[ANN] Feathercoin to partner with other leading alt currencies

[kelsey]

How about doing a new video on how FTC was 51% attacked 3 times, forked, had thousands of coins stolen, and then afterwards was heavily manipulated and artificially overvalued by a few individuals.

+1

[Loktera]

SMH all these things being done for feathercoin could have been done for Litecoin.

The Litecoin Project does not do shameless self-promotion and pumping of its value because we feel it would be improper to do so.

Then why is it now valued by some at a non zero amount? You guys from day one pumped it as the lighter version of bitcoin, many a time your team as tried to infer to the  public that your coin is in someway endorsed by bitcoin, and thats the only way its ever achieved any percieved value.

Attempting to further cryptocurrency from a technological standpoint ≠ attempting to pump market value.

Your claim as to why the market values LTC is pretty audacious; I've never heard BTC endorsement touted as a reason for it's valuation.

[butjust41day]

What's different about FTC is it was the FIRST scrypt LTC clone without innovation! First makes it legit. Everyone knows the first copier is okay.

Your kidding right? "without innovation! First makes it legit." .....It's the complete opposite!

[justabitoftime]

People use the term 'premine' because it's easier than explaining what actually went down, which was an unfair distribution of coins.

I always found it amusing that FTC was claimed to take after LTC because the dev was enamored with what the LTC devs had done with their coin, but FTC actually is different from LTC in one crucial way.

LTC focused on a fair to everyone launch where the miners had plenty of time to see the post and prepare their miners. Let's not forget that GPU mining didn't exist at the time for scrypt, and despite that, FTC starting difficulty remained the same.

I figure I should chime in. Now that Litecoin is almost 2 years old, most people don't know or have forgotten how much effort I put in to make sure that the Litecoin launch was fair. I think that's one of the main reasons why Litecoin succeeded and why most of these recent alt coins will fail.

See the chart for the first week of Litecoin? http://cryptometer.org/litecoin_90_day_charts.html
Notice the days between the first 2 blocks and the 3rd block? Looks strange and none of the other alt coins have this. This is because I mined the genesis block and another block to confirm it, and then released the source code and binaries. People had almost a week to look over the source code and mine some Litecoin testnet coins to make sure the everything works. And they can decide whether or not they wanted to mine Litecoin from the start. Then at the community-voted launch date and time, I released the hash for the genesis block and pretty much everyone started mining at the same time.

This is pretty much as fair as I could possibly make it. It's too bad that all these new coins copied the Litecoin code but not the launch process.

Speaking as John, not for Feathercoin, we have a very different idea of free market principles. FTC was not premined, everyone that wanted to participate in mining the coin had an opportunity when it was posted. For those that chose to pass, fantastic.  Personally, I came later to the party. I purchased my FTC from a few of the known members here and decided to contribute to the project after the fact.  

We have quite a few interesting projects in the Feathercoin community, feel free to stop by and say hi. Many of our members also hold Litecoin, I'm one of them.

" think that's one of the main reasons why Litecoin succeeded and why most of these recent alt coins will fail."

We'll have to agree to disagree. As we talk with merchants, that's certainly not the words coming out of their mouths. They want great merchant tools, support and an easy way to provide products to their customers.  Personally, I wish you the best, I'll leave it at that.

John

[wtogami]

I started here in March 2013.  I am not fully aware of the history of Litecoin as I wasn't around.  I can guess that some mistakes were made earlier, although you don't point to any particular examples so I don't know.  There were previously a few people who claimed to be Litecoin devs who were either removed for malfeasance or never were Litecoin devs.  In any case, this newly organized team is ratifying the principles of vendor neutrality and has the primary goal of defending the Litecoin network.  Anything outside of that is up to other individuals or companies.

[Loktera]

Speaking as John, not for Feathercoin, we have a very different idea of free market principles. FTC was not premined, everyone that wanted to participate in mining the coin had an opportunity when it was posted. For those that chose to pass, fantastic.  Personally, I came later to the party. I purchased my FTC from a few of the known members here and decided to contribute to the project after the fact.  

My problem is with the bolded statement. If by everyone, you mean everybody who happened to check the bitcointalk forums in the first 7 hours, then sure.

Early adopters of BTC and LTC have been rewarded not for just being lucky, but because they saw potential and devoted a significant amount of time/effort/energy towards the projects for months (or years). Early Feathercoin adopters have been rewarded for happening to have been in the right place at the right time, on a single day in the year 2013. This is significantly less fair to anybody joining even a day late, and provides poor incentive for further adoption as a currency.

