Topic: A foundation with 80% of the coins can never work. - page 3. (Read 4810 times)

Seems to me a lot of disinformation about the FFoundation is being flung around. If you actually go to forums and see what is being proposed you might be slightly more persuaded by the reasoning for a FFoundation that can equitably and democratically dispense the trust. Simply stating the obvious limitations or dangers is something that has already been done in the forum on this topic. The core concept is ensure that the currency is able to create movement so it is used not sat on by those who wish to accumulate wealth and stagnate the currency. If you are actually interested in having a truly free currency then a system where we all have a voice in how that trust is distributed is best. Have a look at the thread and offer some input. Simply stating it won't work or people will pocket the coins etc is known already... how about working out how we need to distribute the coins in fashion that is ultimately in the interest of the WHOLE community rather than one segment? http://www.freicoin.org/freicoin-foundation-development-thread-t81.html#p767
 
What I see from these posts against a foundation is more of knee-jerk reaction rather than any concerted effort to understand the underpinnings of having the currency actually circulate and be used as a currency should. I hope people have actually made some effort to understand the why Freicoin is setup the way it is rather than simply dismissing it out of hand. I for one consider the ideas offered compelling and the experiment should move forward as planed considering the historical significance of previous efforts of this nature. If done well the FFoundation would be a model for democratic reform especially in terms of currency and economics and possibly politically as well. The ideal would be that we can circumvent the obvious pitfalls of Bitcoin and pushing cryptocurrencies forward rather than stagnate. You can actually make history rather than suppress it with such conservative and frankly narrow opinions. If you get involved you can be part of a real change in how we use money. I think it is well worth the experiment. If you don't like the premise don't mine it or trade it seems simple enough but I think giving it a shot is a much more progressive approach don't you?

OMG, maaku, if miners work to mine(CREATE) them, they are theirs.

Offtopic: PPcoins grow out of nowhere

Anyone who has been involved in our forum discussions knows that we felt the distribution system of BTC was just as flawed as the indestructibility of BTC.  We has said our inspiration was the Worgl and other similar currencies like the Chiemgauer that operates today, these and other community currencies are issued far more equitably then present mining rigs could hope to achieve.  If this came as a shock to you then it's because you haven't been reading our development forums.

Mucus you clearly don't want fund to be seized by insiders aka 'crony capitalists' and have said so several times, that's our goal too, thus you want us to succeed at our goal (thx for the support  ).  The only problem is you don't believe that is our real goal as you have in your mind convicted us already.  Given that how dose making constructive suggestions for bylaws make the situation worse?

+1.
Freicoin and its demurrage feature? Interesting and new.
Foundation controlling the coins, where a bad decision by the devs can wreck the economy? Solidcoin.
Human greed is a dangerous issue.

No, I want freicoin to succeed, the foundation wasn't part of it when it was announced. And I really don't like the foundation.
I am not a minority here, at least on the latter.

Ok yes Nolo your not flaming, more just criticizing, other people are flaming or borderline trolling us.  Still please do try to turn the criticism to a constructive end by articulating what kind of rules you want to govern distribution of FRC cause the die is already cast on those coins being segregated so anyone who wants FRC to succeed De-facto wants the foundation to succeed.

Medieval landlords didn't even take taxes either, the peasants weren't entitled to what they got too.


Make TradeFortresses fork the official client.


There is nothing to debate here actually. If it aint be done freicoin in it's current form will be dead in 3 months.
I'll be back to tell you "I told you so."

Don't get me wrong, I'm not flaming you.   I hope Freicoin succeeds.  

Taxes are percentages of someones income, a business profits, or a percentage of a sale.  Foundation funds come from non of these sources and are not a Tax, what FRC has is a 20% royalty payed to miners initially vs 100% royalty as other coins have had.  As much as you may not like a lower royalty, that dose not make it a tax as tax is not simply a 4 letter word for 'money I am not getting'.

We are still looking for constructive input on the creation of bylaws for the foundation which will specify exactly how and how NOT to distribute funds.  We are willing put put the foundation under binding legal obligations because we have good intent and high minded ideals and are intent on showing it in both word and deed.  Come to our forums and contribute to that effort rather then just flaming us here.  If your right that were doomed to be corrupted at least you can say you did everything in your power to prevent it, on the other hand if we live up to high standards that will be a great step forward for distribution of crypto-currency and we will have set a high bar by which to measure others in the future.

I love the idea of Freicoin, and I don't hate the whole idea of a tax, as long as it is taxation with representation.  

Who do they "belong" to?

Look I can create 1 billion smoothie coins look...

1,000,000,000 smoothie coins

They don't necessary belong to me if I want others to use them.

Those coins were never the miner's to begin with. Why do you feel entitled to them?

But only if you do it on Fridays.

And you have to eat at least one hot dog afterwards and acknowledge myself as a discordian pope.

Perhaps MAAKU should make a FRC faucet that distributes 10,000 FRC at a time. That would give better distribution than the model he is using. lol

"I do like the Freicoin." - ElectricMucus

I'll print that out and carry it in my pocket. It will give me strength.

It would be best to distribute those 7mil coins they got between the miners and destroy the 80%
Then people will come back to this coin.

I do please send me 100,000 FRC to 16LRPJraqhGHuiyScwDhogbn7yRMcqVi1j

signed the above line:
H9FmgZ04gW2bs37srVO1ueKIyGqEgIKVfxCYdTwNpprxtJeU7mrLEQ+uv2UC1ZJDsflpiBU2p2q/VHhlKR5gITg=

"Sorry you don't like the Freicoin."

It is my opinion that those coins being circulated isn't justifiable in the first place.
And no, if you observe crony capitalism the wealth tends to be constricted to the core group for extended periods.

Even worse in contrast to other approaches you actually endorse the building of cronyism since any individual willing joining the foundation would be interested in a system where wealth is distributed in this fashion.