Looks like we are stalled again
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People don’t mine this coin because it is worth less than bitcoin, litecoin, nibble, worldcoin, digitalcoin etc etc etc and all in all, they are are all very similar. The only item that segregates them is the value, so while there are a few who continue to keep the network alive for altruistic reasons, everyone else is leaving because money matters.
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[quote name=“randomdef” post=“8729” timestamp=“1370136391”]
People don’t mine this coin because it is worth less than bitcoin, litecoin, nibble, worldcoin, digitalcoin etc etc etc and all in all, they are are all very similar. The only item that segregates them is the value, so while there are a few who continue to keep the network alive for altruistic reasons, everyone else is leaving because money matters.
[/quote]We’ll go through a few difficulty changes, keep building an infrastructure. We’re still a new coin, I think people often forget where Litecoin was a few months into it’s creation. You’re absolutely right, value matters to the miners. All we can do is keep pushing forward and help deliver that value. It’s all going to get rather interesting when BFL finally ships (sure, it could be 2019 ha) in mass quantities.
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[quote name=“randomdef” post=“8729” timestamp=“1370136391”]
People don’t mine this coin because it is worth less than bitcoin, litecoin, nibble, worldcoin, digitalcoin etc etc etc and all in all, they are are all very similar. The only item that segregates them is the value, so while there are a few who continue to keep the network alive for altruistic reasons, everyone else is leaving because money matters.
[/quote]Money is exchanged for stuff. Therefore stuff matters. We make stuff. You can skip the money.
QED.It is currently at least 80% as profitable as litecoin. I can see you learned how to add. But did you learn how to multiply?
You once offered mining for payment if I’m not mistaken. That was a decent gesture. What’s not so decent is your recent butthurt because people are not prostrating themselves to your downright insulting Randian logic. Did someone forget to grovel and bow to you?
A song for you (jumped to the awesome) [url=http://www.youtube.com/watch?feature=player_detailpage&v=DTwsEtxmXzo#t=214s]http://www.youtube.com/watch?feature=player_detailpage&v=DTwsEtxmXzo#t=214s[/url]
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I’m done for tonight. They shall eat our dust. Zero’s Book of Drama: Chapter 1337, verse 9001.
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Alright… moving on.
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???
Expected Time per Block is half what it was before the retarget
there are more than adequate supply of FTC, as displayed by the sell order book
transactions will go through twice as fast as before
seems pretty good ;) -
A faster transaction speed maybe helpful
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Our KHash is rising.
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[quote name=“zerodrama” post=“8736” timestamp=“1370138491”]
[quote author=randomdef link=topic=1119.msg8729#msg8729 date=1370136391]
People don’t mine this coin because it is worth less than bitcoin, litecoin, nibble, worldcoin, digitalcoin etc etc etc and all in all, they are are all very similar. The only item that segregates them is the value, so while there are a few who continue to keep the network alive for altruistic reasons, everyone else is leaving because money matters.
[/quote]Money is exchanged for stuff. Therefore stuff matters. We make stuff. You can skip the money.
QED.It is currently at least 80% as profitable as litecoin. I can see you learned how to add. But did you learn how to multiply?
You once offered mining for payment if I’m not mistaken. That was a decent gesture. What’s not so decent is your recent butthurt because people are not prostrating themselves to your downright insulting Randian logic. Did someone forget to grovel and bow to you?
A song for you (jumped to the awesome) [url=http://www.youtube.com/watch?feature=player_detailpage&v=DTwsEtxmXzo#t=214s]http://www.youtube.com/watch?feature=player_detailpage&v=DTwsEtxmXzo#t=214s[/url]
[/quote]I then [b]donated [/b]it to give-me-ftc and kicked your ass in the rankings (I was the #2 miner on that pool) ONLY to be called a troll on this forum over and over.
*language*
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[quote name=“randomdef” post=“8729” timestamp=“1370136391”]
People don’t mine this coin because it is worth less than bitcoin, litecoin, nibble, worldcoin, digitalcoin etc etc etc and all in all, they are are all very similar. The only item that segregates them is the value, so while there are a few who continue to keep the network alive for altruistic reasons, everyone else is leaving because money matters.
[/quote]you sure people don’t mine FTC? Take a look at order book at btc-e.
what is the value of worldcoin? it is 6 times low than value of FTC…
does people only needs money??:) :)
you get me inspired thank you… ;)
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[quote name=“silentgaps” post=“8768” timestamp=“1370145788”]
[quote author=randomdef link=topic=1119.msg8729#msg8729 date=1370136391]
People don’t mine this coin because it is worth less than bitcoin, litecoin, nibble, worldcoin, digitalcoin etc etc etc and all in all, they are are all very similar. The only item that segregates them is the value, so while there are a few who continue to keep the network alive for altruistic reasons, everyone else is leaving because money matters.
[/quote]you sure people don’t mine FTC? Take a look at order book at btc-e.
what is the value of worldcoin? it is 6 times low than value of FTC…
does people only needs money??:) :)
you get me inspired thank you… ;)
[/quote]Don’t speak too soon. The price can go down. Buy order book appears to be thinning out. 2 days ago it was at 575 BTC, now it is 225 BTC.
