[ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0

[SalimNagamato]

my cold storage did receive fldcvoteIII, and i never used it for folding@home user... strange

[FoldingCoin]

my cold storage did receive fldcvoteIII, and i never used it for folding@home user... strange

Are you sure that you dont accidentally have your donorname set to your cold storage? What is your cold storage address?

[SalimNagamato]

my cold storage did receive fldcvoteIII, and i never used it for folding@home user... strange

Are you sure that you dont accidentally have your donorname set to your cold storage? What is your cold storage address?

my mistake
it got voteII not voteIII

so it seem fine

[FoldingCoin]

my cold storage did receive fldcvoteIII, and i never used it for folding@home user... strange

Are you sure that you dont accidentally have your donorname set to your cold storage? What is your cold storage address?

my mistake
it got voteII not voteIII

so it seem fine

Glad to hear it

Also Folders:

All the distributions are completed except for the daily distribution of FLDC which is running right now. While this runs I will be going off to bed to get ready for the public FLDC meeting being held in about 6.5 hours http://foldingcoin.net/public-monthly-meetings/

Hope to see you all there

[SalimNagamato]

Awarding Period Credits: 62,614,021

[FoldingCoin]

Awarding Period Credits: 62,614,021

Very exciting stuff

Everyone the meeting starts in about 8 minutes, please come attend and ask some questions http://foldingcoin.net/public-monthly-meetings/

[FoldingCoin]

To join in on video and audio https://plus.google.com/hangouts/_/hoaevent/AP36tYcTOCxwCo6q5rj6vII2Rolpj7OMUYLmCNJBwbgeqvRcwCZnmQ

[FoldingCoin]

First public meeting recap

Posted on March 2, 2015 by Robert Ross

Here is the YouTube Link https://www.youtube.com/watch?v=gONQQH2TKYU&list=PLzAjhhTQ6zqdiMBJVy-FHLeWbtMtjA11s for the public meeting that took place on March 1st 2015 from 3 pm EST – 4:40 pm EST. FoldingCoin Inc. developers that attended the meeting:

Robert Ross – Director
Jona Derks – Public Relations
Discussion topics

Robert recapped the 5 distributions that had been completed the night before. The two notable ones where the FLDCVOTEIII (which is the vote taking place during March that will decide if the FLDC team should take 100,000,000 undistributed FLDC and sell it off at the current market rate to raise funding, for more information please click here http://foldingcoin.net/fldc-voting/) and the TOPFOLDER token (which will be redeemable for various things that the FoldingCoin Inc team will offer. The only two things you can use it for are website advertising and sticky forum post on the private forums. Please email rross@foldingcoin.net for more information).

Jona talked about himself and what he brings to the FoldingCoin team along with recaps on what the other FoldingCoin developers bring to the table.

We discussed the futures plans that FoldingCoin Inc. is looking to create. We also discussed that these features will cost money and we are to a point in which we need more funding and more developers. Anyone looking to join the dev team, please fill out This Form https://docs.google.com/forms/d/1Z6DJ5xRZyd-Ehga3C4hedkRx6NjEeuCbq9ELqV_jumo/viewform . Here are the future plans that FoldingCoin Inc. is looking to build:

All in one installation package – This will be a Windows exe install package that will include all of the components of the FoldingCoin and Merged Folding setup in a quick and easy installation. This will also include automatically setting your donor name, setting up a counterwallet, installing additional Counterparty projects (optional, but an example is Driveshare from Storj), and create a Main Menu style page that will link the donor to the various things FoldingCoin Inc. will be introducing to the community. Also enabling alert will be great if someone doesnt realize they are not folding because of a computer restart or something of that nature. For a visual diagram of this road map, please CLICK HERE https://docs.google.com/drawings/d/1pNHzg-h8KNfz17W3LjFiRJlnAQr7dPIY5ffUncSp3FE/pub?w=3993&h=4567 and for a detailed description of the diagram please CLICK HERE https://docs.google.com/document/d/14yaBsovoZR14oB_-Ud917luTmB2cJpPuwdmQz-xJoUw/pub

