Yes they can. This is a fallacy that has been floating around for a while now (that scrypt is ASIC proof.)

NOTHING is ASIC proof.  

1. Everyone wants to be an early adopter Feathercoin Billionaire.
2. FC price is overvalued right now so mining it is like 300% more profitable than Bitcoin mining, so all the miners are here trying to spark interest and demand amongst buyers.
3. Another scrypt coin I guess
4. Most FC supporters are new to the forums, and I think they see this as their get rich quick scheme.

*hides under his desk awaiting the barrage of Tomatos from FCers*

Lol.. Feathercoiners are such spam artists... they sit here bumping all the FC threads all day long trying to hype up their coin as much as possible because they own 100,000+ coins.

It's so sad everyone's willing to support ALT coins that just change a few lines of code and call it good. You guys will realize later on down the road when the crypto currency market is populated with 1000s of copy cat coins that this is not good for the community. It dilutes the value of crypto currencies, and makes them less useful and harder to implement into ecommerce.

My opinion is pretty much unbiased, as I currently own less than $150 worth of crypto coins. I am not trying to sway anyone's opinion to better my own position, this is just an honest observation.

*sharpens his pitch fork*

In all seriousness, I think everyone should just chill out a bit. BFL is currently shipping at such a slow speed and in only 5 Gh increments, so this should not affect our ROI much as long as Avalon starts shipping soon.

I think they are having problems with the installation/set up of their new production equipment.

Awesome  


No preorders! My investor and I are taking all risks of this project ourselves. I personally despise preorders from a customer standpoint, especially on a product that hasn't even been made yet, so I tried really hard to avoid this.

Litecoin's going to the moon regardless, but hopefully this will help push it in the right direction!  


PS to everyone: Cost per coin is tied to the US dollar. When I calculated the cost of each coin shown in the images, Litecoin was worth $2.50. So, hopefully Litecoin keeps going up up up, and I can provide these to everyone cheaper (in LTC) than I had planned.

Hi everyone!

I am here representing Cycloid, a member in my Batch 3 Avalon group buy. He would like to auction off his share of our investment, which totals to 63.1265 BTC.

Group buy information:
Original Thread: https://bitcointalk.org/index.php?topic=157930.0
Our Forums: http://yourcoins.org/forums/index.php?forums/avalon-group-buy.2/
Each investor owns a percentage of each of the seven 4 Module ASICs that were ordered.
Monthly dividends will be pad out to each investor according to their ownership percentage.
Dividends will be paid after electricity costs, any pool fee (yet to be determined), and my 3% hosting fee are taken out.
Total BTC invested in the group buy: 722.7025 BTC
595 Gh total from all Seven Avalons

Cycloid's Ownership Information:
Cycloid's ownership: 63.1265 BTC
Cycloid's ownership percentage: ~ 8.73478368%
Cycloid's portion of hash speed: ~ 51.971 Gh

The auction will last 3 days from the time of this OP (7:43 CST, 4/29/2013).

The starting bid is 100 BTC.

Cycloid should be posting with a reply shortly to confirm that he does indeed wish to sell his shares.

Thanks,

Ch

Aaand it's gone.   (back out of stock)

Also, a 7990 might not be the cheapest option per Kh, however I imagine they'll hold their value longer than the 7950 and 7970 series.

It seems like Avalon might not make a Batch 4.

I think them selling chips in bulk is their way of saying that they;re not going to do a Batch 4.

Feathercoin - "So useless you forget you have any!"

You'd think someone with your user name would be able to figure out that this video is bogus. It's pretty obvious the "BFL PCB" shown in the video is actually an ATX motherboard, this was posted as a joke. 

sent

I tipped JohnK .2 BTC.. I feel like if everyone were to do this, it would compensate him more than enough, especially with the 1% fee added to it.

Actually, I currently have less than 50 Litecoins. All my LTCs are wrapped up in Bitcoin ASIC pre-orders and/or I was broke so I had to sell them!

I just believe in it as a currency and a store of value, more so than any other ALT currency.

Ebay

Litecoin to me is useful and valuable to me in a lot of ways.

1. Diversification of one's cryptocoin portfolio. Someone such as myself that really likes Bitcoin can use other crypto currencies to diversify their crypto portfolio (this valuable trait is not specific to Litecoin.) Age old investing ideology comes into play here and this is just smart investing. Only investing in Bitcoin is like going all in on Google stock.

2. Litecoin being built upon Scrypt makes it stronger than most other ALT currencies, especially the ones that are SHA-256 based. If you look into the problems TRC is facing, you will see that ASICs are hoping on their chain and sending difficulty into the stratosphere. They then go to hash something else, leaving the TRC block chain moving at a snail's pace and transactions taking hours to days to confirm. All SHA-256 based ALT coins (that do not have Scrypt) will suffer from this problem until they are fixed.

3. Litecoin is useful to the crypto currency ecosystem in the way that it's useful to have Visa, MasterCard, and Discover Card... or Wells Fargo, Bank Of America, and Chase. Sure, they all do the same thing, but they all do the same thing a little bit differently. Also, if one were to fail, there are others in existance so all commerce would not screech to a halt across the nation. It is good for Bitcoin to have a competing entity that is similar but not the exact same to itself. For the benefit of free market competition, each currency will always be striving to stay ahead or to catch up to one another, at the end of the day mutually improving both currencies by default.

4. Litecoin confirms in 1/4 the time that Bitcoin does. This one is brought up the most often for obvious reasons. I am sometimes impatient and do not want to wait 10 minutes to a hour+ for one or ten confirmations on the Bitcoin block chain. Although in theory this makes Litecoin 1/4 as secure as Bitcoin, I personally have never suffered any problems using Litecoin. Also, Bitcoiners refute this point by stating Bitcoin will soon be faster as soon as the devs increase the block size (I think this is the method they are trying to use), but it is a lot easier said than done. If it was an easy thing to do, then it would have been done long ago. Litecoin is faster right at this moment, which is valuable to me.

