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Author Topic: [ANN] FIMK: 2.5G POS, extra block rewards, messaging, asset colors, p2p shopping  (Read 178057 times)
noashh
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July 07, 2014, 06:01:28 PM
 #641

Made a Facebook Fanpage @ https://www.facebook.com/FIMKrypto

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July 07, 2014, 06:10:05 PM
 #642

hi dev, what are the future plans? what are the marketing plans? How you intend to spend the BTCs from IPO?
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July 07, 2014, 06:10:32 PM
 #643

@dance
Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?

Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
I'm not really understanding you.

For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.

170,000,000 addition will be given to us in the first year.

And amounts of these additions will have the same proportions as our initial stakes.

You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.
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July 07, 2014, 06:13:31 PM
 #644

Made a Facebook Fanpage @ https://www.facebook.com/FIMKrypto

Nice work. Would you consider transferring access rights to Krypto FIN ry. for us to effectively be able to use the particular account for promotion, announcements and related things please?

         
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noashh
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July 07, 2014, 06:15:04 PM
 #645

Made a Facebook Fanpage @ https://www.facebook.com/FIMKrypto

Nice work. Would you consider transferring access rights to Krypto FIN ry. for us to effectively be able to use the particular account for promotion, announcements and related things please?

Sure

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gvans
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July 07, 2014, 06:30:29 PM
 #646

@dance
Actually with FIMK model the total would be accordingly to previous example calculation 200 000 fixed.
and 100 000 from the beginning in circulation. Right?

Total FIMK in Genesis block: 666,280,000
Genesis block stakeholder funds: 333,140,000
I'm not really understanding you.

For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.

170,000,000 addition will be given to us in the first year.

And amounts of these additions will have the same proportions as our initial stakes.

You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.

No worries I'm not here to argue, not at all. It's more like I'm trying to get my head around how this works. I did correct my calculation so that the initial distribution is half of the total as it is in FIMK https://bitcointalk.org/index.php?topic=633304.msg7721274#msg7721274
But I will take the facepalm if I'm wrong Cheesy

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★ [ORA] LOGO  ★ [NEM] LOGO  ★ [NXT] MONOLITH  ★ [EXO] LOGO  ★ [FIMK] LOGO  ★ [NODE] LOGO
Primitive
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July 07, 2014, 06:33:35 PM
 #647

Made a Facebook Fanpage @ https://www.facebook.com/FIMKrypto

Nice work. Would you consider transferring access rights to Krypto FIN ry. for us to effectively be able to use the particular account for promotion, announcements and related things please?

Sure

Yes, I think it could cause confusion if this Facebook page is not maintained by the Devs (because of the exact fb url /Fimkrypto)

NEM, LSK, STRAT
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July 07, 2014, 07:00:05 PM
 #648

I'm not really understanding you.

For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.

170,000,000 addition will be given to us in the first year.

And amounts of these additions will have the same proportions as our initial stakes.

You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.

That's true under the assumption that all coins are forging 24/7 the whole year (and we now that there is ~20M in accounts owned by the developers, not sure if they are forging). We know that from 1-10-2014 onward 100 FIMK/month will be distributed to Finnish citizens who have opted-in (if it turns out a major success the funds (313M) will be deplete very quickly, 5 400 000 people in Finland, ~83% = 15+, if 5% opt-in, ~22M/month as basic income), this alters the rate also.

Currently sampling the growth rate, which till now is much higher (from my perspective at least)...  Wink
dance
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July 07, 2014, 07:10:45 PM
 #649

I'm not really understanding you.

For me it is easy to think like that:
We all received 300,000,000 coins in amounts according to our stakes.

170,000,000 addition will be given to us in the first year.

And amounts of these additions will have the same proportions as our initial stakes.

You payed for 30,000 coins initially - you will receive 17,000 at the end of the year.
You payed for 3,000,000 coins - you will receive 1,700,000 at the end of the year.

That's true under the assumption that all coins are forging 24/7 the whole year (and we now that there is ~20M in accounts owned by the developers, not sure if they are forging). We know that from 1-10-2014 onward 100 FIMK/month will be distributed to Finnish citizens who have opted-in (if it turns out a major success the funds (313M) will be deplete very quickly, 5 400 000 people in Finland, ~83% = 15+, if 5% opt-in, ~22M/month as basic income), this alters the rate also.

Currently sampling the growth rate, which till now is much higher (from my perspective at least)...  Wink

Yes, my model is simplified.
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July 07, 2014, 07:18:27 PM
 #650


No worries I'm not here to argue, not at all. It's more like I'm trying to get my head around how this works. I did correct my calculation so that the initial distribution is half of the total as it is in FIMK https://bitcointalk.org/index.php?topic=633304.msg7721274#msg7721274
But I will take the facepalm if I'm wrong Cheesy

Now I see where are you wrong.
There is no 1% interest.
There is only 200 fimk per block (plus transaction fees).

