Is FTC / FC dead? - page 2. | Bitcointalksearch.org

ondratra

sr. member

Activity: 350

Merit: 250

merge mined coins like DVC and IXC won't die so easily

There will fall some of new scrypt based coins soon as they were all launched at almost same time (about 5 new coins in 5 last days). The new coins are fighting each other for afterlife (after nowdays pump & dump).

SHA-256 coins: imho Bytecoin is dying the most right now - and it will die or almost die sooner or later as it is just cheap copy of bitcoin. Another coin to maybe fall is Terracoin as there was huge issues with difficulty lately and Terracoin brings too few new features. PPCoin will persist imho as it introduced new sustainable POS.

erk

hero member

Activity: 826

Merit: 500

Quote from: Rampion on May 10, 2013, 06:21:27 AM

Quote from: naphto on May 10, 2013, 05:29:12 AM

So basically after 1 week, someone creates a new coin and the old one is unused, making some money for the first miners?

Yes, these are just flash-ponzis. You know who the winner is: first in, first out. The rest are left holding the bag.

From a noob's perspective it might look that way, but if you look at what actually happened. FTC had a great launch, nicely timed no head start, no pre-mine, lot's of people jumped on it and the hash rate went though the roof in no time. As the difficulty increases started to kick in to compensate, we suddenly had the unexpected release of CNC at a much lower difficulty putting it far higher than FTC on coinchoose.com, so miners simply jumped ship, that caused the difficulty on FTC to remain high, so more miners jumped ship.

WishIStartedSooner

sr. member

Activity: 252

Merit: 250

Quote from: naphto on May 10, 2013, 05:29:12 AM

So basically after 1 week, someone creates a new coin and the old one is unused, making some money for the first miners?

Is Terracoin and ~~Devcoin~~ dead?

http://dustcoin.com/mining

EDIT: bad example. devcoin seems to be dead.

OPs concern is valid.

Rampion

legendary

Activity: 1148

Merit: 1018

Quote from: naphto on May 10, 2013, 05:29:12 AM

So basically after 1 week, someone creates a new coin and the old one is unused, making some money for the first miners?

Yes, these are just flash-ponzis. You know who the winner is: first in, first out. The rest are left holding the bag.

erk

hero member

Activity: 826

Merit: 500

FTC Net Hash: 407.15 MH/s, CNC Net Hashrate: 511.75 MH/s

However FTC will go down in the history books as the worst difficulty re-target to date. A text book case on how not to do it.

Code:

Current Block 32603
Current Difficulty 188.192
Expected Time per Block 0 day(s), 0 hour(s), 18 min, 25 sec
Estimated Network Hashrate 731,415 KHash/s (over last 347 blocks)
Time to Retarget 21 day(s), 8 hour(s), 19 min, 54 sec
Next Difficulty 27.24731746752
Total Coins Mined 6520600

The devs better go back to the drawing board and fix it so it can't happen again, unless they want miners to ignore the coin.

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: MrWizard on May 10, 2013, 05:55:44 AM

Quote from: redmist on May 10, 2013, 05:35:20 AM

I agree with cryptohunter.
When the diff drops it will become profitable again and people will pump the price up more... And hopefully the price will stay up there Cheesy

Your logic is flawed. When it becomes profitable to mine, people will jump on it to mine and then quickly sell. There is absolutely no mechanism to drive the price higher based on lower difficulty.

Yes, perhaps it will happen like that. However the HUGE unload from miners that mined on zero difficulty is underway now and i think that is driving the price into the ground. Perhaps when a more widespread distribution of coins then more ppl will take a genuine interest and not just want to dump them all. Also when the mining diff goes low and its profitable, the diff will then start to rise as more ppl jump in again?

I'm not really sure though since i only been looking into crypto for a few weeks and have not been here to witness enough of these cycles to see how it will pan out. I do like that the developer has put some work in and is around with a website and own forum which is growing. I guess it will be a gamble like anything else. The market is so tiny any big player can push it up and down at will atm. Needs months to mature and become a litlte more stable i guess.

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: bushstar on May 10, 2013, 05:59:13 AM

Feathercoin has an active team and community behind it. There is an update in the link below.

https://bitcointalksearch.org/topic/m.2060107

There is a Feathercoin forum available from the link below.

http://forum.feathercoin.com/

why will none of my feathercoin wallets sync for hours on end?

bushstar

hero member

Activity: 617

Merit: 531

Feathercoin has an active team and community behind it. There is an update in the link below.

https://bitcointalksearch.org/topic/m.2060107

There is a Feathercoin forum available from the link below.

http://forum.feathercoin.com/

MrWizard

sr. member

Activity: 252

Merit: 250

Quote from: redmist on May 10, 2013, 05:35:20 AM

I agree with cryptohunter.
When the diff drops it will become profitable again and people will pump the price up more... And hopefully the price will stay up there Cheesy

Your logic is flawed. When it becomes profitable to mine, people will jump on it to mine and then quickly sell. There is absolutely no mechanism to drive the price higher based on lower difficulty.

Buffer Overflow

legendary

Activity: 1652

Merit: 1016

Quote from: naphto on May 10, 2013, 05:29:12 AM

So basically after 1 week, someone creates a new coin and the old one is unused, making some money for the first miners?

Yes. But you knew that from the start, right?

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

Quote from: naphto on May 10, 2013, 05:37:00 AM

But it was overpriced as start ... People who bought 100k+ should be mad Sad

i think most ppl that put in 100k orders got it for the price it is now or less. Even if they paid more they can probably quite easily afford it. Also those that grabbed 100k probably dumped out even higher, there is a reason they can swoop in and grab 100k, they know markets and when to buy then dump. Im guessing they are holding only 30% of that now and already made a profit, all about timing i guess. Long term i think it will gradually rise, the developer has put quite a lot of work in and it has a growing community unlike some of the others.

I cant even get the feathercoin wallet to sync atm? anyone else having this issue??

naphto

sr. member

Activity: 392

Merit: 250

But it was overpriced as start ... People who bought 100k+ should be mad Sad

redmist

full member

Activity: 224

Merit: 100

I agree with cryptohunter.
When the diff drops it will become profitable again and people will pump the price up more... And hopefully the price will stay up there Cheesy

cryptohunter

legendary

Activity: 2100

Merit: 1167

MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

not dead but since its no longer profitable to mine right now willl sink in value until diff drops and then it will get mined again and value will rise, it's only a ltc clone so i suspect .001 is the value for now perhaps 0025 if in 6 months or longer.

this is just me guessing i don't think anyone really knows what will happen to any of these coins.

naphto

sr. member

Activity: 392

Merit: 250

So basically after 1 week, someone creates a new coin and the old one is unused, making some money for the first miners?

Topic: Is FTC / FC dead? - page 2. (Read 2015 times)