Topic: [FTC] 12 hours to next difficulty jump (40 to 86!) (Read 4342 times)

Thanks for clearing this up. I must admit I was a little confused myself as I couldn't find any Pool that had a really significant increase in hashing power.

All scrypt coins will die, a flawed design from day one. This is all about a fast adopter coin mine and dump, you will see many of these.

Mincoin, CNCoin, Feathercoin, etc. will all die, LTC will hang on for a while as it was the first scrypt coin, then it too will die unless low power ways to mine it evolve to sustain the network.

Notice none of these new coins start off with a reasonable difficulty from day one? They always benefit the early adopters in the first 24hours or so, that's the game plan. There is noting preventing them having moderate difficulty from day one, instead of ultra low.

That hashrate is incorrect and there was no jump.  The network hashrate is calculated based on the average time blocks are found for a particular difficulty.  Network was lucky and just found more blocks than it "should've" right after the difficulty change.  It will taper out.

FC is dead soon

Bloody hell! Well, bad news for us with "average" hardware 

Well the coins/day just halved for me when the difficulty went to 82. I can't see why people are putting more hashing power into it now, the missed the easy train, that's almost half the LTC hash rate which was 12,000 MH/s the other day.

 

Thats not a good news, surely? It means the difficulty will keep climbing at the same rate?

It was 2500 about 3 hours ago :|

hey look at that Difficulty=82

Network Hashrate: 5587.19 MH/s WOOOOOW!

Yesterday it was 2500!!!

Well FC profitability is below that of mining ltc directly, now its time to see if the coin can stand on its own

This is the best post I've read all week. So true. 

Of course it's a pump & dump.

Everything looks like a pump and dump when you don't have any. When you do, it looks like a great deal

CHNcoin has a 60sec block discovery target. Thats too short, bound to cause problems. This looks a lot like a pump and dump with little regard for the practicallity.

Feathercoin is dead.

Yes. Get in on the train early at cheap!

Not really. Feathercoin is old news now. CHNcoin is the new flavor of the week.
The smart money have already dumped their feathercoins and moved on.

People flocked to FTC because it was LTC with a reset difficulty. I moved my 1.8mhash/sec mining over to FTC because at the average FTC/LTC rate of exchange meant that I could turn my FTC into 3-4 times as many LTC had I been mining a LTC pool. When the difficulty goes up due to the massive influx of miners, the profitability goes down unless the price goes up to match difficulty. As soon as the profitability of FTC drops below that of LTC, you are going to see a lot of miners point their rigs back over to an LTC pool. All it will take is a one line change in the config of our miners to do it too.

There are too many new coins coming out. I'm not sure if this is happening so people can feel good about creating something "new" or if they are making it so they can get a ton of coins from being an early adopter. Probably both. FTC feels like a get rich quick scheme to me. Take LTC, change the name to FTC, play with the payout/number of coins, reset the difficulty, point your GPU farm at it, and hype it up....that's what FTC feels like to me. Keep hyping it and it's profitability to people until one of two things happen: You can cash in your thousands/millions of coins mined in the first few days for something with long term value (BTC or LTC), or keep your coins and hope that you can hype it enough so that the coin lasts and makes you a lot of money down the road. Either way, it's a pump and dump...the only difference is that you are playing for short term or long term goals with your stock pile of easily obtained coins.

A new coin should be one of two things: Revolutionary or Innovative. If you can't change the game, you should take the existing game and improve upon it. FTC does neither of these.

I hope so, atm for a lot of people it wont be covering the power costs:

http://benhohner.com/feathercoin/

AS production volume increases, because of all the hashing power, price falls, a bit.

When difficulty rises latter today production will go down, thus price will skyrocket.