01
Bitcointalk [ANN] — Federal Reserve Coin
The original launch thread posted by btcpay86.
Start here
What this archive is about
The history first. Then why that history still matters — and what our token is for.
FRSC was an old cryptocurrency themed around the Federal Reserve — announced on Bitcointalk in 2014 by an account named btcpay86, widely identified as CZ. We relaunched the ticker so that story does not stay buried in the Wayback Machine.
Despite the name, nothing about the original project suggests it was created or endorsed by the U.S. Federal Reserve. It was an independent crypto project using the Fed as its theme — and as the target of the joke. The chain faded. The idea did not. That is why the legacy continues.
WILL NOT BE DEVALUED COINS
From the original 2014 website
Creative Origin
Preserved from federalreservecoin.org — the project's own explanation of why FRSC existed.
- Two days before Christmas in 1913, Woodrow Wilson signed the Federal Reserve Act. The law sought to end bank failures by creating a central banking system. But a century later, the Federal Reserve has become an enabler of the financial havoc it was designed to prevent. A look at the Fed's history offers some insight into the problems.
- Federal Reserve system coin (FRSC) was born in the Federal Reserve 100th birthday. This's a virtual currency experiment at the Financial system function, the world of a not without inflation and devaluation, let us feel the true meaning of the Federal Reserve system.
- December 18, 2013, the Fed announced its withdrawal of quantitative easing (QE), its withdrawal from January 2014, the monthly scale bond purchases will be reduced from 10 billion to 75 billion U.S. Five years ago, the Fed opened a lot of people have been likened to "printing machine" QE monetary policy.
- FRSC use scrypt algorithm, produce one blocks per minute, each block of the first year of a 20% reduction coins every 30 days, In the second year unchanged, third year decreased by 50% per year, the total mining time is infinite.
- Open Source download: Local Download — port:5895 · rpc port:5894
1 · The forum
What is Bitcointalk?
The place where early crypto projects were announced — before Twitter threads and Telegram groups took over.
Bitcointalk (bitcointalk.org) is one of the oldest and most important internet forums in cryptocurrency history. It launched in the early Bitcoin years and became the default public square for developers, miners, traders, and experimenters.
If someone created a new coin in 2013–2015, they usually posted an [ANN] — an announcement thread — on Bitcointalk. That thread was the project's homepage before the project had a real homepage: whitepaper links, wallet downloads, pool info, and argument threads all lived there.
| In plain terms | |
|---|---|
| What it was | A message board for Bitcoin and "altcoins" (other cryptocurrencies) |
| Why it mattered | Launching a coin there meant putting it in front of the people who mined, traded, and reviewed new projects |
| What an [ANN] is | An announcement post: "here is our coin, here is how it works, here is how to get it" |
| Why FRSC is there | Federal Reserve System Coin was announced on Bitcointalk in January 2014 — that post is still online |
Primary source
- FRSC announcement → bitcointalk.org · topic 493871
2 · The poster
Who is btcpay86?
The Bitcointalk account that launched FRSC — identified with Changpeng Zhao (CZ), later the founder of Binance.
The FRSC announcement was posted by a Bitcointalk user named btcpay86 (user ID 202137). In the community research around this coin, that account is identified as Changpeng Zhao — CZ — the person who would later found Binance, now one of the largest crypto exchanges in the world.
At the time of FRSC, CZ was not a household name. His public early-career story includes working at blockchain.info (today associated with Blockchain.com), helping people with wallets and exchange plumbing. That same kind of work shows up in btcpay86's Bitcointalk post history.
Why people say btcpay86 is CZ
| Point | In plain terms |
|---|---|
| Same era | The posts are from the years before Binance existed — when CZ was still building in public on forums |
| Same kind of work | btcpay86's history looks like wallet support, exchange ops, and hands-on crypto infrastructure — not a random meme poster |
| blockchain.info trail | On Bitcointalk, the account answers blockchain.info questions and talks about working there. That matches CZ's known résumé |
| FRSC itself | btcpay86 is the account that posted the Federal Reserve Coin [ANN] — so whoever btcpay86 was, they launched FRSC |
How the identification was made — step by step
Nobody "revealed" this. Anyone can rebuild the trail in about ten minutes, using nothing but public Bitcointalk pages. Here is the exact path, in order.
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1
Start at the coin's own announcement
Open the 2014 [ANN] Federal Reserve Coin thread (topic 493871). The thread starter is the account that launched FRSC: btcpay86, user ID 202137. That is the only starting fact you need.
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2
Open that account's whole post history
Go to the profile's post list (user 202137). You are not looking for a confession — you are reading a job description: wallets, exchange plumbing, user support, in the years before Binance existed.
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3
Check that he operated the coin, not just posted it
Read his FRSC support thread of 24 February 2014: "Hi, guys, if you have some problems of FRSC, Please do not hesitate to tell me." He ships the wallet, the source code and the mining software, and answers users' problems. That is the behaviour of whoever built it.
