Bitcoin Forum

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.


Here's an example:

A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)

Releasing all kind of various altcoins instead of focusing on one main crypto will be a downfall of cryptocurrency. We need to have strong leading coin. Not dozens of weak ones.

Won't work. The first part of your idea is good, food is money. But turning this into a cryptocurrency means that the created token will pushing against mainstream currencies. The face value of the food will unavoidably be overridden. A barter system is the closest you can get to a "food is money" situation and even then it won't have solved anything. Essentially it would be the same thing we have today minus 95% of the complexity. And the longer the barter system exists the more of the lost complexity we would get back. Even if  the barter system doesn't evolve at all.

It's very complicated to applying in the real life, i think will better if we mixing all of the coin into 1 form, for making that can be more easier in my minds. Very confused if the coin is be divided like that.

I think this idea wont work for the long term because crypto currencies need time to be popular and well known, and to get some value too, so dealing with Bitcoin would be the best choice for those companies

Can't see this taking off at all, sorry buddy. I'm pretty certain it wouldn't work. Why couldn't they just continue to use fiat or even bitcoin. People who farm or catch lobster make a lot of money they won't need to stray too far from what they do now which works any way.

a farmer wont release the coin. because who would buy it.
the retailers wont because what they want to buy is the raw food produce,
lets say that a farmer convinces a retailer to buy it.. ok the retailer gives dollars to the farmer gets a coin then instantly gives the coin back to get the dairy/meat.
whats the point right!

the the farmer wants to pay rent. so does he ignore his coin and just pay rent in dollars.. well in the OP's mind no. so now the farmer gives the leaseholder of the land some of his coin and the leaseholder instantly gives them back and asks for dollars

see its useless


unless all farmers got together and wanted to work under one network(coin) along with some retailers and landlords, there is no chance of it becoming viable.
and even if all farmers did work together, they would still need to work out how to utilize the coin to have an actual function. beyond the flip-flop-flip of their coin

this is why so many altcoins fail.
1. they dont understand WHO will be using it
2. they dont understand WHY it will be used
3. they dont understand HOW it will be used

remember moneys initial invention was to be an understandable measure so that it solved the problems of
1 horse-shoe is worth 5 loaves of bread or 10 bowls of soup, or a night with a prostitute.
because having lots of different prices get confusing. so having one measure that everyone's individual goods and services can be measured against allows pricing something to be easier to understand and manage

its utility is in being the middleman of bartering. where people didnt need to know about soups, bread and prostitute value to be able to price their horseshoe

because a king would say 1xmoney is an hours hard labour
the horse shoe maker know the time it takes to get the metal, stoke the fire, hammer the metal is 8 hours. so a horse shoe is 8xmoney
the bread baker know the time it takes to get the flour from the mill. stoke the fire and make bread is 40 loaves for 8xmoney
and a prostitute sells her time in 1 hour amounts (even if she can finish off a guy in 10 minutes) so an entire night with a prostitute is 8xmoney
and they all come to an understanding that they can fairly trade their own goods for a reasonably equal value by knowing everything is valued to the same thing, money.

meaning anyone can value their produce easily against money without having to care or know about other peoples produce

but in the OP's idea of individual farmers having their own coin.. just wont work. they might aswell not have the coin and let the produce itself be the measure (making fiat the value transfer) because a individual coin holds no measure or value.
if a farmer is setting a random value for the coin. its no better than setting the price for the produce itself and not needing the coin, essentially

I guess you are kidding,but anyway the only thing that gives a currency any value is the human labor.

Food can`t be a value,foods is just a product.

And it`s better to have one strong cryptocurrency instead of 1000 weak cryptocurrencies.

This will bring confusion to everyone that havent know the bitcoin yet. Everyone is right we need a few strong coin to continue on cryptocurrency so we can also advertise it more.

what reference you have of your examples? are these your own imagination or these coins has been established?
I only heard Clam coins. but never heard that, that coin is belong to any kind of farm...
not only farms. and food industries every farm of life can make their crypto currencies now. even schools and colleges also make that. but thing is not about making a coin. thing is about running a coin and making it a successful coin which is not easy for everyone.


Leading Crypto currency is obivously "Bitcoin" you should use bitcoin then.

that's definitely not a good thing to separate every coin and naming it with various title,it'll make so many people confused and will took so much effort for only exchanging currency so i guess it's not a good idea,it's better to unite and create a crpyocurrency for example,creating foodcoin or etc

I think those kinds of people will probably just using an existed cryptocurrency or even just use Bitcoin rather than make their own cryptocurrencies, because how do you know that people would be interested in those new farmers coins. Except if all the farmers in this world united and make a statement about they won't accept any other kind of payment method besides using their cryptocurrency.

