seems strange the price is falling instead of rising.
Well hopefully that means the big miners will pull out sooner, so FTC can address the audience it was intended for. |
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One small thing, the last column of the My funds table on the right hand site says 总计 when it should say "Totals" in English.
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Great exchange, BTC showed up after an hour, trade went fast... but then I couldn't withdraw my FTC. Appearantly there's a limit of 200(?!?!) for withdrawls?
withdrawal limit has been decreased to 20 FTC. I'm also gioing to assume that 出错了，无效提现数额，或提现数额小于最低限，请重新输入。means that it really is 50 too, since that's the message that shows up when I try and take out 33. It means "Wrong, invalid withdraw cash amount, or less than the minimum amount of withdrawals, please re-enter" |
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With the rise of LTC and more recently FTC, why do these alt coins have value? I can only think of 2 possible reasons:
1) There is something fundamentally better about an alt coin and it will eventually overtake BTC. Thus the coin has value because people are speculating that a specific coin will overtake BTC.
2) Multiple coins can coexists and may even be used for different niches within the market. For instance, LTC may be used for in person (online) transactions due to it's speed.
Thoughts?
The coins represent work done, even if it only the work of thousands of people that are involved in getting you your electricity to run the coin mining machine, it's still work done by people somewhere in the process of creating the alt coin. |
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Site still down?
No, the entire outage was short I didn't even notice it. |
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...
BFL products are not priced in BTC, your analogy is irrelevant, you might as well have used the price of oil or gold as a comparison.
Yep, they were priced in USD, USD from 9 months ago. And you could have withheld those USD and ordered the BFL product when it was actually in stock instead of opting for a pre-order. Your money, your choice. |
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Great exchange, BTC showed up after an hour, trade went fast... but then I couldn't withdraw my FTC. Appearantly there's a limit of 200(?!?!) for withdrawls?
withdrawal limit has been decreased to 20 FTC. That's a minimum withdrawal or maximum? |
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when you are 6 months late and 100% ROI has gone from hours to months during that 'gap' people have a right to bitch........
Hours lol, how much do you think BTC was worth 6mths ago to support you claim? corrected to reflect days instead of hours. still a long way away from the ROI it will be when/if regular customers are seeking it from the units that were promised to be delivered in october. BTC was worth the same then as it is now, 1 BTC = 1 BTC. meaning if one invested BTC to acquire a device that allows them 'produce' BTC then that is how their ROI would factor. BFL products are not priced in BTC, your analogy is irrelevant, you might as well have used the price of oil or gold, or even LTC as a comparison. |
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If you want a good indicator of when all the miners will leave just wait and watch when dodg jumps off the pool, everyone will follow:  Why would you follow? |
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On withdrawing some FTC I was apparently charged a 0.2% fee - however I don't see any mention of this fee anywhere on bter.com
EDIT: I am however very glad to say decent quantity of FTC withdrawal was otherwise successful.
FTC has transfer fees just like other crypto coins, and it depends on the kb size of the transfer, my wallet is often charging me fees when I send FTC somewhere. So it would be crazy for an exchange that isn't charging transaction fees for trades, not to have some sort of a withdrawal fee, else the would have to fork them out of their own pockets. It would be nice to know what the exact fee is. |
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So much negative towards FeatherCoin..
It's the same trolls, they are already on my ignore list from trolling other sections of this forum. Feathercoin was designed to allow people with smaller rigs to mine something without feeling that they are being screwed by the professional giant mining rig setups. Ultimately that wont work, as the big rigs will just mine FTC until it's not worth it and move elsewhere. What would be nice is for the FTC mining pools not to allow anyone to dominate more than say 10% of the pools total hash rate. If people are prepared to make giant rigs to dominate, then they can also go to the effort of making their own private mining pool. Of course that would have little effect on the overall net hash rate, but it would give a moral boost to the smaller miners in the pool when they look at their stats. |
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To keep this simple lets ignore all of the people who pre-ordered last year. In your January update, you stated "if you order today, 13 January 2013, you would likely receive your order around the middle of March or possibly sooner if you're ordering a Jalapeno or a Single". If that had not been complete bullshit and a Single had arrived on time, it would have already mined almost 250BTC by now. That's over $30,000 at current exchange rates. Now imagine the people that pre-ordered a mini-rig in June last year... Lets do a reality check, back in January this year, BFL didn't know that their wafers would not meet the projected power figures as they hadn't received them yet. The unexpected higher figures only resulted in them having to totally redesign their entire ASIC product line that they had been working on for many months! Personally, coming from an electronics background, I would like to know the technical reason why the chips didn't meet the projected power figures, was it a simple calculation mistake or something else? |
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Here is the math he is doing:
say we have 2 units of processing power on LTC.
