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

[bushstar]

The stats page has now been updated to get the block time and retarget time from the last 120 blocks so not always the last retarget. If the retarget is less than 120 block before the current block, then it will count back to the retarget.

http://stats.feathercoin.com/

Expected Time per Block   0 day(s), 1 hour(s), 7 min, 41 sec
Time to Retarget   7 day(s), 8 hour(s), 0 min, 42 sec

[flound1129]

A 41% drop in difficulty is not going to be enough to get the profitability to a point where people are going to start mining this again on a large scale unless the price rises..  Maybe after the second adjustment.

[erk]

A 41% drop in difficulty is not going to be enough to get the profitability to a point where people are going to start mining this again on a large scale unless the price rises..  Maybe after the second adjustment.

That's right, I pointed it out earlier, most likely some time in July the block rate will be attractive to miners again. The next change will bring down the time between blocks to around an hour, and there are over 500 blocks to do until the change after that, which will be late June, but it's arguable if that difficulty will be good enough so yet another change will most likely be required putting it well into July.

[smoothie]

This is a complete repeat of what happened to name coin in summer of 2011.

Making changes like this fixes nothing really.

Prepare for the FTC price drop as the diff adjust is capped on each adjustment.

[rosefox911]

FTC can be profitable again, diff just needs to drop, A LOT.

[Buffer Overflow]

FTC can be profitable again, diff just needs to drop, A LOT.

Remember, you'll need to find some sucker to buy them off you as well. Good luck with that.

[erk]

Remember, you'll need to find some sucker to buy them off you as well. Good luck with that.

There is no shortage of FTC trades on BTC-e.

[Buffer Overflow]

Remember, you'll need to find some sucker to buy them off you as well. Good luck with that.

There is no shortage of FTC trades on BTC-e.

I was referring to profitable trades.

[erk]

Remember, you'll need to find some sucker to buy them off you as well. Good luck with that.

There is no shortage of FTC trades on BTC-e.

I was referring to profitable trades.

That's a function of mining difficulty more so than just price. Atm you would be mad selling any FTC you mined whilst the difficulty was, high, in fact you couldn't as it hasn't had 120 confirmations yet if it was mined in the last week or so. Most of the people mining today are just trying to push the blocks to 33,000 to trigger the new difficulty, I am sure the know the coins are not profitable at the current price.

[YipYip]

The stats page has now been updated to get the block time and retarget time from the last 120 blocks so not always the last retarget. If the retarget is less than 120 block before the current block, then it will count back to the retarget.

http://stats.feathercoin.com/

Expected Time per Block   0 day(s), 1 hour(s), 7 min, 41 sec
Time to Retarget   7 day(s), 8 hour(s), 0 min, 42 sec

Just to add insult to injury

Every feathercoin site including ben hohmer stats has a MAL/Get h virus warning from SOPHOS from work etc

High Risk Website Blocked
Location: stats.feathercoin.com
Access has been blocked as the threat Mal/HTMLGen-A has been found on this website.
sophos anti-virus

It might be a false positive but oh well .. u now have aids as well ... hows life at the top at the moment ...a new coin  was not meant to be easy then u get aids and die ... lol

[bushstar]

The stats page has now been updated to get the block time and retarget time from the last 120 blocks so not always the last retarget. If the retarget is less than 120 block before the current block, then it will count back to the retarget.

http://stats.feathercoin.com/

Expected Time per Block   0 day(s), 1 hour(s), 7 min, 41 sec
Time to Retarget   7 day(s), 8 hour(s), 0 min, 42 sec

Just to add insult to injury

Every feathercoin site including ben hohmer stats has a MAL/Get h virus warning from SOPHOS from work etc

High Risk Website Blocked
Location: stats.feathercoin.com
Access has been blocked as the threat Mal/HTMLGen-A has been found on this website.
sophos anti-virus

It might be a false positive but oh well .. u now have aids as well ... hows life at the top at the moment ...a new coin  was not meant to be easy then u get aids and die ... lol

Thanks for that Sophos. I will speak to them about this, funnily enough they are not far from where I am. Perhaps I'll drive over and bang on their door

[bushstar]

To get things moving along I have started a 10BTC bounty.

https://bitcointalk.org/index.php?topic=210854.0

[justabitoftime]

To get things moving along I have started a 10BTC bounty.

https://bitcointalk.org/index.php?topic=210854.0

Adding a 5BTC speed bonus bounty on top of it.

