Increase Feathercoins buy volume.
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I’ve been thinking about some of these same ideas in the last week. I split my mining rig into two separate rigs. I put one R9 290 in one rig, mining nothing but FTC constantly, to support the network. I put my 2nd R9 290 into another computer to mine the most profitable coin, then trade that in for FTC on the exchanges. I think the biggest thing that anyone can do to support is, like chrisj has suggested, talk to some merchants! Get people accepting FTC as payment for goods and services. This is my ongoing project with my boss. I work at a screen printing shop and we supply/run a handful of t shirt websites. At [url=http://www.countdownzed.com]www.countdownzed.com[/url] we’ve made the leap to accepting FTC and I’m working toward offering the option locally at the shop for custom orders.
I’ve also got a much bigger project in the works, that I will share as soon as I have all my ducks in a row ;)
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[quote name=“chrisj” post=“52202” timestamp=“1389728802”]
We have seen before that BTCe like to do IPOs of coins and recently there was a big push to get FTC/USD pair trading. They may be involved in keeping the price down but it’s hard to believe they own 4.7m FTC.While the strategy made here may work in the short term it may end up having negative effects in the long run. The most effective method is for each of us to approach one merchant a day and ask them to accept Feathercoins. Give Feathercoins away using [url=http://feathertipper.com/]http://feathertipper.com/[/url] and selling things for Feathercoin on the market place: [url=https://feathercoinmarket.com/]https://feathercoinmarket.com/[/url]
[/quote]Agree with that.
I guess switching over to other coins will bring dynamics that we can’t really predict. Could be that we rent the better coin rate to others and the hashrate stays at the end the same. Could be that the hashrate drops significantly (when many start switching) and maybe some forget the value behind FTC - what would kill FTC. What for sure happens is - that you’ll invest more transaction fees ;-)
On the long run - coins with acceptance will make it. And FTC gains more and more of it.
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[quote name=“TrollboxChamp” post=“52221” timestamp=“1389732468”]
[quote author=Undone link=topic=6892.msg52220#msg52220 date=1389732279]
[quote author=Pyxis link=topic=6892.msg52198#msg52198 date=1389728106]
This is very bad for feathercoin if you think about it.Only the community miners will adopt this approach suggested by the OP,
[b]thus dropping the difficulty for miners that just dump all there ftc,
therefore only benifiting those dump miners[/b], they get more coins to dump,
dropping price, so what ever extra your making in the other alt,
the drop in price will negate whatever bonus you make,
you just end up killing feathercoin slowly over time.Does that make sense or am I crazy talking?
[/quote]
I would tend to agree that the above is accurate. While I’d love it if the network hashrate dropped for my own benefit in mining FTC, I think it would hurt the overall stability of the coin.But, I love the passion that the OP is conveying, for sure.
I did buy some FTC with some LTC I had mined last month over this last weekend, and it did feel really good, though.
[/quote]Thanks man. Appreciate that. Only trying to brainstorm ways to bolster FTC. I am glad were all able to come together and have a civil discussion with opposing viewpoints. Its really one reason why i like this community so much. Sadly it will fade as the community grows so we must work to keep everyone feeling a part of this crazy machine we call feathercoin!
[/quote]I agree Undone, I love these posts and I do love the passion TrollboxChamp is showing coming up with this plan.
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[quote name=“zerodrama” post=“52213” timestamp=“1389730862”]
[quote author=Pyxis link=topic=6892.msg52198#msg52198 date=1389728106]
This is very bad for feathercoin if you think about it.Only the community miners will adopt this approach suggested by the OP,
thus dropping the difficulty for miners that just dump all there ftc,
therefore only benifiting those dump miners, they get more coins to dump,
dropping price, so what ever extra your making in the other alt,
the drop in price will negate whatever bonus you make,
you just end up killing feathercoin slowly over time.Does that make sense or am I crazy talking?
[/quote]THIS.
Coin-hoppers saved our asses when we were under attack, but now every single alt gets wrecked by them.
[/quote]I didn’t suggest feathercoin was getting wrecked by coin-hoppers nor am I arguing the pros and cons of dump mining, re-read my post and the OP’s again.
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[quote name=“eaxvac” post=“52293” timestamp=“1389757678”]
I have just been notified about the shipment of my 2 – 600GH/s butterfly labs ASIC.
