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

[spartak_t]

Hey FAILers,

I just received e-mail from our lead dev.. It seems that we will have some actions by Sunday at the most.

Regards,
Spartak

[jacktheking]

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.

What if I dont send my old FailCoin to the address? They remain in my old FailCoin wallet - my computer.

[spartak_t]

What if I dont send my old FailCoin to the address? They remain in my old FailCoin wallet - my computer.

Burning is not affecting your coins at all. You just need to swap your old FAL for new and that's it.

[jacktheking]

What if I dont send my old FailCoin to the address? They remain in my old FailCoin wallet - my computer.

Burning is not affecting your coins at all. You just need to swap your old FAL for new and that's it.

I mean.. what if.. I dont want to swap my old coin for new coin. What can you do to people like me? Just an example. - I will be swaping my FailCoin. No worry.

[spartak_t]

I mean.. what if.. I dont want to swap my old coin for new coin. What can you do to people like me? Just an example. - I will be swaping my FailCoin. No worry.

I really can't understand your question. FAIL will stay FAIL, but it will be reduced (denominated).

[jacktheking]

I mean.. what if.. I dont want to swap my old coin for new coin. What can you do to people like me? Just an example. - I will be swaping my FailCoin. No worry.

I really can't understand your question. FAIL will stay FAIL, but it will be reduced (denominated).

Never mind. When new FailCoin is up, you should be able to understand (and answer) what I'm not understanding.

[johnywalker]

Respected community, we would like to remind you that FAILCoin is traded on Comkort exchange.
We will be happy to see you.

Three markets are live FAIL <-> BTC, LTC, DOGE.

Best buy prices:
0.00021005 DOGE per 1 FAIL - DOGE market

Happy & Profitable Trading!

[spartak_t]

Respected community, we would like to remind you that FAILCoin is traded on Comkort exchange.
We will be happy to see you.

Three markets are live FAIL <-> BTC, LTC, DOGE.

Best buy prices:
0.00021005 DOGE per 1 FAIL - DOGE market

Happy & Profitable Trading!

Few weeks ago we tweeted constantly about your exchange, but we are currently working on new FAILCoin and that is why we are not promoting it at the moment. Good luck to your exchange though. I think you deserve more attention.

Regards,
Spartak

[spartak_t]

Dear FAILers,

I asked friend of mine to draw new logo for FAIL. Here it is:



We will use that one, because it is better than previous versions and some people already liked it.

P.S. I am talking with our dev as we speak. Soon there will be some news about the fork.

Stay FAILed!

Regards,
Spartak

[spartak_t]

Dear FAILers,

After another discussion we decided to use following specifications on FAIL:

FAILCoin final* specs:

Algorithm: Scrypt + SHA 256(Hybrid PoW/PoS)
Total supply: 80,000,000 after about 101 years
Block reward: 12 FAIL
Coinbase maturity: 50 blocks
Target spacing: 60 seconds
Halving POW block: 525,600 (about 365 days)
Block reward after 1,051,200 blocks (2 years): 3 coins for about 28 years
PoS interest: 3% per year
Min stake age: 8 hours
Max stake age: none
Premine for Swap: 20M

Supply:

1 year: 26,496,416 coins in total
2 years: 29,744,624 coins in total
2-30 years: 75,219,536 coins in total
30-101 years: 80,000,000 in total (about 47,304 coins/year from PoS interest)

* We have set ETA for 4th of February. Our dev will test combination with scrypt + sha + PoS, but if he does not find a solution until 4th of February, we will use only scrypt algo. SHA and GPU miners will be able to mine FAIL on the multipool who will be launched right/or soon after the swap.

As we already said, EmpoEx agreed to host the swap for 2 weeks. This is how it will be done:

1) Rate is 1 old FAIL for 0,00025 new FAIL.
2) John sends 1,000,000,000 (1 billion) old FAIL to EmpoEx and they will send him 250,000 new FAIL after 2 weeks.
3) All people who swap their FAIL will receive new coins right/or soon after the 14th day of the swap.

Best regards,
Spartak

[spartak_t]

Dear FAILers,

Just wanted to warn you about new ransomware virus called CTB-Locker! I am dealing with one infected PC for 2 days with no luck whatsoever. The virus encrypts your documents and photos and demands for ransom (usually more than $300 (some people were asked for $800+) which may be paid in bitcoin as well). Currently there is NO WORKING solution of the problem, which means that you MUST pay the ransom in order to restore your files. Many people reported that they have paid and restored their files. Removing the virus is pretty easy, but the problem with encrypted files remains. That is why be EXTREMELY cautious when you are receiving suspicious e-mails or links.

Regards,
Spartak

[Mineotaur]

Dear FAILers,

Just wanted to warn you about new ransomware virus called CTB-Locker! I am dealing with one infected PC for 2 days with no luck whatsoever. The virus encrypts your documents and photos and demands for ransom (usually more than $300 (some people were asked for $800+) which may be paid in bitcoin as well). Currently there is NO WORKING solution of the problem, which means that you MUST pay the ransom in order to restore your files. Many people reported that they have paid and restored their files. Removing the virus is pretty easy, but the problem with encrypted files remains. That is why be EXTREMELY cautious when you are receiving suspicious e-mails or links.

Regards,
Spartak

Appreciate the warning... and I hope everyone backs up their wallets and other stuff you can't afford to lose, on external media. That way you can just format, reinstall on a clean O.S, then send to a new wallet for safety's sake... and stick two fingers up to the filthy thieving scumbags.
Even if I hadn't backed up all my files, I'd rather lose everything than pay a single satoshi to these dickheads.

