Official guide to mining Foldingcoin (FLDC) for Team 32

[torin3]

VERIFIED WORKING!!

This guide is for Team 32, to show how to mine FLDC to help support our obsession and pay for the electricity and hardware costs.

There are two different coins that can be mined while folding. Curecoin and FoldingCoin. Curecoin requires you to be on their team, so we won't be doing that. FoldingCoin should be minable for any team, and pays out more than Curecoin most of the time as well.

There are currently only 2 exchanges that trade FoldingCoin. Poloniex and Bittrex As of the writing of this guide, Bittrex is not taking new users, and Poloniex is having some issues with some accounts. I would only transfer about 1/4 of your monthly payouts at a time to Poloniex until they get their support to an acceptable level.

The way this works is you have to first get a Counterparty Wallet set up. Go to https://wallet.counterwallet.io/# and click on the "Create New Wallet" button. It will create a wallet and generate a 'passphrase' for you. The passphrase is 12 random words. COPY THEM DOWN AND SAVE THEM!! If you lose them, you will not be able to get back into your wallet. Once you've done that, check the box that says you've saved your passphrase and continue. When you are logged into your wallet, there is an option to create a shortcut/favorite with a password. If you use that link to open your wallet, you can use a shorter password than the 12 word passphrase. If people have a hard time finding this, I'll go through the process and take screenshots.

Once you've created the wallet, the next step is you have to change your Folding Username. You can use whatever you want at the beginning, but then you need to have _ALL_(wallet address) to end it. For example, I'm using torin3_ALL_1K91apgu4f5M26DrYL79Mpa7dhVfmBx4Xo

So to be clear, the name you need to use is whatever you want, underline, ALL, underline, wallet address.

The downside for long term folders is you have to use the different name. If you use the same passkey, you can still track all your points folded by you. And that is what HayesK and I are both doing.

Now, at this point you should have created a wallet, and changed your username to the correct format.

Now...we wait.

FoldingCoin only pays out once a month on the first Saturday of the month. They will track all the points you get and allocate FLDC based on the amount of work you have done. Running 8 cards, mostly 1080Ti cards has been getting me about 27K FLDC a month.

Now when you get your coins deposited in your wallet, you'll need to get need a small amount of Bitcoin to actually transfer it out of the wallet. The less you use, the longer the transfer is likely to take. My recommendation is to buy a small amount of Bitcoin at Coinbase and then transfer it into your Counterparty wallet. After the first time, when you exchange your FLDC for Bitcoin, save a little bit and send it back to the Counterparty wallet for future transactions.

FoldingCoin uses the Bitcoin blockchain for its transactions, so you will have to deal with the fact that Bitcoin transactions run on the slow side.

EDIT: Poloniex delisted FLDC. Bittrex is the only choice now.

EDIT: Bittrex delisted FLDC, current working exchange:

https://www.chainrift.com/

 

[torin3]

This is what your wallet should look like once it has been set up. You won't see a counter for FLDC until there is a deposit. And if you empty it out, the counter will go away again. But you will always have the BTC and XCP counters.

View attachment 196210

 

[torin3]

I'll post my numbers later, and they bounce around depending on the network, but It looks like if you don't mind waiting a block or two (usually about ~15 min per block) you can pay less than $1 for your transfer. And they don't seem to base it by the size of the transfer.

Here is a FLDC production and profitability calculator. Just ignore the curecoin portions:
https://curecoin.net/merged-folding-profit-calculator/

You need to get your PPD line filled out, and then the Foldingcoin difficulty. They say use the Curecoin Team's PPD as a proxy, since it is hard to find out directly. However it will actually be a bit higher (and get even higher as more people participate outside curecoin). Then you need to get FLDC to USD price (they have a link to a chart) and then it will fill in the rest of the information for you automatically. You can also add in your electricity costs for a more accurate profit calculator.

Link for FLDC to USD pricing: https://www.coingecko.com/en/price_charts/foldingcoin/usd

 

[Robert17]

Can a Curecoin wallet be used, or are wallets exclusive to a particular 'coin'?

 

[torin3]

Can a Curecoin wallet be used, or are wallets exclusive to a particular 'coin'?

Curecoin uses a software wallet as opposed to the online Counterparty wallet used for FLDC. But unless you are folding for the Curecoin team, nothing will get deposited in the Curecoin wallet.

 

[torin3]

Things that you can do now to prep that won't change, and doesn't cause problems if the mining doesn't work:

Setting up a Counterparty wallet.

