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Adilado

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  1. Upvote
    Adilado reacted to Arcurus in The end of the foundation   
    as @Rik8119 said option 2 is not fair to investors.
  2. Upvote
    Adilado reacted to Rik8119 in The end of the foundation   
    Well if we want to compare it to Bitcoin - which does not make sense IMHO - i ask myself what the community would say if the core devs would decide to increase the coin supply by 5?
    I can not imaginge atm that a social purpose can be decentralized. BItcoin f.e. is not decentralized either. 1m is owned by Satoshi and there are a handful pool and a few groups of devs ruling the bord.
    Woergl f.e. was the most successful freigeld currency and they used it to pay for social infrastructure. And IMHO it is the only reasonable purpose to redistribute money to the poor.
    I dont really see how it is fair to those that invest in FRC in the past dont follow the forum and one day wake up with an extreme amount of FRC pumped in mining - what in the end will lower the price and interest in the coin.
  3. Upvote
    Adilado reacted to galambo in The end of the foundation   
    I vote option 1.
    I will share what I am thinking: I was never very comfortable with the idea of the foundation, because to me the idea of Bitcoin is using clever mathematics to avoid politics. A foundation picking winners and losers is the definition of politics, and I wasn't comfortable with being in that position.
    There was some thought to use the foundation coin to come up with a provably fair way to distribute the foundation coins with a "faucet". But in my opinion this would take a level of mathematical innovation on the level of Bitcoin itself, and we are very unlikely to solve this problem if it is even possible.
    Distributing the coin to miners is provably fair, but this is a political decision to reward the miners. Is there any indiciation that Freicoin needs a higher level of security which we would be buying with rewarding the miners at a higher rate?
    Anyways, please consider opinion from someone who was involved in the release of this coin but not so much now, I apologize for that.
     
  4. Upvote
    Adilado reacted to fedde in The end of the foundation   
    Vote for option 1. 
  5. Upvote
    Adilado reacted to Rik8119 in The end of the foundation   
    Ill go with Option 1
  6. Upvote
    Adilado got a reaction from Rik8119 in The end of the foundation   
    We are now many forum contributors and long time supporters that strongly believe that the foundations coins should not be released into circulation and the miners, if the timeframe is 10-100 years then fine but not in a quick pace as it will just crash the price, we dont need freicoin priced at 1 satoshi and it would not be fair to current holders of Freicoin.
    What freicoin need is something to support growth of price and to be very attractive to their speculators. 
    My personal opinion is that the foundations coins of 80% should be locked in a blockchain time contract and that demurrage should be drawn from there only and not from speculators/normal wallets. 
    The second step (my personal opinion) would be to allow a proof of stake interest of about 2% so that holders will be rewarded for holding and not selling.
    Further we could have a small transaction fee that gets burnt but probably a no fee system is better in marketing purpose.
    Then what we need is a big marketing effort, designing a great website, promote our exchange and relaunch this coin on bitcointalk.
    We have the opportunity to really grow here, lets make that happen instead of the opposite, people are really scared of investing in a coin that lose 5% of value yearly, it needs to be modified.
  7. Upvote
    Adilado got a reaction from Bicknellski in withdraw from freiexchange   
    Yes, the error was on my end.
    Quickest withdrawal I have ever seen, five out of five stars
  8. Upvote
    Adilado reacted to Rik8119 in Testing Freicoin 0.9   
    That was my vote too.. We have to wait what @jtimon says about it.
  9. Upvote
    Adilado got a reaction from fedde in Testing Freicoin 0.9   
    Sounds good BUT this need to be a proper lock on the blockchain. Not just "locked" until moved.
    So its very good that the demurrage is largely paid by foundation. Now we timelock those funds forever and demurrage gets drawn from there and nowhere else.
  10. Upvote
    Adilado got a reaction from fedde in Future of Freicoin   
    With that investment I would do anything I can, however I am not a programmer.
  11. Upvote
    Adilado got a reaction from Rik8119 in Testing Freicoin 0.9   
    I think we are on to something, cant wait for more feedback.
    People would go nuts for Freicoin and at the same time the original values would be intact.
  12. Upvote
    Adilado reacted to Rik8119 in Testing Freicoin 0.9   
    That would be something for the @Mark Friedenbach and @jtimon as they handle the foundations funds. If they could use those coins on @fedde 's exchange with BTC and what other coins will come and every address has a time/FRC ratio (like POS) that will pay you those tokens that would be something very special and of course doable, if we find no other usage for the foundation coins!
  13. Upvote
    Adilado got a reaction from Rik8119 in Testing Freicoin 0.9   
    I feel this coin is in good hands, its not created out of thin air. Lets make it great together. Its good to keep the original philosophy if we can just make it profitable and interesting for investors.
     
    Just a crazy idea:
    Demurrage is used to buy other crypto tokens that the owner of the account get in his own freicoin wallet. The wallet for example support Ethereum tokens and they can be stored there. This would give the freicoin holder other valuable coins while the freicoin coins get burnt, freicoin supply decrease over time. Win win. 
    And people would love it.
    OR as we have the exchange already, they just get small amount of BTC for holding freicoin. If the freicoin holder wants to they can just buy more freicoin.
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