Bitcoin Forum

Fireworks!

Now we need to get it on coinchoose, as it has an exchange and block explorer.

Is it a good thing to get onto coin choose this early in the game? Like I've been saying, restraint would be good, and a welcome change from the tactics of other alts.

Good point. I'll hold off myself on that for now. Not sure someone else won't bring up the point though. :)

However, being on coinchoose could encourage the mining community to take it up (especially if profitability was high), and would definitely boost the network hash rate, as well as spread awareness of it.

I think an increase in network hash is a sign of health of a coin. Not sure of the other dynamics about being on CC though. Definitely don't want to encourage a pump/dump dynamic at this point.

I could find a block solo previous night. Not sure if such delight will ever happen again once many start mining it :D Wait a bit :)

Sweet. Can't wait to see it listed in coinchoose.com and dustcoin.com

Talk about a rare coin :D

That's one small step for BitBar, one giant leap for cryptocurrencies.

There's still a massive variance between what the sellers think it's worth and what people are prepared to pay for it:

I wonder which side will relent first?

With regard to the pricing, here is a previous post of mine estimating what the fair value is:

Litecoin:
Network Hash: 16,759,472 kH/s
Total Supply: 17,392,400 LTC
Current value: 3.14 USD/LTC

Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 815 LTC/BTB.

Which seems insanely high (24BTC/BTB). And it is, it doesn't take into consideration adoption, reputation, age, etc.

So compare it to one of the lamer coins of recent times, feathercoin;

Feathercoin:
Network Hash: 1,133,753 kH/s
Total Supply: 6,505,600 FTC
Current value: 0.22018 USD/FTC

Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 315.8 FTC/BTB.

Which would value bitbar at about $70 USD/BTB (0.65 BTC), which seems very low (probably due to the problems feathercoin currently has).


So there's a rough high and low point for the exchange to base the price from.

My personal feeling is that around 10 BTC/BTB is a fair price IN THE LONG TERM. Short term price, anywhere between 1.5BTC/BTB - 2.0 BTC/BTB.

Its not officially traded on bter yet. So no need to hassle. At the moment most people know about that option to sell/buy are those from the BTB threads here in this forum.

edit: and thats causing a imbalance towards the sell side.

Scarce or not it has no real value besides speculation until it is acceptable as a form of payment somewhere, much like any other alt currency (Litecoin excluded).

Personally I can't see it trading at anything over 1:1 and will in fact probably settle at about 0.5-0.75:1 (about the level it was being traded initially) but we'll see what happens when the miners find out it's being traded on an exchange and start cashing in.

Seems Bter has auto withdraw now :)

o.o

I'm not bashing this coin (I don't have any so maybe I'm a bit jelly..)

but I seriously cannot imagine any coin being higher than BTC, that's just my opinion.

Will be very interesting to see where this goes.

even bitcoin is for biggest parts pure speculation. coffee and drugs thats what its about at the moment.

It's all relative. There are 11 million BTC and only about 3000 BTB.

Go get you some Bro...

https://bitcointalk.org/index.php?topic=194324.0 (https://bitcointalk.org/index.php?topic=194324.0)

You raise a good point, is a psychological thing. But to give an example:

   Say there are 5 bitcoins in existence, 10 litecoins, 50 feathercoins, and 100 namecoins.
   If the current real world economics are applied, and let's say bitcoin is valued at $100, then due to the availability of the other coins, litecoins are worth $50, feathercoins $10, and namecoins $5.
   That's how pricing currently works.
   Now if a new alt comes around; bitbar, and there's only 1 bitbar in existence, if we follow the pricing model, that bitbar is worth $500 dollars.

"But another alt can't be worth more than bitcoin?"
Of course it can, it's all about the economics of the coin, it's availability, circulation, supply, and future potential.

Personally, I think that bitbar has a future, it's an alt that's (so far) not been pumped, not been spruiked by shills, and has not been overhyped. It's just steadily chugged along in the background. That's what you want from an alt, steady, consistent growth with a long term future in mind.

The only value in cryptocoins lies in
1) Stability in price (good for merchants and users alike)
2) Security of the network
(besides obviously ease of use, anonymity, etc.).
The price doesnt really matter if you are interested in building a working economy out of it, that is just a side effect of its usage adoption.

Now with BitBar the issue is
1) as tiny alt coin there is no stability at all,
2) as tiny alt coin the network isnt very secure either
besides other problems like denominations are too big (pple are already want to switch to mBTC or uBTC), bitbar deliberately fools you into thinking just because its rare it must be valuable - Instead it is just the opposite with cryptocoins,
if they are not rare and are traded all over the place they have value.
my 2 satoshis.

Good explanation, however, it will take time, which no one knows how long. This is the reason why LTC is not 1/4 of BTC yet.

