Bitcoin Forum

CHNcoin will have more total coins than feathercoin, 462 million compared to 380 million, and its "blazing fast confirmations" are even more "blazing fast" with block targets of 1 minute! At the moment a block is being found approximately every 2-3 seconds. How's that for "blazing fast"? :P It's also getting attention faster than Feathercoin did at launch. It's only been 7 hours since the launch and the forum is already filled up with threads about CHN. I predict it'll be on an exchange within a week.

Basically it makes Feathercoin completely redundant. For early adoption go to CHNcoin, for stability go to Litecoin. And with the upcoming difficulty increase things are only going to get worse for Feathercoin. What does Feathercoin still offer?

Ultimately I hope that new useless coins like these come so quickly that no one has enough time to amass large quantities of coins before the next one comes along. It'll remove the incentive to do it and then people can get back to actually innovating.

There's a difference. The dev for FTC actually takes active part in the community growth and participates in public discussion. As for CNC, well we haven't heard from the dev since he released his post, which only made his total post count 7. Not to mention his account was only created yesterday as opposed to bushstar who has been in the forums for almost a year.

It's 'cute' how you think that only thing behind a coin is the tech specs. Come visit the FTC community sometime, there's people working hard at moving it forward. I know, it's the 'old school 1337 scam coin chicken rise' type stuff that people love spending their day doing here, and that's fine. I'm just recommending stepping outside the bubble for minute.. maybe you'll see something you like.

But I don't understand why it was created at all, let alone why people are spending effort moving it forward. Since it is a direct copy of Litecoin you can only move it 'forward' at the expense of Litecoin. Why not spend that effort promoting Litecoin if you're so concerned about the crypto community? Or is it only the Feathercoin community you're concerned about?

You make me laugh if you honestly think CNCoin will be used for transactions other than exchange rate gambling. 1 min blocks, that should make for an interesting block chain length in a years time or so if it lasts that long. Why stop there, lets have a 1sec block target.


It's just another pump and dump, many here will fall for it.

FeatherCoin == UselessCoin

CHNCoin = VirusCoin

Be careful

FTC just got accepted to VirCurEx. I don't see Chinacoin doing that anytime soon. FTC community is actually quite big here.

Obviously I don't think it'll ever achieve widespread use. Neither will Feathercoin. I've done lots of exchange rate gambling with Feathercoin. I haven't seen many shops accepting it though...


I'm glad you share my opinion of Feathercoin!


That's racist. :P


I'm not making any comments about the size of the Feathercoin community. I'm saying that the crypto community at large would be better served by people advancing the coins that actually added something new.

Don't forget he's Chinese. He's probably part of the Chinese crypto community. I've lived in China for a few years, and they are VERY sensitive for hypes that can make money. Money is their religion.

We need a pool up ASAP so we can mine before this coin skyrockets.

I think it won't kill FTC, at least not quickly. But we have to join quickly because solo mining is a giant pain in the testicles right now.

FTC on Vircurex, now all FTC haters can be as B***hurt as they please!   ;D

We'll see who's butthurt after the next difficulty increase.  ;)

Difficult increase is a good thing in case you didn't notice...

Not when everyone bails on the coin because the profitability just halved...

The price will rise no matter what genius, actually it will rise even more if hashrate declines.

Low production= High Price. Look at NMC- NVC  if you want an example.

FTC has achieved critical mass.

No stopping it now.

Yeah, NVC is a good example. I hear it gets a lot of use.

CHNCoin will not be the death of FTC.

However I have put an old 4870 to the task of mining this coin. If it takes off in China I could go there on holiday :)

Hi guys ,

I am going to make a new coin. It will be called DeutscheMünze translated GermanyCoin.
It will have double the coins of FeatherCoin and this will make it double as efficient.
I am going to aim for 30 sec a Block.

I guess it will rule the world then combined with our Economy.

LOL.,
Why was ANY of these created?
:

And here you are telling us that a day old coin will beat some other coin.

You are full of LOL.

I think you should make it more international...
Like EuroCoin or something ;)

I've never even heard of most of those. Of the ones I have it's because they added something new. What is the point of your post? Did you even read mine to the end? I don't think CHNCoin is going anywhere, but neither are Feathercoin and the vast majority of those coins you've listed.

Perhaps we could have a coin for each country which can only be traded 9-5 in those countries.