LTC pays out at 50 coins per block.
LTC is worth about $4.00
say we have 2 units of processing power on FTC.
FTC pays out at 200 coins per block.
LTC is worth about $1.00 (because 4x more coins are generated for the same amount of processing power, hence the 1/4 worth of the coin)
Except that doesn't take into account the complete lack of Feathercoin accepting services and stores, the fact FC only has 2 exchanges, the Litecoin community dwarfs the FC community by a large amount, and there are a ton more projects being developed for LTC than FC. This is exactly why FTC will rise and rise and rise. Implemented in major markets? = Price Goes up ATM you can trade FTC for CNY which is probably a better currency for stability. Get to be used as currency without conversion?= Price Goes up Difficulty Rise fast? = Price Goes up Eventualy Traded for USD?=Price Goes up easy no? |
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The FTC price is pathetic atm. about 0.0013BTC whilst LTC is 0.03BTC
FTC should be twice that, rising to around 0.25LTC when the difficulty matches LTC.
Not that I wouldn't enjoy that, but what makes you come to that conclusion, other than, "I said so" or "I heard it from others"? It's pretty obvious, it takes the same energy to mine an FTC block as an LTC block assuming they are on the same difficulty, but the FTC block gives you 4 times as many coins. So my thep33t coin, which happens to give 1337 per block, and same block rate as FTC should be worth, roughly, 1.337 LTC? No, it should be worth 50/1337 |
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The FTC price is pathetic atm. about 0.0013BTC whilst LTC is 0.03BTC
FTC should be twice that, rising to around 0.25LTC when the difficulty matches LTC.
Not that I wouldn't enjoy that, but what makes you come to that conclusion, other than, "I said so" or "I heard it from others"? It's pretty obvious, it takes the same energy to mine an FTC block as an LTC block assuming they are on the same difficulty, but the FTC block gives you 4 times as many coins. |
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If it jumps that high and the price doesn't go with it, I think a lot of people will jump ship and go back to LTC. I have been mining FTC with the sole purpose to convert to LTC at a 25FTC/1LTC rate because it's been more profitable that mining LTC. Without the increase in price, FTC would become less profitable.
Who knows though? FTC's price might triple and stay ahead of LTC. If that's the case, I'm going to regret selling all the FTC I had mined already.
The FTC price is pathetic atm. about 0.0013BTC whilst LTC is 0.03BTC FTC should be twice that, rising to around 0.25LTC when the difficulty matches LTC. |
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Not stable, been 2.66GHs 8hours ago, back down to 2.44GHs atm. |
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Yes but that means your coins are worth twice as much to you, since you have paid twice as much electricity for them.
-MarkM-
Unfortunately that's not happening, FTC is grossly undervalued on the exchanges atm. remember it takes the same amount of electricity per block as LTC, the only difference is the block yields 4 x more coins than an LTC block does, therefore FTC should be selling for LTC/4 and it most certainly isn't. |
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So how is everyone liking all those people trying to scare people into crashing FTC's by making a big deal of the upcoming difficulty? lol
What do you mean upcoming? The difficulty increase the last 2 days has halved my daily coin output, that's a fact not a scare tactic. |
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Keep in mind that mining profits would go up 10x as well.
ASIC's are not "the goose that laid the golden egg" as some people try to push that view of their effect on mining. It's a moving target, ultimately profits will come down to the energy cost per coin. There is nothing stopping BFL or Avalon re-doing their ASIC in TSMC's lower power 20nm fab sometime in the near future, and shifting the mining profit goal post yet again. |
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