[ANN]Faircoin - MULTIPOOL PAYS --- 20%--- BONUS! for the next week!!

[illiki23]

FairCoin, the first fairly distributed coin!

How the distribution works:

The most coins go to the hackers who can hide their real ips, run scripts, and rake in hundreds of shares each.

In second place come those who don't have jobs or other responsibilities - people who can sit there all day requesting a token once an hour.  These guys get dozens or more.

Last come people with jobs and school, those who only have the resources to get a small handful of shares.

Fair distribution for the win!

[y3804]

FairCoin, the first fairly distributed coin!

How the distribution works:

The most coins go to the hackers who can hide their real ips, run scripts, and rake in hundreds of shares each.

In second place come those who don't have jobs or other responsibilities - people who can sit there all day requesting a token once an hour.  These guys get dozens or more.

Last come people with jobs and school, those who only have the resources to get a small handful of shares.

Fair distribution for the win!

Fuck you.

I had to stare at the screen the entire time (24h+) and run the thing manually to ensure that things didn't go wrong. Of course I did lots of manual work for this to work. I deserve my share more than you do. Nothing is truly automatic. What do you think happens when I run into an already used proxy server? I have to reset the script, reset the log, etc. etc.. it truly takes a lot of time

Any of you could have done the same. Take a mobile phone, wait 1 hour on the website. There you go, one more share every hour. I basically did the same but used VPN/prox. Therefore I had to register, then go back on every IP I logged to enter the address. All of this had to be done somewhat manually

I'm not a scrypt genius. Just a regular joe. I understand why you guys want to strip my share, but again, no script is truly automatic at this point

[Cryddit]

I've been watching this rollout, and I think it's time for a hats-off to the developers. This is a successful experiment, and in rolling out a proof-of-stake altcoin it's very clearly the way to do it.

This actually worked really well, regardless of the fact that somebody got 350 shares.  I think this is, so far, the gold standard for a proof-of-stake rollout. 

Yes, it was possible to game it - but if the top gamester still wound up with less than 1% of the coins, after putting in 24 solid hours of human work, I'm considering this was in fact a nearly complete success.  Usually when somebody breaks something, they get half or more. 

[lzr1900]

FairCoin, the first fairly distributed coin!

How the distribution works:

The most coins go to the hackers who can hide their real ips, run scripts, and rake in hundreds of shares each.

In second place come those who don't have jobs or other responsibilities - people who can sit there all day requesting a token once an hour.  These guys get dozens or more.

Last come people with jobs and school, those who only have the resources to get a small handful of shares.

Fair distribution for the win!

Fuck you.

I had to stare at the screen the entire time (24h+) and run the thing manually to ensure that things didn't go wrong. Of course I did lots of manual work for this to work. I deserve my share more than you do. Nothing is truly automatic. What do you think happens when I run into an already used proxy server? I have to reset the script.. it truly takes a lot of time

Any of you could have done the same. Take a mobile phone, wait 1 hour on the website. There you go, one more share every hour. I basically did the same but used VPN. Therefore I had to register, then go back on every IP I logged to enter the address. All of this had to be done somewhat manually

Yes.No pains No gains.These nonsense blames should be banned.

[illiki23]

FairCoin, the first fairly distributed coin!

How the distribution works:

The most coins go to the hackers who can hide their real ips, run scripts, and rake in hundreds of shares each.

In second place come those who don't have jobs or other responsibilities - people who can sit there all day requesting a token once an hour.  These guys get dozens or more.

Last come people with jobs and school, those who only have the resources to get a small handful of shares.

Fair distribution for the win!

Fuck you.

