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I somehow have the feeling that the whole crypto scene is stuck. Bitcoin price isnt really moving and maybe it is the hot summer/holidays or the fork comming on august 1st or a mix of all. But also freicoin price is not moving. There are only few trades and they are all around the same price. There is not much action in the forum and even less on github.

And i am not yet sure if is the free fall or the eye of a storm - i tend to the 2nd..

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currently many of the crypto tokens seem overrated. Many coins had a tenfold the last months. many coins are just junk. tons of ipos got tons of millions.

daily millions are burned for mining fees. bitcoins growth is artificially limited with the blocksize. federal reserve is increasing interest on dollar. summer hole for investments (june to october)... People need money for holidays.... coinbase collapsing because of too many users.... bitcoin miner vs developer vs industry vs users....

crazy world....

its fully unclear what is happening.... crazy times....

 

 

 

 

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From someone who looks from the outside and doesnt have the knowledge in currency like alot of you guys do here is what i see.

From the lessons learnt from the last bitcoin rise that created an altcoin rise i have the feeling that altcoins are going to come back to earth. I think bitcoin will keep hopping up and dropping back and eventually pulling back to between 2k -2.5k a coin and it will stabalise there. The reasons for this are like we seen back in the day of the whole hype around bitcoin which followed the surge to 1k per coin which then dropped below, hovered around 700-900 a coin and then came crashing down to as low as the 250 region with all the hacking of exchanges and stealing of coins (also everyone remembers Mount Gox).

I dont think bitcoin will fall as hard this time because of the spread of platforms that use it now (think exchanges and even futures trading has bitcoin available now). Saying that tho, this second round of hype i believe is over. This i would assume will see alot of people cashing out and locking down profits. So this is when i see the coin going back to its base of 2k-2.5k per coin (USD). As for something overtaking bitcoin, i think it should be treated like it will continue on its trend since its creation which has always been to raise in value. 

My plan will be to wait for the hype to finish on this round, let the prices settle then continue purchasing here and there.

 

Freicoin:

I love Freicoin, i love the idea of demurrage as a tool to keep money moving but sadly inflation will always be apart of human economics and demurrage will always turn people away from using it. You have to ask the regular person, (puts on the car salesman suit and tie) "Hey miss/mr, come and use this amazing form of currency that you can send to anywhere in the world, for a fee thats equivilant to your dollar terms of roughly 1 cent. Its all electronic, you can carry it on your phone, you can put some of it in the form of a paper amount and its as secure as you make it! By the way all your money will go down by 5% PA" The last part is where your average mum and dad user will run the other way. For someone who earns 40k per year, to lose 2k per year to demurrage is the same as taking a pay cut for them. I know there are benefits that out weigh this but you have to look at it from the mum and dad user because thats who makes our society.

For me if i think about the coin as just another altcoin to bitcoin, its just a copy cat that takes 5% from my pocket. Yes its better that it gets circulated but even if you spend your money and keep it circulating, whatever you have left gets demurraged. 

 

I cant see any interest coming back for Freicoin, i wish it would as i said i do genuinly like the idea of keeping money moving instead of hoarding it. I kinda wish demurrage worked the way that say if you spend freicoin, then you get 5% PA on the money you spend. You are encouraged to circulate the coin, encouraged not to hoard it, not speculate on the price. If you use Freicoin you actually get rewarded. I dont think there are any coins around like that. Dont shoot me down, just ideas and personal views on the way i look through the window. 

Are there any plans to further develope Freicoin? I remember coloured coins which never eventuated. It would be awesome for everyone to have a big think about what they think of the perfect coin, what functions it could have and maybe that will get some people fired up again.

As much as i have seen the whole posts with JOE and all the issues that went on, i do miss the old days of just talking in the chatbox and there was always people to talk to about Freicoin or other ideas. Theres just not many people around the coin now days :( 

 

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While everyone is talking about Bitcoin's price rise they are neglecting to mention its volume stall. With lack of supply, the price as going up. I'm not sure why the volume is so low, probably for the reasons Arc mentioned. It appears to be increasing slightly, ending the price climb.

IMG_2531.PNG

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As long as crypto-currencies are being used for speculation, Freicoin will be an unpopular choice. With overall usage increasing, it becomes a new phase for crypto-currencies with new ground to break. The 5 percent fee is not enourmous compared to exchange rate fees, travelers chèques and and credit cards. A model that encourages circulation could/will have its backers. With the value going up, there are literally double the people around the coin now. 

