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

[Alfred0211]

I can do a dutch translation if you like, for a bounty

[binaryclock]

Will put up pool in the next hour!




FRAC.V2.DEDICATEDPOOL.COM

Mining Information

• SSO (single sign-on) - one account for all our pools on Dedicated v2.0
  
• Custom stratum/mpos environment
• Vardiff enabled
• PPNLS payout system
• Everything is transparent - blocks, donations, fees.

Server Infrastructure

• SIX(6) SERVERS IN CLUSTER
• DDoS level 7 cloudflare, 5 and 3 stratum, and level at 1 switch level
• 8 Core servers, 256GB DDR3 RAM, RAID 10 SSD
• Ramdisks, memcaches, to make things go extremely quick

Same here, binaryclocks ways to do business is disgusting, you do not deserve any support.

Wow, never heard anything from you about anything like this.  I don't even know who you are.  If you have been wronged in some way that I do not know, please contact me via PM/email admin@dedicatedpool.com and let me know how we can help!

Thank you sir,

http://dedicatedpool.com
Ryan, dedicatedpool.com support/admin
admin@dedicatedpool.com / IRC on freenode ##dedicatedpool

[platorin]

Any premine nowadays is an awful idea. 51% attack is not a solution, since the value needed to take over the network was slightly increased by 20%. Which means you have nothing against 71% attack. Moreover, the coin has nothing new to offer.

[renisel2]

Any premine nowadays is an awful idea. 51% attack is not a solution, since the value needed to take over the network was slightly increased by 20%. Which means you have nothing against 71% attack. Moreover, the coin has nothing new to offer.

It actually requires about 40% more resources to perform a 71% attack as opposed to a 51% attack.  I agree that for someone who can get 51% of the hash rate, getting 71% instead probably isn't nearly as difficult as, say, someone getting from 1% to 21%.  But I have a difficult time seeing how this increase in the threshold is completely without value.

[Gibcity]

What time is launch if I live in chicago?

[bitluryz]

omg i found password ! 

[earlz]

omg i found password ! 

Even if that is somehow true, due to no nodes being online with the checkpoint block, it still won't be possible to premine

[pozmu]

0,5% fee seems too much IMHO
It will make this coin unusable in the long run
Even Bitcoin removed forced fees and you're gonna make them so high.
I understand your intentions but if it's not pump&dump then it's way too much 

[rog1121]

Mining Confirmed Working!

[Brewins]

• 1: 5000 FRAC Premine
• 2 - 31 : 0 FRAC (to ensure that launch is fair and everyone including pools are ready for launch)
• 32 -1471: 40 FRAC (1 day)
• 1472-20191: 20 FRAC (13 days)
• 20192-38912: 10 FRAC (13 days)
• 38913-40352: 40 FRAC (1 day)

Loving the block reward plan!

Very innovative! but the question remains, whats the benefit of people mining after the second block reward drop?

[becausePool]

Fractal Coin added to becausePool!
https://becausepool.com/index.php?coin=frac
stratum.becausepool.com:3372


Rent some extra hashpower for the launch!  
http://www.miningrigrentals.com/

[brainape]

Will put up pool in the next hour!

FRAC.V2.DEDICATEDPOOL.COM



Were you still going to add FRAC?  

[Vagnavs]

0,5% fee seems too much IMHO
It will make this coin unusable in the long run
Even Bitcoin removed forced fees and you're gonna make them so high.
I understand your intentions but if it's not pump&dump then it's way too much 

I agree. Please drop the pre-mine amount. Otherwise unusable in the future.

[tricass]

0,5% fee seems too much IMHO
It will make this coin unusable in the long run
Even Bitcoin removed forced fees and you're gonna make them so high.
I understand your intentions but if it's not pump&dump then it's way too much  

I agree. Please drop the pre-mine amount. Otherwise unusable in the future.

i think he was referring to the transaction costs and not the premine and i agree with the sentiment. this will make movement of coins too expensive with ppl opting for other coins offering cheaper fixed transaction costs rather than a percentage based one. you might be better off with a higher fixed transaction cost or significantly lower that percentage.

eg transaction costs

sending 10,000 costs 50
sending 1,000 costs 5
sending 100 costs 0.5

ppl are used to transaction costs like 0.0001


edit: just had a read of the white paper and it seems like the fee is a variable one from 0.1 to 0.5% depending on who you send the funds to. trying to get my head around the example where it mentions:

"Imagine that the current block's difficulty is 210 and the current block reward is 1 coin. Alice
wants to send Bob 100 coins, so she creates a transaction. This transaction might have fees
of 0.5%, so lets say the fee is 1.05 coins. The minimum a transaction spending so many coins
could be would be 0.21 coin though, which is what Slingshield works on."