Having different coins per transaction will lead to confusion. If I do need to buy a crab for example, what will I do if I don't have crab coin? The tendency is go through exhanges and trade any of my available coin into crab coin for me to buy a crab. Even just think of it is complicated. For me, it is still better to have one cryptocurrency that can be use in any transactions, more convenient, less hassle.

It is true that demand of food will always remain high with increasing population and decreasing farm lands. However the coins if those farms release, than price of coin will depend upon the share value of those farms rather than keep on increasing with demands.

Not just food industry, every bank will have their own cryptocurrency. But what is the use of everyone is having their own "private" cryptocurrency. It may help them to transact with less transaction fees but not in reliable way.

The purpose and potential of bitcoin is totally different and no altcoin will be a threat for it.

That means we have to mine 100+ coin to deal with various situation to but various items. It's definitely a not good idea to launch so many could, returned it would be best to have one coin for all  that is bitcoin.

i think this mostly sounds like a good idea rather than being really good and practical. if anybody wants to start a new altcoin with his business we will have millions of coins after a month and the value of a currency is defined based on supply and demand so what if there were no demand? what happens to that business.

I dont know whether farmers would release their own cryptocurrencies in future, but already there are large number of crypto currencies and if it  increases, it would lead to a huge confusion and decline of crypto currencies.

world food be part of farm cryptocurrency I think you exaggerate,in theory would allow them to become an authority in the network,With the increase of new miners, which means the level of difficulty is increasing, If passengers in large numbers leaving the network then the numbers will decrease difficulty.

We are already having all kind of various of altcoins.So that won't make any difference.
The market will decide if these "foodcoins" would be useful or not. In crypto we let the market decide.
Most of these new coins will disappear as quick as they came.So I wouldn't worry about that.

You would be surprised at how the availability of computers is going up exponentially. Farms will not only implement Bitcoin, but I'm pretty sure that independent markets which are threatened by the government (most of which are farms and ranches) will make a killing selling things like raw milk and rain water on hidden marketplaces.

This is actually a neat prediction. However I really doubts that they will be releasing their own cryptocurrency because marketing a new altcoin takes time. And Bitcoin, I mean cryptocurrency is a new technology, big farming corporations may know how to use it. However their customers may not know how to use it.

It will be a better alternative for farmers or farming companies to start accepting a already polished crypto like Bitcoin or Litecoin.

I don't think so because a lot of farm and ranches is still assisted by the government, and maybe very complicated for selling their results into hidden market and too many time will just wasted for doing that if the people in their environment is still need their results.

Totally agree with these guys saying that we need a strong currency like foodcoin (personally i dont want a name like foodcoin, dont want the coin thing at the end , bells me alarms from the past mooncoin,titcoin, etc lol ) it must be one coin for all ! so no competition or pnd schemes from comptetitors , but what will happen if this goes trading & a whale join the scene ? the whale will own the farm prolly... dont know sounds complex , i prefer btc or the main crypto currency by then.. one for all

This will not going to work, I think most of the community or people might get confuse into it. Why not try to use one main coin and then give the main details of benefit so that people might get aware unto it.

I agree to other ideas to stick to one coin not making many coins according to the food name so it will not confuse other people and making it easy to memorize .

I think it make no sense to build coins for every farm/food. Because cryptocurrencies are backed by blockchain technology, which supports decentralized services.

First thing food is composting material so it has limitation in distribution globally. Also if such coins listed in crypto market who will decide price of such coins.


And most important thing is we can use blockchain technology as service to give better administration, governance and system. We cannot use it for trading of physical things bcz price matters. In such cases fiat currency always play important role.

i don't think that the farm companies will be releaseing their own cryptocurrency because not many farm company that know bitcoin and they didn't know about bitcoin technology. if the farm company wants to release their own coins, they should think about many thinks, especially who will use this coins, what this coins benefit for people, how strong this coins will be survive in the market, and is this for short term or long term. beside that, many thing should be prepare.

i can't imagine if this coin is release in cryptocurrency. maybe this farm will get bigger but for sure is this farm companies need big budget to create and release their own coins.

They're not "assisted" by the government. They are forced into government intervention. Some of them do contest it, with severe consequences. Just look at the Bundy Ranch as an example.

It will happen eventually, but before that, the hidden markets will need to go mainstream, and we must come to realize that government does not exist.

People will not buy into Alt coins that can be pump n dumps and also be manipulated. The fiat system is not the only thing that can be

manipulated. The farmers can ask the developers to change parameters as they go, if this is not a public Blockchain. These farmers will be

better off using Bitcoin, because it has a already established network, and people using it.  ;)

Farming is the past and the future.
So it only makes sense that it evolve just like our currency has.

