[ANN] [FRAC] Fractalcoin | **Added to Cryptsy** | X11 | Slingshield | % fees

[miningpoolhub]

Fractalcoin Mining Pool Hub

http://fractalcoin.miningpoolhub.com


- You can set mining coin on webiste to switch immediately.
- Auto profit switching is available.
- Auto exchange to alt coin like payout to Fractalcoin is possible too
- 1% Fee
- PPLNS

Come and mine together!

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[CDarvin81]

Fractalcoin Mining Pool Hub

http://fractalcoin.miningpoolhub.com


- You can set mining coin on webiste to switch immediately.
- Auto profit switching is available.
- Auto exchange to alt coin like payout to Fractalcoin is possible too
- 1% Fee
- PPLNS

Come and mine together!

thats cool, i mine look what i get => demand

[hokus_pokus]

There are only 705,692 coins in circulation with 1,000,000 total coins. Price is freaking cheap right now IMO

[J.Pinkman]

dev is alive?

[SkunkMonkey]

Yes, we are still alive. Fractalcoin isn't putting food in our mouth or paying the bills so we have jobs that take up our time. We also have personal lives offline that we need to attend to.

earlz is always on the lookout for new things and evaluates whether or not he wants to add them to FractalCoin. As we have stated many times before, we do not feel a coin needs to constantly have new features added. At some point you need to allow the coin to stabilize.

Rest assured, we have not abandoned this coin like all the other shitcoins and scamcoins. We want this coin to succeed as much as the next person.

Cheers!
Skunky

[J.Pinkman]

ok, good news!

[luckydag]

with this price, how can coinwarz list Frac, slingshield not enough.

[magrospic]

with this price, how can coinwarz list Frac, slingshield not enough.

The world is not enough

[Battareus]

add some pos, and price goes up

[earlz]

Hello, I wanted to give a general development update. I've been extremely busy with some other matters so I haven't had nearly as much time to work on Fractalcoin. However, this does not mean we've abandoned it or anything like that.

So, we have long held that pure PoW is what we intend Fractalcoin to be, but we also understand the network security concerns at this point with low rewards. So, we are considering if switching to PoS would be a worthwhile thing to do.

First of all, PoS would have to be ported to Fractalcoin, which is based on Bitcoin 0.9. This would require significant effort, but is definitely possible in a reasonable timespan of 1-2 months. Secondly, by switching to PoS we would still be maintaining a zero-inflation economy. Instead of stakes accruing yearly interest and such, they would instead accrue a part of the percentage based fees. This has to be checked to ensure it is compatible with PoS and is immune to any exploits(if done naively, creating many small stakes would gain more than one large stake, for example). And finally, we must ensure that the community (ie you guys) would be supportive of the idea.

So, what do you think? How would you feel about Fractalcoin switching to a specialized PoS form of mining and network security?

Whilst we're considering PoS as a potential feature to implement, we have not fully decided that this is the path that we're going to take, we're simply consulting with the community to see if this is a path that they're interested in. We are open to other suggestions however.

For reference, our pros/cons list so far:

Pros:

• Would ensure a greater level of network security
• Would reward stake holders that do not own mining equipment

Cons:

• PoS can encourage hoarding
• PoS commonly has more network consensus problems than PoW
• PoS would require significant development time

[hokus_pokus]

Hello, I wanted to give a general development update. I've been extremely busy with some other matters so I haven't had nearly as much time to work on Fractalcoin. However, this does not mean we've abandoned it or anything like that.

So, we have long held that pure PoW is what we intend Fractalcoin to be, but we also understand the network security concerns at this point with low rewards. So, we are considering if switching to PoS would be a worthwhile thing to do.

