Bitcoin Forum

Given the fact that not all coins are created equal, some things must be done to level out the playing field. Hence the idea of using crypto currency/coins as more or less stocks of that business entity, project, etc etc.. Any thoughts or ideas on this would be certainly appreciated. Thanks again.

I guess most of the concepts with the intervention and use of crypto has already been proposed by most projects. From donation, to rewards, to utilities and other stuff that I can imagine, most of them have already been told.

I think if you're wanting to make a project and thinking of a concept, find a problem that will really solve it and having a real and actual use case. Nothing new right? it's just about the authenticity of the project.

With ATMs in myanmar being shut down. And concerns over deplatforming and similar practices on the rise. There could be a future demand for reliable and secure peer to peer based financial transactions. As backups or plan Bs in case bitcoin ever goes down or is compromised in some way.

Perhaps a social media platform built around a barter system, in the event of worse case scenarios? Natural disasters appear to be on the rise. Could it be helpful to have an emergency internet based barter system for regions where electricity becomes limited after natural disasters strike?

Coming up with ideas isn't hard. There are always opportunities for solving common problems shared by all.

I'm not sure I understood your point correctly. But had coins been minted based on that which backs it up like gold in the old days, all of them would have been equal. The problem is that it is now based on debt. Various governments are now indiscriminately printing money out of thin air and so their debts are ballooning. But debts to whom? Also to themselves. I don't know how this appears to others but it is a joke to me.

Anyway, what do you exactly mean by "the idea of using crypto currency/coins as more or less stocks of that business entity, project, etc etc..?" As far as businesses are concerned, their value is based on something more or less solid. They got their value not in the same way as central banks got their bases on creating unlimited money.

mined coins actually factor in mining costs as the base value
think about it
if it didnt cost $900+ to mine gold. prices would not be above $1k
if it cost only $2 (dinner spoon and a coffee filter) to mine gold from home. everyone would sell for $3.

yes speculation and sentiment adds on top to form the final price. but the base value of cost is a factor of the minimum the price will ever be.

different altcoins mined have different values and you can gauge the %difference if you calculate the cost of each.. and then looking at the price of each you can see which ones are speculatively bubbled up with too much sentiment. or which ones are at the bottom value.

..
when it comes to ICO that just premine all circulation limit and just hand out coins like confetti
trying to judge the true base value is harder. you have to look at things like their employee costs and operational costs. this is hard because most ICO dont even release this info clearly/regularly/at all
the only possible metric of value is what i call the ponzi value.
if coins were bought for $3.. people wont sell for less. as they would be losers
so if you can look at transactions and coin movements and price them at at time of trade. you can gain an insight into their min price sentiment of willing to sell for.
EG if 90% were bought at $3.10 and 10% were bought at original ICO of $3
then the majority sentiment would have a good support wall of a $3.10 base value

ofcourse if you can get some business finances info. then if a business is valued at say $63m and there are 21m coins that also holds weight of a $3 a coin sentiment.
if the business grows 2x in its product launch/expanding business. then slowly traders will buy up to the $6 sentiment. however if the coin price moved to $6 with only 10% of holders. then the base value majority is still at $3.10 base value with a 90% chance of a dip
where as if 90% pushed it to $6.. then only a 10% chance of a dip.

so coins. whether mined/premined-ICO has got its own way innately and naturally of levelling the playing field

you just have to know what to look for to know its true majority bottomline value..
then if its price is near true bottomline value or inflated by speculation/sentiment
then people just buy at whats deemed value sell at the inflate (buy low-sell high)

I like new coins or altcoins where the projects have a solid team, support from both investors and their community, as well as the continuous growth of their ecosystem. Because with these elements they provide security when investing.

It is true that the crypto market has so many coins that sometimes it is impossible to choose, do your own research, join the communities, choose the new projects that have successfully passed their launch, explore on sites such as Coingecko, CoinMarketCap, Binance and other platforms of reputable exchange.

Better the businesses exist as Decentralized Applications on Cryptocurrency Networks, and create their own tokens for such things.
A cryptocurrency should be the currency of Decentralized Network/System, more like how fiat currencies are to Nations.

I'm not sure that I have pure and clear understanding of your thought flow. True that cryptocurrency go with process that fuse it with blockchain but I don't know if we can say they are the same with the different solution they bring and that means they may not have same playing field because bitcoin and doge coin in example are not same and have not been solving same challenges, therefore not same as one is considered superior to the other which reflects in their prices and volume. The concept is then on the solution.

The playing field does not need to be leveled.
I do believe in  survival of the fittest. More like the biological Darwin's theory, it works in most aspects of life and one should understand the fact that even though one coin might dominate the market right now there is no security that it will do the same in the future but rather at the end of the day we do need a lot of forks , not hard forks ofcourse but honestly soft ones to make sure that it is able to tolerate the new technology.

Plus leveling out the playing filed sounds weird since I do not keep Bitcoins and other fiat in the same field , they might coexist but at the same time it is not 🚫 needed plus one should not take them as completion.

That's why I have moved all my money to decentralized ones so far, not the money that I had in other cryptos because I do not like selling, I keep holding coins, but all my money that I invest for the past two months or so and in the future will be going to decentralized projects, that feels a lot more comfortable and weirdly enough they have made me a lot of money as well, if this keeps up 10 more months I will be making more money from decentralized projects than all the money I made in the past 8 years of crypto, that is going to be awesome, don't know how long the bull run will last but I really hope it lasts at least 10 more months for me to actually have a quite good amount of money in the end that could change my life, if this type of life continues for 10 more months I will literally be swimming in profits and would be able to live a much better life.

