Topic: What is up with feathercoin? - page 3. (Read 4348 times)
The ultimate strangeness is it's up 30% ... ??
And FTC is still trading on the exchanges with this news? The exchanges haven't halted trading yet?
It's a crazy world
... And down again
And FTC is still trading on the exchanges with this news? The exchanges haven't halted trading yet?
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
Technically, it what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)
except that the new chain has several fake blocks added to the chain that make it win out. That is why people had such a hard time getting confirmations and then all of a sudden several blocks appeared in seconds. What that means is that anyone can come in and add their own blocks claiming all the rewards. those are fake blocks so they will supersede real transactions so those transactions will be lost.
the majority of real miners will drop out because they don't want to risk getting all their rewards orphaned. so the only miner will be the fake miner and a bunch of idiots who don't know better.
True, I mean, the majority ruled that fake blocks are allowed
A bad thing In this case, as in any case like this, the majority and fake block builders are the same individuals
when the news spreads FTC will be dumped.
but the majority is not made up of miners alone. it is made up of participants, traders, people who transact the coins. how does this benefit them. in this case they are dependent on a healthy network developed to protect against these attacks.
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
Technically, it what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)
except that the new chain has several fake blocks added to the chain that make it win out. That is why people had such a hard time getting confirmations and then all of a sudden several blocks appeared in seconds. What that means is that anyone can come in and add their own blocks claiming all the rewards. those are fake blocks so they will supersede real transactions so those transactions will be lost.
the majority of real miners will drop out because they don't want to risk getting all their rewards orphaned. so the only miner will be the fake miner and a bunch of idiots who don't know better.
True, I mean, the majority ruled that fake blocks are allowed
A bad thing In this case, as in any case like this, the majority and fake block builders are the same individuals
when the news spreads FTC will be dumped.
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
Technically, it what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)
except that the new chain has several fake blocks added to the chain that make it win out. That is why people had such a hard time getting confirmations and then all of a sudden several blocks appeared in seconds. What that means is that anyone can come in and add their own blocks claiming all the rewards. those are fake blocks so they will supersede real transactions so those transactions will be lost.
the majority of real miners will drop out because they don't want to risk getting all their rewards orphaned. so the only miner will be the fake miner and a bunch of idiots who don't know better.
True, I mean, the majority ruled that fake blocks are allowed
A bad thing In this case, as in any case like this, the majority and fake block builders are the same individuals
but shouldn't the price of FTC fall instead of rise??
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
Technically, it what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)
except that the new chain has several fake blocks added to the chain that make it win out. That is why people had such a hard time getting confirmations and then all of a sudden several blocks appeared in seconds. What that means is that anyone can come in and add their own blocks claiming all the rewards. those are fake blocks so they will supersede real transactions so those transactions will be lost.
the majority of real miners will drop out because they don't want to risk getting all their rewards orphaned. so the only miner will be the fake miner and a bunch of idiots who don't know better.
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
Well depends on what the devs do. They can try to replace the fake chain and that will orphan all FTC transactions from the point they fix the chain until the present. That will probably require distributing the chain to dedicated miners and making it long enough that it beats out the current chain. But that means they will wipe out legitimate as well as fake transactions a second time. Basically the chain is hijacked and the coin is now worthless. Someone is making a killing on the fake chain
So..FTC is basically a ponzi scheme now?
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
Well depends on what the devs do. They can try to replace the fake chain and that will orphan all FTC transactions from the point they fix the chain until the present. That will probably require distributing the chain to dedicated miners and making it long enough that it beats out the current chain. But that means they will wipe out legitimate as well as fake transactions a second time. Basically the chain is hijacked and the coin is now worthless. Someone is making a killing on the fake chain
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
Technically, if what is described here is true, FTC is not "broken". It is working as it was designed, the majority rules. Therefore since nothing is broken, nothing can be "fixed". (except releasing a fork or such, but then a new 51% attack could occur)
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
So does that mean FTC is broken / finished - or can they fix things from here?
well i bought into it, and now lost 4 ltc. At least i haven't got burnt as bad as other will.
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
That should be fun for all the btc-e pumpers..
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
someone probably built their own block chain and mined it. since it is longer they used a ton of hashing power when the network hashing power was low and replaced the original block chain. The result is a ton of orphans as all the good transactions were wiped out. Now the new fake chain is in place someone who injected it has a ton of coins to sell into the market.
Yeah - something seems wrong with FTC - I did a transfer from one wallet to another and it took many hours to go through..
huge pump sooner or later it will come down.
Jump to: