[RE-ANN] FAILCoin | This thread will not be followed!

[jacktheking]

Dear FAILers,

Our community manager for China and Greece is qiwoman2 (Twitter: @goldentags). She is the second lady in our team after devvienuis (Manager for Netherlands). I already told you that we have also found manager for Italy and France, but he does not have profile in btctalk and I am waiting him to register pretty soon. About the fork.. I believe that it will be done in a week or so. Probably tomorrow we will have clear vision about final specs of the coin and our dev will continue to work.

Best regards,
Spartak

Can we have a list of manager at the website? Or maybe in the thread? A full list.. I can't keep track if you keep posting and..

[spartak_t]

Dear FAILers,

Our community manager for China and Greece is qiwoman2 (Twitter: @goldentags). She is the second lady in our team after devvienuis (Manager for Netherlands). I already told you that we have also found manager for Italy and France, but he does not have profile in btctalk and I am waiting him to register pretty soon. About the fork.. I believe that it will be done in a week or so. Probably tomorrow we will have clear vision about final specs of the coin and our dev will continue to work.

Best regards,
Spartak

Can we have a list of manager at the website? Or maybe in the thread? A full list.. I can't keep track if you keep posting and..

They will be listed in our new thread and probably in the website. We still need to find managers for Spain and Germany and why not for Japan...

Cheers,
Spartak

[jacktheking]

Dear FAILers,

Our community manager for China and Greece is qiwoman2 (Twitter: @goldentags). She is the second lady in our team after devvienuis (Manager for Netherlands). I already told you that we have also found manager for Italy and France, but he does not have profile in btctalk and I am waiting him to register pretty soon. About the fork.. I believe that it will be done in a week or so. Probably tomorrow we will have clear vision about final specs of the coin and our dev will continue to work.

Best regards,
Spartak

Can we have a list of manager at the website? Or maybe in the thread? A full list.. I can't keep track if you keep posting and..

They will be listed in our new thread and probably in the website. We still need to find managers for Spain and Germany and why not for Japan...

Cheers,
Spartak

Great! I will be looking forward for a new thread! Also.. since you talked about the website, will FailCoin have a new website? I mean.. a new sparking look?

[spartak_t]

Dear FAILers,

Our community manager for China and Greece is qiwoman2 (Twitter: @goldentags). She is the second lady in our team after devvienuis (Manager for Netherlands). I already told you that we have also found manager for Italy and France, but he does not have profile in btctalk and I am waiting him to register pretty soon. About the fork.. I believe that it will be done in a week or so. Probably tomorrow we will have clear vision about final specs of the coin and our dev will continue to work.

Best regards,
Spartak

Can we have a list of manager at the website? Or maybe in the thread? A full list.. I can't keep track if you keep posting and..

They will be listed in our new thread and probably in the website. We still need to find managers for Spain and Germany and why not for Japan...

Cheers,
Spartak

Great! I will be looking forward for a new thread! Also.. since you talked about the website, will FailCoin have a new website? I mean.. a new sparking look?

We still didn't discussed that. At the moment our main goals are the fork and the team behind the coin. After that we can start building FAIL (probably new or at least tweaked website, exchanges, merchants and such)...

[jacktheking]

Too many quote..

Great! I will be waiting for the next version of FailCoin! My FAIL are ready to be exchanged for new FAIL at empoex!

[Mineotaur]

Dear FAILers,


ETA for the fork is 7-10 days. After that EmpoEx will host FAIL swap for 2 weeks. Swap will be made in this way:
1) Person X send 1B coins to EmpoEx
2) Person X receive 250K new FAIL after 2 weeks

That means that total supply of FAIL after the swap (if ALL coins in existence are swapped) will be 19,500,000 coins. The rest of the coins will be burned.

Sorry but cbf to read whole thread. All i need to do is send FAIL to EmpoEx, I then get new coins returned? Should I do so now?

