Bitcoin Forum

Hello All,

Since the launch of Feathercoins a few weeks ago, the coin has gained a huge support from the community. The hash rate of the network is insane for a coin that is only here for a week or so, and people are already buying and selling it actively. There are also plans from exchanges to support Feathercoin, and a few of them already do support them.

While this succes alone proves that this coin is here to stay, there are always a few doubters. But don't worry, there are only a few of them and they are hating in almost all threads. It always are the same users who are trying to bring the coin down. Their argument is that the coin is an exact replica of Litecoin, which is true except for a few points.

There will be 4 times more Feathercoins, then there will be Litecoins, which is also 4 times bigger then Bitcoins. Therefore I like to look at it this way:

Bitcoins = Gold
Litecoins = Silver
Feathercoins = Bronze

I think that there is enough room for a 3rd major coin, and I believe that it will be Feathercoins. People's minds are too limited, and they fear that only 1 or 2 coins will become major. The beautiful thing about Cryptocurrencies in general is that they are opensource, and therefore a LOT of things can be done with them. As there are already stores accepting Bitcoins and Litecoins (Some starbucks etc), I think that other cryptocurrencies will be accepted soon.

It is only a matter of time before a program shows up which will accept all major cryptocurrencies, stored in a few wallets, but all managed by one program. This means that storekeepers simply choose which currency will be used to pay (BTC, LTC, FTC, PPC etc), and the price of the product will automatically adjusted to the price in coins equivalent to USD$. So, presume a cup of coffee costs 0.0001 BTC, then it will be 45 LTC, and maybe 400 FTC (Feathercoin).

The whole idea of Cryptocurrencies is fast and cheap transaction costs with a transparent network. One way or another, Storekeepers will always prefer Cryptocurrency over creditcard payment because there are almost no transaction fee's, and because cryptocurrency is becoming a big hype.

That is the reason I believe that Feathercoins will become a succes, and that there is room for more then 1 or 2 cryptocurrencies. After all, there are also a lot of Creditcard company's aren't there (Visa, American Express, Mastercard etc).

That's a good point, can't believe it didn't cross my mind that there would be a front end converter. Thanks for pointing that out :)

Dont worry I already gave your type of people attention in the first few paragraphs of my OP, no need to ask for it again  ;D

+1
I agree, like I said in another post it seems a logical progression.

+2.

I see a bright future for feathercoin. People are mining it like crazy and show no signs of slowing down.

Some questions

does FC suffer from
[1] chain bloat being 16x faster than BTC so the blockchain will get 16 x bigger
[2] High fees like LTC atm.

[3] It sounds like a product of "RISE CHIKUN"

1. No, the blockhain will not get bigger, its pre-set how many blocks will ever be mined
2. Dont think so, the coin has very fast processing rates without transaction fee's.
3. I think the name indeed is a bit weird from the start, but we'll get used to it. We were also thinking that when "Twitter" was first introduced and now its generally accepted

The name comes from feather to signify lightness ('light as a feather'). It's supposed to be lighter than litecoin.

No, because the main contributor to blockchain bloat is transactions, not blocks themselves.  16 blocks with 20 transactions each is only slightly bigger than 1 block with 320 transactions.

The blockchain will continue to grow, as blocks will be mined even after the block reward drops to zero.  Miners will mine for transaction fees.

You are awesome for pointing that out, didn't cross my mind!

"Zomg, he's like umm totally an idiot and a noob and a scammer and there's all types of pre-mining and crypto conspiracy."

There subStrata, I've just developed a sentence that will work 95% of the time for you thus saving you an incredible amount of time flaming. Here to help. ;)

Great information.

Fixed.

 ;D

It's just Litecoin with 4x the amount of coins that will end up being generated. Unless there is something else major that differentiates it from the rest of the alts, I can't see it lasting. I mean, Bytecoin barely seems to get a mention at the moment. ;)

i think its going to be big.
i think the exchange rates soon would be 1 bitcoin for 50 litecoins and 1 bitcoin for 2500 feathercoins.
so 1 litecoin might equal 50 feathercoins.
I'm still mining.

