The crucial point though tends to come when the miners move on. How many months or weeks or days will it take for difficulty to come back down? How many hours or days betwen blocks in the meantime?
I will be very interested to see what happens at that point. I cannot imagine that it will be as bad as some others. With FTC it will be the worst ever because, you see, LTC is about to hit the Gox. Once that happens, your pathetic fork will be forgotten. Ohh, cruel destiny!  That's not what I see happening subSTRATA. There are people like myself who will no longer mine BTC and LTC, they are looking towards another coins. The amount of volume FC moves is puny compared to BTC and LTC, and that trend will continue once LTC is listed on Mt. Gox. Well FTC* is newer than BTC and LTC. The LTC volume is puny compared to BTC. I fail to see your point. because the hashpower should correlate to the expected volume |
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I wanted to ask too but did not want to derail the auction:) Did you spend them all? yeah. idk things kinda disintegrated with mybitcoin on top of the 2011 btc bubble. we might continue eventually |
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Just got an idea. I'll try to keep it simple. IdeaCoin will have a new block, say, every 2 minutes. The block reward starts off as something small, like let's say 5 coins. Now instead of the block reward halving after x amount of years, it doubles or increases by a random number in a specific range. Once the block reward reaches it's peak, it starts halving or decreases by x amount. Eventually the block reward decreases where very few coins are being mined. So basically, at the start, coins will trickle out slowly to prevent early adopters from gaining a lot of advantage over late-comers. This way a lot more people will get to know about the coin before huge amounts have already been mined. The support for the coin will be more established before a lot of coins are mined. Also, people will be expecting the block reward increase, so by then a larger pool of people could have mining rigs set up to take advantage of it. I know it doesn't offer much innovation over Bitcoin, but I think it's a little better than the last few alt-coins that were released. Maybe I can suggest it to some of the new coins being developed. Let me know what you guys think  I actually love this, A bell curve is a really clever idea... |
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It's ironic that so many of these arguments could be stated in exactly the same way in BTC vs LTC (The alt coin golden child) as LTC vs FTC.
Normally I'd agree, but at least LTC is different than btc, ftc is literally a near exact clone of ltc. Bitcoin vs litecoin bitcoin makes 50 (now 25) coins per block (same for both) block every 10 minutes vs 2.5 minutes based on sha256 vs scrypt litecoin vs feathercoin litecoin makes 50 per block vs 200 per block for feathercoin considering all these coins are divisible to really small amounts, multiplying the reward by 4 does basically nothing. I admit litecoin is a ripoff of bitcoin, all altcoins are, I honestly prefer btc just because it's the original, has very strong security and integration. I kinda like litecoin just cause it brought something new to the table. it's nice having trx confirm so quick and scrypt is nice, its peanut butter and jelly. feathercoin just has nothing to bring to the table and if I decided to say "I'll make a coin that makes 1000 coins per block!" and promised everyone I'd work super hard to get people to use it, it'd literally be no different. |
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When the difficulty goes high and profit drops, a lot of miners will leave and not many blocks will be mined until the next difficulty re-target. Same thing happened to Bytecoin I think, except it won't be as bad with feathercoin because of the lack of ASICs I guess.
idk, seems REALLY similar to tenebrix/fairbrix |
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I wouldn't really say LTC is an "alt currency"
It's like saying $5 bill is alt currency to the $10 bill.
That's totally silly logic here. Id consider 5 ltc is the 10 ltc equivalent of a 5 dollar bill, why on earth would you use a different currency to float the 2?? |
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[quote author =Noitev link=topic=189248.msg1981947#msg1981947 date=1367292627] If he gets a coffee mug, can I have a mousemat?
Wait.. which will sell for more on Ebay? hmmm..
I'll take a pen... None, but something more fancy later (within a month probably).  [/quote] aww, I'll totally need a pen one day and remember this! |
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If he gets a coffee mug, can I have a mousemat?
Wait.. which will sell for more on Ebay? hmmm..
I'll take a pen... |
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sent! 3c0c104d493bd82544ae8655a06814f177e0daac0122fcf07d977fb178b8eb62
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I'm not saying this to be a typical altcoin hater, but I don't get what makes it different from LTC other than it makes more coins per block... Can someone explain why anyone who believes in a scrypt based miner should use FTC over LTC?
If you like "your" coin, promote and support it. The Feathercoin guys seem to do a very good job building up infrastructure. The Litecoin guys seem to be pretty lazy. In the long run that might make the big difference. It's like with Pepsi and Coke. Both are essentially the same. Yet Coke has a way bigger market share. So which coin is Pepsi and which one is Coke in 10 years from now? Regardless of who works harder for their altcoin. I mean LTC has been around long enough to prove its worth, I think it's a bit too early to call who builds more infrastructure, especially since I feel like since this is all open-source, it's the communities responsibility to make the currency better, not just the developers. the point is that it is decentralized, most of the updates I've seen with altcoins just mirror bitcoin updates anyway. Also I don't get this notion of "Hey we based this coin on yours, We're going to work harder on it and arrogantly speak highly of it." I agree with the innovation note posted above. I like litecoin for that reason, it kinda just happened to be a nice mesh of scrypt and of faster blocks. This is literally just taking litecoin, making 1 small change that actually makes 0 difference, and promoting the hell out of it. I was asking if I was missing something. If it really is just a greater block reward, then feathercoin is just another dime a dozen altcoin. I'd be happy to back another altcoin and I'm ok with multiple currencies, it just seems to me that this isn't #3 to bitcoins 1 and litecoins 2. |
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They should work alongside each other.
if they both run scrypt, then why use one over the other? are they comepting for the same hashing power? |
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I'm not saying this to be a typical altcoin hater, but I don't get what makes it different from LTC other than it makes more coins per block... Can someone explain why anyone who believes in a scrypt based miner should use FTC over LTC?
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when I get mine, I'm probably just gonna offer some btc for a walk-through... Kinda too stupid for anything that isn't a plug in and play usb type deal.
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hooray! |
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that feeling when you have a 50.5 bid  |
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well still its not that much hashpower, maybe a 2-4% increase
50 x 10 Gh/s = 500Gh/s Network rate at the moment: 75,000 GH/s So its a increase of 0.0066% of the total network hash rate. yeah I just realized I misclaculated |
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Well organised John. Anyone know are there any further 10GHz blade auctions planned? Wondering how confident bidders are on the difficulty continuing to be favourable long enough to have made a modest ROI on these.. Will ASICs being delivered raise the difficulty 10x or is it less than this?
50 10 gh blades should change the diff at all considering they were used up to this point  At worst, I feel like the hardware value if received, could auction on something like ebay for more than the btc equiv here. I'm mining with it though The blades are _new_ blades, not used. .b oh, coolio, well still its not that much hashpower, maybe a 2-4% increase |
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I suggest the next auction should take place in a dedicated IRC channel, where a bot keeps track of the bidders with the highest bid, and bidders post bids in a standard format, so the bot can easily recognize them. Like:
2@48,1@50,1@51
would bid on a total of 4 devices at an average price of 49.25 BTC per device.
In a separate IRC channel, the bot could keep posting the current book of the highest bidders, for example every 10 seconds (perhaps every 1 second when the end nears), and no one else is allowed to write in this channel.
+1 also i think registering bidders is smarter so we dont get phony bids |
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For the $500,000(estimate) you guys just dropped, you could have developed your own ASICS.
Not in a week. .b wasn't it 50 auctioned or 100? |
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