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Author Topic: [FRSC] will trade in the U.S. market, reply wallet address, giving 2014 coin...  (Read 22161 times)
FRSC_01
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December 30, 2013, 06:04:43 PM
 #1

http://federalreservecoin.org/frsc.jpg

Two days before Christmas in 1913, Woodrow Wilson signed the Federal Reserve Act. The law sought to end bank failures by creating a central banking system. But a century later, the Federal Reserve has become an enabler of the financial havoc it was designed to prevent. A look at the Fed's history offers some insight into the problems.

Federal Reserve system coin (FRSC) was born in the Federal Reserve 100th birthday.This's a virtual currency experiment at the Financial system function, the world of a not without inflation and devaluation, let us feel the true meaning of the Federal Reserve system.

December 18, 2013, the Fed announced its withdrawal of quantitative easing (QE), its withdrawal from January 2014, the monthly scale bond purchases will be reduced from 10 billion to 75 billion U.S. Five years ago, the Fed opened a lot of people have been likened to "printing machine" QE monetary policy.

FRSC use scrypt algorithm,produce one blocks per minute, each block of the first year of a 20% reduction coins every 30 days,In the second year unchanged,third year decreased by 50% per year,the total mining time is infinite.


OFFICIAL WEBSITE:

http://federalreservecoin.org/

DOWNLOAD WALLET:

http://federalreservecoin.org/FederalReserveSystem-qt_1.0.0.0_Win32.rar

OPEN SOURCE DOWNLOAD LINK:

http://federalreservecoin.org/federalreserveCoin-master-SourceCode.rar

DOWNLOAD MINING SOFTWARE:

http://federalreservecoin.org/cgminer-3.1.1-windows.rar

MINE POOL:

CUTIVE SUMMARY ON USAGE:

After saving configuration from the menu, you do not need to give cgminer any arguments and it will load your configuration.

Any configuration file may also contain a single "include" : "filename" to recursively include another configuration file.
Writing the configuration will save all settings from all files in the output.


Single pool:

cgminer -o http://1.federalreservecoin.org:8989 -u username -p password

Multiple pools:

cgminer -o http://1.federalreservecoin.org:8989 -u pool1username -p pool1password -o http://2.federalreservecoin.org:8989 -u pool2usernmae -p pool2password

Single pool with a standard http proxy, regular desktop:

cgminer -o "http:proxy:port|http://1.federalreservecoin.org:8989" -u username -p password

Single pool with a socks5 proxy, regular desktop:

cgminer -o "socks5:proxy:port|http://1.federalreservecoin.org:8989" -u username -p password

Single pool with stratum protocol support:

cgminer -o stratum+tcp://1.federalreservecoin.org:8989 -u username -p password

The list of proxy types are:
 http:    standard http 1.1 proxy
 http0:   http 1.0 proxy
 socks4:  socks4 proxy
 socks5:  socks5 proxy
 socks4a: socks4a proxy
 socks5h: socks5 proxy using a hostname
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December 30, 2013, 06:45:00 PM
 #2

give it three months and you can sign up for reserve welfare and live off the system forever
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December 30, 2013, 07:08:19 PM
 #3

The Fed Celebrates Its 100th Birthday

The institution created to end bank failures has morphed into an engine of financial and economic instability.
Two days before Christmas in 1913, Woodrow Wilson signed the Federal Reserve Act. The law sought to end bank failures by creating a central banking system. But a century later, the Federal Reserve has become an enabler of the financial havoc it was designed to prevent. A look at the Fed's history offers some insight into the problems.

The Federal Reserve was created in reaction to the Panic of 1907. The Knickerbocker Trust Company collapsed in October of that year, triggering fear that other banks wouldn't be able to honor depositors' demands for their money. To end spreading bank runs, famed financier J.P. Morgan and a consortium of leading moneymen put their own capital into the system.

Yet institutions with long-term assets and short-term liabilities—such as banks—are always at risk of becoming illiquid and prone to runs. And what if next time there wasn't a J.P. Morgan to intervene? In response to the panic, Congress called for an institutional lender of last resort to tide over solvent but temporarily illiquid banks, following the British journalist Walter Bagehot's famous advice that in a crisis a central bank should exist to "lend freely at a high rate, on good collateral." Thus the new law sought to "provide for the establishment of Federal Reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes."

