[ANN][FAIR] FairCoin - for a fair economy, featuring proof-of-cooperation

[Indal0]

I think the value will remain low as long as there are people who have hundreds of thousands of coins ...
I think Revision 2, should take the amount of coins and divide by 2 or 3 in fewer coins, and who has a lot will not rush to sell.

I dont think this will work... if you have 50 million coins there is a top 100 rich list. if you have 10 millions coins you also have this list with people with more coins than others... and you will see dumps and selling preseure again.

[1714093675]

1714093675

[smartaction]

I think the value will remain low as long as there are people who have hundreds of thousands of coins ...
I think Revision 2, should take the amount of coins and divide by 2 or 3 in fewer coins, and who has a lot will not rush to sell.

I dont think this will work... if you have 50 million coins there is a top 100 rich list. if you have 10 millions coins you also have this list with people with more coins than others... and you will see dumps and selling preseure again.

agree with Indal0, value not depend of people having more number of coins, but of the % of the total coins that you have. And this mantain stable if you change the total supply.

Otherwise as fair I know who dumps is not the people with more coins and more involved, but other people with lower holdings, and less involved (some times could be also people with urgency of cash....)

The way to grow value is to grow adoption for payments + savings, we continue on that way 

[Anduril_FotW]

I think the value will remain low as long as there are people who have hundreds of thousands of coins ...
I think Revision 2, should take the amount of coins and divide by 2 or 3 in fewer coins, and who has a lot will not rush to sell.

I dont think this will work... if you have 50 million coins there is a top 100 rich list. if you have 10 millions coins you also have this list with people with more coins than others... and you will see dumps and selling preseure again.

agree with Indal0, value not depend of people having more number of coins, but of the % of the total coins that you have. And this mantain stable if you change the total supply.

Otherwise as fair I know who dumps is not the people with more coins and more involved, but other people with lower holdings, and less involved (some times could be also people with urgency of cash....)

The way to grow value is to grow adoption for payments + savings, we continue on that way 

Totally agree with this !!!
As long as main stream adoption remains the focus of FAIR, the FAIR value will become stronger and stronger !
 

[smartaction]

So, my proposal could be designed like this.

We build a Faircoin stabilization fund. That fund only appears in special situations, like we have now. I n the future when Coopshares liquidity fund would be bigger, probably that stabilization fund not would be needed, but right now is needed.

From getfaircoin we manage that fund.  we receive Bitcoin,  and buy on the sell walls. After that we distribute the faircoins in proportion of your investment.

For the people that suports the stabilization fund, and as a reciprocity of the risk that you are taking
We could bring 20% bonus of your buy in Bittrex, as a free investment in Coopshares FIF.  (This comes from the sells that we are doing in getfaircoin.net at bigger price)

So, as example. You invest 1 BTC, with that BTC the stabilization fund, buys 10000 FAIR (if the prices 10000 satoshis in that case)
then we send you the 10000 FAIR and we create for you an investment of 2000 FAIR in Coopshares FIF.


People that want to help without enter to the fund, can do anyway, managing their funds at their own, but without the coopshares bonus.

I would like to know if there are people interested in join.

Yes I could maybe put the 40,000 FAIR investment that I was going to make CoopShares into this fund or maybe only half of it if there's a lot more risk than there is with CoopShares.  

What matters for that decition is if you are willing to invest faircoins that you already have,  or if you will buy the faircoins.  In the first case, its clear that to invest in Coopshares FIF directly is the better choise. In the second case, could be different options, I think that we could talk further about that in PM

[Anduril_FotW]

With the current work and efforts being put into the FAIR economy and the successes that have already been achieved, it really amazes me that there are still people dumping FAIR in Bittrex.
Unfortunately, we can only start growing again once all the dumpers have dumped their coins into the hands of long term investors and believers in the FAIR economy.
To speed up this process, we really need volume.
The good thing about volume is that the process of moving the coins from people without faith to people with faith goes much quicker.
Therefore again, I believe we need to lower the price in GetFairCoin to create more volume.
Also with the FAIR week coming up we need buy and sell prices that match. If they are currently lower than what we would like then so be it for the moment. It will rise in the future, but for now we need to adjust accordingly is my believe.
My opinion at least 
 

[clipman77]

