Infinitecoin – General Info, Best Exchanges and Wallets

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Recommended resources: CoinMama (Buy BTC and ETH) and Ledger Nano S (Hardware wallet).

Infinitecoin (IFC) was created in June 2013, and has one of the largest coin counts around. This wide distribution of coins is one of its biggest strength. With wide global distribution, super fast transaction times, and circulation volume that beats some of the top 5 coins, Infinitecoin has plenty of room to grow!

Infinitecoin was created as an alternative to Bitcoin and other popular cryptocurrencies, because the creators of Infinitecoin believe that the mining out of currencies with low coin numbers will cause a dangerous upswing in their value, moving them out of the reach of the average consumer. Those who share this fear have put stock in Infinitecoin and other high-coin currencies, because the future of those coins is more secure and more stable than that of Bitcoin and others. While altcoins may be slow to gain popularity and users, they present a good, safe supplement to the online market, an important factor in the years to come.

 

 

FEATURES.

De-centralized.

Cryptography and the de-centralized nature of IFC is the key to Infinitecoin’s success. It’s the reason that no one can double spend, counterfeit or steal IFC. Infinitecoin is designed to be viable money for both current users and future adopters; it’s developers intend to maintain, improve and legally protect the integrity of the protocol to ensure this. You only have to look at the US banking crisis 2008 to see what can happen when centralized control takes over.

 

Infinite coin. Not infinite at all.

Infinitecoin is a misnomer. It refers to the number of coins out there (90.6 Billion) which is very high. It’s not infinite at all. It’s very much limited edition. It was one of the first coins to realize the importance of keeping inflation under control.

 

IFC is controlled by its users.

The IFC network is configured so that no one central point has control, it’s controlled by the entire IFC mining community always checking each other’s work to ensure no-one is corrupting the block chain. This provides intrinsic security for the network.

 

Infinitecoin’s global distribution.

What sets IFC aside from other crypto-currencies is it has one of the largest coin counts, totaling 90,600,000,000 post mining and it will be one of the first to be completely mined out. The distribution of IFC is one of the reasons IFC remains so strong but the imminent mined out future is also of great importance, none of us will survive to see the mined out future of Bitcoin and many other cryptos and it’s already becoming apparent that the small volume of bitcoins will force it to be priced very quickly out of the reach of the average consumer.

 

Advanced check pointing.

Infinite coin uses an advanced check pointing system that limits the effect of 51% attacks, and makes recovery much faster and simpler. The block chain is regularly monitored by the developers and regular checkpoints issued. This helps keep the network secure. A warning message is displayed in the client if issues are detected, warning users to postpone transactions until the network is secured.

 

 

 

BLOCKCHAIN PARAMETERS.

  • 30 seconds block target.
  • Initially 524,288 (2^19) coins per block, halves every 86,400 blocks.
  • Difficulty retargets every block, with accelerated retargets at the beginning.
  • 3 confirms per transaction.
  • Total about 90.6 billion coins.
  • Scrypt Proof-of-Work.
  • Inflation: So far 99% of coins have been issued, and the block rewards keep being halved with no intention to stop, inflation is less than 1% and will be effectively 0% in due time.
  • Transactions under 100 IFC will have a fee of 200 IFC. Transactions under 10,000 IFC will have a fee of 100 IFC.

 

 

INFINITECOIN (IFC) OVERVIEW.

INFINITECOIN IFCCoincapmarket ranking: 224.

Current coin Value: $0.000085 (-0.59%).

Market Cap: $7,737,973.

24hr volume: $966,387.

Circulating Supply: 1 90,596,274,910 IFC.

(As of 3/9/2017).

 

The algorithm used in this cryptocurrency network is similar to LiteCoin; however, coin volume of this digital currency is greater than LiteCoin i.e 1142.86 times as many coins as Litecoin. Infinitecoin and Litecoin use scrypt hash function for proof-of-work. This is different from Bitcoins which use another function called SHA-256.  Also, the Infinitecoin network adjusts mining difficulty every hour.  For Bitcoins and Litecoins mining difficulty remains the same for longer periods of time then changes rapidly. This means that it is already very difficult to mine for Infinitecoins.

 

Exchanges.

  • Allcrypt: IFC/BTC.
  • Bleutrade: IFC/BTC.
  • Bter: IFC/LTC.
  • Coins-E: IFC/LTC.
  • Comkort: IFC/LTC IFC/BTC IFC/DOGE.
  • Cryptex: IFC/LTC.
  • Crypto TC: IFC/ALL LISTED COINS.
  • Cryptsy: IFC/LTC IFC/BTC.
  • EaseCoin: IFC/CNY.
  • Ecoin Fund: IFC/BTC.
  • FullCoin: IFC/CNY.
  • Jubi: IFC/CNY.
  • News Coins: IFC/CNY.
  • NiuBTC: IFC/CNY IFC/BTC.
  • Poloniex: IFC/LTC.
  • Swisscex: IFC/LTC IFC/BTC IFC/DOGE.