[coblee]

SMH all these things being done for feathercoin could have been done for Litecoin.

The Litecoin Project does not do shameless self-promotion and pumping of its value because we feel it would be improper to do so.

Then why is it now valued by some at a non zero amount? You guys from day one pumped it as the lighter version of bitcoin, many a time your team as tried to infer to the  public that your coin is in someway endorsed by bitcoin, and thats the only way its ever achieved any percieved value.

I have no idea what you are talking about. I (or the Litecoin dev team) have never claimed that Litecoin is somehow endorsed by Bitcoin. And the value of Litecoin has nothing to do with whether or not it was endorsed by Bitcoin.

[joinmicah]

This is the BEST Post-Mined Altcoin because it is the Only One with a Cooperative Attitude where everyone should help each other instead of bashing the other ALT Coins just because we may have more of another coin and want the competition to fail... Why do many people have a ELITE Mindset there is more than enough room for all Cryptocoins to be Traded on the Market Openly... We need to GET AWAY from FIAT Money like USD, CAN, ect and start moving more money to SILVER and GOLD and FTC, LTC, PPC, BTC, Those are the ones that will make it!

[aysyr]

This is the BEST Post-Mined Altcoin because it is the Only One with a Cooperative Attitude where everyone should help each other instead of bashing the other ALT Coins just because we may have more of another coin and want the competition to fail... Why do many people have a ELITE Mindset there is more than enough room for all Cryptocoins to be Traded on the Market Openly... We need to GET AWAY from FIAT Money like USD, CAN, ect and start moving more money to SILVER and GOLD and FTC, LTC, PPC, BTC, Those are the ones that will make it!

Glad someone understands, too many people are "competing" with their coins as opposed to just letting their coin become what it's meant to be; an alternative to fiat.

[Sunny King]

Actually as the lead developer of PPC I have always been calling for cooperation between altcoin developers, as a larger team in the big picture. I have helped NVC and TRC with their problems before FTC was born.

FTC's community is sort of like those of litecoin's, loud, energetic. Peter has been a good leader. I am actually quite open to possible cooperation with FTC team.

This is the BEST Post-Mined Altcoin because it is the Only One with a Cooperative Attitude where everyone should help each other instead of bashing the other ALT Coins just because we may have more of another coin and want the competition to fail... Why do many people have a ELITE Mindset there is more than enough room for all Cryptocoins to be Traded on the Market Openly... We need to GET AWAY from FIAT Money like USD, CAN, ect and start moving more money to SILVER and GOLD and FTC, LTC, PPC, BTC, Those are the ones that will make it!

[GoldBit89]

This is the BEST Post-Mined Altcoin because it is the Only One with a Cooperative Attitude where everyone should help each other instead of bashing the other ALT Coins just because we may have more of another coin and want the competition to fail... Why do many people have a ELITE Mindset there is more than enough room for all Cryptocoins to be Traded on the Market Openly... We need to GET AWAY from FIAT Money like USD, CAN, ect and start moving more money to SILVER and GOLD and FTC, LTC, PPC, BTC, Those are the ones that will make it!

Glad someone understands, too many people are "competing" with their coins as opposed to just letting their coin become what it's meant to be; an alternative to fiat.

If another coins "true" mission is to be alternative to fiat then it would want the other coins around it to succeed too.Its pretty clear some of these coins do not care if they are an alternative to fiat and are in it just for a quick pump and dump buck.Some of these "other" coins are nothing more then their launch webpage , that never gets updated, no client upgrades(unless other coins make them),No marketplace,No promotion and have moved on to the next pump and dump leaving a webpage as a wasted space, or the next converted pump and dump copy and paste. Now you look at the coins that are trying to promote a alternative to fiat and that are actively working to do better things(Feathercoin,Litecoin,Bitcoin,BBQcoin(reviving the original),and many others.) I hold coins in all those and my favorites are Feathercoins and a newly launched one Bottlecaps(i am a avid Wasteland/Fallout Gamer).Feathercoins=Great community, a marketplace,active goals to be still standing (when the "dust" settles), Bitcoins=Goal of continuing what was built and continuing to fight for the alternative to fiat cause.(do you think court battles and Multiple shutdowns are cheap?),They fighting for a reason--Governments hate these coins in general as they stand to lose their"luxury nest egg" that they have held for so long. So why are these other coins so active on fighting other coins to fail and not be active on why the coins should be aligned together united to fight the fight.No one coin is perfect, just like businesses in real life--not a single one is perfect.And just like in real life, someone will always disagree about something, and that is ok and is your right. I just say be constructive with it at least.