Fifty years later, Congress clarified what it meant by "other purposes." The Federal Reserve Reform Act of 1977 gave the Fed a mandate to "promote maximum employment, production, and price stability." The change reflected the era's economic thinking: With Keynesian fiscal policy discredited, the latest fad was a belief that monetary policy could smooth fluctuations in GDP—playing God with economic productivity.

Fed chairmen interpreted this new power to save the world in different ways. William McChesney Martin, Fed chairman from 1951 to 1970, said the Fed's job is "to take away the punch bowl just as the party gets going." In other words, start raising interest rates at the earliest signs of an asset bubble. Paul Volcker, Fed chair from 1979 to 1987, who had to use double-digit interest rates to quell double-digit inflation, showed how messy the morning after could be if the party got out of hand.

But Alan Greenspan, at the helm from 1987 to 2006, didn't think you could distinguish artificial bubbles from the high spirits of economic growth. All the Fed could do, in Mr. Greenspan's assessment, was get out the monetary mop and clean up the party after broader inflation breaks out. During his tenure the Fed did little to rein in asset prices and prevent bubbles, but it took dramatic liquidity actions when bubbles burst—which then inflated the next bubble.

Mr. Greenspan's successor, Ben Bernanke, endorsed this method, saying in a 2002 speech before the National Association for Business economics that "monetary policy is not a useful tool" for preventing asset bubbles. And when the financial crisis erupted in 2008, Mr. Bernanke pumped liquidity into the market to mitigate the damage to banks' balance sheets. The Fed certainly lent freely, as Bagehot advised, but at token rates and against dubious collateral.

Yet saving the financial institutions wasn't enough. The Fed was also expected to boost the rest of the economy. So in November 2008 it launched its first of three rounds of "quantitative easing," purchasing billions of Treasurys and, later, mortgage-backed securities, in an effort to tinker with the long end of the yield curve.

As a result of this liquidity infusion—which the Fed last week cut to $75 billion a month—stock markets have nearly doubled since 2009 while the "real" economy has hobbled along with 2% growth. This perverse situation suggests that the stock market has joined government bonds and emerging markets as the latest inflating bubble.

On Aug. 15, the London Telegraph reported that British retail sales had risen unexpectedly sharply and that American unemployment had fallen to a six-year low. This would usually be promising macroeconomic news, but that day major indexes—the Dow Jones Industrial Index, the S&P 500, the CAC 40, among others—tumbled. Markets, hooked on the Fed's cheap liquidity cocktail, were terrified that an improving U.S. economy might see the punch bowl removed with a Fed "taper" of quantitative easing.

A day later, when the results of a U.S. consumer confidence survey came in "far worse than expected," stock markets rallied. Markets are supposed to be driven by the expectations of a stock's perceived profitability, not the pursuit of speculative gains caused by the manipulations of central bankers. Now the economy appears to be in a position where the interests of financial markets are precisely at odds with the interests of the rest of the economy.

Last week the Fed announced a "taper-lite": a small reduction in asset purchases, a backpedaling from the commitment to raise interest rates when unemployment falls to 6.5%, and no actual end to QE. Markets celebrated.

No matter. Mr. Bernanke has kept the party going, pursuing a more accommodating monetary policy than ever before in Fed history. His expected successor Janet Yellen will eventually have to face the tricky task of sneaking the punch bowl out of the party without starting a commotion. But for now the Fed is celebrating its centennial birthday by offering everyone another round.

Mr. Phelan is a fellow at the Cobden Centre in the U.K.
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December 30, 2013, 07:37:21 PM
 #4

That's quite possibly the least appealing name for an altcoin yet, heh.  Just waiting for someone to launch NSAcoin now.

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December 30, 2013, 08:29:59 PM
 #5

That's quite possibly the least appealing name for an altcoin yet, heh.  Just waiting for someone to launch NSAcoin now.

you dont track the coins, the coins track you
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December 30, 2013, 09:16:01 PM
 #6

As if we didn't already have enough altcoins...

But since even DogeCoin is now listed on some exchanges (WTF?), really doesn't matter Wink

PS.
The term "Federal Reserve" will likely get the operator in trouble.
As he should know, that's a private company likely owning all rights to their company brand "Federal Reserve".

Can't imagine a central bank taking it lightly when their company name is used for an Altcoin, should it ever take off...

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December 31, 2013, 11:10:11 AM
 #7

That's quite possibly the least appealing name for an altcoin yet, heh.  Just waiting for someone to launch NSAcoin now.