Also, Freicoin devs are literally on the leading edge of Bitcoin development. So the trust value is high.

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Clearly people are hoarding Bitcoin. This is an advertisement itself for Freicoin. Imagine if you want to make a larger purchase within a month. The price of Bitcoin could literally tumble 100%. "Better use Freicoin for the transaction". Of course Freicoin needs to reach a certain level of usage for it to stabilize. 

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2016 was the year of negative interest rate bonds and bail-ins, instruments to discourage hoarding. Demurrage is literally an idea who's time has come. While it discourages speculation, it is very fiscally Right to encourage circulation. Freicoin is not as 'socialist' (for most people that term is effectively 'nice government') as people may think.

http://community-currency.info/en/glossary/stamp-scrip/

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As @kieranf said the Interest is far too low to get something done. If we want to have something new we have to have development but also Test and use. When I add freicoin to coinmi and nobody is using it the interest in developing more complicated stuff is very low on my side (no offence).

The interest in cryptocurrencies were high last Bubble in 2014 because the central banks Messed it up and some people could still remember. This time it is just the halvening driver of the Bubble, most people are not interested in changing the system but to Profit from it.

To the Argument that the regular people don't Profit: in Solidar there is a free monthly income in $SLR but nobody is using it. People could easily Profit from the coin but the interest is missing. To create interest there need to be development But you cannot devlop everything on your own, so we are stuck.

I would suggest that bitcoin price will go up further if the fork in August is successful. But for manny altcoins that were already pumped I guess they will not Profit from it like eth or stratis. It will be interesting what the American government will do about the debt ceiling. There is no political majority for raising it so the long period of pumping fresh money into the market could end crashing stock market by 50 % and as the big winners are far to cautios to put their money into crypto, crypto is likely also to crash if there is no rise to the ceiling in August/September. However for freicoin this could be good as more people will start again to think.

Rik

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for Solidar, i guess in the beginning its mainly advertisement and a clear vision to get it started.

Also you should think about giving some incentive to hold some coins. Like interest up to double the universal dividend. Same incentive is also missing in grantcoin.

Also of course a exchange is needed and an experience of price increase can help lot.

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To go out and promote Freicoin right now would be kinda pointless.

These points are purely from me and i am no where near as active as i once was so just take them with a pinch of salt :)

-Logo, Ive said this a few years ago that the actual Coin logo is dated and doesnt Pop or look professional. This should be changed and refreshed.

-Ease of accessing Wallets: As it is currently, you cant just point and click to get a wallet on every platform. I beleive you have an android wallet but not an iphone wallet? The 64 bit windows 10 doesnt seem to work without a work around that has been mentioned earlier. I would think if you want adoption then getting a wallet should be the easiest part and as it stands it can be a pain in the arse.

-More Hashing on the network to keep the block times stable. I realise mining gear is a pain in the butt to house and run and from previous deals that went south for some people "joes pool thingy" then would the idea of a generic kitty that we entrust someone like Rik, or Arc and just use those funds to rent hashing power? Its relatively cheap now days and takes the hassle out of housing the Units and feeding them cool air and power. I would be more than happy to chip in if people were actually keen and there was enough spread of people.

-A Video/Animation that details Freicoins abilities and effectively spells out in basic terms how it all works. If enough people would be happy to chip in i would also chip in to help fund something.

As i see it there would need to be a considerable amount of effort that must be put into Freicoin to basically relaunch it and put it back onto peoples radars. Besides getting some hashing power on it and freshening up the look, there would also need to be some effort to get it back onto exchanges and available to more people.

 

Im finishing up work in a couple of weeks and going to be in Thailand doing some training so i will have a good bit of spare time and id be more than happy to help but i have limited tech skills and my main contribution would be to put some money towards getting things done.

Anyways, just my thoughts and ideas. 

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Yeah. Coin Market Cap calculates volume differently. Our volume curve is pretty amazing too.

 

Yeah, Chinese exchanges changed their rules last January. It seems they used to have fees only on withdraws which resulted in large volumes being created by bots. Government regulations forced them to change their practices. Now they have a fees of a fraction of a percent per transaction.

Some people argue that they thus 'lied' about their volume before and that the bots just created 'noise'. Some say the nature of the transactions changed.

It seems to me, bots trade for profit but noise essentially means random. So this is not the case. I agree that the nature of the transactions changed but that the high volumes are valid and show real market impacts and correlations. Nevertheless, The volumes fell to  2015 levels, when the price was low. In 2015, after paying mining expenses, there was reason to hold coins (all this in the climate of old trading practices). Now, a small transaction fee won't stop anyone from selling BTC after after 200% rise. 

