FTC's future
-
I’m just saying the standard approach is broken.
-
+1 T4rQu1N
-
There is still the issue of blockchain security. Even without bells and whistles. Most of the proposals for ‘features’ are to fix that problem. Features and adoption are useless if our blockchain isn’t secure.
-
T4rQu1N good to see someone gets it !
to others whats the sudden pressing need on blockchain security? whats the issue with it atm?
-
T4rQu1N good to see someone gets it !
to others whats the sudden pressing need on blockchain security? whats the issue with it atm?
I’ll summarize ten pages worth:
Security:
Mining is centralized to few a people, who only mine these coins to sell them immediately.
Most people cannot bring the amount of wattage that it takes to produce a trickle of coins.
That means the users of the coins are at the mercy of people who don’t care about them.
Mining is spread across coins but if they ever worked together, they could wreck any coin.
Price:
Because people only buy and sell coin, prices drop fast and mining hardware is worthless.
This means no one can count on coins so they could do business or store value very long.
This means innovators have few incentives to use a coin, so the community disintegrates.
Then those communities with stable prices resist new ideas and only want to buy and sell.
-
you’re talking in general though, nothing specific to any immediate threat to ftc?
and miners in ftc arent mining to dump atm as very little is offered on the markets atm.
-
I’m talking in general, because it’s a general threat.
-
so then back to I don’t get the sudden urgency.
also wasn’t the change of algo for the purpose of spreading the hash (ie via avoiding asics)?
-
The Bitcoin model was intended for small groups. Not a world currency. It’s fundamentally broken, beyond the ASICs.
It’s necessary to fix that.
Also… It’s time people started posting their interests again.
-
The Bitcoin model was intended for small groups. Not a world currency. It’s fundamentally broken, beyond the ASICs.
It’s necessary to fix that.
Also… It’s time people started posting their interests again.
I’m not saying you’re wrong (i’ve always said the only thing good to come out of bitcoin and all cryptocurrencies to date is the idea), however I think this is all beyond the scope of what should be looked at currently with feathercoin, you guys can barely sell it too even the core community of feathercoin, let alone rest of crypto community let alone the world as a currency.
baby steps.
don’t repeat past errors, as the old saying goes “looked where you tripped not where you fell”
I’ve not seen a cryptocurrency yet that could be used by joe pubics as a world currency, they all fail KISS.
In the crypto community innovation seems to be the biggest pump sell point, yet in reality as currencies go TRUST is the most important factor.
If feathercoin is to even get close to past glory (and I sure many here want it above that) then PR is whats needed bigtime, not constant core changes in fact they need to be avoided at all cost for now.
-
PR is stale. No one wants PR. Newcoin, who cares about it? Every coin does the same thing poorly.
Core changes are necessary because coins are smashed easily by people who only care about fiat.
You can’t do PR for any community that will last at most a month after people run to the exchanges.
What we need, aside from core changes, is a forum interface so people see what we’re doing here.
-
Anymore core changes will dig you guys a bigger hole.
Stale PR campaigns will get you stale results.
You don’t need some big flashing or tacking campaign, thats not what I am suggesting, its equally what I think should be avoided. You need those faithful to ftc to express that, word of mouth grass roots approach and to build on that.
You need members to go out and push its use in places.
I think we’d both agree also you need to livin up this community also, need all those who believe in ftc to become more active?
-
I think we’d both agree also you need to livin up this community also, need all those who believe in ftc to become more active?
For sure but I don’t think you can’t force it with ‘marketing words’. I think we need to be more inclusive and the developers need to be more transparent. There’s some seriously brilliant people around these parts and having them act more public will spark debate, encourage participation, further knowledge and help retain skill sets. People who want to contribute should have no barriers to their participation and people need to be seen to be ‘doing’ for other people to want to join in.
-
Hi all,
Questions…
Aim
What is the aim of the coin? Is it a testbed for technolgy? is it to create value for the holders? something else? or a mixture?
Target audience.
Who is our target audience (customer)? other dev? someone wanting to transfer money across the world for low fees? real world usage? speculators?
Once identified - What is our unique selling point that distinguishes us from other coins (for the target customer)? for devs this could be attractive technological innovation - a good recruiting tool, for others - to be brutal I’m drawing a blank.
and once that is identified, how to we promote the coin to that target audience?
General points (from my humble view)
The world of crypto coins is evolving and fast changing. For me this focus on coins is missing the bigger picture. We are actually looking at the evolution of the blockchain as a technology, and coins are just the first higher layer app that runs on top of it.
You can still use the crypto coins as a pointer to how the blockchain may evolve in future however :
-
We had a proto-currency experiment, called bitcoin, which was a testbed which was never meant to go mainstream, which went mainstream (mainstream - my definition - when media and politicians start talking about it).
-
We had the first generation of alt-coins, trying to address some of the shortcomings of bitcoin, and yes, some to make a lot of money for the holders.
