[ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0

[FoldingCoin]

With the 100 million coins that have been set aside, are these included as part of the total coins in circulation on coinmarketcap? Or are they set aside with the remaining 700M?

These are actually not in circulation yet and will be added to the coinmarketcap circulation once it reaches significant levels. At the moment, we still have almost all of them

[1713491093]

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[1713491093]

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[1713491093]

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[1713491093]

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[FoldingCoin]

June Monthly Meeting - Back on Track

Today we had the monthly meeting for June and Robert and I (Jona) were able to do it together from Robert's place in Indiana.
We were able to identify and (partially) tackle our main issues.
You can watch the video here: https://www.youtube.com/watch?v=9ieiaMdqmoM

The main issues we addressed were:

MAIN ISSUE 1: Distribution of Tokens
Problem
- Right now the total cost per distribution is about 0.1 BTC which currently is around
$57 - 4 x month = $228 per month
Solution
- One monthly calculation and distribution Starting 6/5/16
Status: COMPLETE
Additional problems solved:
- In order to calculate a large time frame, we need to run the report for each individual day
and then add them together even though the database can sum them up in one long report.
We will no longer do this, instead for now until the new code is complete we will pay on a
monthly collective basis. So instead of each day you complete WU and get calculated for
those days, instead we calculate for what you submitted the entire month.
 STATUS: COMPLETE



MAIN ISSUE 2: Merged Folding
Problem
- Currently we cannot add any individual tokens to the database so merged folding has come to a halt
Solution
- Anyone looking to distribute tokens on our platform can now begin to do so again simply by following
the video we will be releasing later on this week (we will demonstrate at today's meeting). There are
some certain limitations to running your distribution on this temporary setup that will look to be fixed
with the new code discussed later.
Status: PARTIALLY COMPLETE
Additional problems solved:
- Everyone who has any name that is calculated by FLDC will now begin to be included in our merged
folding calculations. Even those that don’t use the _ALL_ command.
STATUS: PARTIALLY COMPLETE



MAIN ISSUE 3: Finding a Coder
Problem
- Need to finish the new code in order to have an automated distribution and lower the distribution fees.
- We need to find a coder with PHP experience to finish completing the new code. We have a budget of
$1500 to complete this.
- Robert has tried various online paid freelance coder sites and they do not take projects under $5,000
- Robert has tried various cryptocurrency developer contacts he has and all are to busy working on their own projects.
Solution
- Robert is attending 2 local Indianapolis meetups to try and recruit a developer, Indy PHP and Morning Coders.
Status: PENDING
- The community can help try and find a developer who is interested and have them email rross@foldingcoin.net
Status: PENDING
Additional problems solved:
- We will be able to manipulate statistics easier for Merged Folding partners who wish to have various special
types of distributions such as limiting the amount of tokens a folder earns on each day. This proposal can be
found at this document: https://drive.google.com/open?id=19xNt4ufStGxxzyEnIgF6yPguS_wuTjwci9HglOFx9jM
Will become available later today after Robert and Jona go over it and complete  
Status: COMPLETE


MAIN ISSUE 4: Volunteers
Problem
- Only two volunteers by end of 2015 (Robert and Jona)
Partly solved
- New people (Helene and Jeff) are joining and hopefully more are coming. Budget is ready to take on more people.
The link to the budget is https://drive.google.com/open?id=1o6g_Q2Wo3ZFb6l3yUnR3d9C10xHrZWxRJI15Ep9ei2I
Status: COMPLETE
Solution:
Team of 5-6: Wordpress and member of the board
Status: PENDING


IN SHORT
Robert and I feel like we were really able to tackle some important issues and feel confident we can get this
show on the road again!

[SalimNagamato]

you guys are amazing !
Robert and Jona actually met

why not adding Helene or Jeff (or both) to the board? they are very consistent with their support of this project

[vhong]

With the 100 million coins that have been set aside, are these included as part of the total coins in circulation on coinmarketcap? Or are they set aside with the remaining 700M?

These are actually not in circulation yet and will be added to the coinmarketcap circulation once it reaches significant levels. At the moment, we still have almost all of them

It's good to know you still holding all of them, a truly altruistic act.

[K210]

Just watched the monthly meeting and just a few things i want to comment on

Monthly distributions

I support it as long as distributions are done on a fixed day each month


Project direction

I think the actions being taken now are correct however i think there are several bigger questions that need to be asked such as:

- What is foldingcoin's long term purpose?
- How will foldingcoin as a asset be given utility?
- Why should someone mine foldingcoin verses something like ether?  

Merged Folding

Happy to have it back in one form or another

Additional comments about Price

The price has been holding steady at >25 satoshi for about 5 months now indicating market maturity. This is true even whilst bitcoin has been surging

[testcoin]

June Monthly Meeting - Back on Track

Today we had the monthly meeting for June and Robert and I (Jona) were able to do it together from Robert's place in Indiana.
We were able to identify and (partially) tackle our main issues.
You can watch the video here: https://www.youtube.com/watch?v=9ieiaMdqmoM

The main issues we addressed were:

MAIN ISSUE 1: Distribution of Tokens
Problem
- Right now the total cost per distribution is about 0.1 BTC which currently is around
$57 - 4 x month = $228 per month
Solution
- One monthly calculation and distribution Starting 6/5/16
Status: COMPLETE
Additional problems solved:
- In order to calculate a large time frame, we need to run the report for each individual day
and then add them together even though the database can sum them up in one long report.
We will no longer do this, instead for now until the new code is complete we will pay on a
monthly collective basis. So instead of each day you complete WU and get calculated for
those days, instead we calculate for what you submitted the entire month.
 STATUS: COMPLETE



