About Ferrite Core
From page 3 of Ferrite Core Whitepaper - under review
Utilitarian
Common metal intended to be used as "bad money" under Gresham's Law.
Low value allows for cheap entry
Ferrite is to Litecoin's silver and Bitcoin's gold.
Plentiful yet rare supply
Total supply is 60.22m which is ~3x larger than Bitcoin's 21m but smaller than Litecoin's 84m.
Practical
Block time where block latency is negligible yet transactions are confirmed fast.
Most coins have overly inflated prices and therefore a high barrier to entry.
A desire to create a faster, better coin which addresses the challenges brought about by low confirmation times.
To learn and experiment with cryptocurrency without worrying about the finances.
To create another coin with a fair start and zero premine.
How is funding raised without a premine/instamine? What is in it for you?
A premine/instamine is not necessary to obtain a large holding. As the first person to start this coin, I have the benefit of being the earliest to collect coins while the cost is low at an early stage.
A 1% stake in circulating supply could be obtained for $20 since Nov 2022 as of now (17 Mar 2023). When a coin is newly listed, most users will sell their coins to obtain revenue, reducing the price. A large stash can then be obtained without resorting to premining.
Gresham's law – economics. Encyclopædia Britannica. Retrieved 11 Nov 2022.
Litecoin Whitepaper. Litecoin Foundation. Retrieved 11 Nov 2022.
"Gresham's Law". Investopedia (8 Feb 2023), Robert C. Kelly. Retrieved 14 Nov 2022.
It has often struck our notice that the course our city runs
Is the same towards men and money. She has true and worthy sons:
She has good and ancient silver, she has good and recent gold.
These are coins untouched with alloys; everywhere their fame is told;
Not all Hellas holds their equal, not all Barbary far and near.
Gold or silver, each well minted, tested each and ringing clear.
Yet, we never use them! Others always pass from hand to hand.
Sorry brass just struck last week and branded with a wretched brand.
So with men we know for upright, blameless lives and noble names.
Trained in music and palaestra, freemen's choirs and freemen's games,
These we spurn for men of brass...
The Frogs
by Aristophanes (405 B.C.E.)