Bitcoin Forum

So basically after 1 week, someone creates a new coin and the old one is unused, making some money for the first miners?

not dead but since its no longer profitable to mine right now willl sink in value until diff drops and then it will get mined again and value will rise, it's only a ltc clone so i suspect .001 is the value for now perhaps 0025 if in 6 months or longer.

this is just me guessing i don't think anyone really knows what will happen to any of these coins.

I agree with cryptohunter.
When the diff drops it will become profitable again and people will pump the price up more... And hopefully the price will stay up there :D

But it was overpriced as start ... People who bought 100k+ should be mad :(

i think most ppl that put in 100k orders got it for the price it is now or less. Even if they paid more they can probably quite easily afford it. Also those that grabbed 100k probably dumped out even higher, there is a reason they can swoop in and grab 100k, they know markets and when to buy then dump. Im guessing they are holding only 30% of that now and already made a profit, all about timing i guess. Long term i think it will gradually rise, the developer has put quite a lot of work in and it has a growing community unlike some of the others.

I cant even get the feathercoin wallet to sync atm? anyone else having this issue??

Yes. But you knew that from the start, right?

Your logic is flawed.  When it becomes profitable to mine, people will jump on it to mine and then quickly sell.  There is absolutely no mechanism to drive the price higher based on lower difficulty.

Feathercoin has an active team and community behind it. There is an update in the link below.

https://bitcointalk.org/index.php?topic=178286.msg2060107#msg2060107

There is a Feathercoin forum available from the link below.

http://forum.feathercoin.com/

why will none of my feathercoin wallets sync for hours on end?

Yes, perhaps it will happen like that. However the HUGE unload from miners that mined on zero difficulty is underway now and i think that is driving the price into the ground. Perhaps when a more widespread distribution of coins then more ppl will take a genuine interest and not just want to dump them all. Also when the mining diff goes low and its profitable, the diff will then start to rise as more ppl jump in again?

I'm not really sure though since i only been looking into crypto for a few weeks and have not been here to witness enough of these cycles to see how it will pan out. I do like that the developer has put some work in and is around with a website and own forum which is growing. I guess it will be a gamble like anything else. The market is so tiny any big player can push it up and down at will atm. Needs months to mature and become a litlte more stable i guess.

FTC Net Hash: 407.15 MH/s,      CNC  Net Hashrate:   511.75 MH/s

However FTC will go down in the history books as the worst difficulty re-target to date. A text book case on how not to do it.


The devs better go back to the drawing board and fix it so it can't happen again, unless they want miners to ignore the coin.

Yes, these are just flash-ponzis. You know who the winner is: first in, first out. The rest are left holding the bag.

Is Terracoin and Devcoin dead?

http://dustcoin.com/mining

EDIT: bad example. devcoin seems to be dead.

OPs concern is valid.

From a noob's perspective it might look that way, but if you look at what actually happened. FTC had a great launch, nicely timed no head start, no pre-mine,  lot's of people jumped on it and the hash rate went though the roof in no time. As the difficulty increases started to kick in to compensate, we suddenly had the unexpected release of CNC at a much lower difficulty putting it far higher than FTC on coinchoose.com, so miners simply jumped ship, that caused the difficulty on FTC to remain high, so more miners jumped ship.

merge mined coins like DVC and IXC won't die so easily :)

There will fall some of new scrypt based coins soon as they were all launched at almost same time (about 5 new coins in 5 last days). The new coins are fighting each other for afterlife (after nowdays pump & dump).

SHA-256 coins: imho Bytecoin is dying the most right now - and it will die or almost die sooner or later as it is just cheap copy of bitcoin. Another coin to maybe fall is Terracoin as there was huge issues with difficulty lately and Terracoin brings too few new features. PPCoin will persist imho as it introduced new sustainable POS.

Sorry mate. You lost out. Your FTC are sinking fast and soon to be worthless. Like one of the posters above wrote, FTC was a 100% perfectly executed pump-and-dump. Your pals who were singing the praises of FTC 2 weeks ago are now long gone and have left those naive enough to invest in FTC hanging high and dry. The community that was FTC is fast becoming a ghost town. It's over erk, it's over.

Seems like opinions are divided.

