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A Look at Feathercoin: Why it Will Likely Succeed

Introduction

Feathercoin is an alt currency based on the scrypt protocol. It is designed to be just below Litecoin by offering 4x more coins, coming in at 336 million total. While many new coins are released every week, though, Feathercoin has shown itself to be a very tough competitor out in the crypto world, and I think everyone should follow along with it to, if nothing else, at least get a better understanding as to what makes the different coins successful. All too often we see coins that are released without the creators having any real knowledge of what they are doing, and it shows when they either die off completely or goes to a value that is worthless or very close to it.

My Start With Feathercoin

When I first got in to crypto currencies, Feathercoin was the first alt coin I found that had just been released. I was mining on a system with only 30 KH/s, so for me getting in to a coin with low difficulty was pretty important. I jumped on that coin and quickly started gaining through my mining progress on a mining pool. The coins still had no value back then, but I decided to hold on to them in the hopes that at some point they may be worth something. Over time, I have not had one regret about that decision; I am more than proud to help support the Feathercoin community!

Why Feathercoin Rocks: The Community

The community behind any coin is what drives it. It is what pushes the coin in to new merchants, exchanges, etc. and also gives it value. If the community itself is too small or does not even exist, a coin will go absolutely nowhere. With Feathercoin, the community was pretty strong in the beginning (though it was somewhat small) but has been growing at a pretty fast rate as of recent, leading to more and more people jumping on board. This can also be easily seen in its prices, which have seen a massive jump from where it was even a week or two ago. It has shown itself as being a very strong coin out in the crypto world, and as long as things continue the way they are right now I do not see any concern with it falling.

One of the biggest things Feathercoin has done to increase their value was forming a partnership. Feathercoin joined up with Worldcoin and Phenixcoin to create a new service called UNOCS, designed to allow merchants to easily implement all three of their crypto currencies in to payment platforms to allow easy payments through them. This is one of the biggest ways to give coins value; give people a way to use them directly. Prior to this partnership, the only way to use any of these three coins was to either play poker with them (which still does not add any value since they have to be cashed out at some point) or to trade them for Bitcoins that can then be flipped for cash. With direct merchant trading, it gives the coins real value because there is no longer a need to convert them in to another currency and then in to cash in order to buy things.

The community even ended up being able to send someone to the Bitcoin conference that happened recently in order to help make others aware of Feathercoin and what it brings to the table. This has further increased both its value and the public awareness of the coin, helping to solidify itself as a stable competitor to Bitcoin and Litecoin. This was definitely not a cheap event, but through the community working together to get enough money, one of the Feathercoin admins was able to make the trip. This just helps show the dedication of the community and how much people want it to be successful in the long run.

Not Bound to Any Other Coin

Feathercoin is wanting to stay separate from all other crypto currencies. A lot of people feel that Litecoin is basically just Bitcoin but in a scrypt form. This had led to the prices of the two being pretty much proportional; if one goes up, the other does, and if one goes down, the other does too. Feathercoin is designed and marketed in such a way that its success or failure should not be dependent upon any other coin; it could potentially pass up Litecoin in value at some point. It is important to realize that while Feathercoin, Worldcoin and Phenixcoin are working together in a partnership, all three of them are still separate entities. Think of it as three businesses working together; they may be helping each other because it has mutual benefits for all of them, but they are not all a single company. One could fail or be dropped at any time, depending on the market and the views surrounding them.

The hard part to keeping themselves from being attached to other coins is that the community as a whole still tries to relate them all together. There is really no concept of individuality right now, and most people like to just mine and sell the most profitable ones. My hope is that this will start to change over time, as more people join the community and more coins start to show themselves as being viable solutions out in the real world, and Feathercoin has the ability to set that precedence up if it continues along the same path it has been on.

Core Member: John

John is by far one of the most important members of the Feathercoin team. I would argue that he is the most important, though Bushstar has done a lot by creating the coin as well. John, however, has been the person that has pushed Feathercoin above and beyond what I expected it to get to. It has been reaching new heights on a consistent basis, and it has shown no signs of slowing down. All of this was done by John and his personal involvement and pressure for others in the community to get involved as well.

If you look at the official Feathercoin forums, it is hard to argue that John is not active. His posts are found nearly every day, along with tons of new threads explaining what he is doing, what others are doing and what still needs to be done. He is constantly pushing for people to get involved, and sets up groups and organizes rallies to help everyone stay organized. This has shown to be a very successful way of running campaigns for Feathercoin, and I think other coins could learn a lot from his knowledge.

John is also the one (as far as I know) that came up with the concept of UNOCS, or at least the idea of forming a partnership with other coins. At the time that the partnership was formed, neither Worldcoin nor Phenixcoin were really that popular yet. Worldcoin was mostly just known for its free lotteries, and Phenixcoin was known for its poker site (which appears to still have bugs in it, but that is a separate discussion on its own). In any case, Feathercoin's partnership with the other two has boosted the popularity of all three by bringing all of their communities and leaders together.

Feathercoin's Future

I think Feathercoin has a very strong future ahead of it. The coin has already come a long way as it is, and the developer has been working hard at keeping the coin secure and working towards negating any type of future attacks on it. This, mixed with its strong and still growing community shows that it has the backing needed to be successful in the crypto world. While most people think that Bitcoin and Litecoin are the only coins worth going for, I feel that Feathercoin will be joining that mix very soon. In fact, the Feathercoin community is pressing hard to get in to exchanges like Mt. Gox and any other big ones. Being successful in this push would add even more value to an already growing coin, and would help solidify its place in the crypto community.

Conclusion

Feathercoin is a fairly new coin that came out with the surge a month and a half or so ago. Out of all of the coins released around the same time as it, Feathercoin is the only one that has been able to hold its ground and consistently grow in value over time. The community that backs it has learned a lot in the process, such as how to work together for a common goal and how to link up with other coins to back each other up during network attacks and in facilitating new feature additions and services. This has brought them very far, and as long as UNOCS exists, they should keep raising the bar for future (and existing) alt coins!

Feathercoin


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