For example  if 1 block feathercoin reward 0.0001 instead of 200 then yes 1 feathercoin will > 1 bitcoin

LTC's network hash rate was on average 0.5Gh/s three months ago, lower than the current BTB network hash rate, and it has been there for a year. Yet no one has successfully attacked LTC, so I dare you try and attack BTB network if you think it isn't very secure, PPC based coins have extra protection against 51% attack thru the use of check points and PoS block generation. It's nearly impossible to 51% attack a PPC based coin.

Price stability has been surprisingly good, hovering around 0.5btc-1btc ever since inception, even on the exchange it's still trading in that range. I'd say the price stability is solid against FTC or CNC.

Denomination is only too big if you use it as a transactional currency, which it is not, it is designed as a reserve currency, for example US banks transact inter-bank physical bill business using $100,000 bills, not circulated in public's hands.

ooo $100k bills. I want one..  ;D I have a 5k bill  :)

BTer run out of room at the top for all the coins?

I can see what you are saying, but what about all the people who tend to hoard coins as a store of value?

Edit: redundant

haha, nice!

I think hoarding is not storing value but speculating that the currency appreciates in value through increased adoption, ie higher volume of market transactions.
IMO nobody just wants to "store" fiat in volatile commodities/currencies, if it isn't speculation in part at least.

Also if banks want to transact money via cryptocurrencies, it makes no sense to use BitBar if they already use Bitcoin (type a number and hit send in both cases). Also 100k dollar bills make sense if you would otherwise end up with piles of paper money, but sending 10kBTC or 100k BTC makes no difference really.

oh but it would make sense, you are aware that Bitcoin chain grows by 6GB+ every year, at current transaction rate?  You think banks/big players like to deal with all that bloated blockchain shit with tons of dust/spam and possibly tainted coins? Compared to Bitcoin, BTB blockchain is tiny and will always be tiny because it's PPC based, with dust/spam protection. Also the large denomination discourage using it as transactional currency, so it is the perfect reserve crypto for banks/big players.

What would be cool to see, are these "banks" keeping reserves of bitbars in cold storage :). Gold bars in a vault.

If anyone wants to cash out some BTB I'm buying at 0.7 BTC per BTB which is higher than the BTER bid price  ;)

PM me.

we need an exchange with volume bter seems to do more damage then good

Thats what I feel. Some people holding them are panic sellers lol. With only about 3k in circulation, why be a panic seller? I dont get it. Is 0.7 Bitcoins really that much to those people?

Wooot thanks for the link, I just dumped the 0.2 Bitbar that I mined before I discovered it was just a scamcoin, I got 0.14BTC for it LOL

you are just a trool

want proof?

Markets decide what something is worth - which is why so many of my alt coins are currently worth practically nothing!

I have a proof that BTC creator bought a island! :)

well dont get me wrong chinese people still dont know that BTER is trading BTB, soon u will see different bid range.

yeah
 + in 8 hours BTB gona be on http://coinchoose.com/ and ppl gona see huge profitability

mission complete. Operation Step 2 effective ASAP  ;D    . In BitBar do we trust

so fast....

i assure you to get BitBar to reputable and stable Exchange so fast was no accidents

Nice. All they need to do now is put a BitBar tab at the top so everyone can see it's on there. I wouldn't have known if I hadn't read this topic.

.5 btb for 1 BTC anyone  ;D

The highest sell price on bter.com is 0.8 and the highest buy offer is 0.666. Why would anyone risk a private trade for more than the current going rate?

because some people are just dumb ?

Not Scambar, ha ha.. ok. Have fun w that.

Well his name is durrrr. ;)

the going rate will go up in the next coming days way more than 2btc/BTB

The market doesn't seem to be agreeing with you. Apart from a few people who were desperate there has been very little compromise on either side. Perhaps this will change in time or perhaps it's just overvalued.

Are you high? It's almost impossible to mine BTB at current diff. Correct me if I am wrong but at 1-1 BTB/BTC isn't BTB harder and less profitable to mine?

yea the going rate must go up because people have been buying and selling BTB on my exchange for as high as 7BTC per BTB. if rate does not go up i believe people should not use Bter to buy and sell BTB due to the fact they would be doing harm to the already prestigious statues

No, it just proves that people have been paying too much for it.

No kidding. His 'exchange' is also pretty rigged and he has spammed his 'real price' all over the forum for weeks.

Nice idea  ;D

Trucoin, if you really believe it's worth that much then you're doing BitBar a great disservice by not heading over to bter.com right now and buying all of it at those low, low prices. I mean you can resell it at 7 BTC per BTB right?

Honestly, I got the same email, they asked NOT to spread it -

It's not fully plugged in.

The same thing happened with BBQ coin the other day, and probably CNC as well.

