[ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0

[joehoebot]

thank you so much. that is very kind of you.  will correct it now.

[FoldingCoin]

thank you so much. that is very kind of you.  will correct it now.

No problem thats what we are here for

[hallared]

Good idea for an admirable cause. How many FLDC is currently in circulation?

[Jonesd]

Good idea for an admirable cause. How many FLDC is currently in circulation?

Currently, we're somewhere around 120mln. Distribution is now at 500.000 FLDC a day, but this will halve somewhere in 2017 when we have given out half of the coins.

[FoldingCoin]

Distribution has been completed, my apologies for missing it last night. I had some family matters to tend to.

57 million FAH credits among 249 FLDC participants, awesome job everyone

[SalimNagamato]

i wish that we can pass the current insulting prices...
if it can ever stabilize above 1k satoshis, fundraiser would be cheap
the distribution and the work+responsibility you are doing, costs plenty

also i wish more could donate with indiegogo to feed coin's founder

only problem i see with the coin - is centralized distribution
I know we can watch the blockchain for suspicious movements, but what guarantee can you give us, nothing would be moved from distribution wallet to an exchange ?

I was thinking today about how we can help dev's financial issues:
maybe take 50 to 100 million coins from the Distribution wallet, and put them as a sell wall in exchanges. something like IPO
we could vote on something like this
if you can sell 50 million at current trading rate as IPO. i wouldn't mind you getting that money. for helping you and for the future of this currency.

i hope i am clear and not typing nonsense

[FoldingCoin]

i wish that we can pass the current insulting prices...
if it can ever stabilize above 1k satoshis, fundraiser would be cheap
the distribution and the work+responsibility you are doing, costs plenty

also i wish more could donate with indiegogo to feed coin's founder

only problem i see with the coin - is centralized distribution
I know we can watch the blockchain for suspicious movements, but what guarantee can you give us, nothing would be moved from distribution wallet to an exchange ?

I was thinking today about how we can help dev's financial issues:
maybe take 50 to 100 million coins from the Distribution wallet, and put them as a sell wall in exchanges. something like IPO
we could vote on something like this
if you can sell 50 million at current trading rate as IPO. i wouldn't mind you getting that money. for helping you and for the future of this currency.

i hope i am clear and not typing nonsense

I think that is a fantastic idea, especially since it is coming from a community member and not us.

Doing the quick math, that would give us 20k which would be enough for us to get started on some great new features we will be talking about tomorrow on the public meeting http://foldingcoin.net/public-monthly-meetings/

Today is the last day to submit an idea for a vote, i think it would be great for you to do this, post your idea with complete details and rules to the crowdsale idea here https://letstalkbitcoin.com/forum/post/phase-1-vote-for-april-2015

[FoldingCoin]

i wish that we can pass the current insulting prices...
if it can ever stabilize above 1k satoshis, fundraiser would be cheap
the distribution and the work+responsibility you are doing, costs plenty

also i wish more could donate with indiegogo to feed coin's founder

only problem i see with the coin - is centralized distribution
I know we can watch the blockchain for suspicious movements, but what guarantee can you give us, nothing would be moved from distribution wallet to an exchange ?

I was thinking today about how we can help dev's financial issues:
maybe take 50 to 100 million coins from the Distribution wallet, and put them as a sell wall in exchanges. something like IPO
we could vote on something like this
if you can sell 50 million at current trading rate as IPO. i wouldn't mind you getting that money. for helping you and for the future of this currency.

i hope i am clear and not typing nonsense

To answer your question about centralization, that is a problem that sadly we do not have a solution to yet due to the nature of counterparty, however we have taken the best possible measures to create as much trust as we can:

• All but 4 weeks of funds are held in an offline wallet http://foldingcoin.net/distribution/
• We are registered with the Indiana government as a non profit putting responsibility and liability on our trust https://secure.in.gov/sos/online_corps/name_search_results.aspx?search_name=foldingcoin&search_type=exact&client_id=&submit.x=0&submit.y=0&search_mode=search
• All developers for FLDC must be completely transparent about who they are http://foldingcoin.net/fldc-dev-team/
• We post constantly any and all issues/updates that we run into http://foldingcoin.net/news/
• Anything else you think we should be doing to earn even more trust in the community i would love to hear

[FoldingCoin]

i wish that we can pass the current insulting prices...
if it can ever stabilize above 1k satoshis, fundraiser would be cheap
the distribution and the work+responsibility you are doing, costs plenty

also i wish more could donate with indiegogo to feed coin's founder

only problem i see with the coin - is centralized distribution
I know we can watch the blockchain for suspicious movements, but what guarantee can you give us, nothing would be moved from distribution wallet to an exchange ?

