Fractalcoin - The most important cryptocurrency innovation of 2014

[MyFarm]

I would like to bring your attention to Fractalcoin (thread located here: https://bitcointalk.org/index.php?topic=650173) which, in my opinion, has the most important innovation of 2014.  The devs of Fractalcoin have created Slingshield which takes the dreaded 51% attack we all worry about and makes it so that you have to have 71% of hash power to have a successful attack.  They have managed to increase network security SUBSTANTIALLY.  The white paper can be read here: https://mega.co.nz/#!gBEQ3JhQ!0R40rMjdN8jbzxKAtH9X3ZciRx5yuBOsq7KWosGUFgo

Fractalcoin has other excellent innovations with doubtless more on the way but Slingshield is truly amazing.  I suspect we'll see many new altcoins utilizing it in the future.  The greatest thing about all of this is how under the radar this innovation has been.  Fractalcoin currently has a market cap of less than $150,000.  I suspect people either missed the coin in the huge sea of coin releases or don't grasp just how important this is.  I personally have a short term market cap target of $x,xxx,xxx and midterm target of $xx,xxx,xxx but that is of course speculative.  However, as I always say, invest in the dev, not the coin.  And the three devs of Fractalcoin have created the most innovative and important new feature of 2014.

[TiberiuC]

If people would actually care about that....Carrying bags for weeks...

[roozifus]

If people would actually care about that....Carrying bags for weeks...

Are you saying you've been carrying bags for weeks? FRAC is only a month old?

[TiberiuC]

If people would actually care about that....Carrying bags for weeks...

Are you saying you've been carrying bags for weeks? FRAC is only a month old?

Yes... Seems a long time to me.

[roozifus]

If people would actually care about that....Carrying bags for weeks...

Are you saying you've been carrying bags for weeks? FRAC is only a month old?

Yes... Seems a long time to me.

Naaaa, this is nothing.

Quark was worthless for 6 months before it hit mainstream interest and shot up like a rocket.

Doge was written off as a joke when it launched, including by me!

It's really hard to predict the timing on these things, but I've never seen an innovative coin that didn't get end up making it big.

Plus the timing is perfect at the moment because people are starting to get sick of all the anon-clones, the market is ready for the next innovation.

[thenukemforall]

I would like to bring your attention to Fractalcoin (thread located here: https://bitcointalk.org/index.php?topic=650173) which, in my opinion, has the most important innovation of 2014.  The devs of Fractalcoin have created Slingshield which takes the dreaded 51% attack we all worry about and makes it so that you have to have 71% of hash power to have a successful attack.  They have managed to increase network security SUBSTANTIALLY.  The white paper can be read here: https://mega.co.nz/#!gBEQ3JhQ!0R40rMjdN8jbzxKAtH9X3ZciRx5yuBOsq7KWosGUFgo

Fractalcoin has other excellent innovations with doubtless more on the way but Slingshield is truly amazing.  I suspect we'll see many new altcoins utilizing it in the future.  The greatest thing about all of this is how under the radar this innovation has been.  Fractalcoin currently has a market cap of less than $150,000.  I suspect people either missed the coin in the huge sea of coin releases or don't grasp just how important this is.  I personally have a short term market cap target of $x,xxx,xxx and midterm target of $xx,xxx,xxx but that is of course speculative.  However, as I always say, invest in the dev, not the coin.  And the three devs of Fractalcoin have created the most innovative and important new feature of 2014.

Agree, can't wait to see what devs are working on for the future of FractalCoin.

[meccoin4me]

going to look at fractalcoin now

[BTC_1]

Interesting concept, and something i shall be keeping an eye on

[roozifus]

Faucet here for anybody looking to get some free fractal

http://faucet.fractalcoin.org/

[onetwentyfive]

I would like to bring your attention to Fractalcoin (thread located here: https://bitcointalk.org/index.php?topic=650173) which, in my opinion, has the most important innovation of 2014.  The devs of Fractalcoin have created Slingshield which takes the dreaded 51% attack we all worry about and makes it so that you have to have 71% of hash power to have a successful attack.  They have managed to increase network security SUBSTANTIALLY.  The white paper can be read here: https://mega.co.nz/#!gBEQ3JhQ!0R40rMjdN8jbzxKAtH9X3ZciRx5yuBOsq7KWosGUFgo

Fractalcoin has other excellent innovations with doubtless more on the way but Slingshield is truly amazing.  I suspect we'll see many new altcoins utilizing it in the future.  The greatest thing about all of this is how under the radar this innovation has been.  Fractalcoin currently has a market cap of less than $150,000.  I suspect people either missed the coin in the huge sea of coin releases or don't grasp just how important this is.  I personally have a short term market cap target of $x,xxx,xxx and midterm target of $xx,xxx,xxx but that is of course speculative.  However, as I always say, invest in the dev, not the coin.  And the three devs of Fractalcoin have created the most innovative and important new feature of 2014.

Agreed, I've been following this coin since I noticed the ANN thread before it was released. I think it's flown under the radar because being a 'popular' coin was never one of the stated main goals, wasting time on things like that is not a sustainable long term goal. Build a quality product and the community grows organically, that's the only path to true success. Look at all the big players, nobody started out making a ton of noise, especially Bitcoin.

[roozifus]

Just a friendly reminder to vote on coinwarz

http://www.coinwarz.com/voting#

We could very easily hit 3rd place in a couple of days!

