Feathercoin renumeration
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Hey guys. I am wondering, what is the renumeration, i.e. whats in it for the feathercoin devs? Justabitoftime, bushstar, and others? There was no premine, but apparently 2.8 million coins were mined in the first day (Block 2 to block 14451), which currently have a market cap of over $500k (http://coinmarketcap.com/)
Anyone know, do these coins go to the devs? To opportunistic miners? Who took these coins?
In my opinion, the [i]perception[/i] of fairness is very important to a coin’s health, but as we can see, people mine where the money is (current network hasrate 9GH/s).
So my question is, we have people working full-time for this coin, what’s in it for you guys? Do you hold a substantial chunk of coins? Or is there something else, are you receiving a salary for this work (in FTC?)
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[quote name=“abdullahadam” post=“24231” timestamp=“1375473400”]
Hey guys. I am wondering, what is the renumeration, i.e. whats in it for the feathercoin devs? Justabitoftime, bushstar, and others?
[/quote]To make money, just like you, me and everyone else here, and to sing a little and sometimes dance, to enjoy a beer, to meet new people, To rebel againest credit cards, to build rigs, to read heart warming poetry and to have some fun.
[quote author=abdullahadam link=topic=3160.msg24231#msg24231 date=1375473400]
There was no premine, but apparently 2.8 million coins were mined in the first day (Block 2 to block 14451), which currently have a market cap of over $500k (http://coinmarketcap.com/)
[/quote]A lot of coins where mined at the start because
1. You get 4 times more coins than litecoin (that is what your comparing to)
2. Feathercoin was announced during a media high on digital currencies which generated a large following quickly
3. The difficulty was low, very low
4. Miners where using GPU’s (High Hash Rates)Please go here if you haven’t already.
feathercoinmyths.com[quote author=abdullahadam link=topic=3160.msg24231#msg24231 date=1375473400]
Anyone know, do these coins go to the devs? To opportunistic miners? Who took these coins?
[/quote]No one took them, they mined them just like I’m mining right now.
A lot of people that mined early, cashed out early also, so I’d say clever investors probably hold a lot of those coins right now.[quote author=abdullahadam link=topic=3160.msg24231#msg24231 date=1375473400]
In my opinion, the [i]perception[/i] of fairness is very important to a coin’s health, but as we can see, people mine where the money is (current network hasrate 9GH/s).
[/quote]I mined here when feathercoin was in the difficulty trap (before block 32000) and put my Ghash into it, and so did a lot of our loyal members, we have mined feathercoin through the bad as well as the good.
Jump miners sell end of day normally, there in it for the quick small profit.
People mine where the money is but there NOT feathercoiners mate, the ones that stick around are.[quote author=abdullahadam link=topic=3160.msg24231#msg24231 date=1375473400]
So my question is, we have people working full-time for this coin, what’s in it for you guys? Do you hold a substantial chunk of coins? Or is there something else, are you receiving a salary for this work (in FTC?)
[/quote]Money, Yes (Some of us hold a few hundred and consider them a lot, while others hold a few thousand) and no salary.
I spend about 30 hours a week in feathercoin doing two or three (this week four) different jobs.
My time is an investment in feathercoin. -
[quote name=“abdullahadam” post=“24231” timestamp=“1375473400”]
Anyone know, do these coins go to the devs? To opportunistic miners? Who took these coins?
[/quote]These coins belonged to early miners who were in the right place at the right time, I mean the Bitcointalk forum when Feathercoin was released. The currency was started with zero difficulty which wasn’t the best idea definitely, but what’s done is done, time to move on. Most of these coins have been sold and bought many times by this moment.
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Well I hope this helps bushtar get a better job. Something like what happened for the creator of litecoin.
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fontas and koolio bought up all the feathercoins today. ;)
I have 102 left from recent mining.
Update : Justabit accidentally sent me 7 Worldcoin … so I kinda did get some remuneration. ;)
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I bought as much as I was willing to loose via the BT Google order book (these are the so called instamine coins that miners were desperately trying to sell to cover their power costs), I have also mined with my meager 1260kHs, I have also invested more BTC in to Feathercoin over the past few months. I believed at the start, like I still do now, that this coin had a great future ahead of it, so I decided to pretty much devote all of my time in to it (for free).
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[quote name=“Tuck Fheman” post=“24254” timestamp=“1375478015”]
fontas and koolio bought up all the feathercoins today. ;)I have 102 left from recent mining.
[/quote]They are the ultimate at collecting them all…
Them at work.
[img]http://img.gawkerassets.com/img/188rkolzd8377jpg/original.jpg[/img] -
[quote name=“Tuck Fheman” post=“24254” timestamp=“1375478015”]
fontas and koolio bought up all the feathercoins today. ;)I have 102 left from recent mining.
[/quote]Mine excluded :) Haven’t sold any FTC which I’ve mined since May. I promised myself.
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[quote name=“abdullahadam” post=“24231” timestamp=“1375473400”]So my question is, we have people working full-time for this coin, what’s in it for you guys? Do you hold a substantial chunk of coins? Or is there something else, are you receiving a salary for this work (in FTC?)
[/quote]For me… no remuneration. I turned down the concept of being paid, tips welcome, but payment no. I love the grassroots playing field we have here and the community behind it. It is an open door and a warm place. My spare time is enjoyed here for satisfaction more than anything else.
