Bitcoin Forum

9 months - 30 days a month - 3600 new coins a day

9*30*3600 = 972.000 new bitcoin since the last bubble. 8%
Bitcoin has an inflationrate twice as high as fiat right now.

It could very likely crash. Why?

Satoshi created the halving schedule according to society (give everybody time to get educated and buy in). He did NOT create bitcoin according to the nature of the internet, where information spreads within days and hours.

The last bubble was a reaction of the net. The information about bitcoin was spreading fast and people were buying. Well, now the inflation is too high and it will be for the next 2 years the same. Holding bitcoin doesn't make sense now.

I am personally holding unobtanium (uno) because that is halving every 208 days - much more according to the net. It is also designed in a way that it could take bitcoins place (sha256 - 3 minutes blocktime). Miners can switch over very easy. Max coins 250k, mined: 191k, mining schedule: 300 years, currently 30 new coins a day. After october 15 new coins a day. 4 and a half months later halving again.

May i ask why people hold on to an inflationary coin that was clearly not designed to be adopted by an internetpopulation?

Uno provides a real solution here. I am personally not holding btc because i know when it crashes below 300$ despite the paypal news it may very well crash back below 100$ in which case the fail will become obvious and people will switch over to unobtanium then because that is fit to be a currency aswell (fair start, good distribution, small and fast chain, well done, no premine, not greedy dev (he did it for free/donations) etc). Uno is basically bitcoin on steroids and will take its place in case of a totally failing bitcoin due to an shortsighted halving schedule.

It's not even a point of discussion if the bitcoin halving is flawed or not. It is. This is the internet. Can't halve only every 4 years. This shit will never get off the ground if it dumps now on paypal news. Just sayin'. Switch to Uno.
Bitcoin may very well decline until it halves in 2016. By then nobody will be interested anymore. Uno provides what an internetpopulation needs: fast halvings, low inflation, solid code.

I think paypal was considering processing UNO initially but then switched to BTC after they realized UNO was a piece of shit going nowhere.

the argumenative value is overwhleming. This wasn't primarily thought to be promo for uno but mainly a thread about why the inflation of btc is too high and what will happen when it fails because of that. Will people hold on to a coin with extreme inflation or will they wisen up and swith to something more sane?

Saying "xy is a shitcoin" is a comment like no comment, honestly.

Well, in the end it will be decided in the markets. I am just saying: bitcoins inflation is insanely high and the mining-schedule wasn't designed for an internetpopulation. The next best coin which solves the problem is uno, like it or not.

This is well in advance prepared article that is being posted at the right time to make despair and FUD. Congrats dumpers, different strategy instead of spammers.

paranoid? I wrote the thing from the top of my head 10 minutes ago. Just because i realized bitcoin could crash on paypal news - and the reason being inflation.

I see a lot of people being emotionally attached to their coins which isn't a good strategy at all.

Bitcoin first mover and all, but hey - that inflation wasn't designed for the internetpopulation and is really bullshit. Not trying to talk you out of your btc. Keep holding them. Inflation is still 10% a year.

I'm just busting your chops, but yeah I understand your point.

 I feel the dynamic is different in the sense people before would mine all these BTC coins and hold on to them but with the commercialization of mining, it's different now with the majority of miners dumping their coins ASAP. That puts a lot of downward price pressure on BTC. Who is buying up the $1.5M of coins dumped daily and will they continue to buy them?

exactly. Halving too slow. Too much pressure from miners. People would like to buy it and make profit, but they can't.

It is constant good news for btc. Now paypal. And that shit dumps more? Are you kidding me?

uno and btc swap places and the coin is 100k$ next year. Uno is that coin that can go up and up and up if it was adopted on large scale.

Crypto can be adopted. People are ready for it. But hey, fiat has less inflation.

Is bitcoin's inflation news to anyone? There will be max 21 000 000 bitcoins.

sure. But number of coins is not as interesting as the inflation. Doesn't matter if 93 billion doge, 250k uno or 21mil bitcoin. What matters is the inflationrate. And that is where bitcoin fails.

Don't take shit so personal. I am not trying to talk you out or into anything. I am just making the point that bitcoin halving schedule wasn't designed for the net.