First of all, PoS would have to be ported to Fractalcoin, which is based on Bitcoin 0.9. This would require significant effort, but is definitely possible in a reasonable timespan of 1-2 months. Secondly, by switching to PoS we would still be maintaining a zero-inflation economy. Instead of stakes accruing yearly interest and such, they would instead accrue a part of the percentage based fees. This has to be checked to ensure it is compatible with PoS and is immune to any exploits(if done naively, creating many small stakes would gain more than one large stake, for example). And finally, we must ensure that the community (ie you guys) would be supportive of the idea.

So, what do you think? How would you feel about Fractalcoin switching to a specialized PoS form of mining and network security?

Whilst we're considering PoS as a potential feature to implement, we have not fully decided that this is the path that we're going to take, we're simply consulting with the community to see if this is a path that they're interested in. We are open to other suggestions however.

For reference, our pros/cons list so far:

Pros:

• Would ensure a greater level of network security
• Would reward stake holders that do not own mining equipment

Cons:

• PoS can encourage hoarding
• PoS commonly has more network consensus problems than PoW
• PoS would require significant development time

While I'm not a huge fan of PoS coins..This would be a totally different PoS coin based on percentage based fees. Almost like "Proof of Fee" PoF 
See if it can be done. I think this would only add to the innovation of FractalCoin

Thanks for the update earlz

[magrospic]

Hello, I wanted to give a general development update. I've been extremely busy with some other matters so I haven't had nearly as much time to work on Fractalcoin. However, this does not mean we've abandoned it or anything like that.

So, we have long held that pure PoW is what we intend Fractalcoin to be, but we also understand the network security concerns at this point with low rewards. So, we are considering if switching to PoS would be a worthwhile thing to do.

First of all, PoS would have to be ported to Fractalcoin, which is based on Bitcoin 0.9. This would require significant effort, but is definitely possible in a reasonable timespan of 1-2 months. Secondly, by switching to PoS we would still be maintaining a zero-inflation economy. Instead of stakes accruing yearly interest and such, they would instead accrue a part of the percentage based fees. This has to be checked to ensure it is compatible with PoS and is immune to any exploits(if done naively, creating many small stakes would gain more than one large stake, for example). And finally, we must ensure that the community (ie you guys) would be supportive of the idea.

So, what do you think? How would you feel about Fractalcoin switching to a specialized PoS form of mining and network security?

Whilst we're considering PoS as a potential feature to implement, we have not fully decided that this is the path that we're going to take, we're simply consulting with the community to see if this is a path that they're interested in. We are open to other suggestions however.

For reference, our pros/cons list so far:

Pros:

• Would ensure a greater level of network security
• Would reward stake holders that do not own mining equipment

Cons:

• PoS can encourage hoarding
• PoS commonly has more network consensus problems than PoW
• PoS would require significant development time

While I'm not a huge fan of PoS coins..This would be a totally different PoS coin based on percentage based fees. Almost like "Proof of Fee" PoF 
See if it can be done. I think this would only add to the innovation of FractalCoin

Thanks for the update earlz

Agree - fee based PoS (or PoF) sounds like an original innovation so I can't see why not. Appreciate that it would probably take significant development time so ultimately up to you guys

[fonzerrellie]

+1 on the "proof of fee" idea, I'm only holding a small amount from mining and have bought a few when I can, keep innovating and persistence will pay off, I've been shocked at how cheap frac has become on the markets and how low the volume is now... but seems like every day the front page of bitt is all new newb account coins, every newb coin that burns people is a chance that some of those people will be looking for a solid coin, so keeping up with the twitter and such is good it's always good to remind people.

[notsofast]

Modified Proof of Stake to reward fee percentages sounds like a more easily adoptable idea.

I've learned a lot since Frac's launch day and one thing I've learned is that widespread distribution is an altcoin's only hope to escape the almost immediate price, hashrate, and interest decay. Confining Frac to permanent PoW is great in theory but its target audience is profit-maximizing miners who always have a better (and also better-defined due to Conwarz) coin to mine for profits.

If it's switched to PoS suddenly each wallet holder has the choice to hoard for stake or develop spending. It's much easier to target computer/wallet owners than miners.

