Freicoin Alliance will support payments / investments / donations in Freicoin.

[Bicknellski 276]

As an Idea initially posted in the Freicoin Community Forums by Arcurus:

 

What would really help to boost Freicoin is if the Alliance would support payments / investments / donations in Freicoin.

 

In the beginning this could look like that:

 

The Freicoin Alliance (or a project to handle this) is registered on the Freicoin web for donation matching.

 

• In the beginning instead of directly paying, one pays to this registered project, the project then pays to the payment provider (or shop).
• After the donation matching (or even before if the project has some reserve Freicoins), the buyer gets the matched Freicoins.
• 50% of the matched Freicoins go to an registered non profit on the choice of the user.
• To be fair the extra Freicoins per user are limited (users are allowed to group up).
• Later on the paying could be directly done over an payment provider if the payment provider cooperates.
• The same procedure could also apply for investments and donations, even to non Freicoin accepting NGOs

 

This could be advertised like: Pay / invest or donate in Freicoin and get 5% Freicoins back and 5% to an registered non profit of your choice! *

Also proxy payments and donations to Bitcoin businesses and NGOs are supported at an reduced rate (up to 3%) and 3% to an registered non profit of your choice!

 

*to guarantee fairness the maximal payment amount per user will be be limited.

 

This could really boost Freicoins especially if the donation matching would be increased to 50%.

 

Imagine that:

 

This could be advertised like: Pay / invest or donate in Freicoin and get up to 25% Freicoins back and up to 25% to an registered non profit of your choice!*

Also proxy payments and donations to Bitcoin businesses and NGOs are supported at an reduced rate (up to 15%) and up to 15% to an registered non profit of your choice!

 

This could really boost Freicoin like anything!

 

And because it could be limited per user it could be really fair!

 

Just as an idea.

 

All the good,

 

Arcurus

[Bicknellski 276]

Like this idea. Do we need to get the Freicoin Alliance set up as a non-profit first?

 

If so please can we do this 'offshore' in some place that is free of US taxation / oversight?

[Arcurus 331]

,,, not necessarily as long as the Freicoin Alliance, or another project fulfills the mission statement of the Freicoin Foundation;

 

From: https://foundation.freicoin.org/#/:

 

"The Freicoin Foundation seeks to create a world where commonplace non-usurious complementary currencies inspired by the works of Silvio Gesell are brought into being through economic development, charitable action, and the support of global commons and which engender perpetual prosperity through sustainable development.

The Freicoin Foundation will issue 80% of the total initial Freicoins through several issuance mechanisms that are safe from potential corruption from the Foundation management team itself.

 

One of those mechanisms is to match Freicoin donations to non-profit organizations and other projects listed on this site. The foundation will periodically give away some freicoin to those organizations in proportion to how much they have received in donations through this site. Help decide how the Foundation's funds are going to be used by donating to your preferred non-profit organizations and projects on the donations section. The foundation will increase the amount of FRC you donate by 10%.

 

If you're a non-profit organization or part of a project that fits the goals of the Freicoin Foundation (described in the first paragraph of this page), register in this site and list your organization on the donations section. Start receiving Freicoin donations as well as newly issued Freicoins."

[Bicknellski 276]

So what would be a good starting point then for your idea Arcurus?

1. We should set a project up here and then get it registered on Freicoin Foundation page.

We will need to have a tight clear objective for this though and some timeline to achieve goals. In the past there have been a lot of ideas and little or no follow through on them. Personally willing to invest time and FRC into this project if we have a solid plan and timeline and the team to complete it.

As for "donations" going to the project and matching I am not too concerned necessarily with that as we can probably fund everything we do internally. At this point with so little time left massive amounts of Foundation coins will be destroyed. 

 

I think it is important that the code for that be worked on by a team of concerned stakeholders and vetted and checked by the developers. 

[Bicknellski 276]

I need to understand how a company would even bother with such a system considering so few people hold FRC even fewer mine it.

 

Should our work not be first to build a mining base and to develop more infrastructure (bootstrapping) so the use of the coin is much easier. Given that exchanges and p2pools have difficulty even now just implementing the demurrage and stratum what hope is there if payment gateways developed are not already fully integrated to handle demurrage or continue to have only 1 or 2 pools that dominate the coin.

 

I want projects that have some hope of pushing the coin into a much wider community of users. As such I just need you to clarify for me where as you say:

 

Imagine that:

 

This could be advertised like: Pay / invest or donate in Freicoin and get up to 25% Freicoins back and up to 25% to an registered non profit of your choice!*

Also proxy payments and donations to Bitcoin businesses and NGOs are supported at an reduced rate (up to 15%) and up to 15% to an registered non profit of your choice!

 

This could really boost Freicoin like anything!

 

 

I don't see any boost possible when there are a total of 10 miners maximum and 20 total users of the coin. We seems to be forgetting that we have no real "community" at this stage.

 

Currently anyone with $5000 USD can be more than 50% of the hash power on FRC. With roughly $8000 or less you can be nearly 80% of the hash rate. So anyone could control the network for any reason.This is VERY VERY VERY dangerous and something even Bitcoin acknowledges is a problem with BitFury owning most of the network. 

 

Currently the hash rate is dominated by a single pool with nearly 80% with only 3 Th/s. This alone is pause for anyone looking at FRC as a longer term investment. It is I think a critical note to make that we need diversity first before we have grand ideas of redistributing the foundation coins. Only way for that diversity to occur is through getting the word out about FRC but also allowing the multipool or other switching pools to mine Freicoin freely so that the coin is distributed into more hands. Merged mining is possibly the only solution given that there is no user base currently or likely unless we have significant profitability swing that can be sustained on FRC.