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4
Search that history for blockchain.info
Much of the account writes in Chinese, so turn on your browser's translate, then use Ctrl+F for blockchain.info. You land on posts like this reply (msg 6722268), where the account answers blockchain.info support questions and speaks about working there.
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5
Compare it with CZ's public timeline
CZ's own public career story runs through blockchain.info (today Blockchain.com) and OKCoin before he founded Binance in 2017. Same years, same employer, same kind of hands-on work — from a Chinese-speaking account that also happened to launch a coin mocking the Federal Reserve. That overlap is the whole basis of the identification.
What the record proves: btcpay86 launched and operated FRSC, and discussed working at blockchain.info in 2014. What it does not contain: a signed confirmation of identity. Neither CZ nor Binance has commented. So this stays a community identification built on public sources — strong, but read it yourself and judge.
Primary sources
- The launch thread → topic 493871
- btcpay86 post history → user 202137
- His FRSC support thread (Feb 2014) → msg 5330969
- blockchain.info discussion sample → msg 6722268
3 · The idea
What was Federal Reserve System Coin?
In layman terms — based on the original federalreservecoin.org homepage.
This was basically the homepage for an old cryptocurrency called FRSC — "Federal Reserve System Coin." Despite the name, nothing on the page suggests it was created or endorsed by the U.S. Federal Reserve. It was an independent crypto project using the Federal Reserve as its theme.
The basic concept
| Idea | What they were saying |
|---|---|
| Critique of the Fed | The creators criticize the Federal Reserve and traditional monetary policy. They argue that central banks can create money, cause inflation, devalue currency, and use policies like quantitative easing ("printing"). |
| Code instead of a central bank | FRSC is presented as an alternative monetary system. Instead of a central bank deciding how much money exists, the supply of FRSC is governed by software / code. |
| Anniversary timing | The project launched around the Federal Reserve's 100th anniversary era (site and ANN in early 2014, after the late-2013 QE taper news) — that anniversary gave them a narrative for the coin. |
| You could mine it | Like early Bitcoin / Litecoin-style coins, FRSC could be mined. The page says it uses the Scrypt algorithm, produces roughly one block per minute, and has a predetermined schedule for reducing how many new coins are created. |
| User infrastructure | The bottom of the original site was the practical toolkit: download the FRSC wallet, connect to mining pools, download mining software, and find exchanges where FRSC could be traded. |
The joke, in one line
Central banks can inflate money by policy. FRSC's motto — WILL NOT BE DEVALUED COINS — was the punchline: a coin that claimed it wouldn't play that game, dedicated (ironically) to 100 years of the Federal Reserve.
4 · When it happened
Timeline
From the Fed's taper news to the archive you can still open today.
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Dec 18, 2013
The Fed announces QE taper
The Federal Reserve says it will begin scaling back quantitative easing — the bond-buying program critics called money printing. That policy backdrop becomes part of FRSC's story on the original site.
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Jan 2014
FRSC launches on Bitcointalk
btcpay86 posts the [ANN] Federal Reserve Coin thread. The project is framed around the Federal Reserve's 100th anniversary and the "printing machine" critique. Motto: WILL NOT BE DEVALUED COINS.
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Feb 2014
Original website is live
federalreservecoin.org explains the concept, lists Scrypt / 1-minute blocks / emission schedule, and points users to wallet downloads, mining pools, mining software, and exchanges. Wayback captures from this period still exist.
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2014 (ongoing)
btcpay86 active on the forum
The same account's broader Bitcointalk history includes wallet/exchange help and blockchain.info discussion — the trail researchers use when they identify btcpay86 as CZ.
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2015–2020
The project fades; the archive remains
Mining interest dies down. The domain eventually lapses. About 31 Wayback Machine captures (through Nov 2020) preserve the seal, downloads, pools, and disclaimer.
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Later
The story gets rediscovered — and relaunched
People reconnect the ANN, the old website, and the btcpay86 → CZ identification. We bring $FRSC back on BNB Chain so the seal, the motto, and the critique have a living ticker again — not only archive pages.
5 · Why it still matters
Why the legacy must continue
The original chain died. The argument it carried did not.
Federal Reserve System Coin was never only a wallet download and a mining pool list. It was an early, public joke about power over money: who gets to create it, who pays when it is devalued, and what happens when that process is hidden behind institutions instead of open rules.
That joke was posted in 2014 by btcpay86 — CZ — years before Binance made him famous. Then the site went dark, the domain lapsed, and the record survived mostly in Bitcointalk threads and the Wayback Machine. If nobody carries it forward, one of crypto's strangest early artifacts stays a footnote.
| Why continue it | In plain terms |
|---|---|
| The critique aged well | Debates about money printing, inflation, and who controls supply did not end in 2014. FRSC's theme is still readable today. |
| The origin is rare | A Fed-themed coin announced by an account tied to CZ's early forum years is not generic meme lore — it is a specific historical object. |
| Archives are not enough | Wayback captures preserve pages. A living ticker, seal, and community keep people actually reading the story. |
| The motto still lands | WILL NOT BE DEVALUED COINS was the punchline. Continuing the legacy means keeping that line in circulation — not letting it die with a lapsed domain. |
| Culture needs memory | Crypto moves fast and forgets faster. Continuing FRSC is a refusal to let early internet history get overwritten by whatever launches this week. |
We do not continue FRSC to pretend we are the Federal Reserve. We continue it so the original joke, the paper trail, and the early-CZ artifact stay alive in public.
