Rewards system for FAH donors

I think most of the folks that frequent these forums are somewhat familiar with Bitcoin, what/how it is used, the news articles that come out about it, and the arguments made on both sides. Let's keep the discussion here about Folding Coin being implemented with FAH & other DC projects or else the topic really belongs in the crypto currency section. I am seeing this topic getting de-railed into a pro vs. con for Bitcoin which is a completely different topic.

Edit: And since the BitcoinUtopia (yes a DC project) threads were moved to the crypto sub section, perhaps this discussion should be moved as well?
 
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This is not the same thing as bitcoin Utopia with this they are actually doing science not hashing so it is not a bit currency type of thing. This is using bit currency as a reward or motivational tool. I think it belongs here. While I may not believe in the current bit currency system what they are suggesting really is not supporting that system it is supporting doing science work.

Which is one good way the system can be used, I have no problem with it as long as people do realize there is a good possibility the reward may be no better than Monopoly money in the end and that we do not have to change our folding name or team which they are trying to figure out a way to do that.
 
I have a feeling we will always disagree on this Grandpa_01. BU supports the science projects. Folding Coin rewards the donors instead. That is the difference. So, other than that, not much but what lies under the hood. Neither coin is doing science. Both are supporting science in their own way. However, it could be easier argued that BU supports directly whereas folding coin is only supporting by either a) bringing in another user (which BU could do as well) or b) the donor takes that currency and puts it back into supporting the science (which is basically what you are doing with BU). Now operationalwise, BU does take a cut. Foldingcoin, I honestly don't know what the developers get out of it...

So, despite which road you travel, it is the same course. Agree to disagree.
 
One has a far greater potential and incentive to increase the computational power of DC the other has a far greater potential to reduce the computational power of DC.

Every DC project I have seen has a little button on there website that says donate money here. and another button that says download software here. All of the projects have a stats site it has points or whatever you wish to call it as a record of your contribution. No where do I see a column called $ dollars donated, those stats are somewhere else if they are even kept. I choose to donate computational power and support that aspect, Hash marks have nothing to do with science, it is all about a currency. BU is about nothing other than trying to bolster a unbacked currency.

You can try and paint it into a rose all you want it is still just a turd, that will most likely never be anything more than a turd. ;)
 
Grandpa_01

http://www.bitcoinutopia.com/2014/03/aquaponics-setup/
http://www.bitcoinutopia.com/2014/03/hopegames/#.VGe8v8kl-PU
http://www.bitcoinutopia.com/2014/07/milkywayhome/
http://www.bitcoinutopia.com/2014/08/mars-colonization-publishing/
http://www.bitcoinutopia.com/2014/10/boincstats/#.VGe9Mskl-PU
https://blockchain.info/address/1QGTFfG5Rj6i3RSFTshVYjzhMQdYiHB5p1

You know where these links were located? Front page. So, right there is where the donations are documented. Also, keep in mind that while running BU you should (though I haven't researched it in full) be able to also utilize Gridcoin at the same time. They also can run more than just Bitcoin at BU as far as cryptos go.

Then to also take your every DC project has little buttons statement further. Perhaps you haven't seen theskynet POGS? Oh wait. Your 68,242,750 points says otherwise. They have not had a donate button as of yet. They are still discussing whether users would frown upon that. They are also considering accepting help from BU because they see the potential. Then there is DIMES that you supported. Or is there another Grandpa on our team with 7,560,220 measurements? I don't believe they have a donate button. If they do, then it is buried somewhere out of site. Those are just a few. There are a few more, but I think you get the point.

As far as being able to donate money? You are right that most projects (not all) have a donate button where you can contribute their chosen currencies. Yet some don't accept bitcoin for various reasons and concerns that may be shared by you or similar or completely unrelated. I haven't asked them. However, BU is willing to convert the money to US $$ or Euros for them if they don't.

I choose to donate computational power and support that aspect, Hash marks have nothing to do with science, it is all about a currency.
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And yet, again you make this unrelated boast about hash marks not being science. How about you point where someone said it was. Oh wait... you probably can't. But yet that is your go to. Those hash marks as you call them, still create a currency that helps fund some of the DC projects and other sciences. But wait. How could that be. You claim they don't help science at all. Maybe my US dollar doesn't do that either... And while we are on that topic, your follow up sentence
BU is about nothing other than trying to bolster a unbacked currency.
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There are at least 6 campaigns linked above that have been slightly bolstered or are being bolstered by it.

Your first sentence however, may be true. But whether one can or will bring more power is irrelevant to your claims or even the point. Why should there be one option? Why one path? You chose to avoid these so far and that is your right. That doesn't mean all of the others are wrong or even bad. Just not your cup of tea.

Oh... and just because by design one can theoretically take away resources from DC projects doesn't mean it does. Some projects don't utilize all available "traditional" hardware such as AMD GPU's. If someone isn't supporting an AMD GPU project already and runs it at BU, there is nothing taken away. Only truly added because that contribution as described above now changes into a crypto that can help finance that project. So again, your point is moot. Especially when the majority of the resources going into BU currently is pretty much ASICs.
 
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I see nowhere where it shows how much each individual donated is it $0.02 cents or $20.00 dollars.

Those projects no longer have my computational power or that of a few others since they are associated with boinc which has gone down a path I will not support.

I am pretty sure there are people within this very forum that have gone down the path of bit currency that have been burned pretty badly it is full of corruption and dishonesty it's goal is to create a alternative currency which is not taxed thus does not support any kind of a social network safety net public program or Government agencies of any shape or form. I do not support that and will not, if that is the type of world you wish to live in then so be it. I prefer to help my fellow with something that is actually helping rather than trying to destroy.

My point is not moot it is only moot to those who wish it to be, to many it is quite relevant. If you want to argue with this old fart come to the table with something that shows the currency will support a society of human beings rater than something that tears it down.

Most of the actions I have seen from the bit currency leadership has been selfish. Just look at what BU is doing in boinc rather than doing as asked and having a reasonable points reward system they went way out in left field. There was no reason for that other than greed they have single handedly destroyed a points system that has been around for years. I know you support it and that is your choice. I do not want to know your justification for it no do I care, if that is the path you wish to walk then walk it I will not follow.

These are only my opinions and my values I do not expect anybody else to follow them. I also will not change them, they are what I believe in and I will stand by them. If you or anybody else can show me where bit currency meets these then I may have a change of heart. But hollow argument will get you nowhere with me.