[worldinacoin]

SMH all these things being done for feathercoin could have been done for Litecoin.

The Litecoin Project does not do shameless self-promotion and pumping of its value because we feel it would be improper to do so.

Then why is it now valued by some at a non zero amount? You guys from day one pumped it as the lighter version of bitcoin, many a time your team as tried to infer to the  public that your coin is in someway endorsed by bitcoin, and thats the only way its ever achieved any percieved value.

I have no idea what you are talking about. I (or the Litecoin dev team) have never claimed that Litecoin is somehow endorsed by Bitcoin. And the value of Litecoin has nothing to do with whether or not it was endorsed by Bitcoin.

I was here when Litecoin was setup, following the failure of fairbrix and tenebrix, the founder did a tireless job of promoting and updating Litecoin, it isn't here for nothing, a lot of efforts have been put in by the founder

[smoothie]

SMH all these things being done for feathercoin could have been done for Litecoin.

The Litecoin Project does not do shameless self-promotion and pumping of its value because we feel it would be improper to do so.  The ONLY role of the reference project is to protect the security and stability of the network.  The reference project must also never endorse or be unduly influenced by any vendor as it would create unnecessary drama from the perception of conflict of interest.  If the coin is properly maintained by a trusted team of professional developers such that the network is stable and dependable, then others may trust it and build things on top of it.

I'm not one for pumping of anything but for the most part I disagree with your implications about feathercoin being shameless and pumping. Taking pride in one's work is not a bad thing in my view.

To say that something should or shouldnt be done in terms of marketing an idea (bitcoin, litecoin, feathercoin) is a matter of opinion not a matter of morals and how right or wrong it is.

Let's keep in mind this is the free market. People can choose to do and say as they want. Warren although I disagree with your implications about feathercoin I respect your view as we are all part of the free market.

Let's keep things in perspective when it comes to what is "improper" or "right" or "wrong".

One more thing, your bolded statement is your opinion on how things should be. Not how everyone believes it should be. Once again, a matter of opinion.

[smoothie]

The numbers speak for themselves. Feathercoin had a terrible release.

http://cryptometer.org/litecoin_90_day_charts.html

Litecoin's first 90 days total supply chart shows 500,000 created in two days and a relatively constant amount created afterwards.

http://cryptometer.org/feathercoin_90_day_charts.html

Feathercoin had 2.9 Million created on day one or 37% of the current supply of coins.

http://cryptometer.org/digitalcoin_90_day_charts.html

Compare that to digitalcoin's release and the difference is astonishing.

It's true. It's a premine of an insidious type. The first to jump on mine a crap load of coins while everyone else deals with an artificial scarcity. It's unfair plain and simple. If you wanted to premine it, just premine it. Don't fake-premine it. 2 million coins in the first few days is unacceptable.

I disagree. This is an argument of numbers.

What if feathercoin used 2 times less coins than litecoin. Then what? Would the implications be different?

The number of coins was announced at launch to be 4 times that of Litecoin.

Arguing about numbers makes your argument look silly.

We have to keep in mind that when litecoin launched there wasnt a mass army of GPU miners for scrypt. There was only CPU mining.

Huge difference and worlds apart to compare them when the playing fields are essentially comparing apples and oranges.


my view is that any coin that outright premines a coin, like TRC for example, is despicable. That is my opinion. Just because TRC uses less coins per block does not change the fact that the coin was premined a ton before release. Yes I was around when it was released. There was about 2 weeks of premining on TRC. So the fact that you support TRC contradicts your views of premining because essentially what you support was premined and not pseudo-premined.

[smoothie]

People use the term 'premine' because it's easier than explaining what actually went down, which was an unfair distribution of coins.

I always found it amusing that FTC was claimed to take after LTC because the dev was enamored with what the LTC devs had done with their coin, but FTC actually is different from LTC in one crucial way.

LTC focused on a fair to everyone launch where the miners had plenty of time to see the post and prepare their miners. Let's not forget that GPU mining didn't exist at the time for scrypt, and despite that, FTC starting difficulty remained the same.

