Miner looking to switch to FTC from LTC
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https://bitcointalk.org/index.php?topic=300148.0
Let us encourage him to make the switch.
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That’s a good idea. Would you mind if I moved this to the mining forum? I will make sure the mining guys get this.
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[quote name=“MrFeathers” post=“29065” timestamp=“1380062110”]
Why do we want him to switch to FTC? He states that his goal is just to convert any coins he mines into USD. He explicitly states that he has no interest in actually using the coin for anything. He says he is only considering FTC because it has a lower difficulty and higher potential profit margin right now. This is no different than the multipools that switch to the “coin of the hour.” They maximize their profits and then as soon as the difficulty increases they switch leaving us loyal miners to mine back down with low profits over the next day or two. As far as I can see, we would be better off if he stays with LTC.
[/quote]Sorry i do not quite agree,
His mining power benefits the network hashrate, and when he sells ftc, other people buys, might be they want to use it for other than just trading.
So maybe he is not interessted in involving into ftc usage, but at least he fills the marked with ftc others can use instead of people just hoarding ftc´sAlso, I once where where he is, Only saw crypto currency as a way to make profit.
Then i got involved in the feathercoin and their community, now i have a different view of things.
I find joy in helping others, and trying to evolve the coin further. Maybe he one day will do/feel the same? -
[quote name=“svennand” post=“29091” timestamp=“1380103321”]
[quote author=MrFeathers link=topic=3763.msg29065#msg29065 date=1380062110]
Why do we want him to switch to FTC? He states that his goal is just to convert any coins he mines into USD. He explicitly states that he has no interest in actually using the coin for anything. He says he is only considering FTC because it has a lower difficulty and higher potential profit margin right now. This is no different than the multipools that switch to the “coin of the hour.” They maximize their profits and then as soon as the difficulty increases they switch leaving us loyal miners to mine back down with low profits over the next day or two. As far as I can see, we would be better off if he stays with LTC.
[/quote]Sorry i do not quite agree,
His mining power benefits the network hashrate, and when he sells ftc, other people buys, might be they want to use it for other than just trading.
So maybe he is not interessted in involving into ftc usage, but at least he fills the marked with ftc others can use instead of people just hoarding ftc´sAlso, I once where where he is, Only saw crypto currency as a way to make profit.
Then i got involved in the feathercoin and their community, now i have a different view of things.
I find joy in helping others, and trying to evolve the coin further. Maybe he one day will do/feel the same?
[/quote]+1.
Your community is not comprised solely of loyalists. It’s a shifting amorphous group rolling along, picking up some people and leaving others behind. Every little bit of hash power does help the network, and volume on exchanges is required for liquidity in order to do price discovery. If he then makes the transition to a loyalist should be of secondary concern: The average Joe on the street IS your mainstream adoption target, and if he can’t get along then you’ll never reach mainstream adoption.
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Dont forget that the pump/dump of diff is beeing worked on, and the new diff adjustment will hopefully
benefit loyal miners and discourage coin hoppers/multipool, at least there will not be that High increase/decrease -
[quote name=“MrFeathers” post=“29153” timestamp=“1380134984”]
[quote author=svennand link=topic=3763.msg29142#msg29142 date=1380131602]
Dont forget that the pump/dump of diff is beeing worked on, and the new diff adjustment will hopefully
benefit loyal miners and discourage coin hoppers/multipool, at least there will not be that High increase/decrease
[/quote]Just saw that now. This new hard fork looks good! Hopefully this will fix the rapid difficulty increases followed by very slow decreases at high diff. Really looking forward to this :)
[/quote]hehe you are not alone