Hello everyone and thank you again to Guido and the rest of the community members for all of your continued support and constructive criticism.
I wanted to give an update to many of you who have been patiently waiting for a post on the progress of our coin. For those of you who have been following us on Twitter and Facebook you can see the community continue to build and we did post an exciting event that will be announced on Aug 1st, 2017. This was further documented with our video provided on our YouTube Channel, for those of you who have not seen the video you can view it here....
https://www.youtube.com/watch?v=TPTJT8eOUpAWith respects to the Block Explorer, we have been in constant communication with the team at Block Experts
https://www.blockexperts.com/fst and their support staff sent us the following email...
"
Dear Info,
BlockExperts Support just logged a message to a ticket in which you participate.
Hi,
The fastcoin wallet is currently at block 8196663 downloading.
I can start the indexing process when the download of the blockchain is finished.
I am sorry for all the delays, i will adjust the hosting period to when the block explorer is starting to index blocks.
________________________________________
You're getting this email because you are a collaborator on ticket #578398. To participate, simply reply to this email or click here for a complete archive of the ticket thread."
So far, they have been great to work with and we appreciate the patience of all community members as we work with them to have our explorer up ASAP. It goes without saying that our Coin, FST, does indeed have the deepest block chain of any cryptocurrency, and because of this, additional time is necessary to properly ensure the Explorer is configured correctly.
With respects to my logo avatar, yes, the Golden Cheetah is slightly different than the standard FastCoin logo, LOL. Please note however this was something near and dear to me as I do prefer the classical look of the coin.
I feel that FastCoin from a foundational perspective holds similar intrinsic values to that of precious metals. Although I have a personal preference of Silver over Gold, the look and feel of this Avatar has stuck with me for some reason and for now I wish to be identified on this forum at least with its logo for now, thanks again Guido as your comment is duly noted.
You will find that many of the more established Crypto coins such as Bitcoin itself, has many different logo's and interpretations and I think that is a good thing to show the diversity of the coin, yet show support for the fundamental's that the coin represents and the underlying purpose it serves.
Switching gears for a moment, I would also like to make a few comments regarding the block rewards of FST and how it plays a role in the perceived value of our coin over time. I have noticed that a few community members had some questions about how FST block reward program works and I will do my best to help explain its basic life cycle. To help in my explanation I will use the following diagrams below which can assist in illustrating FastCoin's evolutionary block rewards life cycle and where it will be as we move forward in time...
Before diving into that analysis a couple of quick comments about the block cycle should also be explained. The having cycle of FastCoin is essentially set to infinity, meaning the coin rewards will continue to halve essentially forever, never really reaching @165,888,0000 FST coins. From a practical perspective, like Bitcoin the having cycle should work for about a hundred years into the future. A future table will be posted in the forum to better help explain this for FST, but for now you can use Bitcoin's cycle and this chart as a rough guide for FST
I have also cross referenced the diagram over-top the recorded market history of our coin, which may also help co-relate the market price action respective to our coin during its block rewards cycle. Having combined the two metrics for our coin, may give community members and potential investors a better idea of what they could expect moving forward with FST.
Before I continue however I would like to also make a quick note that in no way does this diagram guarantee the value of FST over time nor is it investment advice. If there is any investment advice I can give for any investor in this space, is to not invest more than you are willing to lose. All crypto's in this space, Bitcoin included, could all go to Zero one day. This is not something we wish but its important for investors to understand the potential risks before throwing away all caution to the wind and go full bore into crypto speculation.
Back to the diagram above, with respects to FastCoin, it had a relatively aggressive block rewards program early in its life cycle. If you look at the chart you will see based on the price action, especially during its 32 coins per blocks reward program from May 2013 - @ May 2014 it participated in two large purchasing waves. At the time, the FastCoin team was very excited about the rise of the coin, and naturally disappointed when the prices dropped. From these past experiences, we believe that the 32 blocks reward program served both as a blessing and a curse.
It was a blessing in the sense that it made our coin very popular for miners to mine in the early day's, as they would be greatly reward with a 32 coins payout per block. As this was the case with Bitcoin when it rewarded miners 50 coins per block within its initial 4 year block reward cycle. It was a curse in the sense that miners that were not "Loyal" to the coin would simply mine it, and quickly send the coin's to the exchange and sell it for Bitcoin. Please also keep in mind that during these waves Bitcoin was valued from @$60 - $1000 USD at that time. The first wave in July of 2013 Bitcoin was hovering in around the $100 USD range for several months. The second wave we witnessed the 10x increase of BTC to over $1000 USD which ultimately resulted in the MtGox "Crash"
https://www.wired.com/2014/03/bitcoin-exchange/and eventually the Cryptsy Debacle
http://www.coindesk.com/cryptsy-class-action-lawyers-claims-site/and a slow gradual decline of Bitcoin to the $250 range for almost 3 years after that.
As you follow the history of FastCoin through its 16 blocks and 8 blocks reward cycle you will see from a price perspective its valuation remained relatively flat, as also was the case with Bitcoin at that time. During that time however, we have concluded that most of the “FastCoin” unfaithful’s have been drastically reduced, and of the remaining circulating FastCoin’s in existence today, are now in “Stronger Hands”.
So, what does all this potentially mean? If you look at the chart, things are very encouraging and several Senior Bitcoin forum members have also concurred, that FastCoin is now in its 4 coins per block rewards cycle and quickly approaching 2 coins per block. FastCoin is HardCapped like Bitcoin and any respectable CryptoCoin. As FastCoin continues through its block rewards cycle, and enthusiasts continue to hold it, its value should rise over time.
We would also like to couple this fact about FST with the upcoming realisation that Bitcoin cannot be ALL things for ALL people. It is true that Bitcoin is an epic coin, in being the first mover in this space, and having tremendous community support and a large loyal following of mostly incredibly smart people. However, scaling and speed continue to plague it with its leadership status and now Litecoin is quickly gaining attention as potentially filling the “Smaller” transactions that Bitcoin may not be best suited for. We believe this is a tremendous opportunity for our coin, as several of these facts combined almost create the perfect storm for FastCoin. We also have witnessed several interested parties that are already Beta testing our coin in use cases within select markets all over the world.
Before I get too far ahead of myself, I generally do not like to make price predictions, however myself and several FST foundation members feel that $1 USD per FST is not totally unreasonable. Another comparison made was with DOGE, from a market cap comparison, FST could achieve between $2 - $3 within a year if it were to reach the popularity of DOGE. Again, these numbers are strictly speculation and we generally do not like to go off on these tangents, but there you have it, that is what we feel at present FST is capable of.
Thanks again to all community members for their questions and assistance with other members on matters that are technical in nature or otherwise. Again I would encourage anyone interested to learn more about our coin to register on our forum at...
http://www.fastcointalk.orgI would also encourage anyone with general questions or concerns to email us at
info@fastcoin.ca Look for further announcements made on this thread or our official Twitter feed at
https://twitter.com/fast_coinSincerely
/C
