Bitcoin Forum

How many Feathercoins were mined the first day? (24 hours)
I heard it was over 1million, but is it closer to 2 million?
thanks for the fast answer, chriswen

Well, I didn't know but seems like it's closer to 3 million lols.   ;)

2,890,200

Block 2 to block 14451

So it took barely over one full day to mine 1% of all Feathercoins that will ever be in existence?

It's less than 1%.  Think about it, there was still more than 99% left to mine after the first day.

Yea besides now the difficulty has been readjusting to catch up. Not to mention remembers this is 4x more than Litecoins, 16x more the Bitcions. Even 1mil isn't as much as you think

As far as Im concerned, any substantial premine or instamine without alerting the community prior to launch means the coin is DOA.

Just an attempt by the developer to make a few quick bucks of some hapless folks.

I wouldnt touch FC personally. If you want real value, buy LTC.

And 10 days have passed and we haven't reached 2% yet. Just like the cryptos that have come before it, there is an automatic difficulty adjustment every x number of blocks.

I don't doubt the author and his buddies set up multiple mining rigs+addresses to mine from the start.  I'm mining some at the moment, but I guess I too feel Feathercoin is tainted because there was no forwarning, or pre-announcement.  The first blocks were being found every 5-10 seconds, so instantmine indeed.   I had no idea it was almost 3 million though.

But, there's going to be 336 million coins, we'll see how it works out.  Yeah the no pre announcement wasn't the best.

Definitely has a scammy feel to it; but hopefully in the long run FTC will nonetheless fill a role in the crypto world.

Wich has just been proven to be not enough, Someone should not be able to just "collect" 1% of an Entire Currency's Fixed amount in 24 hours

Say that to MinCoin, 500 reward first day.

Who says it was "someone" if you check the blockchain info you will see that it was lots of miners as it should be. The announcement was in a public forum, so nobody had a head start, if you missed out then don't cry here, you have 98.5% of the coins to mine, off you go.

5 seconds public notice before launch with planned, low difficulty may mean it wasn't *technically* a pre-mine, but it was *effectively* a pre-mine.

(And I say that as someone who owns a few; I'd like to see it succeed despite the scammy intro.)

VERY poor excuse for premining of a new useless currency. Smells like total scamcoin.

Announcement in the middle of the night and few miners with MASSIVE hash power mining 3 million coins in less than a day. Yeah, not scammy at all.

The announcement wasn't in the middle of the night, it was right in the middle of US daytime. 2:20pm on the east coast. Stop trying to spread misinformation.

There also was not MASSIVE hash power. Block difficulty was super low, anyone with a hasher and low expiry settings was getting blocks.

Correct, I had no trouble cutting over a small litecoin rig to see what it was all about, and mining some coins. atm I am not taking it seriously until someone like BTC-e supports it, but I will still mine a few hundred FC just in case one day it takes off, same as I did with BTC back in July 2011.

Haha, watch the trolls: If feathercoins werent that successfull, you would all laugh at the miner and tell them how they wasted so much eletricity for nothing, how they are all so dump etc.

I actually got about 10k from mining with an M7820 (: Go me.

Exactly... Litecoin was announced 3 days ahead of time for everyone to test their mining settings on the Litecoin testnet before actually launching the coin. There were a lot more people mining it from its inception, making it more evenly distributed.

Feathercoin gets announced and people immediately start mining it and/or were ready to go right from the OP. Whereas others don't see it for a day or two, or have trouble setting up their configs, etc..

Litecoin's release was much fairer than Feathercoin's release. If a new cryptocurrency wants to make it nowadays, they must follow the same standards as Litecoin and Bitcoin have followed as far as giving public notice before actually launching the chain.

You want to talk fair? Three days isnt enough for some people that didnt have their mining stuff ready yet. For some, it took weeks, for some they had to wait for parts, etc.

Three days is better than the Zero days Feathercoin provided........

People are always just now finding out about crypto currency and buying/waiting on hardware. I'm talking about people already in the cryptocoin community and ready and willing to accept new currencies.

That is just not a good way to start off.... hey by the way guys, I just started a new currency... yeah I might be mining the heck out of it as I type this post, but who cares... it's fair!

My favorite troll from BTC-e, good to see you Swede!

Your logic is so far off base, I don't know where to start.  3 days notice give every nerd with a mining rig the opportunity to essentially rape it from day 1.  I don't have a mining rig, I happened to stumble upon it from a comment in BTC-e and bought my fair share.  Too many here feel they are entitled because they happen to sit around all day and post in the forums. The coin was released, a community built around it, get over it.