I had to stare at the screen the entire time (24h+) and run the thing manually to ensure that things didn't go wrong. Of course I did lots of manual work for this to work. I deserve my share more than you do. Nothing is truly automatic. What do you think happens when I run into an already used proxy server? I have to reset the script, reset the log, etc. etc.. it truly takes a lot of time

Any of you could have done the same. Take a mobile phone, wait 1 hour on the website. There you go, one more share every hour. I basically did the same but used VPN/prox. Therefore I had to register, then go back on every IP I logged to enter the address. All of this had to be done somewhat manually

I'm not a scrypt genius. Just a regular joe. I understand why you guys want to strip my share, but again, no script is truly automatic at this point

Congratulations, you are a cheater.  
This would have been a somewhat fair launch if it were not for selfish people like yourself who will just take what they can from others.
I could have done the same, but did not - not because of technical difficulties but because it would make me an asshole.

[illiki23]

I've been watching this rollout, and I think it's time for a hats-off to the developers. This is a successful experiment, and in rolling out a proof-of-stake altcoin it's very clearly the way to do it.

This actually worked really well, regardless of the fact that somebody got 350 shares.  I think this is, so far, the gold standard for a proof-of-stake rollout. 

Yes, it was possible to game it - but if the top gamester still wound up with less than 1% of the coins, after putting in 24 solid hours of human work, I'm considering this was in fact a nearly complete success.  Usually when somebody breaks something, they get half or more. 

I do have to disagree, the distribution model is highly flawed. 
You cannot call this a 'gold standard' when certain individuals get considerably more stake than others because of security gaps. 
Systems which give stake to registered bitcointalk or facebook users are even fairer than this even though the exclude the majority of people, at least the system cannot be gained to such extent as one person getting almost a percentage of the stake.

[wwdz99]

  to the moooooon!!!

[leigh2k14]

Can't wait for my free coins, I think the whole process was quite fair.

The people who are bitching are the ones without any coins.

[illiki23]

Can't wait for my free coins, I think the whole process was quite fair.

The people who are bitching are the ones without any coins.

You do see how the fact that certain people are bitching because they are getting less coins than others indicates that the process was unfair?

I took one stake mostly because I did not have the time to sit around every hour requesting a token, nor the lack of ethics required to use scripts.

[y3804]

FairCoin, the first fairly distributed coin!

How the distribution works:

The most coins go to the hackers who can hide their real ips, run scripts, and rake in hundreds of shares each.

In second place come those who don't have jobs or other responsibilities - people who can sit there all day requesting a token once an hour.  These guys get dozens or more.

Last come people with jobs and school, those who only have the resources to get a small handful of shares.

Fair distribution for the win!

Fuck you.

I had to stare at the screen the entire time (24h+) and run the thing manually to ensure that things didn't go wrong. Of course I did lots of manual work for this to work. I deserve my share more than you do. Nothing is truly automatic. What do you think happens when I run into an already used proxy server? I have to reset the script, reset the log, etc. etc.. it truly takes a lot of time

Any of you could have done the same. Take a mobile phone, wait 1 hour on the website. There you go, one more share every hour. I basically did the same but used VPN/prox. Therefore I had to register, then go back on every IP I logged to enter the address. All of this had to be done somewhat manually

I'm not a scrypt genius. Just a regular joe. I understand why you guys want to strip my share, but again, no script is truly automatic at this point

Congratulations, you are a cheater.  
This would have been a somewhat fair launch if it were not for selfish people like yourself who will just take what they can from others.

The system wasn't bulletproof against cheating. If you really believe this was an unfair distribution, ask the devs to put a one stake/IP limit. I believe you are correct; there were ways to make the launch even fairer, such as 1stake/IP, 1stake/BCT account or even more complex systems such as 1 stake for each unique account registration on the website, requiring email confirmation to get a token.. with an even bigger delay (24 hours)...

However I didn't decide what were the limitations of the stake distribution system..

There is also the problem of transparency.. How can you believe the devs didnt participate? I'm sure these guys hold thousands of stakes..

BTW yes I do lack ethics, that's why I'm on BCT investing in Ponzi scams (crypto altcoins) trying to exchange virtual currencies which hold no materialistic value into fiat

[Camilio]

Can't wait for my free coins, I think the whole process was quite fair.

The people who are bitching are the ones without any coins.

You do see how the fact that certain people are bitching because they are getting less coins than others indicates that the process was unfair?

