Providing offhand commentary on what's happened over the past week isn't blatant advertising. You're getting confused. Of course the coin's been deflationary over the past week. A week ago it didn't even exist. It exists now and we can agree that it has "some" value. As far as I know no orderbook (bid/ask) exchanges exist for Freicoin so we don't really know what its worth on the market. But there has been some gain far beyond the demurrage fee since December 21, when it didn't exist.


You don't see the value of Freicoin. Like it says on the site "it's not for everyone."


If you see any concrete, material misleading statements made by anyone you feel is associated with this project please point them out and I will issue a clarification. We're excited and in a celebratory mood right now. Especially maaku: the project he's been slaving over for the last year (I know I was there) is taking off, so please excuse us for any personal "irrational exuberance."

PPS is a little bit harder to setup for Freicoin because each block has a slightly different reward value. A lot of the pool operators are still working on a solution to this. As I quoted before, the easiest way to mine is with p2pool

What's coin-o-tron?

Just to give everyone and idea of where Freicoin is right now I made a graph of our hash rate. Have a great rest of the week.

Actually, Sunny, no. My graphics card only mines at 60MH/s. I have less than 30000 coins at the moment and wish I had more. Other early supporters, like Impaler and jtimon, don't have any mined coins (please correct me if this is wrong, guys). To the best of my knowledge the vast majority of the coins are in the hands of people unaffiliated with the project.  I couldn't be happier with our result.

I have no intention of profiting from the Freicoin Foundation's coins, nor the ability to. I've already trusted maaku with a US Dollar donation to his indiegogo project, and he delivered more than I ever dreamed. I'm not losing any sleep trusting him to hold the Foundation's funds and distribute them fairly. Also, Sunny, you forget that this is Bitcoin. We don't have to trust him because we can all look at the blockchain and see where the funds are going. Eventually there will be tools and websites for Freicoin to do this automatically.

We've worked very hard to attract the sustained attention of miners who were capable of understanding the long term value of Freicoin. After 5 days we already have a hash rate of 30GH/s, which you were admittedly a part of. Ask yourself, why did you rush into Freicoin? We've seen organic, exponential growth with a coin seemingly possessing the opposite values you'd assume a Bitcoin miner would believe in. There are some frustrated people here, including you, on this forum. Why are you frustrated with the Freicoin? Because you feel the Freicoin has to happen from what you have observed with Bitcoin, even though Freicoin may conflict with your personal beliefs. I don't have the luxury of putting our ideologies over what works. I love cryptocurrency and that is why I support Freicoin.

Now, the real work begins. Not attracting miners or mining the coin. The biggest task for Freicoin is to build a market in goods and services that can be exchanged for Freicoin, and we intend to bootstrap this market by providing coins to legitimate and worthy charities. Finding suitable groups is going to be the hardest work yet and we need the community's help.

Don't believe everything you hear. For the most part, unless maaku wrote it, it's probably wrong.

The first block generated 750.56846171 coins.

496.03174604 went to the foundation.

254.53671561 went to the abyss, or to maaku. Not sure on that.

   .00000001 x 6 went to addresses of various contributors to the development of Freicoin. These are meant to be like a movie credits.

I'm sorry you feel that way. Best of luck in your endeavors.

Well, its a comprehensive economy theory. You may just happen to disagree with it.   As an aside the Freicoin network now has around 5GH/s hashing power. I couldn't be happier with how people from all over the globe have pitched in to help this fledgling cryptocurrency take off.

Guys, your accounting software doesn't need moment to moment price information. Accounting exists so that you can prepare monthly statements and track your performance over time. It doesn't exist to give you second-to-second price information.

Good luck.

 

You have free, powerful double-entry accounting software, and you are disappointed you have to write XXX instead of BTC.

You must read zerohedge, or a similar gloom and doom blog? That doesn't really mean what you think it means. I participated in this bond auction, but I was buying 30 year bonds. The interest rate was 2.75%, not negative. God bless America. Thanks.

http://freico.in/about/  

With the slight fee half of the lost coins will be reintroduced in 15 years. It will take another 15 years to get to 3/4 reintroduction. Reintroduction behaves asymptotically like the Bitcoin supply curve, how it will never be quite 21 million but its always approaching it.

The lost coins will never be fully reintroduced. We don't see lost coins as a problem and Freicoin was not created to fix this problem. Please see the site for information about what Freicoin is trying to do. http://freico.in/

FREICOIN WILL NOT STEAL YOUR "LOST" BITCOINS

FIRSTLY Freicoin is not released, it will be released on 21-DEC-2012. Please click this link for real information on the coin.

Guys. Please do not believe Rudd-O's troll attempt to youtube RawDog the unreleased Freicoin software.

I cannot any longer ignore Rudd-O's attempts to tie Freicoin to stealing your lost Bitcoins.  He is even posting Reddits on this topic.

Lost coins was not even a design consideration of Freicoin.

FREICOIN WILL NOT STEAL YOUR "LOST" BITCOINS

FIRSTLY Freicoin is not released, it will be released on 21-DEC-2012. Please click this link for real information on the coin.

Guys. Please do not believe Rudd-O's troll attempt to youtube RawDog the unreleased Freicoin software.

I cannot any longer ignore Rudd-O's attempts to tie Freicoin to stealing your lost Bitcoins.  He is even posting Reddits on this topic.

Lost coins was not even a design consideration of Freicoin.

i want to go to heaven now. will you take me home with soft wings?

i want to see for myself how many angels can dance up on the head of a pin

we can quantify them in units hash-yoctometers per second

Sorry. I wasn't expecting you to take it personally.

Initially I was thinking this was a cheap lesson, but now I think 250 BTC may be a significant amount of money to you.

Clicking through your posts I see you live in Brazil. Not that it should matter, because for many people in the US this is a significant amount of money. In the US there are more opportunities and so we have less reasons to complain. I'm tired of reading this entitled whining from people who can likely replace their money.

I'm sorry for your loss and hope James does return this money.

However, with a market where transactions are irreversible more care must be taken with who we deal with. On the whole, this community needs to do a lot more blaming the victim until this sentiment sticks.

Good Luck to anyone that tries to push that through. It will be a difficult path for anyone that tries to grab the authorities attention for someone who has zero-to-negative assets to forfeit.

I think it will be difficult to get the authorities attention for a pirate figure; the bulk of his assets are in internet money.

crowdfunding what? Why would you have money in GLBSE? Every single one of its assets was some sort of ponzi scheme or fraud.

You probably deserve to lose your 250 BTC because you're dumb for even having it on the GLBSE in the first place.

I'm taking nefario's side only out of recognition that he was attempting to tackle a technical problem. His misfortune was his incompetence. He didn't realize it was completely illegal and couldn't execute GLBSE properly. He didn't keep good enough records to unwind the service when it came time.