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

[fair-cointeam]

Flat 6%/year minting reward, halving every year until baseline of 1.5%
30/90 days min/max weight


So looks like stake mining begins after 30 days minimum. 6% a year is .5% a month? i dont fully understand either to be honest how to calc. -- would 1000 coins after 30 days walleted up bring back 5 FAC?

yes
http://www.peercoin.net/minting

yes but we are not on that system it seems...

Peercoin uses a hybrid proof-of-work/proof-of-stake system. Instead of being dependent on hashing power available, proof-of-stake blocks are distributed according to possession of the coins. For example, an individual possessing 1% of all Peercoins currently in existence would be able to mint 1% of the proof-of-stake blocks.

whereas here its a flat rate.(6%)  im wondering now if the example i provided is correct(.5% a month min flat?)  or??

if i hold 1000 coins for 1 month exactly, and successfully mint-- how is that calculated?

you are confusing the reward amount with the system
the reason for the word "flat" is because a number of coins (e.g novacoin) use a dynamic calculation for determining the actual reward
our pos is essentially a copy&paste of peercoin with different rewards

[whoopdee]

Flat 6%/year minting reward, halving every year until baseline of 1.5%
30/90 days min/max weight


So looks like stake mining begins after 30 days minimum. 6% a year is .5% a month? i dont fully understand either to be honest how to calc. -- would 1000 coins after 30 days walleted up bring back 5 FAC?

yes
http://www.peercoin.net/minting

yes but we are not on that system it seems...

Peercoin uses a hybrid proof-of-work/proof-of-stake system. Instead of being dependent on hashing power available, proof-of-stake blocks are distributed according to possession of the coins. For example, an individual possessing 1% of all Peercoins currently in existence would be able to mint 1% of the proof-of-stake blocks.

whereas here its a flat rate.(6%)  im wondering now if the example i provided is correct(.5% a month min flat?)  or??

if i hold 1000 coins for 1 month exactly, and successfully mint-- how is that calculated?

you are confusing the reward amount with the system
the reason for the word "flat" is because a number of coins (e.g novacoin) use a dynamic calculation for determining the actual reward
our pos is essentially a copy&paste of peercoin with different rewards

yes ppc uses a dynamic calculation, (as listed in above example) and we use FLAT(non dynamic flat percentage based). i get that. what im now wondering is how one would actually calculate 1000 fac @ 30 days and successfull minting = x coins?

im no genious...

[SlientBit]

PoS isn't something i or anybody else starts
it's part of the coin
there is a 30 days min weight, after that we'll start seeing pos blocks

Yeh, my bad, should have checked the info, still a long way for any coin to have 30 days shelf life
I really thought there was some process "holding" PoS from starting because not all distribution was finished noob 

Anyway, thanks for the reminder

[y3804]

I contacted Coinhorse, diceroll, bombsweeper, and another casino/roulette (http://l8.lv)

Trying to find some services, but the major problem is that it's hard for them to trust FAC as a long term project.

I think it'd be interesting to create an agenda for future development

I'll contact coinok.pw for a faucet (edit: waiting for their twitter answer)

edit#2: Contacted altcoinfaucet

[MinersUnion]

I think it'd be interesting to create an agenda for future development

this

[IUrry]

I contacted Coinhorse, diceroll, bombsweeper, and another casino/roulette (http://l8.lv)

Trying to find some services, but the major problem is that it's hard for them to trust FAC as a long term project.

I think it'd be interesting to create an agenda for future development

I'll contact coinok.pw for a faucet

It seems we have a long way to go.

[y3804]

Here's a sample

Current progress:

Develop distribution system
Complete distribution to all 49750 addresses
Develop FAC Block Explorer
Translate official website to chinese
Create social media accounts + awareness

Future development (bounty available):

Translate the ANN + website to different languages
Develop FAC android wallet
Create a promotional FAC video
Create an online wallet for FAC
Integrate FAC in new games/services

(I left Mintpal and exchanges... I don't think exchanges should belong to development)

On a side note:

MintPal ‏@MintPalExchange 4m
Congratulations to QubitCoin for winning todays vote. We'll be adding the market shortly.

