Topic: [ANN] FractalCoin community takeover and new website FractalCoin.us - page 2. (Read 4346 times)

I never knew that was on ICO for over a year... on which website it was as ICO? maybe at the end the website bugged the ICO end time and maybe somebody should let the website notice the error or try to open the change on another exchange website

BanxShares was #8 at coinmarketcap.  It's not normal to go directly from #8 to 0.

They still have the same market, which is their own exchange.  They say it was delisted because coinmarketcap decided not to list coins still in ICO.  BANX has been in ICO for over 12 months, selling shares but not allowing investors to sell.

If you want to know the status of BanxShares when i did the check it was alive directly from the download link, the fact being delisted is normal because coinmarketcap removes them if doesn't have a market.

Anyway the fact that went against you because of a single research is bad, i will see the the thread for curiosity.

About the other PoB think i only added on the coins on my quede list of checks and because is long it will take some time

I recently started a thread asking questions about BanxShares.  That thread led to a cointelegraph article, and that led to BanxShares being delisted from coinmarketcap.

The people from BanxShares hinted that they would find me and get revenge, and they said "karma is a bitch".

When we launched the ANN for BARR, people started creating new sockpuppet accounts and spamming the thread.

Then 3 other "proof of burn" coins were announced, after BARR.  I don't believe any of them are real coins, including intristin's coin.  He doesn't have a coin, he doesn't have a name for the coin, and he doesn't have details about how it will work.  But he claims that he's been working on it for 6 months.  But even though he said he's not hiding behind a fake account, he's only been a member here for 1 month. 

So there is no "trend" of proof-of-burn coins.  There is only BARR, and some people who are trying to confuse everyone.

You might want to avoid libel, which is a crime itself.  Of course, since you're posting with an anonymous account that was just created a month ago, you're probably not too worried about breaking the law.  In your other thread you said it doesn't matter if you lie to everyone, and here you go again.

If burning coins is a crime, why have you announced that your new coin will burn coins in an attempt to copy BARR?

BARR is a community takeover of these coins and offers a full swap for all holders.  It's not a crime to send coins to a burn transaction, and it's not a crime for us to give away BARR for free to everyone who burns their altcoins.  "Insider trading" would require us to be "insiders" in the coins we're buying.  Altcoin exchanges are publicly available for everyone to see at all time, and so are all of BARR's transactions.

Anything else?  The last time we talked, you said there was a spike in buy orders on the blockchain.  I tried to explain to you that Fractalcoin doesn't have any buy orders on the blockchain, but I don't think the truth matters to you. 

There is plenty of proof.  We have every burn transaction available for anyone to see, and the burn addresses are unspendable because they return a hash with a string of zeroes. 

For example, the Sapience block explorer already has the address labeled as a burn address.

If you say so, for what i know some users that are making PoB coins are increasing and who knows which one are doing with for real things or just for speculation, anyway i know that BARR_Official checks bit1 dead coin list for sure but i don't know for the others

there are some proof that all those coins got burned at the end or those ended in someone wallet ready to dump them? sorry but if those got really burned like you said you should have a proof

In our first 24 hours, we have already burned 308,059 Fractalcoins.

That is over 30% of the entire supply.

We encourage all remaining holders to do the same.

I really liked this coin, it was a shame what happened.

Well you sold for a lot more than most other people.

You do not understand, I did not sell my coins for profit, I loose a lot with FRAC, get tired of supporting it, when Earlz abandoned it, dump was inevitable.

Dev team is like a core, the main stakeholder, with they get down, all structure falls behind.

The exchange period officially begins tonight at midnight and ends November 30.

Message us here to this account before you burn your coins, tell us which coin you're burning, the amount you're burning, and your NXT wallet address (not a deposit address on an exchange).

Then send them, and message us again with the transaction ID. 

The burn address for Fractalcoin is FVAiSujNZVgYSc27t6zUTWoKfAGxc8CEW5

We are redeeming FRAC at the set rate of .5 BARR, or 1 BARR for 2 FRAC.



Full details in our ANN:  https://bitcointalksearch.org/topic/ann-barr-the-only-cryptocurrency-where-no-ones-ever-lost-money-1219460

You said Fractalcoin was dead 14 months ago, and the coin is only 16 months old. 

You may have supported it at the beginning, but not since the beginning.  Publicly declaring that you've dumped all your coins after 2 months isn't much support.  Or coming back to the topic repeatedly just to say it's dead.  Or when anyone posts, telling them they're "the last Fractalcoin supporter". 

After you sold your coins for a profit, you actively discouraged other people from buying.  You contributed to the decline of the coin, so that the people you sold your coins to couldn't sell them like you did. 