Someone was just buying 1500 FC for 1BTC.

Cheers guys  8) Spread the info on if you see someone else wondering some other day!


People stopped mining Bytecoin because an ASIC started mega mining it, which caused the difficulty to jump to an absurdly high level and then the ASIC left the network, leaving the difficulty sky high for weeks.

Once a front end program comes out, there will be enough room for 500+ currrencies. Of course we dont need that many, but what is stopping people from competing and improving. Look at how many credit cards there are.

I predict that the "front end" program or wallet will accept any currency. It will be used with NFC technology in phones. Without a front end program, all cryptocurrencys are anchored to online purchases, or purchases where a product has to be shipped or where there is a delay. If the confirmation time takes more than 10 seconds, cryptocurrency will never be used in day to day purchases in real life. (yes, that means out side of your house) A debit card or visa takes 5 seconds, and that still too long somedays.

One more thing, cryptocurrency will be deposited into the wallet, and from there it will be spent without needing confirmation. Sort of like depositing money into paypal before you make a purchase, it confirms that paypal has the money, not your bank account. This is the only way to get around confirmation times.

woooowwww
i didnt expect it to be that big!
i will continue to mine!!!

Wouldn't such a wallet which didn't need confirmations and acted like paypal, defeat the purpose of a non centralized currency? Then the paypal-like-wallet will also charge transaction fees etc

No because it doesnt have control over it. Its just a tool. Paypal does not have control over the USD. The government does. Paypal would charge a fee but how else are you going to eliminate the confirmation time that is holding cryptocurrency back?

 ;D

Very true.

 ;D

It would be much easier if you had just wrote - I mined/bought some feathercoins, they better be more expensive in the future, I want to make some money.

This.

Exchange rate is already 1 bitcoin for 30 litecoins.

You said there's a "few points" as to why it's not a replica.
You've only given us one - the rest of your post is true of any single crypto currency in existence.

4 times more?
Oh awesome, highly innovative etc.  ::)

P.S.

Gold/Silver are regularly bought and sold.... who the hell buys and sells Bronze?

http://www.grn.com/a/0410.html

Why does everything keep getting stuck on gold/silver, theres more in the PGM family group that ARE traded too..

The answer to [1] indicates a very large gap in knowledge of CC's. This is one of the central topics around here, and the very basis of how blocks are built/populated and transactions are done.

if your ans to [1] was true after the last block is made, that's the end of the currency.

How do you do this, get 3 incorrect answers and you seem to hold 3 crypto currencies, did you even invest 30min in the concept?

1) blockchain goes on and on, or will we just stop when the last coin is mined and start again with a new one?
2) you can change the fee yourself, it's only a preset in the client, so it is whatever you want, higher fee means faster transaction. Litecoin will have a lower standard transaction fee in the next client, but that's actually only for those who didn't spend the 2 minutes it takes to view the preferences menu.
3) feather  = light, lighter as litecoin

i'm already mining aircoins.  much lighter than LTC and FTC.

yeah....a worry

this is exactly what will happen if FTC is takes over from LTC

I just mined 1 FC on my new ASUS laptop purchased from bitcoinstore

I am working on an alt currency that will have 4 times as many coins as FeatherCoin.

I will call it HeliumCoin.


4 times as many coins as FeatherCoin which has
4 times as many coins as LiteCoin which has
4 times as many coins as Bitcoin.

Bitcoin: Gold
LiteCoin: Silver
FeatherCoin: Bronze
HeliumCoin: Aluminum


It should catch on well (as long as nobody comes up with a smarter plan to have an alt coin with 4 times as many HeliumCoins...VacuumCoin).

Hell, if I had skills I would make one myself, since it's becoming tedious with like six programs on your comp xD

Noooo! You got it wrong! It's first AtomCoins! Then Vacuum! xD

Imagicoin: unlimited supply, unlimited profits, but only in your head.

