[Critical Update] Feathercoin 0.6.4 - Hard Fork at block 33,000

[justabitoftime]

All this fork does is inflate the supply of FTC in circulation.

Seriously a difficulty adjustment cap down 10 times?

Lol

Price of FTC will crash...just watch lol

Take your profits folks. 

*Squeezes Cheeks*  My grandmother would love you when you make cute little statements.

[Buffer Overflow]

Finnaly SOME hope for this otherwise dying coin.

This fork just cures the symptoms of the dying coin, doesn't address the actual disease.

[erk]

Finnaly SOME hope for this otherwise dying coin.

This fork just cures the symptoms of the dying coin, doesn't address the actual disease.

And why is it dying oh wise one?

[smoothie]

Finnaly SOME hope for this otherwise dying coin.

This fork just cures the symptoms of the dying coin, doesn't address the actual disease.

Death by further inflation of coin supply (this new fork)

OR

Death by really low hash/transfer rate (current fork)

Pick your poison. There really isn't much other options for FTC.

[Kevlar]

Finnaly SOME hope for this otherwise dying coin.

This fork just cures the symptoms of the dying coin, doesn't address the actual disease.

Death by further inflation of coin supply (this new fork)

OR

Death by really low hash/transfer rate (current fork)

Pick your poison. There really isn't much other options for FTC.

That logic doesn't add up, nor does it match what has happened to other coins in similar situations. Feathercoin continues to be viable for the simple fact that it has a VERY active community who is leading it's adoption in all the same ways the Bitcoin community did in the early days of Bitcoin. I've watched the forums grow from 100 members to 700, I've seen it get adopted more rapidly in exchanges than any other coin as a result, and I continue to see massive progress with regards to both it's innovation as a coin and it's expansion through marketing and coding. This inflation you speak of is simply getting it back to the rate it was SUPPOSED to be at in the first place, and KEEPING it there. That's the reason for the fork, and that's the reason why it continues to be viable while other coins wither and die on the vine.

I've seen plenty of alt-coins come and go. I've never seen a community this strong in this short a time frame around one, and it continues to expand.

Don't believe? Don't buy it while the price is dirt cheap. Wait 3 months and see who was right.

[bushstar]

All this fork does is inflate the supply of FTC in circulation.

Seriously a difficulty adjustment cap down 10 times?

Lol

Price of FTC will crash...just watch lol

Take your profits folks. 

Smoothie, yesterday I saw a post where you said you were brutally honest and I thought, perhaps he really does think he is doing everyone a service, it is just a shame that he generally gets it wrong

Is response to exahash who pointed out a real concern that the recovery would be too slow. We do not want out coin to recover and jump straight back to the top of CoinChoose again for the reasons Smoothie said. We would rather it comes down to a more workable level so we can keep mining and supporting our coin while everyone else chases the most profitable coin. When I started mining Litecoin I did not do it because it was the most profitable. I did it because I believed in it and I enjoyed it.

[00400]

Death by further inflation of coin supply (this new fork)

OR

Death by really low hash/transfer rate (current fork)

Pick your poison. There really isn't much other options for FTC.

So basically FTC will die because you think it's crap. But then why do you folks care to pay attention for it?

[aikklond]

Finnaly SOME hope for this otherwise dying coin.

This fork just cures the symptoms of the dying coin, doesn't address the actual disease.

Death by further inflation of coin supply (this new fork)

OR

Death by really low hash/transfer rate (current fork)

Pick your poison. There really isn't much other options for FTC.

That logic doesn't add up, nor does it match what has happened to other coins in similar situations. Feathercoin continues to be viable for the simple fact that it has a VERY active community who is leading it's adoption in all the same ways the Bitcoin community did in the early days of Bitcoin. I've watched the forums grow from 100 members to 700, I've seen it get adopted more rapidly in exchanges than any other coin as a result, and I continue to see massive progress with regards to both it's innovation as a coin and it's expansion through marketing and coding. This inflation you speak of is simply getting it back to the rate it was SUPPOSED to be at in the first place, and KEEPING it there. That's the reason for the fork, and that's the reason why it continues to be viable while other coins wither and die on the vine.

I've seen plenty of alt-coins come and go. I've never seen a community this strong in this short a time frame around one, and it continues to expand.

Don't believe? Don't buy it while the price is dirt cheap. Wait 3 months and see who was right.

