FTC's future
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Have you noticed how none of these responses offers any actual insight into the current situation? It’s all just opinion with no technical analysis, no justification, and statements without evidence.
Hello friends,
We are having live discussion in our team Slack.
The next steps will be:
A, eliminating APC
B, switching officially to Lizhi’s core wallet
C, add 0% POS to more secure the network
D, add SX (anonymous transaction)
You can’t do B unless you do A. And you can’t do A unless you do C. And you can’t do C because you have no one capable who’s willing to step up and do it. So this is, at best, a long way away, and at worst, never going to happen.
This coin will not die.
The tech, or the blockchain?
The blockchain is dead in the water, and nothing you listed with revive it. The problems it faces are economic, so if you’re worried about the economics of the blockchain, then you have very little hope. If you’re interested in discussing the technical of why that is from an economic standpoint, we certainly can. This is not a matter of opinion, you can apply basic economic theory to highlight the problems with hyper-inflation coupled with centralization of wealth and a lack of appeal to a rapidly changing market brought about by a move away from investors.
The tech is being re-purposed as we speak, as it has been tested, battle-hardened, and proven in the field. The coin technology won’t die, but the value in the existing blockchain has been destroyed by a number of factors and no amount of tech can hope to revive it, because the problems are economic, not technical in nature, and none of these guys are economists.
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Finally some criticism
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That’s depressing kevlar.
I always love your nuggets of clarity. -
That’s depressing kevlar.
I always love your nuggets of clarity.I really don’t agree.
I mean I suppose it is if you have some emotional attachment to the economic value of the blockchain. We have a word for when someone is emotionally invested in wealth: Greed.
Personally I’m so much more excited by the understanding gained through the process, the trying and testing and evolution and resulting hardening of the technology, and the hard lessons learned efforts of the community to produce new technology to deal with the ongoing needs of a rapidly changing market. The experiment has been, and continues to be a GRAND success full of learning. It’s through these failure that we learn what does and does not work, and we have learned sooooo much in that regard.
I just can’t wait to see what happens next with the technology, and the community. That has ALWAYS been where ALL the value lies, which is what I’ve always claimed.
If you’re surprised by the economic state of the blockchain, then you’ve not been paying any attention for the past two years as to the direction the coin has been repeatedly taken. This should come as no surprise at this late stage of the game.
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Have you noticed how none of these responses offers any actual insight into the current situation? It’s all just opinion with no technical analysis, no justification, and statements without evidence.
Looking forward to your analysis and outlook into feathercoins future.
Unfortunately I didn’t see anything of it in your responses up to now. Is it work in progress?
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Might I just add that we are now on Slack to streamline productivity. What you see below is a carefully selected snippet to not give to much away. But I can assure you. The team ain’t going anywhere…
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WARNING what is stated below is my personal opinion and does not necessarily reflect the views and beliefs of the Feathercoin team or the Feathercoin community as a whole.
The problem is that world has no idea what we are doing in the background.
It is that simple.
Feathercoin is an R and D coin. Like all coins they make mistakes but we are different in the sense that we learn from our mistakes.
Sorry team for giving out some secrets without consulting you first but the world deserves a chance to have a peek at what is going on…
The screen cap above is but the tip of the iceberg… No one has any idea what is in store for 2015…
So do you wanna have some fun with speculation? Listen to this. (Do Not go and buy ftc based on this btw, if you are not a miner I personally couldn’t care less about you)
With that said. We all needed a deserved break over the New Year / Christmas period so please forgive our stagnation.
I’m not promising, I’m telling, everyone that while I am here, Feathercoin can’t die. Because Feathercoin is more then just a token. It is a group of passionate people searching for a better world… and money isn’t our incentive.
After a long debate over many weeks with the team, I’m proud to report that, we have many new projects in the works… Including something that If we can successfully pull of, is bigger then any tech developed in cryptos, ever. This isn’t a tech I’m talking about, but the most organic voting method ever conceived. We are still divided on the subject, but one day, all cryptos will be faced with a cross road…
So just to reiterate. We have been hard at work in the background this entire time and the grand social experiment of the 21st Century has not even BEGUN.
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Looking forward to your analysis and outlook into feathercoins future.
Unfortunately I didn’t see anything of it in your responses up to now. Is it work in progress?