With the current work and efforts being put into the FAIR economy and the successes that have already been achieved, it really amazes me that there are still people dumping FAIR in Bittrex.
Unfortunately, we can only start growing again once all the dumpers have dumped their coins into the hands of long term investors and believers in the FAIR economy.
To speed up this process, we really need volume.
The good thing about volume is that the process of moving the coins from people without faith to people with faith goes much quicker.
Therefore again, I believe we need to lower the price in GetFairCoin to create more volume.
Also with the FAIR week coming up we need buy and sell prices that match. If they are currently lower than what we would like then so be it for the moment. It will rise in the future, but for now we need to adjust accordingly is my believe.
My opinion at least 
 

How much should drop the price about?

[Mandy1749]

With the current work and efforts being put into the FAIR economy and the successes that have already been achieved, it really amazes me that there are still people dumping FAIR in Bittrex.
Unfortunately, we can only start growing again once all the dumpers have dumped their coins into the hands of long term investors and believers in the FAIR economy.
To speed up this process, we really need volume.
The good thing about volume is that the process of moving the coins from people without faith to people with faith goes much quicker.
Therefore again, I believe we need to lower the price in GetFairCoin to create more volume.
Also with the FAIR week coming up we need buy and sell prices that match. If they are currently lower than what we would like then so be it for the moment. It will rise in the future, but for now we need to adjust accordingly is my believe.
My opinion at least 
 

strong hands can change to weak hands if you lower the price in getfaircoin as your wish
getfaircoin is good tool to stable the price...the market is very unstable Especially in such a low marketcap coin.
getfaircoin is not only a tool to buy faircoin. it's also a tools to guide people what the correct price of fair is(would be).and it's a tool to stable the price.
the price in bittrex is not the correct price of fair,it's can be easily  Influences by a small buy or small sell.i say small that means you only need to sell 200K fair or buy 20BTC,the price would be half ,or be double.
so i dont think the price on bittrex is the correct price of fair.
 

[Anduril_FotW]

With the current work and efforts being put into the FAIR economy and the successes that have already been achieved, it really amazes me that there are still people dumping FAIR in Bittrex.
Unfortunately, we can only start growing again once all the dumpers have dumped their coins into the hands of long term investors and believers in the FAIR economy.
To speed up this process, we really need volume.
The good thing about volume is that the process of moving the coins from people without faith to people with faith goes much quicker.
Therefore again, I believe we need to lower the price in GetFairCoin to create more volume.
Also with the FAIR week coming up we need buy and sell prices that match. If they are currently lower than what we would like then so be it for the moment. It will rise in the future, but for now we need to adjust accordingly is my believe.
My opinion at least 
 

How much should drop the price about?

I don't think we should lower it too much.
Maybe to 25 FAIR/ EUR ?

With a BTC price of 260 euro, that would be a rate of about 0.00015 BTC/ FAIR.
That seems more fair to me in the current situation.

[Anduril_FotW]

With the current work and efforts being put into the FAIR economy and the successes that have already been achieved, it really amazes me that there are still people dumping FAIR in Bittrex.
Unfortunately, we can only start growing again once all the dumpers have dumped their coins into the hands of long term investors and believers in the FAIR economy.
To speed up this process, we really need volume.
The good thing about volume is that the process of moving the coins from people without faith to people with faith goes much quicker.
Therefore again, I believe we need to lower the price in GetFairCoin to create more volume.
Also with the FAIR week coming up we need buy and sell prices that match. If they are currently lower than what we would like then so be it for the moment. It will rise in the future, but for now we need to adjust accordingly is my believe.
My opinion at least 
 

strong hands can change to weak hands if you lower the price in getfaircoin as your wish
getfaircoin is good tool to stable the price...the market is very unstable Especially in such a low marketcap coin.
getfaircoin is not only a tool to buy faircoin. it's also a tools to guide people what the correct price of fair is(would be).and it's a tool to stable the price.
the price in bittrex is not the correct price of fair,it's can be easily  Influences by a small buy or small sell.i say small that means you only need to sell 200K fair or buy 20BTC,the price would be half ,or be double.
so i dont think the price on bittrex is the correct price of fair.
 

