FXC Foxcoin The new altcoin i like!

[mrsmoke]

 Hello everbody!

I'm 19 years old and i live in Holland.
I realy like the idea of cryptcoins like Bitcoins Litecoin etc...
Just want to tell you that if you don't trust or like my coin don't invest in it.( trust is what its all about)
My goal is to invest the BTC from shares in the Foxcoin itself.
Leftover BTC could be used to buyback the FXC from pre-miners.( this could create start value)
And takes (big inventors profit) away from me
And it wil be used to develop te coin for more uses.

I like bitcoin and litecoin.
But it could be more like that right?
Just like: USD, EUR, Yen, AOA, GBP, ALL, AFN, RUB, DZD, XCD, AWG, AMD, ARS .............................

If you invest in it and the herde of sheep follows because they like it.
It has become a digital value because of the work, time and investment you put in to it.

Actualy you could see it like this.

A cryptcoin is using electricity bills and hardware investments to give the coin value.
As they say.. Money makes Money  

I want to be as transparant as possible to everbody! ( share holders can have my personal details if they ask me  ) Got nothing to hide.

You got suggestions, You don't like something, or whatever just let me know!
Together we could get somewhere with ideas and trust.


I created a new Altcoin thats called Foxcoin (FXC) (Foxconn ) with SHA-256 Algorithm.
It's a Altcoin with a total of 47.25mil coins with 1 FXC every 10 seconds ( Bitcoins are 1BTC every 12 seconds)
One block takes 12.5 minutes (1.25x BTC block).( transaction times are diverse)
But the reward per block is 75 Foxcoins (1.5x BTC.)
If BTC would represent the value of the dollar 1 BTC could be 10m $ 1 santoshi would be $0,10
With FXC you have a little more than double the BTC coins.
So for USD 1 FXC would be little less than 5m $ 1 Foxtoshi would be $0,05.


For the start-up i was thinking about limited Cpu mining.( this wont work! )
Now i thought about centralise decentraliced Asic share mining.

You can get a share of 1% for 1 BTC This represents a 1 Gh/s share of the total 100Gh/s.
There will be 100 decentralized miners of 1Gh/s each for the share keepers.
1% share is cost 1Gh/s mining rig + power costs + pre-mine +monitising them till 1m coins mined.
1% share should mine about 10,000 FXC. ( approx 3 months)
When 1m coins is reached, the mining platform will be send first to share holders.
Before that the mining will be opperated by me to prevent 51% kill and unfair mining. ( live webcam? )

With controled imput of the mining power after release to the share holders own rigs and the 100 rigs that are already running it will be harder to kill the coin with 51% at after pre-mine start
After 1 week past 1m coins it will be released full to the public for mining and exchange.
Your old miners become usefull again  

I need to have invests in the shares to get the Foxcoin working!
Need to set up 100 decentralized mining rigs and maintain them.
So the start-up wil be monitized by me so that's also a investment.
Live statistics about your share FXC mining rig wil be created with share owner login.

The mining will start after miners are setup and all shares are bought.
I want to start the 100 share rigs on 01-03-2014 00:00 hour.


If you are interested to help me get this Foxcoin in the market.
Feel free to leave a comment or send me a Pm.

If you have ideas to improve let me know!

1% share is 1BTC ( you get your own miner and wallet. Instant FoxCoin miner payout to transfer them to your private wallet )

89x 1% share for 1BTC

100x 0.1% share for 0.125 BTC ( you share a miner with 9 others. 10% FXC for each 0.1% share. payout every month)

100x 0.01% share for 0.0135 BTC  ( 1 miner shared with 99 other share holders. Aprox 100 FXC after pre-mine)


Max 5.5% shares for 1 person.



