Cryptocurrency Fortune1Coin announces listing onCoinsBit and VinDAX exchanges, as well as future mining opportunities on smartphones and tablets. Developers report a growing popularity of the project, but at the same time they say that they do not offer the market technical know-how or unique solutions. Therefore, we decided to find out the success factors of FT1 from the co-founder of the project, Til Koch.
- Fortune1Coin is run by miners, not speculators. Today, such a mechanism is a unique market phenomenon. How did you manage to achieve this?
- Fortune1Coin originally It is aimed at the general public, and not large miners, a key feature of the project is the natural increase in the value of the coin without external manipulation.
The bottom line is that we decided not to participate in the "raceweapons of hashing algorithms ”, and use well-known protocols, algorithms and proven methods of Internet promotion. The most important innovation is the cryptocurrency market model itself.
As you know, the rate of coins depends on the balancesupply and demand. Therefore, the Fortune1Coin blockchain itself was originally built with an affiliate program. Miners attract other miners and thus form their own three-level network, which brings them up to 9% of the income from the total production of the network they created. The affiliate program contributes to the natural growth of the coin’s popularity, as it allows attracting well-known headliners (media, bloggers, vlogers, etc.) to this process.
The popularity of coins is a key factor shaping demand these days.
In addition, FT1 mining is only possible in the pool.the project itself, and emissions are limited to 480 blocks per day. Due to the lack of competition between pools, the reward is always distributed among all participants in the process, regardless of how many they are and what devices they use. Thus, when the reward is divided, for example, into 100,000 or even more than 1,000,000,000 miners, then each individual participant simply cannot bring a significant amount to the market.
As a result, the sale of coins is delayed,supply is declining amid rising demand, therefore, the price is rising, which attracts new participants (both miners and investors). This causes a multiplier effect and a cyclical increase in the rate exponentially as far as the market capacity (liquidity) allows.
Thus, it becomes clear that the moreminers in the pool and the more popular (coverage of the affiliate program) coins, the higher its value in the market. Accordingly, each miner can become an investor (especially at the start of sales), and each investor, participating in mining, automatically increases the profit from his investments.
- But why do you need to start mining right now?
- Now is the best time to launch the FT1 miner (included in the distribution kit), because these are the last days when your old laptop or PC can mine at least any significant amount of coins.
After the launch of the mobile miner, we expecta new influx of miners from Asia and South America. There are billions of active smartphone users in these regions who are interested in making extra money.
There are about 1000 miners in the pool and on averageYou can get from 30 to 100 coins for each block. After the listing announcement in the CoinsBit and VinDAX communities, the number of miners will increase significantly and the reward for each one will sharply decrease. The rest will either have to enter the mining arms race, or, logically, join the ranks of investors.
- You talked about the unique market model of the project, but what technical features of cryptocurrency attract investors and miners?
- As a basis, we took the Bytecoin blockchain model andIntegrated an affiliate program in it, which allows each miner to invite new participants. To do this, you need to get a unique link in the coin wallet, and then send it to friends, post on social networks or use any other legal promotion methods. Rewards are paid for 3 levels of attracted miners:
- 5% of the amount of mining partners directly attracted by you (i.e. 1st level partners);
- 3% of the amount of mining partners attracted by your partners (i.e. 2nd level partners);
- and 1% of the mining amount of participants of the 3rd level.
In addition, there is an opportunitycooperative mining, which allows you to get coins to several participants at the same time. Unlike the pool of most popular coins, even owners of weak computing devices can receive a reward.
- That is, the affiliate program is sewn into the blockchain itself?
- Right. That is why remuneration is calculated and accrued by the system itself. However, miners always pay 9% of the commission on income that goes to payments to members of higher levels.
Among the features can also include the fact thatall payments on the Fortune1Coin network are anonymous, with the exception of mining payments, so that they can be verified. Each coin consists of 1 million cents. The disclosure of new blocks occurs approximately every 3 minutes with the payment of ~ 35,000 coins (excluding affiliate 9%). Difficulty is reviewed after each block.
- What about further plans for the development of the project? Can you briefly talk about the upcoming innovations?
- After adding Fortune1Coin (FT1) to CoinsBitand VinDAX, we plan to release a light version of the wallet, improve the block explorer, localize the wallet in various languages (including Russian), and also prepare for the hard fork, which will make the coin a full-fledged payment tool (that is, money).
All these improvements will be additionallystimulate increased demand, which will lead to another increase in the rate of the coin. Those who wish can still manage to join the production at an early stage and learn more about the project on the official Fortune1Coin website.
In general, the future is near, do not miss the moment!
talked: Ivan Malichenko, photo: Unsplash