[Sherkel]

I've been "out of the loop" lately and I'd like to ask what specific merits FeatherCoin has. From what I can tell on BTC-e, it's attracted both a lot of hype and a lot of doubt. Why should I mine it? Why should I buy it?

[sadface]

main reason for me is the active dev that puts a lot of effort into ftc

[Kevlar]

I've been "out of the loop" lately and I'd like to ask what specific merits FeatherCoin has. From what I can tell on BTC-e, it's attracted both a lot of hype and a lot of doubt. Why should I mine it? Why should I buy it?

For all the same reasons Litecoin has merit. It's essentially a Litecoin fork, but it targets faster transactions making it more suitable for the internet where people expect purchases take the time required to reload a web page.

It ran into a serious problem when the difficulty shot up due to a massive first wave of interest, but the community supporting it has remained VERY strong. To address this, the developers did a hard fork exactly the same way Bitcoin did one recently in order to introduce a more responsive difficulty retargeting, while being very careful to not allow it to plummet too fast. This, coupled with a massive marketing campaign has lead to a resurgence of interest in the coin, since it is effectively the best of all worlds (the security of bitcoin, the quickness of litecoin), because it continues to innovate and has a community that makes it relevant and is rapidly pushing adoption.

You should buy it because we've already hit the floor with regards to the price, and now that it's relevant due to the hard fork and interest is surging again, the price is going to continue to rise. New services are already in development for it, and it has the technical necessary and the community support to see it continue to gain rapid adoption.

You should mine it for the same reason, AND because there's bountys attached to mining certain blocks in order to help it reach the hard fork and retarget difficulty, AND because in another few days when difficulty drops the amount of coin you can earn will increase. All of this equates to profit. Some people look at the price and go "No, it's not profitable." Those same people are still pissed they didn't buy BTC when it was $13 dollars a coin, because... that's right... it wasn't profitable.

Look at the technical. Look at the community (Feathercoin.com forums just passed 800 registered users and it's been up a month). Look at what's happening with it's adoption. Look at the price over the past 2 days. Look at what's about to happen when we reach the hard fork (hint: more miners). Look at what happens to a coin when more miners jump onto it, and a large community presses for it's rapid adoption. Then decide for yourself what you should do.

[Sherkel]

Thanks for your reply. I think I'll invest in some at my own risk.

[Buffer Overflow]

Look at the technical. Look at the community (Feathercoin.com forums just passed 800 registered users and it's been up a month).

Mmmmm, doing a little research disturbingly reveals a very large percentage of those 800 members are actually inactive accounts. (Registered days ago, but no posts.)

I strongly recommend people take some of these facts and figures with a large pinch of salt.

[bushstar]

Look at the technical. Look at the community (Feathercoin.com forums just passed 800 registered users and it's been up a month).

Mmmmm, doing a little research disturbingly reveals a very large percentage of those 800 members are actually inactive accounts. (Registered days ago, but no posts.)

I strongly recommend people take some of these facts and figures with a large pinch of salt.

We have had 62 people register today and yesterday. On posts slightly less than half the user base have made at least one post. Users have to post at least once in the newbie section to post elsewhere. If the number of users not posting is higher than average then I will look into ways to make sure people find the newbie section.

I'd say you are a bit grandiose there with your disturbing research.

[Kevlar]

So it has no advantages over Litecoin, it came out just from pure greed, from desire of being an early adopter.

Don't you get it? You're literally witnessing the next generation of entrepreneurs invent themselves. These guys are putting their time, energy, and money into building a community, pushing adoption, providing leadership, increasing effectiveness, and doing everything they can to make it successful. As a result the value of their stock is increasing. What they've done is figured out a new way to start a new form of business while bypassing the existing bureaucracy and governance, and the free market of which you are a voting member will decide their fate. This is the early days of the internet all over again where anyone with a bright idea can make a quick buck, but those with the patience and skills to see it through the long haul will be rewarded on the long tail... and good on them for doing so I say. Capitalism wrenched from the hands of the elite and put back in control of the people, by the people, and for the people. All business owners are early adopters. Labeling that as "pure greed" is shortsighted to say the least. I say what better way to make a dollar?