[ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0

[FoldingCoin]

Counterparty trading is good if more people will use it... decentralized exchange. but only with XCP at the moment
traders/investors are usually buying in big exchanges, using BTC and LTC or others

I agree, having a decentralized exchange does limit the speed, but it makes up for it for not having another MtGox situation

[1715454067]

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[FoldingCoin]

i like idea of this coin, really rocks

Thank you! We are really looking to bring it to the next level when I go full time next year. In the meantime, let me know if you have any questions about FLDC as I am very active on this forum

[Jonesd]

I like the goal of this coin, so will keep following it

[FoldingCoin]

I like the goal of this coin, so will keep following it

Thank you, we hope to reach some great milestones next year, especially since I will have full time focus on FLDC

[sam_adams]

Is there a basic WRITTEN how-to somewhere? Suitable for a cryptocurrency noob? I find video tutorials really hard to use for something like this. Maybe it's my eyesight, maybe it's my crappy monitor, maybe it's my brain. Hmmm. I'll blame the monitor.

[SalimNagamato]

Is there a basic WRITTEN how-to somewhere? Suitable for a cryptocurrency noob? I find video tutorials really hard to use for something like this. Maybe it's my eyesight, maybe it's my crappy monitor, maybe it's my brain. Hmmm. I'll blame the monitor.

on the beginning there was a nice non-video howto... don't know why it is removed from the website
FoldingCoin - you need to put it back/make one on the website, with nice big pictures of all the settings..

but basically you need a counterparty wallet address (can open counterparty wallet at http://counterwallet.io ) - make sure to remember the password, i also save the wallet's private key... just in case
next you need a folding@home client installation from Standford, if you are using GPU, you will work faster when deleting the CPU slots

then use your counterparty's bitcoin address as your folding@home username - in the folding@home client configuration
if you join the foldingcoin team in folding@home client, then you can just use the counterparty's bitcoin address
or you can use   yourname_FLDC_bitcoinaddress
for example PookTwo_FLDC_16muW9htJAYrrXrKN8BwWTmT6cgXscXDzJ

it is better to use folding@home client username configuration with a passkey - for bonus points, get a passkey from http://fah-web.stanford.edu/cgi-bin/getpasskey.py

[FoldingCoin]

Is there a basic WRITTEN how-to somewhere? Suitable for a cryptocurrency noob? I find video tutorials really hard to use for something like this. Maybe it's my eyesight, maybe it's my crappy monitor, maybe it's my brain. Hmmm. I'll blame the monitor.

on the beginning there was a nice non-video howto... don't know why it is removed from the website
FoldingCoin - you need to put it back/make one on the website, with nice big pictures of all the settings..

but basically you need a counterparty wallet address (can open counterparty wallet at http://counterwallet.io ) - make sure to remember the password, i also save the wallet's private key... just in case
next you need a folding@home client installation from Standford, if you are using GPU, you will work faster when deleting the CPU slots

then use your counterparty's bitcoin address as your folding@home username - in the folding@home client configuration
if you join the foldingcoin team in folding@home client, then you can just use the counterparty's bitcoin address
or you can use   yourname_FLDC_bitcoinaddress
for example PookTwo_FLDC_16muW9htJAYrrXrKN8BwWTmT6cgXscXDzJ

it is better to use folding@home client username configuration with a passkey - for bonus points, get a passkey from http://fah-web.stanford.edu/cgi-bin/getpasskey.py

You are correct, I need to update the tutorials and how to pictures.

This is my first official day of being full time FLDC!!!!! I am supper excited to get started.

Today will be a lot of organizational related tasks dealing with the internal files that me and the devs use. Also fixing broken internet links. But tomorrow I will put focus on updating all the tutorial related items since they are a little outdated now. Please give me until Wednesday morning to get that completed.

But now that i am full time, I am going to be here all day so please feel free to ask anything of me and i will respond, thank you folders!

[SalimNagamato]

very good

excited to wait and see what your work will bring
have a lot of luck and success

[FoldingCoin]

very good

excited to wait and see what your work will bring
have a lot of luck and success

Thank you for the kind words, and especially thank you for always staying active on this forum, I see you come up a lot

[SalimNagamato]

if projects in this forum deserve some good attention, FLDC is certainly one of them.
one of the best with helping mankind
almost 1 billion folding@home points is already a great help to Stanford and to scientific research.