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@kieranf yup. You caught up quick. That's exactly where we are. 6 months ago it was worse. Since, we have an exchange, P2Pool merge mining software, and a good explorer (that accounts for demurrage), an Electrum wallet, an online wallet, and the price had gone up 10x.

The wallet is a pain. We got the 0.9 compiled but are short on resources to modify and release it for a few reasons: 1) not sure what developers are doing (latest wallet is .14); 2) still busy with market, and other projects (I want to get a Foundation audit up); 3) it needs Linux 64-bit and relatively higher experience; 4) we are not full time. It's on the list! I estimate we could get the 0.9 working by mid-end August.

That's actually the best thing about Freicoin right now: Inexperienced people can chip in and help. Ultimately we are here to learn about this stuff. Being a small group, its like the old days before everything was so big. If you want to take the lead on modernizing the symbol, great.

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add freicoin to Bittrex.com

https://support.bittrex.com/hc/en-us/requests/new?ticket_form_id=114093958872

 

  • Coin Name
  • Enhanced Verified Account of team member on Bittrex - This team member must be either a core developer or a major shareholder (10% or more) of a company that backs the development of the coin.  That member will need to submit identifying documents to get their account enhanced verified.  
  • Description of your coin -  Why does it exist and what makes it unique?  What new technology or business concept are you bringing to the blockchain? If your ANN thread only has coin specs on it, you are not going to get listed on Bittrex.  
  • Coin trading symbol - The ticker needs to be 3-5 letters and cannot contain any symbols or numbers.  Please verify that your preferred symbol is not already in use on our exchange or any other.  There are a number of services that track coin prices that require the symbols to be unique. Even if the symbol is not on our exchange anymore, we won't reuse it.  Consider your symbol carefully because we will not change it once it is set. 
  • A logo for your coin - png format with a transparent background.  The logo should be square with dimensions of 1000x1000 pixels with no white space on its border and no taglines.  It should only be a logo and expect it to show up in multiple spots in the Bittrex UI. 
  • Launch Date (past or future)
  • Github Link - We only accept source code.  We will not run a binary that you provide us.  
  • Did you raise money/bitcoin to launch your coin?  (i.e. a CFC/ICO)
  • Did you have a premine?  How much is it?  Is it escrowed?
  • What is the max money supply for your coin?
  • Exchanges you are currently on
  • Official blockchain explorer
  • What is your TxFee for a transaction
  • Any social media information such as your official website, twitter account, facebook page, subreddit, etc.

 

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We have to check if @fedde or someone else had already tried contacting them. I didn't.

Otherwise, @sunicoin you can be in charge of coordinating this. The rest of us can help you get the information. I know the answer to a couple of those questions, but it will have to wait until this evening (EST). Would you like to do that? Any ideas you had on promotion, too, you may advance.

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Problem with getting added on other exchanges are the scary part of the demurrage.  

Bter, bleutrade etc etc had us on, but very high fees to compensate the demurrage loss in the wallets. Others that have added freicoin, tend to get scared when they see balances decrese in the wallets and probarly triggering som alerts in their systems.

But on the other side we are much better enpowered today as we have a working block explorer with demurrage, all over a better network i would say, so why not give it a shot. I can't take care of it, but if someone else will take the task, go ahead.

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51 minutes ago, Skaro said:

Otherwise, @sunicoin you can be in charge of coordinating this. The rest of us can help you get the information. I know the answer to a couple of those questions, but it will have to wait until this evening (EST). Would you like to do that? Any ideas you had on promotion, too, you may advance.

For add new coins: The member must be either a core developer or a major shareholder (10% or more) of a company that backs the development of the coin.  That member will need to submit identifying documents to get their account enhanced verified.  

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Do any of you guys remember those Elvis Presley movies? The one where he is a boat racer / cliff diver? He gets in this cliff diving competition against the 'antagonist' and, of course, there is a girl involved. Yeah, that's what the Bitcoin price chart looks like today... 

IMG_2533.PNG

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at this point i would not recommend to add Freicoin to any other exchange.

if we dont have enough volume we will loose again the Exchange.

Coinmarketcap also dosnt display the Freicoin trading volume right...

I would concentrate on first updating the Clients and bringing projects like trading rewards, universal divident new clients etc to run.

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