My letter to Mt. Gox
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Decided I’d post the letter I sent to Mt. Gox for the last activism. A lot of it dealt with assuring them that Feathercoin was a good choice for their consideration, so it includes my experiences and opinions of the negativities that are attributed to Feathercoin. For the length of the letter I’m sure there’s something useful in here haha
[quote]Hi, my name is Frederick and I am one of the many supporters of Feathercoin. I’m messaging you today to assure you that your decision in considering the addition of Feathercoin to your exchange is a good one. Let me describe to you my views and experiences with it from the beginning.
I was with Feathercoin about an hour after its initial release. Yes, there was no announcement and people claim it to be an insta-mine/pre-mine, but that has been blown greatly out of proportion. The fact is, Feathercoin was released right before a series of pump-and-dump coins such as CNC, JKC, MEC, etc. and because of that, was deemed a pump-and-dump itself. However, Feathercoin actually has a full-time developer (as in he’s left his job to dedicate himself wholly to Feathercoin’s development) unlike most coins released after it. To address the other issues, there was no pre-mine, it was just a rumor spread by those who weren’t able to mine it from the start. As for the insta-mine claim, most people who mined in the beginning have already dumped their coins, and no announcement was probably the best way to go because having announced the coin’s release may have killed it since big miners would have had a chance to mine and dump it, as it was the first new coin in a while.
There were also discussions of Feathercoin offering nothing to the table in terms of technicality. First of all, Feathercoin was released with only a slight difference in comparison with Litecoin, but its intention was not to stay that way. Peter Bushnell, the developer, only released it that way initially, but has big plans in setting it apart over the coming months with unique features and upgrades. Thus, in the coming future Feathercoin will be able to please those in the community seeking a coin with beneficial differences opposed to clone coins. Secondly, what people don’t understand is the general public doesn’t care how a coin works, but only that it DOES work. For example, people don’t know how credit card numbers work or the process chain of it transferring money. The same goes for cryptos once it hits the general public. This means only coins that have persuaded the public to adopt will be used, regardless of what additional features it has over Bitcoin and Litecoin. Feathercoin is constantly creating and pursuing public relations and marketing projects that aim to spread Feathercoin’s name as well as it get accepted by end users. Saying that its forum has over 2/5 of Litecoin’s forum after only little over two months is saying something. Not to mention that the majority of those members only started came in the past month/month-and-a-half.
This leads me to another desirable quality of Feathercoin, its community. First of all, the community isn’t all developers/promoters of the coin. In fact the only person who initially started out backing Feathercoin was its developer, Peter. However, to date, it has several programmers assisting with its development, as well as people with no technical skills, such as myself, assisting in its growth. The importance of this is that the majority of the community are end users of the coin, which gives it a great start already because of its usage and demand in among it. We are also getting new members in the forums who are gamers who have never mined before. This lets us, as well as you, know that Feathercoin is being publicized as well as hoped. The fact is, regular people do a better job of influencing other regular people as opposed to the backend developers/promoters of a coin, and our community is full of these “regular†people, in addition to those who have skill and knowledge that help better the coin.
There are also two other things I’d like to talk about in regards to this coin. One is the recent rendezvous with a 51% attack. Yes it happened, but it was quickly mitigated. As you know, Feathercoin IS a new crypto, and still lack the base to protect it that Bitcoin and Litecoin have. However, that base has quickly grown the past week or two. Anyway, it did not kill the coin, which shows it has resiliency. It’s safe to say though, this would have been unacceptable if the currency was globally used. This is understood and Peter and the other voluntary developers are amidst implementing and trying several ideas that could possibly be used to virtually prevent, or at least greatly diminish, a 51% attack. This goes to show that even after great hardship, Feathercoin only stands stronger and now has a greater global hash rate than before the attack. The other thing I’d like to mention is the communities push into having the coin used as an actual currency. The website already has its own marketplace for Feathercoin to be used, similar to eBay, and has already had sales among the community members. But the best part is that in development is a front end for merchants to accept Feathercoin. That means in a couple of months, once that’s released, we can hope to see greater acceptance of it among merchants, especially following the PR push that will be lead at the same time.
I hope that you have not only gotten through my entire spiel, but that you now have a greater understanding of why your consideration of Feathercoin should not be in vain. It’s a coin still in its infancy, but has great potential to do great things once it matures. I want to thank you for your time as well as your consideration, and I do hope to see Feathercoin on your exchange one day.[/quote]
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Well said
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Thanks! Hopefully they gave it the time of day
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The fact that you felt passionate enough to write such a letter says plenty. Good on you. Each step is a step closer to another goal being completed.
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Sounds awesome…
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This is Great Letter To MT.GOX I suggest you send it to ALL the Major and Start-Up Exchangers to really give Feathercoin the Push it needs to become the Next Widely Used FTC beside LTC and BTC ;)
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Thanks guys :)
[quote name=“joinmicah” post=“18365” timestamp=“1372427371”]
This is Great Letter To MT.GOX I suggest you send it to ALL the Major and Start-Up Exchangers to really give Feathercoin the Push it needs to become the Next Widely Used FTC beside LTC and BTC ;)
[/quote]Are there any exchanges in mind? BTC-e and Gox are the top two, and FTC is one of the initially added ones now on all the newer exchanges coming up, other than MCX-now