Live desk · Still proving the point
What the Federal Reserve is doing right now
Pulled live from public Fed sources. Same institution. Same power over money. Different decade — same thesis.
In 2014, FRSC's point was simple: a committee can create money, set the price of credit, run policies like QE, and everyone else lives with the side effects. Below is not nostalgia — it is the same machine, updating in public.
Effective Federal Funds Rate
—
FOMC target range
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SOFR
—
Loading the latest reading…
Latest monetary-policy releases
The longer tape — balance sheet, money supply, prices
These St. Louis Fed (FRED) charts update as the data does. Watch the tools the original FRSC site was mocking: the size of the Fed's balance sheet, the broad money supply, and consumer prices.
| 2014 FRSC claim | What the live desk shows now |
|---|---|
| A central bank can set monetary conditions by policy | The FOMC still publishes a target range for the federal funds rate — a committee deciding the price of overnight money. |
| QE / "printing" reshapes the system | The Fed's balance sheet remains a primary policy instrument; the WALCL chart is the long memory of that era. |
| Policy can devalue purchasing power | CPI is the public scoreboard for whether money held its value after years of extraordinary policy. |
| Supply should be rules, not discretion | FRSC's answer was code and a motto. The Fed's answer is still statements, minutes, and target ranges — updated on this page as they publish. |
Data sources: Federal Reserve Bank of New York reference rates, Federal Reserve Board monetary-policy RSS, FRED / St. Louis Fed charts. This desk interprets public data in the FRSC narrative frame; it is not financial advice and not an official Fed product.
From the original homepage
What the OG website actually said
Reproduced from federalreservecoin.org (Wayback capture, 28 Feb 2014).
http://federalreservecoin.org/ · capture: 28 FEB 2014
- FRSC was born in the Federal Reserve 100th birthday. This's a virtual currency, let us feel the true meaning of the Federal Reserve system.
- December 18, 2013, the Fed announced its withdrawal of quantitative easing (QE)… people have been likened to "printing machine" QE monetary policy.
- FRSC use scrypt algorithm, produce one block per minute, each block of the first year a 20% reduction coins every 30 days, in the second year unchanged, third year decreased by 50% per year, the total mining time is infinite.
- Open Source download: Local Download — port 5895, rpc port 5894.
| Technical detail (2014 chain) | Value |
|---|---|
| Algorithm | Scrypt |
| Block time | ~60 seconds |
| Year 1 emission | −20% every 30 days |
| Year 2 | Unchanged |
| Year 3+ | −50% per year |
| Mining time | Infinite |
The rest of that homepage was practical: wallet, mining pools, mining software, and exchanges — the user infrastructure for running and trading the coin.
Don't take our word for it
Sources you can open
Everything above points back to public pages.
02
btcpay86 post history (user 202137)
Translate the page, search for blockchain.info — the core of the CZ identification.
03
blockchain.info discussion by the same account
Public posts about working on / supporting blockchain.info in 2014.
04
Original website via Wayback Machine
federalreservecoin.org captures — concept copy, seal, wallet/pool/exchange links.
Community research archive. Not affiliated with the U.S. Federal Reserve System, Changpeng Zhao, Binance, BNB Chain, or blockchain.info / Blockchain.com.
Quick answers
FAQ
Was FRSC made by the Federal Reserve?
No. The original site even said it was not the Fed's official website. It was an independent crypto project using the Fed as a theme and critique.
Who launched it?
Bitcointalk user btcpay86 (user 202137). Community research identifies that account as Changpeng Zhao (CZ), later founder of Binance. See the sources and decide for yourself.
What was the point of the coin?
To criticize central-bank money creation and offer a tongue-in-cheek alternative where supply rules lived in code — timed around the Fed's 100th anniversary and the QE taper news.
Could you mine it?
Yes. It was a Scrypt proof-of-work coin with about one block per minute and a published emission schedule. The old site linked wallets, pools, and miners.
Why the “Live Fed desk”?
Because the original point was never only historical. The desk pulls live Fed rates, policy releases, and FRED charts so you can see the same institution still setting money conditions by committee — the critique FRSC made in 2014.
Why relaunch FRSC at all?
So the legacy does not die in the archive. The original critique, seal, and btcpay86 / CZ paper trail deserve a living ticker and community — not only Wayback captures.
What is the purpose of the token you launched?
Cultural continuity. $FRSC on BNB Chain exists to keep the 2014 Federal Reserve System Coin story circulating: the Fed satire, the motto, and the public sources. It is a community legacy token, not an official CZ/Binance/Fed product, and not the original scrypt chain.