Quote from: yeltz on November 12, 2013, 07:03:30 AM

In regards to the development fund, I can't blame anyone for raising an eyebrow. In addition to the explanation Vorksholk provided above, I believe that everyone involved with the coin (myself included) wants to see it succeed. For me, this means that being transparent is important - both in terms of the devs holding each other accountable, and keeping people informed with how funds are used. For what it's worth, Vorksholk and I went in on buying a beefy nVidia card to give away for folding (keep your eyes peeled for details) - I hope that such is a sign of dedication and backing behind the project.

So far as what the coin offers, it's important not to lose sight of the larger picture. That is, creating an economic incentive to fold. Look at how successful the beta folding team was - we rocketed up through the ranks in a matter of a couple weeks. After launch, I wouldn't be surprised to see the CureCoin folding team out-ranking every one. And sure, it would be great if everyone would fold out of the goodness of their hearts to advance research on treating terrible diseases, but if we're able to attract people to folding with the incentive of a coin, then everybody wins - that is, we all get to be a part in creating a better future for humanity. I suppose what I'm saying is that the coin is more than the coin itself, it's everything that comes with it.

I agree that the folding system is nice and that giving folders an incentive to fold is a good one, I just question the ways you guys did it.

1. What systems are in place to prevent a dev needing money (say a family member needs a surgery) from stealing all the money from the folders?
2. What systems are in place to show the people folding that you guys aren't siphoning more money off the top?
3. Why 10%? 10% of all mined currency is VERY high. What made you guys choose that number? This is essentially a very massive premine. One of the largest in recent memory.
4. All the magic that happens with this coin is all on the pool instead of the coin itself. What happens if the guy who pays for that server dies or goes missing? Not trying to be morbid but there seems to be a lot of weak links here.
5. What happens if the pool gets ddos'd or hacked?
6. What happens if the folding server over at Stanford gets hacked or ddos'd?

And don't forget while there's a bigger picture with this coin, it's still a coin and we're on a cryptocoin forum, not a folding forum. This coin is probably a standard clone coin pretending to do something amazing but all it's doing is subsidizing potential miner profits over to folding. (and we have to trust that you'll actually do that)

I'm still going to mine this coin (I mine just about everything when it's new) but there's a lot of sketchy things about it. One of the major draws to crypto is it's decentralized nature and you guys have almost removed that completely. I'm not trying to troll this project, rather get some questions answered and addressed.

I have been looking forward to this project for a long time, just a bit disappointed in the execution. I'll try to shut up now and I wish you guys the best.