You don't get my point... announcing it a few days ahead of time gives "people that feel entitled because they happen to sit around all day and post in the forums" less power and distributes the coins more evenly to regular users...

Too bad you don't have a mining rig... that's not our fault. Are we supposed to wait until we get notice from you to launch any new cryptocurrency?

PS: I wasn't around for more than half a year after Litecoin was released... I'm not complaining. I know the initial release was fair, so I'm happy with it. Bitcoin release was even more fair than Litecoin, being announced months before the genesis block was mined.

Three days vs zero days, a lot of people knew about cryptos by now, even I knew about, and I was ready and prepared, and lurked in this forum for quite some time before jumping onto FC and mining it, hence a couple thousands of coins from 200kh off a laptop gpu. A lot of people had their fair chance to browse this forum everyday, if they didnt decide to have their mining stuff ready like I did, then too bad for them. I felt that way when i first saw bitcoins, now, i learned from that mistake.

You just don't get what has made Bitcoin so wildly popular. It was fair... it was announced months before the genesis block was mined.

So you think something like Feathercoin that people announce and are mining the very second they announce it will compete with such a fair release as Bitcoin, and on a lesser degree Litecoin?

That's just ridiculous... I wasn't around for either Bitcoin or Litecoin's inception, but they are obviously two of the most fairest releases of cryptocoins in history.

I don't get behind currencies just because I want to be an early adopter. I get behind currencies because I see a future in them. For me to see this, it takes development, projects, a large community of users, a fair release, etc.... I am not a sheep, I do not blindly follow and mine useless crap coins just to become an early adopter.

Dont be ridiculus people.

Bitcoin was a first, now the community is flourishing.

Their is no equipment to setup, you just point the miner to another pool. Like 10 minutes time, max.

There were people ACTIVELY advertising FC minning from Day ONE in trollbox and in the forum.


You talk about Bitcoin and fairness, WHERE is the fairness since I learned about its potential 10 days ago??

Where is fairness for future generation? For people that were 10 y.o. or LESS when Bitcoin Launched.





Stop beeing whiny!


Nobody told you that your precious Bitcoins/Litecoins will lose value or be taken over by Feathercoin.

Its a Free market, Its a HUGE market, RELAX there will be many new coins .


Actualy the Market NEEDs more coins.


Feathercoin gets huge support from day one, Its going to be here for long. Deal with it.

I'm not being whiny, I just like cryptocoins and I like to debate them.

Maybe one day Feathercoin will become as developed, have a lot of projects, and have as many users as Bitcoin and Litecoin.

But, today is not that day and I'm not going to invest a penny into it until there is some development for it. It seems like common sense to me, it's just smart investing. IF you went out and invested in every start up business you can find, you will go broke. But if you search around for the best start ups and the best business concepts, your investments will do much better.

There are many more cryptocurrencies that I haven't invested in that are MUCH more developed than Feathercoin, so it's hard for me to see you new guys' point. You guys are basically just all trying to be early adopters... it's silly and scam-ish.

Thanks (:

While I knew about Feathercoin from day one, (trollbox was full of people inviting to join the mine process) I laughed it off.

Now I just have a couple of hundred coins, who is to blame about that?


Was I scamming people by minning 2,5 LTC a day, since I know that next year they will be able to mine just 1 with the same cost of equipment?

People who come later in the game, are inherently disadvantaged in all coins.

That is why the market needs more coins. NEW coins, so that everyone can become an early adopter.

Or else Cryptocoins were the SCAM of the  2000's Generation  upon all other future generations, upon people yet unborn.

IMO- new coins that provide no innovation are a bane to the cryptocoin ecosystem, not a godsend.

With every new coin that comes out, all others will be diluted in value. Latley, there have been AT LEAST 2-3 new coins a month. This is a fast enough rate to dilute all other crypto currencies and make them valueless and useless.

I am agnostic because there are so many religions and who am I to know which one is legit? I fear new people to the cryptocoin community thinking the same thing when the list of cryptocoins is 5000 coins long. It will intimidate new users, and also be impossible to integrate all coins into ecommerce. Can you imagine having 5000 block chains on your hard drive?

It is because of this problem that I think we should only help, adopt, and develop the most promising coins. Coins that produce NEW ideas- not rehashed just change a couple parameters and call it a day coins. Yes, Litecoin could be called a "change a couple parameters and call it a day coin", however... it's already been done. There's no need to keep doing it over and over and over and over, other than the fact people want to become early adopters.

You should not worry about that, once the market matures every coin that has nothing significant to offer will become rappidly irrellevant.

