well, I still have 69k fail since last hard fork, now what am I gonna be left with after this one?
Hello,
Frankly speaking, we still don't have answer to this question. Why? There are number of reasons:
1. Personally I have about 6.7 Million coins, which represents probably over 35% of the current (real) supply (many coins were lost by other people). Our main goal is to have as much partners as possible and offer each of them a % of the coin. These coins will be provided by me alone... for free. But how many people are willing to trust me? Majority of the people would think: "These guys are in control of many coins and there's no point to invest in this one". They will probably think we will dump them at some point.
2. There are some other members who also have significant holdings of the coin, which leads to my previous concerns.
3. As I previously noted - many coins were lost (I'd say at least 4 million), which is a problem. We don't have a clue about the real supply and this is why we've decided to make another hard fork (and better - relaunch). Personally I HATE hard forks and relaunches, but we don't have a choice here. Yes, we can do yet another swap, but then again, what happens if our team still holds like 50%+ of the coin (I would assume that many people won't participate in the swap and we will lose even more coins)?
Now the issue with exchanges. If we want to be listed on Cryptopia and C-Cex (for example), then we'll have to pay some $60,000, which is a hefty sum. We're not exactly Roger Ver... Bittrex is a very long shot and I spoke to Bill several times, but thing is that now it'll be extremely difficult (if not impossible) to get there. We will do everything to prove we're serious, but sometimes this is not enough. Exchanges care about their reputation and their income comes from trades. We can't exactly promise that FAILCoin will have millions of $ in trade volume, even though we strongly believe it's possible.
We tried to work without asking for money, but I feel like we are a bit late for this now. This is why I am thinking of a new relaunch + ICO (with rules, which should make it looks like a donation) and people who currently hold coins (including our team) to be compensated at a fair price. From there on, we will use portion of the BTC we will eventually raise to buy as much coins as we can. A premine is also considered, because mine and our team's vision about working for the coin itself (i.e. not to work for BTC or whatever) still stands. And we will also want to have coins for a future partner, which means we MUST control a big portion of the coin. That premine could be in the hands of an escrow or whatever - I don't care about this.
can you also please consider implementing secure nodes just like zencash is doing? it would be an amazing addition to the network and another source of income for network admins to run the secure comms
This is one of the easiest parts. I said it number of times - Panoch can do pretty much everything and he's one of the best coders out there. All he need is some time and he can do whatever we feel is good for the coin.
Hi. I follow the story about FAIL from the very beginning (and I have it), but maybe the name itself should change or define it differently (for example F.A.I.L - Future Artificial Inteligence Level or something else), maybe the name "FAIL" is too repulsive for peoples (they may be superstitious).
Hi,
Nah, the name stays.
If you really follow FAIL, then you should know that we want to develop it as a FAILCommunity - a community with its own digital currency. FailArmy is also a "repulsive" name, but we all know how successful they are. We will try to get them as partners btw.
I'd like to hear your inputs guys.
Cheers,
Spartak