If you look at the people who have these opposing opinions, you will find the people who didn't buy into FTC and the pump-and-dumpers on one side, and the people who are left holding the fast-crumbling FTC in their wallets on the other side.

coins never die... the blockchain keeps on chugging away...

while some people have coins and others want to buy there will always be a market... and that what the price will be based on

I mined my FTC so they have been nicely profitable, and I will mine them again when the difficulty drops and they will still be nicely profitable, FTC is the 3rd most traded alt on BTC-e only beaten by CNC and LTC, way ahead of NVC, TRC,PPC, and NMC in volume of BTC traded for them(or dollar value if you want to work it out). If you call coming 3rd dead, then I can't help you.

I agree with all you said except that the people who pumped and dumped are not long gone, they are still among us and pumping the most recently released coins.  Some are so obvious as to state publicly that they are e-mailing the exchanges, twice a day, to get their wonderful new coin up for trade.  And by trade they really mean dump.

That's it. You really have to be a greedy fool to play that game.

I had meant that they had abandoned the FTC train, not gone from pumping and dumping ;)

Cheers

Just ask, does the new coin have any worth while new features that will make it more useful as a currency.
The people on the bottom of the pyramid of these coins will catch on one day.

Yep this will always happen though because of the way the coins are released. They enable ppl to grab a huge % at the start and this is the cycle you will always see. Lets hope future coin developers change this.
FTC is not all that useful because of it gives nothing new, try sending ftc to someone, takes about a week to get a confirmation these days. CNC on the other is quite useful i think it has something small to offer fast transaction speed is quite a good thing i think and will reach ftc levels and go past it very soon. Worth holding to a little bit of each and perhaps getting more at a super cheap price. Let's hope the exchanges dont allow more coins after seeing the way these last coins have been p and d.  They are still both over valued but can't see them going dead anytime soon and FTC has quite a following and dev is quite active.

If you can get your hands on  100k of a coin on day one you will never give it any value in your mind and just want to dump for another coin you do value asap, this is causing the problem. Although if you could get your hands on 100k and get in contact with others whom have a ton of coins and hold them allowing only a dribble out then you would do better in the end really and be better for the coin itself.

If you ain't first you're last

The network is dead !

That is hilarious.

my wallet sync without problems

nmc had a 30 day retarget so its still second ..lol

noone cares. everyone pumpin' and dumpin' YAC now... I wanted to understand why, so I pointed a few CPUs to YAC in the first hours after release. shut it all down after 8 hours and my wallet read 60kYAC... then suddenly people were willing to pay nice amounts of LTC for it in exchange... I sold out and made around 950LTC in 8 hours with no effort at all. at current difficulty my 1.4Mh LTC miner would need to run half a year on free electricity to achieve that... the people who bought my coins will probably sell it for double to noobs and then prepare for next weeks coin launch...

 ::)

Are there even real devs, or just ignorant script-kiddies who changed a few numbers here and there with no understanding of the code they were hacking at?

Long long ago namecoin ran into this problem of being left at a high difficulty by chainhoppers, so all the coins that were around back then put in fixes so it would not happen to them,

Bitcoin didn't bother to, bitcoin didn't even fix the timetravel exploit maybe, because bitcoin thought it was too big to be attacked that way and because bitcoin has such a huge user-base it takes two years notice to make such changes.

I do not know if litecoin made the fix, litecoin might not even have existed back then.

But DeVCoin, GRouPcoin and others fixed the problem.

Thus all recent coins should come already fixed out of the box, and with the timetravel fix too, since all developers in the cryptocoins field have been well aware of those problems and of how to fix them for over a year is it now, maybe a couple of years, maybe more?

So releasing a new coin without even those ancient problems being fixed is basically irresponsible, deliberately releasing a broken piece of code to make a fast buck instead of taking the time to at least include the fixes all the previous generations of developers had already included in any of the existing coins. Though I do wonder about litecoin, does it have the timetravel fix and a fix against this chainhopping problem or did it, like bitcoin, imagine it was too big to be effected by such problems?

If litecoin still has not fixed these problems, then cloning litecoin without fixing them is total bullshit rip off the users crap, since about the only good argument for making a new coin similar to litecoin is to improve upon litecoin, which starts with fixing the problems the litecoin people have not bothered to fix yet.

I would not be surprised though if it turns out that litecoin did have fixes and the script kiddies who arranged these recent scams were so incompetent they broke or undid the fixes.

-MarkM-

I can't speak to 'hilarious', however, we did make the adjustments:

http://www.feathercoin.com/netstats/

It died shortly after the massive premine was dumped. Then again after the many attacks on the blockchain. Then again, and again, etc.

It's getting there, probably be right in July.