Posts made by jti8899

Hello fellow feathercoiners

So long story short, life took me on a ride and I am just getting back to pick up some pieces. My last wallet transaction was Jun 2014. I can see all the feathercoin I mined, but when I looked feathercoin up I saw feathercoin classic and feathercoin, was there a hard fork that caused another coin? My ether did this too. What are the highlights of what I missed please? My coin value has doubled that’s nice.
thanks

This is a great thread and completely nessecary discussion.

I worry that the whole thing could be controlled by a handful of big farms and that somehow the big money players forsaw this all along? Even planned it? If it is not decentralized then I am back to real commodities I can hold in my hand.

With that said I think it needs to be kept in mind that ASIC mining is way more energy efficient. If we fight ASIC we kill the efficiency level of mining, large scale or small, it still requires electricity. I was mining using (2) 7950 GPU’s burning 550 watts at the wall to produce 1.2Mhs, switched to a ASIC for Scrypt miner burning 12 watts and producing the same or greater hashing power with way less space, heat, cost, noise, and setup hassles.

The focus needs to be on decentralization for sure, but effeciency needs to be a high priority or people won’t add miners to the network.

My two cents worth

~//~

[quote name=“prensel” post=“58317” timestamp=“1392072933”]
[quote author=RaccoonPete link=topic=7536.msg58311#msg58311 date=1392072760]
Mine another coin temporarily and convert it to FTC. Its been working well for me so far! By doing that it increases FTC’s value and your coins will be more diverse.
[/quote]

Doing the same here, give’s me between 30% and 70% more FTC than mining directly on FTC…

[/quote]

What are good alts to mine in place of FTC?
~//~

[quote name=“ChekaZ” post=“57634” timestamp=“1391722301”]
Its no attack, its a multipool leeching coins…
[/quote]

Can you educate us what this means and how it works? I for one would greatly appreciate it.

peace
~//~

[quote name=“Calem” post=“57497” timestamp=“1391692030”]
Old discussion shifted here.

[quote author=wrapper link=topic=7318.msg57484#msg57484 date=1391688200]
The only way to secure Feathercoin or Bitcoin in the long run is to ditribute hash power, such that one person or pool cannot join together to manipulate the Block chain difficulty.

I have suggested this needs to be by promoting each merchant to have a small (ASIC) miner. They know they are the bank, and will be the main users of the coins.

The trouble with Cloud mining it is open to more than one abuse and is anti distributed network(ie centralising).

That’s apart from the fact they are grooming scammers by tempting them with an easy Con.
[/quote]

[quote author=CloudScrypt link=topic=7318.msg57485#msg57485 date=1391688871]

[quote author=wrapper link=topic=7318.msg57484#msg57484 date=1391688200]
That’s apart from the fact they are grooming scammers by tempting them with an easy Con.
[/quote]

Could you clarify that? Not sure I understand…
[/quote]
[/quote]

Calem,

pretty disappointed in your use of “staff position” on this one. I guess there is no point in sharing an opposing opinion to yours eh? So I will have to just agree! “If you don’t own your own rig, your not committed”

Not really encouraging to share thoughts and opinions freely here now. I can see your more committed then me so I will respectfully bow out of this conversation.

~//~

[quote name=“Calem” post=“57453” timestamp=“1391681375”]
And now his jeans are mass manufactured creating a monopoly where “Levi” is able to undercut the little guy pushing him out of the market all together.
[/quote]

And if FTC became as big as Levi’s, would you feel the same about them?

peace
~//~

[quote name=“Calem” post=“57445” timestamp=“1391678698”]

Look at it like renting pick axes for gold mining. If they really saw a long term potential for gold, they would be more interested in investing in hardware to mine for them self’s.

A business does not exist unless there is a profit to be made by been the middle man.

If you truly believe, you don’t need or want a middle man dipping into your share.
[/quote]

A man named Levi saw people all running like mad to California to mine for gold. He thought before he acted and he decided to provide quality pants to the miners instead of mining with them. We still buy his jeans here decades latter. He added value to the collective.