[FoldingCoin]

if projects in this forum deserve some good attention, FLDC is certainly one of them.
one of the best with helping mankind
almost 1 billion folding@home points is already a great help to Stanford and to scientific research.

Agreed. If more people would get involved with FAH that used to be miners, than FAH would blow up just like alt coin mining did, alt coin mining power overpowers the FAH network by about 17x, imagine if that energy was used for FAH or BOINC....

Hopefully FLDC can help bring more adoption

[SalimNagamato]

if projects in this forum deserve some good attention, FLDC is certainly one of them.
one of the best with helping mankind
almost 1 billion folding@home points is already a great help to Stanford and to scientific research.

Agreed. If more people would get involved with FAH that used to be miners, than FAH would blow up just like alt coin mining did, alt coin mining power overpowers the FAH network by about 17x, imagine if that energy was used for FAH or BOINC....

Hopefully FLDC can help bring more adoption

won't it collapse Stanford servers ?

[FoldingCoin]

if projects in this forum deserve some good attention, FLDC is certainly one of them.
one of the best with helping mankind
almost 1 billion folding@home points is already a great help to Stanford and to scientific research.

Agreed. If more people would get involved with FAH that used to be miners, than FAH would blow up just like alt coin mining did, alt coin mining power overpowers the FAH network by about 17x, imagine if that energy was used for FAH or BOINC....

Hopefully FLDC can help bring more adoption

won't it collapse Stanford servers ?

LOL!!! I sure hope not, but if so, then they must accommodate for the massive power!!!

I know that was a joke but for those that dont understand, In reality, the files from FAH that house the folds are downloaded to the Folding machines, then are crunched by the folding machines OFFLINE (yes you could technically fold offline) then once complete are sent back to Stanford (you need to be online once complete). So really stanford runs a file upload and download server. 

[Jonesd]

Really impressed with the coin. Is there a way to automate the distribution? What happens when you don't have the time to continuing distributing new coins or lose interest?

[SalimNagamato]

Really impressed with the coin. Is there a way to automate the distribution? What happens when you don't have the time to continuing distributing new coins or lose interest?

I though of that too..  also what happens if the distribution wallet is lost...
if there will still be interest from the community
we could always create FLDC2, swap and continue
with hopes that it will never happen. and this project will be a success

[FoldingCoin]

Really impressed with the coin. Is there a way to automate the distribution? What happens when you don't have the time to continuing distributing new coins or lose interest?

I though of that too..  also what happens if the distribution wallet is lost...
if there will still be interest from the community
we could always create FLDC2, swap and continue
with hopes that it will never happen. and this project will be a success

These are all realistic concerns that we have had to answer since day one. I hope the following responses will help ease these concerns:

1. Automate the distribution: Our distribution is automated to a certain extent. All we have to do is send all the funds for that particular day to one address, and the LTB server distributes all the funds from there. Now that I am full time, I will be doing this everyday at 10 am EST, but should i be late, the other developers at FoldingCoin Inc. will proceed to payout that day. This is day 2 of me being full time, so we are still developing that plan of action, but we will have something set in stone by the end of the week.

2. Lose interest: I love this community, and i just left a job i was at for 9 years to do FLDC full time. But I understand that things happen in life and this could change (although i dont think it will, as I have wanted to do a BTC project for 2 years now). But to make sure this doesnt happen, by the end of the calendar year we wish to establish a board of directors who are dedicated to the mission. We do not just want to select random developers from the internet either, we also need medical professionals on this board that understand protein folding and see the value in something like FoldingCoin Inc. to be in existence. This is one of the main reasons as to why we wished to incorporate. Now that we are an incorporated non profit (legally), we now have some accountability that has been added to us.