I said in my first post that I would support FLDC so I am not quite sure why you are trying to change my mind. ;)

I myself like my chosen DC project community and my current points. (Did I leave out the part that I am a male Homo Sapiens and thus completive) and the thought of changing my name to Grandpaxxxxxxxxxxxxxxxxxxxxxxxxxxx is not appealing to me. In fact changing anything really is not appealing to me. Although I do like to collect things such as points if I did not have to change anything the collecting folding coins would also be appealing although to me they have no more value than points do. But it is something else to compete in.
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I'm not trying to convince you to not support FLDC. I'm trying to keep you from contradicting and being hypocritical. Do you support FLDC because they are giving you free cryptos? Since it doesn't address any of the concerns you mentioned about Bitcoin, I don't see how it gets the approval stamp... You know Ripple Labs gave cryptocurrency away too. Only difference is you had to switch teams. They stopped before changing that requirement. I also don't see how cryptocurrency killed WCG's stats/point system. Still looks the same after a decade of research. Or how about POGS. BU didn't change their stats. But I guess you think the client used ties all of the DC projects together as one. So, somewhere BOINC became the project. Or is there something I missed. You pulled your support from really good projects because of a stats site and a single DC project. That is really messed up. You do know that Free-DC has the option to compare projects that excludes cryptos right? Sad that you punish BOINC projects because someone used open source software. I guess that also means you should stop using Linux because they have systems using that too. So do a lot of cyber criminals. But lets be serious and get back to focusing on what is important.
 
Gilthanis said:
I think most of the folks that frequent these forums are somewhat familiar with Bitcoin, what/how it is used, the news articles that come out about it, and the arguments made on both sides. Let's keep the discussion here about Folding Coin being implemented with FAH & other DC projects or else the topic really belongs in the crypto currency section. I am seeing this topic getting de-railed into a pro vs. con for Bitcoin which is a completely different topic.

Edit: And since the BitcoinUtopia (yes a DC project) threads were moved to the crypto sub section, perhaps this discussion should be moved as well?
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My apologies :( I will keep on topic
 
Grandpa_01 said:
This is not the same thing as bitcoin Utopia with this they are actually doing science not hashing so it is not a bit currency type of thing. This is using bit currency as a reward or motivational tool. I think it belongs here. While I may not believe in the current bit currency system what they are suggesting really is not supporting that system it is supporting doing science work.

Which is one good way the system can be used, I have no problem with it as long as people do realize there is a good possibility the reward may be no better than Monopoly money in the end and that we do not have to change our folding name or team which they are trying to figure out a way to do that.
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From reading your comments I can see that you are not a fan of crypto obviously, but i also see that you recognize the potential of FLDC possibly increasing the network and thats great :) I know it will be hard to convince you to accept them, but if you do, that can help in the adoption of FLDC which in turn could bring more folders. But you giving great feedback is good enough for me as well :)
 
Gilthanis said:
I have a feeling we will always disagree on this Grandpa_01. BU supports the science projects. Folding Coin rewards the donors instead. That is the difference. So, other than that, not much but what lies under the hood. Neither coin is doing science. Both are supporting science in their own way. However, it could be easier argued that BU supports directly whereas folding coin is only supporting by either a) bringing in another user (which BU could do as well) or b) the donor takes that currency and puts it back into supporting the science (which is basically what you are doing with BU). Now operationalwise, BU does take a cut. Foldingcoin, I honestly don't know what the developers get out of it...

So, despite which road you travel, it is the same course. Agree to disagree.
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I believe I am on Grandpas side here, and this is why:

With BU they are mining other blockchain coins and trading them for BTC then to USD. This is using the mining power to accomplish this. All Altcoins start somewhere with no value, FLDC is new and does not have the liquidity yet of lets say Litecoin. BUT if one was to support FLDC instead, they could just sell the FLDC for BTC and donate to the different projects. This would do the same thing that BU does in a sense where the money mined is given to DC projects, but also you have the added benifit of doing useful project crunching instead of blockchain crunching.

And as for what the developers get out of this, we have been receiving FLDC since day one. The PookTwo username has generated over 8 million FLDC (with about 7 million in circulation) and 4 million of that has been given away so far. We the developers plan on keeping around 0.5 million each from the initial launch (plus whatever we currently fold now) but the benefit we receive is making the coin valuable. This isnt necessarily a get rich plan for me, hell i dont even expect FLDC to be an everyday use coin. Our main goal is to find more productive uses for these GPU farms that can no longer mine ALTs due to the Scrypt ASICs. Also no coin will ever beat BTC, but with counterparty tokens (like FLDC0 that are built into BTC, there is a lot more that can be done since its all shared on one network.

Thats not to say we dont want to find uses for the coin, we are actively working on that (game currency is the most attractive) but right now you can think of it this way:
Support those that do DC buy buying FLDC. I know that giving money to the projects is a good thing and great way to support them if one does not wish to actually maintain farms / PCs to do the work.

The $200 in electricity I spend a month is not necessarily me donating WU to FAH, rather its FAH outsourcing their WU to me. That in a sense makes us all our own individual charities (its a bit of a stretch, but i hope you get what i mean). So if someone buys FLDC of someone, that helps support them to continue to fold. I no I am new to the space, but I have to assume there has been big folders in the past that no longer do it because of financial reasons.
 
Grandpa_01 said:
I see nowhere where it shows how much each individual donated is it $0.02 cents or $20.00 dollars.

Those projects no longer have my computational power or that of a few others since they are associated with boinc which has gone down a path I will not support.

I am pretty sure there are people within this very forum that have gone down the path of bit currency that have been burned pretty badly it is full of corruption and dishonesty it's goal is to create a alternative currency which is not taxed thus does not support any kind of a social network safety net public program or Government agencies of any shape or form. I do not support that and will not, if that is the type of world you wish to live in then so be it. I prefer to help my fellow with something that is actually helping rather than trying to destroy.

My point is not moot it is only moot to those who wish it to be, to many it is quite relevant. If you want to argue with this old fart come to the table with something that shows the currency will support a society of human beings rater than something that tears it down.

Most of the actions I have seen from the bit currency leadership has been selfish. Just look at what BU is doing in boinc rather than doing as asked and having a reasonable points reward system they went way out in left field. There was no reason for that other than greed they have single handedly destroyed a points system that has been around for years. I know you support it and that is your choice. I do not want to know your justification for it no do I care, if that is the path you wish to walk then walk it I will not follow.

These are only my opinions and my values I do not expect anybody else to follow them. I also will not change them, they are what I believe in and I will stand by them. If you or anybody else can show me where bit currency meets these then I may have a change of heart. But hollow argument will get you nowhere with me.

