[ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0

[FoldingCoin]

hello has octo and scotcoin been paid for this month yet?

SCOTCOIN, BITCRYSTALS (Spells of Genesis) have both been paid. We are pushing FDCARD (Spells of Genesis) right now and after that we will push OCTO. Then last we will push FLDC

And what we must do with this FDCARD and BITCRYSTALS ?

They are a very exciting project http://www.spellsofgenesis.com/ BITCRYSTALS is actual in game currency for the game "Spells of Genesis" being released soon. You can burn BITCRYSTALS for packs of cards. FDCARD is a special card in the game that you can only acquire via Folding. Spells is a Counterparty project you should for sure be watching closely

[madmartyk]

What does this mean.  22:33:19:WARNING:WU00:FS00:Failed to get assignment from '171.67.108.204:80': Empty work server assignment

My CPU is not folding!!

[FoldingCoin]

What does this mean.  22:33:19:WARNING:WU00:FS00:Failed to get assignment from '171.67.108.204:80': Empty work server assignment

My CPU is not folding!!

hmm.... Can you send me additional information either hear or via email rross@foldingcoin.net

[FoldingCoin]

What does this mean.  22:33:19:WARNING:WU00:FS00:Failed to get assignment from '171.67.108.204:80': Empty work server assignment

My CPU is not folding!!

Maybe a couple of screenshots would be good as well

[Palad1n]

hello has octo and scotcoin been paid for this month yet?

SCOTCOIN, BITCRYSTALS (Spells of Genesis) have both been paid. We are pushing FDCARD (Spells of Genesis) right now and after that we will push OCTO. Then last we will push FLDC

And what we must do with this FDCARD and BITCRYSTALS ?

They are a very exciting project http://www.spellsofgenesis.com/ BITCRYSTALS is actual in game currency for the game "Spells of Genesis" being released soon. You can burn BITCRYSTALS for packs of cards. FDCARD is a special card in the game that you can only acquire via Folding. Spells is a Counterparty project you should for sure be watching closely

Well.. OK.

Counterparty is a very fucking system, constant problems with it. Impossible at times to get into your account, do not come the window with an OK button for a long time. All this enrages and irritates.
I'd add that the counterparty is uncomfortable, crude and tedious system

[FoldingCoin]

hello has octo and scotcoin been paid for this month yet?

SCOTCOIN, BITCRYSTALS (Spells of Genesis) have both been paid. We are pushing FDCARD (Spells of Genesis) right now and after that we will push OCTO. Then last we will push FLDC

And what we must do with this FDCARD and BITCRYSTALS ?

They are a very exciting project http://www.spellsofgenesis.com/ BITCRYSTALS is actual in game currency for the game "Spells of Genesis" being released soon. You can burn BITCRYSTALS for packs of cards. FDCARD is a special card in the game that you can only acquire via Folding. Spells is a Counterparty project you should for sure be watching closely

Well.. OK.

Counterparty is a very fucking system, constant problems with it. Impossible at times to get into your account, do not come the window with an OK button for a long time. All this enrages and irritates.
I'd add that the counterparty is uncomfortable, crude and tedious system

Counterwallet is very buggy I agree, they hope to have a gui desktop client by summer which should solve the issues. Unlike other bitcoin 2.0 projects (ether run and mastercoin) they have actually released. Good things take time so please be patient as this system has so much potential. I do understand the frustration though.

But i thought your problem was with folding not counterwallet, is you cpu still folding? Or was the issue you have to deal with counterwallet?

[madmartyk]

Mine is with CPU, I'll shoot you info after dinner!

[madmartyk]

and of course now it's working!!  lol

[FoldingCoin]

and of course now it's working!!  lol

Murpheys law my friend Let me know if you need any additional help. Dont worry also, the GUI CP wallet will be ready soon

[FoldingCoin]

So the vote officially passed YES: 3,114,165.14116489  NO: 2,690,191.3109954  DECLINE VOTE: 0  http://blockscan.com/vote/UGH7GN1STK

There was no submitted vote for this upcoming month, so there is no pending vote. Please feel free to submit a vote for a change to be made in June found at this forum https://letstalkbitcoin.com/forum/post/phase-1-vote-for-june-change

So we would love to have a discussion on what we should be doing with the 100 Million FLDC that is to be used for project development. Obviously to state for security reasons this will not be putting these funds on an exchange in any bulk manner. This would not be safe in case something is to happen to the exchange. In any situation that is decided IF these funds even go to an exchange, we will not be keeping them there very long.

