[PRE-ANN] [kFC] Futurecoin|Groestl-Skein-SHA256|IPO end in 1 HOUR!

[Friedman]

k is a prefix it stands for kilo it would be pronounced kilo-FC.

In terms of uniqueness we have Dynamic Block Maturity (Vesting) and 3 Algorithm Mining. Both are described in the main post in more detail. Please do not hesitate to ask more questions, and remember that anon136 is doing escrow if you want it.

Question how it will be known to general populace, although the ticker probably will be less sore on KfC legal team eye.

* 3 mining algos - what good it brings, considering HVC (with 4 algos) was cracked after a week, and currently the price has tanked almost 50% below the IPO level?
* Can you explain in more details the DBM vesting? Is it like IRA or something?

3 mining algos mining currently. That means asic / cpu / gpu can all mine. For example SHA256 and skein both mine at the same time. Difficulty is independent in each algo. We do not claim GPU-proof only that the cost of developing ASICs for the other two non-ASIC algos (groestl and skein) will be cost prohibitive for the short to long term future. This structure means that more people (ASIC/GPU/CPU) can mine, we aim for inclusion not exclusion.

Vesting is done by block reward. The newly mined blocks need to be "vested" for a set period of time before they can be spent (details in main post).

Please reply if this is not clear. I am a programmer not a marketer.

[SyRenity]

3 mining algos mining currently. That means asic / cpu / gpu can all mine. For example SHA256 and skein both mine at the same time. Difficulty is independent in each algo. We do not claim GPU-proof only that the cost of developing ASICs for the other two non-ASIC algos (groestl and skein) will be cost prohibitive for the short to long term future. This structure means that more people (ASIC/GPU/CPU) can mine, we aim for inclusion not exclusion.

Vesting is done by block reward. The newly mined blocks need to be "vested" for a set period of time before they can be spent (details in main post).

Please reply if this is not clear. I am a programmer not a marketer.

Leaving mining aside (as other coins launches have proven it's contribution to final coin value is fairly minimal), can you explain how you see the vesting innovation contributing to coin value?
You don't need to be marketer for that, just explain your own vision, your pitch.

[qiwoman]

Do I still have time to invest this evening? I am just so tired I need a small nap now.

[Friedman]

3 mining algos mining currently. That means asic / cpu / gpu can all mine. For example SHA256 and skein both mine at the same time. Difficulty is independent in each algo. We do not claim GPU-proof only that the cost of developing ASICs for the other two non-ASIC algos (groestl and skein) will be cost prohibitive for the short to long term future. This structure means that more people (ASIC/GPU/CPU) can mine, we aim for inclusion not exclusion.

Vesting is done by block reward. The newly mined blocks need to be "vested" for a set period of time before they can be spent (details in main post).

Please reply if this is not clear. I am a programmer not a marketer.

Leaving mining aside (as other coins launches have proven it's contribution to final coin value is fairly minimal), can you explain how you see the vesting innovation contributing to coin value?
You don't need to be marketer for that, just explain your own vision, your pitch.

The idea is that miners have to hold their coins for a set amount of time. When they hold their coins it will be in their best interest to promote the coin, create services, ..., thus increasing its value. Even miners who mine to immediately dump will be forced to hold and promote if they are mining directly.

Of course there are some miners who will want to have their coins immediately I foresee pools like blackcoinpool to mine other coins and buy vested Futurecoins on the open market and pay out their miners immediately. This also good because it creates buy support.

[Friedman]

Do I still have time to invest this evening? I am just so tired I need a small nap now.

Midnight 4/18 UTC. You have approximately 25 hours as of this posting.

[SyRenity]

The idea is that miners have to hold their coins for a set amount of time. When they hold their coins it will be in their best interest to promote the coin, create services, ..., thus increasing its value. Even miners who mine to immediately dump will be forced to hold and promote if they are mining directly.

Of course there are some miners who will want to have their coins immediately I foresee pools like blackcoinpool to mine other coins and buy vested Futurecoins on the open market and pay out their miners immediately. This also good because it creates buy support.

