Feathercoin price
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This is pretty typical stuff on markets. Someone with a large number of something put lots of sells to push the price down to buy more cheaper. This even happens with food markets, read The Grapes of Wrath set in the dust bowl during the Great Depression. People with large farms and canneries would can their products and flood the market with them when smaller farmers bought their goods to market. The goal was to drive smaller farmers out of business and buy the farms.
I use to enjoy watching this on Bitcoin was the price was more volatile than it is now. Someone would come along and place large 1,000BTC+ sells. People would get scared and sell their Bitcoins making the price go down, and then the sell would disappear without actually selling any so the market gets confidence back and the price returns. So someone with a lot of coins who wants to buy more uses their resources to make the price cheaper before they buy.
Looking at Bitcoin it seems that over time more and more whales join the party and bring stability rather than the volatility that they initially cause.
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I gonna love this in fact.
I bought in another 6k FTCs at just 0.00041 each today! :P You just need to be patient enough, and not rush over things because whales are trying to unload their sacks.The current FTCs does look a lot like the early BTC… not for LTC as its mostly following BTC’s price.
We should see an increase in price once AlphaT’s ASICs are out in 3~6 months time as mining gets more difficult.
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[quote name=“eaxvac” post=“50666” timestamp=“1389176758”]
We should see an increase in price once AlphaT’s ASICs are out in 3~6 months time as mining gets more difficult.
[/quote]So that basicly means it’s better to invest in FTC than in Mining hardware cause when the ASICs come GPU mining would be pretty much useless with the difficulty rising true the roof ;)
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[quote name=“Morderchai” post=“50683” timestamp=“1389180827”]
[quote author=eaxvac link=topic=6677.msg50666#msg50666 date=1389176758]
We should see an increase in price once AlphaT’s ASICs are out in 3~6 months time as mining gets more difficult.
[/quote]So that basicly means it’s better to invest in FTC than in Mining hardware cause when the ASICs come GPU mining would be pretty much useless with the difficulty rising true the roof ;)
[/quote][quote author=eaxvac link=topic=6549.msg49832#msg49832 date=1388887023]
[quote author=ghitzafunny link=topic=6549.msg49762#msg49762 date=1388867477]
[quote author=eaxvac link=topic=6549.msg49758#msg49758 date=1388865604]
Stocked up an additional 20k FTC today with its price at 0.0005 of BTC :P
I’ve faith in this community…
[/quote]
WOOOW , an additional ?!? 20k FTC , how much did you have before :)) ?
[/quote]Probably just 1000 that I mined myself with my GPU :P
Ok, this is why I bought the 20k FTCs outright… I was, was about to pre order the ASIC from Alpha technology, but a second thought came to my mind…
I did some calculation in terms of getting Alpha’s ASIC to mine vs buying them outright right now. Here it is:
Buy 39,354 FTCs with 12,000 GBP (Instant! no trouble)
[b]VS[/b]
Buy 25MH miner for 12,000 GBP. You’ll get 488 FTCs daily starting from 6 months from now.
To get 39,354 FTC with the ASIC miner you need 80 days (488 coins/day at difficulty of 200).If the price does goes up without difficulty increasing a lot, this might well proof me wrong. But the chance of that happening is almost zero.
The mining business is never easy, and its always a loss making at the start. I’m choosing the easy way out here.
[/quote]Yes… here’s a post that I wrote a week ago.
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First of all I want to point out that I am an happy FTC holder, and still continue to buy FTC every month (yeah, converting the good ol’ fiat paycheck to the future of currency! ;) ) because it is so cheap, and I love cheap.
Second, I am happy with the fact that the FTC/BTC ratio is… unbelievably stable. I have seen LTC following BTC to the moon, crash in the ocean and take off again, and amidst this crypto anarchy FTC has been the most stable coin by far.
However, (and yes, this is the part where you discover that I am a crypto noob, impatient and quite easily frightened :P) I am worried. When looking at the buy and sell orders at BTC-e, I don’t see a sell wall. I see so many walls that we could easily call it a house, castle or whatever. Then, looking at the buy orders, there is little to no support after .00035. It seems to me that it wouldn’t take a lot for the coin to actually plummet all the way to .0001, which would obviously be disastrous.
