Instamined by the devs just like any other coin, including BTC. The only 'relatively fair' coin is NVC, where the devs publicly destroyed their coins after a massive hate attack on the forums.
NVC was pre-mine, and only less than half of the pre-mine were publicly destroyed. I don't think insta-mine is as bad as pre-mine. Every coin has to start by rewarding early adopters, otherwise no one would help to promote it. If a coin start with sky high difficulty, it'll just be dead in the water with no one mining it. In the long term, the insta-mine portion is tiny compared to the total amount of coin that will be produced. You can think of the instamine as a bounty for early miners/adopters. |
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Some altcoins have utility. They derive value the same way Bitcoin does:
The ways of acquiring them, the people interested in doing so and economic activity taking place because and after it.
Litecoin had utility initially because its different hashing algorithm, which became more pronounced with the release of Bitcoin ASICs, it would never have gotten that far without that and only recently secondary economic activity started taking place. I don't see any other altcoin archiving that, except namecoin which derives it's utility by other means.
This not true, LTC copied the scrypt hashing algorithm from tenebrix, yet tenebrix failed. tenebrix was not a coin. It was inflationary, and it was pre-mined. Had it not been either of these things it probably would have succeeded. It lacked utility in a sense that the time till inflation would have negated the gargantuan pre-mine would have been many years. Fairbrix would have succeeded if it had protection against a 51% attack. Yes exactly, why did LTC not suffer 51% attack? because there were significant amount of support at launch, it maintained a very high hash rate. This is my point, LTC succeeded because there were a lot of people behind it, mining it, building services for it, and then attracts more people mining it. LTC didn't succeed because it was the first scrypt (it's not), or it has good dev team (it does not). LTC is successful because there are many supporters for it, right from the start. No other coin has nearly as many supporters at launch as LTC did. |
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Never mind the fact it takes about $4,000,000 to get a custom ASIC fabricated and, by the look of things, Tru has about $11 in the bank
This is completely untrue. ASICMiner got their asic designed and then fabricated for around 15k BTC, when BTC was at $10. So total of $150,000 investment is possible to obtain ASIC. Not sure where you got your $4m figure from. |
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Some altcoins have utility. They derive value the same way Bitcoin does:
The ways of acquiring them, the people interested in doing so and economic activity taking place because and after it.
Litecoin had utility initially because its different hashing algorithm, which became more pronounced with the release of Bitcoin ASICs, it would never have gotten that far without that and only recently secondary economic activity started taking place. I don't see any other altcoin archiving that, except namecoin which derives it's utility by other means.
This not true, LTC copied the scrypt hashing algorithm from tenebrix, yet tenebrix failed. |
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I recently saw a discussion where this was asked and apparently nobody knew the answer: What about these altcoins makes them worthy of investment? Please, enlighten me. I can crank out several per day.
To start with, how appropriate their title is. I'm asking about inherent value. Vaginacoin is about as inherently valuable as every other release on this forum. Well, after much observation, let me tell you what the answer is. For at least the first year, the most valuable feature of any altcoin is its development team. Most especially, the altcoin's lead developer. This is the only reason why Litecoin is succeeding where other altcoins have failed. Some people think that what you really need is good marketing, but they fail to see that good marketing comes naturally from a strong dev team. I'd be interested to see what everyone's thoughts on this are. Not true, Litecoin development team is very weak, mostly a copy pasta team (syncing Bitcoin changes to Litecoin), not a real development team, and also not as active as PPC development. Yet PPC is far less valuable than LTC. LTC is valuable because there are actually services for it, TPB accepts it, tons of traders on this forum accepts it, and there's ltcglobal (which means if you want to buy shares in BTCT.CO, you MUST buy LTC), and then there's atlantis. |
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The intrinsic value is its features and utility. This is why precious metals became currency for thousands of years, because it had features and utility that are good for being used as a currency, therefore gaining intrinsic value. Some thing that is rare does not equal to intrinsic value, for example a 800lb human is rare, but not really valuable.
