FairCoin History

  • FairCoin was initially distributed through a vast airdrop process during the 6th and 8th of March, 2014.
  • An approximate 49,750 addresses were logged for the giveaway, each able to claim 1000 FAIR per hour.
  • Automated airdrop claiming methods had no effect, as each IP address could register once per hour, and 2 different captchas had to be solved. These security precautions were hidden till the day of distribution.
  • FairCoin's vast distribution method allowed a good portion of the cryptocurrency community to claim a little bit of the 50,000,000 FairCoins, each.
  • The algorithm FairCoin was using from then until mid-2017 was a hybrid of “Proof of Work” (PoW) and “Proof of Stake” (PoS).
  • PoS gave the chance stake FairCoins while holding in the wallet, with an interest rate of 6% in year 1, 3% in year 2 and 1,5% in year 3 after its creation.

FairCoin was abandoned at the end of April 2014 by its original developer; but not after promising huge projects, private investors, and much more. The FairCoin community was left to sit with unfulfilled promises, high hopes diminished, and a moral completely drained. A few leaders in the remaining community organized a new development team, consisting of some of the most devoted members.

From the initial community take over, a team of three committed individuals, was who gave continuity to the dev team, were: smartaction (Enric Duran), drakandar (unknown) and thokon00 (Thomas König)

Because the creator of the second ANN was not really involved, which was inefficient to have a good communication, we decided to close the second ANN at the same time of the First hard fork, and we created this third ANN, really accessible by the current FairCoin Development Team.

Updades from 2014:

Back in 2014, Mintpal was the only online exchange for FairCoin. Most of the coins from different users were stored there. The platform was promising an update from Mintpal V1 to Mintpal V2. After shutting down V1 the new version never went live and it became clear that certain people of the team took advantage of unique access rights. Wile some cryptocurrencies were lost, some were locked without access still in Mintpal V1. Here are the updates and the engagement of the FairCoin team to recover the FairCoin for the individual holders:

29/10/2014 The Mintpal form has been closed we will give you updates regards the Mintpal recovery soon

To all the FairCoin fellows who had or have yet their FairCoins at Mintpal!

We were talking with the Mintpal V1 team about how to redistribute the missing FairCoins, they don't have access to the Mintpal V2 system, but they have confirmed that Ryan doesn't control the FairCoins! Mintpal V1 is in control of the missing FairCoins and these are good news!

So we are going to help the Mintpal V1 team by requesting additional information to help to quickly set up a working withdrawal procedure.

lease fill in the form below to prepare a possible manual withdrawal. It is important to provide as accurate information as possible so we can correctly match it to your balance.

The form is open! https://chain.fair-coin.org/rt/mintpal-recovery.html

This form will be available only until Tuesday, October 28th at 23:00 GMT. Yours Enric Duran (smartaction) and Thomas König (thokon00)

29/10/2014 The Mintpal form has been closed we will give you updates regards the Mintpal recovery soon

17/11/2014 GOOD NEWS, FINALLY!!!

Mintpal V1 has sent the wallet.dat and user/ balances info to the faircoin dev team!

Now, we are in control of the mintpal v1 coins → https://chain.fair-coin.org/address/fFcy7XH7hY7o4BwaRgkFQVooM9m4dZGUwZ

Today we will begin withdrawals with the already filled forms, will ask adress to the other users, and will begin proceding with the next steps to recover the faircoin normality!

17-18-19-…. /11/2014

The mintpal coins are coming back to their owners

If you was a mintpal user, you did receive an email with the required steps to receive your coins on 18-11-2014 GMT

Here everyone can follow the mintpal coins being delivered → https://chain.fair-coin.org/address/fFcy7XH7hY7o4BwaRgkFQVooM9m4dZGUwZ

yet, lots of users pending of filling their form!


Please read carefully!

- Introduction we waited until we have more information, to make this statement. With the possibility to give us time enough to study the better strategy, for solving the problems that we relate below, without increasing the possibility for an hypotetical scammer to make unrecoverable the coins or sell for bitcoins. Now we think that this possibilities are reduced enough to make it public and require the collaboration of the faircoin community.

- how the situation of mintpal coins arrived to the hands of Faircoin development team

The Mintpal Wallet contained: 14946903.112935999408 FAIR

The balance of the account data counted: 21787698.41457512 FAIR

Faircoins withdrawed in mintpal v2: -243666,36021 FAIR

Coins missing: -6597129,30163912

- how we have procedeed the withdrawal of mintpal coins.

