree?
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1369
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Alternate cryptocurrencies / Altcoin Discussion / Re: FreiCoin (FRC) Fork WITHOUT 80% Of Coins Given To FreiCoin Foundation
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on: January 06, 2013, 01:53:01 AM
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After thing about this issue a bit, the problem is the foundation ALREADY has 8 million Freicoins. We need to create a new coin, but I suggest something different.
Currently, all cryptocurrencies are based off Satoshi's bitcoin, with same or slightly modified protocols, and only some modifications (eg demurrage in Freicoin, block timings and distributions with other coins, proof of stake with PPCoin). But look at all the failed cryptocurrencies - we are essentially making a new Linux distro instead of actually making something new.
I propose making a new cryptocurrency from scratch and discussing and testing different ways to do it. Blockchain, hashcash-style mining, addresses, they're all one way to do things. There's bound to be better ways, and for a cryptocurrency to succeed we need to do it differently. Not blindly do things differently, but look at it and see which way is BETTER other than just creating a fork and modifying a bit of code from bitcoind.
I have a few ideas. For example, addresses. Instead of a clunky to remember, hard to type address, why not use something like this?
someguyswebsite.com/wallet dicegame.com/lessthan512 192.168.0.12/lanpartydonations wc6sbavw7fcotfgm.onion/order1274621 mywallet.bit/someusername
To verify those addresses, we could use a similar system to randomart. There's of course the attack where say you're on dicegame.com is compromised and the attacker changes the randomart displayed on the site for verification, but that's similar for bitcoin too. The coin obviously won't actually use http, it'll use it's own protocol, but will find addresses via DNS, tor, other darknets, etc etc.
Again, this is just one of the ideas I have about addresses. I'm sure if people think about it, experiment with some test code, we'd come across different ways, maybe better.
Another important thing is that the core development needs to be just that - core. Make the protocol extensible. Have headers, like HTTP requests. Over time, the community will enhance this currency by itself. For example, say a header called 'RETURN_ADDRESS: freewallet.org/ponies', say if you're betting on a gambling game and send an amount greater than the max bet, and you want returns in a DIFFERENT address (eg if you're withdrawing from an exchange) It's a nice thing to have, but it might not need to be in the core development. People will be able to add this feature, peers and nodes would implement and support it.
Take a look at websockets. Take a look at new IRC features and additions. If we make the protocol robust and extensible, the currency will involve by itself, and with the community and the users to make it last. There obviously would be a core set of guidelines - max cap of X coins, but if we discover a BETTER address system, maybe if someone wants to make it work with emails, they can code a module or extension, tell people and nodes to install and use it, and supported clients will use it automatically. Not supported? "Command not found. This command is part of coinemail, sudo cpm install coinemail".
Just some ideas. Can we do a system where transactions have a verifiable sending time? Use the hashcash mining system. A new "timecode" every 20 seconds (as it is not a block, it is not coupled with transactions, each timecode would just be a few bytes). Transactions would include the latest timecode as proof of when it was sent. First sent coins triumph in double spend attacks. 3 confirms in 1 minute on average. Still vulnerable to 51% attacks, but again this is just one idea.
Please stop.
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1370
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Alternate cryptocurrencies / Altcoin Discussion / Re: A foundation with 80% of the coins can never work.
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on: January 06, 2013, 01:48:58 AM
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But most likely Freicoin will not even get this far if it isn't overtaken by more sane individuals which force out the 80% tax it will die out in irrelevance like any other coin which was created with unjustified distribution of wealth.
This will happen from the demurrage. No force is required. The influence of the Foundation is designed to wane. That you cannot say for certain since we haven't had any coins with demurrage already. I for once am very interested in the concept and would like to try it out in a sane manner. But every single coin where the creators reserved a substantial part of the currency for themselves died. Uhm, the demurrage works, Electricmucus. I can say that with absolute certainty that all of my coins are slowly destroying themselves you can watch it tick down inside the client every time a block comes in. You have to look down quite a few decimal points, however.
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1371
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Alternate cryptocurrencies / Altcoin Discussion / Re: A foundation with 80% of the coins can never work.
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on: January 06, 2013, 01:41:32 AM
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But most likely Freicoin will not even get this far if it isn't overtaken by more sane individuals which force out the 80% tax it will die out in irrelevance like any other coin which was created with unjustified distribution of wealth.
This will happen from the demurrage. No force is required. The influence of the Foundation is designed to wane.
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1379
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Alternate cryptocurrencies / Altcoin Discussion / Re: FreiCoin (FRC) Fork WITHOUT 80% Of Coins Given To FreiCoin Foundation
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on: January 04, 2013, 01:03:57 PM
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can somebody build binaries for windows, please? TradeFortress is being pretty deceptive, here. This announcement is kind of a "developer troll." The changes he made here took about 5 minutes, literally. If you don't believe my claim, check the post times on the Freicoin discussion thread. He doesn't intend to keep this up to date. He doesn't intend to distribute windows binaries. None of the pools will be changing to this fork. TradeFortress is lying about what his code does. It doesn't do what he says it does. Ultimately, TradeFortress is intimidated by Freicoin's success and he's trying to dilute, confuse, and distort our message. He's not tricking us, but he is tricking you. He will fail and we're not really worried about it.I'd just like to note that nobody cares if other coins have a Foundation, because nobody expects to be using them in 5 years. Everyone who reads about Freicoin knows they'll be using it even if you don't like the entire idea.
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