[roozifus]

Just an update, we're currently in first position on the coinwarz voting list and should be selected next week.
http://www.coinwarz.com/voting

We're flying up the ranks on usecryptos, I think faster than any other coin!
https://www.usecryptos.com/voting

The Faucet is getting a lot of use
http://faucet.fractalcoin.org/

Volumes are starting to pick up again on bittrex, and we're getting a good mix of buyers and sellers.
https://bittrex.com/Market/?MarketName=BTC-FRAC

FRAC is extremely cheap at the moment, but I'm not sure how much longer that will last as longer term investors suck up all the sells.

Things are looking good!

[runpaint]

Fractalcoin is still very young.  We all wish we had bought Bitcoin when it was only a few months old. 

Mining rewards for Fractalcoin are still at 1 coin per block, but the coin is limited to 1 million coins and it won't be too long before they're all mined.  After that the only mining rewards are the transaction fees.

And yesterday somebody put up a 1BTC buywall on Cryptsy.

[runpaint]

Ok here's my peers.dat

http://www.mediafire.com/download/7zvdcxu614eoor6/peers.dat

I installed some new wallets and they couldn't find active connections, so I guess the DNS seeder is gone.

No matter, just use this peers.dat in your fractalcoin appdata folder and you should have active connections.

If you don't know how to do that, here is how:

On Windows 8, right-click the start button and select "Run"
(for Windows 7, left-click the start button and type "run" into "Search Programs and Files", then click Run at the top of the list)
In "Run", type %appdata% and press Enter
You should see the folder located at Appdata/Roaming
Open the Fractalcoin folder
Delete the peers.dat, or move it out of the folder
Drop my peers.dat into the folder
Start your wallet

[tinky winky]

Fractalcoin is still very young.  We all wish we had bought Bitcoin when it was only a few months old. 

Mining rewards for Fractalcoin are still at 1 coin per block, but the coin is limited to 1 million coins and it won't be too long before they're all mined.  After that the only mining rewards are the transaction fees.

And yesterday somebody put up a 1BTC buywall on Cryptsy.

How long before they're all mined? Is there a block halving or is it designed to be mined very fast without any halving?

[runpaint]

It will be about 3 more months, it goes straight from 1 coin per block to 0 + tx fees.

The specs are available at Fractalco.in

[ReiMomo]

It will be about 3 more months, it goes straight from 1 coin per block to 0 + tx fees.

The specs are available at Fractalco.in

That's why is giving empty blocks?

[TPTB_need_war]

I would like to bring your attention to Fractalcoin (thread located here: https://bitcointalk.org/index.php?topic=650173) which, in my opinion, has the most important innovation of 2014.  The devs of Fractalcoin have created Slingshield which takes the dreaded 51% attack we all worry about and makes it so that you have to have 71% of hash power to have a successful attack.  They have managed to increase network security SUBSTANTIALLY.  The white paper can be read here: https://mega.co.nz/#!gBEQ3JhQ!0R40rMjdN8jbzxKAtH9X3ZciRx5yuBOsq7KWosGUFgo

That Slingshot is complete nonsense. How can you n00bs be so gullible to believe that

I guess you all do not understand even the basic foundations of proof-of-work.

Let me ask you a rhetorical question to demonstrate how idiotic that white paper is. Why would a double spender be restricted to only performing a double-spend when his/her transaction fees would amount to a significant increase in block reward?

Besides, the main threat from 51% attack is not double-spending (who would waste all that hashrate just to double-spend?), but rather it is the threat of government regulation via censorship of transactions that don't comply. Slingshot doesn't address this case at all.

[runpaint]

Why would a double spender be restricted to only performing a double-spend when his/her transaction fees would amount to a significant increase in block reward?

You're saying they could double-spend a very small amount of coins? 

Besides, the main threat from 51% attack is not double-spending (who would waste all that hashrate just to double-spend?)

So your explanation of why it's idiotic is idiotic itself.  Who would waste all that hashrate just to double-spend a very small amount of coins?

but rather it is the threat of government regulation via censorship of transactions that don't comply. Slingshot doesn't address this case at all.

Because it's idiotic.  Transactions that don't comply with what?  The transaction fee?  And they're going to censor them how?  By making you wait to get into the next block?

[TPTB_need_war]

Why would a double spender be restricted to only performing a double-spend when his/her transaction fees would amount to a significant increase in block reward?

You're saying they could double-spend a very small amount of coins?

Are you idiotically claiming they could not? And it doesn't need to be very small. just a few % of the entire transactions in a block, which could be quite a large amount.

Besides, the main threat from 51% attack is not double-spending (who would waste all that hashrate just to double-spend?)

So your explanation of why it's idiotic is idiotic itself.  Who would waste all that hashrate just to double-spend a very small amount of coins?

Yes it is idiotic to state that the only purpose of a 51% attack is to double-spend coins. How would someone even double-spend that?

With Bitcoin at $800,000 per block now, so how easily are you going to be able to get away with double-spending even 1% of that? Who is going to be dumb enough to accept an $8000 1-conf transaction? So you need to split into say 100 x $80 transactions. Not worth it!

but rather it is the threat of government regulation via censorship of transactions that don't comply. Slingshot doesn't address this case at all.

Because it's idiotic.  Transactions that don't comply with what?  The transaction fee?  And they're going to censor them how?  By making you wait to get into the next block?

KYC fool. The big red, white, and blue Patriot Act dick rammed up in your ignorant asshole and you don't even know it yet.

Piss off ignoramus.