Setting up an account at Poloniex or Bittrex (Bittrex still not allowing new accounts).

 

[]-[itman]

I already have a Poloniex account so I'll switch to this on a single 1060 and see how it goes.

 

[the_cultie]

My recommendation is to buy a small amount of Bitcoin at Coinbase and then transfer it into your Counterparty wallet.

How much would you recommend buying?

 

[torin3]

How much would you recommend buying?

I'd say that you'd possibly want to have at least .001 BTC in there, and you need some for the transfer fees to get it there, so I'd buy about .002 which is currently roughly $23 right now. You'll be able to get your FLDC sent to an exchange for sure, but it may not be the fastest transfer.

Since my payouts have been pretty much the same, I'm not sure how much that will affect the transfer fee based on the amount you are trying to transfer.

Sorry I don't have more concrete answers.

When I receive my next payout, I'll post the numbers for the fees.

Oh, and in checking on this, I see I finally got my funds from the 6th of January. Looks like Poloniex is starting to catch up.

 

[torin3]

I see 3 new username + wallet address users in the team stats.

So on 2/3 when the next payout hits, we should have 5 chances at confirmation that this works.

Got my fingers crossed, but I'm also not expecting any problems.

Edit: Also, with 27,896 FLDC, I was able to cash it out for about 0.103 BTC and after fees, that was $1152. Not bad for 8 cards in a month.

This is with BTC @ $11300 and FLDC at about 0.00000365 to 0.00000360 BTC. (Running the numbers, I think they also paid out my test transaction as well, which was 700FLDC, so yay Poloniex, even if they didn't report it as a separate transaction.)

If all the details is boring people, let me know and I'll stop.

 

[superducky]

Nope, keep the updates coming, please, torin!

 

[the_cultie]

I'd say that you'd possibly want to have at least .001 BTC in there, and you need some for the transfer fees to get it there, so I'd buy about .002 which is currently roughly $23 right now. You'll be able to get your FLDC sent to an exchange for sure, but it may not be the fastest transfer.

Since my payouts have been pretty much the same, I'm not sure how much that will affect the transfer fee based on the amount you are trying to transfer.

Sorry I don't have more concrete answers.

When I receive my next payout, I'll post the numbers for the fees.

Oh, and in checking on this, I see I finally got my funds from the 6th of January. Looks like Poloniex is starting to catch up.

That is great information, thank you very much. And keep the updates coming, the more information the better. I am considering switching my small operation this week.

 

[petteyg359]

Got $20 of Curecoin, then moved back to 32. Will see how this works instead. Would be nice if Stanford combined stats by passkey just for ease of looking at them, but oh well.

 

[torin3]

Looks like previous payouts happened between 11am and 11pm EST. So until it hits 11pm, I wouldn't worry about whether or not you get results.

 

[torin3]

Verified. I only got 24K instead of 28K, but that is probably due to an increase in users. But if I didn't get paid for my points for Team 32, it would have been only about 12K.

So, Verified! I'll update the first post later today.

Can anybody else who was trying this confirm that they got paid?

 

[unsafesteagle]

Yup Verified!

Not much time with the new username and not enough deposit to cover a transfer/send fee from out of the counterparty wallet.
Very encouraging.
TKS

 

[]-[itman]

I did get paid today as well. If the numbers on extremeoverclocking stats match up with what points they counted in the roughly 5 days I was folding under the new name, then I made ~194 folding coin in just over 5 days with a single GTX 1060 6GB.

At the current conversion rates, that is about $5.60. Extrapolating out for the month at an average of 300K ppd on the 1060, that would be $34.85 per month.

So if anyone is interested in seeing how much they could make, it comes out to be 164.5 foldingcoins per 1M points. At today's rate it is $3.87 per 1M ppd is your daily income*.



*Once again, this is based off of just 5 days and I don't know if foldingcoin counted the points the same as extremeoverclocking, but it should at least be a rough estimate. Also, rates can and do change all the time.

 

[petteyg359]

Got 90-and-something FDLC for the few days in January. Currently only folding 24/7 on a E3-1230 with no GPU. I try to keep the client running on my desktop with 5930k and Vega FE, but I keep accidentally shutting it down at night Using it for games during the day surely doesn't help the folding progress either.

 

[HayesK]

Looks good for me too. 48K FLDC from the T32 farm running since Jan 12 and some "space heaters" running at CURE since Dec 17.

 

[unsafesteagle]

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