5. Because blocks are found 4x faster, difficulty adjusts more quickly.. about every 3.5 days. This is useful because it controls the rate of the minting of Litecoins, and makes sure that they stay provably scarce for some time to come. Again, this is valuable because it stabilizes the network and deters high powered hashers from shooting difficulty into the sky and then leaving the network at a crawling pace for a longer period of time (than if blocks were solved at the same pace as Bitcoin.) This feature is not all butterflies and fairy tales, it also provides the opportunity to manipulate network speed, but as the network grows this will become less and less of a problem.

6. Then there is the "there's nothing to do with your Litecoins" fallacy. These people just don't do their research, there are plenty of things you can do and buy with Litecoin as of this instant. New merchants and services are popping up everyday, and I think this will continue to happen well into the future.

7. The Litecoin community is growing at an exponential rate. Similar to the growth of Bitcoin, as the community grows then so will Litecoin. Litecoin is already far too big and the people that believe in it are too invested in Litecoin for it to fail at this point. Litecoin can at this point proudly say that they are king of the ALT coins. It can no longer be brushed aside as a scam/pump and dump/whatever, it has real value and people are starting to see that.

8. Like Bitcoin, there was no Litecoin pre mine. There was the genesis block, and 2 blocks to confirm the genesis. This is valuable for obvious reasons... no one wants to support scammers, and for a crypto currency to become highly adopted this is a necessary feature.

9. Not everyone was so lucky to be around when Bitcoin was first started and able to buy them for pennies. The possibility of becoming an "early adopter" is very appealing to new crypto currency users. A ton of "noobs" have recently appeared in the last wave of Bitcoin mania and I've noticed that a lot of them overwhelmingly support and/or already use Litecoins.

10. As Bitcoins become more valuable over time, this will further push the poor and "working class" away from it. Some can no longer afford to buy one Bitcoin even at today's prices. People like to get more for their money, and when buying at today's exchange rate people can get more Litecoins than Bitcoins. If the same services and merchants start accepting Litecoins, then what is the purpose of paying $100+, $200+, or $300+ per bitcoin?

11. Litecoin has the advantage of doing everything after Bitcoin. By sitting and waiting in the shadows for people to bring to light exploits and bugs on Bitcoin, these problems can be fixed before there is much of a problem or before someone exploits it. Bitcoin would obviously be exploited first if there was something to exploit, because of the bigger market cap and it is more valuable for someone to exploit Bitcoin first rather than Litecoin.

12. Litecoin derives its value in the same way that Bitcoin does. It is provably scarce and its value is held up by supply and demand. Bitcoin had proven that this in itself can hold up an economy and even make it thrive. As long as there are new services and merchants accepting Litecoin (as there are), then demand should not go away. And... we all know by now that supply stays constant, thus giving Litecoin value.

13. It's anonymous.

I'm tired of debating for now, but I'll leave you with this:

The forums are always spammed with a bunch of threads when a new coin comes into existence. I've seen it a lot since I joined the community. There will be your google doc spreadsheet exchanges, threads about what it is, giveaway threads, threads about how it works, threads about this, threads about that. All those new currencies that came during the time since I joined have not become hugely popular or the early adopters rich or even close to it.

For a currency to be valuable there has to be development, and sorry FC... you're not there yet. I'll stick to BTC and LTC, two proven currencies that will be around for a while, and that I can actually use to do things, before gambling on week old currencies such as FC.

I may be your biggest critic now, but perhaps I will be your biggest promoter later. Develop sites, exchanges, and services and I'll think about it. A community of crypto coiners is nothing without developers. Until then.. FC is worthless to me.

+1

I'm just ready to get these things ordered. Don't jump ship or incite a mutiny at this point.

Exactly the point I've been trying to push home all along is that Feathercoin provides nothing of significant value...

We already have it. There are other coins that are smaller than Bitcoin and Litecoin that are much more developed, and more widely dispersed.

If I wanted to invest in something with value, I would look there first (PPC/TRC).. All the noobs seem to only be worried about being early adopters.

IMO- new coins that provide no innovation are a bane to the cryptocoin ecosystem, not a godsend.

With every new coin that comes out, all others will be diluted in value. Latley, there have been AT LEAST 2-3 new coins a month. This is a fast enough rate to dilute all other crypto currencies and make them valueless and useless.

I am agnostic because there are so many religions and who am I to know which one is legit? I fear new people to the cryptocoin community thinking the same thing when the list of cryptocoins is 5000 coins long. It will intimidate new users, and also be impossible to integrate all coins into ecommerce. Can you imagine having 5000 block chains on your hard drive?

It is because of this problem that I think we should only help, adopt, and develop the most promising coins. Coins that produce NEW ideas- not rehashed just change a couple parameters and call it a day coins. Yes, Litecoin could be called a "change a couple parameters and call it a day coin", however... it's already been done. There's no need to keep doing it over and over and over and over, other than the fact people want to become early adopters.

I'm not being whiny, I just like cryptocoins and I like to debate them.

Maybe one day Feathercoin will become as developed, have a lot of projects, and have as many users as Bitcoin and Litecoin.

But, today is not that day and I'm not going to invest a penny into it until there is some development for it. It seems like common sense to me, it's just smart investing. IF you went out and invested in every start up business you can find, you will go broke. But if you search around for the best start ups and the best business concepts, your investments will do much better.

There are many more cryptocurrencies that I haven't invested in that are MUCH more developed than Feathercoin, so it's hard for me to see you new guys' point. You guys are basically just all trying to be early adopters... it's silly and scam-ish.