LOL looks like my post got locked out! and for good reason, so much for my ignorance in joining forces!
Good call on trying to stay away from those shady guys. Lite coin has become the walmart of the coin industry… Take out the little guys to increase market share!
I guess Feathercoin is Target and Litecoin is like Walmart LOL (American retailer joke)
Hey guys, not sure if anybody has seen this or not, but there is some talks about Doge coin and Lite coin joining mining forces…
Is this something that we might be able to jump in on as the “Big 3” ??
Litecoin, Feathercoin and Dogecoin???
Just a thought for price stability and a way to get us out there as possibly part of the Big 3!
Check out the article:
http://www.coindesk.com/charlie-lee-proposes-merged-mining-litecoin-dogecoin/
Well hopefully China quickly decides what they are going to do with Bitcoin and Mt. Gox can give back all their bit coins back to the rightful owners…
But unfortunately the damage has been done!
I wonder if there is an way to determine if miners are bailing out across all crypto currencies or not?
The Past few weeks I have been trying to determine what my cost basis is vs the profitability of the coins that are being mined.
Right now @ 3,000Kh/s I am generating ~45-55 FTC coins a day…
Average 50 FTC
(Exchanged @ .0003 FTC / BTC) = 0.015 BTC (@ $550/BTC) = $8.25
Power: ~2000 Watts @ .10cents / KWh = (.20cents/hr or $4.80/day)
Net Revenue: $3.45/Day
This does not even included the added BTU that has to be pulled out by the AC running because of the heat that is generated from 4 R9 280x cards and the box fan running to keep them cool.
At this point I think that I would be lucky if I was breaking even…
This is hardly worth my time to ensure the rig is working, checking rates, exchanges etc. I am seriously debating on just getting out of mining all together and selling equipment.
What is everybody’s thoughts?
Thats what I was going to say… is this Scrypt-N?
Why not call it “F”-Scrypt (Feather… not the other word you thought of!!) … or even better… YOLO-Scrypt haha O0
A-Scrypt would be cool as for “Advanced” Scrypt
Ya scrypt jane blows… even with 4 R9 280x test cards that I have… i was only pulling 420kh/s!!
Soon before we know it we will be running in decimal .03kh/s lol
Also check out some new coins that are coming out that are “Anti-Asic” - UltraCoin??
Coindesk just posted a video about a new Scrypt ASIC coming out for $10,000 USD it delivers 100MH of scrypt hashing power…
This is the conclusion that I have come to as well… once ASIC’s were brought into bitcoins picture it raised the stakes for bit coin as a whole. IT required more of an investment to mine, thus raising the price of the coin considerably because it became more valuable.
Think of it as the way the diamond industry has done this, Diamonds were pretty cheap compared to todays standards however since they limit the number the comes onto the market it has created / demanded a higher price for them.
This is the same way a currency (FTC) will probably operate. In the next few years as ASIC’s come into the picture, very few will control the vast amount of coins on the market because they hold the power to do so, as a result, price goes up. This is what happens typically in free markets as it does here in the U.S. of A.
Doge coin created their own frenzy and kicked it off great at the beginning, sucked people in with high amounts of coins, and a relatively easy difficulty causing people to go on a frenzy to jump in with both feet. However, after just a few months the reward block halved and lots of people are locked in and propping it up because they perceive value in the coin.Not necessarily what technology the does / doesn’t offer.
I’ll sacrifice a couple of Doge coins :-) Maybe that will appease them! LOL
I think the reason is due to all the multi-pool mining. They do an auto convert to BTC immediately and no more need to pull money out, put it in your wallet then go to the exchange.
Because of this as FTC is mined, its sold driving the price down due to people looking for MAX profits right now.
To be honest, mining for crypto is really becoming cost prohibitive and not very profitable as it was a few months back… Back in Jan FTC was ~$.40 cents each and now its at ~$.17 cents each.
If my pool is mining 2 blocks / hr and I earn 1 coin per block on average that’s not even really meeting electric costs at that point.
There are many items that are going on with Feathercoin lately. With the current “peck” attacks, change of algorithm, ASIC’s on the horizion, low participation rate, etc
The big one that is coming up soon is the difficulty targeting algorithm change. Once this change is made, do we forsee this to become a more profitable coin to mine?
I am curious as to what the game plan is going forward and see the current items on our plate…
1. Fix the re-target difficulty rate (currently in progress)
2. Look hard into whether we want to participate in the ASIC movement or shy away from them??
3. Do we want to be known as the GPU Friendly Anti-ASIC coin??
4. Whats next and how do we get the FTC movement going again? Crypto coins have lost a lot of momentum since the MT GOX issues over the past 2 months.
Any other thoughts / ideas?
Here we go again today with another 9hr High difficulty rate and only 1 hr at a lower difficulty rate once it resets.
Any idea on the time frame these difficulty changes might be implemented?
We def need to get this change going soon… This is killing loyal miners with the hash rate so low, and it will take over 9 hours to re-target???
Over the past 2 days the multi pools come in and raid the FTC difficulty rate
Right now there have been 2 instances where difficulty remained HIGH for 9+ hrs, with only 3GH/s then once retargeted it only stayed at this for
That is fine with the share or coin price…
Buy why doesnt the overall market cap increase with the increase of coins that are maintaining value??
That is what I am wondering about?
Wow… u have to wait 4 hrs now before u can spend coins that are mined… thats really bad…not to mention they went from 1,000,000 block reward just a month ago down to 250,000 block reward today… I think this might hurt Doge coin in the long run!!!
Note: This is a mandatory update as it involves a hard fork of the network. Please make sure you are running 1.6 to ensure that you’re on the correct blockchain and not at risk of losing your DOGE
As per block 145k, the network will hardfork to adopt a new difficulty retargeting algorithm.
Update highlights:
The DigiShield difficulty algorithm: again, developed and contributed by the very clever folks at reddit.com/r/DigiByte , this allows for rapid block retarget times, and rapid recovery from multipools suddenly hitting the network; meaning that our miners will no longer suffer from extremely long block times if a Multipool does decide to jump on board. This new algorithm will retarget our block times much faster - ensuring the hard-mining shibe is not left holding the bag after the multipool ransack.
3.
_Coins mined must mature for 4 hours (previously 30 minutes) before being spent. _This is a precautionary measure, to give everyone more time to communicate following any future fork of the network.
I am trying to figure this out, as more coins are created, how is it that:
1. Coin price remains relatively the same ~.21 cents
2. Market Share remains relatively the same ~$7.5 million USD
Typically as more coins (or shares) are created the value per coin decreases because the market share remains the same. (Market Share / Total coins = coin price)
However, as more coins get created the price and market share remain the same??
I am a bit confused! can somebody clear this up??
We def need to get this change going soon… This is killing loyal miners with the hash rate so low, and it will take over 9 hours to re-target???
maximum change on difficulty must be fixed ?
Yes and no, this is where it becomes a double edged sword and may cause unintended consequences…
Just like what Newton said “for every action, there is an equal and opposite reaction”. Even though this applies to physics specifically, it can apply to other factors in life.
If you adjust it too quickly / great amount (say 30%), you may be suspect to an attack where a block may be solved too quickly, then difficulty goes way up up, the group leaves and then the next block may take a long period of time to be solved because there is not enough hashrate to solve it quick enough.
Think of this as a difficulty attack.
Just a thought… I dont think you can adjust difficulty mid block??
This is great! sooo… the million FTC question is…
How soon does this get rolled out into production?? ::)