FoldingCoin Stats Page – Roughly half of the FLDC Folders have transferred over to Merged Folding since the release on 2/5/2015. Many of the other half of FLDC participants who have not switched to Merged Folding are not doing so because they do not want to start their overall FAH statistics over. FoldingCoin Inc. recognizes this and we have plans in place to give a reason to switch your donor name. Found on our temporary statistics page HERE http://jsfiddle.net/PookTwo/eyh31bg1/embedded/result/ you will see a road map with plans of a future statistics page that will be feature rich allowing donors to search through FLDC records in a friendlier environment. One of the cool features that will be in the new statistics page is the ability for FoldingCoin Inc. to merge together two different donor names that share a common Bitcoin address. By doing this, a donor who has been using the original format of just their Counterwallet address will now be able to add the prefix to the beginning of that same address and their continued statistics will be merged together. This way they can still see their overall progress that they have folded on both donor names. Using signed messaging, we can also combine two different Bitcoin addresses if someone has been folding on two different Bitcoin addresses. This method will require the donor to sign messages to FoldingCoin Inc with the BTC addresses they want to merge. We feel this will drive more folders to join in on Merged Folding. Though it is good to note, that the Stanford statistics will still show the two donor names as separate. We have some new exciting potential tokens being added to Merged Folding as well and that should encourage participants to also make the change so they can earn all the great tokens on our platform. For a visual diagram please CLICK HERE https://docs.google.com/drawings/d/1mVT43Vrmdn8Xq_qLRFWt95Ymlk0QE_U00lCS2LddzDk/pub?w=4845&h=2913 and for a detailed description please CLICK HERE https://docs.google.com/document/d/1iPE4_4VaQitgVvvq1rQ5mr9CbeiXz0UA9N4qEBcP6fo/pub

Counterparty Marketplace – One of the big goals we wish to complete is creating a Marketplace like ebay for users to buy and sell physical goods. We have our first draft of how we envision this to be laid out, but will still need to make adjustments to the overall plan and fine tweak it. We plan on collecting fees in FLDC for various things that you can do on this site. For example: To post an item you must pay 100 FLDC in addition to 0.001 BTC to post it. For a visual diagram please CLICK HERE https://docs.google.com/document/d/1iPE4_4VaQitgVvvq1rQ5mr9CbeiXz0UA9N4qEBcP6fo/pub and for a detailed description please CLICK HERE https://docs.google.com/document/d/1eNpe44BoMUsKdYQKsJW8JV34NYbFJS3AZHR26DV-fgE/pub

Off Chain Distribution System – The distribution costs for FoldingCoin is beginning to get expensive and we need a system in which the donor pays the transaction fee. For a single donor to pay the transaction cost is 0.000178 BTC in comparison to FoldingCoin Inc paying 0.00006 BTC per each donor per day. We need a system where we could calculate a folder’s FLDC earned in an “FLDC earning period” and credit these to a secure account on our FoldingCoin system. Then we would offer a system where the folder could do a withdrawal of their FLDC balance to their own Counterparty wallet any time they desire. For a visual diagram please CLICK HERE https://docs.google.com/drawings/d/1RmZNq0UFUCz_SyZO9s4T7fNt1QFXN_-zKPy_ui1Ll-4/pub?w=4800&h=4800 and for a detailed description please CLICK HERE https://docs.google.com/document/d/1H-Mww7tulDmLVT_JDQ0ZlA0NovyRVKCOl1IZC5Vdsj0/pub

[SalimNagamato]

fell asleep and missed it (tired from work and some sleepless nights with customer's servers issues)
thanks for recording it in youtube

IPO/crowdsale price can maybe be lower than 150 satoshis.. BTC rising ?
fldc prices not so good at moment..

[FoldingCoin]

fell asleep and missed it (tired from work and some sleepless nights with customer's servers issues)
thanks for recording it in youtube

IPO/crowdsale price can maybe be lower than 150 satoshis.. BTC rising ?
fldc prices not so good at moment..

if the vote passes the amount will be adjusted to the current market rate. We also are discussing exactly how we should do the sale, we may have to do it in sections to keep the price current

[FoldingCoin]

On February 27, 2015, Public Relations representative Jona Derks discovered a mistake in the amount of FoldingCoin available for future distribution. By delving through the distribution records on Blockscan, Jona found out that on October 7th, 2014, from distribution address 1JbiP68FdKhgeEJataAjezS2DPusHte2nq, an accidental 5,000,000 FLDC was sent  instead of the regular 500,000 FLDC.

