Topic: Feathercoin opening trade day 1FC = 0.05 LTC and going up (Read 7417 times)

Confidence has gone many times for one reason or another, and always come back.

That's cool, I'll leave it at that and we can agree to disagree I only want to make one slight point ...

I disagree with your assertation that if SHA-256 fails, then all cryptographic algorithms fail. They are all different, perhaps a vulnerability is found in one that does not exist in the others.

Absolutely, in fact any vulnerability in SHA256 is almost guaranteed to not appear in scrypt. I only meant the confidence in cryptocurrencies would be gone.

Peleus, I guess we will agree to disagree.

Opinion plays a large part in most of these arguments, and my opinion is different.

Arguing that FC is equally as innovative as LTC is an insult to Coblee who spent a lot of his valuable time implementing the scrypt algorithm into Litecoin. The fact that FC did not have to do anything at all to implement Scrypt into FC is quite less innovative IMO.

I disagree with your assertation that if SHA-256 fails, then all cryptographic algorithms fail. They are all different, perhaps a vulnerability is found in one that does not exist in the others.

I agree Litecoin is not particularly innovative itself, but that is not why I support it either. It is here to stay and a lot of people support it, so my support is kind of like making lemonade out of lemons. Also, LTC is more useful to me in a lot of ways than "just because it's more popular". That is just your opinion.

Quicker transactions are quicker transactions. Supposedly they are less secure, but after ~8 months of using Litecoin, I have never been wronged or cheated.

I see a few people looking to buy FTC for LTC. I have 200 FTC I am willing to sell for 8.2LTC   If someone interested is a long time member who is established here as being honest, I will go first since I am new. (gotta start somewhere, not my fault im new) But please for the love of god dont fuck me over, I recently invested a ton of money into mining and have already been ripped off of coins at two sites (altpool.com screwed me out of a bunch of FTC and litecoinrain.org out of 11.76 LTC) so I cannot afford to get screwed over by scamming.

Serious offers only PLEASE.

Successfully traded with Peleus where I went first. Thanks so much for your honesty, Peleus.

I have a small LTC buy order in trading 20 FTC @ 0.042 it's been in the Buy queue for over 7 hours, the price has passed within that trade range many times today and still the order sits there. I go to cancel it by clicking the little blue X to the right of it, the order disappears as expected, I refresh the browser page and it's back again. I check in the CryptoCoin information page and there are no orders listed  in the exchange section and neither the 20FTC or the 0.84 LTC, had the order completed, are back in the account. That's what I call buggy. I have submitted a support ticket several hours ago, not response yet.

Not really. Litecoin changed 3 major things -> Block time, Number of Coins, Hashing algorithm. Feathercoin changed 2 -> Block time, Number of Coins. Changing the hash isn't really that hard from a code perspective. The large ideal's, what I'd call major changes, such as cryptographic proof of work, use of the block chain, etc etc is identical with all 3.


Realistically if the cryptographic principles behind Bitcoin and SHA2 were compromised, I guarantee you that one of two things will happen. Either they will catch it in time and upgrade to a different algorithm for BTC, or cryptocurrencies will be dead. I can't imagine any scenario where it goes "Woops, SHA2 has been compromised, thank god we have litecoin". 



You quote things such as "the block speed changed" as a major parameter, yet call it insignificant in terms of feathercoin changing it. You say LTC is an innovator because it was the first to change some parameters. I'm saying it's not an innovator because it only changed parameters. Also fair is a pretty strange notion to think about. Can you really say a currency which is meant to theoretically last for generations is more "fair" because it was announced on an obscure forum for a matter of days before launching? It's no more fair than any early vs late adopter coin on there. Someone getting into LTC today is worse off than someone who was there at launch, exactly as BTC was in the past vs now.


You're judging success with hindsight and adoption rather than the features it brings. LTC is useful because it's popular can sum up the argument in that paragraph. By the same logic if FTC is adopted widely and used wildly it's useful, if it dies out it's not - see how that can't work? You should be able to judge the usefulness of something independent of it's success.

I think alt currencies are a wonderful thing, but I wish they would ALL innovate more (inc LTC). I don't think we've seen an actual innovative alt coin yet. I also agree completely that many coins are simply a get rich quick scheme / ponzi scheme designed to launch, pump as much as possible making a profit before their eventual decline. It's a glorified speculation mechanism rather than trying to really be an alternative. I'm just disagreeing with your classification of FTC as one but excluding LTC on the basis that it changed one more parameter.

