I had an idea earlier today - I remember seeing in the past an idea by a coin called 'Delete coin'. Basically it was set up with a similar idea to FAIL, an answer to the many scamcoins out there that have left people holding bags of worthless coins. The idea behind it was that you could surrender your scamcoins and exchange them for DELETE coins at a certain exchange rate. Now I don't know the details of how it all worked but I believe that we could do somethign similar - I know a couple of members here had the idea of giving away coins to people on the street. May I suggest that in addition to that - put aside maybe 50% of the coins that you were going to use for this project and promote to those who have been left holding bags of useless coins that they can 'surrender' those bags in exchange for FAIL!
I think this is a great way to not only increase the size of our community and give those who have been burned a chance to be apart of a REAL community, but also serves the purpose of 'giving away' coins and looks REALLY good to anyone dropping by to see what this coin has going for it.
What do you guys think? I can't think of a better way to advertise our coin and spread good will to everyone who has had the misfortune of getting burned in the past! Remember those who are given FAIL in exchange for their scam coins will no doubt be singing our praises across the threads here and elsewhere on the internet - there is no greater publicity than that from a happy customer! =D
I remember 'DeleteCoin' and I do like the idea. Alot of people shouted out 'scam' when they seen this coin, thinking the Dev would just cash in any coins sent in but overall I think the idea is great.
It's a way to give something back to the community who have been scammed by many of these coins. I am willing to contribute and help where needed.
Then if its possible I will contact the guys who worked (or still working idk) on Delete and I will ask them to join our community. We need honest people.. success will follow.
That's awesome guys! I found the DeleteCoin thread and notice they have a calculation that can be used to determine how many FAIL a person should receive. I suggest however that we improve on that and in addition to coming up with a '2.0' version of this idea require that those who want to surrender their scam coins provide evidence of what they purchased, how many, when, and at what price. We don't want abusers buying the coins now and exchanging for FAIL. It should be an initiative to help out those who TRULY were scammed or innocently bought a dud coin. I also suggest we place an upper limit on the number of coins each person can receive.
I'm sure there are many ways people could abuse this proposed 'good will' initiative but I'm equally sure that we as a community can come up with solutions!
I think we are in a much better position to take this idea forward now - especially with the imminent multipool launch, it will give those who do receive FAIL a clear incentive to hold those coins rather than selling them as soon as they get them.
We could even avoid that risk altogether by creating an approach similar to KarmaShares - where users sent in their KARMA to be held by the Karmashares LLC for long term investment. That sort of idea could well work here but in a far more simplified model. Users send in scam coins, we 'assign' them an amount of FAIL from 'the stack' - those coins belong to them but they are held in the community's wallet for long term 'safe deposit'.
No dumpings & Happy customers who have got a free long term investment.
All just ideas - let's all try and contribute as many ideas as possible and together fine tune it to a position where we all believe it could work!
Some people will try to abuse the idea for sure. At the moment we have other important work to finish, but together we will eventually find simple solution. My vision is kinda different tho. We can create "SPC" - Scammed People's Club (something like AA Club
) were people can share their pain and receive coins. This is no joke. There are many people who were not just scammed, but entirely robbed and they are not around anymore.
Absolutely - lets get what needs to get done out the way before properly investigating this idea - but Im glad you all like it! This is the best part of a healthy community, bringing in new ideas and new takes on old ones - together we can make FAIL the best Scrypt Altcoin on the market.
You were right about staying with Scrypt - we need the ASIC mining power for constant buy pressure. There will be many people who have purchased massive Scrypt Mining Farms and no longer are making a profit on Litecoin - lets give them a coin that they can not only participate in and help improve - but also make a greater profit.
I see FAIL hitting around 30 Litoshi after 1 week once the Multipool is fully operational. From there it should have increased enough for Bittrex or Mintpal to place it on their exchange and allow us to reach a far greater proportion of the crypto trading world.
Its such an absolute steal at this price - We have more people than ever lining up to buy CLOAK for example which has gone from around 7000 to 188,000 in just a couple of months - if they knew of FAIL they would be all of it!