Then we could get some sleep at night :)

I have read your post but it doesn't add anything new to the discussion. Whatever you think you have to say it has been said at least 2 years ago.
Meanwhile some of the smaller coins are thriving.
My point was that you are just blindly generalizing.

A new coin doesn't need anything innovative. There are enough reasons to have multiple identical or similar systems in operation.
Bitcoin is not a holy grail and it can fail. Altcoins are vital to the way bitcoin is supposed to work.

Fine, everything I have to say has been said already. That is the case with most things most people say. I can see the benefit of having multiple similar systems in operation. Redundancy is often a good idea. But there are limits. What is the point of having 100 or 1000 identical mutually incompatible coins? Why not create a new one every week, or even every day? How many is too many?

haha,

ITT Feathercoiners are being hypocrits.

It's funny how you guys ignore all arguments against FeatherCoin, but when another Litecoin clone pops up a week later, you guys call it a scam / pump & dump.

ROFL. You guys reek of bullshit so hard that I can smell you on my end of the computer..


It's funny how you call Litecoin a scam coin, you just lost any credibility that you may of had. People will say the same thing about Feathercoin in a couple years, that is an inherent problem with cryptocoins... there's no easy way around not having "early adopters".


You're such a hyprocrit erk.. You blindly support Feathercoin, yet when another Litecoin clone pops up all the sudden new copy cat chains are scams and pump and dumps? Ya OK buddy...

I like that new coins are being developed because that ease of creation is a good indicator that the concept of crypto currency is valid and will grow.

I don't get the zero sum idea that there is only enough room for one or two coins, you just need to look at the number of Linux distros to see that isn't hurt whenever someone brings something new out.

However, I do feel the next big step is the regionalisation of these coins, leading to a way for all coins to find their own mass and price in a way that does mean that we will never see $100k coins.

There are limits for sure.
But these are emergent systems.
They need to find their own limit.
Nothing you say will change how things go.

Once a coin is carried by an exchange they become compatible with other monies so the incompatibilities are only in your head.

If you don't like the altcoins then simply just don't touch them.
Telling other people they shouldn't use them is kindof pointless.

Let me ask you something. How long have you been involved with cryptocurrency?

couldnt agree more

If I had a BTC for every topic that says "Coin X will be the death of coin Y", I would be a rich man now...

If we would delete al the spam topics from users with accounts less than a month old we would probably end up with 3 users, you call that a big community?
Were do all these guys come from? Check all the people promoting Feathercoin and see that most accounts are made in April.

If Chinacoin does the same it probably will look like it also has a big community. ::)

tell you what we are the guys that came in just in time for the huge BTC crash.

We came here now, but we were not born yesterday.

This market is a commodity market right now, and in order to be stable it needs options.

options where investors can safeguard their assets.


Moreover , if Bitcoin and soon litecoin do not proceed to make adjustements in their coin numbers (like making 1btc=1000 new-btc) the ammount of coins is extremely low.

One cannot seriously think that the average Joe will bother with buying 0,00234 bitcoin!


Thus market needs more coins.

as simple as that.

its fun to watch this market.  thankfully all the pragmatics aren't regulators otherwise they would have adopted BTC as the defacto currency and outlawed all others by the posts I see.  Comical I think.  Its a human mentality of self interest.  protecting the old guard that established BTC against the new comers that are sucking away liquidity by distributing it to other coins.  

The thinking is that if it was for these alt coins BTC would be stronger and more widely adopted and would make me richer since I was here a year ago, 2 years ago, etc.

These coins act like pure markets, and its free to establish any number of new coins for any reason.  I welcome them.  Eventually there will be 2 to 3 coins a week being produced and the coin hoppers will not be sure what to jump on next.  You'll have the old established markets BTC/LTC where margins are small but becoming more stable and the frontier markets where there are wild swings and some coins will make it and others won't and people will waste hash time and gamble away or win bid on trades.

We need it all.  Its not about the defacto coin, its about establishing a greater market in cryptocoins.  Combined they are greater than they are individually.

So I guess I'm saying can't we all just get along?

Obviously you know I haven't been involved in cryptocurrencies very long, but that isn't the point. The whole point of this thread was to show that every argument that has been made for feathercoin can also be made for CHNcoin. Sure, at less than a day old CHNcoin doesn't have a very large or strong community, but I'm sure that will change, especially in China. And feathercoin's community isn't as large and strong as litecoin's, which isn't as large and strong as bitcoin's... The only reason anyone has any feathercoin at all is because other people are willing to trade actually usable currency for it, and those people only trade usable currency for it because they think someone else will trade even more usable currency for it in the future. CHNcoin is already being traded for stupid amounts on the forum, for the same reason. All I'm saying is that if you want a coin to be viable in the long term you should have something that makes it stand out from the next bitcoin/litecoin clone that comes along, and if that's not technological innovation, what is it?