So here are the current ideas that we have on the table for uses for the FLDC:

• To pay for the daily distribution costs, we will sell each day the amount of FLDC it will take in BTC to do the distributions. Currently it cost around 0.015 BTC to distribute the FLDC so we would sell roughly 25,000 FLDC per day of the 100 Million FLDC, which comes to around 750,000 Per month. You will be testing a new system soon that should decrease this cost to 1/6th the current cost and that would make it only around 4,000 per day or 120,000 per month
• Pay Developers in FLDC to help work on the project. Basically offer bounties for particular tasks that we wish to have completed and have an allocated amount of FLDC for the particular task

What are everyone's thoughts on this? Does anyone see problems with the above suggested or thoughts on other things we could do with the FLDC?

You can post here, but we also have a Reddit thread about this topic found here http://www.reddit.com/r/FoldingCoin/comments/319gel/ideas_for_the_100_million_fldc/

[Jonesd]

Counterparty 101 Tutorial Series

We're working on video series to explain Counterparty: Counteroarty 101. The first three videos are ready and we plan on releasing one or two of these videos a week.

Enjoy the first three!

         

[FoldingCoin]

Counterparty 101 Tutorial Series

We're working on video series to explain Counterparty: Counteroarty 101. The first three videos are ready and we plan on releasing one or two of these videos a week.

Enjoy the first three!

         

Looks good! Thanks for posting these and editing these Jones!

[Palad1n]

hello has octo and scotcoin been paid for this month yet?

SCOTCOIN, BITCRYSTALS (Spells of Genesis) have both been paid. We are pushing FDCARD (Spells of Genesis) right now and after that we will push OCTO. Then last we will push FLDC

And what we must do with this FDCARD and BITCRYSTALS ?

They are a very exciting project http://www.spellsofgenesis.com/ BITCRYSTALS is actual in game currency for the game "Spells of Genesis" being released soon. You can burn BITCRYSTALS for packs of cards. FDCARD is a special card in the game that you can only acquire via Folding. Spells is a Counterparty project you should for sure be watching closely

Well.. OK.

Counterparty is a very fucking system, constant problems with it. Impossible at times to get into your account, do not come the window with an OK button for a long time. All this enrages and irritates.
I'd add that the counterparty is uncomfortable, crude and tedious system

Counterwallet is very buggy I agree, they hope to have a gui desktop client by summer which should solve the issues. Unlike other bitcoin 2.0 projects (ether run and mastercoin) they have actually released. Good things take time so please be patient as this system has so much potential. I do understand the frustration though.

But i thought your problem was with folding not counterwallet, is you cpu still folding? Or was the issue you have to deal with counterwallet?

No, with folding OK ) And problem only with counter...
I turned off my GPU rigs, because now folding not very profitable and consumes more electricity than is profitable. Now folding only 2 cards, from time to time.

[FoldingCoin]

I wish I had spoken up about this sooner but for one I didn't expect this vote to pass and second I was kind of in awe that it actually did. I'm not sure active folders (i.e. the only ones who could weigh in on this vote) understood the kind of precedent that was set by this Yes vote and my hope is that it will be ignored as invalid for the reasons below. The recent vote grants 100M FLDC to the developers which seems like a good thing if you want to support the project. The dev team seems to be have a reasonable plan for spending these FLDC to pay for daily BTC distribution fees and for development.

When I got involved in FoldingCoin it was primarily because I saw FLDC as a way to invest to support others folding. I never had any intention of folding but I knew that buying some FLDC would indirectly support others. By keeping some tokens off the market, folding becomes more profitable and more folders should get involved. This seems to have been going well and the introduction of merged-folding showed that development continues to be interesting and productive.