Wait until its fully integrated. As of now a normal member cannot even deposit BTB onto the site. (Atleast I didn't see where.)

look at bter, any sell order poop out below 0.8 is instantly sold.

Deposited fine from the wallet

you have the link for it

Deposit link here guys


https://bter.com/myaccount/deposit/BTB

Yeah I'm blind/dumb. I just saw the post above me.

Daamn, last time I checked I am sure btb.binarycoins.eu had < 150 MH/s

Can you all stop mining for like, 2 hours.........please!  :'(

already ahead of you , plus for over a week people have been sending me offers to buy there BTB for real cheap because they didnt understand BTB even with me telling everyone its value. The cheapest i bought BTB due to other peoples stupidity was as low as 5 LTC for 1 BTB . PEOPLE need to educate them selves before offering there crypto for sale. TIME is your friend DO NOT rush to sell youR BTB becasue the market CAPS are endless for 1 BTB educate yourselves right now with my simple advise  BTB value Within the short to near future 10-100 BTC per 1 BTB

You could have, but you didn't, now you don't have the first mover advantage and no one will support it.

its all about who did it first. BitBar came first so it will always be the king of the bars just as Bitcoin is the king of the coins !!!

6600 blocks is not 6600BTB please do a little more research

Dropping like a stone just as expected. Have fun with that.

You know Trucoin.  I have been reading your posts with a little scepticism and thought you may not be all there but
it suddenly clicked.  

We have Bit-Coins, now we have Bit-Bars....  Why not?

LOL...  sorry for being so slow.... ;D

->  I guess 5 years ago if someone spoke openly on forums about such a concept called Bitcoin, they would have been ridiculed (and no doubt they were).  
     And today we post in forums about that same thing!

The current money supply is no where near 6600 BTB, see here: http://bitbar.info/stats/index.php

If difficulty keep going up, the reward will keep go down, to reach 6600 BTB, it'll probabaly be some time next year.

No worries friend!!! It's all about our own personal evolution . Thanks  ;D

Tell that to someone that made a fake graph showing that we would have 21mil BTB by midyear 2013. Lol.

4.49 BTB for sale, on BTER, cheapest yet,  .67 btc - 1 3.008 btc for the lot

Does anybody know the profitability compared to other coins? I've been mining these things for a few hours now and I have no idea if it's worth the time xD Thanks!

Let's see what the free market prices them at. At the current difficulty only 20 bitbars  are made a day across the entire network... will the price reflect that... check back in 48 hours to find out  8)

If you dont mind waiting, you can probably sell one for 2 BTC. Just dont be a rush or panic seller like the majority of people and you will be fine.

I just want people to really think about the future for a second before you sell your BTB. BitBar was designed to be as RARE as a physical GOLD BAR. BTB is a BAR of thousands of digital coins. Its not just a way of thinking. To mine 1 BTB could take a year . So there-for the price of a BTB could reflect a years worth of mining and payment. This is what you need to look at when you think about BitBar. i should not be telling you this. i should be buying up all you selling your BTB for nothing but i know that it is never good for one person to hold the sway of one commodity. I want us all to be well off with our digital investments. PLease think of the facts before selling your BTB .

700,000 USD made from nothing in 1 week... oh, you mean like Feathercoin?

The word "bars" is purely a marketing tactic. Just because there is less of it in comparison to BTC doesn't automatically make it more valuable. It just means it's less likely to be able to be impacted by pump and dumps and therefore be reasonably stable in it's price fluctuations

The sell prices are already coming down and there is now only a 0.07 variance so we're no doubt getting to the real initial market value now.

I've nothing against BitBar, hell I made 1.6 BTC by selling my mined coins (sorry I meant bars) some 24 hours after the release. Will you ever see 7 BTC : 1 BTB? Maybe, but it's too early tell and even if you do it's not likely to be any time soon.

How dumb do you have to be to think that a random altcoin should be valued in some direct comparison to BTC just because it's difficult to mine? Seriously people, use your brain.

I would....but I have to know how long it takes to mine a BTB. There's no mining calculator out there and the only pool doesn't even show stats -.-

yes people use your brains. there are transaction going on as we speak for 4-7 BTC per 1 BTB. Understand not everyone has your well being in mind . HOLD YOUR BitBars

Some retard is trying to dump the price by selling 0.01BTB in a row for lower price, haters gona hate even if they lose money :)

Can you produce solid evidence of this?

I will be holding on to the majority of my bitbars myself, but I don't think bitbars are to that point in trading (yet, possibly).

