[ANN] FoldingCoin - MINE FOR MEDICINE- PHASE 2.0

[SalimNagamato]

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

Why did you do it?

to make it little more rare

[K210]

Happy 2nd birthday Foldingcoin!

[heunland]

Happy 2nd birthday Foldingcoin!

Actually I believe Foldingcoin was first issued on the 4th of July, 2014 but it´s never too late to say

HAPPY BIRTHDAY FOLDINGCOIN!

[testcoin]

Nice, Happy Birthday! Keep this nice project going

[FoldingCoin]

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

Why did you do it?

to make it little more rare

Very interesting.... I like it thats how XCP was made you know

And yes happy 2nd FLDC birthday!!!!!!!!!!!! Thank you all for continuing to be part of this community

[ikonic1]

I have recently started folding but there's two things I don't understand.

First, how does the FoldingCoin team know who has signed up with Username_FLDC_1BitcoinAddress? Is this information public? If so, where?

Second, if the folder provides a Bitcoin address (the one from their Counterparty wallet), how are they paid in FLDC since the folder provides a BTC address not a FLDC address? I can see that they could be paid in BTC but not in FLDC. How is FLDC assigned to the folder?

Thanks!

[Jonesd]

I have recently started folding but there's two things I don't understand.

First, how does the FoldingCoin team know who has signed up with Username_FLDC_1BitcoinAddress? Is this information public? If so, where?

Second, if the folder provides a Bitcoin address (the one from their Counterparty wallet), how are they paid in FLDC since the folder provides a BTC address not a FLDC address? I can see that they could be paid in BTC but not in FLDC. How is FLDC assigned to the folder?

Thanks!

Welcome!

To answer your questions:
1. Stanford shares the amount of credits people earn publicly, so we can use that as a basis to look for people with usernames that indicate they're folding.
2. COunterparty is built on top of bitcoin, so you can actually store many different counterparty assets on a single address. I recommend watching this movie: https://www.youtube.com/watch?v=adROavBst7E&list=PLzAjhhTQ6zqe_vGecdh5kKE3JCqdhDQPY

[ikonic1]

2. COunterparty is built on top of bitcoin, so you can actually store many different counterparty assets on a single address. I recommend watching this movie: https://www.youtube.com/watch?v=adROavBst7E&list=PLzAjhhTQ6zqe_vGecdh5kKE3JCqdhDQPY

I found the video most helpful.

The Counterparty wallet provides a Bitcoin address. You enter username_FLDC_1BitcoinAddress into the f@h client. The text file of all folders is downloaded by the FoldingCoin team and parsed to find FLDC or ALL or SCOT plus the Bitcoin address.

I still don't understand how folders are paid in FLDC as they provide a Bitcoin address not a FLDC address.

In my case, I created a wallet with https://counterwallet.coindaddy.io/#, which gave me a Bitcoin address. Was I supposed to do something else?

[jayguar]

I remember folding long time ago before I quit. I think its time for me to start again.

[SalimNagamato]

2. COunterparty is built on top of bitcoin, so you can actually store many different counterparty assets on a single address. I recommend watching this movie: https://www.youtube.com/watch?v=adROavBst7E&list=PLzAjhhTQ6zqe_vGecdh5kKE3JCqdhDQPY

I found the video most helpful.

The Counterparty wallet provides a Bitcoin address. You enter username_FLDC_1BitcoinAddress into the f@h client. The text file of all folders is downloaded by the FoldingCoin team and parsed to find FLDC or ALL or SCOT plus the Bitcoin address.

I still don't understand how folders are paid in FLDC as they provide a Bitcoin address not a FLDC address.