I said in my first post that I would support FLDC so I am not quite sure why you are trying to change my mind. ;)
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I would so love to have a skype chat with you sometime :) I am learning alot from this thread about DC, BOINC, FAH, ext... and it seems just like every industry there are 2 very passionate sides. But it is unfair for you to label the BTC community as a whole corrupt, one great thing that BTC can do is bring finance to the unbanked, but once again we all need to keep the focus away from BTC pros and cons arguments. Please do add me on skype or email me sometime, you say if someone can show you the value you may have a change of heart, i believe i can do that with a skype or email conversation

my skype: foldingcoin
my email: [email protected]

But remember this, when the internet came out it was labeled as a paradise for nerds, child pornography, thieves, and general crimnal activity.... but we all now no that the internet is so much more than that. Bad exist in every industry and technology, that doesnt mean you throw the baby out with the bath water.
 
Gilthanis said:
I'm not trying to convince you to not support FLDC. I'm trying to keep you from contradicting and being hypocritical. Do you support FLDC because they are giving you free cryptos? Since it doesn't address any of the concerns you mentioned about Bitcoin, I don't see how it gets the approval stamp... You know Ripple Labs gave cryptocurrency away too. Only difference is you had to switch teams. They stopped before changing that requirement. I also don't see how cryptocurrency killed WCG's stats/point system. Still looks the same after a decade of research. Or how about POGS. BU didn't change their stats. But I guess you think the client used ties all of the DC projects together as one. So, somewhere BOINC became the project. Or is there something I missed. You pulled your support from really good projects because of a stats site and a single DC project. That is really messed up. You do know that Free-DC has the option to compare projects that excludes cryptos right? Sad that you punish BOINC projects because someone used open source software. I guess that also means you should stop using Linux because they have systems using that too. So do a lot of cyber criminals. But lets be serious and get back to focusing on what is important.
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I know this was from an earlier comment that you said about BU, but i want to emphasize that its fantastic the Scrypt ASICs help BU, that is a perfect use for them! As for GPUs on BU, that is a waste of resources. Correct me if you disagree with that statement.

As for what Gilthanis says Grandpa he is right about his Linux comment, and for that matter i wish to throw TOR in the mix. TOR is the ultimate hide your identity so much more than BTC could ever even dream of being, but it has fantastic humanitarian uses. In America and developed nations not so much, i would guess if your an American using TOR your probably (not always) up to no good. But as for people fighting against corruption in third world nations who aren't aloud to speak freely against their governments, it great! It gives them a chance to coordinate rallies and organize without worry of their governments knocking on their door (as long as they know how to set it up lol).

For transparency sake it is i feel my obligation to inform you all that FLDC is almost exactly like Bitcoin in everyway. The concerns of Government regulations on BTC applies to all cryptos. FLDC doesnt have real value yet so uncle sam isnt knocking on my door, but also there is a giant grey area with cryptos still. The best advice for anyone looking to receive FLDC is to treat it like a stock, heres how:

If you choose to receive FLDC by folding, then you do not have to claim it on your taxes unless you sell it. Since you are creating it, when you sell it, you acquired it with no value upon its creation therefor 100% of it is taxable.

Now should you choose to buy it off someone (heres the grey area) you must record the amount you purchased and the amount you paid at the time of purchase (this can actual be done automatically via the blockchain network). Then it fails under capital gain and loses, so if you buy a FLDC at $0.02 and it becomes worth $0.04 when you sell, you must claim $0.02 as capital gains. And the opposite for a lose, if you buy at $0.02 and it becomes worth $0.01 when you sell, you may actual deduct that from your taxes as capital losses, Treat it as a stock at this time until the government regulates it better.
 
Yes BU is mining other blockchin coins as well. The problem is that I don't see why many would bother purchasing FLDC just to support the coin. That is pretty much what that scenario is since you can just donate to the DC cause direct. That is similar to the arguments made against BU since not all of the mining resources are efficient enough to get more out than the resources put in. However, the other big difference is that the people doing BU are there for the full donation of what is mined without any fuss or muss on the donors part. FLDC goes to the person and thus means the person has to set up and maintain the wallet. Then the person has to do the conversions and overhead. BU does all of that for you. So, less setup needed on the donors side. Your argument of them to just support FLDC to sell and donate direct has these hassles that some of us find simpler to just let the project BU do for us. That is a selling point for many whom didn't jump on the mining movement. I have a few ASICs that were donated to me for testing and if I feel continued usage. I know it isn't efficient for my hardware to mine. So, I don't. I also don't have a desire to get heavy into it. However, if I got a free handout for what I was already doing and didn't have to switch names/teams then I don't see why not. I find that to be appealing. I still don't see it catching on as most people care nothing for anything but Bitcoin. Which makes the 1000's of altcoins nothing more than a joke for hobby traders to gamble on. With FLDC being handed out free, there is no loss unless you are one of the gamblers that actually buys it. That tells me that it will never have much value. However, I do know the power of fads and trends. Ripple Labs brought a lot of power to WCG for a short period of time. It is still debated on how many were miners coming over and how many were established DC'ers jumping on free currency and creating new accounts so they didn't get the social backlash of jumping teams. The only thing that was for sure was that in the beginning while the XRP's were easy to get, there were many bringing more resources to the project. However, the difference you will find between the FAH community and the BOINC community is that many BOINC'ers jump projects quite a bit or support several at once. Some cross between FAH and BOINC but you will find that there is a wall there that many never cross. So, the resources brought over to WCG was potentially just taking away from other projects. If FLDC catches on, that could still be true from BOINC to FAH.
 
Gilthanis said:
Yes BU is mining other blockchin coins as well. The problem is that I don't see why many would bother purchasing FLDC just to support the coin. That is pretty much what that scenario is since you can just donate to the DC cause direct. That is similar to the arguments made against BU since not all of the mining resources are efficient enough to get more out than the resources put in. However, the other big difference is that the people doing BU are there for the full donation of what is mined without any fuss or muss on the donors part. FLDC goes to the person and thus means the person has to set up and maintain the wallet. Then the person has to do the conversions and overhead. BU does all of that for you. So, less setup needed on the donors side. Your argument of them to just support FLDC to sell and donate direct has these hassles that some of us find simpler to just let the project BU do for us. That is a selling point for many whom didn't jump on the mining movement. I have a few ASICs that were donated to me for testing and if I feel continued usage. I know it isn't efficient for my hardware to mine. So, I don't. I also don't have a desire to get heavy into it. However, if I got a free handout for what I was already doing and didn't have to switch names/teams then I don't see why not. I find that to be appealing. I still don't see it catching on as most people care nothing for anything but Bitcoin. Which makes the 1000's of altcoins nothing more than a joke for hobby traders to gamble on. With FLDC being handed out free, there is no loss unless you are one of the gamblers that actually buys it. That tells me that it will never have much value. However, I do know the power of fads and trends. Ripple Labs brought a lot of power to WCG for a short period of time. It is still debated on how many were miners coming over and how many were established DC'ers jumping on free currency and creating new accounts so they didn't get the social backlash of jumping teams. The only thing that was for sure was that in the beginning while the XRP's were easy to get, there were many bringing more resources to the project. However, the difference you will find between the FAH community and the BOINC community is that many BOINC'ers jump projects quite a bit or support several at once. Some cross between FAH and BOINC but you will find that there is a wall there that many never cross. So, the resources brought over to WCG was potentially just taking away from other projects. If FLDC catches on, that could still be true from BOINC to FAH.
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I have really noticed the FAH vs BOINC mentality.... cant we all just get along :D lol