I took one stake mostly because I did not have the time to sit around every hour requesting a token, nor the lack of ethics required to use scripts.

ethics and cryptocurrencys doesn´t match. just saying 

[Bansheroom]

Has anyone recieved coins yet?

[lily3241]

How can I get my faircoin now?

[PyroClasTix]

Waiting for coinseseses!

[nightwishx]

Waiting for coinseseses!

me too

faircoin to the moon

[kino]

Dev, please release only 5% of the coin every week to create huge demand on the market. Releasing all coins at the same time will just promote huge dump at the exchange that will drive the coin's price down.

[bitcoinsservice]

Dev, please release only 5% of the coin every week to create huge demand on the market. Releasing all coins at the same time will just promote huge dump at the exchange that will drive the coin's price down.

Great idea!

[JamesOng]

I've been watching this rollout, and I think it's time for a hats-off to the developers. This is a successful experiment, and in rolling out a proof-of-stake altcoin it's very clearly the way to do it.

This actually worked really well, regardless of the fact that somebody got 350 shares.  I think this is, so far, the gold standard for a proof-of-stake rollout. 

Yes, it was possible to game it - but if the top gamester still wound up with less than 1% of the coins, after putting in 24 solid hours of human work, I'm considering this was in fact a nearly complete success.  Usually when somebody breaks something, they get half or more. 

I do have to disagree, the distribution model is highly flawed. 
You cannot call this a 'gold standard' when certain individuals get considerably more stake than others because of security gaps. 
Systems which give stake to registered bitcointalk or facebook users are even fairer than this even though the exclude the majority of people, at least the system cannot be gained to such extent as one person getting almost a percentage of the stake.

the only coin that can show both transparentcy and fair distribution is Coin2/C2..C2 distribution actually has it flawed that i beleive few ppl thats greed gainning with multiple accts,but since its take 7-10days to distribute to just 1000..it's actually  indicated that the distribution was not heavily abused by cheaters..thats make it accidently to be "the most fair and most tranparent distribution so far"
the way that C2 distribution via FB will be never duplicate and success for the next copycat again bc if it happen again..even 10000 address have to distribute..it will likely just deplete in an hour.

[ITGeniusGuru]

The most coins go to the hackers who can hide their real ips, run scripts, and rake in hundreds of shares each.

Fuck you.
I had to stare at the screen the entire time (24h+) and run the thing manually

As a long-time watcher of BTC, I'd like to say that GREED motivates cryptocurrency. It is what sent BTC To the sky. Today BTC sells for over US$640 on exchanges... not bad for an imaginary currency invented by an anonymous hacker who is not willing to reveal his true identity!
But then... "GREED is GOOD". It's what motivates us all to improve our lives.

The way I see it, if FAC takes off and builds-up monetary value, then illiki23 and Co. will be handsomly rewarded for their "hard work"
If - on the other hand - it withers and dies (like NMC), then illiki23 wasted 24 hours of his life.
I predict the latter. But then again, that's what I had predicted for BTC, and I have been wrong so far.

I haven't read the entire thread, so I do not know much, but can someone answer a couple of questions I have:
There exist now 50 Million FACs, they were pre-mined.
Is that the top limit? No more will ever exist? Or can more be generated by mining?
If I understand correctly, the 50 Million will now be distributed among all registrants. Do we know how many registrants exist?

[notallthere]

I haven't read the entire thread, so I do not know much, but can someone answer a couple of questions I have:
There exist now 50 Million FACs, they were pre-mined.
Is that the top limit? No more will ever exist? Or can more be generated by mining?
If I understand correctly, the 50 Million will now be distributed among all registrants. Do we know how many registrants exist?

49,750 total shares for 95% of original 50 million. ~1000 coins per share.
Scrypt PoW/PoS hybrid
50,000,000 premined coins
Flat 6%/year minting reward, halving every year until baseline of 1.5%
30/90 days min/max weight
10 minutes block target
30 minutes difficulty retarget
Flat 0.001 coin mining reward to eternity