Official Feathercoin newsletter #34 -FTC offers way for SCRYPT coins to survive

[digitalindustry]

Wow Tuck Fheman reposted whole thing at his blog!
http://tuckfheman.com/post/92576669214/official-feathercoin-newsletter-34

Thank you Tuck, this is quite an honor for me.

Some people might not realize it yet, but Neoscrypt is the only solution for Scrypt coins right now to escape before incoming TITAN rape.

its a good solution but its not elegant - sCrypt is a GPU killer, and i assume (without reading anything on it)  its still going to have the memory hard function and thus the higher voltages - ?

Actually Neoscrypt handle memory little different than scrypt.
However code is not 100% optimized for GPUs yet so it is hard to tell how much the performance will be better.

Sounds good -

but i have a question why try to do something radically new  if a hard fork is required - why not do something that the market knows ( like i previously mentioned ) for example taking well known algos from the "X" bunch or the "Quark" type and mixing them into a new Random driven function?

then rename this your own?

the point is this :

Will the market see this as more of the "CPU only" reset that gives the designers of the function a distinct advantage over the rest of the market at inception as they will have an optimized GPU and the rest of the market will have  whatever they can develop.

wouldn't there be risk that the market will see his as manipulation?

TL;DR

Isn't there Risk the market will see untested "new" algos as an attempt to manipulate with your own "optimized" miner when if the proposed solution really is ASIC avoidance is it not in front of you?

Represented in the now many many algos floating around which are well tested and being optimized by the market all the time.


don't get me wrong i support your move.

[Conqueror]

Wow Tuck Fheman reposted whole thing at his blog!
http://tuckfheman.com/post/92576669214/official-feathercoin-newsletter-34

Thank you Tuck, this is quite an honor for me.

Some people might not realize it yet, but Neoscrypt is the only solution for Scrypt coins right now to escape before incoming TITAN rape.

its a good solution but its not elegant - sCrypt is a GPU killer, and i assume (without reading anything on it)  its still going to have the memory hard function and thus the higher voltages - ?

Actually Neoscrypt handle memory little different than scrypt.
However code is not 100% optimized for GPUs yet so it is hard to tell how much the performance will be better.

Sounds good -

but i have a question why try to do something radically new  if a hard fork is required - why not do something that the market knows ( like i previously mentioned ) for example taking well known algos from the "X" bunch or the "Quark" type and mixing them into a new Random driven function?

then rename this your own the point is :

Will the market see this as more of the "CPU only" reset that gives the designers of the function a distinct advantage over the rest of the market at inception as they will have an optimized GPU and the rest of the market will have  whatever they can develop.

wouldn't there be risk that the market will see his as manipulation?

We are working on GPU miner, it should go live with miner ready so GPUs can be used from start.
+ Neoscrypt will be completely opensourced in few days so anybody can develop/modify his gpu mining software before live launch in few weeks  
Completely transparent, no ninja launches...

Meanwhile take a look at awesome rPI project of tmuir12 who just uploaded his progress on youtube:
http://www.youtube.com/watch?v=DJdsMX-eeFM&feature=youtu.be

[vizay]

TL;DR

Isn't there Risk the market will see untested "new" algos as an attempt to manipulate with your own "optimized" miner when if the proposed solution really is ASIC avoidance is it not in front of you?

Represented in the now many many algos floating around which are well tested and being optimized by the market all the time.


don't get me wrong i support your move.

It's a relevant concern indeed, and that's why we're already working hard trying to get at least one GPU miner in place from launch day (no telling at the moment if nvidia or amd will get done first, or perhaps both). Launching without a GPU miner won't only risk that everything looks like a scheme for the core team to get rich but the coin would also be very easy to mine big time with a bot net. None of those options would benefit feathercoins survival, that's for sure

[calem]

Sounds good -

but i have a question why try to do something radically new  if a hard fork is required - why not do something that the market knows ( like i previously mentioned ) for example taking well known algos from the "X" bunch or the "Quark" type and mixing them into a new Random driven function?

then rename this your own?

The first 8 rounds of Salsa have successfully been broken with differential cryptanalysis.
Differential Cryptanalysis of Salsa20/8
New Features of Latin Dances: Analysis of Salsa, ChaCha, and Rumba?

When you think about it, as new as NeoScrypt would be considered, I wouldn't go as far as calling it radical.

It has simply been upgraded and optimised to be faster and more secure.

To be honest (opinion), the "market" is starting to lack innovation. These new myriad of algo's really only achieve one thing. Dodge the ASIC's and show off it's shiny new shoes.. That is not what we're trying to do.

We want ASIC's and FPGA's for NeoScrypt to be developed in time. Preferably open source and at an affordable price for the average miner. In fact, this is the reason why we decided to upgrade and fix scrypt as opposed to mashing together some new xAlgo.

Catch is, everyone needs more time for their gpu farms. By the end of the year, that is it for getting any ROI back, as the Scrypt ASIC's will be in control. NeoScrypt will create a short term safe haven for any coin that still wishes to remain profitable for their loyal miners.

Then when the NeoScrypt ASIC's arrive, ftc will stay but other coins may choose to move on.

the point is this :

Will the market see this as more of the "CPU only" reset that gives the designers of the function a distinct advantage over the rest of the market at inception as they will have an optimized GPU and the rest of the market will have  whatever they can develop.

wouldn't there be risk that the market will see his as manipulation?