It sounds like, because you have invested in mining gear, your looking for community validation to the story you told yourself justifying that it was a wise move. Maybe it wasn’t, maybe you’ll lose money and the guy who chose a different path and leased a rig will lose less? I hope not, because I built a couple rigs and mine now too, but I don’t tell myself I am more committed or of more worth then the person who buys a single FTC and sits on it, or the person who looks at the whole thing and says it’s a fools game and refuses to be pulled in and misses the greatest opportunity of his lifetime. . . or not? It’s all a big collective experiment try to zoom out and set aside your personal choice, just look at the bigger picture. They are all valuable, even the people who choose not to get involved but watch from a distance.

peace,
~//~

[quote name=“Calem” post=“57438” timestamp=“1391676867”]
[quote author=jti8899 link=topic=7318.msg57437#msg57437 date=1391676656]
Who is more committed to the crypto in question, the guy who builds a rig and leases it to dump the coins it produces at a profit in fiat, or the guy who rents his rig and holds and uses those coins in place of fiat?
~//~
[/quote]

The guy who rents the other guys rig of course. Dumping coins for fiat is obviously a show of lack of faith.

This doesn’t take into account the guy who builds his own rig and mines with it himself.

The point I’m trying to make, is investing in the hardware yourself shows more loyalty than taking less risk by allowing someone else to be left holding useless hardware.
[/quote]

Okay then who’s more committed, the guy who builds a rig for 1,000USD and mines 25-30FTC a day, or the guy who buys 100USD worth of FTC and continues to add to his positions every week with another 25USD?

I think trying to make the point that one form of investing in any collective experiment is more committed then any other form, is a fools game. They are all important, even the miner who sells his FTC is adding to the mining pool, and is therefore helping the collective experiment. To me they are all equally important and should all be encouraged and appreciated.

peace
~//~

[quote name=“Calem” post=“57428” timestamp=“1391672449”]
If you can afford to buy a car why would you rent it?

The only reason is because you expect that you will no longer need or want said car once your done using it…

If you really believe in a particular coin, renting only shows you lack of faith in it.

Granted, regardless if your renting or owning a rig, one could easily jump ship and change coin to mine, but my point still stands. By buying the hardware, your voting with your fiat that you don’t wish to return back to said government issued currency.

I still can not understand why you would want to rent a rig. It shows lack of trust and faith.

I’ve said it once, I’m now saying it twice.

Buy the printer, don’t rent it.

Your just giving someone who has more trust in the fundamental philosophy of been in control of your own money, more of your own money…
[/quote]

Who is more committed to the crypto in question, the guy who builds a rig and leases it to dump the coins it produces at a profit in fiat, or the guy who rents his rig and holds and uses those coins in place of fiat?

I own a car, but rent one anytime I leave town on vacation so someone else deals with any breakdown issues! Just one reason someone might rent when they can buy.

~//~

[quote name=“mirrax” post=“57196” timestamp=“1391592842”]
[quote author=jti8899 link=topic=7426.msg57185#msg57185 date=1391587364]
[quote author=mirrax link=topic=7426.msg57179#msg57179 date=1391582259]
Community and aplications.
[/quote]

Could/would you elaborate on “applications” please?

thanks
~//~
[/quote]

There is lot of applications created by forum members:
FTC Market (with lot of cool FTC projects inside i.e. FTC Vine, Laser Etched wallets, T-Shirts, Stickers,…)
CryptoKnox - online wallet
FTC Games
FTC paper wallet generator
Local Feathercoin map
Lot of great FTC graphics and tutorials
Button generator
LINK

Those are only few examples, I am sure there is much more.
Also what I din’t saw is other coin with such rich weekly newsletters.

But you are right, if you ask what makes FTC algorithm special, than right answer is absolutely nothing.
It is Litecoin fork with changed parameters and ACP added.
[/quote]

Thanks so much for the input. I would have to say that ACP server needs to be a selling point, after all, though maybe not a perfect solution, and maybe time will create a better one, it does protect feathercoin from 51% attack if I understand it correctly? That is why it was created, feathercoin got attacked, litecoin people wouldn’t help out, and creativity stepped up and wala, we have ACP!