Nope. I’m not here to do your job for you. I’m just trying to provide you with the facts, which are free from opinion, based on scientific method and economic theory. Any analysis of these facts is strictly left as an exercise to the reader.
As I said in my initial post:
If you’re interested in discussing the technical of why that is from an economic standpoint, we certainly can. This is not a matter of opinion, you can apply basic economic theory to highlight the problems with hyper-inflation coupled with centralization of wealth and a lack of appeal to a rapidly changing market brought about by a move away from investors.
I’ve no interest in teaching everyone here economic theory; ya’ll can go to college for that. Those three factors I’ve listed are quantifiable facts which do not require opinion or emotion to be demonstrated beyond all reasonable doubt: The coin experienced hyper-inflation (too much supply, not enough demand), centralization of wealth (Kraken/BTC-e), and suffers from a serious lack of appeal to a rapidly changing market brought about by a move away from investors and towards centralization (NeoScrypt and ACP, but mostly NeoScrypt). The outcome of that is the price reaches new lows constantly, and the volume has drained out of the exchanges entirely.
These are just facts. They’re not my opinion, and they’re not an analysis of the future of the coin, but the inescapable conclusion is that unless these factors which are impacting the price are mitigatedrumo, the direction of the price cannot change.
It’s also an inescapable conclusion that no tech, current, suggested, or theorized to date, will address these economic pressures, since nothing current, suggested, or theorized to date has been designed to address these economic issues, only technology issues like the 51% attack vector. Often times these decisions are justified using entirely fallacious logic that might lead the gullible into the conclusion that these would in fact have a positive economic impact when really it’s simply about centralization of power and boosting ego.******[Edit: Text parital removed as it violated Forum Rule:Section1 rule 3] **Things like “ASICs are centralized, but CPU/GPU mining isn’t.” when exactly the opposite is true: Legit ASICs farms are in massive competition with each other, but CPU/GPU mining is entirely dominated by illegal Botnets; People can compete with ASICs on a free market, but Botnets are are available on the black market at a scale, and more to the point, at a price point that no hobbyist miner can hope to compete with, and are extremely illegal. Yet people bought this lie hook, line, and sinker. And by people, I mean the few left hanging around here, not the market at large. The market at large saw right through this lie and ignored it.
If someone wants to bring up a specific point I’ve mentioned for further in-depth analysis, please do. I’ve given you three keywords to work from: hyper-inflation, centralization of wealth, and lack of appeal to a rapidly changing market brought about by a move away from investors.
Which one don’t you understand or would like more information on?
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Because Feathercoin is more then just a token. It is a group of passionate people searching for a better world… and money isn’t our incentive.
Feathercoin… wasn’t ever a ‘token’. A token is a placeholder for value, or something that you can exchange for value. Feathercoin has direct value without being a placeholder for anything. It was always a tech, a blockchain, and a community. The blockchain has all but died due to terrible mismanagement. The community is about the same as it ever was. The tech is slowly playing catch up with the state of the art, but it’s certainly not making any forrays into the future without some serious development effort.
and money isn’t our incentive
What if it was?
Seriously, what if we were trying to make money doing this? I can assure you you’d attract a much higher caliber of coder, and a lot more attention to the project. All the good developers are searching for projects that pay, why aren’t we trying to find ways to attract them? Other organizations are making money doing this, why are we so afraid of profit?
So, refresh my memory, why is that a good thing again? Seems to me things would be a lot more sunny if we were making money.
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I agree with Kevlar. We are money.
So this quote, well, lets pretend it never happend…
money isn’t our incentive
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I’m greedy cos I thought you saying the FTC blockchain was dead was sad.
I have no words.
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So if it’s as dead as its gonna get, lets have a crack at the PoS model then?
0%, 50%. Ultimately makes no difference if people think the monetary properties are butchered.
Personaly im still a fan of trying out 0% PoS. Maybe even ditch PoW altogether for it and see if people keep wallets open with no reward?
Or maybe we try out 50% PoS.
Thoughts people? I have no emotional attachment to money so you guys gotta call the shots here.
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I’m greedy cos I thought you saying the FTC blockchain was dead was sad.
I have no words.