I recognize this is a huge amount of work to do on the coin. I'll support it however I can!

[shadow_hotdog]

Two different devs; same EXCUSES. If you are going to premine, then be responsible with the coin.

I feel sad for those who are still holding......

The devs probably don't need to change FRAC to POS. I don't think the problem is a technical one, but rather confidence.

Please show us your determination. BUY YOUR OWN CRAP on exchange with your own HARD-EARNED CASH, post the video of you buying it, publish the holding address in the original post and NEVER SELL. If this coin goes down, you people need to go down with it.

Since you all like to be analytical and write confusing posts, I'll give you a Chinese proverb to start with.

破釜沉舟

Put this proverb in the title of the video too and show us how much you are determined.

This may be true of copycat coins, which is most cryptos, but I got into fractal because of its innovations and such coins behave differently in my experience.
It's true fractal may never get the traction it needs, but if it does slingshield and the percentage-fees will ensure that the risk was more than worth it, IMO anyway.
To me it's a good investment, possibly because in the past I've done quite well buying innovative coins that nobody wanted, that later became extremely popular.

But everybody has to make up their own mind and I totally understand that.

I'm not talking about pump and dump. You need money to get the economy flowing.

For your information I invested into that first Japanese meme coin back in Feb when nobody wanted it; sold in March pump, bought back in June and rode the recent pump in July. It has no innovation but the services developed around it were very promising.

I respect your keen sense with innovations, however.

[earlz]

Two different devs; same EXCUSES. If you are going to premine, then be responsible with the coin.

I feel sad for those who are still holding......

The devs probably don't need to change FRAC to POS. I don't think the problem is a technical one, but rather confidence.

Please show us your determination. BUY YOUR OWN CRAP on exchange with your own HARD-EARNED CASH, post the video of you buying it, publish the holding address in the original post and NEVER SELL. If this coin goes down, you people need to go down with it.

Since you all like to be analytical and write confusing posts, I'll give you a Chinese proverb to start with.

破釜沉舟

Put this proverb in the title of the video too and show us how much you are determined.

This may be true of copycat coins, which is most cryptos, but I got into fractal because of its innovations and such coins behave differently in my experience.
It's true fractal may never get the traction it needs, but if it does slingshield and the percentage-fees will ensure that the risk was more than worth it, IMO anyway.
To me it's a good investment, possibly because in the past I've done quite well buying innovative coins that nobody wanted, that later became extremely popular.

But everybody has to make up their own mind and I totally understand that.

I'm not talking about pump and dump. You need money to get the economy flowing.

For your information I invested into that first Japanese meme coin back in Feb when nobody wanted it; sold in March pump, bought back in June and rode the recent pump in July. It has no innovation but the services developed around it were very promising.

I respect your keen sense with innovations, however.

I'm sorry but none of us devs are sitting on a mountain of gold with which to pump artificially. We each are holding a semi-significant amount on the exchange, and the premine for each of us is still intact.

Not all coin developers have enough money to quit their job, focus only on the coin, and also have enough money to put significant amounts of money in the market. Also, even if we hit the top 10 market cap level, cashing out our premine would still only be around $50,000 for each of us. That's enough to allow each of us to live for about a year. If you think being an honest coin developer is at all profitable, you'd be wrong.

[MyFarm]

Hello, I wanted to give a general development update. I've been extremely busy with some other matters so I haven't had nearly as much time to work on Fractalcoin. However, this does not mean we've abandoned it or anything like that.

Earlz,

First, thank you for your continued commitment to Fractalcoin.  It means a lot to me as an investor.  Thoughts:

1.  Our current issue with network security is a function of price.  If the price of FRAC was high then network hash rate would be higher as more miners competed for the single FRAC per block as well as the fees.  As the price of FRAC is low, they go elsewhere and we are stuck in a downward spiral.

