FTC's future
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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.
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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.
There is no way to force people to choose between chains, they can choose both.
Do you mean to stop production of coins in Feathercoin? We should never change the inflation model of Feathercoin as doing so is unfair to those that have and have not bought in. Making a new chain off of the Feathercoin chain is fine but certain things should be left untouched in Feathercoin like the inflation model.
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They can choose chain A for half there coins and chain b for the other half or they can choose not to choose and wait it out to see what happens.
Dual chains existing side by side… Parallel timelines.
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[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.
Please excuse me for not being able to technically really understand, so I would like to ask if I understood it right:
I just text think if you mean something like a coin that is been “coined” up to a total, kind of what would be if all Bitcoins already mined some when, so actually no more production of new coins, and all effort going in decentralization and securing the network, going to securing transactions in that coin closed ecosystem?
I wonder how would price and value do in such currency…
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I support the idea of stopping coin production, that way we may get rid of the miners finally…they only dump anyway.
But seriusly, I vote for this.
Current model is not good.
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So, basically create a new coin with the existing Feathercoin blockchain and set it to be PoS only. This is doable.
What is the PoS rate going to be, something like 1%?
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I’m sugesting something like a normal fork. But instead of having one option, everyone gets 3 options.
One chain becomes 100% PoS with 0 block reward and the tx is the only incentive. (I don’t even know if this is possible)
The other chain can be any idea that can be whatever yous guys think is best.
The third option is to sit on the old chain and wait and decide which direction they want to go.
I will take my 300k ftc onto the BC that will never create any more coins ever again. (But coins from the old chain can be moved here)
The idea is this. It is the most organic form of voting conceived in history.
And yes, this requires 2 times the amount of work but the point is to revolutionise the way forks are pulled off.
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never give people choice, thats not really what they want = to much effort, using brain…not good
1 fork, no choices
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Well, maybe we just move to PoS with Core then.
Bush, Liz, Ghost… Take the lead.
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I’ll just have to blow the worlds mind with xBT.
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Making a new chain off of the Feathercoin chain is fine but certain things should be left untouched in Feathercoin like the inflation model.
It’s exactly this thinking that got us into this situation and it goes against everything we’re working to do.
[Edit: Text partially removed as it violated forum rule: Section 1, Rule 3]
@Bushstar: **[Edit: Text partially removed as it violated forum rule: Section 1, Rule 3] **Everything is officially up for debate, and nothing will be considered sacred, untouchable, unchangeable, or undo-able and there’s nothing you can say or do to stop us. Get used to the idea that the inflation model can and will be touched, along with everything else that anyone sees fit to experiment with, and that it will STILL be “Feathercoin”.
If you want to contribute to this conversation in a meaningful way, try addressing the problem for a change with actual solutions, not just the refusal to consider REALLY good ones. That’s just counter productive.
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So far I see 3 people supporting this solution: Calem, Kevlar, Mirrax
Anyone else?
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Sigh I stuck by this coin since August 2013 I moved here from Litecoin and stuck by it regardless great…
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I would still stick by feathercoin and would love to see it go somewhere I mined this coin for a long while.
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It is time to put our heads out of the sand. Kevlars proposal is like a breath of fresh air.
Think about it and try to understand it, it is not bad or good, its just great.
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First of all, very interesting reading, each party clearly indicates the points and all of us here are interested in the future of Feathercoin, which plans the Staff for this ship run its course and passes this face that affects the whole market altcoin.
Personally FTC been a altcoin and always followed and which have some in my wallet and I have not the slightest interest in selling, I am with you until the end. FTC is not dead currency.
FTC is one of the TOP of this large pool of Altcoin, which incidentally, are more than 500.
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I don’t know what is “right” or “wrong” for ftc, but I stand by my statement that we need a fair method for the holders to choose where they want to go with ftc.
I’ll support the community and coin whichever way it chooses to go but as staff, was must loose all fear and should avoid poking sticks at each other as this is what drives division.
That’s all I have left say on the topic.
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@Kevlar… Please. You know that wasn’t very fair, as much as it needed to be heard. Things can always be said differently but get the same point across.
Do you mean to stop production of coins in Feathercoin? We should never change the inflation model of Feathercoin as doing so is unfair to those that have and have not bought in. Making a new chain off of the Feathercoin chain is fine but certain things should be left untouched in Feathercoin like the inflation model.
Might I try reword what Kevlar said?
- I don’t think anyone in the crypto space is qualified to be honest. It’s a multidisciplinary field which has only just come to life. This is why it takes more then 1 person to lead a a coin.
- If we changed the algo and the intention was never made publicly aware at launch, I don’t see how changing the release schedule or inflation model is any different.
- By reducing total amount of coins or stopping production all together, it will do nothing less than increase the “value” of the remaining tokens (not necessarily price in the short term). This works in favor of the long time holders and will incentive people to mine while they can.
- Enough time has passed now to prove that current inflation models were not perfect, in fact, detrimental to public adoption.
- There are no**permanent changes** because change itself is permanent. It behooves the industrialist to research and the investor to be vigilant. - Ralph L. Woods
Unfortunately, educating people about phenomena that are counter-intuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas.
So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high. - http://fee.org/authors/detail/ralph-l-woods
_Decentralization, n. _The security assumption that a nineteen year old in Hangzhou and someone who is maybe in the UK, and maybe not, have not yet decided to collude with each other. https://blog.ethereum.org/2014/06/19/mining/
