Now don't mistake the above as an apology for central-banker regulated Keynesian inflationary currency. Freicoin is a third option: a currency which is intrinsically perishable was shown first by Gesell and then later Bernard Lietaer and others to be fair for both consumers and merchants, recession-proof, and otherwise solve the problems inherent in both inflationary and deflationary currencies. Freicoin is the medium of exchange bitcoin will never be, but even if freicoin completely supplants bitcoin as the currency of the future (as I obviously think it will), bitcoin will remain a premier vehicle for wealth storage.
Freicoin and Bitcoin fulfill two completely different purposes, although Bitcoin has until now been marketed as serving the same purpose so confusion is inevitable.
Freicoin is not pre-mined in the sense that previous alt-chains have been. It does however set aside 80% of the initial distribution to hard-coded addresses that are currently kept in cold storage. These funds will also be distributed by means of Freicoin Foundation grants. In the next few weeks we'll have a website setup where people can submit and comment on proposals in the categories of economic development and/or charitable work. At regular intervals we'll pick and fund diverse set of proposals until the entire fund is used up. This is just a different way of handling the initial distribution.
@subSTRATA, there will be conflict-of-interest guidelines for dealing with core developers/foundation staff who submit grant proposals.