2.  Slingshield, percentage based fees, and you setting us up to take advantage of future bitcoin innovations is brilliant.  You've done an excellent job with this coin and are to be commended.  As we all know, the current price is not a valid representation of the innovation of this coin.  However, you can't argue with the market.  It is what it is.  We can sit around waiting for a large coin to get hit with a 51% attack at which point I think FRAC would get on people's radar or we can adapt.  It appears to me that you're choosing to adapt which I think is smart.

3.  While I like your idea of porting POS to FRAC to strengthen network security, I think it will result in a more secure coin that remains lacking in value.  I see it securing the network but don't see it exciting people to where they will invest in FRAC.  It's just not what the market wants right now.  Unfortunately, history is littered with brilliant innovations that the market simply wouldn't support at that point in time and I'd hate to see FRAC be added to that list.

4.  Like it or not, coins need marketing.  Earlz, you're a brilliant coder, but this coin also needs marketing.  For your innovations to not be adopted because this coin doesn't play to the masses would be sad in my opinion.  And like it or not, anonymity is king right now.  I know you don't see great value in anonymity, but THE MARKET does.  If you were to adopt work towards anonymity, your brilliant innovations can also be adopted which is what really matters.  Allow for anonymity as your means to get your true innovations adopted.

How?

A.  Think of this title: "[ANN] [FRAC] Fractalcoin: The most secure anonymous coin - 71% security with Slingshield" --- Suddenly, we're a more secure Darkcoin.  We're anonymous, we have a brilliant developer, and we have Slingshield.  That right there makes me want to buy the hell out of this coin.  Heck, announce something like this and I buy every FRAC I can up to 0.0002 (I'd take it to .0003 but don't want to be too greedy as others need to be able to purchase the coin cheap) as fast as I can and the network becomes stronger.

B.  Which kind of anonymity you use is up to you.  Nodes like Darkcoin, ring signatures like Monero.  Your own innovation.  It doesn't matter.  Announce a move towards anonymity and we surge and secure the network.  Achieve anonymity with Slingshield and this is a $XXX,XXX,XXX coin in my opinion.  And from there, you can continue to innovate as you see fit or let the coin settle as Skunkmonkey mentioned.

C.  Make a move towards anonymity and I'll donate 10,000 FRAC to the developers to split amongst yourselves as you see fit as I know it would be a lot of work and you guys deserve a larger reward if you undertake this.

Network security is a function of price.  Rather than secure a cheap coin, let's improve price so it secures itself and the innovations are put to proper use.

Just my thoughts as a successful altcoin investor.

[earlz]

Hello, I wanted to give a general development update. I've been extremely busy with some other matters so I haven't had nearly as much time to work on Fractalcoin. However, this does not mean we've abandoned it or anything like that.

Earlz,

First, thank you for your continued commitment to Fractalcoin.  It means a lot to me as an investor.  Thoughts:

1.  Our current issue with network security is a function of price.  If the price of FRAC was high then network hash rate would be higher as more miners competed for the single FRAC per block as well as the fees.  As the price of FRAC is low, they go elsewhere and we are stuck in a downward spiral.

2.  Slingshield, percentage based fees, and you setting us up to take advantage of future bitcoin innovations is brilliant.  You've done an excellent job with this coin and are to be commended.  As we all know, the current price is not a valid representation of the innovation of this coin.  However, you can't argue with the market.  It is what it is.  We can sit around waiting for a large coin to get hit with a 51% attack at which point I think FRAC would get on people's radar or we can adapt.  It appears to me that you're choosing to adapt which I think is smart.

3.  While I like your idea of porting POS to FRAC to strengthen network security, I think it will result in a more secure coin that remains lacking in value.  I see it securing the network but don't see it exciting people to where they will invest in FRAC.  It's just not what the market wants right now.  Unfortunately, history is littered with brilliant innovations that the market simply wouldn't support at that point in time and I'd hate to see FRAC be added to that list.