Do you enjoy taking people’s words out of context? It’s like arguing with a religious fanatic: They’ll do anything to misrepresent your point because they don’t have a solid ground on which to debate so their only defense is to weaken your position. They never stop to examine the facts, they’re too busy lobbing emotional artillery in hopes that they’ll loosen your grip on reason so they can gain any ground. It’s a terribly dishonest way to debate with someone!
I said people who have an emotional attachment to wealth are greedy. Not you’re greedy because someone pointed out that the blockchain had no where to go, and that made you sad. Where the fuck do you get this shit from Kris? Can’t we talk about the facts instead of you being butt-hurt for a change?
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So if it’s as dead as its gonna get, lets have a crack at the PoS model then?
0%, 50%. Ultimately makes no difference if people think the monetary properties are butchered.
Personaly im still a fan of trying out 0% PoS. Maybe even ditch PoW altogether for it and see if people keep wallets open with no reward?
Or maybe we try out 50% PoS.
Thoughts people? I have no emotional attachment to money so you guys gotta call the shots here.
You know, Calem has an incredibly salient point.
If the goal is decentralization of the network, wouldn’t ditching PoW alltogether and replacing it with PoS be the way to achieve that?
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Can’t we talk about the facts …
ok doke. Languege here people.
Umm i think context has gone out the window here.
I don’t even know what kris was implying but im really confused now.
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I’m greedy cos I thought you saying the FTC blockchain was dead was sad.
I have no words.
What did you mean by this exactly?
I’m confused… Context etc. Im not a fan of forums for debate.
The forum should be a place for providing help support and information. Not debate. It sucks for debate and is why it takes forever to do anything.
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But yeah. Let’s debate Proof Of Stake and its many variants. Let’s search for an idea to help improve the concept without trying to build the coin up with a house of straws…
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But yeah. Let’s debate Proof Of Stake and its many variants. Let’s search for an idea to help improve the concept without trying to build the coin up with a house of straws…
We could, but it’s still just a technology for securing the blockchain, not an economic solution.
Now if you want to talk about PoS in the context of how it can help address the economic problem? I’m totally on board! I’ve got an idea, but no one will appreciate it, so I’ll share it with you on Skype…
And you loved it. Because it uses PoS or a similar technology to address 2/3 of the economic problems listed.
[6:20:58 PM] Calem: wha!
[6:21:03 PM] Calem: oooooooooooo
[6:21:11 PM] Calem: that would be soooooo controversial…
[6:21:13 PM] Calem: I love it
[6:21:14 PM] Calem: XD
Oh yeah. We’re on to something now.
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Hi,
This is my personal and subjective opinion on FTC’s future:
Feathercoin price going down, and pools closing because of economic collapse on mining… Price of electricity, cost of infrastructures, war is coming… Who knows?. You cannot relay on fiat exchange rating price, as it does not reflect the truth about technology. Price and value do not always walk together, specially in its origins, and also during intense changes. Too much general misunderstandings, disinformation and perhaps attacks on reputation, real or not. In my opinion money is, at the end of the day, a trust issue.
We the people are shifting values -as we have always been through history- and quite not really understand what is going on. But there is something for sure: You will find faith in the last explanation. I can make my biggest effort to understand the technology -we all do-, but I must at some time relay on an individual or community that knows more that I do. And therefore trust, believe.
And yes, we stand over every layer that we have built before, but the last and most effective faith that shapes our world is technology. We may see price fall and rise, but the value of Feathercoin (and cryptographies in general) is much higher than people think it is. Only time, knowledge and specific actions (experience) will tell where we go. Thanks for making it possible.
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This is my final idea before I go launch my own coin.
[100% PoS | TX Fee only with 0% Block reward]
Yes.
I am suggesting we stop all production of coins (Feathercoins).
We give the world ample warning and make the shift to a truly Scarce coin.
It could be made more fair using a dual fork where people must vote by picking which BC to transfer their coins too.
One fork is tradition FTC with the Core and no ACP and use a re orgs change to secure the network instead. The other chain will be identical with the exception of [100% PoS | TX Fee only with 0% Block reward]
Once you pick your BC there’s no backsies unless you buy/sell on an exchange.
If you are undecided, you can sit back and wait for the dust to settle then pick your new software/BC.
Organic voting.