FED is the central bank, has little to do with virtual coins, NSA... Smiley
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December 31, 2013, 11:12:27 AM
 #8

This coin must have a built in inflation rate of 100% in order to be believable.

Make that 1000%.  Roll Eyes
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December 31, 2013, 11:25:06 AM
 #9

As if we didn't already have enough altcoins...

But since even DogeCoin is now listed on some exchanges (WTF?), really doesn't matter Wink

PS.
The term "Federal Reserve" will likely get the operator in trouble.
As he should know, that's a private company likely owning all rights to their company brand "Federal Reserve".

Can't imagine a central bank taking it lightly when their company name is used for an Altcoin, should it ever take off...


I think the Fed should see us as a good joke...
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December 31, 2013, 11:28:06 AM
 #10

That's quite possibly the least appealing name for an altcoin yet, heh.  Just waiting for someone to launch NSAcoin now.

Or AdolfHitlerCoin  Grin What about Kim Jong-Un Coin? Ah damn it. No potential fan has free internet (or even internet).

"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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December 31, 2013, 11:35:25 AM
 #11

I'm in; i like mocking with the FED Cheesy:D

Where do we exchange? Smiley

PS. a very well designed wallet and carefully crafted coin! FINALLY something that WORKS upon release!!!

THIS SHOULD HAVE GOTTEN MUCH MORE ATTENTION!
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December 31, 2013, 11:43:30 AM
 #12

I think the Fed should see us as a good joke...

What you think they should and what they do is two incompatible dimensions...
Humor certainly isn't one of their qualities, their type of humor we would (at best) describe as evil sociopathic terrorism.

Do as you please of course, just beware that pissing on a demon's feet might cause a reaction. You'll survive of course (they won't send in MIBs), but your coin will likely be less fortunate.

Being a central bank, they'll happily gather up any ammunition against open cryptocurrencies they find. You just gave them another round, that's all I'm sayin' ...

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December 31, 2013, 12:09:49 PM
 #13

I think they couldn't care less; and if they do, we will just change the name of the coin Smiley

in the meantime OP; what are your intentions with this coin? What will you be doing to support and start the community in trading this coin? Giveaways etc on the coin planned?


EDIT: Pools from the readme file in the windows wallet; ports are different (8080; not 8989):

MINE POOL:

http://192.126.123.157:8080
http://210.209.125.41:8080


and if there will be enough support; i will be setting up a pool too. I need to have the source code though to compile a deamon...
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December 31, 2013, 12:25:00 PM
 #14

Pools are not working!!
myrinx
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December 31, 2013, 01:10:00 PM
 #15

I see someone mining in one of the pools; so i figure the pools are ok.

However; diff is low enough for solo mining with the windows wallet and pointing your cgminer to the client! have the rpcuser and rpcpassword set as your workername and password!

this is for the federalreservecoin.conf file. point your miner to 127.0.0.1:5894 and mine away!

cgminer config

Code:
{
"url" : "127.0.0.1:5894",
"user" : "frscuser",
"pass" : "frscpass"
}

conf file
Code:
rpcuser=frscuser
rpcpassword=frscpass
rpcallowip=127.0.0.1
rpcport=5894
port=5895
daemon=1
server=1
listen=1
gen=0
addnode=192.126.123.157:5895
addnode=14.222.62.102:5895
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December 31, 2013, 01:14:17 PM
 #16

I tried both pools but they are not connectable
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December 31, 2013, 01:15:38 PM
 #17

Did someone fart in an elevator in here?

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
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December 31, 2013, 01:21:54 PM
 #18

I tried both pools but they are not connectable

mine solo! Diff is very allowable for that right now!

i'm trying to get source for the deamon from OP and set up a pool for you to mine on.
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December 31, 2013, 01:30:34 PM
 #19

rather new to solo mining:

anything i need to tweak when I get :

 [2013-12-31 13:28:40] Network diff set to 0
 [2013-12-31 13:28:40] New block detected on network before longpoll
 [2013-12-31 13:28:40] Pool 2 not providing work fast enough

?

Signatures are so 2014.
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December 31, 2013, 01:31:58 PM
 #20

wallet is screwed up , same as the ron paul one. must be same coder....

only accepts connections from 4 other machines before refusing more connections, same thing in ron paul

no source either, Huh





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    █████   █████  █████       █████ █████  █████       █████ ▐█████              █████████████████████████  █████ ███████████████
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