That's the opposite of support, and I don't see much difference between you and the devs.     

And nobody will buy this coin, I´m pretty sure of that.

Sorry, but after Earlz, Skunkmonkey and Doge left the coin die even with the community support (including me, who supported it since the begining), there is an invincible assymetry here, specially the moral hazard issue.

Actually Cryptsy wrote me back this week and said they're working on NXT platform integration.  So if FRAC moves to NXT, Cryptsy does seem open to swapping their coins.  They may also keep the original FRAC, splitting Fractalcoin into 3 parts like you say, but hopefully we'll end up with just 2.  Or if we burn everyone's coins, then just 1.  

Of course I'm burning all of mine for BARR, but if the price crashes after the burn period ends, and the coin continues to survive, then I may get re-involved.  Maybe later, since I'm already scraping up every penny to support BARR.

But yes, you're correct that FRAC has 0 block rewards.  IMO that was the original reason the coin crashed, over a year ago - the block reward dropped straight from 40 FRAC to 1 FRAC per block, and miners all immediately stopped mining.  Then the difficulty was stuck for about a month with nobody mining, and the blockchain wasn't moving.  I mined, rented hash, and gave some bounties of .01btc in the Poloniex trollbox for people to mine FRAC, and the difficulty dropped something crazy.  But the damage had already been done, as huge changes in an altcoin market often degrade into feedback loops.  Lower price, less hash, fewer users, more dumping, lower price, less hash, fewer users.

The block reward dropped to 0 a few months ago, and it did not help the price.  Even without the new sell pressure every day, there's still nobody buying.

Okay I get "it" better now.
My original impression was FRAC had a small sustain reward but it looks like it has zilch rewards, no?

So this "fee only" concept might have worked if FRAC managed 1000s of TX per day.  But FRAC is not popular today (tomorrow maybe but today it is unnoticed).  And I don't see anyone providing the hash until prices go way up.

So BARR is a good test and might get miners attention to grab some fees.  And I think keeping the option of fully transport on to NXT platform (like NAUT) ought to be on the table say March 1 2016.  

FRAC is a good brand and could become a good DAC/Asset/Community.  So I welcome the BARR experiment.    

And in a funny way this fractures FRAC (1M coins) into:

a. BARRs
b. FRACs traded on cryptsy (if it is still here in 2016)
c. FRACNXTs traded on the NXT system* b.&c. could be combined if BigVern isn't shut down by the Feds.

The burn exchange for Fractalcoin begins November 1 and ends November 30.

Here's the topic:  https://bitcointalksearch.org/topic/ann-barr-the-only-cryptocurrency-where-no-ones-ever-lost-money-1219460

We're not quite ready for launch yet, but our website is up with some basic information at barr.me

At first we wanted to make a new Fractalcoin on a new blockchain.  So all users could be issued the new coins by burning their coins from the old blockchain.  That way it's a full transfer to the new coin;  if we make a new blockchain with a snapshot, and everybody gets their new coins but still has their old coins, Cryptsy could decide to keep the old blockchain listed and then people would have the same coins on both chains.  That's what happened with Protoshares.  So burning the coins is the only way to make sure they're really being transferred to a new blockchain rather than just duplicated.

But then, even if we did it successfully, made a new coin and every single user burned his coins and brought them to the new blockchain, then we'd still have a Fractalcoin that is struggling to survive.  What is its real purpose?  Does it offer anything different from 100 other altcoins?  There are too many coins.  

Just like a coin with a high supply has a low value, the entire altcoin market has a low value because the overall supply of altcoins is too high.  Moving every altcoin to its own new blockchain would only perpetuate the problem without fixing anything in the long-term.  

So we figured if we could make a new coin and transfer our Fractalcoins to it...why not transfer Keycoin and Sapience too?  Why not offer more transfers to more coins on a continual basis?

The new coins will be earned by burning the old altcoins.  Coins that have been destroyed can never again be pumped and dumped.  For the people stuck holding a bag, with no way to sell their volume of coins at any price, they can finally get rid of those coins by burning them and earning this new coin instead.

Instead of Proof-of-Burn, it's Multi-Proof-of-Burn.  The price acts as the difficulty - at launch, let's say you can earn 5,000 of the new coin for 10,000 FRAC.  The exchange rate is fixed for the 30-day burn period.  But as the coin gains more users, the difficulty - the price - will hopefully rise.  So when we offer another burn period for another altcoin in the future, then 10,000 altcoins might only bring you 500 of the new coin.  Or 50.  Or 5.  In this way we hope to have a curve of emission over time similar to Bitcoin, which could allow us to continue buying altcoins indefinitely as we approach the maximum supply without ever reaching it.