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[list][center][b][size=15pt]888 moving to Counterparty - OCTO[/size][/b][/center]
[center]The Octocoin started on February 24th, 2015 and last until March 8th at midnight. Burn your 888 in exchange for the OCTO Counterparty Asset by sending your 888 to the following 888 address:[/center]
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[center][b][size=15pt]8burnYouroctoHere4oCToPartyXRcdDgX[/size][/b][/center]
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We will create 88.8 Million OCTO total but will only distribute the burned 888/OCTO at first. The burn ratio will be 1:1. The burn process will last for 2 weels only and a snapshot of the blockchain will be taken. When the midnight deadline on March 8th has been hit (Mountain Time) then you can no longer burn your 888 and the only way to acquire OCTO will be to purchase, trade or participate in FoldingCoin’s merged mining and other promotions. We will announce future distribution plans at a later date on the new OCTO bitcointalk.org and letstalkbitcoin.com forums. If you have any questions about the burn, please PM frameLAlife or FoldingCoin on bitcointalk.org.
Be aware that OCTO will be a community asset and is not associated with Octocoin 888 or it’s original developers. We as a community are choosing to leave the original, abandoned blockchain behind to participate in the Counterparty protocol on the Bitcoin blockchain. While we do have leadership in place that is planning the first project for the new asset, you the community will be free to use any available open-source code to build and promote your own projects in the community. However, please understand that certain projects, applications and activities will not be allowed to be promoted on official OCTO forums for legal reasons.
Please refer to the following instructions and follow this process to burn your 888 to the new OCTO Counterparty Asset.
[list][li]Step 1 - 888 Holders please create a Counterwallet with these steps http://foldingcoin.net/counterparty-guides/#wallet[br][br][/li]
[li]Step 2 - Send all your current 888 to a single 888 wallet that you control. If you are going to continue mining, please make sure to mine directly to that address (or if you are using a mining pool, please start to withdrawal to that address)[br][br][/li]
[li]Step 3 - Fill out this google form https://docs.google.com/forms/d/16a6AvxrfOQ_gzMrM3tH2iRlBvPX-OSge4QG_2rLDkYQ/viewform?usp=send_form with the following information:[br]
[list]
[li]BTC address from your Counterwallet found in Step 1[br][br][/li]
[li]Your 888 address with all your 888 from Step 2[br][br][/li]
[li]The estimated total amount of 888 in your wallet from Step 2 that you will be burning in exchange for the new OCTO asset on Counterwallet (the estimated amount is for trying to get an understanding of how much 888 is going to be burned)[br][br][/li]
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[li]Step 4 - After confirming that your identity and correct wallet information is in this list https://docs.google.com/spreadsheets/d/13nfukjfGvfwwI6Y2dUY13eVZLF6NmslkvXtx7GczO-g/pubhtml after filling out the form, send your 888 to the burn address:
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[center][b][size=15pt]8burnYouroctoHere4oCToPartyXRcdDgX[/size][/b][/center]
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[list]
[li]If you do not see your address here or if the information is wrong (such as your 888 address is not the one you wish to associate with your Counterwallet address) please contact [email protected] AND [email protected] to resolve this issue and get your accurate address information added before burning your 888.[br][br][/li][/list][/li]
[li]Step 5 - The deadline is set to March 8th at midnight (mountain time) so make sure you burn before that time[br][br][/li]
[li]Step 6 - Once Midnight on the deadline is hit, the 888 block explorer will be captured fully with the accurate information regarding the 888 wallet locations at the exact deadline time (this will then be available to the public to view). You must have sent your 888 to the burn address BEFORE the deadline has been hit. So any amount of 888 created after the burn will not be considered a valid exchange since it will be officially moved over.[br][br][/li]
[li]Step 7 - After the block explorer has been fully captured, then 2 days will pass to allow time for any discrepancies to be established from the Octo community with the amount of OCTO they will receive. [br][br][/li]
[li]Step 8 - After the 2 days have passed, then FoldingCoin will create a distribution address and send all the OCTO out to all participants who are partaking in the burn. this community needs to keep in mind, that for every 1 address receiving OCTO it will require 0.00006 BTC (this is not a service fee, but it is the cost of a Counterparty transaction). So If 1,000 people are participating in the burn, then 0.06 BTC will need to be provided to distribute the new OCTO funds.[br][br][/li]
[li]Step 9 - OCTO will become part of the Merged Folding family and you will continue to be able to earn additional OCTO by setting up your computer to partake in folding following this step http://foldingcoin.net/windows-guides/#setup[br]
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[li]The distribution on Merged Folding will need to have the OCTO community decide the following factors:[br][br][/li]
[li]Total amount of OCTO to be distributed on Merged Folding[br][br][/li]
[li]Amount per day to be distributed on Merged Folding[br][br][/li]
[li]If there will be a half life[br][br][/li]
[li]How often to do the distribution (daily, weekly, monthly)[br][br][/li][/list][/li]
[li]Step 10 - Robert Ross will provide complete training to frameLAlife on how counterparty works, securing undistributed OCTO, Merged Folding, and anything else needed[br][br][/li]
[li]Step 11 - Begin to rebuild the features and direction of OCTO[br][br][/li]
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[center][size=15pt][b]New ANN forum for OCTO on Counterparty can be found here https://bitcointalk.org/index.php?topic=960933[/b][/size][/center]