[ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0

[FoldingCoin]

Hey everyone! I just released a recap from the recap meetings that happened over the weekend. If you havent watched the meetings and dont want to, a good 5 minute read would be nice, but also I have the links for the videos if you wish to watch them. Keep Calm and Fold on

• Saturday 26th Meeting (Robert Only): https://www.youtube.com/watch?v=CGNfT8hKNHU
• Sunday 27th Meeting (Robert, Jona, and hou5e): https://www.youtube.com/watch?v=Boqj-VM9zxY
• Blog Recap from Tuesday 29th (Foldingcoin.net): http://foldingcoin.net/2016/03/relaunch-recap-32916/

[FoldingCoin]

Here is the join link for this months meeting today in about 11 minutes:

Event page:

https://plus.google.com/events/c9tcjnltu3sc41dqguq2mguisto

YouTube Watch only:

http://www.youtube.com/watch?v=UysrJCnrXec

Direct join email request:

rross@foldingcoin.net

[adhitthana]

So...
1. There will be 1 billion coins in total?
2.There are 350,000,000 now?

When all 1 Billion coins have been released will "folders" get anything?

[heunland]

So...
1. There will be 1 billion coins in total?
2.There are 350,000,000 now?

When all 1 Billion coins have been released will "folders" get anything?

The 1,000,000,000 FLDC have already been issued and the asset is locked, so no more coins can be issued in the future. 500,000 FLDC are distributed to folders per day.

[adhitthana]

So...
1. There will be 1 billion coins in total?
2.There are 350,000,000 now?

When all 1 Billion coins have been released will "folders" get anything?

The 1,000,000,000 FLDC have already been issued and the asset is locked, so no more coins can be issued in the future. 500,000 FLDC are distributed to folders per day.

Thanks. So 500,000 FLDC (or a lesser amount after time)  will be issued every day, until they  are all issued …then no more will be issued?  But people maintaining the network will get fees after that?

[SalimNagamato]

So...
1. There will be 1 billion coins in total?
2.There are 350,000,000 now?

When all 1 Billion coins have been released will "folders" get anything?

The 1,000,000,000 FLDC have already been issued and the asset is locked, so no more coins can be issued in the future. 500,000 FLDC are distributed to folders per day.

Thanks. So 500,000 FLDC (or a lesser amount after time)  will be issued every day, until they  are all issued …then no more will be issued?  But people maintaining the network will get fees after that?

somewhere at 2017 this amount will halve to 250,000 daily
it will halve every 1000 days
it means our children and grandchildren can continue forever

[heunland]

So...
1. There will be 1 billion coins in total?
2.There are 350,000,000 now?

When all 1 Billion coins have been released will "folders" get anything?

The 1,000,000,000 FLDC have already been issued and the asset is locked, so no more coins can be issued in the future. 500,000 FLDC are distributed to folders per day.

Thanks. So 500,000 FLDC (or a lesser amount after time)  will be issued every day, until they  are all issued …then no more will be issued?  But people maintaining the network will get fees after that?

all the tokens are already issued (they exist on the counterparty platform), they just get moved from the issuing address to the addresses of the folders in proportion to their contribution to folding.

edit: good point about the halving, I forgot about that 

You can participate in discussions with the foldingcoin community on the foldingcoin slack http://slack.foldingcoin.net/ to discuss in what we want to happen after all the tokens have been distributed. Also we have monthly google hangouts to discuss the direction of the project. Last meeting was last sunday. See more info on foldingcoin.net. Meetings are announced on twitter, so you should follow @foldingcoin to get notice of when the next meeting will take place.

[adhitthana]

Thanks guys. I might check out the forum. I've been buying a small number so might as well.

[FoldingCoin]

So...
1. There will be 1 billion coins in total?
2.There are 350,000,000 now?

When all 1 Billion coins have been released will "folders" get anything?

The 1,000,000,000 FLDC have already been issued and the asset is locked, so no more coins can be issued in the future. 500,000 FLDC are distributed to folders per day.