I was thinking today about how we can help dev's financial issues:
maybe take 50 to 100 million coins from the Distribution wallet, and put them as a sell wall in exchanges. something like IPO
we could vote on something like this
if you can sell 50 million at current trading rate as IPO. i wouldn't mind you getting that money. for helping you and for the future of this currency.

i hope i am clear and not typing nonsense

So I really like this idea and I have suggested it on the VOTE forum notating you as the idea guy Here is what I wrote:

So @SalimNagamato from bitcointalk made a suggestion that I think could be beneficial to the entire community of FLDC and I wish to take the idea and put it up for vote. You can see the original comment here https://bitcointalk.org/index.php?topic=781352.msg10615003#msg10615003

In order to help fund the FoldingCoin Inc. project, FoldingCoin Inc. has plans of doing a crowd funding campaign here in the near future for some great new features that we will be talking about in the first public FLDC meeting taking place Sunday March 1st, 2015 at 3 pm EST. For more information and the link to the event please click here http://foldingcoin.net/public-monthly-meetings/

However, this crowd funding platform will still be donation based since all the features we will be releasing will be open source and will help the FLDC and Counterparty community as a whole. We are also non profit and have nothing to give in return besides the value of the features we are releasing them selves which we feel are worth the price in which they will cost.

@SalimNagamato suggested that we raise BTC in a different way: sell off some undistributed FLDC. Now this is a decision that the FoldingCoin Inc. team cannot make but I thought it would be good to put it up for a vote. So here is how I envision this could work and the benefits that will come from it:

Sell 100 million undistributed FLDC
Selling 100,000,000 FLDC will not only raise us a good amount of funds to be able to implement some great new features we wish to build, but will also introduce a good amount of FLDC into the market thus increasing the adoption and holders of FLDC.

Sell the FLDC for the current exchange rate
FoldingCoin Inc. has had a fundraising going on for sometime now of selling 1,000,000 FLDC that was generated out of the devs pockets at a premium of 1000 Satoshis a piece. We have had some community members buy some FLDC off of this fundraiser, however since you can buy it at an exchange for a lower price, we have only raised 2.8 BTC and this has been going on for almost 5 months. This makes sense as why would one pay almost 10x the value of something when you can buy it cheaper.

Selling 100,000,000 FLDC at the rate of 150 Satoshis would give the dev team 150 BTC which equals $37,500 that can be used to implement the following features we will talk about during the first FLDC public meeting:

• Installation package - The installation package will be a downloadable exe from the FoldingCoin website that will automatically install and setup the FAH program, a Counterwallet, integrated news and future FLDC features, future Counterparty programs like Metadisk (so you can easily farm Storj while folding), alerts (example: if your computer isn't folding you will be alerted), and many other features. This will also automatically setup ones donor name correctly so there are no issues with miss spelling a donor name. This will make it overall much easier for someone who is not familiar with FLDC or FAH to start earning FLDC and the Merged Folding Tokens right away.
  
  
• 501(c)3 Status - We will be able to fund a crypto accountant to get FoldingCoin Inc. fully compliant with US regulation as a full tax exempt non profit. This will allow us to be among the first (not the first) crypto charities out there.
  
  
• Distribution costs - Currently it cost FoldingCoin Inc. 0.016 BTC per day in order to fully payout all participants their daily FLDC earned. As we continue to grow this gets more and more expensive. We have future plans for creating something we are calling the "Off Chain Distribution System" in which we will put the 0.00006 BTC cost of a single donor receiving FLDC per day on them. It is not much of a cost for a single person to pay that, but since we pay out almost 300 addresses per day now, this is getting costly. This is a future plan and raising money now will help us get some other features we need done first so we can develop the Off Chain system later this year.
  
  
• Additional Dedicated VPS - Currently James has a new VPS setup that hosts and runs the statistics everyday instead of using the websites resources. This VPS will be expanded to also host our statistics page that will allow donors to search through the FLDC statistics in a more feature rich environment. Please read our road map here http://jsfiddle.net/PookTwo/eyh31bg1/embedded/result/ for more information on how we plan to implement this. But paying for additional VPS's will allow us to have a VPS for a test network environment, one for a website hosting, and one for the future plans for a Counterparty Marketplace (similar to an ebay) in which we will be talking about in depth during the FLDC public meeting.
  
  
• Developer Funding - with additional funding, we can actually pay our devs and some devs we wish to bring on for the incredible work they have done for FoldingCoin Inc. Though we have done this so far because we love this project and have not expected anything in return, FoldingCoin Inc. has become more than a project that Myself and James worked on during our off time, it has developed into a project with 5 dedicated devs and an entire community behind us that loves what we are trying to accomplish. I (Robert) have gone full time to help grow FoldingCoin Inc, but as you all know I still do have rent to pay. Right now I am financially stable enough to keep doing this full time, but as soon as July I may have to go back to work unless some money starts coming in.
  
  
• Podcast - Myself and Jona Derks (FLDC Public Relations) plan on doing a podcast about not just FoldingCoin, but all Counterparty projects and updates. This will require some new equipment to ensure that the audio and video are smooth. It will also take additional time for Jona who still has a full time job outside of FoldingCoin Inc.

This could be a great opportunity for the FLDC community, the FoldingCoin Inc development team, the price of FoldingCoin, and the overall adoption that can be brought to Folding@home. Thank you everyone!

[haitch]

i wish that we can pass the current insulting prices...
if it can ever stabilize above 1k satoshis, fundraiser would be cheap
the distribution and the work+responsibility you are doing, costs plenty

also i wish more could donate with indiegogo to feed coin's founder

only problem i see with the coin - is centralized distribution
I know we can watch the blockchain for suspicious movements, but what guarantee can you give us, nothing would be moved from distribution wallet to an exchange ?

I was thinking today about how we can help dev's financial issues:
maybe take 50 to 100 million coins from the Distribution wallet, and put them as a sell wall in exchanges. something like IPO
we could vote on something like this
if you can sell 50 million at current trading rate as IPO. i wouldn't mind you getting that money. for helping you and for the future of this currency.

i hope i am clear and not typing nonsense

Sell 100 million undistributed FLDC
Selling 100,000,000 FLDC will not only raise us a good amount of funds to be able to implement some great new features we wish to build, but will also introduce a good amount of FLDC into the market thus increasing the adoption and holders of FLDC.

1) Putting in a sell wall of 100M coins will keep the value of the coin at or below 150 satoshis
2) On Poloniex at least the FLDC volume has been < 0.5 BTC/day. Dropping a sell wall of 100M FLDC, supporters might nibble at it, but it's probably going to guarantee an FLDC value of 150 or less until it's fulfilled maybe in a year or so .....

[FoldingCoin]

i wish that we can pass the current insulting prices...
if it can ever stabilize above 1k satoshis, fundraiser would be cheap
the distribution and the work+responsibility you are doing, costs plenty

also i wish more could donate with indiegogo to feed coin's founder

only problem i see with the coin - is centralized distribution
I know we can watch the blockchain for suspicious movements, but what guarantee can you give us, nothing would be moved from distribution wallet to an exchange ?

I was thinking today about how we can help dev's financial issues:
maybe take 50 to 100 million coins from the Distribution wallet, and put them as a sell wall in exchanges. something like IPO
we could vote on something like this
if you can sell 50 million at current trading rate as IPO. i wouldn't mind you getting that money. for helping you and for the future of this currency.

i hope i am clear and not typing nonsense

Sell 100 million undistributed FLDC
Selling 100,000,000 FLDC will not only raise us a good amount of funds to be able to implement some great new features we wish to build, but will also introduce a good amount of FLDC into the market thus increasing the adoption and holders of FLDC.

1) Putting in a sell wall of 100M coins will keep the value of the coin at or below 150 satoshis
2) On Poloniex at least the FLDC volume has been < 0.5 BTC/day. Dropping a sell wall of 100M FLDC, supporters might nibble at it, but it's probably going to guarantee an FLDC value of 150 or less until it's fulfilled maybe in a year or so .....

You should attend the public FLDC meeting tomorrow http://foldingcoin.net/public-monthly-meetings/ and both express your thoughts about this and listen to the new things we will be developing this year. The features that we want to implement are fantastic and I feel they will greatly increase the value of FLDC.

However this will go up for a vote for the FLDC community to decide, but it is a fact that we need to raise funds in order to advance FLDC more then we have. We are to a point in which money is becoming important so this solution does not sound bad to me, I would not have even thought of it so i am glad someone suggested it. I will say that you might be right, it could keep the price at 150 satoshis for a little bit, but if the features we want to implement get funded we feel the price could skyrocket. Without us being able to raise money, the price could go way down with lack of feature advancement.

If you feel strongly about it, you will be able to cast your vote for NO instead of YES. If it does not pass, this will not be allowed to go up for a VOTE again for another whole calendar year. Whatever the outcome ends up being, the dev team will stay strong and continue to develop FoldingCoin Inc to the best of our abilities.

[FoldingCoin]

We have a LOT of distributions going out tonight. I will be up late doing them so they all should be done by around 8 am. Here is what we got to distribute tonight:

• FLDC Payout - 259 addresses
• FLDC Bounties - 18 addresses
• SCOTCOIN Payout - 170 addresses
• FLDCVOTEIII for March Vote - 502 addresses
• TOPFOLDER for the top 20 folders of Feb - 20 addresses

[Askenaz]

Hey guys just a couple of things:

1. The idea is good, the project is good, the coin is good, the distribution it's fair, and it's for a good cause, BUT this coin needs lot of marketing to go to it's real value. Guys, there's no buy support cause anyone knows about FLDC, and in my opinion, it's a crime. I mean, FLDC it's better and fair than most of shit out there, but nobody's talking about it! If you concentrate just a little in marketing, the coin price will explode., really.