Just to clarify, IPO'ers are not bound by vesting, and can basically pump and dump (in a worth case scenario) as they wish?

[sus2134]

well I tell all you guys..he is the same person behind neon and edgecoin scams...don't get fooled

[Friedman]

well I tell all you guys..he is the same person behind neon and edgecoin scams...don't get fooled

I am not the same person. What do I need to do to prove that I am legit to you?

[Friedman]

The idea is that miners have to hold their coins for a set amount of time. When they hold their coins it will be in their best interest to promote the coin, create services, ..., thus increasing its value. Even miners who mine to immediately dump will be forced to hold and promote if they are mining directly.

Of course there are some miners who will want to have their coins immediately I foresee pools like blackcoinpool to mine other coins and buy vested Futurecoins on the open market and pay out their miners immediately. This also good because it creates buy support.

Just to clarify, IPO'ers are not bound by vesting, and can basically pump and dump (in a worth case scenario) as they wish?

IPO coins are distributed according to the phase.

Phase 1 - 1 week block maturity - From 4/10 - 4/18
Phase 2 - 2 week block maturity (on par with mined coins) - From 4/19 - 4/25
Phase 3 - 3 week block maturity - From 4/26 - 5/2

Nothing of course can prevent investors from dumping, but I believe that this should at least give the market enough time to build support so that a dump will not affect price too much.

[SyRenity]

I am not the same person. What do I need to do to prove that I am legit to you?

I always suggest any new project to post real video of their new wallet / software, as it much harder to fake (granted AFAIR EDG did fake it...).

[SyRenity]

Furthermore, we insist that investors use escrow. We are considering covering all fees with our own money.

This will be awesome, and only cost you a small sum per investor (pending Annon136 terms of course...).
I'm still not convinced about the coin potential, but impressed by communication, and may participate if you offer this.

[Friedman]

Furthermore, we insist that investors use escrow. We are considering covering all fees with our own money.

This will be awesome, and only cost you a small sum per investor (pending Annon136 terms of course...).
I'm still not convinced about the coin potential, but impressed by communication, and may participate if you offer this.

I've contacted him about this just now. We are also removing the option of direct investment, and are considering moving all currently invested coins into escrow on the behalf of our previous investors. We would like to get approval from said investors first, though.


We will release working wallet including examples of the 3 algorithm mining and block maturity after the graphics work is done. This should be online in the middle of phase 2.

[Friedman]

We have contacted anon136 on the best way to cover escrow fees (out of our own pocket). We want this to be as safe as possible for the investor. We believe that this is the best way to insure everyone uses escrow.

[satty_mutti]

looking good, glad I invested!

and also you can move my investment to escrow.

And you have lost your investments to this scammer

[Rigimon]

looking good, glad I invested!

and also you can move my investment to escrow.

And you have lost your investments to this scammer

We'll see if it's a scam or not. I really hope they are experienced devs and not just a bunch of kids playing around with people's money. I believe in this coin and so do a lot of others, so I don't see why would they scam anyone and not do this something big...?

[Friedman]

looking good, glad I invested!

and also you can move my investment to escrow.

And you have lost your investments to this scammer

You still going to insist we are scammers? We are in the process of removing direct investments and switching to mandatory escrow. We are doing everything we can to mitigate investor risk.

[pseudonymdude]

In for phase 1 at .3 BTC

Transaction ID:
acf92aedb7acb9744af6abe66c9d50e0a04bc220309604c88512630c7d0c4450

[procrastinationtm]

In for phase 1 at .3 BTC

Transaction ID:
acf92aedb7acb9744af6abe66c9d50e0a04bc220309604c88512630c7d0c4450

damn 

[thefuturecoin]

This is our current investor list:



If you do not see yourself on here, please pm me ASAP. We will be sending out private keys soon.

[thefuturecoin]

Phase 1 closes in less than one hour. Due to the public opinion over edgecoin we will be closing direct investments after this point. Escrow will be mandatory. We will cover all applicable fees. We hope to set a model for future crypto-currency IPOs.