Bitcoin Forum

Reviewing the trades from the first day's operation of the BitBar / Bitcoin google docs exchange topic - https://docs.google.com/spreadsheet/ccc?key=0AvzceU1B6xtPdFg0M2kza2pQQ2o0b2RzNFZnRlNiclE#gid=0

The following orders were fulfilled,from newest to oldest:

Buy 55 BTB at 1.2 BTC per BTB  (vlaouu321)
Buy 1 BTB at 1.2 BTC per BTB    (bitpar)
Buy 5 BTB at 1 BTC per BTB   (cvrchameleon)
Buy 24? BTB at 1 BTC per BTB  (Blitzmd)
Buy 0.5 BTB at 0.5 BTC per BTB (Boelens)

I also saw a couple of topics where orders looked to be filled at 1 BTC per BTB.

What will the future hold? Only the free market and supply and demand can decide, but it's certainly interesting to see a new cryptocurrency sell for such high prices. This is the first time in history a cryptocurrency is being bought and sold for higher than Bitcoin... if nothing else it is a historic moment! Miners are flocking to the coin as the network hashrate is growing fast as is the difficulty, the coming days are going to be very interesting :)

- There was 5 minutes of premining done in error by the tester - those bitbars are being donated as a bounty towards the exchange. See the official launch topic.
- The difficulty for Feathercoin was also at 0. In fact several coins launched that way
- As with most new coin launches on the first day a huge amount get created for the super early adopters (2 million for PPCoin, 200,000 in the first 2 hours for Feathercoin, many others...)

Keep hating :)

Insane and stupid. Unless the preminers take responsibility to make the price higher enough. Otherwise there's no use.

If the preminers are trustworthy people (which means they will always buy back the BTB if the price is lower than the IPO price, I say IPO because this is just a centralized security issuing), otherwise this is plain scam.

 :D

Me too. I am not trying to predict the future but things have gotten off to a very good start. If it gets an exchange built for it or on Cryptonit in the next couple of weeks, anything could happen

Yup. I didn't even mine any (couldn't get it to work). The only BitBars I have are BitBars I traded for on the first day which I can prove through my private messages - and it's not a crazy amount.

Obviously I want BitBars to do well, but the free market will decide. I am just happy to be part of this.

It is correct that large beneficial is always for the early adopters, but for the currency, there need a certain level of inflation just like Bitcoin. Without inflation, this stuff will either turn to the private toys or the public scam. There're only two ways left for you to choose as for centralized issuing you have no credit at all.

Yeah bitbar is starting to look alot like a scam.  The community seems to be rejecting it as you do not find much on this forum other than spam promoting it as the new future in digital currency.

The code is based on Novacoin which is inflationary.

I don't claim what is going to happen in the future, I am merely reporting on yesterdays trading activity which is pretty intriguing. 1-2 months from now should be very interesting for us to look back on

Bitbar was never intended to replace Bitcoin as the future digital currency, but It was intended to put some of your Bitcoin value into a BITBAR, my prediction is 1 Bitbar will be worth 10 BTC a month from now.

I can verify this. I traded mr_random 4 BTB for 1.6 BTC. In retrospect I should have held on to them as they're worth more now but for a 1 day old coin it was too hard to turn down that kind of exchange rate. :D

If mr_random was the creator why would he be buying them from me?

Let's see this quote 1-2 months from now and laugh.  ;D

He will have deleted his post by then. The funny thing is substrata is the scam not BTB.

Something really funny is he was hating on feathercoin hard, bashing it in every thread and no-one listened. And the next day he tried to buy some. lol.

I'm of the opinion let's sit back and see what the free market decides.

67 Posts and people dislike subSTRATA already. I just realized that o.o Anyways, say what you want sub, but to me you seem immature. You tried posting a graph to compare the number of units over time and, it failed. No one will be able to mine 20 mil BitBars in half a year. If you truly graphed both plots, the steep jump at the beginning would have been insignificant due to the fact that you are "zooming out" on the graph.

It's easy to sound smart when you keep erasing your old posts.  ;)

Still, my quote applies the same.  ;)

Dinosaur shit is rare and fetches a high price.  Doesn't change the fact that it is still shit.

http://m.discoverychannel.com/tv-shows/auction-kings/videos/auction-kings-strange-stuff/pricey-poop (http://m.discoverychannel.com/tv-shows/auction-kings/videos/auction-kings-strange-stuff/pricey-poop)

Totally ignores my comment about his graph. gg.

You make the industry look like a bunch of nerds hanging out in their parent's basement.

Most of the addresses that received a lot of blocks after coin launch have already been divested. The premined blocks are here (https://bitcointalk.org/index.php?topic=195372.0). I don't think anybody's going to flood the market if it's ever launched on a major exchange, certainly no more than when FTC hit BTC-e. Also, calling people names on the Internet means you already lost.

wow you have a boat? or took a picture of a boat? that's relevant how? ...to Crypto currency?

I'm neutral on BitBar  , if you want to post pictures of boats can you go to a Boat forum?

I don't care about a boat I'm from Australia we have lot of boats here , lot of water lots of boats. - plenty of fat middle aged dudes as well, floating around in them.  

this is not helping the Crypto community.

Well it's almost 30 days later and it's about 0.13 of a bitcoin however I am still interested in the currency. I don't know why, mostly watching and I tried to mine it however it seems difficult. I'm very late to all currencies and most alts seem to suggest quite a bit of hubris at the start and slowly shrink and find their spot on the market some just die all together.

Mostly from people losing interest and also jealousy from pre-mining. I know everyone knows this and is not needed by me to tell everyone.

Now I'm not currency expert but if you want to keep people attention (the right people) and you just can't really do anything about the premining of early adopters then why not have the coin offer smaller rewards at the beginning and increase as time goes on and then stops increasing at a point.


1-100k blocks  rewards     1 coins
100k -500k rewards         10 coin
500k-1m rewards            50 coins
1m-5m rewards              75 coins
5m-10m rewards            100 coins



Basically the reward is according to the currencies money supply. The more that exists the greater the reward as it matures gaining the interest of all types of currency adopters from miners to speculators. This also keeps the currency alive with miners and the processing of transactions going.

This is just a rough example just to show the idea in practice

This will make the later adopters interested and NOT jealous
this will make everyone keep interest in mining.
This will have people hold on to the currency and not dump it
This will have people interesting in investing into the currency.

I believe it solves a great deal of the issues we are seeing with alt-currencies today.