Thanks. So 500,000 FLDC (or a lesser amount after time)  will be issued every day, until they  are all issued …then no more will be issued?  But people maintaining the network will get fees after that?

Correct, just like bitcoin eventually you will not receive much FLDC for folding. However, that is another reason why we are focusing on developing the merged folding platform. With merged folding any token can be distributed on our platform using their own individual parameters. So the goal is that many many projects distribute tokens/rewards on the folding platform so that way there is always something to earn by folding.

FYI: SCOTCOIN, BITCRYSTALS, and FDCARD have all been distributed on the merged folding platform and they are worth way more then FLDC itself. We want to refocus on being a platform to earn many tokens. FLDC should grow organically with value the same way that XCP does for counterparty. XCP and FLDC are just fuel for the platform, but it is good to know that we have not yet found a good way to utilize FLDC as fuel and we hope someone in the community can help with that problem.

But even without fuel, the platform we have has proven to work and we should one day see 100's on token on our platform that come and go as their own teams decide if we do everything right

[SalimNagamato]

anyone saw what happen to SCOT today... ?
can't wait for FLDC to go better

[heunland]

anyone saw what happen to SCOT today... ?
can't wait for FLDC to go better

Merged folding participants were lucky to have received SCOT thanks to the hard work of the Foldingcoin team. Merged folding will be the new focus of Foldingcoin, as it has been a great success not only with Scotcoin but also with Bitcrystals, the rare Spells of Genesis FDCARD and also the MAGICFLDC distribution, where starting today you can get a FOOTSOLDIER card playable in the Spells of Genesis game in exchange for 190,000 MAGICFLDC on this swapbot:

https://swapbot.tokenly.com/bot/spellsofgenesis/public-merchant#choose

As a reminder, merged folding will be started again soon, and more MAGICFLDC are still to be distributed, so crank up your folding rigs everyone! 

[K210]

That moment you realise that a coin on the merged platform is worth 35 times more than FLDC itself. Is scot still being distributed by the way?

[K210]

Its like namecoin being worth more than bitcoin

[ikonic1]

How does FoldingCoin differ from CureCoin which, AIUI, does the same folding@home calculations?

[heunland]

How does FoldingCoin differ from CureCoin which, AIUI, does the same folding@home calculations?

Both Foldingcoin and Curecoin do folding using Folding@Home. The difference is that Curecoin has its own blockchain which must be secured by mining the coins, expending extra energy. As I understand it, Curecoin uses both SHA256 mining (proof of work) as well as Proof of stake minting. So for Curecoin, people use CPU and GPU power for actually running folding@home, and there are also miners securing their blockchain expending energy. See more about Curecoin at https://www.curecoin.net. Foldingcoin, on the other hand, is a Counterparty asset. Counterparty runs on top of the bitcoin blockchain, thus we save ourselves from having to spend developer time in maintaining a separate Foldingcoin blockchain, as well as saving unnecessary energy expenditures by letting the bitcoin blockchain secure the FLDC token. For an impartial look at the pros and cons of using Counterparty, see http://foldingcoin.net/the-coin/fldc-vs-alts/

Another difference is that the Foldingcoin project, besides rewarding participating folders with FLDC, also promotes merged folding distributions of various other counterparty assets. In the past, one of these (among others) has been the highly successful Scotcoin project, and there is still an ongoing collaboration with Spells of Genesis (SoG), an upcoming video game innovating the gaming space with blockchain based trading cards. Merged folding participants have received the exclusive FDCARD (the first blockchain card issued by SoG), as well as the game currency Bitcrystals and MAGICFLDC, another special SoG token which is valuable to trade for other game assets. Find out more about SoG merged folding here: http://foldingcoin.net/portfolio/spells-of-genesis/ The Foldingcoin team is actively pursuing more collaboration opportunities with new projects for future merged folding distributions. Stay tuned for the news!