Be prepared for complete failure in case btc dumps back below 200$ or even 100$

I mean, hello?! paypal. And it dumps more on those news?

Higher inflation than fiat. You can't sell that as digital gold, honestly.

I think the reality is that tigerdirect, newegg, paypal, etc actually aren't good news. I'm starting to look at them as more marketing gimmicks

If you trace the coins, it goes like this:
1) Miner has coins, goes on newegg and buys some computer part.
2) Newegg flips around and has to now sell those BTC immediately for USD on an exchange which just puts more sell pressure on BTC


Now imagine paypal with its transactions volume and you'll see that its putting even more downward pressure on BTC.

What we really need are entities that pay others in BTC. Like paying employees, etc. That would actually help the BTC cause.

Thanks, but No thank you. Not in playing mood..

https://ryanfernandes.files.wordpress.com/2010/03/uno.jpg

We have another troll gentlemen.

I'm giving you one chance to reverse that judgement. Post the technical specifics of your pumpcoin and why that makes it better than bitcoin. Go.

Yes, you shouldn't be able to actually use digital currency to buy something. NOW I GET IT! UNO is a lot better!  :-*

The UNO stuff is silly. I think altcoins mostly confuse the masses about what cryptocurrency really is.

Endless number of alts...infinite inflation  ;D

@cardsgame: lol. It is 'unobtanium' - cryptographic dreammaterial ... well, just the branding.

@specs:

first 2000 blocks 0.001 coins to come up
2000 - 102000 blocks: 1 coin
halving then every 100k blocks until hitting final reward of 0.0001 uno per block + transactionfees
blocktime 3 minutes (faster of course)

chain: smaller, solid
max coins: 250k
sha256
no premine or other bullshit. Community-managed. fair coin. No ripoff bullshit. Take a look for yourself. It's fit to be a currency.

main feature: minimal inflation, store of wealth, fair

what more to say?

gifs have also not the slightest argumentativ value

what we come down to is: bitcoin is with this inflation not a good store for wealth.

So the difference is the distribution rate, and more orphaned blocks. Not impressed.

Waiting for the part where you explain how, precisely, any of this is better than bitcoin.

blocks don't orphan. That is unheard of in uno. The main difference is the low inflation, yes. You can store wealth in it without having it inflated away.

Bitcoin is in the distribution phase. It is not a primary form of currency yet. It is not supposed to be yet. That comes later. Right now people are accumulating and speculating. Mainstream currency use is a long way off.

Additionally, bitcoin is ALSO a more used form of currency than uno.

Asking again and for the final time. What makes your pumpcoin technically better than bitcoin?

right. 10% inflation till 2016 and 5% till 2020. Wow, that's a long time to hold that bitcoin until it actually does what it should: protect against inflation.
So i guess, people who have adopted bitcoin already should unadopt it again until 2016 at least?

Of course widely used bitcoin, but so is doge, you know.

'pumpcoin' lol ... is bitcoin too.
Technically better is its ability to hold value.

Don't get me wrong. I love bitcoin too. But i hate that inflation, really.

I also don't even have to defend this or that coin or talk down this or that coin. I was starting a topic about inflation and if the halving schedule of btc was fit for the net.
Since i had the answer ready (yes, high inflation btc, no doubt) and the solution at hand (fair low inflation coin) i thought i could aswell ad it to the discussion.

What the hell does this mean?  "...wasn't designed for the net."  That's the most ambiguous statement I've heard in a long time.  Is this a race to the inflation bottom?  How about less inflation?  No inflation?  Negative inflation? Uno has less inflation, congrats.  It also has a market cap in the hundreds of thousands and is accepted by whom?  You fail to realize that Bitcoin is the clear winner.  Whether the network affects will overtake the temporal bitcoin inflation in the short term is a discussion to be had, but the logical leap fantasy of Uno as the answer is amusing.

Aand back on ignore.

ok, forget the uno part for a second.