I would love to be able to buy a Big Mac or a Whooper with bitcoin.
But I doubt we will see this occurring because McDonald's and Burger King are too big of a francaises to allow bitcoin to be accepted.
When it comes to farming sure. It is dire need of some capital to be put into it for it to continue to be profitable for the farmers to do this sort of work.

I think OP's idea is not that far from reality. It's not that hard to make an altcoin based on how frequent a new altcoin occurs. I just don't think farmers would do such a thing because most of them and the people around them aren't into Internet things like Bitcoin. Maybe if a company like McDonald's, then the possibility is much higher. The altcoin will serve as a token to buy things.

It's a cool idea but I don't think they will fund this project. Not that much people knows about Bitcoin, let alone altcoins. And also, why do that much effort to get an altcoin just to buy your burger when you can pay directly using your fiat.

If the companies ever do start making their own cryptocurrencies, I doubt that anyone would actually buy them. Saying that, I doubt that the farming companies will even want to make their own altcoin. I think that Bitcoin should only be accompanied by altcoins that are actually going to succeed.

indeed its very complicated.. other businesses nowadays wont even adapt to bitcoin and other alt coins.. and most of the farmers are not that techy in nature..   :)

good idea . but it will be very difficult to develop. we can not impose its will in determining each coin used.
This would make the limitations that might be a blunder to drop the coin. the realization of which may not be light.

There are allot of difference between these two because i think that bitcoins are made for other things instead of buying food of it need to be used for other things for sure and i know for sure that not allot of people are buying food with coins.

i was at a meet up a while back where a guy was taking about linking crypto to pork exports to china, very interesting

I don't think it will work or even will come across by farmers on making their own money. It will create a complication on the different kinds of money for example: you need a different currency just buy buying ingredients for your dinner time food, that would be several kinds of currency. And also would you think the government will approved this kind of system? In which farmers can hoard all the coins in order to increase its value? I don't think it would be right.  

I already addressed this. I used to actually live about twenty minutes from the country side, I was really surprised that they started implementing Android tablets to receive orders. It's not uncommon, times are changing.

I don't think this will work out at all.
Besides the funny names, there's just too much cryptocoins needed to be managed if we're going to be having a farm. You won't really be able to see completely just how much capital you have, knowing that every food coin have different values in real money. It's an extra effort to try to compute just exactly how much you have.

I really don't see how this is a topic even worthy of a real discussion.  If you want people to mine the coins with electricity, do you need to pay the electricity company "electricity coins"? What about raw materials, such as lumber, to build your barns? "Lumber coins"? No... It just doesn't work.  Money is supposed to be a bartering tool for all forms of good and services, and isn't supposed to be used as coupons or tokens for something you're buying directly (i.e. bringing tickets to a teller you earned by playing arcade games to buy a stuffed bear, etc.)

I mean look at how food stamp debit cards work... you don't see those things being more valuable than money, do you? If some poor person got a food stamp card (which can be used to buy something nutritious at the grocery store), but decided that they wanted cash in exchange for their food stamps in order to buy drugs, then you will see someone buy it off them for way under the price of the card.

From a economic perspective it makes no sense for companies to release an ever increasing number of altcoins that have no general market acceptance. The only reason may be advertising, however the coins will have no popularity if they are not directly exchangeable for Bitcoin.

In my opinion, for practical reasons companies will not act differently than private individuals and mainly use that cryptocurrency that has the greatest market acceptance: Bitcoin. Of course it will be great to see more companies from the primary sector to accept Bitcoin for their products. And in fact, Bitcoin can make transactions easier and grant access to a wider marketplace without additional cost. So I think there are motivating factors that will encourage Bitcoin acceptance by the primary economic sector irrespective of the coin branding.

ya.ya.yo!

You really don't need anything like that to be completely honest, food and so has its value and if Bitcoin was to be the biggest form of currency transaction throughout the world it should just have a Bitcoin value pegged to it, e.i. 5 mBTC for a pound of fish. Not really worth adding more numbers to anything because they are just less beneficial as a whole and never really help anything.

You don't need 1000 items to do something a single thing can do easily.

That's the complete answer, and I feel that if every person or merchant is owning their coin and if someone is wanna for buying more than 10 type of goods and he also needs for bring more than 10 type of coin too? that's a useless idea. because we just need simple things just using 1 type of payment can fill for buying all of the types of goods

This won't happen in a short or long as the digital currency acceptance is very low compared to other physical currency usage. So when entire universe accepts digital currency, it paves path for such advancement in the field of farms and other food industries.

This way it will not be called mining anymore but instead farming.  ;D
We they created a lot of names for their altcoins so this have a great possibility. How do you want your LBTcoin?

You may have a point here, but if you observed the current trend. crypto currency especially the bitcoin is gaining more acceptance and more big companies are utilizing the importance of it. Gaming also for another. But in food industry,  it must be simplified first maybe like the used of BTC  ATM , as farmers have dont time to study the technicality of this blockchain,wallets etc.

