Bitcoin Forum

This announcement marks the beginning of a new series of Feathercoin updates. Our intention is share the work we are doing with the wider community, we plan to release these updates every Tuesday between 1-4pm GMT. We may choose to change these times in order to reach a wider audience, there is a summary at the end of this post and a copy of this announcement can be found on our forum (http://forum.feathercoin.com/index.php?topic=3770.0).


Feathercoin is an innovation of values and began with a firm belief in sustaining the innovation that came before us. Because it's not about being first it's about being right and having the determination and commitment to see it through in the long term. We think people are more important than technology which we see as being there to bring them together. In fact we think the work that needs to be done now is to make the technology disappear. This is the Feathercoin team lineup as it stands:


Peter Bushnell (@Bushstar) 60hrs+
Chris Ellis (@Chrisj) 40-60hrs
Ruth B. (@Ruthie) 20-40hrs+
Mark P. (@UKMark) 20-40hrs
Dr Geoff Gibbs (@Entimp) 10-20hrs
Mark H. (@Nutnut) 20hrs
Svenn (@svennand) 20hrs+
Maria N. - Part Time but available on demand
@Ghostlander - Part Time but available on demand

There are many others who have worked incredibly hard. Special thanks to Sunny King for his continued support.

Our focus over the coming weeks will be to take a bottom up approach, getting Feathercoin and the crypto technology behind it out to the masses. The internet is like a map, in many ways it is jealous of the offline world. Add to this the fact that approximatly 2.5bn people in the world do not have access to financial services, with our low transaction fees and fast confirmation times, along with our SMS Wallet (see below) we are well placed to complement Bitcoin.

While he is not busy disintermediating the global payment networks, @UKMark likes to watch football & spend time with his family. So we are very grateful for all the time he has put in building the SMSWallet which means users in the UK and US (for now) are able to send and receive Feathercoins over the SMS network, independently of the internet.

This is an important part of our strategy to bring Feathercoins to the wider population with plans to start rolling our a pilot to the homeless in London UK later this year. More work needs to be done on the usability and we are very grateful to our early adopters like Erika who take part in our usability studies:


Our second Feathercoin meetup was huge success, we had many people turn up including Svenn who came all the way from Norway and many others coming in from across the country. If you want to get involved please sign up to our meetup group (http://www.meetup.com/Feathercoin/).


Our intention here is to create real world connections with small businesses and the local community in order to work from the ground up. We believe that the ground level is the best perspective of all, this hyperlocal approach is going to help characterise us in the next year. You can expect to see the video of the event in the next few weeks, we hope it will help to involve the wider world in to this movement.

Beginning in London and Oxford UK once we have a workable model the plan is to scale out the same format the world over. We believe that our power comes from our global reach and we plan to put a lot work in to increasing the diversity among Feathercoin users.

Which brings us nicely on to an improvised project by @tuneman1980 and I who asked the community on our forum for their real world locations (http://forum.feathercoin.com/index.php?topic=3674) which we have compiled in to the Feathercoin Global Map as part of our drive:


We are focussed on developing our strengths and one of things that really defined us early on was the entrepreneurial spirit  and it still does (http://forum.feathercoin.com/index.php?topic=3689.0), which combined well with a generous atmosphere within the wider community (https://twitter.com/arfab/status/382080343672487936). There have been many bounties, much free time and community support.

We really want to push this further with our Feathercoin Kickstarter project. It will be rough, it will be dirty but there is still time for you to have your say (http://forum.feathercoin.com/index.php?topic=3687.0).

The Feathercoin Market Place is currently undergoing some maintenance after the initial round of feedback. Bushstar and Maria are working hard to build a Feathercoin Online Wallet with Escrow facilities.

The latest Feathercoin version 0.6.4.4 is now available and is a mandatory update. This update includes a hard fork of the block chain to accommodate the changes made in this patch. This hard fork should happen roughly around the 1st October which is only a week away.  To be able to send and receive Feathercoin after block 87948 you have to use the new client. Continuing to use old clients after the hard fork could result in the loss of coins.

Primarily this update is to further the refine of the difficulty adjust. Though the current Feathercoin difficulty which we changed to get us out of a tough spot it is not fair for long term miners who have to experience 41.4% swings on every adjust. The new code will adjust four times more frequently at 126 blocks but to approximately 9% which still gives the exact same overall adjust. To prevent the difficulty from being sent up or down too rapidly the current 504 sample window is being maintained and damping is being introduced to reduce fluctuations between extremes.

There have been long running discussion and arguments on the Feathercoin forum including simulations of various different options surrounding this solution. Feel free to take a look at the latest discussion here (https://forum.feathercoin.com/index.php?topic=3447.0).

To get the latest update please go to the Official Feathercoin Website and download the client from the homepage.

Official Feathercoin Website (https://www.feathercoin.com)

Changelog:
Move to 126 difficulty adjust with 504 averaging window and .25 damping
Reduce effectivness of Time Warp attack
Reinstate CAlert system
Make getnetworkhashps more accurate
Release Windows binary with QR encode

We have faced some big challenges, we stumbled along the way but we got back up and and we are here to stay. It's not the mistakes that will define us, it is how we grow from them. If you want to join us on our journey the only thing that needs to qualify you is how much you care! You need a passion for currency choice and you need to believe in Feathercoin. Come say 'hi' on the forum (http://forum.feathercoin.com).

Follow us on Twitter @Feathercoin (http://twitter.com/feathercoin/) where we are very active.

Thank-you for your time.

