Author Topic: i love... forging!  (Read 35104 times)

Kalipo on: July 05, 2014, 12:07:42 PM

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Hey guys,


just want to say... forging is amazing!
i made around 3400 fimk per day with forging.

this are around 12$ at a fim price to 0.0000065

more than 350$ in a month.


i love forging.

just want to say that!

bluedot #1 on: July 05, 2014, 12:44:11 PM

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Same goes for me too!

Even if the price would stay at IPO level (~0.0000015 BTC/FIM) I would more than double my investment in one years time at the current forging rate!

Spread the word! Let's all make this coin a big, big success!
FIM-SCB8-LEPH-WWFH-9K7GR

Eliphaz Fimk #2 on: July 05, 2014, 01:02:46 PM

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Could one of you guys do me a favour and get me the contact point for coinwarz.com, or let them know that their coin submitting form needs a revamp because it doesn't support NXT based coins nor DGEX traded coins. Reward will follow for thr helper when FIMK eventually is added. Thank you!

BTW the best part is that the profitability of FIMK forging will not drop even if a million forgers come in...

Sijoittaja #3 on: July 05, 2014, 01:16:59 PM

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Forging (taonta) is a king. Mining (mainaus) is a clown.

Forging is way more better than buying asic miner from away overseas, waiting for delivery. Rising difficulty, aww now you have a expensive tool. Be happy with that or sell that away for dump price.

Bitcoin network have tons and tons of hashing power, still some instances have near 50% of hashing power.  8)

ps. I still like bitcoin too :)

bluedot #4 on: July 05, 2014, 02:48:09 PM

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Could one of you guys do me a favour and get me the contact point for coinwarz.com, or let them know that their coin submitting form needs a revamp because it doesn't support NXT based coins nor DGEX traded coins. Reward will follow for thr helper when FIMK eventually is added. Thank you!

The only contact information I see is the contact form itself: http://www.coinwarz.com/contact
Maybe provide a link to FIMK resources there? Together with some basic example calculations of the profitability?

And do not forget to add:
The mining profitability works as in "compounded interest", so the reward gets bigger and bigger over time, if I do the calculation then (with the current forging rate), in only 308 days... you will have ~4x your starting amount!
FIM-SCB8-LEPH-WWFH-9K7GR

Kalipo #5 on: July 05, 2014, 03:07:12 PM

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The only contact information I see is the contact form itself: http://www.coinwarz.com/contact
Maybe provide a link to FIMK resources there? Together with some basic example calculations of the profitability?

And do not forget to add:
The mining profitability works as in "compounded interest", so the reward gets bigger and bigger over time, if I do the calculation then (with the current forging rate), in only 308 days... you will have ~4x your starting amount!

can you create an excel file for that? you will get 5k fimk for that.

bluedot #6 on: July 05, 2014, 05:01:54 PM

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Ok, I did an example calculation. It can be viewed here:

https://docs.google.com/spreadsheets/d/1UlwziOljobc3ro9p-Cdr6YsqCiwvoTQsWHsQWE-3HSc/edit?usp=sharing

Does this give enough insight?



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id-entti-tentti #7 on: July 05, 2014, 05:59:16 PM

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Thanks for the insight. Very steep exponential interest curve indeed, and that makes me a bit worried. Worried because the real value of any currency is it's purchasing power in real economy, and for a currency to function in real economy and not just as means of financial speculation and profit-making it is needed out to carve careful balance between initial profit making motivation (win-lose game) and need for socially just and well functioning purchasing power in real economy (win-win game).

How FIMK playes out after the initial 4 years remains to be seen, but it could be wiser to set the transaction fee as percentage rather than fixed number.

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bluedot #8 on: July 05, 2014, 06:35:31 PM

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Note that I think that the current forging rate will drop to a lower value in the longer run, the current rate is based upon only 2-3 days of observation, and I have the impression that not many people are forging currently.

I agree that the real value of the currency will be in the usefullness in every day use, but that will come in the longer run, once real-world services are added, more and more people will add to the network effect. But that will take at least 6 months or longer is my guess. (And we need an active community for that, on all fronts!)  :)
FIM-SCB8-LEPH-WWFH-9K7GR

id-entti-tentti #9 on: July 05, 2014, 07:13:14 PM

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Note that I think that the current forging rate will drop to a lower value in the longer run, the current rate is based upon only 2-3 days of observation, and I have the impression that not many people are forging currently.

I agree that the real value of the currency will be in the usefullness in every day use, but that will come in the longer run, once real-world services are added, more and more people will add to the network effect. But that will take at least 6 months or longer is my guess. (And we need an active community for that, on all fronts!)  :)

I fully agree with the need for active community on all fronts.

But giving more thought, thinking from whole to parts, your numbers don't add up. Suppose the initial 333'000'000 is divided equally between stake-holders, each with share of 100'000 FIMK adding up to 3'330 forgers. 3330*1244906=4'145'536'980 FIMK; over four times more than the currency cap of 1'000'000'000. There are of course many factors in play, how they all function together goes over my head.
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bluedot #10 on: July 05, 2014, 07:29:56 PM

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But giving more thought, thinking from whole to parts, your numbers don't add up.

I know, and that's why the current rate will drop.

Currently there is a maximum of 333 314 000 FIMK forging, as I understand it, from 1-Oct-2014 onward, 313 000 000 FIMk will be slowly distributed to Finish nationals, during 4 years, so more FIMK will be forging then... (maybe tonight I'll add a worst case senario).

In any case, these first few months are the most profitable, in terms of numbers of coins forged! ;)
FIM-SCB8-LEPH-WWFH-9K7GR

Kalipo #11 on: July 05, 2014, 08:10:26 PM

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i see from my earnings that not so many are forging.
i calculate over 3600 fim per day for me..  in the next hour i will beat the 6000 forged fim.

in 24h.


@bluedot thank you ! if you pm me your adress.. i will send you those 5k :)

bluedot #12 on: July 05, 2014, 10:27:19 PM

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Added some more calculations on sheet2:

https://docs.google.com/spreadsheets/d/1UlwziOljobc3ro9p-Cdr6YsqCiwvoTQsWHsQWE-3HSc/edit?usp=sharing

- lower forging rate (all FIMK now forging)
- added some distribution numbers based (2% of population opt-in, all are forging, all distributed FIMK added in one amount)

After total reward period you now earn ~2x your initial balance. All calculations are "back-of the envelope" of course!
FIM-SCB8-LEPH-WWFH-9K7GR

Sijoittaja #13 on: July 05, 2014, 11:27:03 PM

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Added some more calculations on sheet2:

https://docs.google.com/spreadsheets/d/1UlwziOljobc3ro9p-Cdr6YsqCiwvoTQsWHsQWE-3HSc/edit?usp=sharing

- lower forging rate (all FIMK now forging)
- added some distribution numbers based (2% of population opt-in, all are forging, all distributed FIMK added in one amount)

After total reward period you now earn ~2x your initial balance. All calculations are "back-of the envelope" of course!

Like your calculations 2nd sheet. I donated to you 10 FIMK and 1000 firstasset for testing. Only bad thing was assumption tha 2% of finnish people will adopt this, I think maybe about 10000 people will op-in.  You should make calculation that 75% is forging and 50%
« Last Edit: July 05, 2014, 11:35:20 PM by Sijoittaja »

id-entti-tentti #14 on: July 05, 2014, 11:56:45 PM

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Only bad thing was assumption tha 2% of finnish people will adopt this, I think maybe about 10000 people will op-in.

Why so low estimate?

If free FIMK money becomes popular with 15+ schoolkids through word of mouth, social media etc., why wouldn't most of them op-in? And those kids could get many of their parents to op-in...
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