I cannot use the "swap ltbc for poet" button. It says the invoice is expired. Am I correct to assume that the LTBC will no longer exist?
- Email: email@example.com
- LTBcoin Compatible Address: 1AT4PaBiQHYqVMb7P36kB1ratm5rGw1MnZ
- Website: http://www.foldingcoin.net
The Project If you're like our team then you invested a ton of money into GPUs and CPUs for Bitcoin mining early on before the ASICs dominated the market. If you're also like us then you have switched to doing Altcoin mining since last April. Now with the Scrypt ASICs this year you find yourself in the same situation where you can't turn a profit. Well we have the next generation of mining for us all - FLDC or FoldingCoin.
How does it work? Instead of mining a coin directly, simply point your GPUs at the Folding@home network developed by Stanford University by downloading their FAH client. This program uses your computer's resources to help fold proteins for scientific research. No configuration like CGminer or anything else is needed. This program is very well put together and straight out of the box.
How do you get coins then? "Tokens" is a better word. Stanford has you create a user name and you choose team 226728 to fold with. You are then given credits for the work you do. Now these credits do not mean anything for the folders at Folding@home except bragging rights. You can see a list of all credits awarded on their stats page and you can see where you stand.
Folding@home and Science From http://folding.stanford.edu/home/faq/faq-diseases/ "The Folding@home project (FAH) is dedicated to understanding protein folding, the diseases that result from protein misfolding and aggregation, and novel computational ways to develop new drugs in general."
Stanford has some fantastic scientific material on their website, you really should check it out if you are interested in learning more:
What is protein folding and how is it related to disease?
Which diseases or biomedical problems are you currently studying?
Peer-reviewed results from Folding@home
Counterparty We leverage the Counterparty Bitcoin 2.0 project to build new user created assets on top of the Bitcoin network that already exists. The benefit of this is, unlike Altcoins that are subject to attacks and difficulty fluctuating all the time, your token that you create on Counterparty is actually secured by the Bitcoin network itself. To see one of these working coins just head over to Let's Talk Bitcoin! as they already have their own token called LTBCoin working using the Counterparty protocol. FoldingCoin.net has created a token using the Counterparty protocol and will distribute them weekly to every participant in the FoldingCoin Team. 3.5 million coins will be divided equally among all participant according to how many credits they have contributed that week to the folding network.
Example Distribution Formula Remember, we distribute 3,500,000 tokens every week. If 17,600,000 credits have been folded by our team on the network, the equation will be:
3,500,000 FoldingCoins divided by 17,600,000 credits = 0.199 FoldingCoins per credit earned.
So if someone folded 100,000 credits then they would receive 19,900 FoldingCoin tokens. FoldingCoins are traded as FLDC on the Counterparty network, please click on The Coin in the menu bar for more information.
What you need to do (Click here for screenshot walkthrough)
Go to Couterparty.co and setup your Counterparty wallet by clicking counterwallet.
Click on create new wallet.
You will get a 12 word pass phrase. Very important! Save these 12 words as they are your private key and password! This works like a brain wallet.
Once you log in to counterwallet, you will see 3 Bitcoin addresses created for you by default. Copy one of these addresses because they will also work as your FoldingCoin address.
Go to Folding@home and download the FAH client onto all of your mining rigs.
Start the installation and go through the windows prompts.
Allow the program thru your firewall.
After installation you will see in your taskbar a new icon, right click that icon and go to advanced control.
You will see the control panel and you will see that your work has already begun for all your computer resources. Click Configure in the upper left.
Click the passkey hotlink.
Sign up to receive a passkey and make your donor name the Bitcoin address from the counterwallet.
Then with your emailed passkey go back to the configure window in the FAH program and enter your information. Put your Bitcoin address as the donor name, team number 226728 (Important! You must be is this team to recieve your tokens) and the passkey
You're done :) Tokens will be paid out weekly depending on how you have done (click coin details at the top for more information) You can also go to the team statistic website to check up on all of your stats and the rest of the team. This site has lots of pretty graphs and analytics specific to the Folding@Home project. Enjoy earning a new kind of token and helping science at the same time!
Bitcoin and CounterParty donations to the project 1AT4PaBiQHYqVMb7P36kB1ratm5rGw1MnZ
- Bitcoin Tipping Address (This is not your LTBCOIN address): 1AT4PaBiQHYqVMb7P36kB1ratm5rGw1MnZ
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