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Why do you say hardware sales is a short-term opportunity? I would say it's the other way around. Income from mining will not go much above what it is currently, because of the 51% issue. Income from selling mining hardware is still far from saturated. People are bidding up USB miners to +$400 on eBay! The demand is huge and I think it would be a lot more profitable for shareholders if ASICMiner were to focus more on hardware sales now when there is such a large demand to satisfy. I agree with this. If AM were to focus on hardware sales and put forth some development and marketing towards that (outside of this forum), hardware sales would become the major revenue stream for AM. Just look at some of the competitors who haven't even delivered products. They've raked in plenty of money (and continue to do so). But, they actually have websites and sales departments and systems in place to make sales work well in a longer term context than forum auctions. IMO, AM should sell every single piece of hardware they can before competitors are able to deliver products. I agree. Just setting-up a professional-looking website, AM could sell astonishing quantities in pre-order for up to one year from here without problem, because their competitors look slower (to say the least  ) and because of the incredibly good reputation AM has (justified). I would imagine people canceling BFL order to jump on this. It would probably bankrupt BFL, because they can't possibly cover cancellations of their entire customer base. |
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burnside, there is a html problem with your main page right now. crypto-trades announcement isn't breaking soon enough before the trades list. It's all fucked up, basically..
yep, neotrix broke btct's front page, with his new announcement. lolol |
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low volatility is actually excellent for Bitcoin adoption, slow and steady rise is the best.
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usually they put something like 90% in cold wallet, and store 10% for daily operation. OR they put 100% in cold wallet, and use their own funds for daily operation, so if anything is stolen, it comes out of the pocket of exchange owners.
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Anyone else get double divs on the TAT PT?
A glitch in the payment system caused the dividend to go out twice. This coin did come from my pocket, so I ask that you please hold onto the extra amount for now. I am waiting on Burnside to decide the best way to resolve this. Please note that a snapshot of all accounts was taken, so we can separate who owned shares at the time. Please make this easy to resolve by sitting tight. Thank you! I believe the best way is just deduct them out of future dividends. No, this would not work because it would punish new shareholders and not affect anyone that sold their shares. Don't worry, I trust that Burnside will decide what's best! well the other option is deduct it back from the all the accounts that receive extra dividend, but you will probably end up losing some money, since there must be some people that sold and withdrew all already, after seeing double dividends. I guess with the 5% fee on the PT, you can afford it. |
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Anyone else get double divs on the TAT PT?
A glitch in the payment system caused the dividend to go out twice. This coin did come from my pocket, so I ask that you please hold onto the extra amount for now. I am waiting on Burnside to decide the best way to resolve this. Please note that a snapshot of all accounts was taken, so we can separate who owned shares at the time. Please make this easy to resolve by sitting tight. Thank you! I believe the best way is just lock trading for a week and deduct them out of future dividends. |
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A small correction, btcguild is 3% fee but pays orphans, so that's worth 1%. Bitminter is 1% but does not pay orphans, so bitminter is only about 1% cheaper in fees. Though the NMC is definite a big extra. |
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Can anyone do a PT to BTCT.CO?
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I have a friend of mine at the conference this weekend and he has been speaking to a few people who think a $5000 + bitcoin could be possible.
Thoughts ?
It's possible eventually, but I don't think until the next halving at least. |
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Wow. Recently options for moving money in and out of bitcoins have been shrinking. The opposite of what you would expect for an economy that is growing!
Luckily it just means more room for new entrepreneurs to get it right...
you mean moving funny money out of bitcoin (real money). |
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This is Bitcoin burtha  Pretty regular, I really doubt the fella who did this 'dump' had any sort of inside knowledge. And it's most likely just a normal movement in price due to normal reasons. Nothing to be alarmed about yep, $5 is nothing nowadays, would have been a big dump when Bitcoin was around $10 in the start of this year. |
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Any competition in exchange is good, especially from a well known company in the community.
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anyone know why PPC is dropping?
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A democracy is nothing more than mob rule, where 51 percent of the people may take away the rights of the other 49.
That's not how the us government works. The president isn't chosen by popular vote, and presidents have lost the popular vote and still won the election. Representatives and senators are voted in by localities and represent the interests of the individual states they serve (not 51% of the country). 51% of the votes in this country gets you nothing. That's a false argument. Maybe it would be better to say democracy in the US is tyranny of 70% against the 30% (70% of the votes basically guarantees that you'll win in any US election, period). |
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