2a) We had FTC as one of these first gen alts, with good community support, which was attacked by other coin owners (51%, etc), which promoted innovation (however controversial) to combat these attacks.
-
We had the bitcoin price explosion, and suddenly everyone and his dog was launching coins, mainly to make money.
-
In amongst this explosion, we had second generation coins, like NXT (for example) launch, with both technical (PoS) and real-world selling points (arguable) building out the blockchain for new uses (like adding an asset exchange on top of the coin). We also had the coming of the dark coins (DRK, XMR) to address privacy concerns over the blockchains public ledger. For a while privacy was fashionable.
-
Currently I see coins-as-a-service. Stuff like VIOR (which looks like it may becoms abandonware), a possible alternative to skype, containing it’s own alt-currency to use for buying credits, etc. Eventually I see blockchain services launching where the currency angle is entirely dropped, and it is sold by business as a product.
Now the alt-coin shakeout has arrived, lots of coins will end up in the graveyard of abandonware. A few will survive and serve niches.
In my opinion FTC has a good, if small, community keeping this coin going. One of it’s selling points is that it of longevity. Focus on the technology and it has a chance to survive the crypto winter. Focus on real-world uses and I think (with our current design) we have already lost. Who knows maybe we will innovate ourselves back into that race - but that should not be the focus for now.
I suspect those who bought in to FTC for a real-world return on their investment will not agree with me at all.
Cheers
Dave
-
-
Hi Dave, thanks for your input.
I agree with your process ie Aim, Target audience etc
However repectfully disagree with much of your humble opinion :)
Agree one of the big selling points is ftc longevity.
I think though in the crypto community there is way too much focus on the technology, much of the so called innovation (and shock horror I won’t make many crypto friends in saying this including blockchain) is more a solution looking for a problem.
I think the cryptos that will survive are the ones that real world uses are found for, currencies need users, more users the more valid a currency is, and to be usable as a currency the currency shouldn’t overwhelm the average user.
but yeah back to your point 1 (a point we will agree on), what is the aim of feathercoin? what is its purpose? without answering that feathercoin will get no where. otherwise it’ll always be a lost adhoc approach followed by a blame game of why it all went wrong.
-
So far I see 3 people supporting this solution: Calem, Kevlar, Mirrax
Anyone else?
100% PoS | TX Fee only with 0% Block reward, I think so, support it. We have not better choice. Prices fell, Even the electricity bill was a worry. Only free electricity can mine, 80% hashrate lost. In the future will be less.
neo miner will lost , we need a new trustee .I’m reading and studying bitshare’s code, This is a painful process.
-
100% PoS | TX Fee only with 0% Block reward, I think so, support it. We have not better choice. Prices fell, Even the electricity bill was a worry. Only free electricity can mine, 80% hashrate lost. In the future will be less.
neo miner will lost , we need a new trustee .I’m reading and studying bitshare’s code, This is a painful process.
Going pos will be another nail in the coffin, you’re really not learning by past mistakes now are you?
Increase its value, then its market price and the miners will come, kinda don’t work the other way round.
-
Going pos will be another nail in the coffin, you’re really not learning by past mistakes now are you?
Increase its value, then its market price and the miners will come, kinda don’t work the other way round.
Yes and no.
Increasing value will increase market price.
Increasing mining will decrease market price.
That is not a functioning coin.
Welcome to 2015.
I can’t stand POS personally, but without core changes, it is fundamentally broken.
-
Increasing mining will decrease market price.
There was even a proper study that proved that wrong, 1:43am here I’ll find it some other time.
Any more core changes and you’ll push it so far it won’t return, I know myself as an investor in ftc I’ll bail, as simply you guys aren’t learning, trust is the key, the whole trustless system seems to be lost on most change core on a whim alts.
I’m here cause I can see some hope with feathercoin, its one we can simplify for the masses. it has the heritage so its better to work with then most.
tba I don’t think ur dev team could even pull adding pos off without issues.
-
There was even a proper study that proved that wrong, 1:43am here I’ll find it some other time.
Any more core changes and you’ll push it so far it won’t return, I know myself as an investor in ftc I’ll bail, as simply you guys aren’t learning, trust is the key, the whole trustless system seems to be lost on most change core on a whim alts.
I’m here cause I can see some hope with feathercoin, its one we can simplify for the masses. it has the heritage so its better to work with then most.
tba I don’t think ur dev team could even pull adding pos off without issues.
Mining for fiat destroys pure theory. I know what I see on the exchanges with my own eyes.
Trust in broken code is misplaced. Pain later will be deadly, but the fact is users are not taught the mechanics of the code.
Best way to simplify is to separate from Bitcoin / Litecoin and make integrating updates easy. That’s a challenge.
Our dev team can handle it. What’s in the way is a series of bandages we put on when we were attacked.
