Bitcoin Forum

I thought it was dying. What is with the growth, is it a pump or is there a legit reason for the rise? Thanks in advance.  :)

they pumping it and difficult just dropped  ;D

lol they talking about it on live radio http://www.livestream.com/lrnfm

FTC is broken.  You can't mine it.  I was on Big Verns pool and all his blocks are orphaned.  It shows he has 90% of the network as well.

huge pump sooner or later it will come down.

Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..

someone probably built their own block chain and mined it.  since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain.  The result is a ton of orphans as all the good transactions were wiped out.  Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.

That should be fun for all the btc-e pumpers..

well i bought into it, and now lost 4 ltc. At least i haven't got burnt as bad as other will.

So does that mean FTC is broken / finished - or can they fix things from here?

Technically, if what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)

Well depends on what the devs do.  They can try to replace the fake chain and that will orphan all FTC transactions from the point they fix the chain until the present.  That will probably require distributing the chain to dedicated miners and making it long enough that it beats out the current chain.  But that means they will wipe out legitimate as well as fake transactions a second time.  Basically the chain is hijacked and the coin is now worthless.  Someone is making a killing on the fake chain

So..FTC is basically a ponzi scheme now?

except that the new chain has several fake blocks added to the chain that make it win out.  That is why people had such a hard time getting confirmations and then all of a sudden several blocks appeared in seconds.  What that means is that anyone can come in and add their own blocks claiming all the rewards.  those are fake blocks so they will supersede real transactions so those transactions will be lost.

the majority of real miners will drop out because they don't want to risk getting all their rewards orphaned.  so the only miner will be the fake miner and a bunch of idiots who don't know better.

but shouldn't the price of FTC fall instead of rise??

now?

True, I mean, the majority ruled that fake blocks are allowed :) A bad thing :)

In this case, as in any case like this, the majority and fake block builders are the same individuals :)

http://forum.feathercoin.com/ is not loading for me for some time

Edit - Back up now..

when the news spreads FTC will be dumped.

but the majority is not made up of miners alone.  it is made up of participants, traders,   people who transact the coins.  how does this benefit them.  in this case they are dependent on a healthy network developed to protect against these attacks.

And FTC is still trading on the exchanges with this news? The exchanges haven't halted trading yet?

... And down again

It's a crazy world  :P

The ultimate strangeness is it's up 30% ... ??

Yes, I don't understand that either.

Also some big orders on btc-e: https://btc-e.com/exchange/ftc_btc (https://btc-e.com/exchange/ftc_btc)

btc-e has got to be asleep at the wheel on this one.  I can't imagine why they haven't immediately suspended FTC.  This is going to screw so many people when the "good" transactions are reversed. 

The only viable alternative I see for the developers is to try to rollback the chain. 

They aren't going to be able to take the chain back I don't believe without doing so. 

http://explorer.feathercoin.com/address/6tbxs8oikuwjmTFwnitNmfQWsBb1WgUg7s

its dead

Is there any way for them to get that on BTCe to dump it?

http://give-me-ftc.com minig seems to be down atm..

http://www.allouttabubblegum.com/main/wp-content/uploads/2009/10/Aliens11.jpg

game over FTC, GAME OVER

wel there are people certainly trying. I am sure they wont succeed

for sure, the block chain is considered valid.  So they can get the ftc on to btc-e just fine.  once they have the ftc on btc-e and have their transactions confirmed (by their won miners of course) they sell their ftc for btc and then there is no reason to keep the chain going they can just drop it.

One reason: Purely FTC mining is 'apparently' more profitable right now, so they'll continue to do that and steal money using the blocks until its less profitable than just mining BTC I'd guess.

What seems to be happening is people are trying to perform 51% attacks on the network. But that doesn't mean it's dead, that means it's getting more attention. The price continues to rise, the difficulty continues to drop, and the hash rate continues to grow, especially on p2pool.

In other words, all is going according to plan. As the difficulty drops and the price rises, more miners will join and the 51% attacks will become more difficult. Watching a coin get attacked on one day and declaring it dead is just silly. The community is rallying support in a major way, and while it's a little rocky ATM, the future is MORE than bright.

The first marketplace launches tomorrow at http://market.feathercoin.com and that's going to make the coin more valuable. http://bitgrenade.net has a VERY active FTC game that people are obviously enjoying, the community is growing like wildfire, and the developers are coming out with new features all the time. I don't call that dead by any stretch of the imagination.

Interesting. People on BTCe are saying their FTC hasn't shown up in 40 hours. They must be on that other FTC block chain.

I'll try sending 200 FTC.

My last chance to buy cheap FTC :)

I tried sending 10 FTC as a test and they show up but transactions are very slow. And they need 100 at BTC-E :P
But I have tons of FTC in my wallet :)

Also 105k PXC :) Another promising coin :)

I have 60 connections.

BTC-e has raised confirms to 100. This attack has failed.

Hmmm it would make sense for the attackers to not process as many transactions.  This would slow coins being sent to pools.

Woah!  That's a long time.

I did 8 transactions this afternoon. Only 1 reach its destiny, the others are missing.

It's not the 1st 51% attack on FTC. It will survive.

I mean the attackers can get their FTC onto Btc-e just fine.

 ;D How can I contact them to get my transactions confirmed.

FTC = IMHO CRAZY DUDE WITH AFRO!!! HE'S COOL!!! ;)

That was before the 100 minimum.

Well, my 200 FTC hasn't gotten any confirms by btc-e.

People buying ftc now have balls of steels  ;D

Be very careful with this FTC pump. If you are watching attentively on trade history, you can see that a lot of huge sell order were pulled, not bought.

hahaha +1

Looks like the attack was a complete success to me.

It's called denial.  FTC scammers want to be rich so bad they push out reality and replace it with delusion.

If you thought it was dying, then you probably best stay away from trading coins.


Kind of a bit late BTC-e, the block rate is back down to 2min 30sec, no point in 100 confirms anymore, just an inconvenience for their customers, and shows a lack of understanding of the problem. CNC is open to exactly the same kind of attack until it's block time gets down to normal, and it's still sitting on 6 confirms.


The solution is to use a list of trusted peers for confirmations.

Bet he's kicking himself he didn't dump those back when he was supposed to.

I sent 1600 FTC to BTC-e yesterday, and it's got >200 confirms now, but is not showing on BTC-e.

Something fishy going on, for sure.

So how does one get on the correct fork :/

I have stopped using BTC-e for FTC, they are hostile to it. I use Cryptsy for mining output, confirms of FTC deposits are nice and fast. Lets face it, who want's to wait for 120 confirms on the pool, then another 100 for BTC-e.

THat's the whole problem, I'm not mining at all and left the client running overnight. I just wanted my remaining FTC out. It's got 15 connections and it says it's "up to date", also the transaction shows up in the block explorer.

So what's the deal here?

Which they did. So now the attackers moved to DDoS the web site. Someone REALLY doesn't like FTC. But like any attack on Bitcoin, it won't last forever.

Probably the people that pointed the feathercoin.org page to the yacoin.org site. I know some yacoin people talk about using botnets to CPU mine.

Why are you trying to scare him without knowing what is up? A few days back I had sent FTC into Btc-e and it was stuck on 8 confirms (needed 10) in their deposit page even though in network was above 50. It got there eventually. Its an issue with Btc-e; nothing to do with forked blockchain bla bla.

Some people had earlier reported success by sending another small transaction to the same account. Maybe you can send 1 FTC and wait.