Topic: [ANN] FowCoin (Read 812 times)

> So accountable collaborators need anonymous collaborators to form Mint Consortium
Not necessarily need, as the accountable collaborators can form a Mint Consortium with not anonymous collaborators as well, but yes usually the Mint Consortiums will be formed with anonymous collaborators.

>  and accountable collaborators are responsible for anonymous users

That is correct, the accountable collaborators are responsible for the blocks of anonymous users. That means the accountable collaborator only signs the block with its PKI private key if there is no malicious intend e.g. double spending is detected. In this context the block is created and coins minted by the anonymous collaborator.

> Can it work? What legal entity puts trust in anonymous users, when they can face legal actions if any of these users do something shady?

It can work. Again, the accountable collaborator won't provide assistance in creating malicious blocks. The accountable collaborator won't put forward suspicious blocks to the blockchain. Acting maliciously or irresponsibly will be against its financial interest as the deposits of the accountable collaborator will be confiscated when a careless attitude is detected, just to mention one consequence. Also there are legal consequences of a careless or criminal activity of accountable collaborators. Fraudsters are arrested by policy in the current legal framework, therefore the directors of accountable collaborators will be making sure that the system is robust and honest. Surely they want to avoid criminal investigation against the business. Economic principles and the cooperative game theory based binding contracts of the system are making lot less unlikely that an accountable collaborator would cheat than for example a bitcoin miner pool would put forward double spending or do something malicious. The bitcoin blockchain works in terms of miners do mine. In this blockchain there will be more incentives to act honestly than what the Bitcoin blockchain incentives are. In this system the cooperative game theory based binding contracts (so the maths) and economic interest create the incentive to act honestly. That means it is very likely that the system will work.

> Will there be limit to FOWcoin?

I would suggest it will have limit. What the limit is will be decided by the blockchain community.  We have registered a non-profit foundation the Streembit Foundation (Delaware State File Number: 6917801. This foundation will govern the settings of the blockchain such as the limits of FOWCoin.

So accountable collaborators need anonymous collaborators to form Mint Consortium and accountable collaborators are responsible for anonymous users.

Can it work? What legal entity puts trust in anonymous users, when they can face legal actions if any of these users do something shady?

another question: Will there be limit to FOWcoin? If not, what about inflation? Can't find info about it in the White Paper.

@Trollington Thanks for your post & questions, and my apologies for the lack of prompt reply.

tl;dr: tl;dr: We strongly believe this blockchain could be applicable to more traditional businesses.

In more details,

> how are you planning to expand FOWcoin

By processing payment to sell digital goods for example the Subverse game and physical goods e.g. Subverse T-shirt using the stable coins (SSC) of this blockchain.

> but where is the break even point for the actual Minter?

I believe, for the users who mint coins the main revenue source will be the processing fee of the stable coin (SSC). The earning of such revenue could be achieved via a minting consortium or by minting as a compliant, accountable business entity or accountable user. The white paper aims to explain both scenarios.

> Are you aiming for niche businesses first?

In step one, the aim is to address the adult industry payment processing requirements.

> Have you already reached out to some SMEs?

There are lots of conversation with SMEs and larger business as well.

> Have you considered the possibilities of smart contracts for businesses that deal in physical goods yet?

Yes, we have considered it. We will create more and more smart contract templates for physical goods. There are interesting use cases emerge. Not only physical goods smart contracts, but digital goods and utilities. For example, solar energy creation smart contracts and payment processing scenarios.

> Let's take a wholesaler as an example. Some company which sells literal bricks or something.

We will come back on this with a more detailed reply.

For questions related to mining - please see the Whitepaper description and our explanation of the Minting Consortium.  The process for joining as collaborators will be released soon and in the meantime feel free to ask any other questions here based on what you find in the Whitepaper.

Thanks @TimeTeller appreciate your thoughts and feedback.  Firstly, yes the Whitepaper is all our own work and we would encourage you to read it fully as it explains the setup.  The company and associated websites are also explained in the OP.