That beeing said as more and more of those 7.000.000.000 people get interested in cryptos, there is going to be a growing market.

I guess that if all goes well in 10 years from now their will be 5 major cryptos + 10-20 lesser ones, but with signifficant number of followers.

There are many FIAT, no problem about it exchange rates are there and everything works.

There are many stocks in the stock market, no problem about it either.

In fact cryptos exchanging works even easier than in FIAT or in the Stock market. Maybe some day it will become automatic (like with a new tab in all wallets allowing to convert at current prices.

In fact new coins help new people to get in the game, to enlarge the market.

Exactly the point I've been trying to push home all along is that Feathercoin provides nothing of significant value...

We already have it. There are other coins that are smaller than Bitcoin and Litecoin that are much more developed, and more widely dispersed.

If I wanted to invest in something with value, I would look there first (PPC/TRC).. All the noobs seem to only be worried about being early adopters.

So let the market/community decide, time will tell.

This is different that talking about scams.



Why did I say that FC has already succeded?

1) Market is starved for new coins

2) I see community support.

If this changes, then my estimation might change.

I'm tired of debating for now, but I'll leave you with this:

The forums are always spammed with a bunch of threads when a new coin comes into existence. I've seen it a lot since I joined the community. There will be your google doc spreadsheet exchanges, threads about what it is, giveaway threads, threads about how it works, threads about this, threads about that. All those new currencies that came during the time since I joined have not become hugely popular or the early adopters rich or even close to it.

For a currency to be valuable there has to be development, and sorry FC... you're not there yet. I'll stick to BTC and LTC, two proven currencies that will be around for a while, and that I can actually use to do things, before gambling on week old currencies such as FC.

I may be your biggest critic now, but perhaps I will be your biggest promoter later. Develop sites, exchanges, and services and I'll think about it. A community of crypto coiners is nothing without developers. Until then.. FC is worthless to me.

The hashrate went up on this coin faster than any other alt before it. After 12 hours the hash rate was higher than Freicoins after it had been released for a week. I look forward to the FC hash rate and coin minted graphs when we get them up so we can analyse this in closer detail.

For all that there were so many coins out there I still have not been able to buy 100k for 10BTC.

The value of the coins comes with time, bitcoins were worthless in the beginning too. Once some exchanges start to deal in FC and they start changing hands, the value will start to rise.

The issue was the opposite. The price was higher than I expected. I tried to pay 10BTC for 100,000FC in chunks but was being offered it for 40BTC. I do not know if this is a fair price, I will wait for the exchange and let that inform me.

Sounds cheap to me, LTC are trading at about 30:1 for BTC on BTC-e. You could say FC could be worth as much as 1/4 of an LTC if they had the same reputation, so that could be as high as 120:1 against BTC one day.

The way I see it, coin value has two parts, firstly the base value, that's how much energy it takes to mine it. You would know that better than I for FC I will assume it takes a quarter of the energy that mining LTC does. Then you have the good will component, that's what the coin builds up being traded in the marketplace for a number of years. So once the good will builds up, the coin should be proportional worth the energy it takes to mine it compared to BTC, LTC etc.

I mine what's profitable, I don't even care. Make a Buttcoin and if it's profitable, I'll mine it.
But I'd never keep FeatherCoin, I don't believe for a second that it has a future.
I turn it into LTC as fast as I can.

I mine what's profitable, I don't even care. Make a Tittycoin and if it's profitable, I'll mine it.
But I'd never keep LTC, I don't believe for a second that it has a future.
I turn it into BTC as fast as I can.

All this BS Altcoin hating is absolutely crazy..... Sour grapes because the OP's of these threads couldn't figure out how to mine the fuckers soon enough?... FFS any altcoin (EVEN theeeee COIN had to start off in order to exist and there are quite a few $MILLIONS in BTC sat in cold wallets AFAIK - Imagine the chaos if they ever suddenly became HOT wallets) Anyway if you are that bothered buy a few thousand, most miners with these so called millions of FC have either sold, are selling or have given a large portion of them away, maybe one day they might regret doing that, maybe one day they won't, either way does it really matter anyway? If people believe in a coin it will work.
I like the idea of FC tbh as it follows the /4 route of the other 2 MAIN coins. And having transacted with FC I like the way it fully confirms in a fraction of the time with a fraction of the hashing power, seems a pretty logical step forward and I'm sure Satoshi wouldn't be starting these types of threads!  :-\

From your line of thinking, every coin is a scam.

Then explain how early adopters of BTC or LTC didn't benefit.

Then you clearly have nothing to support your statements.