I saw that LOL.
Im holding mine too. Like i said, even if its 20BTC worth, thats not a big amount to me if I lose it by not selling.  ;D

Its not just a marketing ploy . in the digital world it is just as hard to mine a Bitbar as it is to mine a real world Gold Bar. It was only the logical evolution to crypto-currency .Not to mention BitBar has discouraged the creation of clone alt-coins to further saturate the crypto market

Dude stop pumpin your BS scamcoin already, if its so under-priced STFU and buy up the whole market.

agree 100% thank you for pointing this out

Holding mine as well... I'm not out to make a quick buck.

Yea, it's so hard to mine that 850 bitbars were mined in the first 30 minutes by around 3 people alone.

LOL

CrapBar: http://btb.cryptocoinexplorer.com/chain/BitBar?count=2016&hi=2015

no worries buddy dont buy BTB dont sell BTB go back to the alt-coin section and get back to mining thousands of worthless coins. My advise is for the people holding BTB . not for people who lacked the vision and did not  get involved in BTB. So go seek life elsewhere

LMAO - this is comedy...gold.

The only alt-coin is PPCoin - made a thread about this over a month ago as these ridiculous clonecoins started popping up: https://bitcointalk.org/index.php?topic=167848.0

I lol'd at this.

I'm loading my BTER account right now, can't afford the whole market...but I'll grab as much as I can right now...have you tried mining this?  I got about .25 in two days and I started day 2...it's getting harder already.

Yea? Which part specifically was so funny?

Oh...and in case you happen to want it...I'm willing to sell ONE BTB for TEN BTC...may be a little early for this price-point...but it won't be for long...people will wish they had when it's 100BTC :1 BTB

http://web-japan.org/nipponia/nipponia45/images/feature/11_02.jpg (http://web-japan.org/nipponia/nipponia45/images/feature/11_02.jpg)

I though this picture would be a good representation of the bitBar miners  ;D

Cheers

woulndt the network just collapse when there's no incentive left for miners? why would ppl mine btb with no reward and no transactions to get fees from?

I lol'd at this too. Obviously cannot read correctly.

The problem right now is that the BTB link on Bter is not public so mostly users that have BTB know about it and a very small amount of new users get to know about it. That's why there is more selling than buying going on. Personally i've never been a fan of alt-coins and only own BTC and LTC right now. But for BTB i see a future since it's a technologically advanced coin and not just another litecoin copy. I really like the thinking the devs have been doing with this. But time will show, let the free market decide it's value just like it does with BTC.

You know all that LOL'ing and I was started to think you might be high on something, but then I see feathercoin in your profile and thought, well no you cant buy jack with that.

That's the beauty of PPC based coins, as miners reach saturation point, and start leaving, rewards start coming back, so the network is nearly always at the optimum mining/price equilibrium. Just take a look at history of PPC mining and you'll get the idea.

I think we all need to stop this, market will make a price, EOD!

Also premined or not, its not like 5% is premined or the maker will dump it now, also early adopters always get the big premium, so what like the life is fair???

I got 700 YAC in 3h and now nothing thats almost 1BTC for notning, so is it my fault or?

Just bid over 0.5 and you'll be at the top of the list, no point paying over the odds unless you're desperate to buy up the market at any cost.

No kidding. Scam all the way to the bank for a few assholes, useless shitcoin scam for the rest.

Guys, I love Bitcoin but people tend to forget that the early adopters hold about 50% of it. I've heard alot of talk about how they fought to make it popular and that's true for some of them. But most of them just sat on their asses and let their computer mine a few years ago. Now they're millionaires and everyday we see how some of them manipulate the market on MtGox. With that said i still love Bitcoin, but if you're someone that doesn't want to get involved with something where the early adopters are hugely rewarded i don't understand what you're doing on a Bitcoin forum.

lol, Someone trying to rig the prices the other way now by initiating buy/sell orders in the 0.8 range to make it appear that it is the going rate. Are you buying from yourself Trucoin?  ;)

Volume is increasing, when I last looked it was in the 40s.

Complain, whine and troll. Go ahead. If you think I cannot buy anything with FeatherCoin, you're wrong. Hmmm, lets see, if i traded it for BitCoins right now on BTC-e, that comes out to about xxx BitCoins. If you cannot tell the difference between your post and a version of your post with bolded parts, you are the one that is high. So, let me tell you now since you cannot read and tell the difference.

"The only alt-coin is PPCoin" <---- I guess you were late and missed out on buying LTC then.  ;D

 i wont even consider selling my BTB for at least 5-12 months. if the price is going to reach were i think its going to go .people are going to hate them-selves for selling there BITBARS for peanuts. in The past it took a couple thousand BTC to make you a titan of cypto-currency . I feel in the near future  a couple   BTB will have the same effect NOTE: 2 BTB to make you financially well off

Yea because mining for years when no one knew wtf a cryptocurrency was is exactly the same as mining a clonecoin for a day, that has no benefit whatsoever other than enriching the few people in on the scheme.