Market place is another good selling feature, but could be overrun easily by someone like ebay just accepting FTC, or BTC for that matter. I still appreciate that feature a ton.

CryptoKnox - online wallet, FTC paper wallet generator are things I need to look closer at could be selling points. Thanks for those suggestions, but I don’t know much about either yet.

Maps, games, graphics, t-shirts and hats and the like would be bullets under Community. Not saying not valid, but none the less bullet points.

So even if the correct answer (at the present) is “It is Litecoin fork with changed parameters and ACP added.” I would rather say:

“Feathercoin is a crypto-currency that utilizes a scrypt based algorithum , similar to litecoin, only with an ACP server added to protect against 51% attacks, built on a foundation of a positive collective effort of like minded individuals, who are constantly striving to improve on every aspect of this innovative new way of exchanging value for value without the need for trusted third parties.”

The whole point of this thread was to get those with detailed knowledge to share, and to inspire all of us to innovate to improve on what has been built. How can we use ideas like ‘open transactions’ to increase adoption of FTC? How can we improve upon the ACP server idea to protect against attacks? How can we improve upon the basic blockchain to integrate new features. . . . and so on.

I am not attacking the idea of a great community, and don’t feel that particular feature needs defending. In fact if it did need defending, it is a doomed deal anyway. Who will stay to support a pack of scammers and bullshitters. FTClover is a great point in case.

It’s just that I read some of the stuff kevlar and others like him write about ideas they are working on and so much just makes me feel as if I am swimming in a ocean of foreign language.

It is this feeling of “I just don’t get it!” that prevents massive adoption. BTC is gaining a lot of ground, because of people starting to say “I don’t get it, BUT I could get really rich so I am in!” This speculation attitude will get some adoption, but it also creates massive volatility. Plus that group of humans are impatient and want the “easy money” which just simply doesn’t exist. They will shortly fall back to “I just don’t get it” and lose interest if their hoped for gains are not realized.

There is a much more important issue being represented here with the rise of the blockchain. Trust doesn’t need to be bought from greedy self centered men and their systems of control any more, it can be embedded into the code. When no one controls that we are all much freer (and retain a great deal more of our personal production).

The advent of crypto currency blockchain has irrevocably changed the world, and my life. The elite have every incentive in the world to attempt to slow and or stop this from becoming widely adopted. The rest of us have the opposite incentive, to propel widespread adoption. To create the understanding of what it is, what it represents, how it works, what it offers and how to easily implement those features into your current reality NOW!

I am the type of person that can sell anything to anyone, with one big IF! If I understand and believe that what I am selling you is in your best interest for you to buy! Needless to say I don’t sell to many things. Help me understand FTC down to the nuts and bolts and I will create compelling promotional material! It’s what I do. Maybe we can start a podcast or integrate into an already existing podcast with applicable audience, let’s talk feathercoin, and explore where we are going, talk about why we decided to use a different blockchain, walk people through the process of learning? hell I don’t know, help me out here. . .

~//~

[quote name=“mirrax” post=“57224” timestamp=“1391601609”]
Oh, I forgott to mention what makes FTC special compared to other cryptocurrencies.
Kevlar :D
[/quote]

That is definitely a sellable feature!
~//~

[quote name=“Joe90” post=“57174” timestamp=“1391577633”]
[quote author=jti8899 link=topic=7318.msg57144#msg57144 date=1391568293]
[quote author=CloudScrypt link=topic=7318.msg56994#msg56994 date=1391515772]
[quote author=Thytos link=topic=7318.msg56993#msg56993 date=1391515400]
[quote author=scruffters link=topic=7318.msg56984#msg56984 date=1391510905]
I expect scrypt cloud hashing services will become more important in the future. It happened (to an extent) with BTC.

As a service, these types of arrangement only further validates crypto as an industry. I think that is quite important, actually.

I can’t see average folks building their own rigs. But rental could do very well in the long term…
[/quote]

I agree with those same 3 points.
[/quote]

+1, I see it as a very viable introduction for some, and alternative for others - of course there will always be the hardcore builders! ;D
[/quote]

I can see various reason someone would want to lease their rigs to others, the obvious being profit short term.