Due to safeguards put in place by the distribution server, only half a million FLDC were distributed and the remaining 4.5 million coins were simply stuck in the distribution wallet of that day. Robert was quick to correct this mistake and returned the funds to the future distribution address 19xKdggeh1JrBMYZnYjzcoGh5wEvaXQhpA that will start distributing FLDC beginning March 19th, 2015. Due to this error, the actual amount of coins in circulation is not 122,500,000 FLDC , but 118,000,000 FLDC. This will be corrected on CoinMarketCap to reflect the correct market cap.

The issue is now resolved and we will continue being transparent with the community about mishaps like this. We want to make everyone aware that this occurred and has been fixed. Thank you Jona for your dedication in resolving the issue.

Happy folding everyone

[Palad1n]

FoldingCoin, I found an error on the page http://foldingcoin.net/fldc-voting/ "You must have a linked Counpterwallet to..." in word Counpterwallet, letter "p" extra 

[FoldingCoin]

FoldingCoin, I found an error on the page http://foldingcoin.net/fldc-voting/ "You must have a linked Counpterwallet to..." in word Counpterwallet, letter "p" extra  

I have that linked, thank you

Also, you are a big time folder, I would love your opinion on the upcoming vote. Here is a conversation i had with a donor:

5
[9:42:31 AM]donor: Hi Robert, You intend to double the available supply by selling 100.000.000 FLDC and you expect this to happen at a rate of 150 satoshi's everyone that has not already sold their FLDC will be running for their lives, you're lucky if you get a fraction of what you are hoping for. I understand you mean well but your actions are killing any value FLDC might ever get. Besides the philosophical reasoning, please explain to me why would anyone would hold FLDC.
[11:23:50 AM] Robert Ross: this is not passed yet, thats why we are simply putting the idea up for a vote http://foldingcoin.net/fldc-voting/ This was an idea from a community member and that is the power of voting. We are sending out tweets everyday to make sure everyone puts in their votes because you are correct, this is a very important vote that could be great or it could be bad. The 150 satoshis was just an example of the current market, it may not stay at this as if this gets passed then we will probably sell it off in sections. Mayn coins have ICOs of over 30% of the total coins and we never had this. But we def do not want to be the ones to decide if this is something that is good for the community, which is why its up for a vote.

If you disagree, please send your vote against this. It is currently day two of the vote and we are not sure how it will turn out, but one thing is certain, we do need money in order to advance the Foldingcoin project and this would be a good way to raise that money. We will stay at the current price (or may even go lower) if we cannot raise funds to implement some of the great features that we want to accomplish. Please watch the public meeting we had yesterday https://www.youtube.com/watch?v=gONQQH2TKYU
[11:26:23 AM] Robert Ross: someone will want to hold FLDC for the features in which we intend to create with the money we raise. The marketplace will drastically increase the value of FLDC because you will be able to use it to pay for transactional costs for the marketplace (though you can buy and sell items on the marketplace with any Counterparty token)
[11:28:58 AM] Robert Ross: oh....i just had an idea that would be great! Would you want to do a video with me to agrue this point and then we can release it on the web? Might be great for everyone to see an agruement for both sides of the vote?
[11:30:07 AM] donor: the market is so fresh and thin, this idea will not leave you anything - by the time your votes get through you'll have 1/10 of what you mentioned.
[11:30:53 AM] donor: And no, I'm not much of a public speaker ;-) and no I still have faith in you so haven't sold anything yet
[11:31:24 AM] donor: Just voicing my very serious concerns and if I look at the market I am not the only one
[11:31:39 AM] Robert Ross: thats good to hear. The platform is great and you could be right, this may be bad, but we do need money very soon and i hope you understand why i think this is a good idea
[11:32:36 AM] Robert Ross: very true, but like most coins out there, the market is strickly speculation for a majority of the time. Currently there is no reseason to hold FLDC because you cannot do anything with it, thats why we need to raise money because that would give something to do with it
[11:41:07 AM] donor: Shouldn't your first priority be to make it usefull then and important within your own concept, its a reward for doing something good (folding) - with your direction, which I mentioned before you are slowly redering FLDC itself useless because of all the merged options, coins that are dedicating their time on cool features now because you do their work. FLDC needs a dedicated clear function and with that you will create a better market for it and thus more funding for yourself.
[11:41:35 AM] donor: who is gonna buy 100.000.000 FLDC
[11:42:40 AM] Robert Ross: i will read this in a minute, i am in a skype
[11:42:55 AM] Robert Ross: but i want to continue this conversation for as much feedback as possilbe
[11:43:24 AM] donor: lol.. enjoy your other skype conversation, I'll have a look at the public meeting
[11:43:34 AM] Robert Ross:
[2:35:16 PM] Robert Ross: This is true Niels, but to implement the features we want to we need the funding. The counterparty marketplace is the one we will be focusing on for bringing adoption to FLDC. Did you get a chance to watch the public meeting? If not, you can read the basic recap here http://foldingcoin.net/2015/03/first-public-meeting-recap/ it goes over the market place and how it can bring value to FLDC