Ha!...

No GPU miner, no fork.

Once we see that enough of the major pools are ready for the switch, and the worldwide community is loud and clear that we're ready, then and only then, will the fork occur.

TL;DR

Isn't there Risk the market will see untested "new" algos as an attempt to manipulate with your own "optimized" miner when if the proposed solution really is ASIC avoidance is it not in front of you?

Represented in the now many many algos floating around which are well tested and being optimized by the market all the time.


don't get me wrong i support your move.

There are a number of individuals working very hard behind the scenes. This has been planned for quite some time now. It has been thoroughly tested, analysed, assessed, modified and re-tested etc.

Phoenixcoin will make the change first. In the coming days, the source will be released. At that point, the code will be open and we highly encourage anyone with the skills necessary to create the first open source GPU miner for NeoScrypt. I can assure who ever achieves this, will be generously compensated.

Come over to the ftc forum and let us continue the work of Satoshi.

Calem

[Magic8Ball]

I think NeoScrypt is a great plan to move forward, and gives us our unique identity. This, coupled with all the small initiatives, and the ATM is going to put FeatherCoin back on the map again.

Its still one of the biggest coins and traded on the biggest alt coin exchanges. The current prices will be a distant memory soon.

[Conqueror]

Neoscrypt official press release, white paper will follow:

http://www.feathercoin.com/neo-scrypt-press-release.pdf

[Conqueror]

GitHub:
https://github.com/ghostlander/NeoScrypt

Whitepaper
http://phoenixcoin.org/archive/neoscrypt_v1.pdf

[nicepumper]

Is feather still going? it was one of the first coins i mined.

[calem]

Is feather still going? it was one of the first coins i mined.

Very well much my friend.

From Point of sales equipment and ATM's to embedding magnet links in our blockchain, and even working with a local council to educate and help them establish their own localised crypto currency.
Feather ATM | Link/Flux | Hull City Council

We're sending a ftc wallet literally to the moon's surface, and raised a ton of money for cancer research.
Ftc to Moon | PCUK

We have created an open source solution for checkpointing and also diff re-targeting that puts all the gravity wells to shame.
ACP | eHRC.

These projects have all been achieved over roughly ftc's first 12 months of life, where we have survived multiple hardforks, a 51% attack and a forum hack.

Endlessly the Feathercoin community has worked with other coins to either help or even in some cases save their coin.

ftc's ethos is that we should all be working together to create the best open source solutions possible.

You just wait and see what else we have planned.. or, come on over to the forum and find out for yourself..

[iawgoM]

Awesome news...I don't know which part I like more, and I'm really happy to see a coin that has so much things going on. It takes some time, but it's moving, while most of other coins just talk about tome currently popular things like anonymity, tor, etc etc...and most of them don't ever deliver what they promised. Go FTC!

[smoothie]

The funny thing is that Feathercoin should have had a different mining algorithm from Litecoin from the get-go.

In my view it is too late as so many alt coins are around doing different things which is making Feathercoin that much more irrelevant.

[nwfella]

Brave move this NeoScrypt move.  Will be keeping an eye on feathercoin over the next few days

[smoothie]

Wow Tuck Fheman reposted whole thing at his blog!
http://tuckfheman.com/post/92576669214/official-feathercoin-newsletter-34

Thank you Tuck, this is quite an honor for me.

Some people might not realize it yet, but Neoscrypt is the only solution for Scrypt coins right now to escape before incoming TITAN rape.

Merge mine with litecoin is the only solution.

Just no, why should anyone merge mine with litecoin. Litecoin development is considered as "dead" the only thing coblee wants is to find a merged mine partner that "his" network doesnt get raped by asics.

That is some very presumptuous statement there.

Made me laugh.

No Litecoin doesn't need a merge mine partner coin. But it sure does seem Feathercoin needs to hurry up and get moving after over a year of really no development aside from changing mining time/parameters which in my view was a mistake.

The level-playing-field when Feathercoin was launched has changed many times. The rules were set from the beginning and now have had to change multiple times given the developer(s) did not plan FTC out well and resorted to much of a copy-paste mantra when starting, hence all of the changes over time and now the big one...changing the mining algorithm...which should have been done over a year ago.

Honestly I think it is too late. There are so many other options for alt coins which have a better development track record than feathercoin.

[smoothie]

I think NeoScrypt is a great plan to move forward, and gives us our unique identity. This, coupled with all the small initiatives, and the ATM is going to put FeatherCoin back on the map again.

Its still one of the biggest coins and traded on the biggest alt coin exchanges. The current prices will be a distant memory soon.

What metric are you using to determine FTC is "one of the biggest coins"?

[zhinkk]

How will the new neoscrypt algo work with the scrypt asics that are in the market? Will they not work at all or will they simply be less efficient?

[Conqueror]

How will the new neoscrypt algo work with the scrypt asics that are in the market? Will they not work at all or will they simply be less efficient?

They will not work.

[krisdavison]

Do we know if there are any spaces left on the FTC  Spacecraft?

As I'm sure there are lots of people on this forum that would love to get a chance to join in the fun!

[Conqueror]

Do we know if there are any spaces left on the FTC  Spacecraft?

As I'm sure there are lots of people on this forum that would love to get a chance to join in the fun!

Ship #2 is still boarding...