  Shares in %     Owner Name     Payment in BTC   Gh/s Mining share           Comments
l___________l______________l_______________l________________l__________________ _____________l _______________________________________________________________________________ ___________
l     1 %       l  MrSmoke         l      1 BTC          l     1 Gh/s            l  Mined coins are free promotion used!
-------------------------------------------------------------------------------------------------------
l     0.1 %    l   Dutchdem       l      0.125 BTC    l    0.1 Gh/s           l    Thanks Dutchdem!
-------------------------------------------------------------------------------------------------------
l     0.05%   l  Saikominer        l       0.08 BTC    l   0.05 Gh/s          l   a share is a share!  aprox 500 FXC
-------------------------------------------------------------------------------------------------------
l     2.5 %    l  Anonymous       l       2.5 BTC     l    2.5  Gh/s          l  aprox 25,000 FXC mined with shares
-------------------------------------------------------------------------------------------------------
l     1 %      l  Anonymous 2      l       1 BTC        l     1   Gh/s           l  Aprox 10,000 coins              
-------------------------------------------------------------------------------------------------------
_________________________
   4.65% Total shares sold.

[BlockChainLottery]

Why all these new alt coins? Can you explain what the benefits are?

[mrsmoke]

Why all these new alt coins? Can you explain what the benefits are?

Hi thanks for asking.

One of the benefits is that it's fairly pre-mined ( bitcoin wasn't for sure!) You can check the fairness!
There's only gonna be 2.02% pre-mined coins for the start-up.
This will also be a investment of te value of the Foxcoin.
This is to make a secure network that will start grow controlled after pre-mining.
The coins i get with my 1% share ( 10,000 FXC) will be used to give away for free to promote Foxcoins.
Block time is 2.5 minute longer than BTC but you get coins like you mine 15minutes(BTC).
Al the coins ( 47.25m) will be mined within 15 years. This is to make a quicker stabalized price per coin.
After pre-mining the exchange wil open for selling your FXC to buyers.
After mining of all the coins miners can earn with transaction fees.

It's all about trust if you want to give a coin some value.

There's gonna be much more improvements in this coin.

[BlockChainLottery]

I know that someone always should be careful with criticism, I don't want to run down your ideas. I want to give some constructive criticism and I just want to bring some questions forward that I most of the time have when dealing with alt coins.

• I think that the first Bitcoins were mined fairly. Indeed, anyone could mine Bitcoin from the very beginning. It just was unknown at that time. It doesn't mean that a lot of the coins are held by the first miner(s), arguably by Satochi. I don't know what he will do with his coins, he could destroy Bitcoin when bringing it to the market, but until now it's unused and maybe it will stay that way. This could be seen as unfair, but I think it was inevitable.
  
• With Foxcoin a select group of people is gonna hold 2.02% of the coins. That isn't really fair mining, but I can see how it could be needed to get some momentum.
  
• I will give you credits for giving away your share, it would be good for adoption. But try to be very clear on how you do it, to be as transparent as you can be.
  
• The block time and amount of coins reasons of alt coins never give really good explanation of why they are better than Bitcoin. I know the waiting time for confirmations is annoying, but from what I have red over the past years that can all be solved by other payment layers for smaller amounts etc. That there only can be 21 million Bitcoins mined doesn't matter, the fact that it is limited is important. So why is it better?
  
• Mining in 15 years can also be fatal when it takes more time to get your coin to become popular. If miners can't make enough money from fees at that time, then they have no reason to continue mining. Bitcoin is already around us a few years, but the fee reward is still really small. It will become very interesting to see what's gonna happen when the block reward is halved again.
  
• After pre-mining, when buyers can buy coins, what will be the benefits of paying with Foxcoin?
  
• What does fall under much more improvements?
  

[EmoneyRu]

Nice Foxconn-like name, but no. Too much premine

[breakbeater]

Same scam over and over again..

[mrsmoke]

Nice Foxconn-like name, but no. Too much premine

I think the pre-mine is needed to give the coin a start.
Also the pre-mine is added for security of the first mined coins. ( total pre-mine coins could be lowered 0,5m? 0,25m?)
But if you get lesser coins.. would you still want to invest your money...
Think that people will invest MONEY for something that's nothing now.
With that trust it has better potential than a free start mine coin.
I think a free to mine coin is pre-mined by the owner to have a lot of coins.