 

For months there has been an effort to collapse and manage the price of FRC on cryptsy in order to keep Multipool and iSpace off mining the coin. This was clearly indicated by the profitability % being dropped as soon as it reached 90% to 100% of BTC it was also the stated objective of FRC miners to keep multipool off FRC. That has kept coins out of many people's hands and limited the base of potential users thus we are in a perpetual spiral downwards decreasing the miner base and devaluing FRC to all time lows. We need to find ways to diversify the mining base so those with a few terrahash won't be able to manage and manipulate potential switching mining pools from mining on FRC.

 

Low profitability of the coin makes it less desirable to mine and therefore less likely to grow and expand into a greater base of users. We need to disrupt the current status quo and get more users.

 

How do we break this cycle?

Is a focus on non-profit and spreading coin without any measurable user base realistic?

How do we get more miners?

How do we get more users?

How do we get more people using FRC?

Where should we spend our limited time and FRC to get the biggest impact?

When 11 Th/s pops up and difficulty goes sky high and disrupts those trying to continually suppress the price / profitability we all need to be sufficiently apprehensive about ANY small group of miners in FRC that are attempting to restrict the mining of others?

[Arcurus 331]

So what would be a good starting point then for your idea Arcurus?

1. We should set a project up here and then get it registered on Freicoin Foundation page.

We will need to have a tight clear objective for this though and some timeline to achieve goals. In the past there have been a lot of ideas and little or no follow through on them. Personally willing to invest time and FRC into this project if we have a solid plan and timeline and the team to complete it.

As for "donations" going to the project and matching I am not too concerned necessarily with that as we can probably fund everything we do internally. At this point with so little time left massive amounts of Foundation coins will be destroyed. 

 

I think it is important that the code for that be worked on by a team of concerned stakeholders and vetted and checked by the developers. 

 

 

 

Here is the plan:

In the beginning we need not code anything, we just can do everything by hand. 

We should keep it very simple in the beginning.

 

If it functions well, then we can automate stuff.

I will later on describe in detail how we could start very easily in an manual way.

 

What we need to do?

First most important we just must make sure we get the acceptance from the Freicoin Foundation./ the Freicoin Community, or more direct said Jitmon and Maaku.

 

So what to do:

As soon as I find some time (this week) I will setup a small freipay site with more details over the payment project,

 

The next step would then be do post in the Freicoin Forum, so that everyone can easily give feedback..

 

After that, we register this payment project on the Freicoin web,to apply for coin matching. 

 

The critical point here is, that we get the acceptance for the coin matching.

 

After that we can just start to process the payments manually.

 

Later on if it functions we could automate it, or make a cooperation with payment providers.

 

I will take care of describing the project and setting up the base website with the information.

 

What we need is one at least two or three people who could take care of processing the payments manually in the beginning this should be enough.

 

I don't expect 1000 of payments in the start.

 

All the good, Arcurus.

 

P.s.: Can some admin look into it why I don't get a mail when a response is posted? 

[Arcurus 331]

I need to understand how a company would even bother with such a system considering so few people hold FRC even fewer mine it.

 

Should our work not be first to build a mining base and to develop more infrastructure (bootstrapping) so the use of the coin is much easier. 

...

 

 

What Freicoin needs is not more miners what Freicoin needs is a clear vision.

Just having a coin that demurrages away is not enogh.

We need a vision that shows why Freicoin is useful.in the longer run.

For that a project that uses the demurraged coins to make Freicoin payments 10% or 50% cheaper (at least in the initial phase) is a clear vision why someone should pay / invest / or donate through using Freicoin. 

 

The securing of the coin is another problem. How to solve that I described already in the Freicoin Forum*. 

But that problem is second, because if we have no good vision for Freicoin, with or without miners, nobody will use Freicoin.

 

 

* For example through supporting Freicoin miners with donation matching, or even better switching to proof of donation, or proof of stake. But securing the blockchan is another topic that we should discuss separately.

And no, mining will not help much anymore to spread the coin,that was in the pre asic phase..

 

All the good,

Arcurus

[Bicknellski 276]

Have you seen the payment gateway set up by Fed?

 

http://www.sicanet.net/index.php?route=product/product&product_id=50

[Arcurus 331]

Sounds nice.

For the project payment integration would be a step after the manual Alpha is over.

[Arcurus 331]

Here is now a more detail project description:

http://freicoin.freeforums.org/post8280.html#p8280

 

This proposal tries to be more close to the Economy for the Common Good Movement.

http://en.wikipedia.org/wiki/Economy_for_the_Common_Good

 

Look forward for your thoughts!

[Arcurus 331]

By the way: Cointopay the payment gateway you mentioned seems to be really nice

 

 

New Geo vision: Cointopay land

"Cointopay will launch a kickstarter to create "Cointopay land", a "holy ground" for people that are producing knowledge and innovation and don't want to be ruled by non-intellectual institutionalized technocrats, it is for people who have a worldview that is non-violent, self-existential, self-deterministic and based on libertarian principles. We will not hide it, we are a huge fan of Ron Paul from the United States."

 

 

https://cointopay.com/B_Detail.jsp?ID=19

 

It would be really great to cooperate with them.

[Bicknellski 276]

Reviewing information... like the common good idea. 

 

Yes Cointopay team is very committed to helping us and Freicoin now that Fed is working closely with them on that gateway. You can now open stores using Freicoin with sicanet and cointopay.

[Arcurus 331]

UPDATE:

Here is now an more Detailed description.

Please continue discussion there:

 

http://freicoinalliance.com/topic/100-freirepublic-freieconomy-help-to-propagate-a-common-good-economy/