I will say i agree that almost all the altcoins are joke coins and i would even go as far to say MOST are scam coins with the devs looking to make a quick dollar on speculation. However I disagree that FLDC is given away free, you must gain FAH credits in order to receive FLDC. Many folks I talk to at the LTB forums do not have farms and they say its actually to hard to get FLDC from running a CPU, so they simply buy some of masterxchange.com.

As for the hassle part of the argument, it really isnt a hassle. It is so easy to learn how to use counterparty. Its not like other alts where you must have each individual wallet downloaded on your computer, its all web based and holds all currencies from CP in one wallet. I think its possible to make the argument that its new and people in general hate change and dont like to mess with new technologies, but i find that hard to believe in a computer space. People who can setup BOINC can most def setup a CP wallet in about 20 seconds. And as for the exchanging to BTC, thats also a very simple process. By taking an extra 5 minutes to put your GPUs on a BOINC or FAH project rather than BU allows for the GPUs to do useful work while gaining a token to sell to give back. Hell, ill set something up on the foldingcoin.net website to send your unwanted FLDC to us and we will sell them for you and donate to a DC project just as BU does.
 
And as far as whether it is smart to run GPU's at BU, I agree it would not be efficient. However, you are assuming everyone pays for their electric bill. That isn't the case. So those people will utilize those resources. Think college dorms. The power usage will not increase their bill each month. They will use that electric to mine a ton on. Some people use their works electricity. Yes it is quite common even though very risky, they still do it.

And as Grandpa_01 states, there are some people whom will just run it for the points. I find that to be shitty and nonsensical, but most of the the work units sent out are for ASICs. Just looking at the stats and setups show that very few are wasting their time running CPU or GPU.
 
Gilthanis said:
And as far as whether it is smart to run GPU's at BU, I agree it would not be efficient. However, you are assuming everyone pays for their electric bill. That isn't the case. So those people will utilize those resources. Think college dorms. The power usage will not increase their bill each month. They will use that electric to mine a ton on. Some people use their works electricity. Yes it is quite common even though very risky, they still do it.

And as Grandpa_01 states, there are some people whom will just run it for the points. I find that to be shitty and nonsensical, but most of the the work units sent out are for ASICs. Just looking at the stats and setups show that very few are wasting their time running CPU or GPU.
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That makes sense, I would agree with the ASICs helping in BUs goal, i think thats a great use for them. But I will say due to the nature of amperage, someone in a dorm would be blowing circuits if they ran an operation comparable to mine in there (also heating would be a problem) and I know some people do it at work, but this can be an IT nightmare and I would assume most of the time is caught right away (unless its one of those offices that everyone runs their own computers rather than server). But untimely those are not the immediate targets for FLDC, our target is the miners in which we wish to bring over. But to convince miners to come over, we need help in adoption and a good way to do that is by recruitng FAH folders to accept our FLDC
 
I will say i agree that almost all the altcoins are joke coins and i would even go as far to say MOST are scam coins with the devs looking to make a quick dollar on speculation. However I disagree that FLDC is given away free, you must gain FAH credits in order to receive FLDC. Many folks I talk to at the LTB forums do not have farms and they say its actually to hard to get FLDC from running a CPU, so they simply buy some of masterxchange.com.
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Let me clarify, being this is a DC forum, most of the people here are already Folding/Crunching. So, yes they are getting FLDC for free. If you were pitching this to a miner, then yes they would have to earn it. See the difference?
 
Gilthanis said:
Let me clarify, being this is a DC forum, most of the people here are already Folding/Crunching. So, yes they are getting FLDC for free. If you were pitching this to a miner, then yes they would have to earn it. See the difference?
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Yes I see your point with that, and putting it that way makes sense and i agree. But i think we would both just be splitting hairs discussing the wording there.
 
Not really splitting hairs but how things are presented based on the audience. Selling ice cubes to Eskimos is quite difficult unless they are in a warm climate. ;)

I find that IT types find ways around the issue. For example, I can tether my laptop to my cell phone at work and attach an ASIC miner to the laptop. Unless someone questions why it is there from seeing it at they walk by, there is no noticing. Being an IT environment, people just make assumptions. Now granted that means I only have internet for those 8'ish hours. But the point is that they will do what they need.

I also know that there are many out there that have electric included in their rent. So the landlord eats the cost. Being a former landlord, that would be unethical and a huge dislike. However, that is one of the risks you take doing deals like that. And yes, people will exploit that.\


Edit: And as a good example, at my job, I have a laptop that I leave there running 24/7 as well as 4 Android cell phones that are also DC'ing 24/7. All powered by my job and none of them on the domain. As long as they don't go on the domain, they don't care that it is there. The power draw is little.
 
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Gilthanis said:
Not really splitting hairs but how things are presented based on the audience. Selling ice cubes to Eskimos is quite difficult unless they are in a warm climate. ;)

I find that IT types find ways around the issue. For example, I can tether my laptop to my cell phone at work and attach an ASIC miner to the laptop. Unless someone questions why it is there from seeing it at they walk by, there is no noticing. Being an IT environment, people just make assumptions. Now granted that means I only have internet for those 8'ish hours. But the point is that they will do what they need.

I also know that there are many out there that have electric included in their rent. So the landlord eats the cost. Being a former landlord, that would be unethical and a huge dislike. However, that is one of the risks you take doing deals like that. And yes, people will exploit that.
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True, but a lanlord over time will catch onto this and make appropriate changes to the lease. And unless it is specifically spelled out in the lease to not do activity like FAH, i dont think i would consider it unethical.

And as for the office setting, as a former IT admin I actually disagree with the entire office settings. It is a waste of a building, thin clients could be assigned to employees to work from home. This would make it so programs like FAH could not be installed on company property and the clients just attach to a server that is regulated. That was a side point though :)

Also I forgot to add, the Eskimo comment was great!
 