The scarcity will keep the price high. NVC is worth nothing, yet in spite of this it's priced higher than LTC simply because there isn't as much supply. People who like to diversify will want some to keep on hand as insurance or to dump during rallies.



Pretty sure at this point given the number of people who inexplicably just jumped on BTB, the best way to mine for it is to mine for LTC> Trade for BTC> Trade for BTB.

Well obviously you didn't read the thread and are uneducated about my stance. I don't consider LTC an ALTERNATIVE coin because in the unlikely case where something dramatic might kill Bitcoin like some error in the code, and hence an alternative would need to step up, Litecoin would not be fit to operate either because its based on exactly the same code.

Yeah. Mincoin is similar in that regard too. And has a lot of haters. Seems like mincoin, nvc and bitbar have more in common than just scarce supply.

Does anyone else find themselves singing Don't Stop Believin' whenever Trucoin posts or is it just me?

http://sd.keepcalm-o-matic.co.uk/i/keep-calm-and-don-t-stop-believing-15.png

http://www.coinwarz.com/cryptocurrency (http://www.coinwarz.com/cryptocurrency)

People already know wtf crypto is since 2 years ago so get your fact right. And your argument seem like you are butthurt because someone mined before you a day.

That will last about another two seconds. Given that it takes nearly two days to get a payout and the one pool for it is wak, it might not be profitable by the time you can dump the coin. Especially after another 100 people jump on it.

The fact that Bitbar is mentioned in the same breath as Mincoin shows just how scammy, worthless, overhyped and doomed it is.

that may have been a mistake.. 0.63

Seeing this bar has only 0.15 reward per block.. i think its very undervalued... it will rise.. to around 2.5 btc per btb

the fact that the exchange has started to trade btbs unofficially is counterproductive for the price. no new buyers get attracted cause nobody learns about btbs, instead alot of miners/hoarders start selling.

Sure buddy, cause releasing a coin with a shitty reward system makes it REALLY valuable. DERP!

Agree, thats why this should have been keep private till public release

It's all part of the pre-mine mentality. Stock up on the pre-market!

the price so low

What happened to the forum over the last few hours? Did all the children just get home from school? It's unbelievable how immature some of the posts in here are.

We should really be talking facts, not listening to trolls, so let's talk facts:

1. Bitbar is essentially based on one core idea, extreme rarity. Extreme rarity/extreme scarcity has intrinsic benefits in that it's resistant to pump and dump schemes, and thus it's price will remain relatively stable. This makes it an ideal store of wealth. This also makes it significantly unique.
2. Bitbar incorporates ideas from Novacoin, namely POS and POW in combination. It was an offshoot of the fairnova project, aimed at introducing a coin with the good ideas of novacoin, without the 200,000 pre-mined coins by the dev.
3. The network hashrate is very strong and continuing to grow.

Now, if we want to talk about a fair price, let's do a comparison:

• You've got 18,859,022 ppcoins as of today, at a price of 0.00254 BTC/PPC.
• You've got 6,513,850 feathercoins as of today, at a price of 0.00202 BTC/FTC.
• You've got 387,261 novacoins as of today, at a price of 0.0311 BTC/NVC.
• Compare that to 2,786 bitbars as of today, at a price of 0.69 BTC/BTB.

This makes the total value of all PPcoins 47,901BTC, the total value of all feathercoins around 13,222BTC, and the total value of all novacoins around 12,043BTC. Currently, if we go by the exchange rate on bter.com (which is in beta and not open to the public), you've got a total value of all bitbars around 1,860BTC.

To me, that seems seriously undervalued. Once bitbar on bter.com becomes public and is added to the menu for it's regular users, once bitbar is added to websites such as coinchoose, and hopefully if more real users start looking at bitbar, considering it's strengths and benefits, and ignoring the trolls, we might see this currency continue it's slow and steady march towards adoption.

That's the thing the childish trolls need to understand, this is a long term plan, a long term cryptocurrency, designed to stick around and remain at a stable fair price (whatever that becomes). The fundamentals are sound (design and network hash), and I can see it being accepted (eventually) as a real player.

this coin has limited supply less than 2800 pieces in existance, so dont worry about price, most people keep their coin and dont want to sell at cheap rates, you can see the volume is very little is easy to "Pump n Dump" :)

That is why you hold and wait  :)

+1 . and dont you dare worry about pre-mined all the new alt-coins always got pre-mined branded on them. :)

一the. point is somebody ；pay close attention to the coin.is't?

PPC: 18859022 * 0.00254 = 47901BTC
FTC: 6513850 * 0.00202 = 13157BTC
NVC: 387261 * 0.0311 = 12043BTC

The contents of this tiny sample size clearly illustrate that comparing coins is a scholarly plan [/sarcasm]

I always have to just laugh at comparisons of coins. Coins don't compare, because they're all worthless! That said, I stocked up on bitbars because I think people are going to love the concept for about a month.