[FoldingCoin]

I agree 100% with donor [Niels], when in need of funding dumping 100.000.000 (double the current available amount of FLDC) into a developing project is not the way to go. Look at what happened to Ripple when that one guy with loads of ripples blinked and suggested he might sell a few...

This is true, (just to state I am not on either side and i have not yet cast my vote, i want to see both opinions first) but think of it this way to play the otherside:

Many coins do ICOs that are somewhere between 30-50% of total coins that will be out there. Also many coins do premines up to 10%. We did neither of those and started with 0 funding. Raising the money by selling FLDC could be an attractive way to earn BTC.

We are still pursuing things like lighthouse, indiegogo, swarm, ext.... so with that in mind we may not need to sell this mass amount of FLDC, but with the right marketing (we are talking to some marketing folks about this potential FLDC sale) this FLDC sale could attract new folks to begin folding as well.

[SalimNagamato]

Try to look at it, as if a Company is looking for investors. and selling shares of the company to the Public..
current market cap of all possible 1000000000 FLDC is 1000 BTC
and it have the potential to grow much more than that.
forgive me if i am wrong, I am not a financial expert. if it hurt the folder's incentive in any way - maybe i was wrong

I saw abandoned coin because the developers couldn't afford keeping the project alive, and some just con everyone and ran off.
I feel that this is not the case here.

this Asset is a brilliant idea and is helping science. should be === gold. and should compete with the top coins
FLDC reward is given only for Folding@home (no ASIC or a known optimized miners, as for now..)

[FoldingCoin]

Try to look at it, as if a Company is looking for investors. and selling shares of the company to the Public..
current market cap of all possible 1000000000 FLDC is 1000 BTC
and it have the potential to grow much more than that.
forgive me if i am wrong, I am not a financial expert. if it hurt the folder's incentive in any way - maybe i was wrong

I saw abandoned coin because the developers couldn't afford keeping the project alive, and some just con everyone and ran off.
I feel that this is not the case here.

this Asset is a brilliant idea and is helping science. should be === gold. and should compete with the top coins
FLDC reward is given only for Folding@home (no ASIC or a known optimized miners, as for now..)

The extraordinary thing though about ASICs is that if an economic sized ASIC was built for folding due to FLDC becoming popular, that only has good benefits to man kind. There is an ASIC for folding, its called the ANTON supercomputer http://en.wikipedia.org/wiki/Anton_%28computer%29 but this is VERY expensive. What if folding became popular enough for someone to invest in creating an economic sized one? Would be great for the battle against cancer

I see the value of both sides of the arguement here, but everyone PLEASE make sure you cast your vote for this. So far this is by far the most important vote we have had http://foldingcoin.net/fldc-voting/

[jjiimm_64]

 So far this is by far the most important vote we have had http://foldingcoin.net/fldc-voting/

1.  why is phase 2 (april) before phase 1 (may)
2.  why cant we discuss this here.. I do not want to signup yet another board to discuss
3.  100M foldcoin is more than the market can bare.  current price is NOT 100 satashis for this much coin
4.  just the word of this sale has dropped the bid to 65 satashis
5.  @ 65 satashis I am turning off my 5.5M ppd  rigs... doesn't pay for the power.

[Askenaz]

Hey RR, I told you that two days ago. Market support it's very weak cause marketing of FLDC it's 0. With this environment it's very dangerous to duplicate the market supply one day to another. Excuse me if I'm wrong, but I think that you saw 40,000 $ and they blinded your mind. The process was going in the good way, donors increasing fast and market price relatively stable.

I understand that you need money, but did you really need 40,000$ right now? Man, I really respect you, I think you are good and alive, but you really need a marketing and financial advisor, cause it's obvious that you don't have experience in that scope.