PookTwo, I agree about thin clients and such that "could" be implemented. However, most IT locations don't ever deal with miners. So, they don't bother. There is also a big difference between real world cost and theoretical cost. So it all comes down to your IT needs. But that isn't the point. Mine was just an example of the point. People that have access to cheap or free resources will use it however they can. That is why there are still people using CPU's and GPU's as well as low end ASICs that aren't worth it to most people.
 
Gilthanis said:
PookTwo, I agree about thin clients and such that "could" be implemented. However, most IT locations don't ever deal with miners. So, they don't bother. There is also a big difference between real world cost and theoretical cost. So it all comes down to your IT needs. But that isn't the point. Mine was just an example of the point. People that have access to cheap or free resources will use it however they can. That is why there are still people using CPU's and GPU's as well as low end ASICs that aren't worth it to most people.
Click to expand...

Thats fair. I will say that FLDC trading is fairly active, $421 dollars have been traded today and our average is about $100 a day which isnt to bad for a 5 month old coin. http://coinmarketcap.com/assets/views/all/
 
PookTwo said:
I believe I am on Grandpas side here, and this is why:

With BU they are mining other blockchain coins and trading them for BTC then to USD. This is using the mining power to accomplish this. All Altcoins start somewhere with no value, FLDC is new and does not have the liquidity yet of lets say Litecoin. BUT if one was to support FLDC instead, they could just sell the FLDC for BTC and donate to the different projects. This would do the same thing that BU does in a sense where the money mined is given to DC projects, but also you have the added benifit of doing useful project crunching instead of blockchain crunching.

And as for what the developers get out of this, we have been receiving FLDC since day one. The PookTwo username has generated over 8 million FLDC (with about 7 million in circulation) and 4 million of that has been given away so far. We the developers plan on keeping around 0.5 million each from the initial launch (plus whatever we currently fold now) but the benefit we receive is making the coin valuable. This isnt necessarily a get rich plan for me, hell i dont even expect FLDC to be an everyday use coin. Our main goal is to find more productive uses for these GPU farms that can no longer mine ALTs due to the Scrypt ASICs. Also no coin will ever beat BTC, but with counterparty tokens (like FLDC0 that are built into BTC, there is a lot more that can be done since its all shared on one network.

Thats not to say we dont want to find uses for the coin, we are actively working on that (game currency is the most attractive) but right now you can think of it this way:
Support those that do DC buy buying FLDC. I know that giving money to the projects is a good thing and great way to support them if one does not wish to actually maintain farms / PCs to do the work.

The $200 in electricity I spend a month is not necessarily me donating WU to FAH, rather its FAH outsourcing their WU to me. That in a sense makes us all our own individual charities (its a bit of a stretch, but i hope you get what i mean). So if someone buys FLDC of someone, that helps support them to continue to fold. I no I am new to the space, but I have to assume there has been big folders in the past that no longer do it because of financial reasons.
Click to expand...

Each dev. gets 500,000 coins each, how many devs are there? How many coins are out there total?
The coin needs people to buy the coin outright to help value and maintain value, so what is each coin worth now and if I were to invest in the coin outright is there a volume discount?
What was the value of the coin at launch? What is the value today?

And as far as knowing who is who folding I thin you can seperate people with their name and team number. There are no 2 people with the same name on a team.
I do not think there can be, is that right?
 
Bill1024 said:
Each dev. gets 500,000 coins each, how many devs are there? How many coins are out there total?
The coin needs people to buy the coin outright to help value and maintain value, so what is each coin worth now and if I were to invest in the coin outright is there a volume discount?
What was the value of the coin at launch? What is the value today?

And as far as knowing who is who folding I thin you can seperate people with their name and team number. There are no 2 people with the same name on a team.
I do not think there can be, is that right?
Click to expand...

We have 2 20-30 hours per week devs and 2 5-10 hours per week devs. I will be going full time 40 hours on Jan 5th along with some other crypto projects, but FLDC will get a min of 30 hours per week for me. This will also allow me to run FLDC better with the other devs. James is the Lead Dev and he is an incredibly smart guy who has helped in making FLDC what it is today. Me and him put alot of time into this.

There will be 1 billion coins when it is all said an done, and 500K are distributed everyday, but it will be coming up for vote to change that distribution table to have a half life. What that means is:

When 500 million have been distributed, only 250k distributed each day
When 750 million have been distributed, only 125k distributed each day
ans so forth

Currently at the time of writing the coin is worth $0.000174 and has an average trading of around $100 dollars a day http://coinmarketcap.com/assets/views/all/ (some days are higher and some are lower) and if you wish to buy some, the best way is to go to https://masterxchange.com/market.php?currency=xcpfldc

The value at launch you can see by going here http://coinmarketcap.com/assets/foldingcoin/ but remember with these cryptos, they are extremely volatile and the price can change fairly often for better or worse. If someone does a huge sellout, then the coins can crash in value.

The problem with verifying someone is who they say they are is how can i trust you (you being anyone, not you specifically)? One would simply be able to select a top tier folder from any team and say they are them without that persons knowledge. The only way we could accomplish this is with a passkey. But then here is the second problem: The crypto world loves transarency, it is hard coded in the thought process. If a new startup or coin does not have code on github, or is not being transparent about the miners, or pools, or in our case the folders, then the community begins to loss interest and trust. So lets say you give me you username and passkey. I look up the passkey and i can verify who you are. So far, no issues so long as you trust FoldingCoin. But if we do not post your passkey for the rest of the FLDC community to see, they could accuse us of just taking someones donor names and keeping the funds. Without releasing your passkey to the public to see, we have no way of trust from the community. Does that make sense?
 
LOL

I think I would take the word trust out of the conversation. There is no trust just verification. Which with todays socity I understand. After all as Bill Clinton said " I did not have sex with that woman " and we the people voted him in for a second term :eek:
 
Grandpa_01 said:
LOL

I think I would take the word trust out of the conversation. There is no trust just verification. Which with todays socity I understand. After all as Bill Clinton said " I did not have sex with that woman " and we the people voted him in for a second term :eek:
Click to expand...

LOL :D Trust and trustless are just the words the crypto world uses alot. Since crypto and blockchains are designed to not having to trust a person, but rather a ledger, that is the number one thing Bitcoiners and Miners look for in new crypto projects. But the word verification is probably a friendlier use :)

Our team is in no way dishonest, we have recorded everything we have done since the beginning and you can even look up every single distriution we have done and the amounts each donor has been paid. Even when we started, we obviously had a large part of the FLDC network, about %90 in the first 2 weeks, but over time we the devs are now down to %9 of the total FLDC network. And most of those funds are being used for bounties, and promotions, or paying people for contributing to the project (we pay in FLDC obviously).

