"FAIL is a peer-to-peer cryptocurrency and open software project, which was originaly launched by anonymous developer as mocking to the numerous of new cryptocurrencies launched with no purpose, other than benefiting only their creators.
Original developer disappeared less than 2 weeks after the announcement of FAILCoin, but small team of people saw the possibility for FAIL to be actually adopted, so they decided to take it over. This is how new FAIL was born with the intentions to be used as a cryptocurrency for help, payments, tipping or just for fun."
"We can't force you to mine, buy, sell or support FAILCoin in any way. We are begging you next time you're faced with a choice about buying or supporting some cryptocurrency, do the right thing. It hurts everyone less in the long run."
We have failed and been scammed a number of times, because we are trying to be honest and we believe in humanity. The result is not always good though. FAIL will start as a simple PoW/PoS coin and our goals will be:
Our team will support FAILCoin with personal funds and it's own profits from other coins. We will be open to discuss our future as a cryptocurrency with all the people who show interest in it and give their suggestions. We are not going to lie though - this will take time. That is why we will almost never give ETA about anything which leads to FAIL development.