When will it be that the adoption overtakes the inflation? I mean paypal is integrating it. What more adoption could you ask for? If it keeps declining for more months i would really start having doubts.

when i say 'wasn't designed for the net' the argument is that information (about crypto) spreads fast, but the inflation was not designed for that. The inflationrate was designed for an adoption over decades. But the net is quicker than that. Sure, maybe in 10 years my grandma finally also can use bitcoin but by then a lot of people will have lost interest or switched to lower inflation alt.
We can't wait for the very last one without risking a fail of the whole operation if you ask me. We'll see how bitcoin does until halving in 2 years. I won't be touching it if it drops below 100$ or at least not accumulating. You can daytrade that. It's not good for saving money into or holding longterm.

The story is there on Unobtanium's 365-day chart: it's stable; it's established.

And this arena has recently resounded with concerns about too many coins coming into play: Uno is flat-out rare.

Its community is the most coherent and disciplined that I have ever experienced.

Mark, Australia

bitcoin is good for daytrading, but not to hold large amounts for long time. Hold during rise, but be prepared for long and painful bearmarkets.

If you are a net-citizen living in information age and using the net every day used to process information fast and on top of tech, why hold an inflating coin? Bitcoin is for the masses, yes. But they'll take another 10 years to arrive. In the meantime one can store money in a coin that doesn't inflate as heavily is what i think and do.

My personal opinion is sooner than you would think.  It's been 24 hours.  These things take time.  We are seeing a divergence between news and price, not an uncommon phenomenon in the world of stocks.  Markets are not rational that often.  Forget the price for a moment, and think back over the last year, what do the developments, announcements, etc for Bitcoin have in common?  Is Bitcoin dying or growing?

So, bitcoin's adoption rate is smaller than inflation?

guys, i really hope bitcoin gets its act together during next weeks and adoption picks up. Otherwise bad news.
Lots of people who adopted early could leave again.

It's time for a bullmarket. If that doesn't come people will leave, bitcoin can crash. Less inflating coin like uno provides a solution in case of slow adoption in case general population isn't impressed with paypal.
In any case uno is a good store of wealth. Isn't so depandant on adoption. Can hold it's value, it has proven that.

If bitcoin crashes hard. Dump it in uno. Better idea than taking a loss in a crash that will be caused mainly by inflation.

Bitcoin has crashed in the past, multiple times, even worse than what we are dealing with now.  It will happen again even after we emerge from this until the market cap rises to a level where it won't.  For every seller there is a buyer.

maybe not. Maybe the price is too high. People buying it and adopting it, but they make a loss with it because of high price combined with inflation.
Saying: adoption is faster than what satoshi thought.
You get a bubble (internet spreading info fast, people adopt), price is high and the adoption drops off and inflation kills the price. Cycle repeat. Why torture people like that?

Adoption would be way faster if there was profit in it. Where is the reason to have high inflation? Latecomers are latecomers. The ones adopting first are rewarded and don't have to have so much pain during times of lower adoption. Bitcoin has a hard time to recover from those crashes each time.

having that inflation to punish the early adopters and accomodate the latecommers, where is the sense in that?

High volatility, oh boy.

The high inflation does benefit nobody really. Not even the latecomers. Because it is just eroding value nothing else. Where does that help latecomers? It is even bad for adoption.

UNO's total hashrate is so low that 51% attack could be made really really easily. Even, I could do it.

that should change.

I love it when holders of alts pump their alt as the one and only solution to everything.

You know there is a reason why there exist what feels like a bazillion altcoins these days.
Very few coins bring true innovation. It is mostly about users wanting to get rich.

You can babble on about community and fairness all you want, the reality is you hold these coins because you want them to go up to profit, not because you want to buy bedsheets at overstock

I've read all the posts. There's such a strong undercurrent of 'zero sum' -- Bitcoin or Unobtanium. Unobtanium bills itself as a commodity (as V500 repeatedly states, 'a store of wealth.') It has fewer features than many coins. Its market-cap is a tiny fraction of Bitcoin's, so it is accepted in fewer places than Bitcoin.

But it was designed for a specific task, and it performs that task superlatively well . In fact, it performs that task so well that the 'problem' we Uno guys have is that we all end up sitting at the kitchen table, dutifully discussing how we need to raise volume because crypto folk are so (reasonably, in most cases) focussed on volume, and this weird thing happens: no one wants to sell their Uno. It's rare as hen's teeth. It's gettin' rarer by the day. Demand for the coin is strong and constant.