2. I understand the 100 M crowdsale plan, BUT again, without more marketing it will no succed. I've seen crowdsales of +300 BTC buying PURE SHIT, but they had a good marketing campaign. A 40 BTC crowdsale for a good coin like this it's not complicated to achieve, but I repeat, + people has to know, trust and support this fantastic coin!

[FoldingCoin]

Hey guys just a couple of things:

1. The idea is good, the project is good, the coin is good, the distribution it's fair, and it's for a good cause, BUT this coin needs lot of marketing to go to it's real value. Guys, there's no buy support cause anyone knows about FLDC, and in my opinion, it's a crime. I mean, FLDC it's better and fair than most of shit out there, but nobody's talking about it! If you concentrate just a little in marketing, the coin price will explode., really.

2. I understand the 100 M crowdsale plan, BUT again, without more marketing it will no succed. I've seen crowdsales of +300 BTC buying PURE SHIT, but they had a good marketing campaign. A 40 BTC crowdsale for a good coin like this it's not complicated to achieve, but I repeat, + people has to know, trust and support this fantastic coin!

Thank you for your kind words

We are actually talking with some marketing folks now, but the big thing is money, we dont have much sadly I would love some additional advise if you have the experience/knowledge of what we could be doing better.

The folks we are talking with about marketing may take money after we do some sort of crowdsale, but I could not agree with you more, the marketing department is lacking right now.

[FoldingCoin]

TOPFOLDER and FLDCVOTEIII

Posted on March 1, 2015 by Robert Ross

FLDCVOTEIII – This is an important vote that is going on. A donor suggested that FoldingCoin Inc sells 100,000,000 undistributed FLDC at the current exchange rate to help raise funds for the FoldingCoin Inc. project. This is the first vote using the new system in which only the Folders of February received VOTE tokens and the VOTE tokens got maxed out at 500,000 (only 5 Folders got maxed out). Please visit THE VOTE PAGE for more information and please cast your vote for this important vote.

TOPFOLDER – Last months top 20 Folders (most FLDC earned) received a TOPFOLDER token that they can currently redeem for a website advertising slot (1 TOPFOLDER = 1 week) and a sticky post in the private forums (1 TOPFOLDER = 1 week). Please see THE VOTING RULES for complete details. We will add more things you can do with the TOPFOLDER tokens in time so for now if you got one, you may want to hold onto it. Here are February’s TOP 20 FOLDERS

[SalimNagamato]

http://blockscan.com/address/1NXWshzxopReEQuqpuDfw5UEBED1erdd25
my mining partner (we split power bill and f@h earned fldc by half:))  didn't get FLDCVOTEIII

[FoldingCoin]

http://blockscan.com/address/1NXWshzxopReEQuqpuDfw5UEBED1erdd25
my mining partner (we split power bill and f@h earned fldc by half:))  didn't get FLDCVOTEIII

looking into it right now

[FoldingCoin]

http://blockscan.com/address/1NXWshzxopReEQuqpuDfw5UEBED1erdd25
my mining partner (we split power bill and f@h earned fldc by half:))  didn't get FLDCVOTEIII

What is your actual FAH donor name?

It appears that this address http://blockscan.com/address/1NoGeurjdWe4bW8WBhYWMrXF4FS9drNaSC is what got the FLDCVOTEIII, is this your actual folding address?

[SalimNagamato]

http://blockscan.com/address/1NXWshzxopReEQuqpuDfw5UEBED1erdd25
my mining partner (we split power bill and f@h earned fldc by half:))  didn't get FLDCVOTEIII

What is your actual FAH donor name?

it changed a few times
maybe he didn't get voting because i send him half once in awhile, since January


edit: i was thinking the fldcvote is distributed to current holders
not previous months balances

[FoldingCoin]

http://blockscan.com/address/1NXWshzxopReEQuqpuDfw5UEBED1erdd25
my mining partner (we split power bill and f@h earned fldc by half:))  didn't get FLDCVOTEIII

What is your actual FAH donor name?

it changed a few times
maybe he didn't get voting because i send him half once in awhile, since January

Yeah, it appears that your tokens are going to this address http://blockscan.com/address/1NoGeurjdWe4bW8WBhYWMrXF4FS9drNaSC then they are being transferred to the address you gave me. That is also where your SCOTCOIN and POWC has gone.

Remember, the FLDCVOTE tokens now go to whoever folded the previous month, not who ever has FLDC