I agree with you on most points, but I do think the difference currently just is too big.
With the current BTC price, 20 FAIR/ EUR would come down to a rate of almost 0.0002 BTC/ FAIR while the Bittrex price is currently 0.000075.
So I don't think we should move the GetFairCoin price with every move of Bittrex.
But if it turns out to be a more prolonged change in price, we do need to adjust the GetFairCoin price accordingly.
And if we are all honest, we would also move the GetFairCoin price up if the price on Bittrex would rise again.
So we should also do it if the opposite is the case.

[doremi]

strong hands can change to weak hands if you lower the price in getfaircoin as your wish
getfaircoin is good tool to stable the price...the market is very unstable Especially in such a low marketcap coin.
getfaircoin is not only a tool to buy faircoin. it's also a tools to guide people what the correct price of fair is(would be).and it's a tool to stable the price.
the price in bittrex is not the correct price of fair,it's can be easily  Influences by a small buy or small sell.i say small that means you only need to sell 200K fair or buy 20BTC,the price would be half ,or be double.
so i dont think the price on bittrex is the correct price of fair.
 

totally agree.
for those guys that keep trying to influence GetFaircoin to lower it's price..they seems have their agenda and i'm pretty sure they just want this to be done to get some advantages with manipulating the market but nothing good to Faircoin at all.

[thokon00]

With the current work and efforts being put into the FAIR economy and the successes that have already been achieved, it really amazes me that there are still people dumping FAIR in Bittrex.
Unfortunately, we can only start growing again once all the dumpers have dumped their coins into the hands of long term investors and believers in the FAIR economy.
To speed up this process, we really need volume.
The good thing about volume is that the process of moving the coins from people without faith to people with faith goes much quicker.
Therefore again, I believe we need to lower the price in GetFairCoin to create more volume.
Also with the FAIR week coming up we need buy and sell prices that match. If they are currently lower than what we would like then so be it for the moment. It will rise in the future, but for now we need to adjust accordingly is my believe.
My opinion at least 
 

strong hands can change to weak hands if you lower the price in getfaircoin as your wish
getfaircoin is good tool to stable the price...the market is very unstable Especially in such a low marketcap coin.
getfaircoin is not only a tool to buy faircoin. it's also a tools to guide people what the correct price of fair is(would be).and it's a tool to stable the price.
the price in bittrex is not the correct price of fair,it's can be easily  Influences by a small buy or small sell.i say small that means you only need to sell 200K fair or buy 20BTC,the price would be half ,or be double.
so i dont think the price on bittrex is the correct price of fair.
 

Yes, Mandy, you nailed it.

The price on BitTrex does not reflect the current value of FairCoin. The value of a currency is determined by it's usage. At the moment bot are straining the price and every time I refund coins from the recovery block the price goes down for the next couple of days, depending on the amount that I refund.

Conclusion: regardless of the price on any exchange, FairCoin is gaining more and more value day by days, because many people are involved and work hard to drive development further.

regs
Thomas

[Indal0]

So, my proposal could be designed like this.

We build a Faircoin stabilization fund. That fund only appears in special situations, like we have now. I n the future when Coopshares liquidity fund would be bigger, probably that stabilization fund not would be needed, but right now is needed.

From getfaircoin we manage that fund.  we receive Bitcoin,  and buy on the sell walls. After that we distribute the faircoins in proportion of your investment.

For the people that suports the stabilization fund, and as a reciprocity of the risk that you are taking
We could bring 20% bonus of your buy in Bittrex, as a free investment in Coopshares FIF.  (This comes from the sells that we are doing in getfaircoin.net at bigger price)

So, as example. You invest 1 BTC, with that BTC the stabilization fund, buys 10000 FAIR (if the prices 10000 satoshis in that case)
then we send you the 10000 FAIR and we create for you an investment of 2000 FAIR in Coopshares FIF.


People that want to help without enter to the fund, can do anyway, managing their funds at their own, but without the coopshares bonus.

I would like to know if there are people interested in join.

