FreiCoin (FRC) discussion (was FreiCoin (FRC) for TRC, PPC, LTC or BTC)

[maaku]

What you are calling "zombie" might well just be "sleeper"... Basically allow some years for the initial distribution of coins to take place before worrying about them having value. Coins that aquire value too fast tend to not get distributed to a whole lot of people as it very fast becomes hard to get them. The coins that all the big miners think are dead are actually ones that normal folk can easily pick up instead of being crowded out by the already-rich but greedy big miners.

-MarkM-

I don't come by here very often, so I missed all the hullabaloo. Mark's pretty much dead-on. We are attempting to create a viable international currency based on new/revived economic principles. That takes a lot of time.

Most people seem to be waiting for the foundation to issue its first grants, which we've said will happen as soon as we get a grant proposal submission site up. (You can follow updates to that on our forums and #freicoin IRC channel, and we can use volunteers of all types to help get it going.) Because of that I actually think it could be a good thing that we've had this boom-bust mining cycle, due mostly to the stellar rise of bitcoin profitability and lack of a high-volume FRC exchange. Getting more of the initial distribution out before there is anyone using the currency would not help in the long term.

[meebs]

What you are calling "zombie" might well just be "sleeper"... Basically allow some years for the initial distribution of coins to take place before worrying about them having value. Coins that aquire value too fast tend to not get distributed to a whole lot of people as it very fast becomes hard to get them. The coins that all the big miners think are dead are actually ones that normal folk can easily pick up instead of being crowded out by the already-rich but greedy big miners.

-MarkM-

I don't come by here very often, so I missed all the hullabaloo. Mark's pretty much dead-on. We are attempting to create a viable international currency based on new/revived economic principles. That takes a lot of time.

Most people seem to be waiting for the foundation to issue its first grants, which we've said will happen as soon as we get a grant proposal submission site up. (You can follow updates to that on our forums and #freicoin IRC channel, and we can use volunteers of all types to help get it going.) Because of that I actually think it could be a good thing that we've had this boom-bust mining cycle, due mostly to the stellar rise of bitcoin profitability and lack of a high-volume FRC exchange. Getting more of the initial distribution out before there is anyone using the currency would not help in the long term.

If you guys can get your foundation up and running properly again before mining on the coin heats up you can kind of have a "restart" and hopefully get a somewhat better reception this time verses that nasty "scamcoin" that was thrown around.

Best of luck to you guys.

[sal002]

Freicoin is sort of heated up already - its mining profitability is greater than mining straight Bitcoin (when converted into Bitcoin itself).  See http://www.coinchoose.com

[bcdvojka]

yeah, but where can i trade them, vircurex and btc-e arent trading them

[sal002]

You can trade them here - http://exchange.zapto.org/exchange/2/6

[VforVictory]

You can also trade them at Cryptonit, as well.

[DarkHyudrA]

You can also trade them at Cryptonit, as well.

Zapto is Cryptonit, but Crytonit is the new link and SSL certificate...

[wachtwoord]

I have 12.5k FRC and am looking for 2.25 BTC for the lot.

[Impaler]

I have 12.5k FRC and am looking for 2.25 BTC for the lot.

At the present BTC value of ~100 USD, that comes out to 1.8 cents which sounds fair to me.  But with these wild BTC prices so unstable it might be better us start stating prices in USD and converting to what ever BTC is at the time.

[DarkHyudrA]

I have 12.5k FRC and am looking for 2.25 BTC for the lot.

At the present BTC value of ~100 USD, that comes out to 1.8 cents which sounds fair to me.  But with these wild BTC prices so unstable it might be better us start stating prices in USD and converting to what ever BTC is at the time.

What is pretty much impossible, since most cryptos are BTC based. (Their rates keep the same even with the crash)

[maaku]

I have 12.5k FRC and am looking for 2.25 BTC for the lot.

At the present BTC value of ~100 USD, that comes out to 1.8 cents which sounds fair to me.  But with these wild BTC prices so unstable it might be better us start stating prices in USD and converting to what ever BTC is at the time.