But there´s more! You don´t actually have to choose between Curecoin and Foldingcoin. In fact, you can receive both of these coins for your efforts participating at Folding@Home. You just need to use the same username conforming with the Foldingcoin standards (i.e. username_ALL_bitcoinaddress) to also register for the Curecoin folding pool, and use the Curecoin Team number when setting up your FAH client. You can find tutorials on setting up Foldingcoin here: http://foldingcoin.net/resources/video-tutorials/

[K210]

I know it is easy to complain but i get the feeling this coin is going nowhere. Every single month promises are made in google meetup which are then broken by the next meeting. Several projects such as off-chain distribution system, online store and other projects have been canceled. Distributions are always running late and coin price has been in downward spiral for a month. Dev disappears for weeks on end and comes back with little apology. I understand that foldingcoin is not peoples entire lives but it takes just 5 minutes to post updates on this forum so people dont assume you have abandoned the project.  

Do i think FLDC will fail? - probably not but i think its best days are behind it. I hope FLDC will prove me wrong in the long term but i have my doubt.

[FoldingCoin]

I know it is easy to complain but i get the feeling this coin is going nowhere. Every single month promises are made in google meetup which are then broken by the next meeting. Several projects such as off-chain distribution system, online store and other projects have been canceled. Distributions are always running late and coin price has been in downward spiral for a month. Dev disappears for weeks on end and comes back with little apology. I understand that foldingcoin is not peoples entire lives but it takes just 5 minutes to post updates on this forum so people dont assume you have abandoned the project.  

Do i think FLDC will fail? - probably not but i think its best days are behind it. I hope FLDC will prove me wrong in the long term but i have my doubt.

Hey K210, yeah i know this is a problem and i promise im trying my best to get FoldingCoin there. We have helene helping with social media which is a huge help, but there is still a lot to this project that needs volunteer hours to get there quicker. But i cant invest 40 hours a week to the project anymore, so i am kindof at a point where special things like off chain distribution and other things like that are just on the back burner for now. I am still talking with that development company and things look good there, but in the mean time keep calm on fold on

Remember everyone, email me rross@foldingcoin.net if you are interested in volunteering, or promote FoldingCoin in your own way, or join in the discussion at the slack http://slack.foldingcoin.net/

[madmartyk]

As a long time folder, I have stopped folding..  Why?  Because for a long time GPU mining wasn't worth it, so I folded just for the hell of it.  Then came ETH, with my 2 280x's and 1 290x I can make $7 per day before electric (and they were running folding anyway).  So why should I fold and pay money when I can mine ETH and actually make a little bit!!!

When ETH dies and the GPUs can't support themselves I'll be back.

[heunland]

As a long time folder, I have stopped folding..  Why?  Because for a long time GPU mining wasn't worth it, so I folded just for the hell of it.  Then came ETH, with my 2 280x's and 1 290x I can make $7 per day before electric (and they were running folding anyway).  So why should I fold and pay money when I can mine ETH and actually make a little bit!!!

When ETH dies and the GPUs can't support themselves I'll be back.

Ok so if you were just looking at it as a mining activity you´re right, folding is not for you. But those that actually want to do something to actively contribute to science and help cure diseases can do so by folding. I think it is much more constructive and satisfying than to just write a check and donate to some charity.

On the other hand, I guess you haven´t looked into the merged folding aspect of Foldingcoin yet. Some folders have received merged assets such as the Spells of Genesis FDCARD (some of these have been sold on the Counterparty DEX for the equivalent of more than $200 USD each) Scotcoin has also been distributed by merged folding and so have other Spells of Genesis tokens like Bitcrystals. The MAGICFLDC distribution has not concluded yet and more merged folding offers are in the works.

[K210]

As a long time folder, I have stopped folding..  Why?  Because for a long time GPU mining wasn't worth it, so I folded just for the hell of it.  Then came ETH, with my 2 280x's and 1 290x I can make $7 per day before electric (and they were running folding anyway).  So why should I fold and pay money when I can mine ETH and actually make a little bit!!!

When ETH dies and the GPUs can't support themselves I'll be back.

I also used to GPU fold when the price was at 250 satoshi in early 2015 but as the price fell it cost more in bills than it made in profit. These days i have a single i5 folding away for purpose of research as cpus cost near nothing to run anyways. I still follow this coin and might develop something for it later this year.