I like the idea! is like the initial stages of the stabilization fund! I am in! I will use it every month if I can for my monthly purchases

[Mandy1749]

With the current work and efforts being put into the FAIR economy and the successes that have already been achieved, it really amazes me that there are still people dumping FAIR in Bittrex.
Unfortunately, we can only start growing again once all the dumpers have dumped their coins into the hands of long term investors and believers in the FAIR economy.
To speed up this process, we really need volume.
The good thing about volume is that the process of moving the coins from people without faith to people with faith goes much quicker.
Therefore again, I believe we need to lower the price in GetFairCoin to create more volume.
Also with the FAIR week coming up we need buy and sell prices that match. If they are currently lower than what we would like then so be it for the moment. It will rise in the future, but for now we need to adjust accordingly is my believe.
My opinion at least 
 

strong hands can change to weak hands if you lower the price in getfaircoin as your wish
getfaircoin is good tool to stable the price...the market is very unstable Especially in such a low marketcap coin.
getfaircoin is not only a tool to buy faircoin. it's also a tools to guide people what the correct price of fair is(would be).and it's a tool to stable the price.
the price in bittrex is not the correct price of fair,it's can be easily  Influences by a small buy or small sell.i say small that means you only need to sell 200K fair or buy 20BTC,the price would be half ,or be double.
so i dont think the price on bittrex is the correct price of fair.
 

Yes, Mandy, you nailed it.

The price on BitTrex does not reflect the current value of FairCoin. The value of a currency is determined by it's usage. At the moment bot are straining the price and every time I refund coins from the recovery block the price goes down for the next couple of days, depending on the amount that I refund.

Conclusion: regardless of the price on any exchange, FairCoin is gaining more and more value day by days, because many people are involved and work hard to drive development further.

regs
Thomas

that's right thomas
i see this coin born,to the moon first time,and fall off the rocket the first time..and take off by you guys,and then grows everyday.then to the moon second time,and now.
i know everything about faircoin.
so i can see things clearly.
dont Influences by other voice who didnt know much about faircoop and faircoin.
just do what you do.and someone like me will stand with you guys side by side.

[Anduril_FotW]

strong hands can change to weak hands if you lower the price in getfaircoin as your wish
getfaircoin is good tool to stable the price...the market is very unstable Especially in such a low marketcap coin.
getfaircoin is not only a tool to buy faircoin. it's also a tools to guide people what the correct price of fair is(would be).and it's a tool to stable the price.
the price in bittrex is not the correct price of fair,it's can be easily  Influences by a small buy or small sell.i say small that means you only need to sell 200K fair or buy 20BTC,the price would be half ,or be double.
so i dont think the price on bittrex is the correct price of fair.
 

totally agree.
for those guys that keep trying to influence GetFaircoin to lower it's price..they seems have their agenda and i'm pretty sure they just want this to be done to get some advantages with manipulating the market but nothing good to Faircoin at all.

Accusing eachother of having secret agenda's is really not productive in my opinion and also rather inconsiderate.
I think it's really good that we all have our opinions on which way to go with FAIR and by voicing those opinions we can together find the best way in which to move forward.

[Zombie123]

I completely Agree NOT to change the price in GetFAIRCOIN. If someone is seeing cheaper coins on bitterex go ahead and buy it why do you need GetFairCoin ? We dont want to craete arbitrage which was done previously.

[idandeal]

I think the solution it's to stop to refund coins and sell all them in bittrex.
Just do it

[Mandy1749]

I think the solution it's to stop to refund coins and sell all them in bittrex.
Just do it

how many coin left to be refund?

[smartaction]

I think the solution it's to stop to refund coins and sell all them in bittrex.
Just do it

how many coin left to be refund?

We not know how many coins will be refunded because that depends of the people that still will claim coins on the future,
The recover adress is that one, but this is shared between claims and bounties... 

https://chain.fair-coin.org/address/fRecovr5RiYKSh9hAJYR1jmTMapWMnBxRm  (Around 1.6 M right now)

[Mandy1749]

I think the solution it's to stop to refund coins and sell all them in bittrex.
Just do it

how many coin left to be refund?

We not know how many coins will be refunded because that depends of the people that still will claim coins on the future,
The recover adress is that one, but this is shared between claims and bounties... 

https://chain.fair-coin.org/address/fRecovr5RiYKSh9hAJYR1jmTMapWMnBxRm  (Around 1.6 M right now)

does that mean ,if this 1.6M was used no matter by refund or by bounties ,then the refund would be stop?

[Jack Liver]

put a term to refund like 26th of august 2015 it's exactly six month after the fork, they have had sufficient time to remember
while the team and the community have worked hard...