[ANN][FIRE] FireCoin- 97K Fire - POS - Developer leaving

[tom14cat14]

I forgot everyone does not have Haslets. This is 50mh/s of hashlets that mine on the zenpool. This is GAW miners private pool that mine scrypt and pays out in BTC.
Current average payouts for the zenpool are 0.00065035 BTC per mh. Anyone that has miners there can confirm this. This means the avg payout for this miner should be .0325175 per day. Of course all of this changes with time and are only averages. My hope is we will slowly build the hash up here once I start paying people out. We do not know what coins they mine but they have paid out consistently. Please let me know if there is anything else I can clarify. There is a .08cent per day per mh maintenance fee which will lower the payout slightly.

what is a Haslet tom14cat14 ?

http://gawminers.com/pages/hashlet

ive read this before but i still dont get it.. is a haslet an asic miner? how does it never become obsolete?

GAW updated there TOS yesterday or the day before and what's clear now is that a "Hashlet" is nothing more than a "share" in their mining operation although they still don't come right out and say it.  It's all very confusing as they won't come out and say exactly what they're mining or anything.

Someone also said they emailed them about what the zenpool payouts are made up of (since they're so much higher than any other pool out there).  Don't know if this is true or not so take it with a grain of salt.

https://bitcointalk.org/index.php?topic=720844.msg8601489#msg8601489

Yes there is definitely a debate about the Hashlet and zenpool. But for now I am seeing results so I am a believer. I would not expect them to tell us what they mine because they beat every other pool by so much. There is always a risk that they turn evil and do not have what they say they do but so far they have been great to me and all the people I personally know that have bought their miners.

[Testing Crypto]

Looks like a new step of mining (manual), renting (manual/auto), hashlet (auto) & have yet to try it. Sounds like something I'll have to look into, will have to see what Tom14Cat14's results are in a week or so. Looks like it's going good so far, cloud mining.. Think I remember talk about this a few months ago, looks promising.

[tom14cat14]

I have posted the first payout to this miner in the google spreadsheet. You can check here for updates on how much the miner is making. This is the amount that will be dispersed meaning all fees have already been taken out.  0.02475151 BTC for 8/30

[Viper1]

Looks like a new step of mining (manual), renting (manual/auto), hashlet (auto) & have yet to try it. Sounds like something I'll have to look into, will have to see what Tom14Cat14's results are in a week or so. Looks like it's going good so far, cloud mining.. Think I remember talk about this a few months ago, looks promising.

Don't think the issue really has anything to do with the results one will get from them.  Given everything so far, it looks like they'll be doing whatever they can to keep their zenpool payouts higher than any other pool.  The real issue will be whether something happens to the company before people get their ROI.  If they were selling Hashlets to people as if it was real physical hardware but are now saying it's not, they could end up in hot water.  With the change to the TOS etc it almost seems like they're trying to cover their asses now.  So it seems like most things in crypto, don't invest what you can't afford to lose lol.

[tom14cat14]

We are looking for a few Beta testers for the new wallet. We were going to release to the public today however we have just decided it would be best to do a beta test since this is a large update in functionality of the wallet. If you are interested please have above avg knowledge about wallets and send me a pm. I will send you the link once wallet is finalized. As always backup wallet. 

[tom14cat14]

FYI for those who noticed the warning on Bittrex about might be de-listed if we do not pick up on volume. This is automated and is posted when previous week did not meat avg of .1BTC per day. From what I remember it runs every Sunday. So it will be there until next Sunday. We have already increased enough in the last 2 days that I have no concern about making it. We need about .1BTC volume in the next 6 days to meet the min. So you can ignore this.

[tom14cat14]

Russian translation.  https://bitcointalk.org/index.php?topic=764227

[tom14cat14]

We are looking for a few Beta testers for the new wallet. We were going to release to the public today however we have just decided it would be best to do a beta test since this is a large update in functionality of the wallet. If you are interested please have above avg knowledge about wallets and send me a pm. I will send you the link once wallet is finalized. As always backup wallet. 

Just want to bump this because this is important. Please PM me here so I can just reply with he new wallet once it is ready to be sent out. Should be today.

[tom14cat14]

I have just updated the amount of coins enrolled as of right now. There are 24,390 Fire enrolled. That means out of the 97,5xx Fire in circulation 24k are off the market. This of this as a stability fund for those who do not enroll. This should help maintain and even increase value.

[tom14cat14]

Announcing Mining Profit share

We have created a profit share program where you need to have 750 Fire to be eligible. You will have to submit what fire address you will be keeping the coins in. You will have to maintain min FIRE to be eligible for payment. We will have an enrollment period that we are planning to close on September 12, 2014. Enrollment will be reopened at times to accept new members. Your payout will be a percentage of how much BTC is mined. Your percentage will be based on your coins vs how many are enrolled in the program. Payouts will initially be every 5 days(Subject to change) until I know how many people will enroll. I will accept donations which will go directly to increasing the hash speed of the group miner. Meaning if you donate your payouts over the long run will go up because we will have a higher hashrate.