But, we own the equipment just like FAH donors do so we get what we put in. We dont take any off the top like other coins do, we get an equal share according to the amount of FAH credits we completed just like everyone else in the FLDC team.

Here is our distribution page http://foldingcoin.net/index.php/project/distribution-history/
 
Gilthanis said:
As far as the argument with the other donor over accepting money for charity work, I don't have time to read those posts tonight, but I can tell you now that accepting money for donor work changes it from donor work to paid services. When you are talking about communities that take pride in helping find cures and donating their time, electricity, and hardware, you have to understand that telling them to make money doing it perverts the concept. You are stripping the humanitarian donor feeling and changing it to simply doing IT work. I can completely understand the emotion of someone in that position. Since you are coming from the other side, you need to understand the community you are trying to get on board. Most are skeptical of cryptos. Then you try to bribe them to support it by perverting their cause with it. See where that is going? You do not have an easy task ahead of you. I look at it a bit more realistically. Take that money and do more DC'ing. However, there aren't a lot of people willing to go that far because of the skepticism and the fact that a lot of DC'ers will do anything if there is a chance to make a buck off of it means that some will still support you.
Click to expand...

I had to chime in here a bit, Gilthanis, I think that you might be looking at this from a glass half empty instead of the glass half full....or the potential of FLDC.....in the last year we have seen many good things start to come out of Cryptos. Its true that what Pook Two and the dev team is trying to do is build an infrastructure around something that never thought about crypto currencies 10 years ago, so it is a tough and arduous road to evolve the process......but as time goes on and FLDC is disseminated and backed by more exchanges and BTC flows around it ...FLDC can do things similar to what DOGE has been doing, like donating to Bobsled team...Nascar Drivers...ect.....except for FLDC it could be for different charities or help well documented individuals that need money for healthcare....there are many projects where you could donate the currency you acquire in the form of FLDC, so in fact your are not " stripping the humanitarian donor feeling" but enhancing it by 1) donating resources for complex folding problems & 2) taking those funds you acquire in the form of FLDC and changing someone/group of peoples lives for the better!

Look some of you may have had bad experiences with PG and not want to participate with your hardware, and that's cool, but maybe hedge your bets with FLDC, buy from the crowd sale or refer other miners to join and get bounties.....look at this project in a positive light like you did with F@H when you first participated.... it just now getting off the ground, and I think that all the devs, and early adopters are doing this to make a change in society for the betterment of humanity....not just for themselves.

I also understand that people have developed large "rep" for bragging rights by using a certain name, but really what does that matter (its an ego thing), its just a number...stick with me for a sec.....after pondering the things I wrote above....why wouldn't you be willing to change your name at-least for a time & acquire some FLDC, and possibly effect more change...on paper, and possibly have direct influence physically helping somebody else s quality of life in the near future?
 
kerbos5, when I hear someone say you are looking at this "half full" or "half empty" I want to pull my last remaining hairs out. To argue (which it really is in this case) I would say the glass isn't close to half anything. From the DC view point the glass is very lopsided. Unproven crypto currencies that have had quite a bit of scandal in the last few years does not meet proven research donor communities of the last 10+ years. It is no where comparable as far as giving people the benefit of the doubt. Even excluding the 10+ years of proven faith. Supporting a not-for profit is way more trust worthy out the gates than supporting a potential money making scheme. So, again, the glass is not half anything.

I do see potential of an established crypto. I do not see the potential for another altcoin knockoff that even PookTwo admits is worthless without Bitcoin. I do hope for the best. But history has shown pretty much failure thus far and FLDC is not near the first in line to attempt this crusade. They have though addressed some of the major concerns to get people to join up that was holding many back from those that have come before. I see progress. I am just not drinking the Kul Aid.
 
Gilthanis said:
kerbos5, when I hear someone say you are looking at this "half full" or "half empty" I want to pull my last remaining hairs out. To argue (which it really is in this case) I would say the glass isn't close to half anything. From the DC view point the glass is very lopsided. Unproven crypto currencies that have had quite a bit of scandal in the last few years does not meet proven research donor communities of the last 10+ years. It is no where comparable as far as giving people the benefit of the doubt. Even excluding the 10+ years of proven faith. Supporting a not-for profit is way more trust worthy out the gates than supporting a potential money making scheme. So, again, the glass is not half anything.

I do see potential of an established crypto. I do not see the potential for another altcoin knockoff that even PookTwo admits is worthless without Bitcoin. I do hope for the best. But history has shown pretty much failure thus far and FLDC is not near the first in line to attempt this crusade. They have though addressed some of the major concerns to get people to join up that was holding many back from those that have come before. I see progress. I am just not drinking the Kul Aid.
Click to expand...

Fair enough....I wont argue with you, we will have to agree to disagree, but it does seem to me from some of your posts that you tend to gravitate towards negative aspects of "cryptos" more, instead of the positive that's has countered it....I wont go into detail, but even some of those "altcoin knockoff" have made a positive impact, in our communities....and sure digital currency/securities are young...it will have growing pains, but doesn't mean that we should not cultivate.
 
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I'm sure illegal drugs have made some kind of positive impacts in some communities but I wouldn't sign off on that market either... Just saying. I have yet to really see any real adoption of anything outside of Bitcoin. Yes I have read a small few that took some. But let's face it, even Bitcoin has a long road yet to go. The only people familiar with the altcoins are miners, some DC'ers, and a few others in IT. I work for a bank and can tell you that they are not even close to being on the radar. And yes Bitcoin is known but even the banks are still skeptical that even that will really make a dent. I know the banks don't dictate, but I think the popularity is more within the miners themselves than the population at hand. And just by calling something a knockoff doesn't mean the topic in general is being condemned. You can argue TV's or cell phones in the same manner. If I say that Hisense made a knockoff of a SONY TV, that doesn't mean I'm attacking TV's. That means I'm saying they made a knockoff of a SONY TV. It may still work, but it doesn't change what it is. Altcoins are mostly just knockoffs all riding off of Bitcoin. If Bitcoin failed today, I doubt there is a single altcoin that would truly flourish mainstream. The market would write them off as a failed fad and take decades to implement a new one. Just my opinion and yes you are free to disagree.
 
kerbos5 said:
I had to chime in here a bit, Gilthanis, I think that you might be looking at this from a glass half empty instead of the glass half full....or the potential of FLDC.....in the last year we have seen many good things start to come out of Cryptos. Its true that what Pook Two and the dev team is trying to do is build an infrastructure around something that never thought about crypto currencies 10 years ago, so it is a tough and arduous road to evolve the process......but as time goes on and FLDC is disseminated and backed by more exchanges and BTC flows around it ...FLDC can do things similar to what DOGE has been doing, like donating to Bobsled team...Nascar Drivers...ect.....except for FLDC it could be for different charities or help well documented individuals that need money for healthcare....there are many projects where you could donate the currency you acquire in the form of FLDC, so in fact your are not " stripping the humanitarian donor feeling" but enhancing it by 1) donating resources for complex folding problems & 2) taking those funds you acquire in the form of FLDC and changing someone/group of peoples lives for the better!