Smartaction had an account in mintpal of 9079874,833373 faircoin that belongs to a cooperative investment fund in benefit of different local projects. He decided to give the advantage to other holders to withdraw their coins first, and everyone had the oportunity to receive their coins and at least three weeks of time to do it.

Therefore the current 7174225,79808514 * in https://chain.fair-coin.org/address/fFcy7XH7hY7o4BwaRgkFQVooM9m4dZGUwZ will be withdrawed by smartaction and after this yet will be missing 6597129,30163912

1905649,03528786 from smartaction 4691480,26635124 unclaimed

  • after deduct 40973,05805086 claimed by [Suspicious link removed] that we have frozen until confirm the balance of this multipool with faircoin users.

    - Next steps++

After this, we need your help for finishing the analysis where the lost coins are, and confirm if we have data enough to recover it and if it makes sense to do it.

At the technical level Thomas has done a development to make possible to recover lost coins without changing yet nothing of the blockchain, therefore all depends if we are secure enough about what needs to be done, and if the comunmunity support our plan.

In fact, we have done already a lot of work this past weeks related blockchain analysis and we discovered that the first thesis that mintpal v1 told us does not makes sense enough. Therefore there is no proof that this coins are in the hands of Ryan/aleen green from moolah, at least not most of them.

An important proof of this is there are not enough unidentified coins in adress younger than march 31 (data of mintpal beginning) to cover this 6.6 M coins.

The most probably option is that Mintpal V1 suffered in the early days of faircoin in mintpal, (march 31 - april 8 ; when faircoin had unvoluntary hard forks) from a block chain fork, a bug or a hack. If this is true, they credited coins to the balance of users when they actually shouldn't have.

Well, now, particularly, what we want now is to confirm if the addresses with a big amount which are not identified, belong to anyone that is reading us, or if are stolen or lost. For this reason we have copied here this list of adresses:

(43 adresses older than 31 march not identified with more than 20000 FAIR)

Please PM smartaction if any of this addresses is yours and after you confirm your ownership we will update this list, and this will help us to finish our analysis. Please process your personal search as soon as possible in order we can advance to the next steps sooner.

Otherwise if you detected in the past specially first days of Faircoin in Mintpal, any irregularity when you made deposits in Mintpal (like no transaction appeared in the good blockchain, but the balance was updated in your mintpal account), let us know.

- After this

If we decide together on how to recover the confirmed lost coins. This will be distributed in this order to * smartaction pending coins * unclaimed coins that became claimed -only until december 31th, 2014 * projects and bounties to continue improving the faircoop and faircoin environtment

Yours Enric Duran (smartaction) and Thomas Konig (thokon00) Faircoin development team.


NEXT 1.5 FairCoin Wallet Release: CALL FOR TESTERS

see the complete statement and acces to the beta wallet here: http://fair-coin.org/faircoin-beta.html

The upcoming version of the FairCoin client software will be an important step for the Faircoin development!!

IT will not only be a hard fork release, it is in fact more like releasing a completely new coin. The existing block chain will been converted to make use of the much faster and proven SHA256 hash algorithm. This gives us 2 major advantages:

It is much easier to port existing software that was written for Bitcoin to the FairCoin network. E.g. The Bitcoin wallet for android, the Electrum Bitcoin wallet, libbitcoin, etc.

Much better performance! The scrypt hash algorithem that was used up until now is much slower compared to the SHA256 hash algorithm.

Also one important step will be the solve of the mintpal claimed coins problem with this new release

The new block chain will contain a special block that recovers about 4,000,000 FAIR that were freely distributed at the start of FairCoin back in March 2014 and have never been used since then or are simply lost.

Read the link for further information. Again: http://fair-coin.org/faircoin-beta.html

PLEASE, TEST IT, and share your experience here in this topic. (you could also test it with your friends, to send test faircoins from different wallets, and testing of multisignature feature)


FairCoin v1.5.0


This release contains some major changes to FairCoin. Our aim is to develop FairCoin further and prepare it for broad adoption. With the changes we've made to the code base the development of merchant applications, alternative FairCoin wallets and mobile applications now becomes easier and can be implemented faster. We have improved the performance of the FairCoin wallet significantly. The overall speed gain and still maintaining the same high level of block chain security is also a prerequisite to establish a reliable and stable monetary system for https://Fair.Coop.