I am not the most active member here (not by a long shot) but I have been following this forum on a daily basis for probably 3 month’s, and I am really impressed with the community behind Feathercoin and the overall positive “can-do” attitude. Initiatives like Link have been mindboggeling and extremely impressive to me. And that is, at the same time, the thing that confuses me.
Good things are happening constantly, we are improving every day, chrisj get’s on some really good shows and totally rocks it, but nothing really happens in terms of price development. If anything, the coin is dropping even more (currently .00041, but .0004 a few minutes ago).
I read that some whales are keeping it down ATM, but do we know for sure? Isn’t it just a huge group of dissapointed or scared bagholders who bought their FTC at .0007? Maybe even .001? I just can’t see the reason for whales to keep pressing down the price for so long (although I have absolutely no idea how a whale thinks, and “for so long” might not be an accurate description for a 2 month period, but that’s where my noobness shows through I guess ;) ). Wouldn’t it hurt their chances of making money on the coin when many people (or well, the BTC-e trollbox daytraders) that aren’t that actively following this community and progression of the coin are leaving/panic selling it?
I guess my greatest fear is that a big part of my savings (yes, I do spread my risk a bit, but FTC is my main piggy bank as I feel it has a lot of potential and it just seems very solid) will just evaporate, either by plummeting prices or even complete delisting of the coin on BTC-e. (although volume is still pretty good)
Long story short: This newb need some comforting, maybe a blanket and some coco, and he need someone to reassure him and calm him down. It would be greatly appreciated ;D
Thanks in advance, and please continue your great work for the community!
-Remonius
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Thanks Remonius for your post. I think it describes well the mixed feelings, confusion and fear (for example being delisted from BTC-e) looking at the price of Feathercoin at the moment (even below 0,0004) and all the sell walls.
But maybe the current price has to do with all the negative news and bank warnings lately regarding cryptocurrency in general and the uncertainty it brings with it. Even Litecoin seems kind of stuck now at one price level, although it is regarded as the silver of cryptocurrency.
Furthermore Feathercoin is still very young, I think not even a year old.
What I have read about the prices of earlier coins is, that they went through similar phases…so we have to keep faith and think long term. All the FTC bashing going on at BTC-e trollbox is not very helpful though.
I’m a noob in crypto also, so can’t come up now with more than this…
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Remonius
I hear you. That could be on the mind of many, but just not willing to say so out loud.
Here is what a wise trader of gold once had to say in this regard.
If a monetary holding, (asset), is keeping you awake at night, then the obvious thing to do is
reduce your holdings in that asset, until you are able to sleep soundly at night once again.
fkimbe -
[quote name=“mbn” post=“51684” timestamp=“1389574759”]
Thanks Remonius for your post. I think it describes well the mixed feelings, confusion and fear (for example being delisted from BTC-e) looking at the price of Feathercoin at the moment (even below 0,0004) and all the sell walls.But maybe the current price has to do with all the negative news and bank warnings lately regarding cryptocurrency in general and the uncertainty it brings with it. Even Litecoin seems kind of stuck now at one price level, although it is regarded as the silver of cryptocurrency.
Furthermore Feathercoin is still very young, I think not even a year old.
What I have read about the prices of earlier coins is, that they went through similar phases…so we have to keep faith and think long term. All the FTC bashing going on at BTC-e trollbox is not very helpful though.
I’m a noob in crypto also, so can’t come up now with more than this…
[/quote]Agree with both sides it seems of the story. 1) FTC is tied to the overall crypto scene picture and does follow BTC for the most part; however, lately it has adjusted to following at a lower level yet again it seems. What concerns me though when I compare against the others (and we have to realistically do so) is, 2) FTC is new but it is older than most from what I’ve understood. Wasn’t FTC the first “fork” of Litecoin, and new coins like Mega, World, Prime, followed - but have solid past FTC up in capital interest/market gain so far. Just seems like FTC can’t catch to train lately even with all the good work going on.
And with all the great work, ok a 3rd topic… It is all great work and ideas but core to ever being useful is for FTC to survive. That should be the focus somewhat; adoption way outside of the UK, publicity, info on what FTC stands out (if it does), and pumping the currency somewhat may be necessary. I’m afraid that the small community aspect of the coin is nice to talk about but small communities are not going to survive in the long-term.