Litecoin changed much more of the Bitcoin code than Feathercoin changed of the Litecoin code. To compare the changes of FC's code to the changes of LTC's code is crazy. FC was developed with much less effort and less innovation than Litecoin.

The benefit to scrypt is just as you said... it's different. If somewhere down the road a devastating error is found in the SHA-256 algorithm, then it is useful to have another peer to peer anonymous decentralized currency that is built on a different hashing algorithm. The existence and growth of Litecoin is beneficial to seeing that the ideals that Bitcoin was founded upon will be around for a long time (and perhaps even longer than Bitcoin itself).
 
Again, Litecoin is not "simply just a copy cat of Bitcoin." Yes, it shares a lot of the same code, but that is because it is based off of Bitcoin. Major parameters were changed, the hashing algorithm changed, and block speed changed. Also- it was one of the first coins to do this, now as time goes on many other coins are trying to do the same thing adding no real value to the ecosystem. Litecoin had a much fairer release than almost every single other ALT currency as well, giving a few days notice before any mining took place.

I agree LTC makes it harder to incorporate crypto currencies into ecommerce because implementing 2 coins is harder than implementing one. But, I see it as that Litecoin is here to stay, it was/is and always will be the most popular ALT currency. Therefore, it should be embraced for the good things it can do and provide for the community. Any further dilution of the crypto currencies from this point on should only be because the new coin is actually an improvement on existing coins and/or really different.

Rubbish

Faster confirm times only lead to slightly smaller increments in measuring security - not adding to it. You're slightly more secure after 10 minutes with BTC then you are with LTC, but let's face it the whole "confirmations" is silly considering it's either going to be instant (same for both) or delayed (same for both) payment.

Scrypt offers no advantages bar being different. Litecoin simply goes a step further in the "get in on being an early adopter" game by changing the hashing algorithm.

It's so sad everyone's willing to support ALT coins that just change a few lines of code and call it good. - Essentially what LTC does to BTC (Change hash, number of coins, confirm time). Basically if FTC changed the hash instead of copying scrypt it would be exactly what LTC is to BTC.

You guys will realize later on down the road when the crypto currency market is populated with 1000s of copy cat coins that this is not good for the community. - LTC is an example of this trend, it simply is a copy cat of BTC.

It dilutes the value of crypto currencies, and makes them less useful and harder to implement into ecommerce. - LTC does this.

Now, before you get upset at me - I use LTC. I use BTC. I use FTC. I do it because it's profitable to me. I'm not saying we shouldn't, I'm simply saying that it's pretty hard to look down at FTC on one hand while holding LTC up on the other.

I don't support Litecoin over Bitcoin, I like them both equally.

But, I know what you're asking.. I think that there is room for more than one crypto currency. Litecoin is quite different from Bitcoin when you get down to the details, so it provided something new and different. I like that transactions confirm quicker.

I don't think that there's any need to copy proven crypto currencies a hundred times over only changing a few parameters though. That will do more harm than good. I think there's room for other crypto currencies other than Bitcoin and Litecoin, however I think we should support and focus on IMPROVING on our current currencies rather than copying them.

By that argument, why do you support litecoin over bitcion?

Lol.. Feathercoiners are such spam artists... they sit here bumping all the FC threads all day long trying to hype up their coin as much as possible because they own 100,000+ coins.

It's so sad everyone's willing to support ALT coins that just change a few lines of code and call it good. You guys will realize later on down the road when the crypto currency market is populated with 1000s of copy cat coins that this is not good for the community. It dilutes the value of crypto currencies, and makes them less useful and harder to implement into ecommerce.

My opinion is pretty much unbiased, as I currently own less than $150 worth of crypto coins. I am not trying to sway anyone's opinion to better my own position, this is just an honest observation.

i can sell you that, i sent you a pm

How about 48 ltc for 1k ftc, anyone?

but is better than if your whole deposit just dissapears in the exchange

Seems like those prices are gone. 

im buying fc also at 42 ltc for 1k

If someone wants to use me instead of the exchange I'm buying for LTC or BTC.

Slightly less prices, but better than the hassle / bugs.

PM Me.

You guys can't expect a top notch exchange from a guy doing this as his high school project.

I saw that too, and withdrawal system is a pain..

Yeah look at the sell side right now... not even ordering correctly:

LTC   Rate   FTC   
249.995   0.049999   5000
0.51574424   0.049   10.52539274     <<<< This should be at the top
40.24648685   0.05   804.929737