Topic: [ANN]Faircoin - MULTIPOOL PAYS --- 20%--- BONUS! for the next week!! - page 48. (Read 341944 times)

This goin looks good until you reach 2 key part for a cryptocoin:

First big problem - The distribution:
There is no fair distribution in this world: PoW, IPO, IP based distributions, they are all unfair.
Still PoW can be fair because if a programmer hardcode an Epoch time in the coin's source with a newspaper headline then everybody will know there were no premine by the creator.
The fair means that the original creator can't use his power to get a lot of unfair benefit, how the coin will be distributed between the miners that is not important after that.
The IPO and IP distritbutions can be fair too, if you do it in a transparent way, so you keep track all the incoming Bitcoins and give the same percent ammount of Altcoin to the investors.

See how the faircoin developer did: He made a website with a token system, then shared a pdf with the website visitors statistics.
Now this is nothing. You can have 100 000 visitor without any signup and you can have 50 000 visitor with 50 000 signup.
And he could fake this spreadsheet if he wanted.

Just ask one question to yourself? Is there anything what would kept this faircoindev back to signup with 25 000 address and keep half of the coins for himself?
Now with singup I don't mean manual signup with the token system, he owned the website and the database too. He could generate 25 000 address in 5 minutes then inject it to the database.
He could even make the counter on the site to count the signups twice as normal, so there wouldn't be a big 25 000 up on the numbers.

Many of you said for this problem that all of you got their coins, where if only 25 000 000 was given away to the public then all of the registrators got their coins, just the signup period was closed much before because this faircoin guy kept half of the coins.

I don't say he kept the half of the coins, but he could, he could do it very easy, if he wasn't dumb enough he did it.

This is a very big problem, and the community will never accept such a coin to grow big. Even if the creator would share a nice spreadsheat which conatins all the 50 000 signup's IP address, that can be a fake too, its not hard to fake something like that.

Second problem - Still have PoW mining:
This coin still have some PoW mining, though you can only mine the transaction fees. But the hashrate is very low,
anybody with a bigger hashrate can fork the coin and make a 51% attack.
You don't need to own half of the coins, you can make a fork with only 1 PoW block.

I don't hate Faircoin just want to open your eyes, for that matter I bought a few faircoins and sold them all with nice profit, but still this coin has no future.

This goin looks good until you reach 2 key part for a cryptocoin:

First big problem - The distribution:
There is no fair distribution in this world: PoW, IPO, IP based distributions, they are all unfair.
Still PoW can be fair because if a programmer hardcode an Epoch time in the coin's source with a newspaper headline then everybody will know there were no premine by the creator.
The fair means that the original creator can't use his power to get a lot of unfair benefit, how the coin will be distributed between the miners that is not important after that.
The IPO and IP distritbutions can be fair too, if you do it in a transparent way, so you keep track all the incoming Bitcoins and give the same percent ammount of Altcoin to the investors.

See how the faircoin developer did: He made a website with a token system, then shared a pdf with the website visitors statistics.
Now this is nothing. You can have 100 000 visitor without any signup and you can have 50 000 visitor with 50 000 signup.
And he could fake this spreadsheet if he wanted.

Just ask one question to yourself? Is there anything what would kept this faircoindev back to signup with 25 000 address and keep half of the coins for himself?
Now with singup I don't mean manual signup with the token system, he owned the website and the database too. He could generate 25 000 address in 5 minutes then inject it to the database.
He could even make the counter on the site to count the signups twice as normal, so there wouldn't be a big 25 000 up on the numbers.

Many of you said for this problem that all of you got their coins, where if only 25 000 000 was given away to the public then all of the registrators got their coins, just the signup period was closed much before because this faircoin guy kept half of the coins.

I don't say he kept the half of the coins, but he could, he could do it very easy, if he wasn't dumb enough he did it.

This is a very big problem, and the community will never accept such a coin to grow big. Even if the creator would share a nice spreadsheat which conatins all the 50 000 signup's IP address, that can be a fake too, its not hard to fake something like that.

Second problem - Still have PoW mining:
This coin still have some PoW mining, though you can only mine the transaction fees. But the hashrate is very low,
anybody with a bigger hashrate can fork the coin and make a 51% attack.
You don't need to own half of the coins, you can make a fork with only 1 PoW block.