[Morquor]

Here's a sample

Current progress:

Develop distribution system
Complete distribution to all 49750 addresses
Develop FAC Block Explorer
Translate official website to chinese
Create social media accounts + awareness

Future development (bounty available):

Translate the ANN + website to different languages
Develop FAC android wallet
Create a promotional FAC video
Create an online wallet for FAC
Integrate FAC in new games/services

(I left Mintpal and exchanges... I don't think exchanges should belong to development)

On a side note:

MintPal ‏@MintPalExchange 4m
Congratulations to QubitCoin for winning todays vote. We'll be adding the market shortly.

I can translate to Hungarian. If it's worth something.  Not many of us here I think. 

[jamo4000]

Yo Dev !
Look your "MY MESSAGES"

Never receved my bounty for that  -->  https://bitcointalk.org/index.php?topic=500573.0

A problem ?

[y3804]

Dev, I got replies from AltcoinFaucet and Dice Roll. They are both willing to accept FAC. Do you want me to supply them the  necessary information or do you want me to forward their replies to your PM box?

[DailyModo]

we don't need any more BTC into mintpal
we're entering for sure within the next 4 days

what we need is more places to spend the coin.
most of the better stuff requires us to be in a serious exchange,
but with other smaller services it's just a matter of reaching the right people

we have a big pool of unused bounty coins we can spend and want to spend,
please reach out to people you know
we can also tip whoever makes something happen

Exactly what we need BUILD. I just wish we can make this coin a stable coin

which people will be able to use everyday, not only a fast profit coin!

[y3804]

Dev, I got replies from AltcoinFaucet and Dice Roll. They are both willing to accept FAC. Do you want me to supply them the  necessary information or do you want me to forward their replies to your PM box?

Quoting myself,

I sent the required information to both owners. We will be on AltcoinFaucet (and Dice Roll) very soon, I think

Here is reply from Dice Roll owner

abount the bounty i want to tell you that all the bounty goes to the site bank roll (i will not keep any coin for me) so the "max profit per bet" will be higher
to calculate the "max profit per bet" just divide the bounty by 300

regards

(To Fair-cointeam, you will need to send bounty to dice roll). Dice roll demo

Here are the parameters I sent to AltcoinFaucet:

Min-Max payout: 5-15 FAC

Withdrawal limit: 10 FAC

Timeout per giveaway in minutes: 720 minutes

[fair-cointeam]

there is no need for translations right now
working on the website right now, once we're done we'll need some translation but just major languages,
not hungarian/dutch etc

y3804 see pm

[lucienlu]

come on everybody...seem all work well!!

[y3804]

there is no need for translations right now
working on the website right now, once we're done we'll need some translation but just major languages,
not hungarian/dutch etc

y3804 see pm

Alright, I think we need $20USD (in BTC or paypal) to cover the server costs for the faucet.

Still no answer from Dice Roll, but I think he's working on it.

[y3804]

Update: Faucet is online, but we need 0.04BTC to cover server costs. Anyone is up to donate a little bit? I need to answer him ASAP.

http://faircoin.altcoinfaucet.net/

FAC donation address is: fV1gPDt9Fie14MK6rMXRNvUUsSsbd7XS9t see new address

There are currently no coins in the faucet, so don't even try to withdraw.

[kcanup]

Update: Faucet is online, but we need 0.04BTC to cover server costs. Anyone is up to donate a little bit? I need to answer him ASAP.

http://faircoin.altcoinfaucet.net/

FAC donation address is: fV1gPDt9Fie14MK6rMXRNvUUsSsbd7XS9t

There are currently no coins in the faucet, so don't even try to withdraw.

Donation coming for faucet 

Status: 0/unconfirmed, broadcast through 2 nodes
Date: 25/03/2014 00:08
To: fV1gPDt9Fie14MK6rMXRNvUUsSsbd7XS9t
Debit: -1000.00 FAC
Transaction fee: -0.001 FAC
Net amount: -1000.001 FAC
Transaction ID: 1c5c34591ebe272a0aff53dc019f74e6ff91d2242eaa76f4a1bf412f454115f7

[fair-cointeam]

Update: Faucet is online, but we need 0.04BTC to cover server costs. Anyone is up to donate a little bit? I need to answer him ASAP.

http://faircoin.altcoinfaucet.net/

FAC donation address is: fV1gPDt9Fie14MK6rMXRNvUUsSsbd7XS9t

There are currently no coins in the faucet, so don't even try to withdraw.

tell him yes, we'll cover it
0.04 is somewhere around 4000-5000 fac right now, anybody who donates btc can get compensated in fac

[y3804]

Wait a minute, the faucet balance looks weird. 9B??

[Jack Liver]

mining at the poolest