Great to see all the hard work that is going on. Keep it up and keep us all informed.

hah, muppet show

I dont know about you, but I see real enthusiasm, real people, real progress, real coin :)

i see dead people...and it got me a movie..so who knows maybe you have some future

There is nothing in Africa  >:(

It's a dead coin  maintained with volume on btc-e, just enough good to pump and dump quickly, nothing more. If btc-e adds new coins, this copycat coin will be dead for good.

Sure, sure, FTC is dead, thats exactly why MCXNow just added it today.
Jesus...

Haters will hate, and unfortunately rarely offer up sensible and reasoned arguments. The FTC community work hard and do so despite all the folk who have nothing but FUD to accompany their loneliness.

Again, awesome work!

mcxnow the winner with much volume like MtGox, it's a big reference... lol

Wow, super professional write up Chris.  Lot's of exciting things coming.  I'll definitely be looking forward to this each week.

WOW...mcx...

a Legit? business...

I'm reading that I have to update the FTC Wallet to the new version. Is this by downloading the new one? Or will I loose my wallet (and my walletaddress) by doing this?

That´s why I decided to keep mining this coin, a real hard work, and some real faces, support and marketing, this must work out.

Just download new one. You will not losse your coin.
To be 100% sure, backup wallet.dat file on flash drive just in case u screw something up :)

Thanks so much for your support.

Also I suggest to take a look at Svennand's epic trip from Norway to Oxford FTC meetup:

http://forum.feathercoin.com/index.php?topic=3759.msg29045;topicseen#new

Koolio captured on photos inside  ;)

Again great work Chrisj, as always! Keep it up :)

If you download and install the new one, your wallet and address will still be the same,  don't forget to back up your wallet beforehand through the client 'file, back up wallet'

It's great to see FeatherCoin going in such a positive direction. If you learn anything in your life it should be to value the constructive power of people working in common purpose. I noticed FeatherCoin about 4 months ago. What drew my attention was the community behind it rather than the project they were all involved in. I invested rather significant funds into the coin when it was at its lowest because I understood that this project was a medium in which the collaborative energy of ordinary people could be harnessed into shaping a successful coin. I own Litecoin, but I would back FeatherCoin over it in the long run solely because I see people behind FTC. I see the daily work being done on the coin. I see the forums overflowing with ideas and projects to enrich not only the currency, but the conditions of so many other facets of politics, economics, and society. This gives me confidence that there is a community of concerned, intelligent, and creative people working together. This is what I value. Only so much of this is about money or finance. To me this is about people, freedom, and self-determination.

Keep up the stellar work guys!


-Atlas

don't you guys have your own forum?

Thanks for the help! I've got the new version now and my balance remains the same. Thanks! :)


I think FeatherCoin is (besides of LiteCoin) one of the few coins other than Bitcoin which has potential. Keep up the good work!  8)

Is this not the Alternate cryptocurrencies thread area?

Oh yes, we do, its at https://forum.feathercoin.com, you should come over and say 'hi' new members always welcome :)

Haha love it ;D

then go there and be gone..or say hi , circlejerkers

Nice see you being man enough to not hide behind some vernacular.

Great post! Ive had interest in FTC for some time now and its great to see something like this! It really shows that this is a growing project with continuing support instead of just being just another coin (which there certainly seems to be quite a bit of these days!)

whats your problem?
this is not the first time you attack feathercoin...
dont have anything better to do? have we hurt you in any way/form or shape?

have a good day :)

hey Atlas :) Great to hear from you and thanks for your kinds words, hope you're well?

I'm just curious as to why John M. (justabit...) has basically gone silent on FTC. Supposedly cashing out all of his FTC after stating many times he is so "glad" to be invested in FTC then a week or two later selling out all and basically going silent on the FTC forums.

Also, are the FTC devs going to keep scrypt as the mining algorithm or change it? Very curious about this.

I don't see how they could change this without causing massive distrust of the coin.

You were on the thread where he gave his explanation on the Feathercoin forum and his email in the footer. He has also said this:

2 Weeks Ago JustABitOfThough said "Glad I got out of ltc around 3.30. With Gox continuing to lose market share, rough road ahead for ltc."
http://trollboxarchive.com/byid.php?id=15387603

Let's not pretend like this whole domain isn't full of people making unfalsifiable claims about their 'holdings'. Mostly people just say whatever they have to to suit their port folio. Not saying that's what's going on here with John but it's the reason why I don't pay attention to claims like this.

Thank-you. I think you are probably one of the few people who actually read the thread rather than just seeing the word "Feathercoin" and reacting.

Yea I wondered the same thing. On top of that it's been quietish in progress the pass few days before this weekly update. I was actually about to post asking about what's been going on in the background lately and then I saw this to answer my question haha. Great to see all the progress that's being made. :)

Good job guys!

Dont see why we would not want to stay on scrypt.
Given the current situation with fpga compliant equipment merging up (Koolio) i feel scrypt is a good place to be now.

the fpga delivers good hashrate for low power, but they are priced quite higher than GPU´s given the same hashrate.
This means people purchasing equipment are in it for the long haul (Investment/ROI), which secures and benefits everyone into a scrypt currency.

Also given the security of ACP, it no issue that people have LARGE fpga farms either. No more 51% attacks.

What happened to justabitoftime?

What did he learn that made him sell as his coins and run away from the community that HE BUILT?

I bet that's a great story.

Don't know if this is true or not. If it is, maybe the ones screaming pump & dump were right after all.

He wanted everything to fast. He is completely responsible for UNOCS which was a big fail.
Now he dont have almost any influence on FTC and he lost trust of most members.

FTC is now taking continuous and steady steps in developement, instead of justabits superhype.

Good job in responding to the underlying assumption, in this case that he 'learned something' that apparently made him sell.