So I worked out that if you mine FTC with a high end GPU all day long you can make about 60 cents worth of FTC, at that price it cost more to mine it then its even worth, people will stop selling it at low prices, might start to gain in price over time
Yeah, the problem with Feathercoin (like Vertcoin use of Lyra2) is that the larger miners have modifications that increases hashpower on their GPU's by up to 93% e.g. hobbyist or small miners get 320khs and big miners get 590khs.
Wolf0 (SGminer developer) has said, he has found modifications that increases hashing by up 93%.
Secondly, there is a bottleneck on R9 290's and R9 290x GPU's that limit hashing output to the same as a 280x. There is clearly a fix for this problem, as well, not shared with the community (hobbyists).
In normal business scenarios: the Feathercoin organisation and other neoscrypt algo coins would buy up these modifications and make them public to all miners to eliminate sell motives in the exchanges and ensure higher prices and stable prices.
However, this has not been done and those mining with the modifications have a huge incentive to dump their FTC on the market crashing the price and then maybe buying them back when these modifications are eventually leaked to everyone?
If, everyone was using these modifications, then there would be no incentive/motive for a small group to mine and dump their FTC, because they would be unlikely to get those FTC back at a cheaper price or gain an "exploitation" on the system/peoples.
This is what has happened on the X11 coins, there were modifications that allowed larger miners to get 50% more hash-power then the official sgminer release, those with these modifications mined and dumped their coins on the exchanges for 4 months, which is why all the X11 coins prices are so low. Now, those X11 kernels and bins have been leaked and X11 coins have reduced sell pressures on them and better price stability.
For example: had those X11 Kernels and Bin been leaked in August 2014, instead of December 2014 Darkcoin's price would still be at 0.01btc instead of it's current 0.006btc. Similarly, FTC price fall from 0.00006BTC to 0.00004BTC can be (evidently proved) blamed on these this modifications being used by a small group of miners to sell down FTC on the exchanges.
Since, the December 2014 leak of X11 kernels and bins (50% extra hash), Darkcoin has been trading upwards from previous month 0.0058BTC average to 0.006BTC average. On this, it is postulate that FTC price will trend upwards whenever the neoscrypt Kernels and Bins (93% extra hash) gets leaked to the community.
Secondly, this is causing the huge demand for new coins, because spending 0.10btc on 50,000-100,000 new crypto-currency or putting your GPU's on a new coin appears to be the only way to make a profit with mining at the moment, even if the success rate is very low on new coins (only 1 in 25).
today ,VG antivirus report Feathercoin wallet have virus, trojan.E13F31C