As a share holder you invest your money to give the FXC a start $ 1 value after 1m mined.

I'm still working out the full plans of my Foxcoin.
Just started this week with the ideas  
Got on the name when i was watching FOX NEWS
Also emidiatly googled foxcoin.
It auto corrected to foxconn.

I think the good thing is it doesn't take 6 block a hour blocks. but after 5 blocks 1 hour and 2.5 min passed.

If you have any improvements or whatever just let me know!
Even if you dissagree with everything please let me know why.
What can i do to improve it?


P.s. Sorry for my not so great english spelling  

[breakbeater]

People, READ the Forum. Don't get SCAMMED..........in the last 2 weeks many got scammed this way: "Send me your BTC and i promise you a share of NOTHING" .

Tips appreciated: 1DCZ8gSTePC2Limbs3zCvxe17xmfJb2tJT

[mrsmoke]

Same scam over and over again..

Your free to think it's a scam my friend..
But i don't do this with intention te scam anybody.
At first i always said Altcoins can destroy the potential of bitcoins.( on dutch forums)
But when i saw 10000 posts of new altcoins i just had to create one myself.
I think i have some good ideas for a new altcoin.
You are totaly free to dissagree with that.

In history you see a lott of people where called insane when they were actualy right.
Santoshi nakamoto made us think about the way we use money and created a system.
In the beginning of bitcoin people called you insane for spending money on bitcoins.

[mrsmoke]

People, READ the Forum. Don't get SCAMMED..........in the last 2 weeks many got scammed this way: "Send me your BTC and i promise you a share of NOTHING" .

Tips appreciated: 1DCZ8gSTePC2Limbs3zCvxe17xmfJb2tJT

As i said.
I don't have any intention to scam people.
As new altcoins come up every day i want to get some serious people together to make a coin that makes sence.
If you read my explenation carefully enough you understand i don't want it to end as a scam. Or killed by 51%
I don't want (MrSmoke) shares because that wouldn't be fair.
I want to give away the coins comming from that share to promote the coin. (Free Lottery, give away, etc.)
I want centralized  decentralized share pre-mining to make it impossible to cheat on pre-mining! or 51% kill.

Please let me know what you want changed to make it a trustworthy coin.
Or do you just say every altcoin is a scam?

Im open for everything you got to say! and i respect everybody that gives his opion about my thoughts.


THANKS!


P.s. I think it's even worse to ask for tips when you say something is a scam while it isn't...

[oroqen]

Why all these new alt coins? Can you explain what the benefits are?

better yet, whats with all the new alt coins that want you too send BTC into their IPO. Why cant we have nice things

[weedoge]

What does the Foxcoin say?!

[mrsmoke]

Why all these new alt coins? Can you explain what the benefits are?

better yet, whats with all the new alt coins that want you too send BTC into their IPO. Why cant we have nice things

Well i need a start-up for the security of the coin mining network.
Can't buy 100 mining rigs, Space, Electricity my self and give the shares away for free.
Maintain al rigs and monitor them 20 hours a day.
The rigs are centralized but the mining is decentralized with a wallet for each rig.
I think that putting money ( start hardware and power) in it wil make it a value.
Some of the other altcoins asking for BTC for Shares just want your BTC as (inventors profit).
They won't invest it in the promotion, security, and value of the coin.
Thear intention is just fill up the Bitcoin wallet they have..


A 1% share = 1Gh/s = 1% of pre-mining network = PRE Foxcoin mining without doing anything yourself.
( if you think it's not fair done. Everything will be transparent ass possible)

Your beleive in a coin with lots of other people can make or breack a coin.

After pre-mine 289 (- mrsmoke share)  people wil have a bunch of foxcoins.

Mrsmoke share will be devided amongst 10.000 people. 1 FXC per person.

