Quote from: Dotcommie on January 06, 2015, 06:45:37 PM

Quote from: FoldingCoin on January 06, 2015, 02:50:40 PM

Quote from: jsamul on January 06, 2015, 11:02:20 AM

Quote from: zidansz on January 03, 2015, 10:52:00 AM

from bittrex

Code:

This market is in danger of de-listing due to low trade volume and lack of user interest. It may be removed on January 9th unless the average daily trade volume for the last 7 days exceeds 0.2 BTC.

last chance to sell the shitty coin

If JackpotCoin moves to Counterparty, it would be able to stay on https://masterxchange.com/index.php permanently and it whould be compatible with the built in Counterwallet exchange (which is a decentralized exchange that requires no third party). A decentralized exchange is important because of things that have happened to MtGox, BTER, and most recently Bitstamp.

Counterparty is a revolutionary protocol that I think this community should really look into. It has tons of applications built into it and more being developed everyday. The most exciting in my opinion is Overstock.com hired the Counterparty team to create a decentralized Wall street http://www.coindesk.com/overstock-hires-counterparty-developers-build-cryptosecurity-stock-exchange/

I guess I haven't been following other developments recently since you guys flew under my radar it seems. Would what you're talking about require a swap and reconfigure of the coin? In my opinion the unique algorithm and jackpot features are the most interesting and it would be a shame to change that. Also, this coin is a bit different than others since it will reach nearly the max POS coin amount around 1.25 years from now(i think) and then the other coins making up the total would be 25 years worth of POS/POW rewards. Would any of this have to change?

It would require a swap to be fully on our system, however one coin we are working with is going to continue to run both CP and their own blockchain. We will not delegate how the community wishes to proceed, but to be fully secured it is recommended that a swap be done like Scotcoin where the old blockchain is simply abandoned. The unique algorithm you would lose, but here are the main advantages and disadvantages to moving over: (simply replace FLDC with JPC to understand the following)

Counterparty’s advantages over a traditional mined Altcoin

The assets share a wallet and blockchain with BTC

BTC miners hash the blocks for the transactions

When one sends a Counterparty token to another wallet, the transaction is actually encapsulated into a BTC transaction on the BTC blockchain. In effect, one also sends a very small amount of BTC, in addition to Counterparty token.

Asset issuance can be locked by the Counterparty protocol ensuring that even the asset owner can’t introduce more of the token into the market. FLDC was created as a locked asset http://blockscan.com/assetInfo/FLDC.

As Bitcoin and Counterparty developers innovate, assets evolve with them. With Counterparty there is no separate development of new apps like mobile wallets. When Counterparty creates them, all assets are compatible automatically. Most Altcoins have to develop their own apps since they have a separate blockchain.

Counterparty assets automatically get security and GUI updates as the Bitcoin and Counterparty developers release them, due to the common Bitcoin blockchain.

No mining is required by Counterparty assets. Token creation and transfer can be verified by third party sites such as “blockscan.com”. For the FLDC asset, this is available at http://blockscan.com/assetInfo/FLDC

The asset owner can focus on adoption, distribution, and economy of the coin, and not software development of the coin itself.

No energy is wasted securing a blockchain, all resources are strictly for Folding@home work units.

There is no exposure to a 51% attack unless it happens to the Bitcoin network itself.

CGminer and other mining applications are very confusing and require a lot of patience and research for the first time miner or general user. The FAH program and FoldingCoin Inc. has made it incredibly easy for anyone to start right away. http://foldingcoin.net/video-tutorials/

Counterparty’s minimal cost structure has allowed for 100% of the FLDC tokens distributed everyday to be divided amongst the combined daily credits of the folders. No percentage goes towards SHA 256 or Scrypt miners, donations to the project, or development funds.

Counterparty’s disadvantages over a traditional mined Altcoin

Every FLDC payment to a folder requires 0.00006 BTC in order to be included on the Blockchain. Up to now there have been less than 100 payouts a day so the BTC amounts have been funded out of the FLDC team personal holdings.

Incorporating FLDC with FAH could potentially reach hundreds of thousands of individuals, so this issue would need to be addressed.

That fee could potentially be lowered depending on Counterparty’s willingness to change their code. It could also depend on the blockchain accepting micro transactions. The team is still researching this.

Since the FLDC token is on the Counterparty network, it is considered a “fully pre-mined” asset.

The term “premine” is considered a bad thing in the AltCoin world.

Folders are concerned that all coins are already created.

We have good intentions and so far the community does not doubt that, but the fact remains that we fully control the distribution of the coin.

IF we wanted we COULD do a runner after the coin became valuable. With Counterparty there really is no way to stop to this.

We could have created the coins as we did distributions but the problem would still exist, that we could create a whole bunch and do what we want with them.

There are potential solutions on the horizon to mitigate some of these risks, the most promising is “Multi-Sig”