[spartak_t]

Dear FAILers,


ETA for the fork is 7-10 days. After that EmpoEx will host FAIL swap for 2 weeks. Swap will be made in this way:
1) Person X send 1B coins to EmpoEx
2) Person X receive 250K new FAIL after 2 weeks

That means that total supply of FAIL after the swap (if ALL coins in existence are swapped) will be 19,500,000 coins. The rest of the coins will be burned.

Sorry but cbf to read whole thread. All i need to do is send FAIL to EmpoEx, I then get new coins returned? Should I do so now?

Yes, you need to send your FAIL to EmpoEx and receive new within 2 weeks (rate is 1 old FAIL for 0.00025 new). We will probably talk with them again to see if there is possibility for the people to withdraw them earlier. Currently you can send coins to EmpoEx only if you want to sell them, because fork is not ready yet.

[Mineotaur]

Dear FAILers,


ETA for the fork is 7-10 days. After that EmpoEx will host FAIL swap for 2 weeks. Swap will be made in this way:
1) Person X send 1B coins to EmpoEx
2) Person X receive 250K new FAIL after 2 weeks

That means that total supply of FAIL after the swap (if ALL coins in existence are swapped) will be 19,500,000 coins. The rest of the coins will be burned.

Sorry but cbf to read whole thread. All i need to do is send FAIL to EmpoEx, I then get new coins returned? Should I do so now?

Yes, you need to send your FAIL to EmpoEx and receive new within 2 weeks (rate is 1 old FAIL for 0.00025 new). We will probably talk with them again to see if there is possibility for the people to withdraw them earlier. Currently you can send coins to EmpoEx only if you want to sell them, because fork is not ready yet.

Okay cool, thanks. I'll keep checking the thread. Glad it's revived, I mined from hour 1 of release 1, so still have millions of coins afailable. Might buy a few million more too at these prices

[spartak_t]

Okay cool, thanks. I'll keep checking the thread. Glad it's revived, I mined from hour 1 of release 1, so still have millions of coins afailable. Might buy a few million more too at these prices

Glad to have you back.

P.S. I don't know how easy would be to buy few million as we first plan to reduce FAIL to less than 20M (which means that we will premine 20M coins for the swap). I believe that most of the coins will not be swapped, because many people still think that we are joke and probably most of them just deleted their wallets. With that said I expect about 50-70% of all coins to be exchanged on EmpoEx (rest of them will be burned). To tell you the truth, we still don't know what would be exact specifications of FAIL, but we will probably decide by tomorrow.

Cheers,
Spartak

[jacktheking]

Okay cool, thanks. I'll keep checking the thread. Glad it's revived, I mined from hour 1 of release 1, so still have millions of coins afailable. Might buy a few million more too at these prices

Glad to have you back.

P.S. I don't know how easy would be to buy few million as we first plan to reduce FAIL to less than 20M (which means that we will premine 20M coins for the swap). I believe that most of the coins will not be swapped, because many people still think that we are joke and probably most of them just deleted their wallets. With that said I expect about 50-70% of all coins to be exchanged on EmpoEx (rest of them will be burned). To tell you the truth, we still don't know what would be exact specifications of FAIL, but we will probably decide by tomorrow.

Cheers,
Spartak

Dont worry, I will swap my old FailCoin for new FailCoin when it is ready! However, I dont understand what you mean by 'burned old-coin'. Can you explain it to me?

[spartak_t]

Dont worry, I will swap my old FailCoin for new FailCoin when it is ready! However, I dont understand what you mean by 'burned old-coin'. Can you explain it to me?

It means that if we premine 20M from new FAIL, but only 15M are swapped, the rest 5M will be burned (i.e. it will be impossible to be used).

[jacktheking]

Dont worry, I will swap my old FailCoin for new FailCoin when it is ready! However, I dont understand what you mean by 'burned old-coin'. Can you explain it to me?

It means that if we premine 20M from new FAIL, but only 15M are swapped, the rest 5M will be burned (i.e. it will be impossible to be used).

Why is it 'impossible' to use? What if I store them (old FailCoin) in the old wallet?

