Indeed, Salim, thanks for your help!

POWC has paid out its first distribution early this morning, check it out and you should have your share for the previous 9 days. POWC will now move to every Saturday, so next Saturday you should receive some more

We could go to less frequent payouts, but we wish to avoid that. If we start running low we will simply have to, but i do not forsee that anytime soon. We do not want to take any off of the top, that is something we have discussed in detail that we do not want to be in our coins model.

However we do have a solution call the off chain distribution system. Its something in the works and to be honest we haven't begun developing it yet because we have been working on things we think are more important, but what it basically will do is act like a mining pool where your FLDC is held there until you the folder decides to withdraw it. Then instead of a traditional 1% mining pool fee, we simply have you the donor cover the 0.00016 BTC current transaction cost associated with transferring CP assets. So then we basically move the fee off of us and onto the donor. Its only like 10 cents for a donor to withdraw their own funds, but its very expensive for us to send them out to everyone.

The transaction details are found on http://foldingcoin.net/distribution/ but the distribution server is currently down. We are waiting for an update from LTB to get it running again. I will post here once that occurs. Follow us on twitter @foldingcoin for live updates

up to 3 now... your going to run out of coins pretty quick at this rate!!!

Edited the layout a bit

what we need is for scientific researchers that have immediate need for folding to buy some foldingcoin. and pay folders directly to fold for their specific project!!

both
to help science, and get very wealthy while doing so i wish for all of us.

First off I will start updating distribution issues here as well as twitter. When things happen with the distribution I always post on twitter - @foldingcoin

So we had another issue with the distribution server. The last time this happened was on Merged Folding launch. It just so happened to be the same day that Counterpartyd made a new update. Since the counterpartyd update, the distribution server needs a bug worked out of it. This is only the second time it has happened, but basically it pays certain addresses double amounts. On the 5th it was anyone who received less then 300 FLDC got double payments. So when this happens, the distribution address eventually runs out of FLDC. When that occurs, it will pay a few people 0 FLDC, but then the distribution server recognizes that no funds are actually there anymore and stops the distribution.

This time, the top 17 Folders received double payments, which then made the distribution run out very quickly. We still owe 233 payouts and we are going to process those as soon as we can. So here is whats going on:

• Nick the developer of the distribution server is on leave right now, but he is in communication with me during this issue (he has great dedication). He has given me elevated admin rights to the distribution server to freeze the distribution should this happen again
• We have sent a reimbursement FLDC amount to the new distribution address found here http://blockscan.com/address?q=12SGuMmuxXLE4YRyxSLE43oEwYRKxNMKz1 and the funds will push out tonight once the issue has been resolved
• When nick gets back to the hotel he is going to look over everything to make sure the distribution will push again with no issues
• The distribution is done at 4am by me and no one else is awake at that time. So if this happens in the future (until Nick finds the bug) I can manually stop this from happening again
• just so you get an idea how the distribution system works, here is a video i made that shows you what the asset distributor does https://www.youtube.com/watch?v=vXpWEH5mS2o
• The folks at LTB do a great job developing this software and counterpartyd can be a nightmare to deal with sometimes (remember masterxchange?) Please be patient when these issues occur as Nick is a very dedicated dev who spends countless hours working on this stuff
• we have a record of everyone who missed the payments this time and we will reimburse this out of our pocket, and not the undistributed FLDC
• Counterparty is still new, but its such a great technology that these growing pains are worth it

As always you can email me directly or post here with any questions or concerns rross@foldingcoin.net Thanks!
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Thank you for the kind words We are working on it as we speak right now. Payments should go out tonight still as planned and the reimbursements should go through as well.

Thanks Folders