I can also see many reasons why others would want to lease a rig (like a car, or furniture and appliances) the obvious being lower responsibility for the equipment, although at a higher cost. Just because a person could take a bus for cheaper then leasing a car, does not mean leasing a car is not a viable alternative for them. Maybe they want to learn about mining and receive coins with no fiat paper trail to them, without the cost and headaches of buying and building a mining rig. I have built them and it is no task for the average, never built anything kind of person. Maybe a better example would be leasing a washer and dryer vs going to the laundromat?

With all that said, wouldn’t there be a way to let rig owners place their rigs up as an offer, while people who want to lease a rig placing their intent up as an ask, on a decentralized blockchain type transaction “open transactions” style and they could find one another and interact peer to peer with no third “trusted Party” in the middle? isn’t this where we are all going anyway?

This way people who enjoy building and maintaining mining rigs could build decentralized autonomous companies and do what they love. Others could buy the coins produced and do what they love. The networks would gain in diversified mining pools. Only losers I see here are the banks . . . boo hoo!

Just a thought,
~//~

+1 CloudScrypt
[/quote]

I really have to disagree with you on that… You have to pay with bitcoins anyway, so its cheaper and faster to just buy some coin outright…

And if your going to learn about mining, paying for someone else to do it for you is not a good start, maybe using an old computer or something would be more practical for learning…

Maybe it might be more worth while when scrypt Asic’s are more widely available.
[/quote]

This is all from your personal perspective though (and I respect that) but, I spent over 1,000USD to get a mining rig up, not counting time in research, assembly and ongoing configuration and I like building things. Someone else, and I know some of these people, would be willing to pay more per coin, to mine over buy, but see leasing a rig short term as a better way to get their feet wet. They are all over the US for USD through PayPal as well so it isn’t just BTC contracts.

There are many different types of people. I personally would be of the same opinion as you and would just buy them before I leased someone’s miner, but then there is the question of “where do I buy them?” for some people who wanted to buy, and asked that question the easiest answer they found was to lease mining rig time.

Regardless how any of us believe people should do things, there is a hugh open opportunity to fill the nitch created by the people with rigs wanting to lease them out for BTC or USD or EUR and the people without wanting to rent them to gain crypto. I personally can’t believe the rent to own places stay in business. I see their ads and think “who would rent that for that much? hell just buy it”, yet their trucks are all over town delivering stuff.

peace
~//~

[quote name=“mirrax” post=“57179” timestamp=“1391582259”]
Community and aplications.
[/quote]

Could/would you elaborate on “applications” please?

thanks
~//~

[quote name=“Kevlar” post=“57163” timestamp=“1391574185”]
[quote author=jti8899 link=topic=7426.msg57154#msg57154 date=1391570842]
[quote author=Kevlar link=topic=7426.msg57151#msg57151 date=1391570103]
Some great answers here. I’d like to offer my own:

The question is equlivent to saying, “Why is Los Angeles so much better than New York? They’re both pieces of land.”

In truth, the technical details are minimal: It’s got a faster coin generation rate, a faster retarget time, and it’s not decentralized like other coins: All clients connect to a single node run by the original creator of the coin to figure out what the current consensus is instead of following the rules of longest chain wins, kind of like Liberty Reserve, or Paypal, except the entire ledger is made public.

The difference lies in what people do with it, not how it works.
[/quote]kevlar,

thanks for a great answer, I am forever giving you rep. If feathercoin are centralized by a main server could they be shut down by that server being taken out?

What does faster re target rate mean?

Liberty Reserve was shut down and the founder is hanging out in Spain under threat of US indictment. Hope this isn’t what’s in store? PayPal is just another credit Card scam in my book and takes lots of money from me every year.

How does a public ledger protect Feathercoin? Thanks again for the input!