Now, let's solve this. Today the market has talked: Sell the 100M FLDC, but we are not gonna pay them at 100-150 sats. I'm sorry to say that, but the crowdsale should be at 50-60 sats level to be competitive. Then, with an attractive ICO price, you need MARKETING. If those conditions don't meet, I assure you the failure of this GOOD project, and that would be a sadness.

I think in general we all are with you, but you cannot decide a thing like that in one day man! I offer myself to help you in the financial sector if you want. I have also investings in FLDC and I'm not gonna sell them, but please, be careful with those things cause markets are very sensible, and cryptomarkets are the representation of sensibility.

I'm here for anything you want RR.
 

[FoldingCoin]

 So far this is by far the most important vote we have had http://foldingcoin.net/fldc-voting/

1.  why is phase 2 (april) before phase 1 (may)
2.  why cant we discuss this here.. I do not want to signup yet another board to discuss
3.  100M foldcoin is more than the market can bare.  current price is NOT 100 satashis for this much coin
4.  just the word of this sale has dropped the bid to 65 satashis
5.  @ 65 satashis I am turning off my 5.5M ppd  rigs... doesn't pay for the power.

1. Phase 2 stands for what is currently up for vote. For example: this vote that we are currently in is taking place in March and should it pass will be implemented in April. Phase one is the discussion for what will be voted on during april to be passed in May. Each phase is a two step process

2. We absolutely can discus this here, the private forums are just nice because we know that everyone in there is a FLDC holder, but I encourage the discussion here, or maybe even on our reddit which is not currently being utilized http://www.reddit.com/r/FoldingCoin/

3. This is true, and i understand both sides of the argument. I encourage since you feel this way for you to vote against this and convince the others to vote against this as well. I am still undecided on which way i will vote (FYI i only have 100K votes)

4. The price has climbed back to 113 currently as i think many mixed up that this was actually implemented now, but we still have 29 days until this will be passed or not, just impulse market selling

5. I completely understand this and i do not blame you for this action. I hope the new merged folding coins we will be announcing (we have some exciting ones) will change your mind. But without funding, eventually this coin will loss its value overtime. We need to be releasing features that you can use FLDC for and we feel the marketplace we spoke about in the recent public meeting will help drive that value

[FoldingCoin]

Hey RR, I told you that two days ago. Market support it's very weak cause marketing of FLDC it's 0. With this environment it's very dangerous to duplicate the market supply one day to another. Excuse me if I'm wrong, but I think that you saw 40,000 $ and they blinded your mind. The process was going in the good way, donors increasing fast and market price relatively stable.

I understand that you need money, but did you really need 40,000$ right now? Man, I really respect you, I think you are good and alive, but you really need a marketing and financial advisor, cause it's obvious that you don't have experience in that scope.

Now, let's solve this. Today the market has talked: Sell the 100M FLDC, but we are not gonna pay them at 100-150 sats. I'm sorry to say that, but the crowdsale should be at 50-60 sats level to be competitive. Then, with an attractive ICO price, you need MARKETING. If those conditions don't meet, I assure you the failure of this GOOD project, and that would be a sadness.

I think in general we all are with you, but you cannot decide a thing like that in one day man! I offer myself to help you in the financial sector if you want. I have also investings in FLDC and I'm not gonna sell them, but please, be careful with those things cause markets are very sensible, and cryptomarkets are the representation of sensibility.

I'm here for anything you want RR.
  

You make some really good points and I would love you to suggest changes to this vote for the next vote coming up. For example: you can suggest an exact plan on how the sale of the coins should if it should pass. And I would love more financial advise, but this was suggested by a donor and our voting system works in a way where anyone can suggest a vote and it will be voted upon.

Now it is good to note that the person who suggested this did not post it in the voting forum directly, but i thought it was an intersting idea so i posted it for him and quoted him. I wanted to see how the community felt about it. Thats the beautiful thing about counterparty, we can allow the community to make a decision like this. 502 Folders have a valid voice (FLDCVOTEIII) on if this should be passsed and no one person has a dominating vote due to the vote process changes of the previous vote that caps the amount of votes one gets.

Please submit what you think should be changed for next months votes here https://letstalkbitcoin.com/forum/post/phase-1-vote-for-may-2015-change but you must be an LTB member, and hold 1 FLDC, but it doesnt take long to sign up. Tutorials for that can be found here http://foldingcoin.net/letstalkbitcoin-guides/#LTB