3. Lost wallet: We have a solution that we have done twice already, put all but 1 weeks worth of folding in a paper wallet. We havent done that in sometime since we have been working a lot through the holidays (on our personal jobs) but now that I am full time, this is something that will be done weekly. The process is as follows:
-ubuntu computer never connected to the internet with fresh install
-paper wallet generator on that computer
-usb only dummy printer
-print bip38 wallet

This will keep all but 3.5 million FLDC. If 3.5 million FLDC is stolen, we as developers have enough FLDC to cover that cost. every week we will print a new wallet and put all but 3.5 million in it again and repeat the process. In case of what we call the "hit by a bus" issue and one of us is unavailable, we have comodo secured encryption emails that i send the bip38 private key to james who is in canada. The password to the key is only communicated via voice call so that way even IF the email is unsecured, only james and me have the password to unlock the wallet. Multisig just got released for CP, so we will be looking into that as well.

4. Developer abuse: This isnt something either of you brought up, but I wish to bring it up. We as the Devs do have control of the undistributed funds and it is technically possible that we could have bad intentions (just to clarify we dont, but none of you know us personally so you have no way of knowing). This is the very reason why we are doing Multisig, BOD, and most importantly have incorporated. If we do something unethical, the government knows exactly who we are and appropriate law enforcement could be used for a "running".

I hope this answered all concerns

[Jonesd]

Really impressed with the coin. Is there a way to automate the distribution? What happens when you don't have the time to continuing distributing new coins or lose interest?

I though of that too..  also what happens if the distribution wallet is lost...
if there will still be interest from the community
we could always create FLDC2, swap and continue
with hopes that it will never happen. and this project will be a success

These are all realistic concerns that we have had to answer since day one. I hope the following responses will help ease these concerns:

1. Automate the distribution: Our distribution is automated to a certain extent. All we have to do is send all the funds for that particular day to one address, and the LTB server distributes all the funds from there. Now that I am full time, I will be doing this everyday at 10 am EST, but should i be late, the other developers at FoldingCoin Inc. will proceed to payout that day. This is day 2 of me being full time, so we are still developing that plan of action, but we will have something set in stone by the end of the week.

2. Lose interest: I love this community, and i just left a job i was at for 9 years to do FLDC full time. But I understand that things happen in life and this could change (although i dont think it will, as I have wanted to do a BTC project for 2 years now). But to make sure this doesnt happen, by the end of the calendar year we wish to establish a board of directors who are dedicated to the mission. We do not just want to select random developers from the internet either, we also need medical professionals on this board that understand protein folding and see the value in something like FoldingCoin Inc. to be in existence. This is one of the main reasons as to why we wished to incorporate. Now that we are an incorporated non profit (legally), we now have some accountability that has been added to us.

3. Lost wallet: We have a solution that we have done twice already, put all but 1 weeks worth of folding in a paper wallet. We havent done that in sometime since we have been working a lot through the holidays (on our personal jobs) but now that I am full time, this is something that will be done weekly. The process is as follows:
-ubuntu computer never connected to the internet with fresh install
-paper wallet generator on that computer
-usb only dummy printer
-print bip38 wallet

This will keep all but 3.5 million FLDC. If 3.5 million FLDC is stolen, we as developers have enough FLDC to cover that cost. every week we will print a new wallet and put all but 3.5 million in it again and repeat the process. In case of what we call the "hit by a bus" issue and one of us is unavailable, we have comodo secured encryption emails that i send the bip38 private key to james who is in canada. The password to the key is only communicated via voice call so that way even IF the email is unsecured, only james and me have the password to unlock the wallet. Multisig just got released for CP, so we will be looking into that as well.

4. Developer abuse: This isnt something either of you brought up, but I wish to bring it up. We as the Devs do have control of the undistributed funds and it is technically possible that we could have bad intentions (just to clarify we dont, but none of you know us personally so you have no way of knowing). This is the very reason why we are doing Multisig, BOD, and most importantly have incorporated. If we do something unethical, the government knows exactly who we are and appropriate law enforcement could be used for a "running".

I hope this answered all concerns

It's almost as if you're a bunch of scientists handling it smart

Good job

[SalimNagamato]

It's almost as if you're a bunch of scientists handling it smart

Good job

science FTW!

[FoldingCoin]

It's almost as if you're a bunch of scientists handling it smart

Good job

science FTW!

We have talked with some scientists, and hopefully we can bring some on board this year. But we just a bunch of tech nerds But we are dedicated to the cause which is most important

[forzendiablo]

wheres list of exchanges in OP ?