Actually, comparisons between coins can be made.

You can clearly see a pattern here even in this small sample.

PPCoin is considered a major coin, or at least a well established and well respected coin. Which is reflected in it's higher valuation.
FTC and NVC are both at about the same level in terms of their network and their public respect. They are both considered minor coins.

Bitbar will also be considered a minor coin if it isn't already. This would suggest that's it's price should reflect it's position. Though it hasn't got there yet, that's what the math says.

No.

Scarcity is not the only factor in value. I could by that logic create a coin where only 0.0000000000001 of a piece exists and it's worth $1 million dollars.

Then just f***ing do it.

To all the people who have no business aside from coming here to troll: Go trade a couple of thousand of YAC for BTC, cause I'm sure those have value.

Scarcity is valuable, because people think it is.

Yes.

I don't really like responding to glib criticisms, but, yes, by that logic alone, if you created a coin where only 0.0000000000001 existed, which was then distributed to thousands of people in even smaller increments, say 1/100,000ths of the above number, AND the network hashing power supported the cryptocurrency and allowed many transactions to occur quickly, AND it was supported on an exchange. Then yes, the price should reflect other similarly priced coins of that volume and distribution. Though the benefits of such a hypothetical coin would be non-existent at this point in time.
Bitbar services a niche and backs up that service with solid hash rate, solid support, and a solid concept.

http://www.geraldineclarkhellery.com/wp-content/uploads/2012/12/don__t_panic_and_carry_a_towel_by_ashique47-d3fu8qd.jpg
In addition to your towel...please sell some BTB...I'm trying to buy but there are no trades going on...where is everyone? 

Don't stop believing is right...scam or not...I'm profiting on this one...NOM NOM NOM...sell me more BTB...I'm considering selling/sending Casascius coins to buy more right now it's so damned cheap.

If there is two identical coins with only difference being one of them will have a maximum amount of 100M coins, and the other one will have maximum of 1M coins. Isn't it rather logical for the rare one to be more valuable?

+1

The resistance to high volume pump and dump in itself is a unique selling point!

How many bitbars will there be in total?  It's already trading at 0.8BTC  :o

Don't know in total, but currently 2805.

It's at the top of coinchoose. Hash rate has shot up to 843MH.

0.8 BTC seems pretty cheap because only 2805.697884 coins in existance and everyday more tough to mine it.

Its about 1:1 now.

Wow...

Those buy/sell orders sure did change in the last 8 hrs.

Sux for the guy who dumped yesterday @ .51

No it's not, someone just put up loads of micro buy transactions asking for 0.001 BTB to make it appear like that was what the going rate was. There's still a massive variance between what the sellers want for it and what the real buyers are prepared to pay for it.

I really wouldn't be concerned about the price. In the coming weeks it will rise up to a fairer value reflecting it's rarity. We'll see what happens if a second exchanges starts supporting it. Right now, it feels as though bitbar is the silent underdog that not too many people know about, and (thankfully), no one is scamming/pump and dump.

To people thinking that this is a competition and that one BTB can never cost more than one BTC:
How are you thinking? These are not physical bitbars. Just like you can't hold a bitcoin in your hand. They are just strings of numbers which we call what we want to. We could call 0.001 BTB a bitcake and say it's worth 0.1 BTC then you would agree because it's less than 1 BTC. Or we could call 1000 LTC a litebar and now suddenly it's worth more than 1 BTC. Doesn't it mean that it's overvalued then? Don't put too much thinking into how much 1 bitbar or 1 litecoin is and can be worth. Look at the marketcap of the coins and divide it by the future number of coins. Then try to make an educated guess of how much the marketcap can grow.
In my opinion, when you look at it that way BTB has a lot of room to grow. It really ticks me off when people are trying to bash coins but don't even know what they're talking about.

I like explanations like this. Thank you :)

Getting over 1BTC per 1BTB will be a major psychological milestone for this currency. I think it will be the first altcoin to cross it.

This has already occured privately, and when it does publicly then all bets are off.

I am very interested to see where this goes....

Lol @ Bitcake.....

Imo, bitbar will go the same way as all the other new alt coins lately: down as soon as they hit a major exchange.

It will rise because it's rare? Come on. It will drop, because even though it's rarer than other coins, some people have a lot and want to make a quick buck. (yes, yes, that's why most are here)

It's interesting that there are always coin believers with all kinds of stories about why THEIR coin should rise instead of the others.

No bashing, just look at CNC, FTC, BQC since they hit the exchange. Price hasn't skyrocketed.

The problem with most altcoins is that they are litecoin copies made in a few hours. I think BTB has a lot of thought behind it and that's why i'm willing to give it a chance. But we'll see where it goes.