People own and hold cryptos for various purposes; and if you think that it is reasonable to 'temper' your portfolio with, say, 10% of a coin that holds it value well, and will continue to do so, then . . . Unobtanium.

Mark (IndiaMkeZulu), Australia

right. It is not uno or bitcoin. It is of course both. Bitcoin for the masses, when they arrive. In the meantime uno is good for those that are already around and want something with a lower inflation. Well, maybe i was a bit over the top to kick it off, lol.

Well, guys, check it out. Doesn't hurt. 10% portofolio in uno keeps the skin fresh ;)

'store of wealth' not more, not less. It does what it says on the package. And it's clean.

Same arguments over and over again:

-high inflation -> devaluation
-miners dumping their coins on the market -> sell pressure
-vendors dumping coins immediately for fiat -> sell pressure
-danger of 51% attack
-energy waste because of pow
-very big holders who could dump every moment

Did i forget something?


The funny part is, if you would read threads from 1 or 2 years ago, you would read exactly the same arguments.

Think about it.

I was reading the post seriously until I got to the unobtainium part.
I was already preparing to make the classic counterargument that the dollar supply has also inflated about a trillion (through debt) in the same time...

... and then bam! You pump your altcoin.

What a waste of my time.

Oh fuck off.

No... Just fuck off.

I'm skeptical about altcoins in principle, but reserve to keep an open mind in case there's an interesting niche demand that appears to be served well by some alt.

That said, "unobtainium" (wow. much name. such clever.) must be the least inspired attempt at alt creation I've seen in quite a while. Basically, Litecoin, but with lower inflation - yeah, that looks like a real Bitcoin killer...

Seriously though, I strongly suggest you get out of it. Some alts, with a very well defined profile and a competent dev team, might make sense. Unobtainium doesn't.

Low inflation with steady price means that nobody is buying. What uno performs well at is being uninteresting.

So summary of this thread: OP is spamming yet another shitty altcoin. This is against Speculation board rules, mods please remove.

Yep this. Don't even want to argue with flawed logic which misses the major part - that any coin needs inflation time issuing new coins to support the network while services are being built before transactional revenues kick in, and the OP thinks that since "it's internet" everything with his shitcoin will just magically appear out of thin air in 2 years, probably created by a group of altruistic billionaires :)

agree on bitcoin halving too slow for this time and age. Must have been created by an old man. It's pretty obvious now how badly it is flawed with 10% inflation far into the adoption-time. Bitcoin halving quicker would have been better for stability aswell. Gradual rewarddecrease like 1% every now and then would have been ideal. Halving in 4 year intervals is just slopy planning. 4 years halving is too long. Uno or not: another coin with less inflation and less volatility will come to help bitcoin, no doubt.
Hold some quark too. XPM has potential too once pumped to the sky. Even litecoin could be better since it halves sooner. Everything is better than inflating bitcoin right now.
It is shocking how even paypal doesn't have a positive effect. Panic-selloff in bitcoin will come pretty sure. It'll crash and burn. Alts that can hold value will take over.
If bitcoin crashes hard now, it will just be another altcoin - the one with the most butthurt community.

Bitcoin is a coin for miners to cash out on the noobs.

Be prepared for panic now drop to 200$ slide to 100$ - long stagnation and decline back to 50$ and lower. Even Doge is a serious threat to bitcoin now.
If we see a panic in bitcoin doge will take over as the first coin of all of them. Others will follow.
Bitcoin will still be Top 10 for some time. I am not the only one seeing it, but the cult-followers can't see it.



not even the same algo. You are talking out of your ass obviously. Seen you in monero-thrad. That's a shitty pumpcoin, oh boy.

Bitcoin has a high inflation rate for a reason. Without it miners would have very little motivation to keep pushing up the hashrate. With low hashrate it's much easier to double spend or otherwise overpower the consensus mechanism. If UNO hasn't been attacked yet it's because it's not valuable enough to be worth the effort.

Good to see somebody with a brain here for a change! Most trolls here think that you just need to make a dumbcoin which completely mines in five days, and then support it with a single desktop GPU to compete with bitcoin. Fact is, bitcoin is here for five years and hashrate *still* grows exponentially meaning it's network is nowhere near completion