Example: You have 1000 Fire enrolled and there are a total of 10,000 Fire enrolled in the program. You would then have 10% of the profit pool. So if the payout is .5 BTC you would receive 10% of the .5 BTC or .05 BTC for that payment period.

To apply for the profit share program please send an email to firecoinprofit@gmail.com.
Please send your Firecoin address where your minimum coins will be held and BTC address where your profit share will be sent. We are also asking you to send one coin to this address F6DjcrtesYC9PtcT4k29zEJVq6AFWAiEVE along with the tx id to confirm you are the correct owner of this account. Then please inform whether you want the coin returned or if your would like them added to the donation pot for hash upgrade.

I will be updating BTC payout for the pool here- https://docs.google.com/spreadsheets/d/1D88Cf0GeTolioKoW3hEfTsO2ntSZGuWHP8BA4BVDPis/edit?usp=sharing

So why would I enroll and not just buy my own miner? This will be a continuous payout based on how many Fire you have. You will not have to buy anything. It is beneficial to donate to help buy more hash power. However initial hash is donated by Tom14cat14.

Why should I trust you that you will pay me? I have shown to be trustworthy through all of my actions. ie: Twitter Giveaways, weekly contest for BTC. I have always kept to my word. I also will be paying for this hash power out of my own pocket so the only thing you are risking is buying Firecoin.

Just making sure everyone sees this. This helps the whole community even if you do not have enough to enroll. This creates a stability fund taking many coins off the market which can case a huge boost in price. And for those who enroll you are paid to hold the coin. Yes it may not be millions of dollars but you are still be paid to hold other then the normal POS.

[tom14cat14]

Wallet is in Beta testing with a few people. There are a few minor issues we are fixing so stay tuned for the new wallet for public release.

[tom14cat14]

Romanian https://bitcointalk.org/index.php?topic=764982.new#new

[tom14cat14]

I have updated mining profit pool payout for yesterday. Yesterday was 0.0270976 bringing our 2 day total since this was started to 0.05184911 BTC.

[tom14cat14]

I just checked how many coins are enrolled. There are 38k Coins enrolled. That means close to 40% of all coins are now off the market and in their wallets to get a piece of the profit share. Remember I will be closing enrolment on /9/12/14

[tom14cat14]

Ok update on the wallet. We have located the problem we were having. But it is just a minor fix so I will get it out to all beta testers soon. And once that goes well I will release to the public. I have been able to place orders so it works. It is connected to Bittrex.

[*Sakura*]

Ok update on the wallet. We have located the problem we were having. But it is just a minor fix so I will get it out to all beta testers soon. And once that goes well I will release to the public. I have been able to place orders so it works. It is connected to Bittrex.

My congratulations, Dev!

[tom14cat14]

Ok update on the wallet. We have located the problem we were having. But it is just a minor fix so I will get it out to all beta testers soon. And once that goes well I will release to the public. I have been able to place orders so it works. It is connected to Bittrex.

My congratulations, Dev!

Do you have the beta? Or did you want it.

[tom14cat14]

Ok everyone Bittrex warning has been removed. So lets keep the volume up. I pulled some strings to get it removed for now so lets show them we have a reason to not have that up.

[*Sakura*]

Ok update on the wallet. We have located the problem we were having. But it is just a minor fix so I will get it out to all beta testers soon. And once that goes well I will release to the public. I have been able to place orders so it works. It is connected to Bittrex.

My congratulations, Dev!

Do you have the beta? Or did you want it.

Yep. Give me the link please.

[tom14cat14]

I did a little bit of math just to give everyone a projection of earnings. https://docs.google.com/spreadsheets/d/1D88Cf0GeTolioKoW3hEfTsO2ntSZGuWHP8BA4BVDPis/edit?usp=sharing
We currently have 41,641 Fire enrolled into the program. At current mining pace I project we will have at least .15 BTC payout on 9/4 (Mining days will be 8/31-9/3) this is 5 days of mining. I have run numbers on how much everyone will make in those 5 days. The smallest wallet enrolled has 796 Fire if the coin % stayed the same as they are today they would receive 1.91% of the payout. I will use the .15 BTC as the payment amount to be split. This person will receive 0.00286737 BTC or $1.36. All this person had to do is hold their coins and write me and email to enroll. If someone that does not hold any Fire wanted to buy minimum amount it would cost them roughly $45. They would then have 1.77% receive 0.00265387 btc or $1.26 every 5 days. They would still own all their Fire this is basically an added interest rate on top of the POS. If those payments held equal they would receive $91.98 of pure profit(204%APR) on something they bought for $47 and may have increase in value also. Granted we do not know where payouts will be at that time. If Scrypt takes back off this winter it will help the payout for this miner.