Some questions:
1. Doesn't 0.5% of 100 amount to 0.5 coins and not 1.05?
2. Where does the 0.21 coins figure come from?

[binaryclock]

Will put up pool in the next hour!

FRAC.V2.DEDICATEDPOOL.COM



Were you still going to add FRAC?  

Yep it's up now.

[robinf]

Good Luck I'm in!!

[earlz]

0,5% fee seems too much IMHO
It will make this coin unusable in the long run
Even Bitcoin removed forced fees and you're gonna make them so high.
I understand your intentions but if it's not pump&dump then it's way too much  

I agree. Please drop the pre-mine amount. Otherwise unusable in the future.

i think he was referring to the transaction costs and not the premine and i agree with the sentiment. this will make movement of coins too expensive with ppl opting for other coins offering cheaper fixed transaction costs rather than a percentage based one. you might be better off with a higher fixed transaction cost or significantly lower that percentage.

eg transaction costs

sending 10,000 costs 50
sending 1,000 costs 5
sending 100 costs 0.5

ppl are used to transaction costs like 0.0001


edit: just had a read of the white paper and it seems like the fee is a variable one from 0.1 to 0.5% depending on who you send the funds to. trying to get my head around the example where it mentions:

"Imagine that the current block's difficulty is 210 and the current block reward is 1 coin. Alice
wants to send Bob 100 coins, so she creates a transaction. This transaction might have fees
of 0.5%, so lets say the fee is 1.05 coins. The minimum a transaction spending so many coins
could be would be 0.21 coin though, which is what Slingshield works on."

Some questions:
1. Doesn't 0.5% of 100 amount to 0.5 coins and not 1.05?
2. Where does the 0.21 coins figure come from?

This bit is due to change addresses. When sending money back to yourself, you pay fees of 0.1% rather than 0.5%.

Fees are an unavoidable cost of ensuring that you have a secure network on which to spend money, without the economic side effects of long-term hyper-inflation. This is designed primarily as a currency after all, for buying things from businesses. If you look at a non-bitcoin competitor, such as credit cards, you'll see they usually have fees around 2.5% or more. If transaction volume proves that fees can be reduced later down the line, they can be reduced without requiring a hard fork.

[brainape]

Will put up pool in the next hour!

FRAC.V2.DEDICATEDPOOL.COM



Were you still going to add FRAC?  

Yep it's up now.

Cool.  Can you fix the links please.

[CryptoLaunch]

[tricass]

0,5% fee seems too much IMHO
It will make this coin unusable in the long run
Even Bitcoin removed forced fees and you're gonna make them so high.
I understand your intentions but if it's not pump&dump then it's way too much  

I agree. Please drop the pre-mine amount. Otherwise unusable in the future.

i think he was referring to the transaction costs and not the premine and i agree with the sentiment. this will make movement of coins too expensive with ppl opting for other coins offering cheaper fixed transaction costs rather than a percentage based one. you might be better off with a higher fixed transaction cost or significantly lower that percentage.

eg transaction costs

sending 10,000 costs 50
sending 1,000 costs 5
sending 100 costs 0.5

ppl are used to transaction costs like 0.0001


edit: just had a read of the white paper and it seems like the fee is a variable one from 0.1 to 0.5% depending on who you send the funds to. trying to get my head around the example where it mentions:

"Imagine that the current block's difficulty is 210 and the current block reward is 1 coin. Alice
wants to send Bob 100 coins, so she creates a transaction. This transaction might have fees
of 0.5%, so lets say the fee is 1.05 coins. The minimum a transaction spending so many coins
could be would be 0.21 coin though, which is what Slingshield works on."

Some questions:
1. Doesn't 0.5% of 100 amount to 0.5 coins and not 1.05?
2. Where does the 0.21 coins figure come from?

This bit is due to change addresses. When sending money back to yourself, you pay fees of 0.1% rather than 0.5%.

Fees are an unavoidable cost of ensuring that you have a secure network on which to spend money, without the economic side effects of long-term hyper-inflation. This is designed primarily as a currency after all, for buying things from businesses. If you look at a non-bitcoin competitor, such as credit cards, you'll see they usually have fees around 2.5% or more. If transaction volume proves that fees can be reduced later down the line, they can be reduced without requiring a hard fork.

it remains to be seen whether this is priced correctly. seems more weighted towards miners than the consumer but we need both for this coin to succeed. i hope it works out and i will be mining it.

but i'm still not clear on the maths so hoping someone clarifies the numbers for me.