What is pretty much impossible, since most cryptos are BTC based. (Their rates keep the same even with the crash)

That more likely indicates how illiquid these markets are.

[Impaler]

Price still seems 'sticky' at 1.8 cents.  At current LTC price of $2.40 and LTC/BTC exchange rate of 0.0075.  The LTC/BTC rate has appreciated a bit over the last few days though with some spikes that sent it briefly up too 0.0165.

(Edit) Oh, nvm, down to 0.0045 while I was posting, well lets see what happens.

[sal002]

Not sure if it matters, but my site (http://www.coinchoose.com) has the current price for Freicoin after converting it to BTC (thru LTC).  Right now I have it at 0.000150583.  I need to add transactional costs (since it is using two exchanges), but it is available there automatically (and updates as the exchanges update).

[wachtwoord]

I have 12.5k FRC and am looking for 2.25 BTC for the lot.

At the present BTC value of ~100 USD, that comes out to 1.8 cents which sounds fair to me.  But with these wild BTC prices so unstable it might be better us start stating prices in USD and converting to what ever BTC is at the time.

I think, a leas now, the price of any crypto-currency inherently linked to the price of the most important crypto-currency: Bitcoin. Of course this may change in the future, but if Bitcoin loss half its value in the eyes of the market, it makes sense that Freicoin loses half of its value as well. Next to this, at the moment for almost every transaction the agreed upon price is inherently fiat based after which it is converted to the price in the crypto-currency used. I like that, at least for alternative cryptocurrencies, this is done the other way around. Hopefully in time more things will follow.

For anyone interested, I have come to an agreement with someone for the price I asked (I pro-rated it to account for the 77 FRC lost due to demurrage).

[akipfer]

I have 1000 FRC available in trade for TRC, BTC, LTC or BTC. Make an offer.

They are going fast! (literally)

(edit: currently awaiting restocking, if you want to sell FRC please PM me.)

In light of the lack of another FRC thread, this one can continue as a discussion vehicle.

Please try to keep on topic, avoid the same old flame wars, and wherever possible provide links and quote important information.

where u get these from?? got a link to the client / daemon? and whitepaper, pools etc?

website: http://freico.in/
Forums: www.freicoin.org
Github: https://github.com/freicoin/freicoin

The forums are a mess, I'm still trying to sort it out, here's a quick dump.

It was referenced in a "lost bitcoins" conversation recently, so I grabbed the client (released on 12-21-12) and started solo mining.

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

I'm still looking for more information such as the coin limit (if any) (21 million I think) but I know this much...

It's been in the works a while:
Original project announcement thread:
https://bitcointalk.org/index.php?topic=3816.0

Article from June
http://www.newscientist.com/blogs/onepercent/2012/06/freicoin-occupys-online-curren.html

Failed Indiegogo pitch:
http://www.indiegogo.com/freicoin

Beta started this fall, and the chain was reset on 12-21-12 for production.

It's an odd critter. It's a demurrage based currency where your coins are constantly losing 4%/year which is paid to miners as a subsidy. It's brainchild came out of the 99% movement so it's aimed at disincentivising  hoarding and lowering interest rates. I don't quite get how this could work with other currencies in existence, but the slow 4% seep rate may not matter too much in the end. It may just be like bitcoin but with skewed interest rates and less desire to hold.

how much USD is a FRC?
and a TRC? If may i ask you of course!

[ssateneth]

So since the cryptonit exchange is down, there is nowhere to exchange freicoins.

That said, I have approx 13389 freicoins. I want Bitcoin or some other coin I can readily trade on BTC-E or Vircurex into BTC.

[Impaler]

Our forums and IRC channel are for the time being the best place to go to exchange FRCs, the forums have subsection specifically for exchange
http://www.freicoin.org/exchange-f24.html

[Bicknellski]

http://www.freicoin.org/post2336.html#p2336

In an effort to help the community. I will track the trades people post on the thread there so we can have at least a manually exchange ticker available. As data comes in I will manually update it.

[420]

FEATHERCOIN! FTC

[12gaFacelift]

there : https://vircurex.com/welcome/index?alt=frc&base=btc&locale=en
and
here : https://bter.com/trade/frc_btc