Yes it is really given that not all altcoins are created equally to each other or they are related to each other. But there are some cryptocurrencies that the same have blockchain where they are available to transactions with. And if we try to invest in a cryptocurrency, we must still consider the total supply of a token, so that we can conclude if it is worth it for a long term investments.

Most coins are very different to others. They dont play on the same playfield. So there is no need to level out playing field. Some coin were mead like this fro that and others were made like that for this. Coinmarketcap ranking them by marketcap is bad since they are so different that they cant be compared. On a plying field or Bitcoin, ranked second is Litecoin, Ranked third is Doge and ranked 4th is Monero. These 4 coins were crated same and have same use case. And this is how they would be ranked by marketcap. Comparing some other coin with them is silly. Since was differently created or have different use cases.

I partially agree with this.
Even though all those ideas have already been done, they could be done in a higher quality.

For example, wallets are still hard to use.

Everyone bashes blockchain.com here (because they are very insecure) , but they are also the easier to use wallet in the market.
We lack basic things, like easy to use and safe wallets, easy to use payment utilities and so on.

But as we noticed, even if there are many similar projects, only few of them can actually deliver their objectives.
This is why, a lot seemed to be just copy-paste of others, because, not many projects can truly achieve success with their chosen field.
A lot of them are just chasing for the exchanges to list with, and once traders got tired, their coin slowly dies.
And we are not hearing the use case that they want to implement. Sadly, that's the case of most projects.
So it is still better to have competition in the market, as they will strive to be the best on their business, which is good for the users.

Yeah, this is the reason almost all Jack and Joe are coming up with new coin/tokens these days because they just need some idea which can be derived from existing coins as well but eventually most of them ending up as a well planned scam. Yeah, new concepts are available everywhere but not dedicated and honest people.

Even some good marketing itself more than enough to level out. Yes, you may copy an existing concept yet if you focus on marketing by convincing the targeted people then there are plenty of chances for you to hit what you want.

I don't believe most of the concept that have to do with crypto has already been proposed by most projects if we actually look around us, what's the world is going through and create a solution to peoples problem a new idea will break out.

It no denying that Jack and Joe emulate others idea but I won't consider it as solving problems or coming with ideas.

Blockchain has a lot to offer and there's a lot of good options right now in the market.

Some are still innovating and some are just copying the old project and doing better, because the idea of the old concept is still good and they just need to develop it well right away.

This is why many new projects are just like the old project, but this time they offer the best solutions that can be a big help in this market. Old project will provably fail if they stopped innovating, competitions is very active in this market, and they can't afford to stop growing.

For a long time I began to look for a solution to the problem of preserving any existing financial assets in a decentralized cryptocurrency. When creating this project, I did not initially set myself the task of repeating BITCOIN or something similar. I hiccuped solutions to preserve financial assets in cryptocurrencies. If you carefully consider the proposal of my project, then perhaps this will be one of the many solutions to this problem.
https://bitcointalk.org/index.php?topic=5267705.msg54966182#msg54966182

This is what already happens. Coins trade freely based on utility and speculation of future worth. Those with high utility or high expected demand rise in price, and the worthless coins stay worthless.

This.  There are several inherent dangers in presenting arguments against competition, as the OP has.  That's a slippery slope.

Competition is vital, because it keeps the market honest.  If you attempt to suppress a free and open market, creating an environment where coins were equal and nothing operates on merit, that environment could then, in turn, be manipulated to someone's benefit.  It would make collusion and rigging far easier. 

Competition breeds innovation.  All coins have to adapt to stay relevant.  That's inescapable.  Taking that away would simply result in complacency.  No one would be trying to push the envelope and break new ground.  Technologies would become stale and the industry as a whole could stagnate.

Competition is also important as it means niches within the market can be served.  As good as Bitcoin is, it can't do everything.  The market needs to be able to arrive at its own decisions.  It doesn't help to kneecap coins in a misguided attempt to create fairness where it doesn't belong.

The idea of a fair distribution of wealth, equality among individuals, adequate income, poverty, minimum unemployment are all concepts that some try to explain, but unless there is a good education we will be really far from achieving it.
Bitcoin did not come for equality or redistribution of wealth, but rather a solution to the problem of inflation and the random print a lot of money, which must be stopped or that people use alternative systems.

if people don't get it they will end poor even have 50 Bitcoin.

You are right, there are more than enough problems in cryptocurrency and the solution of at least one real scenario would make the cryptocurrency a more reliable financial asset, which would allow you to place your funds without risk of loss bypassing traditional banks. Here is an example of one such scenario.
http://prosh.info/smartcontract.html

Most of the ideas related to cryptocurrency projects are almost the same, thousands of similar projects are presented annually, but only a few of them succeed, I think the reason is the difference in the way to solve the problem when you present solutions to the problem with a new and different vision from the rest of the projects, so it is certain that your project will meet with success. You must look for excellence and offer solutions that no one else has ever presented before.

You are right, there is no such way of solving the problem of saving and crediting in any other project, and if you read it, you will understand why this is so.
Extract from the project- http://prosh.info/smartcontract.html

  Imagine a bank in which you place your financial assets in the form of an ETH deposit not on the general bank account, but in your cell, while issuing smart contract tokens (shares of a cryptobank) and become its co-owner. Your ETH is kept in your cell in the bank and is accounted for in the total authorized capital of the cryptobank.