September 10th Update

Welcome New Folders!

Hello everyone! I would like to just make a quick post regarding some things over the last week with the newcomers to the space. Very exciting stuff so lets begin ūüėÄ Some frequent questions I have gotten over the last week from new folks are as follows:

  1. Why does the address 1CzewqDLUa7t1dBNAySCv1dzKJmLwxXAwB have 500 million FLDC?Answer: These are the undistributed FLDC for future distributions. Counterparty has two different ways you can manage a token:
    1. Create every token there will ever be, then lock them so even the owner of the token cannot create more. This is the path that we took so there is no possibility for even the FoldingCoin staff to introduce new FLDC to the system.
    2. Create tokens as you go. This would allow us to continously make FLDC until we lock them. We decided the 1st option was the best, though we do understand that both these options have their pros and cons, but that is the way Counterparty is designed.
  2. Why does the address 1DQvYaXLwbdiz27HNLHbvTGpsBkVf1rqmD have 100 million FLDC?Answer: These funds are seperated from the rest as these funds are allocated for folks looking to develope for FoldingCoin. Up until this point, FLDC has not had enough value to justify paying someone FLDC to help the project, but now we have an opportunity to do this. Because of the recent price increase, we will be discussing this more at the next meeting as Myself, Jonas, and Helene will be discussing this in our private slack channel over the next few weeks. Though if you would like to earn some of these FLDC and join the team, we would love to have you! Please email rross@foldingcoin.net or DM @pooktwo in the FoldingCoin slack.
  3. How do I start earning FLDC?Answer: You can simply go to this page for a detailed breakdown, or view our explanation video found here.
  4. How do I earn Curecoin and FoldingCoin?Answer: In addition to following the above steps from the previous question, you need to join the CURECOIN team 224497 AND you must also follow the CURECOIN setup found on their website.
  5. What other tokens can I earn?Answer: Right now only the Spells of Genesis project is distributing on our platform. They are distributing the MAGICFLDC token and they are being secretive about what it does, but it will be involved with the highly anticipated Spells of Genesis game. If you have a Counterparty based project though you may become a partner, just send me an email at rross@foldingcoin.net and we will discuss your projects promotion on our platform.
  6. I have been folding for a couple days now and have not received anything yet?Answer: We only distribute tokens on the first Saturday of each month (if there are distribution issues on Saturday, then it will be the first Sunday of each month).

If you have any additional questions about the FoldingCoin project, your best bet would be to join our community directly by joining our Slack from this link. If you have Folding@home issues such as your GPU isnt working, the longtime folding forums are going to be your best bet. If you have any partner questions email rross@foldingcoin.net

The last thing I would like to state in this section is that since this new high volume, FoldingCoin has grown from 40,000,000 PPD to 58,000,000 PPD on the FAH network! Great job new comers and we hope to see you folding for years to come (or until cancer is cured, whichever comes first ūüôā

Significant Trading Volume

If anyone trades cryptocurrency on¬†Poloniex, you are sure to have seen the FLDC volume that occurred over the past few days. We at FoldingCoin are very happy for the Folder’s and Trader’s who hold FLDC but we want to remind everyone that the FoldingCoin team itself is not in the business of giving/encouraging trading behavior. Our focus is to expand the project and bring more Folders onto the platform. I got asked a ton of questions yesterday after the spike on if one should buy or sell FLDC and I cannot answer these questions, I can only encourage you to earn more FLDC via the folding platform. Trading still is a big part of the crypto world and the profits people made yesterday are part of the reason many want to join the folding network and we completely understand this. We just want to clarify that the FoldingCoin team will never encourage behavior in one way or another, that is up to you as a trader to make that decision.

With that being said, let’s go over what happened in the last few days:

  • According to Poloniex, here are the following stats for September 8th trading:
    • Open: 66 Satoshis
    • Close: 505 Satoshis
    • Weighted Average: 306 Satoshis
    • Low: 65 Satoshis
    • High: 820 Satoshis
    • Volume FLDC: 1,344,430,981
    • Volume BTC: 4,114.5 ($2,550,990)
  • September 9th
    • Open: 502 Satoshis
    • Close: 353 Satoshis
    • Weighted Average: 435 Satoshis
    • Low: 265 Satoshis
    • High: 620 Satoshis
    • Volume FLDC: 514,392,329
    • Volume BTC: 2239.1 ($1,388,242)
  • At the time of writing today on September 10th:
    • Open: 352 Satoshis
    • Close: 359¬†Satoshis
    • Weighted Average: 298¬†Satoshis
    • Low: 250¬†Satoshis
    • High: 379¬†Satoshis
    • Volume FLDC: 87,169,162
    • Volume BTC: 260.11 ($161,268)

This is extremely exciting and we are very happy to see this level of interest in FoldingCoin. It was also exciting to see that other “CauseCoins” followed suite and had great trading days as well. Curecoin and Gridcoin had high volumes as well on Poloniex. Many people asked me “why the price spike?” and to be completely honest I am not sure. Just like every other cryptocurrency spikes it is very hard to pinpoint one particular thing that caused a spike to happen. All I can do is summarize what has been happening in the community lately and perhaps you can come to a conclusion on your own as to why the price spike occurred. So here is what has been happening lately in the Folding world:

Nerdgasm inspires his viewers to fold

On August 29th, prominent tech YouTuber “Barnacules Nerdgasm” recently reviewed Folding@home during one of his YouTube videos¬†which has already generated over 54,000 views. After this video was released, Barnacules FAH team number 231300 became one of the top teams in the network. At the time of writing, the Barnacules team’s current standings are:

  • Active users: 2,507 – FAH rank #1
  • 24 PPD Average:¬†111,580,769 – FAH rank #2
  • Network percentage: 9.95% – FAH rank #2
  • Team Standing: Rank #85 (estimated to be in the top 15 in just 3 more months)

During this time, people began tweeting more about FAH, FLDC, and CURE. The assumption¬†many made is that some of these participants began earning FLDC, however this is not true, as I looked through the user list on the Barnacules team and I don’t see a FLDC participate until their 827th top user. However because of this I will begin to point my folding operation over to this team as I should be able to get into the top 20 to hopefully allow others to recognize the long BTC related username.

The 2 FoldingCoin BETAs in the works

As we discussed during the last public meeting over last weekend, we have 2 BETAs in the works. You can find a complete summary of these by reading last weeks summary or by viewing last weeks meeting on YouTube. To summarize these though they are as follows:

New Distribution and Calculation Server

Our developer Mike has been working hard on the new platform and you can see his work so far by going to this website. Mike told me he should have this ready by next month and I will be meeting up with him in person again next week to discuss his process further. I spoke with him on Thursday and he said he plans an getting some work done this upcoming Sunday as he just returned from vacation and has other projects he needs to finish first.

Beginning of the All-in-One installation package

One of our biggest Folder’s “Hou5e” has been working over the past few months on an All-in-One installation package to make it easier for folks to begin folding. In the last meeting he demoed this and it looks amazing! Though keep in mind that it is not yet ready, however you can begin to test it out on your own if you like by going to his Github page and downloading it.

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