[spartak_t]

Dont worry, I will swap my old FailCoin for new FailCoin when it is ready! However, I dont understand what you mean by 'burned old-coin'. Can you explain it to me?

It means that if we premine 20M from new FAIL, but only 15M are swapped, the rest 5M will be burned (i.e. it will be impossible to be used).

Why is it 'impossible' to use? What if I store them (old FailCoin) in the old wallet?

It seems that you don't understand me. Currently we have about 80B FAIL mined. If the swap is made at the rate 1 old FAIL for 0.00025 new, this will reduce the coin to 20M initial supply. After that old FAIL will not work so you need to swap all the coins that you have. If we assume that not all FAIL are swapped (let's us say 60B out of 80B are swapped) it will means that FAIL will be with 15M initial supply. That also means that there will be 5M new FAIL left which have to be burned (with provided proof for burning), because some people may think that we will dump them or whatever.

[jacktheking]

Dont worry, I will swap my old FailCoin for new FailCoin when it is ready! However, I dont understand what you mean by 'burned old-coin'. Can you explain it to me?

It means that if we premine 20M from new FAIL, but only 15M are swapped, the rest 5M will be burned (i.e. it will be impossible to be used).

Why is it 'impossible' to use? What if I store them (old FailCoin) in the old wallet?

It seems that you don't understand me. Currently we have about 80B FAIL mined. If the swap is made at the rate 1 old FAIL for 0.00025 new, this will reduce the coin to 20M initial supply. After that old FAIL will not work so you need to swap all the coins that you have. If we assume that not all FAIL are swapped (let's us say 60B out of 80B are swapped) it will means that FAIL will be with 15M initial supply. That also means that there will be 5M new FAIL left which have to be burned (with provided proof for burning), because some people may think that we will dump them or whatever.

I understand the swapping part. What I dont understand is how those coins will be 'burn'.

[spartak_t]

I understand the swapping part. What I dont understand is how those coins will be 'burn'.

Coins will be send to kjvwb2744gvfrwjvrwuvb79gbv (i.e. impossible to use address). Block explorer/s for example will still show that they are 20M in existence, but people will know that 5M of them are not usable.

[Mineotaur]

Is there any way people can exchange their old FAIL in the future? The exchange only runs for two weeks if I'm understanding things, isn't this thread soon going to be filled with disappointed people who didn't get the memo?

[marcoman22]

Is there any way people can exchange their old FAIL in the future? The exchange only runs for two weeks if I'm understanding things, isn't this thread soon going to be filled with disappointed people who didn't get the memo?

There is no need for disappointment.

[PTseller]

Like the name  Well i'm watching this thread will invest once new features comes up

[spartak_t]

Is there any way people can exchange their old FAIL in the future? The exchange only runs for two weeks if I'm understanding things, isn't this thread soon going to be filled with disappointed people who didn't get the memo?

We first decided to run the swap for 1 month, but that means:
a) people should wait 1 month to receive their new FAIL
b) 2 weeks delay of our work

We will constantly post here, on Facebook and on Twitter that FAIL is forked and people must swap their coins.

Your concerns are right, because:

- Some people may postpone the time for the swap and their coins will be useless.

Our timing is right, because:

- If someone has some FAIL coins, is involved in cryptocurrencies and didn't swap his coins for 2 weeks - it's his fault.

I believe that there are many people who either dumped their FAIL or stop following our thread, but that again is not our fault - it's their decision.

Cheers,
Spartak

[spartak_t]

Like the name  Well i'm watching this thread will invest once new features comes up

The name is unique in cryptoworld.. no matter that many people think we are joke. I don't know about features though. We will surely work on some (we will start a discussion to ask FAILers what they want to see as feature in FAIL), but it will probably take months (i.e. no ETA's). I've seen enough coins with fancy roadmaps and whitepapers, but those are pure bs to me. Imho the most important thing for one coin is to have dedicated team, strong community, constant marketing and clear vision for the future.

Cheers,
Spartak