Look some of you may have had bad experiences with PG and not want to participate with your hardware, and that's cool, but maybe hedge your bets with FLDC, buy from the crowd sale or refer other miners to join and get bounties.....look at this project in a positive light like you did with F@H when you first participated.... it just now getting off the ground, and I think that all the devs, and early adopters are doing this to make a change in society for the betterment of humanity....not just for themselves.

I also understand that people have developed large "rep" for bragging rights by using a certain name, but really what does that matter (its an ego thing), its just a number...stick with me for a sec.....after pondering the things I wrote above....why wouldn't you be willing to change your name at-least for a time & acquire some FLDC, and possibly effect more change...on paper, and possibly have direct influence physically helping somebody else s quality of life in the near future?
Click to expand...

Great to see you on here kerbos5, i figured you would show up eventually :) I think you Have made some great points about crypto having a bad name. The media and the masses tend to focus on the negative side of things when they are new. The same thing happened to the internet in the early days.
 
Gilthanis said:
kerbos5, when I hear someone say you are looking at this "half full" or "half empty" I want to pull my last remaining hairs out. To argue (which it really is in this case) I would say the glass isn't close to half anything. From the DC view point the glass is very lopsided. Unproven crypto currencies that have had quite a bit of scandal in the last few years does not meet proven research donor communities of the last 10+ years. It is no where comparable as far as giving people the benefit of the doubt. Even excluding the 10+ years of proven faith. Supporting a not-for profit is way more trust worthy out the gates than supporting a potential money making scheme. So, again, the glass is not half anything.

I do see potential of an established crypto. I do not see the potential for another altcoin knockoff that even PookTwo admits is worthless without Bitcoin. I do hope for the best. But history has shown pretty much failure thus far and FLDC is not near the first in line to attempt this crusade. They have though addressed some of the major concerns to get people to join up that was holding many back from those that have come before. I see progress. I am just not drinking the Kul Aid.
Click to expand...

I will agree that many cryptos have been scam coins, this is the nature of opportunists trying to take advantage of new comers to a new technology. Experienced crypto enthusiasts can be pretty good about catching these, but some still are able to succeed in their bad intentions. So I do recognize this as a concern. I do want to confirm something though, not saying you said this but i want to clarify, so long as a coin is built upon counterparty or is forked off of the Bitcoin blockchain source code for all to see I consider Crypto as a proven method of a consensus algorithm. It has a so far flawless implementation of a trustless ledger for all to see and examine. The scams come from the development of the economy of the coin, not the technology of the coin.

And I do not want to speak to poorly of non profits, as i have worked for many, but i will say that corruption and mismanagement find their ways into charities all the time, and also government regulations can be difficult for non profits because they play by a different rule book than for profit businesses and that limits the use of donor funds. Thinking instinctively you would think this is a good thing.

For poor government regulation example: During 9/11 all funds that where raised by the Red Cross for that campaign must be used for 9/11 victims. This sounds logical when not thinking to in depth. But the problem is millions of dollars where raised instantly after 9/11 to the Red Cross. They had enough funds to take care of everyone 3 times over. So once all the help was completed, the Red Cross was still left with millions of dollars left over from the campaign. BY LAW, they cannot use these funds for anything other than 9/11 victims, but there is a problem, the victims have already received help, so the funds are just sitting somewhere not being used for good. So once the media got hold of this story, they blasted the Red Cross about keeping 9/11 funds, when that simply wasn't the whole truth.

The thought on non profits spending money: Since it is considered evil to pay people for doing good charity work, you get volunteers that aren't really productive. Sure they are giving free time and thats wonderful, but YOU GET WHAT YOU PAY FOR. I was talking with a fellow Red Cross employee that never did anything at work. But she was FURIOUS one day about the new Red Cross CEO Gal McGovern (new at the time) receiving around $600,000 a year salary. She tried to take the side of "This is a charity! Those funds could be used for something much better!" My response to her was basically "You dont think upper management is important? Sure we could get some low end CEO for 50k who has no experience on the table, but what good do you think they are gonna be? Gal comes with experience and experience comes with a price tag. You cant offer her 50k a year, she'll simply bring her skills elsewhere." But upper management seems to be the only level that gets this justification, chapters in general do not spend this kind of money. Also if Microsoft decides to run a multi million dollar campaign advertising their new product, nobody thinks anything of it other than to go buy the product. As for a non profit, if they spend millions on commercials its almost a crime in some peoples eyes because the funds could be used elsewhere to further the goal. But the people saying that are usually the people not giving to be fair.This is a bad approach to getting good work done. You gotta spend money to make money.

Now to talk about the mismanagement of non profits: Since most people are volunteers or paid volunteers, the productivity is just horrible. And many of these volunteers are paid volunteers which means they receive anywhere from 2-5 dollars an hour (not tax free, it still gets taxed). But since they are cheap, nobody really bugs them on their productivity. If they are slackers the mentality is, oh well. Also these people in general are not that invested in their charities, since they are basically there to help do good, but yet they can be empowered to make crucial decisions. I went down to the TN floods in 2010 to help with the relief. To put a very long story short, there was nothing for us to do down there, the baptists churches had already taken care of everything. But since volunteers where running the show, many volunteers from around the country, including myself, sat there for 2 weeks with per diem and room and board instead of sending us home. I cannot tell you the amount of money that was wasted on that operation. But the phrase of the trip was "Well at least TN knows we are here to help!" even though we werent. We even did a fundraiser on the side of the road just to stay busy. All funds where labeled to go "directly to TN relief" but in reality they went to paying for a failed Red Cross trip.

Flat out corruption: When you do something in the name of good, people support you. There is so much "looking the other way" going on in charities due to the fact that if you become a whistle blower or confront someone about a wrong doing in a charity, then the media will blast that charity and good work will not get done. That is just a load of shit.... but yet can be shockingly true. A good way around this is to have all funds on a ledger that everyone can view, not just management and accountants (yes i know 501c3s must have everything available to the public, but this does not always happen) so if only there was a technology that could time-stamp transactions with purchases for all to see.......
 