Maybe it is all too early to worry about though as well.
-T
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yeah price of btc/ftc is so unbelievably stable :o
its down 40% in a week. just because btc-e doesnt have enough decimal points to notice it crashing.
i know everyone has mixed feelings about btc-e’s involvement in ftc but the truth is they can take it higher than worldcoin and megacoin in hours if they choose. they can also hold it down where it is now. it appears they are done dumping to themselves to entice more dumping atm. i still believe once they have accumulated enough at this low price they will open ftc/usd trading. i dont know who else would be adding 50btc a day of buy orders to the .0004 level. is there some unknown ftc whale?
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[quote name=“Bushstar” post=“50658” timestamp=“1389173595”]
Personally I see the bright side of the market suppression as the coins are still affordable and relatively stable.
[/quote]I couldn’t agree more. I bought about ~800 ftc at ~28 US cents. Since then I’ve just been mining on and off.
I know I could be buying low and selling high, but I just don’t have the energy or time to day trade.
I’ll be kicking myself in the long run for mining instead of buying, but I feel that buying coins is no where near as fun and is more nerve racking.
By having cheap and stable prices, it provides a greater incentive for new adopters. In time, this will pay off if that’s what your after.
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Well, actually there’s a buy-order over 380BTC (or 1,058,013FTC !!!) at .00036 on BTC-e right now ^^ so the price shouldn’t drop too low…
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the Feathercoins are still affordable and stable with a strong community around it, and that in my opinion a good way to promote a coin at the beginning…long live to the FEATHERCOINS and this great community who support it.
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I think the negative talking at BTC-e about Feathercoin is harmful. The only way to deal with this is positive news about Feathercoin reaching many people. For example an article about Link or Coindesk of Cryptonews?
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The community should come up with some kind of Crypto Currency Merchant adoption league table so people can see for themselves which coins are more likely to succeed :)
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Why I mentioned Coindesk / Cryptonews earlier regarding Link
I googled “Feathercoin Link project”
Found an forum article [url=https://bitcointalk.org/index.php?topic=398745.0.]https://bitcointalk.org/index.php?topic=398745.0.[/url] This starts with mentioning Link-project, ends quickly with comments about Feathercoin dying.
One short reddit comment [url=http://www.reddit.com/r/CryptoCurrency/comments/1u47hy/project_from_the_feathercoin_community_finds_its/]http://www.reddit.com/r/CryptoCurrency/comments/1u47hy/project_from_the_feathercoin_community_finds_its/[/url]
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Yeah… they don’t seem to like us much ahy…
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[quote name=“bmw_525i” post=“51725” timestamp=“1389603963”]
Well, actually there’s a buy-order over 380BTC (or 1,058,013FTC !!!) at .00036 on BTC-e right now ^^ so the price shouldn’t drop too low…
[/quote]I just setup my mini barrier at 0.0004 :P
[img]http://imagizer.imageshack.us/v2/800x600q90/850/pvi8.jpg[/img]
Also, I heard people talking about FTC/USD pair coming to BTCe tomorrow?
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[b]Re: “Coin adoption league table” - That is easy, we already done it for you.[/b]
[quote]
Some kind of Crypto Currency Merchant adoption league table so people can see for themselves which coins are more likely to succeed
[/quote]1. Go to the “Your Ideas for Feathercoin” Tab.
2. Add a coin you like as an “Idea”
3. go to “Off topic”
4 [ANN] Announce the Member review of Coin XXXX see Feathercoin ideas Tab.
5. Await the votes and the massive increase in Rep…And any other issue or service. We may have to review how many votes members get (based on Rep?) depending how many subjects are addressed with a vote, or deserve one of your 100 votes…
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[quote name=“Calem” post=“51780” timestamp=“1389617739”]
Yeah… they don’t seem to like us much ahy…
[/quote]
If someone don’t like (hate?) you, that’s mean you doing something right. -
[quote name=“bmw_525i” post=“51725” timestamp=“1389603963”]
Also, I heard people talking about FTC/USD pair coming to BTCe tomorrow?
[/quote]Where did you hear this?