MAIN ISSUE 2: Merged Folding
Problem
- Currently we cannot add any individual tokens to the database so merged folding has come to a halt
Solution
- Anyone looking to distribute tokens on our platform can now begin to do so again simply by following
the video we will be releasing later on this week (we will demonstrate at today's meeting). There are
some certain limitations to running your distribution on this temporary setup that will look to be fixed
with the new code discussed later.
Status: PARTIALLY COMPLETE
Additional problems solved:
- Everyone who has any name that is calculated by FLDC will now begin to be included in our merged
folding calculations. Even those that don’t use the _ALL_ command.
STATUS: PARTIALLY COMPLETE



MAIN ISSUE 3: Finding a Coder
Problem
- Need to finish the new code in order to have an automated distribution and lower the distribution fees.
- We need to find a coder with PHP experience to finish completing the new code. We have a budget of
$1500 to complete this.
- Robert has tried various online paid freelance coder sites and they do not take projects under $5,000
- Robert has tried various cryptocurrency developer contacts he has and all are to busy working on their own projects.
Solution
- Robert is attending 2 local Indianapolis meetups to try and recruit a developer, Indy PHP and Morning Coders.
Status: PENDING
- The community can help try and find a developer who is interested and have them email rross@foldingcoin.net
Status: PENDING
Additional problems solved:
- We will be able to manipulate statistics easier for Merged Folding partners who wish to have various special
types of distributions such as limiting the amount of tokens a folder earns on each day. This proposal can be
found at this document: https://drive.google.com/open?id=19xNt4ufStGxxzyEnIgF6yPguS_wuTjwci9HglOFx9jM
Will become available later today after Robert and Jona go over it and complete  
Status: COMPLETE


MAIN ISSUE 4: Volunteers
Problem
- Only two volunteers by end of 2015 (Robert and Jona)
Partly solved
- New people (Helene and Jeff) are joining and hopefully more are coming. Budget is ready to take on more people.
The link to the budget is https://drive.google.com/open?id=1o6g_Q2Wo3ZFb6l3yUnR3d9C10xHrZWxRJI15Ep9ei2I
Status: COMPLETE
Solution:
Team of 5-6: Wordpress and member of the board
Status: PENDING


IN SHORT
Robert and I feel like we were really able to tackle some important issues and feel confident we can get this
show on the road again!

Nice, things seems back on track and many issues get fixed. Great!

[Jonesd]

you guys are amazing !
Robert and Jona actually met

why not adding Helene or Jeff (or both) to the board? they are very consistent with their support of this project

They are welcome to join the board, but that is totally up to them. Perhaps in time

[Jonesd]

June Monthly Meeting - Back on Track

Nice, things seems back on track and many issues get fixed. Great!

Thanks!

[Jonesd]

Just watched the monthly meeting and just a few things i want to comment on

Monthly distributions

I support it as long as distributions are done on a fixed day each month


Project direction

I think the actions being taken now are correct however i think there are several bigger questions that need to be asked such as:

- What is foldingcoin's long term purpose?
- How will foldingcoin as a asset be given utility?
- Why should someone mine foldingcoin verses something like ether?  

Merged Folding

Happy to have it back in one form or another

Additional comments about Price

The price has been holding steady at >25 satoshi for about 5 months now indicating market maturity. This is true even whilst bitcoin has been surging

Good Feedback.

The distributions are due each month after the meeting.

Regarding your questions:
What is foldingcoin's long term purpose?
- Our longterm goal is to become a huge part of the folding@home initiative in computing power and create a rich token economy on top of that.
How will foldingcoin as a asset be given utility?
- FLDC is the fundamental asset of the merged folding platform, so will always be the main underlying currency.
Why should someone mine foldingcoin verses something like ether?  
- People should choose this coin if they want to do something meaningful with their mining and if they believe in the platform we're building with the merged folding. Basically our power lies in the amount of miners.

[K210]

Nice price movement maybe we will hit 40 satoshi today. First time in a long time trading FLDC is actually profitable

[BitcoinForumator]

Thanks to Folding I got a sauna now.

[Jonesd]

Thanks to Folding I got a sauna now.

Haha.

A sauna is really healthy, so FLDC is even benefiting you: http://www.finnleo.com/pages/health-and-wellness.aspx

Just don't throw water on your machines

[SalimNagamato]

my GTX 1080 expected to arrive at Sunday

[Jonesd]

my GTX 1080 expected to arrive at Sunday

Exciting! I wonder what the daily folding from it will be.

[xandry]

Where i can get avatar for last "legendary" level?

[Jonesd]

Where i can get avatar for last "legendary" level?

We don't have the ones with text available, but I will send you the link for the gold  one via message. Congratulations on folding for more than a year! I will include you in the list to get awarded the 10k FLDC!

[K210]

Where can i check if i am eligible for the "gold status"? 

[Jonesd]

Where can i check if i am eligible for the "gold status"? 

We do not have the infrastructure ready to check this automatically, so you can send me your address and I can add you to the list. The badges are rewarded as follows:

Level 1: Junior Folder 0-30 Days


Level 2: Folder 31-100 Days - 500 FLDC REWARD


Level 3: Senior Folder 101-200 Days - 1000 FLDC REWARD


Level 4: Hero Folder 201-363 Days - 5000 FLDC REWARD


Level 5: Legendary Folder 364-727 (1 full year) - 10000 FLDC REWARD

[SalimNagamato]

oops
http://blockscan.com/address/1BURNXXXXXXXXXXXXXXXXXXXXXXXTVanmh

[Jonesd]

oops
http://blockscan.com/address/1BURNXXXXXXXXXXXXXXXXXXXXXXXTVanmh

Why did you do it?