Difficulty Discussion - Fork Update - Bushstar
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@zerodrama: I get the different view, but it seems to me that there are two colliding world views. Those that think 20 days is an eternity that makes feathercoin die a horrible death, and the rest.
Difficulty is an equalizer. I don’t know your background, so please don’t take offense if I make this a bit simpler. Currency markets work on the same basic principle of supply and demand like everything else, just a bit more abstracted. With cryptos it gets even more abstract (and technical where even people who know about the subject get knots in their brains). The difficulty slows down (or speeds up) the generation of currency, which both means the value can rise and fall with it, like a normal currency would. If you look at some of the many sites that track the coins and their values, you will see patterns that are close mirrors to what other currencies went through.
My overall approach (and again, just my humble opinion) is to sit it out. This in my view will be much better for the coin and its stability than anything else.
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Very well explained, learning everyday ^^ thank you
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The problem with ‘sitting it out’ is the lower the hashrate drops, the longer we have to wait.
Right now, the time to wait is increasing FASTER than the time it will take… which means at this rate we’ll never reach it.
So do we have a plan of attack yet, or is this sill in the planning phase? It seems to me a simple time to retarget plus a limit on the change is the easiest road there, is it not?
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[quote name=“ChristianRiesen” post=“2877” timestamp=“1368395047”]
@zerodrama: I get the different view, but it seems to me that there are two colliding world views. Those that think 20 days is an eternity that makes feathercoin die a horrible death, and the rest.Difficulty is an equalizer. I don’t know your background, so please don’t take offense if I make this a bit simpler. Currency markets work on the same basic principle of supply and demand like everything else, just a bit more abstracted. With cryptos it gets even more abstract (and technical where even people who know about the subject get knots in their brains). The difficulty slows down (or speeds up) the generation of currency, which both means the value can rise and fall with it, like a normal currency would. If you look at some of the many sites that track the coins and their values, you will see patterns that are close mirrors to what other currencies went through.
My overall approach (and again, just my humble opinion) is to sit it out. This in my view will be much better for the coin and its stability than anything else.
[/quote]The problem is it’s not 20 days. People need to be coming in. They are not. What you have is the false notion of organic economics. I don’t like centralized systems, but there is nothing holy or natural about supply and demand. The demand for fiat via cryptocoins is increasing. Other coins are serving it better. The demand for cryptocoins themselves is crawling.
There is also the consumer confidence factor. Lack of progress loses friends.
20 days is becoming 30, 40. What you are calling for is a starvation diet. Instead of dealing with storm you’re saying to stick it out.
And as I keep saying, this is not NEW PEOPLE. It’s disgruntled bitcoin miners. People don’t want crypto coins. They want FIAT. For whatever bastardized logic, they want the monopoly money. This is causing flash mining and flash exits.
The situation is not caused by supply and demand. It’s caused by proxy trading. The people who mined Feathercoins did not demand FTC, they wanted BTC to USD.
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So are we going to fork? if so when? I think if it’s the way that things are going to go we should take action asap.
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[quote name=“DigitalDoom” post=“2943” timestamp=“1368428110”]
I’ve now pointed all of my hashing power (+/- 2.0Mh/s total…nothing to brag about, but all I have right now) at Feathercoin.Waiting (*im)patiently for hard-fork to be announced.
A couple questions that I’m sure are on everyone’s minds right now (well, on my mind at least ;)):
How much notice will be given before the new client is available for install?
Not trying to rush, but could we maybe get a window/time-frame…like, are we looking at hours/days/weeks from now?
I saw something posted last night about “within the next 48 hours”, but was busy and didn’t get to see if that was in reference to the client release or something else.
Getting excited and hoping to be available the minute it’s ready to go! :)
[/quote]Yeah it would nice to get a timeline because I’m also keen for the fork to happen now.
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The Freicoin fork announcement thread was temporarily stickied to the top of the alt board by the admins on bitcointalk to get more attention.
see https://bitcointalk.org/index.php?board=67.0
maybe Bushstar could contact them when the release is available and do the same for the FTC fork info. -
[quote name=“DigitalDoom” post=“2950” timestamp=“1368428966”]
[quote author=Pathosverdes3 link=topic=363.msg2947#msg2947 date=1368428553]
The Freicoin fork announcement thread was temporarily stickied to the top of the alt board by the admins on bitcointalk to get more attention.
see https://bitcointalk.org/index.php?board=67.0
maybe Bushstar could contact them when the release is available and do the same for the FTC fork info.
[/quote]I only hope this forum is the first place it’s announced. This is where I was told to follow Feathercoin so this is the only place I’ve been spending my time the past couple of days…and the only place I plan to be spending my time from now on!