Also, if an alt coin is innovative and good (and believers think this coin has its own purpose besides making a quick buck), why is being on a major exchange so important? Can't it exist on it's own? Why does it need to have a value in BTC/LTC whatever?  :)

disclaimer: I have 1 bitbar :)

Some people have a lot? You mean ~20? ~100? You call that a lot?

I'm just saying that although the idea of BTB might be fresh and good, you might be surprised what it'll do on a major exchange. (drop instead of rise)

Actually the prices of CNC and FTC DID skyrocket when they hit BTE-E, albeit briefly and in spectacular bubble fashion.

I don't think it would be a surprise if BTB lost some value initially. I think a few of us are taking the risk and going long with this one. If I lose out on a some BTC from the few I mined it certainly won't break me. And if it does take off, the upside could be substantial.

Like I've said before, doing the math, if bitbar follows other alts its value should be around 4-10BTC/BTB. Based on supply and hashrate.

That said, if it does get that high, it's going to take a while to get there. Which is fine, I like bitbars underdog status, it's flying under the radar of most of the scammers on here due to it's difficulty and rarity, and I think it's fundamentals are solid.

See, that is how I feel too.

Here Here!

If there were, lets say, a few hundred thousand in circulation I am sure it would have been through a few pump and dump cycles by now.
But those with the disposition to do that..... DO NOT HOLD ANY BITBARS!  ;D

I will be holding the ones I have for awhile. No need to sell. I believe bitbar can turn into something decent, especially once it runs through the psychological (and price) barrier at 1BTB:1BTC on the exchanges. I made enough decent money on Feathercoin and Chinacoin, hah!

YAC is another one to watch, especially if it keeps its CPU-only advantage (or if it goes to GPU and the GPUs aren't very much more efficient, as the author claims will be the case).

LOL. As if you would ever even reach a few hundred thousand in a year. Keep dumping for cheap and I'll keep buying them up for cheap. I don't mind. I did make a bit on CNC.

Speaking of psychological barriers...the word "bar" is shear genius.  People knocking this because it doesn't have infrastructure...I just laugh...Bitcoin's had 4 years...this has had what...4 days...and the roads have been paved by bitcoin...this is a hit waiting to happen...and the press coverage...oh the media...this will build hype for the whole community.

I'm going to pop some tags people...only 20 bars in my pocket...thanks for selling so cheap yesterday...mining only got me like 0.7, and I've been at it for four days before the network rate tripled!

I agree this could be a hit in the media once we get bitbar up to a certain adoption (i.e. on a few exchanges, stable/rising price that is higher per unit than BTC, etc). Journalists love a novel thing like that .... "Bitcoins expands into bars"

+1 +1
media would love that concept..

And for anything to be at parity with BTC in the first week is destined for widespread media attention. 

All alternative currencies will prosper from one bringing attention to them...don't knock the bar...it might get you paid...even if you don't have any!

I feel like BTB is like BTC's stock split...inadvertently.

Word. I was about to say, wait until media coverage spreads that there is an alternative cryptocurrency which isn't going for 40 cents a coin or 3 dollars a coin, but 70-90 dollars a coin. Will bring lots of attention for sure.

BitBar is like a crypto version of the Million Dollar Homepage, the first time it works, the second time it doesn't.  So the next very rare coin that comes along will do worse than bitbar.

BitBar Network Stats:
(Last updated: 2013-05-09 18:49:54 UTC/GMT)
Difficulty: 34.1247
Total block: 7001
Total money supply: 2825.779768
Last block reward: 0.141484
Network hash rate (Gh/s): 1.018 (estimated)

Lol...premine my ass...and even if they did...so what...buy their cheap coins when they sell...this has the potential to be one of the most expensive per unit "currencies" in existence.  I envy the miners that can pull 1-2 per day...damn I wish I had that kind of hashing power...though trading at these prices is almost just as good!

Look i telling you honestly what i think about BTB.
First of all , i like the system how its made behind the BTB. Its just like in the real world.
You have coins and you have gold bars.

BTC as coin and you can link BTB as Gold bars, people also wants to keep it simple and i think this
cryptocurrency is really just made and is connected with bitcoin.

But the current market will deside where it will goes. I think in the begin there will be no much interest in BTB. (But there will be a lot of people that will keep the coin in worth ( i think at least arround 0,20 - 0,50) Untill the real world will know about this cryptocurrency. (And i think it will ). I could remember that people already linked BTC as gold. And honestly i think BTB will be the one that can link as gold.

Bitbar is never made to replace bitcoin. Its the value what people see in it.
The system behind suprise me and is very fascinating

The mining pools are also give a realistic screen. And by the way.. a coin with a smaller capital is always more worth then the ones that have more.

First in, first out: that's the winner in this game.

