Question 1

What is the current price of Freicoin?

Accepted Answer

The current price of Freicoin (FRC) is A$ 0.02079712. In the last 24 hours, the price has increased by +0.00%.

Question 2

What is Freicoin and how does it work?

Accepted Answer

Freicoin is a unique cryptocurrency that is designed with a focus on creating a different type of economic model. It does this through a concept called demurrage, an economic term referring to a persistent decrease in the value of currency over time. Freicoin, in practice, loses approximately 5% of its value each year with this destroyed money being permanently taken out of circulation. However, to maintain a stable supply, an equal amount of freshly minted Freicoin is created and introduced into the system. This mechanism intends to stimulate spending and investment rather than hoarding, aligning the incentives of bankers and financiers with those of the larger community.

Question 3

Who is behind Freicoin?

Accepted Answer

The information regarding the exact founders or team behind Freicoin is not provided. It's always recommended to do thorough research and get to know more about the team behind a cryptocurrency before engaging in any transaction. You can find more information about Freicoin on its official website: freico.in.

Question 4

What makes Freicoin unique?

Accepted Answer

The distinctiveness of Freicoin comes from its demurrage feature. Traditional cryptocurrencies tend to encourage hoarding due to the potential for price appreciation over time. Freicoin, on the other hand, is designed to discourage hoarding as its value decreases by approximately 5% each year. This lost value is not transferred or redistributed, but permanently removed from supply. To balance, an equivalent amount of new Freicoin is created. This mechanism stimulates economic activity by encouraging spending and investment, making Freicoin a unique player in the crypto market.

Question 5

What is demurrage and why does Freicoin use this model?

Accepted Answer

Demurrage is an economic concept where the value of currency decreases over time. This mechanism is designed to encourage spending and discourage hoarding of money. The value of Freicoin decreases by approximately 5% annually, basing on the demurrage model. By doing so, it incentivizes spending and aligns the interests of the entire community, creating a more active and liquid economy.

Question 6

What is the total supply of Freicoin?

Accepted Answer

The total supply of Freicoin is 100.0M, with a circulating supply of . Remember, due to Freicoin's unique demurrage feature, destroyed coins are permanently removed from circulation but an equal amount of new coins are minted to maintain the supply.

Question 7

How can I buy Freicoin?

Accepted Answer

Freicoin can be purchased on the current Bter, Cryptopia where it is listed. Always ensure to use legitimate and secure exchanges when buying cryptocurrencies, to protect your investment.

Question 8

How is Freicoin's market position?

Accepted Answer

Freicoin currently ranks at #1 in terms of market capitalisation which stands at A$ . The 24-hour trading volume is around 1.1.

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