I’ve turned all my miners to Feathercoin net now and I’ve traded every last bit of crypto I have on BTC-e (and more in transit now) for FTC. I may just pop a blood vessel in my eyeball if the fork is announced somewhere else first. :o
[/quote]Agreed haha
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[quote name=“Pathosverdes3” post=“2947” timestamp=“1368428553”]
The Freicoin fork announcement thread was temporarily stickied to the top of the alt board by the admins on bitcointalk to get more attention.
see https://bitcointalk.org/index.php?board=67.0
maybe Bushstar could contact them when the release is available and do the same for the FTC fork info.
[/quote]I have contacted Salty the moderator of the alternative cryptocurrency forum and asked for a sticky. When I post the info over there I will request the sticky again.
[quote author=DeadZebra link=topic=363.msg2945#msg2945 date=1368428222]
Yeah it would nice to get a timeline because I’m also keen for the fork to happen now.
[/quote]The code should be ready Wednesday morning if all goes well. Then for safeties sake we should aim for a weeks worth of blocks before we make the change. I do not think the exchanges would be too happy with short notice forks. Then we mine the blocks to get to the new difficulty and get those transactions moving again. Happy days :)
[quote author=DigitalDoom link=topic=363.msg2950#msg2950 date=1368428966]
I only hope this forum is the first place it’s announced. This is where I was told to follow Feathercoin so this is the only place I’ve been spending my time the past couple of days…and the only place I plan to be spending my time from now on!
[/quote]This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
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[quote]BTC-e chat box[/quote]Wow, I’ve always heard it referred to as the troll box.
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[quote name=“UKMark” post=“2861” timestamp=“1368392978”]
[quote author=Tuck Fheman link=topic=363.msg2857#msg2857 date=1368392760]
[quote author=zerodrama link=topic=363.msg2852#msg2852 date=1368392168]
@Tuck I highly doubt that’s possible.
[/quote]Which makes me even more curious. Why does it need to be fixed?
[/quote]Highly intelligent crypto geeks, thinking up the impossible possible, so it has to be fixed :)
[/quote]It’s called Timejacking …
[url=http://culubas.blogspot.com/2011/05/timejacking-bitcoin_802.html]http://culubas.blogspot.com/2011/05/timejacking-bitcoin_802.html[/url]
[url=https://en.bitcoin.it/wiki/Weaknesses]https://en.bitcoin.it/wiki/Weaknesses[/url] -
[quote]
This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
[/quote]It really is looking like the BTC-e chat bot. I really think we should try get some of the more important threads active here with valuable information so that there is no need to refer to BitcoinTalk. I’m going to be contributing to the mining thread and one or two others.
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Wait, did I understand the argument right that, this fork has to happen now in case the crypto currencies crash as a whole next week? IMHO that is not an argument, rather endtime panic for FC and crypto coins at large.
Changes like this are disruptive and rather lower confidence than up it. If its done now, what stops it from happening again soon? The one thing you can be 100% sure about any infra structure is that the worst thing you can do is force everyone that builds on yours, is to change it so it will not work any longer. Granted, FeatherCoin is not like Paypal where thousands of merchants are using an API, but put yourself in their shoes. On which coin would you bet, if you had a site like Amazon, Paypal or just selling cables online, the one where you can set it up and it runs stable or the one where you have to make changes to and hope everyone else updates as well?
To reiterate, these are my views and opinions. I value yours as well and am thankful we can have this mature conversation, something that is rather rare on the internet.
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[quote name=“Bushstar” post=“2953” timestamp=“1368429786”]
This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
[/quote]Indeed. Crapcoins appear every day and people jump at them without any understanding of what and who are behind those. YAC is one of them. People have got so excited to mine it on their CPUs, so they pay little attention to the rest of story. Bter listed it quickly with a 0.5% trading fee to make money fast while most other currencies including FTC are traded for free. Looks fishy to say at least.
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[quote name=“ghostlander” post=“2981” timestamp=“1368437426”]
[quote author=Bushstar link=topic=363.msg2953#msg2953 date=1368429786]
This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
[/quote]Indeed. Crapcoins appear every day and people jump at them without any understanding of what and who are behind those. YAC is one of them. People have got so excited to mine it on their CPUs, so they pay little attention to the rest of story. Bter listed it quickly with a 0.5% trading fee to make money fast while most other currencies including FTC are traded for free. Looks fishy to say at least.
[/quote]Agreed! The fact they use Feathercoin.org [i]as a redirect[/i] to their coin tells me something too! ::)
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[quote name=“UKMark” post=“2983” timestamp=“1368437959”]
[quote author=ghostlander link=topic=363.msg2981#msg2981 date=1368437426]
[quote author=Bushstar link=topic=363.msg2953#msg2953 date=1368429786]
This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
[/quote]Indeed. Crapcoins appear every day and people jump at them without any understanding of what and who are behind those. YAC is one of them. People have got so excited to mine it on their CPUs, so they pay little attention to the rest of story. Bter listed it quickly with a 0.5% trading fee to make money fast while most other currencies including FTC are traded for free. Looks fishy to say at least.