4.  Like it or not, coins need marketing.  Earlz, you're a brilliant coder, but this coin also needs marketing.  For your innovations to not be adopted because this coin doesn't play to the masses would be sad in my opinion.  And like it or not, anonymity is king right now.  I know you don't see great value in anonymity, but THE MARKET does.  If you were to adopt work towards anonymity, your brilliant innovations can also be adopted which is what really matters.  Allow for anonymity as your means to get your true innovations adopted.

How?

A.  Think of this title: "[ANN] [FRAC] Fractalcoin: The most secure anonymous coin - 71% security with Slingshield" --- Suddenly, we're a more secure Darkcoin.  We're anonymous, we have a brilliant developer, and we have Slingshield.  That right there makes me want to buy the hell out of this coin.  Heck, announce something like this and I buy every FRAC I can up to 0.0002 (I'd take it to .0003 but don't want to be too greedy as others need to be able to purchase the coin cheap) as fast as I can and the network becomes stronger.

B.  Which kind of anonymity you use is up to you.  Nodes like Darkcoin, ring signatures like Monero.  Your own innovation.  It doesn't matter.  Announce a move towards anonymity and we surge and secure the network.  Achieve anonymity with Slingshield and this is a $XXX,XXX,XXX coin in my opinion.  And from there, you can continue to innovate as you see fit or let the coin settle as Skunkmonkey mentioned.

C.  Make a move towards anonymity and I'll donate 10,000 FRAC to the developers to split amongst yourselves as you see fit as I know it would be a lot of work and you guys deserve a larger reward if you undertake this.

Network security is a function of price.  Rather than secure a cheap coin, let's improve price so it secures itself and the innovations are put to proper use.

Just my thoughts as a successful altcoin investor.

I think the best mechanism by which to support anonymous transactions at this point is stealth addresses(ie, ShadowSend). These are very well liked by the bitcoin developers (ie, we implement it, and maybe they would pull it upstream into mainstream bitcoin), is very well researched, and it's creator has a number of high profile credentials. We will be watching ShadowCoin and their implementation of stealth addresses very closely. We do not buy into the anonymous mixing hype, but stealth addresses solve a very real problem that other anonymous mixing solutions do not.

[MyFarm]

stealth addresses solve a very real problem that other anonymous mixing solutions do not.

Could you elaborate on what they solve that anonymous mixing solutions do not?

And why not fork Shadowsend now and improve upon it?

[MyFarm]

Additional thoughts:

1.  Who cares what the Bitcoin Devs like and don't.  If you're just using Fractalcoin as a test bed for future Bitcoin features, then yes, what they like matters.  But if you're trying to create your own, useful, real world adopted coin, then we need to have innovation.  Waiting for other people to create features then adopting them will not make Fractalcoin valuable.  Taking what they are working on then improving them does.

2.  And anonymous mixing may indeed be hype, I don't know.  But it is what the market wants at present.  The market sees value in it.  Fractalcoin must gain traction and adoption.  Anonymous mixing is a way in.  If you have a better idea, I'm all ears but POS is not going to be it in my opinion and you'll waste two months of dev time.  If in the future that feature is no longer utilized, who cares.  But at least Fractalcoin will have gained traction thanks to it.

3.  Back in 2005 I started a company where we decided not to have so much as a logo because we were sick of being bombarded left and right by marketing.  We had a really good set of services and our homepage didn't so much as have our company name on it because we wanted everything to be clean and just about the services we offered.

You've never heard of the company or any of the services we offered.  As altruistic as our motives were, that's just not how the world works unfortunately.  Yes, be transparent and honest but the fact is, you have to appeal to the masses by giving them what they want or are told they needed in order to sneak the true innovations in.

If you don't do anonymity I fear someone will take Fractalcoin and add anonymity to it as a more secure anonymous currency would be amazing.  I'd prefer you head that up Earlz.  But if you don't, whoever does, please contact me via PM so I can invest.