:)
I will be mining BitCoins and trade then for FTC straight. (0.5 BTC daily)I am looking into breaking even on hardware, get back the money and the rest will be speculation on crypto (FTC)
[/quote]
Awesome!! And I hope for your sake that you’re also able to wring some profit from the sheer BTC dumps for yourself for your sacrifice.Thanks so much.
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Efforts like the above and the ones by MTRisner, and threads like this will absolutely give big amounts of steam to Feathercoin.
It creates a ripple effect. Maybe a friend creates an account on BTC-e and buys his/her first crypto in Feathercoin. Maybe another friend decides to mine and long hold, thus decreasing the amount that the dumpers can dump. Maybe someone else starts accepting FTC as a merchant.
Every such move helps greatly. Kudos to you guys.
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awsome
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[quote name=“Undone” post=“52427” timestamp=“1389804536”]
[quote author=eaxvac link=topic=6892.msg52293#msg52293 date=1389757678]
I have just been notified about the shipment of my 2 – 600GH/s butterfly labs ASIC.
:)
I will be mining BitCoins and trade then for FTC straight. (0.5 BTC daily)I am looking into breaking even on hardware, get back the money and the rest will be speculation on crypto (FTC)
[/quote]
Awesome!! And I hope for your sake that you’re also able to wring some profit from the sheer BTC dumps for yourself for your sacrifice.Thanks so much.
[/quote]I think this is a great idea eaxvac. When feathercoin grows closer to its true value you will actually be happy you bought a BFL asic. :D
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Remember if you’re going to be dumping Bitcoin using a SHA-256 miner anyway, you might look to running them on multipool.us or some equivalent. Might be more efficient than just BTC alone.
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Would you mind saying when you ordered them? I wanted to order a pair as well though all the delays made me hold off.
[quote name=“eaxvac” post=“52293” timestamp=“1389757678”]
I have just been notified about the shipment of my 2 – 600GH/s butterfly labs ASIC.
:)
I will be mining BitCoins and trade then for FTC straight. (0.5 BTC daily)I am looking into breaking even on hardware, get back the money and the rest will be speculation on crypto (FTC)
[/quote] -
I think the value of a coin is heavily dependant on the security of the transactions. I believe that characteristic of a coin is underestimated.
The security of Bitcoins transactions is supported by the hash power.
The security of Feathercoins transactions is supported by a centralized system at the moment. I believe that system lowers the value of our FTCs.The total hash power of a coin is very tied to it’s value for me. The more hash power and the more it is distributed, the more I trust in it. I trust in storing my wealth in the coins that will live long with a supportive community.
That is why I stick to mining FTC only. No hopping. Hopping is just lowering our reputation.
The more people will trade with FTC and the more people will mine FTC, the higher the value.
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[quote name=“Matl” post=“52541” timestamp=“1389823805”]
Would you mind saying when you ordered them? I wanted to order a pair as well though all the delays made me hold off.[quote author=eaxvac link=topic=6892.msg52293#msg52293 date=1389757678]
I have just been notified about the shipment of my 2 – 600GH/s butterfly labs ASIC.
:)
I will be mining BitCoins and trade then for FTC straight. (0.5 BTC daily)I am looking into breaking even on hardware, get back the money and the rest will be speculation on crypto (FTC)
[/quote]
[/quote]The orders were placed right after they were up. They are aiming to ship out the first batch by late January to early February.
The wafers are shipped out already :P what’s left is a bit of testing and packaging.[quote author=TrollboxChamp link=topic=6892.msg52467#msg52467 date=1389812750]
[quote author=Undone link=topic=6892.msg52427#msg52427 date=1389804536]
[quote author=eaxvac link=topic=6892.msg52293#msg52293 date=1389757678]
I have just been notified about the shipment of my 2 – 600GH/s butterfly labs ASIC.
:)
I will be mining BitCoins and trade then for FTC straight. (0.5 BTC daily)I am looking into breaking even on hardware, get back the money and the rest will be speculation on crypto (FTC)
[/quote]
Awesome!! And I hope for your sake that you’re also able to wring some profit from the sheer BTC dumps for yourself for your sacrifice.Thanks so much.
[/quote]I think this is a great idea eaxvac. When feathercoin grows closer to its true value you will actually be happy you bought a BFL asic. :D
[/quote]Perhaps hehe :P we are in a sort of speculation stage, no one knows what will happen in future.
We can only make sure its being pushed.[quote author=Undone link=topic=6892.msg52427#msg52427 date=1389804536]
[quote author=eaxvac link=topic=6892.msg52293#msg52293 date=1389757678]
I have just been notified about the shipment of my 2 – 600GH/s butterfly labs ASIC.