Start your project with at least your own website.
People want to look first what is your site's content.
A lot are not going to your socmed channel as it will just be additional clutter that will end up not being active to.
You are not holding any type of crowdsourcing campaign here, so fair enough that people will not expect more of this project.
You have a very long written whitepaper, but didn't check if you it is your original work or not.

Heya! First post here.

I have read the White Paper, but I am definitely not a tech savvy person.
My background is basically energy and goods wholesales, so my questions might be a little naive, but please bear with me.
I am also no native English speaker, so please pardon my french.

The White Paper does point out some very promising solutions to major issues, especially the minting process does look pretty neat.
But even though it looks like a very economical and reasonable way to create Blocks, how are you planning to expand FOWcoin?

Are you aiming for niche businesses first?
After all, it is no secret that companies that provide adult audience oriented content can be under enormous pressure from payment processing service providers.
Have you already reached out to some SMEs? What is the feedback about the collateral payments?
It seems like an extremely good system for the coin, but might seem off putting for the companies, since it can bind their assets.

I am very interested in obtaining some FOWcoin as a user, but where is the break even point for the actual Minter?
I do know that it depends on how much steam the coin picks up, but some speculation will be appreciated! 

Companies in my country are not... very tech savvy.
Most SMEs and even bigger companies mostly use paper. Especially in wholesale and retail.
Have you considered the possibilities of smart contracts for businesses that deal in physical goods yet?

One example would be companies that have consignment stock in their warehouses.
Quick explanation for those who hear this for the first time:

Let's take a wholesaler as an example. Some company which sells literal bricks or something.
The supplier drops a bunch of bricks in the wholesalers yard, because they had some space to spare.
The wholesaler does not own the bricks, but can still sell them. If they sell some bricks from the pile, they are contractually obliged to immediately buy the amount sold from the supplier, after the actual sale happens.
In return for having the stock available all the time, the wholesaler charges no or very low fees for the yard space and warehouse handling, which is at this point basically am external warehouse for the supplier.

Smart contracts could help a lot in these use cases and make life way easier for both parties.
The reduction in administrative hassle for everyone involved could be enormous.
Even more so if we look into future automation.
(Imagine a lorry driver immediately getting sent to the neared supplier, once stock is running low. Maybe even a lorry without a driver if we look far enough into the future.)

tl;dr: How do you plan to get started, and do you think that you can appeal to more traditional businesses?

Hello

I am getting questions and notes from bitcoin veterans and experts. I respect very much who started the blockchain movement. I know some of them have been here for a very long time. Some of them are here since 2010.

The questions & notes are mostly about the math.

So as you know I am not a mathematician. I am just an elderly software developer. However I believe math can explain as well as the rules of mathematics perhaps could govern everything or at least most things. I mean everything including the universe and consequently blockchain. I am sure you are familiar with the documentary series "Connected" on Netflix. There is a part called "Digits". It is about Benford's law. You know what Benford's law is. That is a fascinating stuff, but on the other hand simple and straightforward mathematics.

Similarly to Benford's law, that's how I see the rules of mathematics in the context of blockchain. FOWcoin blockchain is based on an economy process that is described by cooperative game theory mathematic principles. Please see the white paper. with regards to that. I could be very wrong about some elements of the presented mathematic formulas, but I am convinced the binding contracts of cooperative game theory is the solution to the inefficiency of existing blockchain. I explained this in the white paper.

I will try to elaborate the details better and my apologies for any confusion.

Best regards,
Tibor
Lead developer of FOWcoin blockchain and CTO & Director of the Subverse game publishing business.

I would also like to know where, and when we would be able to buy?

Still waiting this hot project !

Also wondering when it'll be available.

How/where will we be able to buy it? Is it live somewhere now?

Not a lot to go on here...

Full?

Which algo did you choose ?
Do we have to wait your whitepaper to get this info ?

---

---

---

---

---

---