Quote from: mr_random on April 13, 2014, 12:10:34 PM

Quote from: bitbulvar on April 13, 2014, 11:44:30 AM

This tells everything, only 1 Million market cap with almost 300k volume.
Now we can define what cheap means, Faircoin for this price!

Blah blah blah shilling rubbish

FAC is 100% premined you noob. Let me spell that out to you, that means the person who created FAC owned every single FAC that ever existed. He then gave it out to people using a method that can't be checked. Compare this with Blackcoin that uses the global consensus of the blockchain that anyone can independently verify and proof of work mining as a way of FAIRLY distributing the coin in a manner which cannot be GAMED.

Fair coin is actually one of the LEAST fair coins out there. We might as well go back to the government printing out money and giving it out to people randomly.

Lets compare the two methods of distribution that unfaircoin and Blackcoin used

1. A single person holding all the money and giving it out to people using a method that can be gamed and involves TRUSTING that person

2. People using mathematics (mining) and the blockchain, to distribute the coins out in a way that cannot be gained, which is decentralised and involves zero trust.

The irony is Faircoin is actually the LEAST fair coin out of most of the coins on here. Unfortunately a lot of people just buy coins based on a pump and don't do their research and get burned. Reason: premined coins by the dev NEVER go far in this community. Look at MINT to see what I am talking about, it's almost identical to Blackcoin and yet it's daily trading volume is pathetically small, and they both launched around the same time. Pre-mined coins get the worst reputation.

It's likely the Faircoin developer has an absurdly large percentage of the coins. You can see the proof that a single person holds a lot of the coins because how little trading volume it's taken to pump up unfaircoins price. It took Blackcoin weeks of trading 500BTC a day to get up that high, compared to 2-3 days for Faircoin. Buy unfaircoin, make the developer rich and pray he doesnt dump.

I don't think MINT and BC are similar at all. In fact the only thing they share in common is they are both PoW/PoS coins, otherwise they are completely different:

-MINT 1% Premine vs BC 0% Premine
-MINT total 70B coins vs BC 75M total coins
-MINT 5 week PoW stage vs BC 1 week
-MINT random 100000 to 900000 coin block reward decreasing weekly vs BC fixed 10,000 coin block reward
-MINT 20% PoS decreasing yearly until 5% vs BC fixed 1% PoS
-MINT 20 day stake vs BC 8 hour stake

I see the problem with MINT as the initial 20% PoS is inflationary on an already inflated total supply, which encourages large holders of MINT to dump the 'free' coins suppressing the market price.