 

Wallets.

The Infinitecoin wallet allows you to send or receive Infinitecoins. You should make sure you always have the latest version of the wallet client. The source code is available at GitHub.

To set up your IFC wallet, you will need to download the latest IFC client. Once you have downloaded the client, you’ll have a few hours of syncing to catch up with the network block history. The time to complete this step will vary based on internet connection speed, and computer processing speed. This step is required in order to start sending/receiving payments, as well as mining.

Wallet downloads:

  • Windows: https://www.dropbox.com/s/py8e24h59x6dk8p/infinitecoin-1.8.8-win32.zip
  • Mac: https://www.dropbox.com/s/gfr8jql1fbbcef2/Infinitecoin-Qt-1.8.8.dmg
  • Linux: https://www.dropbox.com/s/n3g1fbo6h6zf89l/infinitecoin-1.8.8-linux.tar.gz
  • Androis: https://play.google.com/store/apps/details?id=de.schildbach.wallet.infinitecoin

 

Mining IFC.

Mining infinitycoin IFCDue to the current IFC mining difficulty, it is highly recommended to not mine using your CPU (Processor) because of the stress that will be put on it. Please only use an ATI GPU (Graphics Processing Unit) for maximum results. NVidia graphics cards can be used, but will not achieve high hashrates. Also, please have sufficient cooling. Your video card will reach high temperatures while mining. To get started please follow the steps below.

 

  1. Download the latest drivers from the AMD website.

http://support.amd.com/en-us/download#

  1. Download CGminer 3.3.4.

https://github.com/kanoi/cgminer-binaries/tree/master/3.3.4

Make a folder on your computer, and extract the files to the new folder you made.

  1. Choose a pool to mine IFC & sign up. The available pools include ifc-pool.com, ifc.livechains.net, ifc.cryptomp.com, coin-base.info, global-pool.com, CoinEx.pw and more.
  2. Set up your worker.

After you find an IFC pool and have signed up, you will need to set up a worker. Most pools already have one worker auto generated, this is usually username: – yourusername.worker and password: – password. It is best to fill in each box with something you can remember. If you have two mining rigs, it is recommended to have a worker for each mining, rig for better monitoring.

  1. Setup CGMiner.

Go to the folder that you extracted CGMiner to, right-click, and select “New Text Document”. If you don’t see the file extension (.txt) at the end of the new file like “New Text Document.txt” you have to change your folder options. Press the “ALT” key to open the folder menu. Click on “Folder options”, and click the “View Tab”. In the list below, uncheck “Hide extensions for known file types”. Click OK.

 

Now, you can rename the new text document you just made ifc.bat. Right-click on ifc.bat and select “Edit” The example .bat file below will help you get started. Please copy and paste the code below into your ifc.bat file.

ifc cryptocurrency miningThe pool you chose should have a “Getting Started” section once you have logged in. This will show you the URL and port to use to connect to the pool. Please replace the info in the example.bat code above, with your own. You can also find other GPU miners settings here. https://litecoin.info/Mining_hardware_comparison#AMD_.28ATI.29 Find your graphics card on the list to see settings other miners are currently using.

After you have your settings configured please click “File” and then click “Save”. Next, your ifc.bat file must be in the same folder you extracted the CGMiner files to. Now just open the ifc.bat file, and you are ready to start mining!

 

 

IN CLOSING.

Infinite coins could have a strong future.  It has a wide distribution, a hard line on inflation and is well within reach of the average consumer’s budget. This gives Infinitecoin the potential to become one of the top Ecoins for small purchases in stores ( a few dollars). This is potentially a HUGE global market.

IFC merchantsAnd with its impending mined-out future, it’s will be difficult to get Infinite coins by mining.  You pretty much have to buy them on the open market.  This makes Infinitecoins harder to acquire and rare compared to other Ecoins like Bitcoins and Litecoins.

Getting in early on Infinitecoin, while you still can, would definitely be a smart move.

 

 

[currencyprice currency1=”IFC” currency2=”usd,eur,btc”]

 

[currencygraph currency1=”IFC” currency2=”usd”]

2 COMMENTS

  1. Hey thanks for sharing this man, I’ve just started mining a few days ago. I’ve been using Minergate software on my phone and its a huge learning curve for me. Is there a place I can go to properly learn all this stuff? I want to use CPU mining just because of the convenience and I am thinking of using my gaming computer as a dedicated mining unit. Here are the dimensions….do you know what’s the max Hashrate I can get?

    Processor is AMD A8-7600 3.10 GHz, 4 CPU and 6 GPU cores
    Graphics – AMD Radeon R7
    RAM – 16GB DDR3
    Hard Drive – 2TB

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