With 10.288 Foxcoin keepers and open mining possible this could attract other miners traders etc.

[mrsmoke]

If you could add it to cryptsy or any famous bitcoin exchanger most likely you will get some interest but having the coin itself is not special and 2-3 coins come out daily and if you can't exchange it for BTC/Money it's mostly useless.

As promotion i could buy back some of the FXC with the leftover BTC from the shares.
These FXC could be frozen to make it fair for everybody  
Buyback would only be for pre-miners.( and will be calculated with based on shares)
This could give the coin value a good kick to become something.

If you dissagree or have a good idea please let me know!

Just want to be as fast as a fox to kick all scam alts out the (WINNING) box

[mrsmoke]

If you could add it to cryptsy or any famous bitcoin exchanger most likely you will get some interest but having the coin itself is not special and 2-3 coins come out daily and if you can't exchange it for BTC/Money it's mostly useless.

Money makes Money.

If you invest in a few coins it could become something of value.
There are more than 100 currencies on this world.
And now we have Bitcoin Litecoin and .....
The value is that you invest hardware and power to create secure digitial coins.
Digital coins value is:

   Hardware Investment
               +
   Power use x Difficulty
               +
   Mining profit and fees
              = Initial coin value
              + or -
  Speculations
              = Coin buy/sell value

Some people even loose money on mining Bitcoins now.

That is why people go to alt coins now.

We are creating THE PEOPLES CRYPTCOIN EXCHANGE.

Just like our governments do...

[publicjud]

another day, another coin...

[mrsmoke]

People, READ the Forum. Don't get SCAMMED..........in the last 2 weeks many got scammed this way: "Send me your BTC and i promise you a share of NOTHING" .

Tips appreciated: 1DCZ8gSTePC2Limbs3zCvxe17xmfJb2tJT <--------- send him a tip for just NOTHING.

Damnn... ur the begging good guy in this one... Right?

[thisisnotmyltcusername]

another hour, another coin...

fixed

[mrsmoke]

With Foxcoin a select group of people is gonna hold 2.02% of the coins. That isn't really fair mining, but I can see how it could be needed to get some momentum.
[/li]
[li]
I will give you credits for giving away your share, it would be good for adoption. But try to be very clear on how you do it, to be as transparent as you can be.
[/li]
[li]
The block time and amount of coins reasons of alt coins never give really good explanation of why they are better than Bitcoin. I know the waiting time for confirmations is annoying, but from what I have red over the past years that can all be solved by other payment layers for smaller amounts etc. That there only can be 21 million Bitcoins mined doesn't matter, the fact that it is limited is important. So why is it better?
[/li]
[li]
Mining in 15 years can also be fatal when it takes more time to get your coin to become popular. If miners can't make enough money from fees at that time, then they have no reason to continue mining. Bitcoin is already around us a few years, but the fee reward is still really small. It will become very interesting to see what's gonna happen when the block reward is halved again.

[/li]
[li]
After pre-mining, when buyers can buy coins, what will be the benefits of paying with Foxcoin?
[/li]
[li]
What does fall under much more improvements?
[/li]
[/list]

The select group ( that invest)actualy make less profit than early bitcoin miners that did it with cpu...
If you invest real money to create digital currencie it can get value.
Like the bitcoins Litecoins.......


I want to have a faster stabilization of the value of the Foxcoin.
If all coins will be mined in 15 years would mean a big jump in technologie.
Look how fast the miners now become like Asics and Fpga. Gpu isn't profitable anymore on BTC.
A lot of people wont ever make return of investment with mining bitcoins.
I think in 15 years miners will even make profit of transactions.
Miners are getting faster by the day.

[pawel7777]

Smells like a scam to me...
But if not, I got one question - what's in it for you? Where's your profit?
Since, you claim, all the BTC leftovers and coins from your share are to be used in promotion, giveaways etc, why would you bother to do anything after selling out all the shares?
Care to clarify?