Increase Feathercoins buy volume.
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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.
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[quote name=“TrollboxChamp” post=“52795” timestamp=“1389916562”]
[quote author=podizzle link=topic=6892.msg52787#msg52787 date=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
[/quote]sorry been a little bitter because of the price going from .0006 to .00037 in 2 weeks time. My point was the dfference between mining a more profitable coin (25% max i guess) and lowering the security isnt worth it. especially considering how fast prices can change profitability.
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The price will go up agian, then he will go down again and up agian…
I believe you need to look for the very long time.
The coin is very young. I choose to invest in FTC mainly because of the community.
People here doing alot for FTC and for the long run this will be the diffrent from all the other coins out there. -
[quote]The price will go up agian, then he will go down again and up agian…
I believe you need to look for the very long time.
The coin is very young. I choose to invest in FTC mainly because of the community.
People here doing alot for FTC and for the long run this will be the diffrent from all the other coins out there.[/quote]Just because a coin has a great community does not mean the coin will go up in price sometime in the future, but it is tempting to pick up a couple of extra FTC at current price level.
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[quote name=“mmyhre” post=“52930” timestamp=“1389966172”]
[quote]The price will go up agian, then he will go down again and up agian…
I believe you need to look for the very long time.
The coin is very young. I choose to invest in FTC mainly because of the community.
People here doing alot for FTC and for the long run this will be the diffrent from all the other coins out there.[/quote]Just because a coin has a great community does not mean the coin will go up in price sometime in the future, but it is tempting to pick up a couple of extra FTC at current price level.
[/quote]I think he means it’s more about backing people rather than technology. Invest in things that have hard working people supporting them, an asset which has something generative underlying it rather than just buying it [i]hoping[/i] it will go up.
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you all right. I meant that FTC as the support of this stong community.
never the less i agree that just a community is not enough and like someone else mention the goal should be that the coin will be used for real trade (for example in e-bay).
I think that with work of the community in the long run FTC will be there.
At least i hope so… ::) -
Hello friends,
Here are some more thoughts on how we can improve Feathercoin’s resilience against the current market forces. While I may be speaking in categorical terms this is only to save myself time from caveating everything I say with “my opinion is” or “there is a tendency to…” etc. Please offer your objections or thoughts.
[b]TLDR[/b]:
[list type=decimal]
[*]Improve the website
[*]Spend and earn your Feathercoins for [url=https://feathercoinmarket.com/]real goods[/url]
[*]Get involved: if there’s a problem you are the problem
[/list][center][size=14pt][b]1. Make a better [url=http://forum.feathercoin.com/index.php/topic,6616.msg52168.html#msg52168]website[/url][/b][/size][/center]
Knowing how to look good is in itself a form of knowledge. When speculators approach their purchasing decisions in a market they are not buying what [i]they[/i] think is a good, they they are buying what they believe [i]other[/i] people think is good. That’s the difference between a speculator and a retail buyer who buys for their personal utility.
Question: With the same information I have just learned what will other people do?
If answer = buy [i]then[/i] buy now and sell later for profit.So by making our website new and current we will be sending a powerful signal to the speculators (liquidity pools) in the market that we believe in ourselves and know how to communicate with others.
In addition it will also help encourage new members join.
Remember reputation is not a choice, it exists as soon as two or more people agree on a fact about you.
[center][size=14pt][b]2. Spending and earning Feathercoin[/b][/size][/center]
Another thing you can do to increase Feathercoin’s market cap is to buy and sell everyday goods and necessities for Feathercoin giving the market an alternative price comparison than just Feathercoin Vs Bitcoin.You can break down your Feathercoins in to 3 categories:
[list type=decimal]
[*]The ones you save/hoard
[*]The ones you spend and earn on everyday goods and services
[*]The ones you use to manage your risk in the market (eg arbitrage of selling in to strength on the market
[/list]Personally I tend only to engage in the first two. But risk management is a healthy part of anyone’s financial port folio and I do not want to ignore it.
Most people just do number 1 because it is the easiest. Number 2 is often left to other people but the I would claim that it’s not as difficult as you think and will be a strong signal to the market that you believe Feathercoins are worth more than some theoretical future value.
By only engaging in 1 and 3 you are making yourself a slave to the market, the general will of society. You are allowing your activities to be controlled by the decisions and beliefs of others and depriving yourself of independence.
[center][size=14pt][b]3. Getting involved in Feathercoin development[/b][/size][/center]
In a business you are engaged in 3 principle activities:[list type=decimal]
[*]Making money
[*]Saving money
[*]Increasing awareness
[/list]Or put differently:
[list type=decimal]
[*]Creating value
[*]Protecting previously captured value
[*]Spreading awareness to get others to engage in the same enterprise (as either consume or producer)
[/list]A business is a sequence of activities. There are two main departments in a business: the producers (in our case coders) and the communicators (marketers who talk about the work of the coders).
[b]Historically successful businesses have been ones where the developers and marketers have shown a mutual respect for one another’s profession[/b]. Interestingly everyone is a marketer even if they are a coder because there is no such thing as non-communication. Everyone is a representative of Feathercoin whether they like it or not if they are engaged in the business.
So you can get involved in the code by starting with a [url=http://forum.feathercoin.com/index.php/topic,6894.0.html]tiny step[/url]. And/or you can help by talking about Feathercoin to others and [url=http://feathertipper.com/]helping to develop[/url] awareness and [url=https://bitcointalk.org/index.php?topic=415668.msg4510628#msg4510628]understanding[/url].
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[img]http://imagizer.imageshack.us/v2/800x600q90/202/u0hd.jpg[/img]
Took out some FTCs with the BTC I mined today via Middlecoin on 2 GPU :D
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;D