I lost respect for the exchanges that included a 2 week old coin.  There is a reason even the stock market has a pink slip.

I really don't think the number of coins will make any difference. It's merely psychological and people will adapt. Look back far enough in history and you could buy property for a few dollars. Just use SI prefixes. Problem solved.

but there is a pink sheet market and its frontier zone.  you trade high risk with potentially big gains as well as losses.  You can respect it or disrespect it all you want it wont change the fact that people are trading it.

Actually, i can't know because it's very fashonable around here to have a sockpuppet account or two.
The only reason why i think you may actually be new is because there has been a recent influx of new people.

Anyway, it seems you really are new.
I can only say that there is probably a lot you still need to learn about all this.
One thing you'll find out is that premature opinions usually turn out to be false and things usually are not as simple as they appear.

CHNcoin is unproven as yet. It may, or may not, have a niche. .. Due diligence required. There are many ways for ot to be a scam...

That said, I am prepared to take a risk and buy some... Does anyone have some for sale ??

Stop! You make too much sense among the trolling. :)

Makes sense... but remember, the more alts. are created,the more scams will emerge, and the more confusion there will be amongst the partially-informed (that includes the mainstream)... That will detract from the market as a whole.

No, but average Joe will bother to buy 2,34mBTC  ;)

Feathercoin will be fine, as long as people don't rush onto the next coin and it continues to get a following. Look at BBQ coin, that one is still going strong isn't it?

The only time BBQ coin is brought up on these forums is when someone wants to dump their worthless stash of them on some other poor sucker.

Feathercoin will soon be forgotten, just like the countless copy cat chains that came before it and the new one's that are popping up now.

The only ALT coin that is "going strong" at the moment is Litecoin, all others are fighting for survival and could be worthless in a month.

That's why I think it's stupid all you new guys hopped on the Feathercoin bandwagon. I guess you don't understand how many new coins are being released all the time. Here we are a week later and there is China Coin now. There will be more and more as time goes on, we should only support the ones that provide innovation from prior coins, not copy cats.

I agree with your take on this.

I think the analogy with Linux distros is better than with most of the financial analogies I've seen bandied around.

Anyone who thought that they were going to become the new Microsoft back in the mid 90's through Linux (Caldera?) misunderstood the game completely.  Almost no one has made serious money out of selling distros.  Redhat bases its business model on service contracts.  But the people who supported the IDEAS behind Linux are gradually winning the war with Android, etc.  We don't live in the Microsoft controlled world that many people feared back then.

I would predict that the value of BTC will be gradually eroded by the alt currencies, and that that is not a bad thing. A diverse cryptocurrency ecosystem is going to be much more resilient to the threats posed by states, banks, regulators etc. than one tall poppy currency.  Until there are many more alt currencies there will be a large red "X marks the target" on Bitcoin's back.  

The impulse to defend any particular coin because you are invested in it is mistaken.  Life just isn't that easy.  It makes more sense to adapt by diversifying intelligently, and to support alt currencies in general.  Which is easier to track and shut down, one big currency, or a hundred variations?

Yeah because with dozens of altcoins you get all these great effects like:

- hyperinflation
- obscurity
- pump and dump schemes
- diluted security (making 51% attacks easier)
- complicating merchant's business model

Sounds great! Let's have one million altcoins! Because diversity is always better, right?

In a free market diversity is better.
If there is no place for these altcoins they will go away.
And bitcoin could use some inflation. Way too many people there hoarding their coins.

Funny how all the problems you mention are solved by fiat money...
Maybe you didn't need bitcoins in the first place?

The hoarding is partially due to a lack of things to spend the coins on. Over time that should change. If the tax dept would take them as payment that would be really handy for a lot of people.

Agree that hoarding makes sense because of lack of economy.
But all this tells us that aparently even bitcoin is not that needed or else other businesses besides SR would have flourished.
All cryptocoins at the moment are driven only by future prospects of price.

With the exception of Bitcoin which is being used by people to purchase stuff all over the place. See SR or Bitpay for examples.

So what can i buy for bitcoin besides recreational drugs, rackspace or bitcoin mining devices?
 ???