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Gilthanis said:
I'm sure illegal drugs have made some kind of positive impacts in some communities but I wouldn't sign off on that market either... Just saying. I have yet to really see any real adoption of anything outside of Bitcoin. Yes I have read a small few that took some. But let's face it, even Bitcoin has a long road yet to go. The only people familiar with the altcoins are miners, some DC'ers, and a few others in IT. I work for a bank and can tell you that they are not even close to being on the radar. And yes Bitcoin is known but even the banks are still skeptical that even that will really make a dent. I know the banks don't dictate, but I think the popularity is more within the miners themselves than the population at hand. And just by calling something a knockoff doesn't mean the topic in general is being condemned. You can argue TV's or cell phones in the same manner. If I say that Hisense made a knockoff of a SONY TV, that doesn't mean I'm attacking TV's. That means I'm saying they made a knockoff of a SONY TV. It may still work, but it doesn't change what it is. Altcoins are mostly just knockoffs all riding off of Bitcoin. If Bitcoin failed today, I doubt there is a single altcoin that would truly flourish mainstream. The market would write them off as a failed fad and take decades to implement a new one. Just my opinion and yes you are free to disagree.
Click to expand...

Not to get to into a topic about the war on drugs, but in my opinion the illegal part of illegal drugs is what causes the most harm. It causes drug sweet shops in south america along with kidnapping innocent people to smuggle drugs, to slavery of women and children in mexico to run the drugs, to imprisonment of non violent drug offenders in the US and the creation of "gang turf". The drug war is a failure that causes many of the problems in the Ghetto. But since prisons and jailhouses are sold on wall street (yes they are privatized) lobbyist and US corporations depend on locked up felons to increase their stock. Also if weed is legalized (because lets be honest, that's most drug users choice) then stock in the pharmaceutical companies will drop tremendously. Stuff like Zoloft could not compete with weed, and no suicidal side effects lol. Regulating drugs creates a market of crime: Reference the 18th amendment of the constitution for more information

As for the banks, I believe you are wrong, Bitcoin is very much on the radar for big banks. Bank upper managment is for sure talking about it, maybe not at a chapter level yet though. Here is a report from Bank of America released late last year https://ciphrex.com/archive/bofa-bitcoin.pdf

As for the knock off arguement I agree with you. But I would like to add some things to be aware of:

-Counterparty is not traditional altcoins, its inside bitcoin
-Counterparty just release smart contracts which have to ability to put anything on the ledger from your car title to your property deed
-You could have business transactions and deals recorded on the blockchain forever so there is no questions on if and when a deal took place. This also prevents forging documents
-CP finds a way for you to make a coin "minable" without the wasted energy of securing a blockchain that istn bitcoin and will ultimately die off.

But if BTC was to fail tomorrow, i disagree that crypto would die, the technology is here to stay.
 
I didn't say crypto would die. I said the altcoins would not have a flourshing replacement main stream for decades to come. Remember, crypto currency has been around long before Bitcoin. It has many forms. But not a one of them was mainstream and is argued that it still isn't. Don't confuse altcoins with Bitcoin as the altcoins are spinoffs of Bitcoin. And don't confuse Bitcoin with all cryptos as it wasn't the first nor will be the last.
 
Gilthanis said:
I didn't say crypto would die. I said the altcoins would not have a flourshing replacement main stream for decades to come. Remember, crypto currency has been around long before Bitcoin. It has many forms. But not a one of them was mainstream and is argued that it still isn't. Don't confuse altcoins with Bitcoin as the altcoins are spinoffs of Bitcoin. And don't confuse Bitcoin with all cryptos as it wasn't the first nor will be the last.
Click to expand...

Im sorry, i didnt mean to miss quote you. And yes i agree crypto has been around longer than Bitcoin but the reason behind it not going mainstream was due to the constraints of being backed by centralized organizations and not a decentralized network like bitcoin
 
I think the biggest reason it is not going mainstream is you can't hold it in your hand, take it with you and use it anywhere you go.
Even though most of use reading this have been on the net for years and years, there are still many people who want nothing to do with the internet. I know quite a few people who do not have a computer or a smart phone believe it or not.
 
There are many reasons bit currencies will have a hard time, #1 reason being any government can make it illegal to trade in at any time they wish. What good is it if you can not buy anything with it or trade it for a backed currency. There are too many people such as myself that have no faith in it and look at as nothing more than a hand full of people trying to figure out a way to circumvent taxes and working for a living.

In reality only a very small % of the population of the world are involved in the bit currency industry, and the actual cash value of bit currency = 0 if there is no where to trade it for goods and services. People can dream all they want about getting rich running a computer crunching hash marks all they want but until they get some kind of backing from government's and banking institutions it is just that, a dream.

Don't get me wrong it may happen some day that they do get some sort of credible backing and there will undoubtedly be a few who do make some real money doing it. But for now the vast majority will never see any real profit.

Anyway I do see a value to foldingcoin as a way to add a little fun to F@H and to encourage a new user base for DC projects. And who knows some day these foldingcoins may be worth something at least they are being used for doing something good for humanity rather than trying to tear it down.

This in my belief has the greatest chance to increase the donor base for DC projects of any of the bit currency endeavours I have seen to date. (that is if they can figure out a way for people to be a member of any team they wish) and letting us old farts keep their name. :D

It does have the possibility of adding some credibility and popularity to the bit currency industry. Which would be good for the developers of FoldingCoin ;)
 
Bill1024 said:
I think the biggest reason it is not going mainstream is you can't hold it in your hand, take it with you and use it anywhere you go.
Even though most of use reading this have been on the net for years and years, there are still many people who want nothing to do with the internet. I know quite a few people who do not have a computer or a smart phone believe it or not.
Click to expand...

I will have to disagree with you on these points. I believe a few people want nothing to do with the internet, but not many (and few is a few). The world has been changing and anything and everything is incorporated on the internet now. A credit card you hold in your hand yes, but the money is virtual. Going back to a previous comment about crypto being around longer than BTC, its true, most US dollars are purely digital. And to be honest I dont know one person who doesnt have a cell phone and I know only about 2 people who dont have smartphones.
 
Well, as much as I love arguing. Could we get back to the original topic and debate crypto in general over in the crypto forums? I know I'm guilty of getting side tracked too, but this really isn't helping. Those whom are interested should continue to ask questions about FoldingCoin. Those not interested, should please keep it at least on topic of FoldingCoin specifically.
 
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