Pfft, Neutrinocoins after Atomicoins! :P

U didn't get the idea. "4 times as many coins" is not enough. Time between blocks must be less than 10 sec. But 10 sec is already limit. Nothing can be lighter than FeatherCoin at this point of technological progress.

The way I see the alts:

1) Ripple
Not really an alt, per se. It's a system, not an asset (XRP notwithstanding). It's effectively an alternate solution to the Byzantine General's problem, that results in instant confs. Pretty interesting.

2) Litecoin
Different primarily because of use of scrypt. This may or may not prove to have value. The 4x supply and 1/4 conf times are both immaterial. There are very few cases where 10 min conf is unacceptable but 2 min conf IS acceptable. Both are unacceptable for buying a coffee; other solutions on top of the blockchains will have to be developed. Regarding supply, magnitude is not particularly relevant with near infinite divisibility. Dynamics matter, but LTC and BTC have exactly the same curve.

3) PP-Coin
I don't know much about this one, but understand the difference is Proof-of-Stake vs. Proof-of-Work, which could have long-term implications regarding cheaper transactions fees due to less energy demand for mining. Sounds interesting.

4) Feathercoin
Brings nothing new to the table. Whether it will bubble in the market for a while or not, I don't know, but it holds zero intellectual interest for me.

LTC >> FC less premine, more acceptance, less massive blockchain
FC  >>LTC  faster

Just got the word that the first exchange has added FTC into their website, other exchanges will catch up soon! FTC price went from $0.025 to $0.07 in a day, nice progress!

First exchange? Cryptoshit.net? They can't handle the trades right now. I moved my coins away from it.

I e-mailed BTC-E and VirCurEx for FC support. They can handle large volume trading.

Although I admit that their servers are shit, I still think it is a positive move forward into the development of Feathercoins  ;D

AntiCoin, a coin with negative value which decreases while the other increases and maintains the universe of cryptocoins growing.

I see no new ideas. Nothing revolutionary. Same stuff as LTC with minor tweaks.
PPC has new ideas, sorry but this feather thing of yours brings nothing new to the table.

1) Resolve the future blockchain bloat issues (like BTC is now)
2) Absurdly high energy requirements of BTC to keep it running
3) some other good ideas :)

... and you can call it a new coin.

Just forking an existing coin is probably a fun little social engineering experiment. At the same time, it's pointless waste of time and energy.

I wonder why this has 10x the hype that bytecoin has

because no asics....where is byte up to these days????

FYI, They seem to be back up now, and they are handling the traffic better then ever from what it seems. Looks like adding Feathercoin gave them a big user account boost which meant they had to upgrade their servers.

Feathercoin is already going mainstream, unbelievable success. I was sceptical at the beginning, but obviously the market was inneed of a good secondary Scrypt coin.

Yup, even the doubters are turning into believers right now!

Really? Even Bitcoin hasn't gone mainstream yet.  :D

I think this is a perfect time to make different forks and throw it out there. Nothing is yet "mainstream", so even Bitcoin does not have an impossible headstart advantage. If it's usable or not will be sorted by the users. We'll see what's what.

When you think of it in a long(er) time perspective, maybe 4-7 years, you'll see the difference between LTC and FTC will seem non existent. It will all boil down to:

1. Usability
2. Appearance & marketing
3. DEVs
4. Luck

I think smart move is to maximize your holdings in any crypto you see as a potential success.

Feathercoin improves nothing. Oh, 4 times more coins.  LOL, there is zero reason why feathercoin is valued as much as it is in the first week of its' debut.

Feathercoin is for people/noobs who missed the BTC boat and the LTC boat and who can't mine even LTC efficiently with their rigs anymore. This is why FC even exists, oh also for get rich quick scammers.  It is a parasite.
 
I won't do business with anyone trying to hype FC. I put them on ignore immediately.

Oh, ignore op.

Cheers.

Actually there have to be a lot of people that got very easy to their LTC, otherwise they wouldn't trade them for FTC @ this rate.

