Topic: [RE-ANN] FAILCoin | This thread will not be followed! - page 10. (Read 68286 times)

It seems that you don't understand me. Currently we have about 80B FAIL mined. If the swap is made at the rate 1 old FAIL for 0.00025 new, this will reduce the coin to 20M initial supply. After that old FAIL will not work so you need to swap all the coins that you have. If we assume that not all FAIL are swapped (let's us say 60B out of 80B are swapped) it will means that FAIL will be with 15M initial supply. That also means that there will be 5M new FAIL left which have to be burned (with provided proof for burning), because some people may think that we will dump them or whatever.

Why is it 'impossible' to use? What if I store them (old FailCoin) in the old wallet?

It means that if we premine 20M from new FAIL, but only 15M are swapped, the rest 5M will be burned (i.e. it will be impossible to be used).

Dont worry, I will swap my old FailCoin for new FailCoin when it is ready! However, I dont understand what you mean by 'burned old-coin'. Can you explain it to me?

Glad to have you back.

P.S. I don't know how easy would be to buy few million as we first plan to reduce FAIL to less than 20M (which means that we will premine 20M coins for the swap). I believe that most of the coins will not be swapped, because many people still think that we are joke and probably most of them just deleted their wallets. With that said I expect about 50-70% of all coins to be exchanged on EmpoEx (rest of them will be burned). To tell you the truth, we still don't know what would be exact specifications of FAIL, but we will probably decide by tomorrow.

Cheers,
Spartak

Okay cool, thanks. I'll keep checking the thread. Glad it's revived, I mined from hour 1 of release 1, so still have millions of coins afailable. Might buy a few million more too at these prices

Yes, you need to send your FAIL to EmpoEx and receive new within 2 weeks (rate is 1 old FAIL for 0.00025 new). We will probably talk with them again to see if there is possibility for the people to withdraw them earlier. Currently you can send coins to EmpoEx only if you want to sell them, because fork is not ready yet.

Sorry but cbf to read whole thread. All i need to do is send FAIL to EmpoEx, I then get new coins returned? Should I do so now?

Great! I will be waiting for the next version of FailCoin! My FAIL are ready to be exchanged for new FAIL at empoex!

We still didn't discussed that. At the moment our main goals are the fork and the team behind the coin. After that we can start building FAIL (probably new or at least tweaked website, exchanges, merchants and such)...

Great! I will be looking forward for a new thread! Also.. since you talked about the website, will FailCoin have a new website? I mean.. a new sparking look?

They will be listed in our new thread and probably in the website. We still need to find managers for Spain and Germany and why not for Japan...

Cheers,
Spartak

Can we have a list of manager at the website? Or maybe in the thread? A full list.. I can't keep track if you keep posting and..

Dear FAILers,

Our community manager for China and Greece is qiwoman2 (Twitter: @goldentags). She is the second lady in our team after devvienuis (Manager for Netherlands). I already told you that we have also found manager for Italy and France, but he does not have profile in btctalk and I am waiting him to register pretty soon. About the fork.. I believe that it will be done in a week or so. Probably tomorrow we will have clear vision about final specs of the coin and our dev will continue to work.

Best regards,
Spartak

Dear FAILers,

We found community manager for China and Greece. Details will be announced tomorrow.

Best regards,
Spartak

Hey FAILers,

Several people told me that they don't like the logo so I decided to draw another one. Like it or not - this is going to be our new logo until some big time designer decide to help us and create new one.



Logo explained:


1. I used clasic blue color and some emboss for the first circle implying business and depth of thinking.
2. The orange bitcoin-like color in the second circle points that we are cryptocurrency.
3. The text on the upper side (@FAILCommunity) is written with strong and bold font to show the strength of our community.
4. Other thing that is supposed to show our strength as cryptocurrency is slight granite texture in the orange circle.
5. The "IL" letters are slightly lower than "FA", but I think that don't need explanation.
6. Some of you may notice that "FAIL" inscription is slightly deflected to the right direction. I did it to hint that we are going to be right-oriented (i.e. everybody should have equal possibilities). It is also supposed to show that we are thinking outside the box.
7. The "We are different" text is supposed to show that we are not only some coin.
8. The only fun part (at least that is what I aiming for) from the logo is "FAIL" inscription font.


P.S. Yesterday I've had another long conversation with our developer and we had doubts on the new specs of FAIL. That is why we decided to give to ourselves 2-3 days of thinking and researching. I can only say that we have decided to implement several algos so people with SHA ASICs or GPU's will have the chance to mine FAIL as well. Although I understand that some chinese manufacturers cancelled their scrypt ASICs production I personally believe that ASICs will change the game in 1-2 years. With that said we had also doubts about the time of mining before reward drops to 2 coins. Anyway.. we are here, we are working and we will deliver so bare with us. Best of luck ot all!

Regards,
Spartak

Well.. it will not be necessary our new logo.. it's just a try. About the thread - probably yes, but we will aim to simplicity (we failed on logo though? ). People need to understand our goals with little research. Not looking at 100s of images which most of the times are confusing.

Glad that I'm one of the first few who see the new logo. So.. will there be an updated thread? I mean.. not just plain text, how about a infographic? Like what others successful (in our case, fail) coins have. Take a look here, http://www.freepik.com/free-vectors/templates, http://www.hongkiat.com/blog/infographic-design-kit/ and http://inspiredm.com/20-new-free-infographic-kits-templates/. Or Google it.

Dear FAILers,

First I want to say that I am not a designer, but decided to create new logo. Below I'll explain my visions on the logo and you can tell me if I FAILed.




So...

1. FAILCoin is mainly a funny coin and that is why I decided to use funny font for the name and came up with something like a slogan above. I also used something like graphs instead of the letter "I" to look like the price is dropping. I think that little man needs no explanations.
2. I used business-oriented font for coin inscription to hint that our intentions are not only to have fun together, but also to develop a project that will last for years ahead. The inscription "established" should also point that we are serious.


Please share your opinions, no matter what are they.

Best regards,
Spartak Tomanov

Nice.