Topic: [RE-ANN] FAILCoin | This thread will not be followed! - page 5. (Read 68286 times)

Hello,

I've made a mistake about the denomination. It would be 1 old for 0.00025 new FAIL (I've missed one zero). Sorry about that.

Cheers,
Spartak

Dear FAILers,

Swap is now live on EmpoEx!


DETAILS ABOUT THE SWAP:

1. Sign up to EmpoEx exchange.
2. Deposit your old (current) FAIL coins to EmpoEx. Please make sure that you are not sending more than 50-60 million coins per transaction.
3. Wait until 6th of April 2015 4pm GMT (about 14 days and 2 hours from now), when swap will over and EmpoEx will denominate the coins for you.
4. FAILCoin will be denominated at the rate 1 old for 0.00025 new coins!
5. Currently there are less than 80 billion old FAIL coins. EmpoEx already have 20 million coins for the swap, which means they will be enough (80B old = 20M new). If there are coins left, they will be burned.
6. Make sure to swap your coins before 6th of April 2015 4pm GMT, because old FAILCoin will stop working right/soon after the swap is over!
7. No one (even members of our team) will receive coins before the countdown ends, so please don't ask EmpoEx to send you new FAIL coins until the deadline is reached!
8. 14 days is more than enough time for everybody who follow FAIL to swap their coins. We will remind it to all each and every day, so if someone misses the deadline, it will be by his own fault!
9. When swap is over new thread with new logo, graphics and future develoments will be launched!

FAILCOIN SPECIFICATIONS AFTER THE SWAP IS OVER:

Algo: Scrypt
Supply: ~71,683,751 coins (after ~30 years)
Block time: 64 seconds
Initial block reward: 12 coins
Difficulty retarget: Every Block
Nominal stake interest: 3%/year
Min transaction fee: 0.0001 FAIL
Fees are paid to miners
Confirmations: 10, maturity: 50 Blocks
Min stake age: 8 hours, no max age

Halving will occur at 492,750 block (~1 year), when total supply (+ the premine) will be ~26,690,390 coins. After that block reward will be 6 coins for ~2 more years. At the 3rd year of PoW phase (block 1,478,250), FAIL reward will halve to 3 coins and PoW phase will continue for another ~2 years (~5 years PoW phase in total). By the end of the PoW phase (around block 2,463,750) there will be ~40,000,000 coins (+ the premine) in existence. After that FAIL will become fully PoS at the rate 3%/year.


We wish you best of luck and let us hope that we will not have another failures!

Best regards,
Spartak

P.S. In case you have problem with syncing, try adding these as nodes:

Guys,

We currently discuss the swap on EmpoEx. They already have the premine. Stay tuned as we are about to post details in about an hour!!!

EDIT: Trading on EmpoEx is disabled as we are about the start our denomination process!

Cheers,
Spartak

No, because I personally think it will be way too complicated. People can inform about FAIL here, on Cryptocointalk, Facebook and Twitter (soon on Reddit as well). We always and will be posting news everywhere. Perhaps I can talk about forum with Jimmy (Cryptocointalk's owner), which is a extremely great guy. I believe it won't be a problem FAIL to have one. There we can create subforums, giveaway topics and such. It will be easier for all.

It is alright. Will there be any official forums set-up? Not a forum in a crypto forums.

We will spread the news in forums and social networks and we will repeat them until people get tired of us. Your idea about newsletters is not bad at all, but we want to keep things simple at the start as we can both agree that FAIL currently have other priorities. We just pray everything with the swap and the coin itself to went smooth. After that we can think more about FAIL's future.

Personally I think that everyone should subscribe to the ANN-thread, and the devs should post important updates on the thread and also on other social media.

You can click the "notify" link to recieve email when there is a new message on this thread.

Good to hear that swap might be starting today. Do inform me when it is started. Why dont you collect a bunch of Failers email and notify them if there is something new happening to FailCoin? Somewhat like a newsletter? I will be interested to sign-up if you dont spam my inbox..

That is why they are called social networks. Personally here I am spartak_t - just a nickname. It doesn't matter that my realname is Spartak (or - Spartacus). There I am human being which keeps close contacts with people interested in FAILCoin and I will always do it. For me, this is the way to make something better no matter if it's cryptocurrency or something else.

P.S. Btw there is high possibility for the swap to start today. I am talking with our developer as we speak and things look good. Stay FAILed.

Cheers,
Spartak  

I rarely use Facebook or twitter.. :l. I feel that forums is better than those 2.0 social network..

I posted on Facebook and tweeted more than 3 times, but forgot to post it here earlier. Otherwise it was like 8-10hrs before the game.

You should post it earlier.. Next time, if you have any contest.. post 48 hours beforehand.. :l.

4 people guessed the result from El Clasico and each of them received 1M FAIL coins. About 30 people participated. Thank you!

Cheers,
Spartak

I'm posting pictures from my home and my ID with the intention to scam everybody. So yeah... FAIL is dangerous.

FAIL......! sound danger

Hey FAILers,

I am preparing for tonight's El Clasico between Barcelona and Real Madrid. I also tweeted that FAIL will give 1 million coins reward for those who guess exact result of the game. Just tweet with your prediction and FAIL address.

http://twitter.com/FAILCommunity/status/579584102413803520




Cheers,
Spartak

Hey, FAILers,

GOOD news!

It seems that our latest attempt on PoW/PoS combination was successful! We were experiencing troubles with PoS reward which should be 3%/year., but now after 8 hrs all is looking good. We remind you that our goal is FAILCoin's PoW/PoS phase to be 5 years, after which the coin would go fully PoS for another 25 years. Based on simple calculations if you are staking 20M coins you should receive about 1660 coins/day. You can see that currently we have staked 551 (for 8hrs).

P.S. Mined blocks are with 0 reward!

Probably our long waiting will over soon, but we are expecting the dev to confirm as he is not available at the moment!

EPIC FAILURE!!!



Cheers,
Spartak

Seems like former two-time Heavyweight boxing champion Riddick Bowe wants to buy some FAIL.







P.S. Currently we have issues with combination PoW/PoS, but we are continuing our work!

Cheers,
Spartak

I understand and I will make sure to contact you when we are ready. Thanks for the interest!