You know what they say... Idiots and their money... At least it's not mine... Ignore.

Hey, while you're at it, ignore me too! lmao Happy Isolation

I can see many people having a serious case of ****hurt, thinking they lost the FTC train....  

Well you could actualy still hop on ya know, or you may ignore FTC at your loss.  ::)



P.S. To all who realise the market-need for new coins,  brace your selves for the ****hurt folks whinning cause, there are gonna be many successful alt-coins down the road.

BTW it's FTC ;)
And that is why most GPU miners have moved over to LTC from BTC, as for can't mine LTC anymore have you seen dodg's 136+ m/Hs pumping away at FTC?
And it's the FREE MARKET that decides it's value, same as BTC & LTC.

136+ ? It's over 220+ again.

Is this a good or bad thing for the average single gpu miner who leaves their pc on 24/7 ? Difficulty is 40 now, was 27 or so this morning.

I know I'm earning next to nothing now... but is that just how it would have gone, or because of the companies utilising half of the earths stock of 7870's in a milk crate?

I would see IXC live than FC to succeed

FTC now listed at http://www.coinchoose.com/ (http://www.coinchoose.com/) as most profitable cryptocurrency.
It is also listed here http://www.cryptocoincharts.info/period-charts.php?period=today&resolution=hour&pair=ftc-ltc&market=cryptonit  The premise of this thread is supported.

soon it will be a lot less profitable mining FTC as everyone jumps into this band wagon, which will only make it worse and maybe quietly kill the coin. Too fast a growth rate like this (from 27 this morning to 40 now a few hours ago) doesn't look good.

It's less than double, it's not too big of a deal. We had jumps that were 2x and even 4x back when it first started. It'll survive a small jump from 27 to 40. Litecoin had gone through a bigger jump at higher difficulty and it's alive. Or take a look at TRC and it's crazy life, yet it's still here.

Of course BTC was always profitable from day one wasn't it?  ::)
I'll continue to mine regardless of profit and as for profit I have never even taken any in 5 months @ circa £70 a month in electric while mining BTC + LTC, I'm sure I don't mind doing it with FTC either....Yes I have traded LTC for BTC & BTC for more BTC or LTC or FTC etc, etc, etc  :P....But not once have I took $ or £ in return....Why TF would I do that? I believe in crypto FTW whether BTC, LTC or FTC. 

You guys do need to realize that how harder it becomes to mine FTC (difficulty increase), the more the coin will be worth. A lot of people looking to aquire it, and it becomes harder to sell it. More demand then supply means that the price will increase.

That just doesn't happen. A lot of hashpower jumped onto FTC simply because it's more profitable. I know I made 300% more LTC mining FTC than mining straight LTC. The supply of coins is the same whether they are expensive or cheap. How many people mine them (so how they get distributed) is determined by the price. But the price does not follow mining hashrate.

Haven't heard of feathers til now.

I'll have to add to http://www.talkbitcoins.com/talk-bitcoins/the-other-coins-trying-to-play-the-coin-game/107/

Great, feel free to explore the FTC a community a bit. Lots of great people trying to work toward something rather than being railbirds and working against. PM me if you have any questions, I can probably point you in the right direction.

LOL
facepalm  :D

No but wait!

Look at the tables and plots at http://galaxies.mygamesonline.org/digitalisassets.html

Notice that the ones that CANNOT BE MINED AT ALL are worth WAY THE HECK MORE than the ones that CAN be mined!

He must be on to something! It must be precisely the fact that they CANNOT BE MINED that makes them so valuable!

After all you cannot get ANY harder to mine than IMPOSSIBLE TO MINE!

-MarkM-

I'm hoping I can get some light on this, I sent several batches of FTCoins back to back from one trading site to another , and two of those have yet to appear, not even a sign of a confirmation. Did I lose the coins?

I would appreciate if someone could explain this to me.



Thank you

Doing everything I personally can to help it out.  Got my company accepting it now https://bitcointalk.org/index.php?topic=193645.0

I think CNC may kill off FTC