FTC's future
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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/
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- STOP WHAT YOU ARE DOING RIGHT NOW AND READ THIS -
https://blog.ethereum.org/2014/06/19/mining/
I’m not even halfway through it but this is an absolute must read regardless of where it is going with its theory.
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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.
No, never touch the inflation model or you are in breech of an unspoken contract. Can you not see how unfair that is on those who did and did not buy in? Many other coins changed their inflation model to make the coin more scarce and they did that out of greed. I though you would understand the importance of this.
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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.
I have put more time and money into this project than anyone else, what you said above is very unfair to me. I’m a nice guy honestly and try not to upset people which is why I think that I clash with you.
Putting a change of inflation model to the community is an easy win if the coin is going to become more scarce. I have seen many communities vote for this and their motives are in the wrong place. The hope is that the value will go up but what you lose is trust. You can never trust developers who change the inflation model with your money. Who knows what they will do in future. Bitcoin could not double the mint rate, this would make coins worth less, it is equally unfair to go the other way.
Changing the inflation model will lose trust and make us a joke. If people want to do this then I am out.
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I’m still trying to get through that crazy document and it very well might have a better solution BUT… untill I understand it what I have below is my current opinion.
Ok, so we have a small handful of dedicated early miners, holders, etc but, we lost the greater portion of our investors with the btc-e delisting. Our 24 Volume has never recovered. I thought the delisting was gonna be good and we would stop been held down. The assumption was, ftc was been manipulated…
But that wasn’t the case it seems…
Btc-e was keeping us afloat, i hate to say it but its true. We tanked after btc-e dropped us.
The investors, which were the btc-e traders, which were the majority of our holders, dumped and bailed.
Now the coins are centralised into the hands of the true believers.
So I still stand by the statement that its only fair to halt coin production.
Its in the hands of the few but they are the true investors now.
This benfits only them if we stop or lessen or cut it shorter in regards to the coins inflation.
Some questions I have though is this.
When does ftc stop been produced? How many decades from now? 10 or is it 2, what is it? I don’t honestly remember.
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I have put more time and money into this project than anyone else, what you said above is very unfair to me. I’m a nice guy honestly and try not to upset people which is why I think that I clash with you.
Putting a change of inflation model to the community is an easy win if the coin is going to become more scarce. I have seen many communities vote for this and their motives are in the wrong place. The hope is that the value will go up but what you lose is trust. You can never trust developers who change the inflation model with your money. Who knows what they will do in future. Bitcoin could not double the mint rate, this would make coins worth less, it is equally unfair to go the other way.
Changing the inflation model will lose trust and make us a joke. If people want to do this then I am out.
Well, if you do leave us. If the coin doesn’t get destroyed and it rockets in value in the future. You know you have a lot of people who will throw large amounts of ftc at you in the hopes you will come back.
If price is a measure of trust. Then we will bring you back with the knowladge that ftc finally kicked the butt out of litecoin.
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I must admit my first thought is that a move like this would damage how we are percieved, I’m still not convinced it wouldn’t. I would however be concerned that we are suffering from some sort of spotlight syndrome. We are no longer in the spotlight, this is our (the communities) technology and we should be here to experiment and serve the community. We can do things other coins can’t. If the best case for our survival and therefore the community’s survival is something as bat shit crazy as this, then perhaps admitting we got things wrong and take steps to fix them is the most honest thing to do.
finally kicked the shit out of litecoin.
This isn’t feathercoin’s way. No shit needs to be kicked even metaphorically for us to win.
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‘Light’ reading on PoS for anyone interested.
https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/
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Feathercoin
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Inflation model is badly set up, there is enough coins in circulation already.
There will be enough time to anybody stack up as many FTC as they want, like half year maybe, before we cut it.
Kevlar is right, you can leave your head in the sand and die or do something.
I see plenty of people to support this idea. Mining suck, no matter with what hardware.
It was fun in 2013 but those days are over.
I sold my GPUs.
Mining is waste.
Unnecessary waste.
With proposed POS solution all we nees is few rPI nodes to maintain healthly and eco-friendly network.
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Inflation model is badly set up, there is enough coins in circulation already.
There will be enough time to anybody stack up as many FTC as they want, like half year maybe, before we cut it.
Kevlar is right, you can leave your head in the sand and die or do something.I see plenty of people to support this idea. Mining suck, no matter with what hardware.
It was fun in 2013 but those days are over.
I sold my GPUs.
Mining is waste.
Unnecessary waste.With proposed POS solution all we nees is few rPI nodes to maintain healthly and eco-friendly network.
You will not find anyone to buy into a coin that has tried to force scarcity, many have tried this and ultimately it has marked the end. Communities do jump on to ideas like reducing the block reward as they perceive financial reward when in reality the long term market position gets worse as no one will buy into this. Why would you buy into a coin that desperately is trying to increase its value for existing holders and force future buyers to pay more.
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You will not find anyone to buy into a coin that has tried to force scarcity, many have tried this and ultimately it has marked the end. Communities do jump on to ideas like reducing the block reward as they perceive financial reward when in reality the long term market position gets worse as no one will buy into this. Why would you buy into a coin that desperately is trying to increase its value for existing holders and force future buyers to pay more.
Your assumptions are wrong, there is nothing more desperate than sticking with failed model.
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Your assumptions are wrong, there is nothing more desperate than sticking with failed model.
What is wrong with the model all of a sudden?
The only reason people support this move is to see scarcity introduced to push the price up. This is greed and is a bad motivation for people.
0% PoS gives no incentive to mint stake blocks. Exchanges and services will remove PoS from their systems and the only people generating those blocks will be those unlocking their wallets to send some coins. The result will be that they lose access to some of their coins while the block is being confirmed. Ghostlander tried 0% PoS with Orb and got bad results.
Stopping coin production on Feathercoin will ultimately see a decline in market value as people dump on such a desperate move. Any gain will be short term, this has happened to other coins. Such a move is not unprecedented so you can do some research and find the results of such efforts before. We need to find some smarter solutions still.
