Topic: [ANN][FAI]ΦFree Anonymous Internet --Decentralized Blog, Messenger,Market,Dapps - page 7. (Read 26107 times)

Explanation to Faicoin Issuance and Circulation
FAI is a content system .
Currency system is just one part of the FAI infrastructure.As we've mentioned in website homepage, we value FAI accounts, FAI database, FAI network more than FAI currency.
Look at Facebook, twitter or g+, they don't have a currency system ,but they have accounts ,network, contents.
So how do you evaluate the "premine" of Facebook? Do you hate Facebook because you can't mine on it at all?

Then,what's the necessity of Faicoin?
1 Prevent spamming. Spamming is a big headache for p2p system. The weakness of spaming is that it's extremely cost sensitive. With a network fee, FAI will be free from spamming.--- On the contrary, our current headache is lack of contents.
2 Fund the maintenance.  Another headache of p2p system is funding. Tor is funded by US government. While Freenet is dying because of bad funding. With the network fee, FAI network can have a long healthy run.
3 Facilitate commerce. Money and order info can be send in one transaction if giving the FAI currency system. This makes e-commerce extremely simple. Also ,tipping is very important to inspire posting high quality contents.
Again, the FAI system is not designed to issuing coins, hoarding for speculation, and cashing out profit.

Then , how to value Faicoins?
For Bitcoin and other cryptocurrencies, this is a big question mark. But for  Faicoin ,this is pretty clear:
The Faicoin value is from the value of Fai blockchain space.
A Fai content can be seen by every FAI user. It's like ads, the value of ads is based on impressions.(But different from ads, contents in FAI will exist for ever and have potential of more future impressions)
Because blockchain space is limited ,so the more the users, the more precious the FAI space. This value goes to network fee, and then goes to Faicoins.
A rough example: it is reasonable to publish a picture to FAI system spending $1. If the pic size is 100K, the fee will be φ100. This means $1=φ100.

Then, what's the exact number of Faicoins issued?
Total coin number is 210 Billion. All of them are issued in the first 25000 blocks. Early users mined some issued coins(they were attracted from google ads). At the time we opened this thread, issuance was finished.
Coins mined now are actually giveaways by us--100 coins per block. We will adjust this giveaway amount by user number and block filling rate.

Then, why so many coins?
Let's get this straight:
1 We invested big money into this project, it's reasonable to get rewarded.
2 Huge number of premined coins will scare speculators off. And, we will keep the coin price healthy: if it rises too much ,we will sell; if  it drops too much, we will buy in.
3 The good development of FAI society needs bounty for good contents, nodes,apps, offchain services, etc.  Miners and speculators won't do this, only investors are willing do this.

Then, what if Fai investors dump Faicoins?
This question only comes from speculators.  People who publishes contents only cares about the fiat currency price of blockchain space.
But we will give a clear answer for this:
The total value of all faicoins is based on the value of blockchain space.
If we sell them all in one day, we get the value of one day blockchain space.
If we sell them all in one month, we get the value of one month blockchain space --30 times more than one day dump.
If we sell them all in one year--365 times more, ten years--3650 times more.
So, we don't have the motivation to dump.

Then, how can users get benefit from the FAI system?
Basically ,users are directly benefited by using the free anonymous functions like browser, messenger, shop.
You can earn Faicoins from the bounty projects-- publishing contents, setting up nodes, creating new apps,building services, help promotions, etc.
At the same time, you can build up reputation of your ID/domain/blog/shop/app/service. You can make money by tips ,ads, membership, etc.
Wth the growing of user numbers ,the Faicoin price may rise accordingly. So making profit by holding faicoins is a long-term investment instead of short-term speculation like other Altcoins.

You got the most important point!
This is a decentralized internet platform.
Serverless websites can be built on it.
Please write some interesting apps. We will give super big bonus for the first app.
Please feel free to get technical support from us.

Thanks for understanding--and you've rewarded-- you got a lot of coins, and I promise you can make good profits from them.
This thread is one of the must-dos.Though we triggered some hatred , but we found many precious users who really understand the system.
We are exploring niche markets to advertise.
As for counting of nodes, today is the first day that online node number reaches 30.
There is a big hashing power with more than 30 servers come and go, they went away today, so you are lucky and mined the coins with a small hashing power.

Great!
The blockchain timestamp is very useful for orginal conent.
We are discussing if we should open the source earlier.
Before open source,testing is easy:
p2p test:sync, disconnet internet, browse.
backdoor test: use net sniffer to watch packages,  all packages are in Bitcoin-like format:packetmagic--command--data. All data are public to the whole network.

Thank you very much! Especially the understanding of the project.
Please mail to [email protected]. We will post a ubuntu64 dynamic link version to enable you post contents.But it needs you to prepare the libs
We will give out rewards for running nodes after Faicoin has a market price. At lease the rewards should cover your cost.
And a help needed is to help us promote the project, let's talk via email.
Thanks again!

We are writing an article for this, will post later today.

Sounds vary good! Waiting to see this apps

I might make a few apps or something with this.
Stay tuned! Will also put up a few nodes in a while

Unfortunately association with the darknet will discourage more mainstream adoption. I think it has an appeal to a wider audience if done properly with community control


The downside could be content that is illegal or unethical in your country

Too bad, no one is really interested.
At the moment, i have about 80% of the hashing-power, with only 1 PC and a Server.
Also, nodes are getting fewer

I think it should be announced somewhere else, as this is not just another useless altcoin.
Maybe you should advertise it more on the darknet-scene (as you already did with the DeepDotWeb review), as they will love it - once they understand the opportunities.

Great idea if it can be sustained


Original content publishers like me (astrophotography) would love something like this as an alternative to FB or Instagram to share content.


I can see many other uses for this after it matures and the code is released.


For now I am just watching and waiting for a code review and some time to pass to see if the dev sticks around

Hello,

i think the concept is great, but most people don't understand the purpose. It's not another altcoin.
Right now, i have set up a Server (4x3.4 GHZ, 4GB RAM, 100mbit) with a FAI-node.
Here is the ip:


If the project grows, or the source will be released, i will setup many more persistent nodes.

Right now, i can't insert content, as the Linux-version is only the CLI.
Once the normal version or source will be released, i will also add valuable content.

If you need any help in offering linux binaries/packages, just contact me, if you want (also for PPA).

//EDIT:
And for those, who are sceptical about the closed source: just run it in a sandbox (like i do).
For linux, there are many sandboxing techniques. The simplest is: Firejail (GUI). Alternatively, you could use SELinux.

How much premine dev?
You should be open with the community

Thank you for bumping
go on.
will give you reward for this

Bitcoin is under flood attack again. ΦFAI has already implemented an anti-flood solution.

https://twitter.com/acimirov/status/652397890896306176

Retweet with address to Yobit to add Fai on their exchange & get 100 Fai coins.
(All false/double/fake accoints will be banned from this giveaway.)

i dont think develop by chinese is bad idea. but the point is dev premined 99.99999999% and  dare not admit it .  

first 1700 block dev got 190000000000 coins and we dont know how many coins he got from first 30000 block..  lol
1000000000000000000000000000000000000000 coins ... lol  manybe !!!!

all of us mined all day just only 30000coins ,  whats feeling of you ? lol

same question from  http://8btc.com/thread-23414-1-1.html

I think that the development was involved with Chinese audiences from the start. The wallet released with a Chinese translation inside etc.

It seems to be the exact same text too, what do you imply that someone 'stole' it? It seems like the same thing is promoted.

  it is chinese coin from begining

Here is the translated text on this link:



Cannot see anything wrong?