+1

[erk]

Current Network Hashrate    254,234 KHash/s
Current Block    32811

It's going to take days to get to block 33,0000, people just aren't interested in helping mine.

[bushstar]

Current Network Hashrate    254,234 KHash/s
Current Block    32811

It's going to take days to get to block 33,000, people just aren't interested in helping mine.

We have already been up at this high difficulty for a while now. Some people need to focus on what is profitable right now and I understand this. If we had the 504 block adjust already things would have started moving more quickly by now. This makes me feel positive about the future.

Once I feel that we have everything in place I will pursue getting some additional has rate to get us to 33,000. After that we will see another difficulty adjust not long after at block 33,264. This will bring us back on target

[NickCoin]

FC is traded on an exchange so unlike FC2 it should probably be taken seriously.

So Chinacoin should be taken seriously? YaCoin too?

Feathercoin is what I spend all my time on and I take it very seriously.

Totally love that line!

It's good to see someone behind the coin actually cares about it, not just because it's on exchange. Just like bitcoin, it's the community that drives growth. Among all new alt coins launched recently, this is the only one I respect!

[NickCoin]

@Bushstar, instead of reducing retarget time, have you considered making difficulty retarget dynamic so just it will adjust REALLY FREQUENTLY, something similar to Bitbar?

[bushstar]

@Bushstar, instead of reducing retarget time, have you considered making difficulty retarget dynamic so just it will adjust REALLY FREQUENTLY, something similar to Bitbar?

There are other coins out there that use or are planning to implement very responsive difficulty targets. This is great from a technical standpoint and I'm sure everyone is interested to see what the full effect of this means long term. If anyone of them proves over time to be best solution I'm sure other coins will make the change, it would be daft not to

What we have gone for with Feathercoin is a more conventional solution, that is more native to Bitcoin and Litecoin. This change will suit us for the foreseeable future and we can now start focusing on other challenges.

[digitalfog]

FC is traded on an exchange so unlike FC2 it should probably be taken seriously.

So Chinacoin should be taken seriously? YaCoin too?

Feathercoin is what I spend all my time on and I take it very seriously.

Totally love that line!

It's good to see someone behind the coin actually cares about it, not just because it's on exchange. Just like bitcoin, it's the community that drives growth. Among all new alt coins launched recently, this is the only one I respect!

+1  Oh...and I love BitBar!

[scurvy]

Current Network Hashrate    254,234 KHash/s
Current Block    32811

It's going to take days to get to block 33,0000, people just aren't interested in helping mine.

True, it does seem that way.

Right now the altcoin community has been flooded with dozens of clones and joke coins.

Considering that:

• many of us do have some FTC in our wallet, and therefore a vested interest in seeing it rebound
• FTC was one of only a handful of coins to show a decent profit on exchanges
• a glance at coinchoose.com right now shows no altcoins being more than a few percent better than mining BTC directly
  

Then hopefully some more folks will throw their otherwise idle mining at FTC for a day or two.

[the1silverwolf]

I'm very glad to see this update to FTC, I've been hoping for something like this to get the network going like it should again.

Keep up the good work guys!

[erk]

New fork should be called: FeatherCoin - Zombie edition

Your so smart, did it take long to think up that troll comment?



The current block rate is about one every 2 hours, not one ever 27min the stats page on feathercoin.com is erroneously telling us,  we are up to Block 32817, at my previous post in this thread 10 hours ago were were at block 32811,  so it should be early June when we hit block 33,000 at the current rate of hash decline.

I think we need to release 0.6.5 with the fork block set to 32850 that's ample warning.

[bushstar]

The network stats page us been updated to reflect the changes made. We are currently looking at three and a half days.

Network stats
Retarget Time and Next difficulty

[erk]

The network stats page us been updated to reflect the changes made. We are currently looking at three and a half days.

Network stats
Retarget Time and Next difficulty

That figure is totally wrong, FTC has only done 6 blocks in the last 10.5 hours. Your time per block calculation is flawed and out by a factor of 5 or more. It's most likely counting blocks that were done when the hash rate was much higher in the past. I suggest the Expected Time per Block formula be changed to calculate on the blocks done in the last 24 hours so as to give a more realistic estimation.

[bushstar]

It is averaged and the hashrate can be sporadic, the last day would not be a great enough sample. There is one user who turns up on a pools that makes a large difference when around.