:)
I will be mining BitCoins and trade then for FTC straight. (0.5 BTC daily)I am looking into breaking even on hardware, get back the money and the rest will be speculation on crypto (FTC)
[/quote]
Awesome!! And I hope for your sake that you’re also able to wring some profit from the sheer BTC dumps for yourself for your sacrifice.Thanks so much.
[/quote]Perhaps, but profit isn’t my priority. There’s simply some sort of fun in acquiring coins myself rather than buying them outright. I’ll also tend to keep the coins for as long as I can if its mined.
The mining business is never profitable, for as long as moore’s law is still moving. The current batch of ASICs are in the 28nm range, there’s still a lot of space for another 2~6x improvement in speed over the next few years.
I think I am simply betting on future price.
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[quote name=“eaxvac” post=“52682” timestamp=“1389889382”]There’s simply some sort of fun in acquiring coins myself rather than buying them outright.[/quote]
Oh, absolutely. Mining has been a blast for me so far.
[quote author=eaxvac link=topic=6892.msg52682#msg52682 date=1389889382]
I think I am simply betting on future price.
[/quote]Yes. Yes, you are. So am I. :)
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[quote name=“eaxvac” post=“52682” timestamp=“1389889382”]
The mining business is never profitable, for as long as moore’s law is still moving. The current batch of ASICs are in the 28nm range, there’s still a lot of space for another 2~6x improvement in speed over the next few years.
[/quote]You accidentally some words.
It should say:
[quote]
The mining business is never profitable [short term]
[/quote]Which is a true statement. Bitcoin mining wasn’t profitable in the beginning of 2013, yet some miners made a friggin fortune by not selling their coins and holding onto them.
The buy [err, mine] and hold strategy is a VERY good one, especially with ASICs being months away. But don’t hold me to that, just look at the existing market trends and form your own conclusion.
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Payment processing should not be a huge profitable industry. It should be a marginally profitable vocation. Profit is not the goal, it’s the result of being right.
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ftc community not very bright? im not seeing how stopping mining is going to decrease the inflation rate. the difficulty algorithm is designed to mint the same amount of coins regardless of hash rate. less hash = less secure like my friend a few posts above said. stopping mining is a bad idea.
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[quote name=“podizzle” post=“52787” timestamp=“1389911369”]
ftc community not very bright? im not seeing how stopping mining is going to decrease the inflation rate. the difficulty algorithm is designed to mint the same amount of coins regardless of hash rate. less hash = less secure like my friend a few posts above said. stopping mining is a bad idea.
[/quote]
You got it! I wouldn’t say ‘not very bright’, it seems a bit harsh, the need for money often makes us cover up the errors we make in rationalising. But those who have a short term outlook, whose time preference is the near term, are looking for ways to save the price. But there is no short cut to building confidence. The fact is we must continue to have the [url=http://forum.feathercoin.com/index.php/topic,6956.msg52755.html#msg52755]difficult conversations[/url], about how we [url=http://forum.feathercoin.com/index.php/topic,6894.0.html]make ourselves relevant[/url] to the wider enterprise of the industry, which apart from technical innovation means practicing what we preach by [url=https://feathercoinmarket.com/]buying things in Feathercoin[/url] and [url=http://forum.feathercoin.com/index.php/topic,6911.msg52358.html#msg52358]taking initiative[/url].Great leaders make new leaders.
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[quote name=“podizzle” post=“52787” timestamp=“1389911369”]
ftc community not very bright? im not seeing how stopping mining is going to decrease the inflation rate. the difficulty algorithm is designed to mint the same amount of coins regardless of hash rate. less hash = less secure like my friend a few posts above said. stopping mining is a bad idea.
[/quote]Apply your comment unto yourself. I am actually correct. A group of dedicated miners can remove some of the downward pressure on the price of FTC that comes about from the cost of mining.
Yes the factors work in all different ways and which factor carries the most weight is up for discussion. The amount of coins being mined by the current miners really has little to do with it. If there wasnt downward pressure the coins being mined would be held and wouldnt even come into play
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[quote]Increase Feathercoins buy volume. [/quote]
I bought FTC today.
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[quote name=“Tuck Fheman” post=“52829” timestamp=“1389927711”]
[quote]Increase Feathercoins buy volume. [/quote]I bought FTC today.
[/quote]I did the same, even if I said that I wont buy anymore, its too cheap right now.
