Post
Topic
Board Announcements (Altcoins)
Re: [PRE-ANN] [kFC] [28 hours Phase 1 IPO] Futurecoin - Groestl-Skein-SHA256 - Crypto Vesting - IPO
by
Friedman
on 17/04/2014, 23:02:22 UTC
3 mining algos mining currently. That means asic / cpu / gpu can all mine. For example SHA256 and skein both mine at the same time. Difficulty is independent in each algo. We do not claim GPU-proof only that the cost of developing ASICs for the other two non-ASIC algos (groestl and skein) will be cost prohibitive for the short to long term future. This structure means that more people (ASIC/GPU/CPU) can mine, we aim for inclusion not exclusion.

Vesting is done by block reward. The newly mined blocks need to be "vested" for a set period of time before they can be spent (details in main post).

Please reply if this is not clear. I am a programmer not a marketer.

Leaving mining aside (as other coins launches have proven it's contribution to final coin value is fairly minimal), can you explain how you see the vesting innovation contributing to coin value?
You don't need to be marketer for that, just explain your own vision, your pitch.

The idea is that miners have to hold their coins for a set amount of time. When they hold their coins it will be in their best interest to promote the coin, create services, ..., thus increasing its value. Even miners who mine to immediately dump will be forced to hold and promote if they are mining directly.

Of course there are some miners who will want to have their coins immediately I foresee pools like blackcoinpool to mine other coins and buy vested Futurecoins on the open market and pay out their miners immediately. This also good because it creates buy support.