I don't hate Faircoin just want to open your eyes, for that matter I bought a few faircoins and sold them all with nice profit, but still this coin has no future.

This is not how it work, this is the way the market has to work in order to grow a bigger audience.

You cannot jump the value it has, if it has to grow up it will. The more trades happen the more hands are implied and people rarely want to see their coins cheaper then they bought them this is why the value will keep going up gradually theres no need to force anything  since faircoin is growing at a natural and healthy rate. Less then 10 days ago we were at half the actual price so it will keep on growing as we keep on supporting it.

Little updates for late comers:

1-The dev is working with a big investor about a big project coming
2-Altcoinauthority has joined faircoin marketing team!
3-Sunday the dev will make an announcement about the project ( maybe give us some more details

Trading is healthy for any coin no need to force higher prices , it will grow for sure!

This is not how it work, this is the way the market has to work in order to grow a bigger audience.

You cannot jump the value it has, if it has to grow up it will. The more trades happen the more hands are implied and people rarely want to see their coins cheaper then they bought them this is why the value will keep going up gradually theres no need to force anything  since faircoin is growing at a natural and healthy rate. Less then 10 days ago we were at half the actual price so it will keep on growing as we keep on supporting it.

Little updates for late comers:

1-The dev is working with a big investor about a big project coming
2-Altcoinauthority has joined faircoin marketing team!
3-Sunday the dev will make an announcement about the project ( maybe give us some more details

Trading is healthy for any coin no need to force higher prices , it will grow for sure!

yes . FAC go to moon!!!

This coin will go to the moon, it's just a matter of time as well as effort from all the team and community.

This post got me thinking... We're talking about major dumping like omg wtf bbq. I mean.. really? What are we mumbling about? It's not odd for BC to go up & down somewhere in the 5000 to 10000 range and we're complaining about 500 to 1000 Satoshis?

One look at the market on MintPal shows me that there is hardly any volume in the sell orders. Most of the time the prices just jump 10 to 20 Satoshi per stack. Seriously?

We have a great coin here:
- Great distribution
- Active Developer
- HashCows MultiPool
- Interesting PoS
- Impossible to mine
- Only ~50.000.000 coins (that's halve of BC and about twice BTC)

In short; It is our market! and we allow our FairCoin to be sold cheap!

No offence, but we should stop fooling around and set the sell price for what this coin is worth to you and create some volume. The bagholders of FairCoin must control the market, it is not the other way around. "You want to buy our great coin? Pay for it!"

I see some active people i this tread doing great work for a great coin.
Awesome people keep it up!!! 

you still have a chance to buy now, while the price is low...

Aaaaaaand of course I sold mine early for 500 satoshi  Live and learn. Good luck to everyone still holding on to their faircoins!

I totally agree with your analysis

This post got me thinking... We're talking about major dumping like omg wtf bbq. I mean.. really? What are we mumbling about? It's not odd for BC to go up & down somewhere in the 5000 to 10000 range and we're complaining about 500 to 1000 Satoshis?

One look at the market on MintPal shows me that there is hardly any volume in the sell orders. Most of the time the prices just jump 10 to 20 Satoshi per stack. Seriously?

We have a great coin here:
- Great distribution
- Active Developer
- HashCows MultiPool
- Interesting PoS
- Impossible to mine
- Only ~50.000.000 coins (that's halve of BC and about twice BTC)

In short; It is our market! and we allow our FairCoin to be sold cheap!

No offence, but we should stop fooling around and set the sell price for what this coin is worth to you and create some volume. The bagholders of FairCoin must control the market, it is not the other way around. "You want to buy our great coin? Pay for it!"

Major dumping on mintpal.... Someone sold 10 btc worth at 300. Now dumpers dump... So depressing, I entered at 300

10 btc dump at 3000 and were at 2700 already nothing serious hes just trying to bring it down so he can buy cheaper and seems it didnt work since were almost back at were  we are already.

There is a big project and good marketing from althcoin authority going on so anyone dumping now will regret. Look at bc how they came back only within a few days we can at least expect some 10-15k sat from the poker project announcement  + the marketingcampaign. Have some faith dont expect to see a pump everyday