In my case, I created a wallet with https://counterwallet.coindaddy.io/#, which gave me a Bitcoin address. Was I supposed to do something else?

they are paid in FLDC by using a Bitcoin wallet, because the Counterparty layer is on top of the Bitcoin blockchain
so all Counterparty assets are distributed to bitcoin addresses

don't forget to use stanford's pass key in your client config https://folding.stanford.edu/home/faq/faq-passkey/
after 10 Work Units you will start getting bonuses of stanford's folding points for every completed Work Unit

[ikonic1]

they are paid in FLDC by using a Bitcoin wallet, because the Counterparty layer is on top of the Bitcoin blockchain
so all Counterparty assets are distributed to bitcoin addresses

I see. I hadn't used a Counterparty token before hence my confusion. Thanks for explaining.

This system must mean that the FoldingCoin team convert the FLDC reward into BTC? Is that correct?

This would mean that the only way to obtain FLDC is to buy it from an exchange. Yes?

[SalimNagamato]

they are paid in FLDC by using a Bitcoin wallet, because the Counterparty layer is on top of the Bitcoin blockchain
so all Counterparty assets are distributed to bitcoin addresses

I see. I hadn't used a Counterparty token before hence my confusion. Thanks for explaining.

This system must mean that the FoldingCoin team convert the FLDC reward into BTC? Is that correct?

This would mean that the only way to obtain FLDC is to buy it from an exchange. Yes?

no

http://blockscan.com/assetInfo/FLDC

you will receive FLDC Asset as payment
Counterparty is just using the Bitcoin blockchain database to create and use other asset (or 'coins') with asset's own Ticker
there is also a DEX to trade assets

[ikonic1]

I obviously don't understand something basic so I will try to phrase this as simply as possible.

How can the FoldingCoin team pay folders in FLDC when the folder does not provide them with a FLDC address? The folder only provides a BTC address (created by the Counterparty wallet).

[xandry]

How can the FoldingCoin team pay folders in FLDC when the folder does not provide them with a FLDC address? The folder only provides a BTC address (created by the Counterparty wallet).

Try to read counterwallet FAQ to understanding -> What is an Asset/Token/Coin? How can I store them?

[ikonic1]

OK. I think I get it now. From the link "You can store BTC, XCP, and user created assets on any Counterwallet address. In fact, you can store any of these currencies on any regular Bitcoin address as well, provided that you have access to the private key of that address."

So I guess that, once I've earned some FLDC, I'll see the FLDC referenced in some way by the BTC address created by the Counterwallet.

Thanks for everyone for answering my questions.

[Jonesd]

OK. I think I get it now. From the link "You can store BTC, XCP, and user created assets on any Counterwallet address. In fact, you can store any of these currencies on any regular Bitcoin address as well, provided that you have access to the private key of that address."

So I guess that, once I've earned some FLDC, I'll see the FLDC referenced in some way by the BTC address created by the Counterwallet.

Thanks for everyone for answering my questions.

Good luck!

[SalimNagamato]

is there going to be (or already is) a merge fold asset soon ?

[Jonesd]

is there going to be (or already is) a merge fold asset soon ?

We will discuss this during the monthly meetup.

[tbonetony]

For merged folding, do I have to use Counterwallet to receive bitcoins or can I simply use my existing wallet as long as I follow the username_ALL_walletaddress format?

[heunland]

For merged folding, do I have to use Counterwallet to receive bitcoins or can I simply use my existing wallet as long as I follow the username_ALL_walletaddress format?

Merged folding does not distribute bitcoin, but other counterparty tokens besides FLDC. So you need to store them in a Counterparty compatible address to which you hold the private key yourself. Several options are available: For use with the chrome browser, there is a plugin called Tokenly Pockets https://chrome.google.com/webstore/detail/tokenly-pockets/pdkmidhbflcbhddoagiikmafccadidhh?hl=en. For mobile users, there is the IndieSquare HD wallet with built-in Decentralized Exchange (DEX) which you can download for iOS or android at http://wallet.indiesquare.me. The original Counterparty web-wallet is available at http://counterwallet.io/.

Regardless of the option you choose, you can access your tokens with the same passphrase in any of the available wallets. So if one of them is down for some reason, you can still access your tokens with one of the other options. If you are worried about the security of third party and online wallets, you can always store your merged folding tokens using Armory cold storage.