::)
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I have no worries as I have been around for a while now and can remember mining Litecoin when it had low value. I can still mine Feathercoin, pay the electric bills and make a profit so I have no problem mining it at all.
Things are as expected with the approach we took to recovery. With every difficulty change things are getting quicker.
I can now mine 100 coins a day and am in the process of expanding my setup further by another 50%. Justabitoftime is going to start mining, my challenge is to make sure my setup is bigger than his :)
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[quote name=“Bushstar” post=“8785” timestamp=“1370160108”]
I have no worries as I have been around for a while now and can remember mining Litecoin when it had low value. I can still mine Feathercoin, pay the electric bills and make a profit so I have no problem mining it at all.Things are as expected with the approach we took to recovery. With every difficulty change things are getting quicker.
I can now mine 100 coins a day and am in the process of expanding my setup further by another 50%. Justabitoftime is going to start mining, my challenge is to make sure my setup is bigger than his :)
[/quote]I too was around when the first alt-chains started including Litecoin.
But basing my calculations on how past alts have performed I can see the price nearing 0.0001btc to 0.0003 btc before it is “bottomed” out.
Just my view. I could be wrong.
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Feathercoin profitability calculations are wrong, because the real Feathercoin value is near 0,002, so mine and keep your coins.
You are making a huge profit, it will be obvious in a month!
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[quote name=“Smoothie” post=“8786” timestamp=“1370160574”]
I too was around when the first alt-chains started including Litecoin.But basing my calculations on how past alts have performed I can see the price nearing 0.0001btc to 0.0003 btc before it is “bottomed” out.
Just my view. I could be wrong.
[/quote]You’ll have to show me the calculations. From my view we are going to be just under 100% profitability after the next difficulty change. So the price seems okay where it is for now and when we hit that next difficulty change we will have more exposure, more services and more hash power.
Going forward I can see our value being at the very least 0.001.
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Coinchoose is showing 65% profitability. I thought it is around 90% right now.
90-95% is a good target for long term stability.
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We are 80% of litecoin. Therefore all arguments against the coin value are baseless.
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[quote name=“Bushstar” post=“8790” timestamp=“1370164994”]
[quote author=Smoothie link=topic=1119.msg8786#msg8786 date=1370160574]
I too was around when the first alt-chains started including Litecoin.But basing my calculations on how past alts have performed I can see the price nearing 0.0001btc to 0.0003 btc before it is “bottomed” out.
Just my view. I could be wrong.
[/quote]You’ll have to show me the calculations. From my view we are going to be just under 100% profitability after the next difficulty change. So the price seems okay where it is for now and when we hit that next difficulty change we will have more exposure, more services and more hash power.
Going forward I can see our value being at the very least 0.001.
[/quote]Aside from the past price data on other alts…just looking at[size=12pt][b] lowering [/b][/size]the max difficulty change upwards by 10 times from 400% to 40% coupled with 4 times less blocks to adjust difficulty equates to 2.5 times more inflation in terms of coins.
Take current price of when the change happened 0.0007 btc / 2.5 = 0.00028 btc.
That is just a fundamental view based on the stats (new stats) of the FTC network.
Simple math really.
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@Smotthie You’re going to hit Zeno’s paradox. Unlike the federal reserve system, inflation comes from ability to profit not ability to print. Mining is driven by both dedication to the network as an internal self motivation and from the ability make a little extra which is external profit motivation.
There will be more coins, but the population of coin miners who are in it to sell is going down. Again there’s more to be made in litecoin and bitcoin, therefore at the same time that price is dropping the hashrate is too so it will take longer to send coins to the exchange which means you can easily miss your target price.
The more they sell, the more they leave, therefore the less the price will drop. You can’t use pure quantitaive analysis on this beast. You have to look at the dynamics. Think of it like rocket fuel. Some of the mass of a space shuttle is the fuel it has to carry to take off. So you are expending energy to move fuel. As you spend fuel you have less mass to push up. We’re going to go to 0.00045 max at which point the majority of the miners will be those in for the long haul.
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[quote name=“zerodrama” post=“8798” timestamp=“1370172742”]
@Smotthie You’re going to hit Zeno’s paradox. Unlike the federal reserve system, inflation comes from ability to profit not ability to print. Mining is driven by both dedication to the network as an internal self motivation and from the ability make a little extra which is external profit motivation.There will be more coins, but the population of coin miners who are in it to sell is going down. Again there’s more to be made in litecoin and bitcoin, therefore at the same time that price is dropping the hashrate is too so it will take longer to send coins to the exchange which means you can easily miss your target price.
The more they sell, the more they leave, therefore the less the price will drop. You can’t use pure quantitaive analysis on this beast. You have to look at the dynamics. Think of it like rocket fuel. Some of the mass of a space shuttle is the fuel it has to carry to take off. So you are expending energy to move fuel. As you spend fuel you have less mass to push up. We’re going to go to 0.00045 max at which point the majority of the miners will be those in for the long haul.
[/quote]Now that we obviously disagree let’s watch.
Keep in mind that in the thread on bitcoin talk of the hard fork I predicted the price would plummet when it was at 0.0017btc. Then a week or two later it went to well…you can look at the price yourself.
I may be wrong on this next prediction, but dont be surprised if it manifests itself.