Getting to the point...

I believe that by the rules previously adopted by the project and its participants, this 100M FLDC vote is invalid. My reasoning is as follows.

From the first vote, the following rule was included:

We should specify that a given vote's results cannot be struck down or amended for a calendar year. That way the results will have a lasting impact and preserve the value of the vote. Idea by @dgiors

That very first vote passed with yes, specifying that the distribution schedule should be as follows:

Once 500,000,000 FLDC are distributed change the daily distribution to 250,000 FLDC
Once 750,000,000 FLDC are distributed, change the daily distribution to 125,000 FLDC
Once 875,000,000 FLDC are distributed, change the daily distribution to 62,500 FLDC
Once 937,500,000 FLDC are distributed, change the daily distribution to 31,250 FLDC
Once 968,750,000 FLDC are distributed, change the daily distribution to 15,625 FLDC
And so on

Source: http://foldingcoin.net/fldc-voting/

Since selling 100M FLDC would require that this distribution schedule be modified at least as it appears on the calendar, that would count as an amendment which would not be valid. I can see how the wording above leaves open the possibility that some massive distribution of FLDC could happen at any time, the spirit and timeline would be modified substantially so I do see this as an amendment. It is also somewhat inconceivable that anyone with an interest in this project would want to see future distribution modified in any way that does not take into account every participant in the project (i.e. holders too).

I have a lot of respect for the dev team and Somebody needs to pay the distribution fees but I fear that this vote goes about it the wrong way. If the vote were to be honored, there is little one can say to assure holders that future tokens won't be distributed outside the previously-agreed-to schedule.

I think it's a clear mistake to pull tokens from future distribution to fund operating costs. My hope is that this vote can be ignored and future votes return to including all holders, not just active folders, for the good of FLDC's value and the mission of encouraging folders long-term. As the team has mentioned, there are solutions to the 0.015 BTC distribution cost that are possible and it's better that we discuss the options there than tinker with the fundamental economics of FoldingCoin.

Thanks,

weex

This is actually an interesting point. I am out and about right now but will be back home soon. Let me look further into this and talk with the team and I absolutely encourage the community to put their two cents in on this subject. So far right now since no guideline was set on when or how we are to handle the 100 million FLDC, we currently have them isolated and are not moving them until a solid plan is set.

I would like to say that blockchain voting is a new concept, and obviously we have discovered there are issues with the way the current voting system is setup. That is why i am glad that no vote is going on this month and disappointed that the vote that has just passed was not vetted more properly by myself as the points you bring up could be a potential conflict of interest.

Its still a new and exciting place, and to my knowledge no one else has done votes the way we are holding them, so since we are the first we are running into the growing pains that others would should they have been the first. SWARM and PETAMINE has attempted to do votes in the past and have actually discontinued them for now due to issues like this. I think though we are involving our community pretty well in this and having a controversial vote like the previous one is getting us to think about things more and more.

Thanks as always Weex, im glad your a part of this community

[Jonesd]

I wish I had spoken up about this sooner but for one I didn't expect this vote to pass and second I was kind of in awe that it actually did. I'm not sure active folders (i.e. the only ones who could weigh in on this vote) understood the kind of precedent that was set by this Yes vote and my hope is that it will be ignored as invalid for the reasons below. The recent vote grants 100M FLDC to the developers which seems like a good thing if you want to support the project. The dev team seems to be have a reasonable plan for spending these FLDC to pay for daily BTC distribution fees and for development.

When I got involved in FoldingCoin it was primarily because I saw FLDC as a way to invest to support others folding. I never had any intention of folding but I knew that buying some FLDC would indirectly support others. By keeping some tokens off the market, folding becomes more profitable and more folders should get involved. This seems to have been going well and the introduction of merged-folding showed that development continues to be interesting and productive.

Getting to the point...

I believe that by the rules previously adopted by the project and its participants, this 100M FLDC vote is invalid. My reasoning is as follows.

From the first vote, the following rule was included:

We should specify that a given vote's results cannot be struck down or amended for a calendar year. That way the results will have a lasting impact and preserve the value of the vote. Idea by @dgiors

That very first vote passed with yes, specifying that the distribution schedule should be as follows:

Once 500,000,000 FLDC are distributed change the daily distribution to 250,000 FLDC
Once 750,000,000 FLDC are distributed, change the daily distribution to 125,000 FLDC
Once 875,000,000 FLDC are distributed, change the daily distribution to 62,500 FLDC
Once 937,500,000 FLDC are distributed, change the daily distribution to 31,250 FLDC
Once 968,750,000 FLDC are distributed, change the daily distribution to 15,625 FLDC
And so on

Source: http://foldingcoin.net/fldc-voting/

Since selling 100M FLDC would require that this distribution schedule be modified at least as it appears on the calendar, that would count as an amendment which would not be valid. I can see how the wording above leaves open the possibility that some massive distribution of FLDC could happen at any time, the spirit and timeline would be modified substantially so I do see this as an amendment. It is also somewhat inconceivable that anyone with an interest in this project would want to see future distribution modified in any way that does not take into account every participant in the project (i.e. holders too).

I have a lot of respect for the dev team and Somebody needs to pay the distribution fees but I fear that this vote goes about it the wrong way. If the vote were to be honored, there is little one can say to assure holders that future tokens won't be distributed outside the previously-agreed-to schedule.

I think it's a clear mistake to pull tokens from future distribution to fund operating costs. My hope is that this vote can be ignored and future votes return to including all holders, not just active folders, for the good of FLDC's value and the mission of encouraging folders long-term. As the team has mentioned, there are solutions to the 0.015 BTC distribution cost that are possible and it's better that we discuss the options there than tinker with the fundamental economics of FoldingCoin.

Thanks,

weex

This is actually an interesting point. I am out and about right now but will be back home soon. Let me look further into this and talk with the team and I absolutely encourage the community to put their two cents in on this subject. So far right now since no guideline was set on when or how we are to handle the 100 million FLDC, we currently have them isolated and are not moving them until a solid plan is set.

I would like to say that blockchain voting is a new concept, and obviously we have discovered there are issues with the way the current voting system is setup. That is why i am glad that no vote is going on this month and disappointed that the vote that has just passed was not vetted more properly by myself as the points you bring up could be a potential conflict of interest.

Its still a new and exciting place, and to my knowledge no one else has done votes the way we are holding them, so since we are the first we are running into the growing pains that others would should they have been the first. SWARM and PETAMINE has attempted to do votes in the past and have actually discontinued them for now due to issues like this. I think though we are involving our community pretty well in this and having a controversial vote like the previous one is getting us to think about things more and more.

Thanks as always Weex, im glad your a part of this community

I think there is no conflict,  as this distribution talks about halving.  It would simply happen sooner,  I suppose. 

Since we're still in the early days, it might make sense to require more than a majority for big decisions like this.  Perhaps like it is common in some countries to go for 2/3 in favor when it concerns the constitution for example.

[FoldingCoin]

Join the public meeting with this direct link https://plus.google.com/hangouts/_/hoaevent/AP36tYeO-qfEauyDSGZMTjd-ZPP9e0y4znApteTXnPYa7DlJN4Sx0Q

Come join us and talk about what ever you would like to with the dev team or simply listen in to the updates we have for the community!

[Jonesd]

Join the public meeting with this direct link https://plus.google.com/hangouts/_/hoaevent/AP36tYeO-qfEauyDSGZMTjd-ZPP9e0y4znApteTXnPYa7DlJN4Sx0Q

Come join us and talk about what ever you would like to with the dev team or simply listen in to the updates we have for the community!

You can also watch it via this link: https://www.youtube.com/watch?v=byPS_AxncBE

[Jonesd]

Video of Monthly Meeting #2

We had an interesting monthly meeting yesterday.

You can view it here:

[K210]

price falling

[FoldingCoin]

price falling

Chad is working hard on the marketplace so we can add value to FLDC to raise the price. Please be patient as we develop new and exciting applications. You can watch the recent Public meeting in the above comments to get a full picture on the next months projects we have lined up