I figure I should chime in. Now that Litecoin is almost 2 years old, most people don't know or have forgotten how much effort I put in to make sure that the Litecoin launch was fair. I think that's one of the main reasons why Litecoin succeeded and why most of these recent alt coins will fail.

See the chart for the first week of Litecoin? http://cryptometer.org/litecoin_90_day_charts.html
Notice the days between the first 2 blocks and the 3rd block? Looks strange and none of the other alt coins have this. This is because I mined the genesis block and another block to confirm it, and then released the source code and binaries. People had almost a week to look over the source code and mine some Litecoin testnet coins to make sure the everything works. And they can decide whether or not they wanted to mine Litecoin from the start. Then at the community-voted launch date and time, I released the hash for the genesis block and pretty much everyone started mining at the same time.

This is pretty much as fair as I could possibly make it. It's too bad that all these new coins copied the Litecoin code but not the launch process.

I agree the launch of FTC could have been done in a better way as you did. 

[smoothie]

SMH all these things being done for feathercoin could have been done for Litecoin.

The Litecoin Project does not do shameless self-promotion and pumping of its value because we feel it would be improper to do so.

Then why is it now valued by some at a non zero amount? You guys from day one pumped it as the lighter version of bitcoin, many a time your team as tried to infer to the  public that your coin is in someway endorsed by bitcoin, and thats the only way its ever achieved any percieved value.

Warren was not here at that time. He does need to dig back into the past. But i think he is speaking from the developer's point of view and not the average LTC user.

There was pumping of LTC on more than one occasion. But defining pumping is hard because everyone's definition of it is different.

[smoothie]

How about doing a new video on how FTC was 51% attacked 3 times, forked, had thousands of coins stolen, and then afterwards was heavily manipulated and artificially overvalued by a few individuals.

+1

Who determines what is and isnt artificial about a price?

Bitcoin must have the same thing happen too as well as litecoin.

This is once again a matter of opinion.

Most PM bugs believe that Bitcoin's price is artificially held up.

But is that really true? Not necessarily.

So it is essentially a differing of views.

The free market (all who participate) determines what the price of something should or shouldnt be.

[smoothie]

I started here in March 2013.  I am not fully aware of the history of Litecoin as I wasn't around.  I can guess that some mistakes were made earlier, although you don't point to any particular examples so I don't know.  There were previously a few people who claimed to be Litecoin devs who were either removed for malfeasance or never were Litecoin devs.  In any case, this newly organized team is ratifying the principles of vendor neutrality and has the primary goal of defending the Litecoin network.  Anything outside of that is up to other individuals or companies.

Agreed. 

[smoothie]

This is the BEST Post-Mined Altcoin because it is the Only One with a Cooperative Attitude where everyone should help each other instead of bashing the other ALT Coins just because we may have more of another coin and want the competition to fail... Why do many people have a ELITE Mindset there is more than enough room for all Cryptocoins to be Traded on the Market Openly... We need to GET AWAY from FIAT Money like USD, CAN, ect and start moving more money to SILVER and GOLD and FTC, LTC, PPC, BTC, Those are the ones that will make it!

This is what drew me to the FTC forums.

I can speak my mind when I agree or disagree and no one bashes me.

I don't agree with everything FTC devs have done, but then again since when do we all agree on everything?

I'm looking forward, not backwards. Too much drama has ensued on this forum. And yes I have added to it in the past (now i'm "growing up" as SaltySpitoon says).

If you don't like Feathercoin, that is fine. Don't use it. Simple as that. 

[smoothie]

Actually as the lead developer of PPC I have always been calling for cooperation between altcoin developers, as a larger team in the big picture. I have helped NVC and TRC with their problems before FTC was born.

FTC's community is sort of like those of litecoin's, loud, energetic. Peter has been a good leader. I am actually quite open to possible cooperation with FTC team.

This is the BEST Post-Mined Altcoin because it is the Only One with a Cooperative Attitude where everyone should help each other instead of bashing the other ALT Coins just because we may have more of another coin and want the competition to fail... Why do many people have a ELITE Mindset there is more than enough room for all Cryptocoins to be Traded on the Market Openly... We need to GET AWAY from FIAT Money like USD, CAN, ect and start moving more money to SILVER and GOLD and FTC, LTC, PPC, BTC, Those are the ones that will make it!

+1