~//~

Ref: [url=http://www.wired.com/threatlevel/2014/01/liberty-reserve-source-code/]http://www.wired.com/threatlevel/2014/01/liberty-reserve-source-code/[/url]
[/quote]

The difficulty retargeting has to do with how often the difficulty is adjusted in order to keep the block generation rate at 2.5 minutes. It’s every 150 something blocks for FTC, but every 2000 something blocks for LTC and BTC. This means that FTC will respond to increases and decreases in the hash rate much quicker, allowing the coin generation rate to remain constant for longer.

Shutting down ACP would just return it to it’s regularly decentralized program, just like BTC and LTC. The Liberty Reserve guy was accused of money laundering, and most of their business revolved around exchanging fiat for LR. This is a little different because Bushstar isn’t actually acting as the broker for the exchange of money, just as the record of account for where the coins are going.

The public ledger provides transparency. Unlike Paypal or LR, you can see ALL the transactions that occur on the Feathercoin network. You can also create transactions on the network without talking to the ACP server, it’s just that eventually someone will mine a block with your transaction in it, and that will be checkpointed by the ACP server, which prevents reorganizations of the blockchain by potentially malicious pool operators/miners with lots of hash power. There’s much discussion surrounding how to eliminate ACP going on right now for that very reason: We want to prevent malicious reorgs while still keeping the coin decentralized. We’re getting very close too. Wrapper has done a great job of moving the project forward, and starting next week I’m going to be involved in it too.
[/quote]

kevlar,

this is exactly the kind of discussion I was intending to create. I know that almost everyone drives cars, many people really don’t care to know how they work, but for those of us who do we take them apart and put them together and learn all about stoichiometric mixtures, and tweak and tune till we hear noises that don’t even exist when we drive. I am one of those people, though not quite as dev savy as yourself, these things are very meaningful to me.

I would totally be willing to put together a bit of writing on the topic of “Feathercoin, what it is and isn’t and how it differs from other alt currencies” based on the content of discussions such as these.

I know you offer a ton of help and assistance to the community as a whole, so not asking you for anything except honest straight forwards answers to inquiries such as the ones in your last quoted post.

Maybe other devs and even Bushstar can chime in and after I get a few drafts together those people could review and correct them or me and together we could create material easily passed out to interested parties?

Mostly I am a hands on learner so this would be a side benefit of that learning process. I do not yet understand this whole realm of crypto things beyond surface level at best, so I am learning as I go. To be honest it was open sharing community that drew me to feathercoin, but it will be value that keeps me here and that is a much broader topic.

thanks again for your input

~//~

Not Mark Cuban, but thanks for killing this threads usefulness. I specifically asked not to give the “great community” answer. This is my last reply to you. enjoy the last word

peace
~//~

[quote name=“estrabd” post=“57155” timestamp=“1391571521”]
[quote author=jti8899 link=topic=7426.msg57140#msg57140 date=1391566270]

Well then I should just tell people it’s just another alt currency, they are all basically the same, and you wouldn’t understand anyway?

[/quote]

There is nothing substantially different between Feathercoin and any other BTC fork. Sorry, but that’s the case. However it’s a lot cheaper and easier to mine, so it’s very attractive in the long term. It’s all very speculative. And I don’t believe that there is going to be a “killer feature” that is not related to increasing confidence in CC that will ultimately be the primary selling point for the masses. And any coin is only as useful as the ecosystem around it - and who builds this ecosystem? Oh wait, I can’t say because that’s not the answer you want to hear.
[/quote]

Really hope your not in sales?

~//~

[quote name=“Kevlar” post=“57151” timestamp=“1391570103”]
Some great answers here. I’d like to offer my own:

The question is equlivent to saying, “Why is Los Angeles so much better than New York? They’re both pieces of land.”

In truth, the technical details are minimal: It’s got a faster coin generation rate, a faster retarget time, and it’s not decentralized like other coins: All clients connect to a single node run by the original creator of the coin to figure out what the current consensus is instead of following the rules of longest chain wins, kind of like Liberty Reserve, or Paypal, except the entire ledger is made public.

The difference lies in what people do with it, not how it works.
[/quote]kevlar,

thanks for a great answer, I am forever giving you rep. If feathercoin are centralized by a main server could they be shut down by that server being taken out?