What do you need to do

On thursday, the 26th of February 2015 at block height 94613 all versions older than v1.5.0 are obsolete and must not be used any more. It is best to avoid using the old wallet the entire day, although it is possible to use it until block 94613 occurred on the network. At around 19:00 - 23:00 UTC the new wallet will be available for download here: http://fair-coin.org/index.html#wallet

After you have downloaded the new release, please follow the guide below.

1. Make a copy of your wallet.dat file and store it at a safe place! Write down the FAIR balance that is displayed in your old wallet.

  1. If you haven't done yet make a copy of your wallet.dat file and store it at a safe place!
  2. If you missed step one and two, make a copy of you wallet.dat file and store it at a safe place!
  3. Now, after you made a copy of your wallet.dat file and stored it in a safe place, delete the entire FairCoin data directory
  4. Start the new wallet and let it download the new block chain. This takes about 10 to 30 minutes depending on your internet connection and your computers performance. (Your balance will NOT be displayed yet, so don't worry!) Also, you should not create a FairCoin.conf file, it is not needed.
  5. After your new wallet successfully synchronized to the network, stop it
  6. Copy your old wallet.dat file (you made a backup copy of earlier) to the newly create FairCoin data directory
  7. Start the wallet again and it will display your complete balance (if your balance differs from the one your wrote down please contact us at support@fair-coin.org)

    Please note that there will be timely gap of about 1 to 3 hours between the end of the old block chain and the availability of the new wallet version because we have to convert the hole block chain and build and deploy the new binary release. This means that the old and the new version can not be used at the same time, because the new wallet does not work on the old block chain and vice versa. Questions and support

    If you still have any questions or need support please contact our forum thread here or contact us directly at support@fair-coin.org.

    Further information with the technical details of the block chain conversion process here: http://fair-coin.org/faircoin-v1.5.0.html


Released http://fairtoearth.com https://bitcointalk.org/index.php?topic=702675.msg10735505#msg10735505


Released Faircoin wallet V1.5.1 Recommended upgrade. Maintenance release: https://bitcointalk.org/index.php?topic=702675.msg10851530#msg10851530


Released Faircoin Android Wallet. Beta version. https://bitcointalk.org/index.php?topic=702675.msg10930926#msg10930926


Faircoop Launches donation rush. 100.000 FAIR to the first 100 non profits that accepts faircoin donations https://fair.coop/faircoop-donates-100-000-faircoins/


Faircoop Launches Fairmarket alpha version on World Fair trade Day https://fair.coop/fairmarket-alpha-testing/


Faircoin development Team launch FairCoin 2.0 white paper. Proof of Cooperation (PoC) https://fair-coin.org/faircoin2 Discuss: https://fair.coop/groups/faircoop-community/faircoin/faircoin2/forum/

Faircoop Launches Coopshares plan and crowdinvestment campaign “to develop everything” https://www.coopshares.net


The faircoin dev team is already working hard with FairCoin 2.0. A more definitive whitepaper will be launched on march and after that the focus will be in the programming and extend the funding for making it happen.

  • Fairmarket Beta will be launched in march with full operability for buying/selling Meanwhile the alpha testing version has been updated in http://market.fair.coop


Launched Fairmarket Beta version, fully functional. http://market.fair.coop


17/05/2016 Launched Faircoin2 Crowdinvestment campaign. https://coopfunding.net/en/campaigns/faircoin-2-crowdinvestment

The first goal is to fund the Faircoin 2 development. FairCoin 2 will be an important blockchain-based innovation to allow the Faircoin blockchain to function, secured with ‘proof of cooperation’, and bring to the world a really functional alternative to the current unfair systems that are based on competition between nodes.

Special offer during 40 days with that campaign to get faircoin at 1 eur = 40 FAIR supporting Faircoin 2 development and the stability of faircoin ecosystem

Economic goal 40000 Euros.



Published faircoin 2 new white paper version, with all the details related to the current implementation !!

Read it here https://fair-coin.org/faircoin2.html

Comment it here: https://fair.coop/groups/faircoop-community/faircoin/faircoin2/

Code development here: https://fair-coin.org/faircoin2.html


Call for nodes: https://bitcointalk.org/index.php?topic=702675.msg16123035#msg16123035

We plan to launch the new blockchain based in proof of cooperation(POC), around final of september or beginning of october. One of the main characteristics of POC is that running the blockchain will become a task of the nodes which has proof that can be trustable by the network, for cooperate in the faircoin blockchain security. This proof process is what we call Certification. And then the nodes,becomes Certified Validation nodes (CVN)

Thats why we need to make this “Call for nodes”, before the launch. […]