[/quote]Agreed! The fact they use Feathercoin.org [i]as a redirect[/i] to their coin tells me something too! ::)
[/quote]I would never support a coin that buys up domains to bash other coins. Childish. Who would follow someone like that haha.
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[quote name=“DeadZebra” post=“2984” timestamp=“1368438433”]
[quote author=UKMark link=topic=363.msg2983#msg2983 date=1368437959]
[quote author=ghostlander link=topic=363.msg2981#msg2981 date=1368437426]
[quote author=Bushstar link=topic=363.msg2953#msg2953 date=1368429786]
This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
[/quote]Indeed. Crapcoins appear every day and people jump at them without any understanding of what and who are behind those. YAC is one of them. People have got so excited to mine it on their CPUs, so they pay little attention to the rest of story. Bter listed it quickly with a 0.5% trading fee to make money fast while most other currencies including FTC are traded for free. Looks fishy to say at least.
[/quote]Agreed! The fact they use Feathercoin.org [i]as a redirect[/i] to their coin tells me something too! ::)
[/quote]I would never support a coin that buys up domains to bash other coins. Childish. Who would follow someone like that haha.
[/quote]Indeed, you can’t take that serious. Altho we dont know for sure if the owner of YAC is also the owner of the domainname.
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cycloid who purchased those domains seems to work as a YAC shill full time. Seen both at Bitcointalk and BTC-e troll box. Nothing really interesting. The developer or whoever acts under his nickname is what amuses me most. Registered on the 27th of April, made 6 posts on the 5th of May to get out of the newbie jail and announced YAC straight after that, answered a few questions and disappeared. His code quality is crap, and I’m not the only one who thinks so.
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[quote name=“sheepson” post=“2987” timestamp=“1368439692”]
[quote author=DeadZebra link=topic=363.msg2984#msg2984 date=1368438433]
[quote author=UKMark link=topic=363.msg2983#msg2983 date=1368437959]
[quote author=ghostlander link=topic=363.msg2981#msg2981 date=1368437426]
[quote author=Bushstar link=topic=363.msg2953#msg2953 date=1368429786]
This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
[/quote]Indeed. Crapcoins appear every day and people jump at them without any understanding of what and who are behind those. YAC is one of them. People have got so excited to mine it on their CPUs, so they pay little attention to the rest of story. Bter listed it quickly with a 0.5% trading fee to make money fast while most other currencies including FTC are traded for free. Looks fishy to say at least.
[/quote]Agreed! The fact they use Feathercoin.org [i]as a redirect[/i] to their coin tells me something too! ::)
[/quote]I would never support a coin that buys up domains to bash other coins. Childish. Who would follow someone like that haha.
[/quote]Indeed, you can’t take that serious. Altho we dont know for sure if the owner of YAC is also the owner of the domainname.
[/quote]Very true
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[quote name=“DeadZebra” post=“2984” timestamp=“1368438433”]
[quote author=UKMark link=topic=363.msg2983#msg2983 date=1368437959]
[quote author=ghostlander link=topic=363.msg2981#msg2981 date=1368437426]
[quote author=Bushstar link=topic=363.msg2953#msg2953 date=1368429786]
This is the first place it will be announced. I’m spending more and more time reading here. The alternative crypto currency forum over at BitcoinTalk has started to look like the BTC-e chat box.
[/quote]Indeed. Crapcoins appear every day and people jump at them without any understanding of what and who are behind those. YAC is one of them. People have got so excited to mine it on their CPUs, so they pay little attention to the rest of story. Bter listed it quickly with a 0.5% trading fee to make money fast while most other currencies including FTC are traded for free. Looks fishy to say at least.
[/quote]Agreed! The fact they use Feathercoin.org [i]as a redirect[/i] to their coin tells me something too! ::)
[/quote]I would never support a coin that buys up domains to bash other coins. Childish. Who would follow someone like that haha.
[/quote]Not only that but on his redirected forums (basically a direct copy if you ask me) he laments the fact he’s a broke new father and the adverts on his forums are to help support the pool and servers he’s paying for.
It is the exact opposite of the community spirit here, where Bush and Just have gone over and above giving their time and effort for this. That, along with the support of everyone helping, is why I’ve had my miners going all day (set to restart should the pc reboot) and night. I’ve had a few hiccups with reinstalls of windows which means I was off for a few hours over the weekend, but there’s every reason for me to stick here and see this win.
I’d have far less faith in someone who steals domains, forums, image icons directly from competition, and then says “I’m poor, don’t mind the adverts.” as he sets up a crypto currency.
Oh and then puts a “Copyright” notice on the bottom of it all… lmao.