[_kit]

Dear FAILers,

After another discussion we decided to use following specifications on FAIL:

FAILCoin final* specs:

Algorithm: Scrypt + SHA 256(Hybrid PoW/PoS)
Total supply: 80,000,000 after about 101 years
Block reward: 12 FAIL
Coinbase maturity: 50 blocks
Target spacing: 60 seconds
Halving POW block: 525,600 (about 365 days)
Block reward after 1,051,200 blocks (2 years): 3 coins for about 28 years
PoS interest: 3% per year
Min stake age: 8 hours
Max stake age: none
Premine for Swap: 20M

Supply:

1 year: 26,496,416 coins in total
2 years: 29,744,624 coins in total
2-30 years: 75,219,536 coins in total
30-101 years: 80,000,000 in total (about 47,304 coins/year from PoS interest)

* We have set ETA for 4th of February. Our dev will test combination with scrypt + sha + PoS, but if he does not find a solution until 4th of February, we will use only scrypt algo. SHA and GPU miners will be able to mine FAIL on the multipool who will be launched right/or soon after the swap.

As we already said, EmpoEx agreed to host the swap for 2 weeks. This is how it will be done:

1) Rate is 1 old FAIL for 0,00025 new FAIL.
2) John sends 1,000,000,000 (1 billion) old FAIL to EmpoEx and they will send him 250,000 new FAIL after 2 weeks.
3) All people who swap their FAIL will receive new coins right/or soon after the 14th day of the swap.

Best regards,
Spartak

Hi, is the coin swap still starting today?

[spartak_t]

Hi, is the coin swap still starting today?

Hello,

Not exactly. ETA was for the final coin specifications. I already contacted the dev and I'm waiting him to answer. If everything goes fine I believe that the swap should start within 1 week or so.

Cheers,
Spartak

[spartak_t]

Hey FAILers,

Just received an answer from our lead developer. He gave me some updates, but we need to discuss them tomorrow, because he does not have time right now. We will keep you updated.

Regards,
Spartak 

[spartak_t]

Dear FAILers,

I will talk with our lead developer in about 6 to 8 hours, we will finish the work on new source in the next few days and hopefully the swap on EmpoEx will start sometime next week. We both will probably be AFK for the next 2 days, because we both have birthdays tomorrow.

Stay FAILed!

Regards,
Spartak

[franckuestein]

Dear FAILers,

We are looking for DEDICATED community managers for China, Japan, Germany, Italy, Spain and France. Everyone of them will receive somewhere between 0.1 - 0.5% of the entire FAILCoin currency (we will discuss it in private conversations). Their obligations will be to translate our thread (new thread will be launched after swap) to one of those languages, follow it, respond to questions/posting news on the given native language. If you have some friend/s who meets our criteria, please sent PM to me. People who find our community managers will be rewarded too.

P.S. We are also looking for skilled designer! Bounty again will be discussed with PM's.

Cheers,
Spartak

@spartak_t, message sent to your bitcointalk inbox! 
I've been following FAIL since long time ago, so... if it's necessary I can help a little bit the project.

Looking forward to your response!

[HarryPotHead]

Failcoin needs to be forked, i have to imagine it failed 

 Surprising 

[ronald98]

Failcoin needs to be forked, i have to imagine it failed 

 Surprising 

Hopefully fail coin 2.0 will not be a fail.

[spartak_t]

Failcoin needs to be forked, i have to imagine it failed 

 Surprising 

Hello,

FAIL will be forked, because there is lack of interest in LTC pairs, not because it really failed. Other thing is that we didn't have developer support and therefore - we didn't talked with bigger exchanges to list us. A guy from Bittrex (I will not say his name) can confirm that I talked with him months ago (they still had LTC pair) and I said him: "Hey, can you consider listing FAIL on Bittrex when we look better (i.e. have coders)?" and his answer was positive. We also don't want to lie people! After that we talked with many developers, but some of them turned to be scammers, others wasn't interested. One of our main differences from most of the coins is that we will be here for years ahead - no matter what is the current price and who is laughing. Many people are saying: "What do you expect? The coin is named FAIL and its doomed!", but guess what? 90% of those people are investing in coins which eventually are dead in less than a month. FAIL is still here! FAILCoin can really have pretty good future and sooner or later we believe that many people will see its potential as a currency. Those people will understand (or already know) that real profit can be made when you are persistent. What do you expect to happen after let's say 2 years with so many coins popping up each day? Little by little people are not interested, marketcap is shrinking and at the end - few coins will last. Coins with pretty high volume which will kill most of the pumpers too. We can't just launch coin after coin and expect to make real profits. Yes, at the moment you still have the chance to make fast 1-2-5-100 BTC (that is the goal of almost everybody.. to exchange their currency for BTC and go away), but so what? At the end there will be nothing to make profit of. Many people already gave up on cryptos. Big percentage of them are ordinary people who don't have much money and some may say: "So what? Its normal to be eaten by a shark in business.", but here's the thing - those people were building communities. I might be wrong, but I think that DOGE is the best example of that. Ordinary people liked it, creator refused to sell it and eventually some big investors appeared. Now most of those people are either disgusted or just gone. FAIL found its coders (and will continue to look for more) and its managers (every one of them is good and honest person!). Now we are going to work hard to build strong network and community. Those 2 things are vital for every coin. After that - sky is the limit.

P.S. Something like announcement to all: We decided that its best for FAIL to use only scrypt algo. Miners with SHA or GPU's can mine it on our multipool. ETA for the fork is 12th February. We really tried to make it multi-algo, but there can be many flaws and we want to avoid them.
P.S.2. Happy birthday to me and our lead dev.

Cheers,
Spartak