So 1st day A received 1 coin because he owns 0.1%
And the 2nd and all others days he will be receiving 1 coin because he still owns 0.1%

B will be receiving his 100 each day respectively.
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July 07, 2014, 07:33:50 PM
 #651

What about creating or being added to a pool? I mean not a multipool, but something like nxtio.org
So that holders who can't have their computers be turned on 24/7 will be still receiving rewards?
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July 07, 2014, 07:57:07 PM
 #652

Someone with good math, please do a simple form (excel or what ever) where you can enter your balance and it will give you the average first year forged amount. Assuming all the available coins are forging (not devs reserve coins). Would be useful!

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July 07, 2014, 08:04:41 PM
 #653

Someone with good math, please do a simple form (excel or what ever) where you can enter your balance and it will give you the average first year forged amount. Assuming all the available coins are forging (not devs reserve coins). Would be useful!
forged = 200 * 2880 * 365 * balance / 333000000
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July 07, 2014, 08:07:09 PM
 #654

Someone with good math, please do a simple form (excel or what ever) where you can enter your balance and it will give you the average first year forged amount. Assuming all the available coins are forging (not devs reserve coins). Would be useful!

I already have made such a form (excel sheet), very simple model, for 308 days all coins are forging, new coins distributed as rewards and as basic income and not being taken nto consideration (would be a nice add on..):

https://docs.google.com/spreadsheets/d/1UlwziOljobc3ro9p-Cdr6YsqCiwvoTQsWHsQWE-3HSc/edit?usp=sharing
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July 07, 2014, 08:22:25 PM
 #655

Faucet at http://jaft.tk/faucet
Finnish language faucet: http://jaft.tk/faucet/fin
FIMK number game: http://jaft.tk/numbergame

And a new simple automated exchange is being developed at http://jaft.tk

-From an unofficial FIMK developer
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July 07, 2014, 08:31:01 PM
 #656


Fantastic! Thanks. So basically roughly around 500 days anyone forging with any amount would double her/his initial stake.
And I was wrong originally, you can not calculate it as interest so it is not cumulative in that sense. Facepalm, let me have it Grin

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July 07, 2014, 09:54:13 PM
 #657

Fantastic! Thanks. So basically roughly around 500 days anyone forging with any amount would double her/his initial stake.
And I was wrong originally, you can not calculate it as interest so it is not cumulative in that sense. Facepalm, let me have it Grin

I think it's a fair 1st-order approximation, but a more precise model would take into account the total number of coins forging (which is growing as they are rewarded) and also after about 90 days the basic income distribution will start, and we can only guess at how popular this will be.

Is there some way the number of coins which are forging can be deduced in (semi) real-time?
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July 07, 2014, 10:43:01 PM
 #658

A possible bug report - when using hosted FIMK to forge, and logging out then in again, I see "not forging" (I do see new forged amounts).
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July 08, 2014, 06:16:12 AM
 #659


Fantastic! Thanks. So basically roughly around 500 days anyone forging with any amount would double her/his initial stake.
And I was wrong originally, you can not calculate it as interest so it is not cumulative in that sense. Facepalm, let me have it Grin
It can't be 500 days. This spreadsheet is wrong. Smiley

Quote
   • 333,14 million FIMK distributed to stakeholders (you can be one) by Jul 1st 2014

    • 333,72 million FIMK distributed as block rewards during ~4 years after launch

FORGER_FEE_STAGE 1: 200 (DAY 0 to DAY 308)
FORGER_FEE_STAGE 2: 100 (DAY 309 to DAY 618)
FORGER_FEE_STAGE 3: 50 (DAY 619 to DAY 928)
FORGER_FEE_STAGE 4: 25 (DAY 929 to DAY 1238)

TOTAL FEE STAGE 1 177984000
TOTAL FEE STAGE 2 88992000
TOTAL FEE STAGE 3 44496000
TOTAL FEE STAGE 4 22248000
So, if not talking about citizens distribution, amount will _double_ only after 1238 days.
But, after 308 days amount will be multiplied by (333+178)/333=1.53
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July 08, 2014, 08:17:36 AM
 #660

So, if not talking about citizens distribution, amount will _double_ only after 1238 days.
But, after 308 days amount will be multiplied by (333+178)/333=1.53

Yes, true. I made this visible in a second sheet (first 308 days only), which can be found here:
https://docs.google.com/spreadsheets/d/1n5kEzl2iejum6n8euqaAqVtXa5KSXdQGChsiT1ypl_c/edit?usp=sharing
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