What does faster re target rate mean?

Liberty Reserve was shut down and the founder is hanging out in Spain under threat of US indictment. Hope this isn’t what’s in store? PayPal is just another credit Card scam in my book and takes lots of money from me every year.

How does a public ledger protect Feathercoin? Thanks again for the input!

~//~

Ref: [url=http://www.wired.com/threatlevel/2014/01/liberty-reserve-source-code/]http://www.wired.com/threatlevel/2014/01/liberty-reserve-source-code/[/url]

[quote name=“uncle_muddy” post=“56998” timestamp=“1391519429”]
LOL, I’ve just been doing the same…

The Mrs came in to the office the other day and said it was time I had a tidy up, maybe a bit of a clear out! as at some point in the not to distant future we are hoping to move a little further down south and rent this place out.

So today I decided that it was time to tidy up, my latest mining rig ;D

It was looking like this

[URL=http://s750.photobucket.com/user/toftrjuk/media/rigs/2014-02-03165004_zpse58477ba.jpg.html][IMG]http://i750.photobucket.com/albums/xx145/toftrjuk/rigs/2014-02-03165004_zpse58477ba.jpg[/img][/URL]

So a trip to the work shop, and a couple of hours later it now looks like this

[URL=http://s750.photobucket.com/user/toftrjuk/media/rigs/photo2_zpsfee6ad5b.jpg.html][IMG]http://i750.photobucket.com/albums/xx145/toftrjuk/rigs/photo2_zpsfee6ad5b.jpg[/img][/URL]

Ohh look at all the extra space in there, I wonder why it got built to that size ;) another pair of toxic’s on their way :o so hopefully by the end of the week it will be running 4 cards ! shhh don’t tell the Mrs a) more cards are coming and b) all I have really done is mess about with “silly coins” again

Play safe kids

UM
[/quote]

uncle_muddy,

you really do make me laugh. i saw you in the video chatting with the barmaid, so I have this picture of you in my mind and I then paint in the Mrs. shaking her head as you begin explaining, to the young pretty plane jumping barmaid, all the intricacies of “silly coins” again and all I can do is laugh till my sides hurt.

I am really going to enjoy meeting you if I ever get to your part of the world. You would also always be a welcome guest in the mud hole we call Missouri should you ever come this way. We could talk silly coins for hours while the girls take care of the important things. . . .hahaha

~//~

I like your new rig frame, but the picture of the original is worth more!

[quote name=“mhamilton79” post=“57141” timestamp=“1391566767”]
[quote author=jti8899 link=topic=7426.msg57121#msg57121 date=1391556157]
Please refrain from answers like “it’s the community that makes us different” cause we all know that.
[/quote]

Why does a coin need anything more then a great community to set it apart from the other coins? its the community that believe in it and its the community that will push, promote and develop products and services around it to drive it into the mainstream.

A coin without a community, even if it does have amazing technology, is worth nothing!

In my experience the feathercoin community is truly one of the most amazing communities i have ever come across on the internet, never mind the crypto currency world.

So what sets it apart? THE COMMUNITY!! We believe in it, and we will continue to develop new technologies and services around feathercoin that over time will set it so far apart from the junk coins, that no one will ever need to ask this question again…

just my 2c
[/quote]

Apparently the best way to get a specific answer is to ask that it [b]NOT[/b] be given as the answer?

So lets say you could choose to live in any country in the world, and the only criteria you use to decide is that it be one where there is a “great community”, so you move and then find they also have a dictatorship, a lack of clean drinking water, rampant HIV virus, and so on!

Sorry but a “great community” just isn’t going to be the best solo criteria for making that decision. Same holds true here. The world is changing really fast, there are some unbelievable ideas being brought into reality level, like open transactions. The best ideas will ultimately draw the most creative minds. We have to become that if we want to get that. If we already are that, then give me your best sale pitch and see if I buy it!

Not saying great community isn’t important, just asking [u][b]what else[/b][/u] do we bring to the table?? I love the fact that feathercoin has a great community.

peace,
~//~