Thanks for replying.
Don't you think there's still a lot of promise in one of the few coins limited to a supply of 1 million?
What do you think is the major flaw - that nobody will mine after block rewards end?
Just because the supply is low, doesn't mean it's worth anything. The major flaw is the core design of the coin: subsidizing mining with percentage based fees. It lead to people just keeping their coins on the exchange, complicated the implementation of any services using the coin, and because people avoided sending coins the average block reward is very little, leading to difficulty dropping dangerously low (ie, you could 51% attack it with $10 worth of rented hashpower at the time I basically gave up).
I was getting .01FRAC in tx fee about every 10 blocks,
when the coin was almost dead and hadn't been mined by more than one person for over a month. And the blocks are fast, so that's already comparable to mining rewards for Unobtanium.
And that's when hardly anybody was using the coin.Watch the blocks. Maybe 10 go by with no tx fee, or maybe it's several in a row:
http://fractalcoin.miningpoolhub.com/index.php?page=statistics&action=blocksDo you realize your coin has been running flawlessly on autopilot for several months? A lot of coins need constant supervision and still break anyway. Your design was so good that it has continued functioning without you.
Do you realize that your coin is still traded everyday on Cryptsy and Poloniex, which is something most coins never achieve, and half the ones that did achieve it already got delisted?
Fractalcoin is already more successful than 90% of all altcoins that have ever been made, and it's not even a year old yet.
Me, I'm excited to see what will happen when block rewards end and mining rewards are less than Unobtanium. (Unobtanium is worth over $2.00 per coin right now, and rising)
People stopped mining, not because of transaction fees or Slingshield - they stopped mining because they had been getting 40 per block and suddenly only got 1 per block.
People kept their coins on exchanges, not because of transaction fees, but because they thought the coin would skyrocket in value when it was 40 times harder to mine. And it will, it just needs at least 1/4 the time it took Bitcoin to skyrocket.
Besides, everybody sends transaction fees with Bitcoin anyway. The wallet has a popup that asks you "Hey don't you want to send a transaction fee?" Fractalcoin limits the fee to 2FRAC, and other than that it's half a percent. People don't mind paying half a percent, they pay a lot more than that with credit cards, and they pay more than that to buy Bitcoin on Coinbase. So what if Bitcoin has smaller transaction fees, if you have to pay 1% to get some bitcoins?
What's the difference between Fractal's mandatory transaction fees, and Ripple destroying a percentage of coins with every transaction? And everybody's jerking off over how great Ripple is, so let them try some Fractal too.
Of course, maybe it could be fixed so it is actually the .5% it's supposed to be, instead of the 50% I get charged when I send 1FRAC from my wallet, or 2% when I send 100FRAC, or 300,000% when I send .00001FRAC
Sometimes the transaction fee is .49250995FRAC for any amount of 98 or lower, and it changes to 2FRAC if you send 99 or more. Or then you go back and it's a 2FRAC fee to send 2FRAC. So the problem isn't with the .5% fee, but maybe there's a little problem with the implementation. Or maybe the wallet is crazy and makes up a different fee every time.