You all know how it works,

Can anyone tell me how to look up the genesis block to verify the first date this coin started?

Also can you determine the total number of coins somewhere that isn't the bitbar explorer?  Is that number verified?  I quoted it earlier, but realized there could be manipulation in a website...I'd want to verify via the code/software.

I'm still believing...but I'm just curious why so many people think it was pre-mined so much.  How do I tell how many Coins (bars) are in circulation that is verifiable?

Well, from what I understand, websites like the block explorer
http://btb.cryptocoinexplorer.com/block/00000b31ed9623624683587882bbaeb5ab14b57a05cd2cd96983824d6a705929 (http://btb.cryptocoinexplorer.com/block/00000b31ed9623624683587882bbaeb5ab14b57a05cd2cd96983824d6a705929)
simply use the blocks that the client uses, so there would be no way to manipulate the numbers unless there was a change in the front end. Since most people use the open source ABE software, I don't see how that would be possible.

I believe it is just trolls that are claiming "pre-mine". It is well known that 60 BTBs were mined unintentionally early, and have been donated as a bounty for the first true BTB exchange. You can find the topic explaining that here on bitcointalk.

It's explanations like that that make it so much easier to...Don't Stop Believing!  DAMN YOU whoever put that up...been stuck in my head ever since.

So people are selling for .5 and .49 right now...lol...more coin moving...nom nom nom.

Yeah it either peaked right at launch, or supply will be exhausted and the price will rise. I'm leaning toward the latter.

Smart money is biding time at the moment, a long term vision is what's needed. The longer we wait, the more established bitbar becomes, and the better the network becomes. The more bitbar wallets and coins out there in different hands the better.

wow`The focus is on the price did not rise, can not be sustained profitability can not be cause for concern,

Smart money has long forgotten about bitbar and moved back to Litecoin/Bitcoin. People with pipe dreams are still holding on to their bars...

No kidding. BTB is dying and it is recklessness overvalued at even current crash-prices.

No part of that sentence is true.

Do you know what the problem is about new cryptocurrencies.

It is that new cryptocurrencies is always overrated in the begin , same what happend by feathercoin and chinacoin , then they combine that hashrate story  and let others and theirself believe that their cryptocurrency will be raise in price, but at the same time its dying as he ll .

It is not a suprise that a cryptocurrency always have their worth.( Because even FTC and CHN is still not dead)

But if you compare BTB with other crypto by the capital,function, and the price.. then you see that BTB is still stabile is now hanging arround the 0,32 worth, what is seems to me still very valueble.. Litecoin is now not even 0,03 , but Bitbars still worth arround 0,32 ( 25,26 EUR / 32/33 USD)  Still very valueble, I think that will also wake up other people, and let they think why exactly Bitbar is still 0,32 / 0,33 worth. It is still after the Bitcoin the most valueble cryptocurrency if you compare it with other crypto.

That people had pay more then 1 or even 2 BTC in the begin says enough how much people would pay for a bitbar. It is not that BTB lost  his worth, but is because people are nowadays very carefull in what for cryptocurrency they invest. It is only matter of time before BTB will be worther then 1 BTC and i know for sure.

It is not the people that make the coins worth, but because they believe in the Bitbar and i can say that the system behind Bitbar is very realistic and that is why i think this coin is a holder!

Agreed

Agreed 2.

Don't have idea where it will finish but I would definitely buy yesterday when it was around 0.1 if my funds weren't locked.

It was easy money opportunity.

it was... and i was sleeping :(

I bought in around .6  But I haven't sold any...and I don't plan to until they're 10+ BTC/BTB

I mean...Bitcoin has value...and this is the second most valuable already...and if only 1000 people want
some...the price will climb. 

We need this on Vircurex and BTC-E; then we'll see what a market exchange does to the price point.

I think people are wary of BTER if they haven't traded there before.  I jumped right in.

For those that think, this only benefits those at the top...look at bitcoin...a bunch of people benefited by
buying in or mining when it was still only 5 dollars a piece.

Call it a pipe dream, but I'll be able to afford some pretty sweet pipes because I decided to get some BTB early on.

If enough people adopt this, it could be worth 100 BTC a piece, a few years from now perhaps, but who knows.  I'd
say it's an incredibly strong contender, with ASIC resistant hashing algorithms for the hobbiest miner.

Get a client, post an address...there's a BTB giveaway going on right now on Bitcointalk... https://bitcointalk.org/index.php?topic=194324.0 (https://bitcointalk.org/index.php?topic=194324.0)

Only Trucoin, the one IMO that genuinely believed in the Bitbar concept had the courage to go all in at BTB's lonliest moment.

For that, I tip my hat.

Fortitude is numbers

All you believers, LTS 3.1 BTB's for btc or LTC pst, pst with offers.