I do not know why you are all taking OP so seriously but is there a chance that he is trolling? I have seen him before at Politics and Society and some of his threads are conspiracy theories that are way out there.

But for what the idea is worth maybe a food token could be worth something. I am thinking something like "crypto food stamps" that are accepted in exchange for food items in a grocery store. They cannot be counterfeited, double spent and the transactions are transparent on a blockchain.

The one issue that I see that could slow things down is the confirmation aspect.  Fast food would not be fast food if your payment could take up to an hour or more to get confirmed to the point their company would want. 

Third party wallet companies have addressed this and there is a system spoken of here on the forum, but that does add a governing party in there. 

At first, I thought it was a great idea to make food into some kinds of currencies but after thinking about it more, I don’t quite support that idea. Because if each kinds of farms release their own cryptocurrencies like mentioned then it’ll be a total mess with a bunch of weak coins. So why don’t we just concentrate on one coin and strengthen it. It’s like why countries mostly use only their national coins instead of a long list of useless currencies.

It's not that easy because BTC needs confirmation time and you'll have to sit there waiting for the confirmations so that you can pay.Apart from that I think BTC is a great means of payment for sure.

i do not know what to say exactly but its a prtially good + bad idea. as because it will not only let farmers keep an access into the market but also make bargannig for products more. i mean if farmers know the actual price then that will be costly for us

Your right the payment speed is one of the problem but i think if they can convert in just like convert it into points first. To use it easily without waiting for transaction because you convert it already into points but they should invented a card for points so that they can pay fast or instantly without waiting for confirmation..

Instant has to become more like instant and the payments have to be as quick as cash or credit in order for many types of businesses to accept it.

I absolutely agree with this, and I do believe bitcoin is the strong one by far.  But I think in the future we might use some of the *brand name* ones concurrently.  Like litecoin, dash, and the big ones that actually have a community.  They all have value and can all be used as currency.  These smaller ones are going to be absolutely worthless and there definitely does not need to be so many of them.  They're dying off as we speak.

If you think of it as a Stock pespective that is not the case for most of the people. Have you seen any stock compamy that only all investor want to invest in it? Clearly not as the saying goes  " Don't put all your eggs in one basket" . Because putting all your money in 1 stock might be a dangerous thing to lose money. Just like bitcoin putting everything for 1 cryptocurrency might be worst than what you think. Remember cryptos drop faster than fiat money.

I kind of doubt it will work, i think we prefer 1 strong currency like bitcoin rather than  alot of alt coin which the value is small, so i think its best if we can encourage them to just use bitcoin, it will help bitcoin to boost and they can rely bitcoin as a good payment

Copy cat clones are worthless, but if an alt has a truly revolutionary idea, I would support it.
We have Bitcoin as the leading crypto, but not every idea can be implemented by the developer team.  :)

What makes...


...result in...

?

I know you're a troll, but i really want to know what the logic is that links the fact that farmers realize that their means are the food they grow to them realizing that cryptocurrency "will only go up"?

Hahahaha I think he is wanna for saying if the food is a primary need for a lot of people and maybe in his perception caused by that the value of farm cryptocurrency will go up like his said. but maybe it's less than my logic in my mind.

It makes sense to me. In a voluntary mutualist society, we would value tangible goods/services like food over some piece of paper issued by the government in exchange for labor. Cryptocurrency is a great way to exchange without government interference.

I don't think this can work, it will just make big confusion on the market. Process of buying something from farmers will be harder, and for farmers will be harder to pay bills, and harder to buy things he need for the farm.
Like in second comment in this thread, its much better everyone to focus on one crypto currency,and try to make one strong coin then to split our forces on many smaller ones.
This idea is almost impossible when I think about uniting farmers across the world for some computer thing, they are farmers probably  many of them are not so good with technology. Its going to be hard to persuade them to accept system like OP is suggesting.

The governments of the world will not allow for < Commodity coins > to be traded, without their intervention and manipulation. They want full control over all currencies to manage the economy in the way they want to. The consumers will also not accept this. Imagine if you want to buy 1 lobster and 1 Apple and 1 bread etc.. and you will have to deal with separate Crypto currencies for each? This will not work. ^sorry^

Its a very good idea to habe a coin hacked by an actual farm. Investing in a farm sounds good to me. People always need to eat and so the demand is endless. If you can supply fast enough you stand to make a great deal plus even more when the value of the currency increases in the exchange. It will be a good way to create more jobs for other people to also work on the farm and be paid in the currency which counts as an investment too if they do not sell right away. If they do want to sell right away I would suggest you pay them bitcoins instead and leave the coons for those who want to make an investment. The best part is the minimum invest!end amount doesnt exist and can be $0.01 if you like.