moneys not in retail. Ebay/Amazon, would not benefit BTC much inmho
It wouldn't benefit BTC? Are you nuts? Bitcoin is a currency, what good is it if we can't even buy things at two of the largest online retailers? retail, is a small part of the economy, ebay and amazon sell alot of plascraptic deprecating assets. Real money is in financial instruments, forex, appreciating assets etc. what does anyone even buy from ebay/amazon that is so essential? Forex in one day is near 3 Trillion. That's more than ebay+amazon+ whoever else you want to put in, in a day. ebay is worth what...6000 houses in a decent metro area, soo can house 18000 - 24000 people. That's not that much. |
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satoshis
people are already using satoshis, lets go straight to that, its pretty common now, Doge User base complete familiar with satoshis .
Satoshis now,
it differentiates,
cements the BTC history in,
set BTC as the bar,
works nicely to 1satoshi = 1 cent
feels good to own 10K satoshi
saves this argument at mbit , ubit etc
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Compairing the price paid by BTC and MSC Backers of Maidsafe IPO I find Out this:  I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period. so the only way now for MS to fix this is give away enough MS to make this equal, else its probably not going to float well. They need to desam and fast.
One way would be to send a % of BTC back to the BTC addresses to make equal to MSC. Lets see how legit they are.This would likely raise the MS value by quite a lot and thus help the whole project |
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moneys not in retail. Ebay/Amazon, would not benefit BTC much inmho
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If you purchased Berkshire Hathaway stock in 1980 you would have paid $200 for a share. This stock is now worth $192,000 per share. Yet it took 34 years to get there. See this: http://finance.yahoo.com/echarts?s=BRK-A+Interactive#symbol=BRK-A;range=1dClick "Max" for the range. From March 1981 to Aug 1982 it didn't move a penny. Sat at about $500 for the entire year.From October 1984 to October 1985 it didn't move a penny. Sat at $1300 for the entire year.Those of us annoyed by the lack of price increases lately - need to get some perspective. $200,000 is a possibility. But 1 year with no price increase is perfectly in line with "how things play out" sometimes ... -B- Berkshire Hathaway, stock in a stock market. Not currency/money istlef. BTC is and CC's are going to make BH look like a basket case. "Those of us annoyed by the lack of price increases lately" can't use log graphs and don't know what a s-adoption curve is. BH was never subject to almost universal commentary by every central bank plus, an alphabet soup of other agencies, nor had leading powers issue various dictums about it, if that gives you any idea of the magnitude of BTC. Nothing even close to BTC has existed in history. BTC is almost a new thinking entity, its kinda close to a wetware agents/silicon data/backend, all working to/because they decrease S [entropy = inefficient systems] and so agents can accrue more E to themsleves. That's why its more or less a fait accompli One wonders about ethierium, or nxt going the next step or something on BTC. |
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BTC exchanges set up in HK.
HK <=> MAINLAND RMB very porous basically infinite
Problem solved
and that's just stage one.
There is to much money to be earned by exchanges now that this will happen
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How many of you work things out in BTC, eg, when you look at say the cost of something you think hm....0.2 BTC.
Despite the USD volatility vs BTC, I find more and more I think in BTC price and like many usually roughly know the spot price.
I haven't quite got into mBits yet but I will when it get back to 1K +
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NXT has a lot of innovative stuff coming out....yet the price just drops like a stone....right or wrong the inital IPO is killing NXT
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when you think about the health benefits of using crypto are likely large. Eg not handing round all the germs on FIAT to everyone....!
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PeerCoin is quite a nice coin, and is actually very good for using to do payments. But this coin got covered with a layer of dust because of the newer coins that have been released nowadays.
hmm not so much. Look at the forum, almost all posts get 3.000 views. The pow+pos gives it good distribution, it has some serious dev going on. see: PeerUnity Peershares It's collecting dust the same way "gold" collects dust as long term storage of wealth |
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you need to include coin destruction as well eg peercoin destroys coins per transaction. This effects overall inflation and coin dynamics
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even though our 0.2 figure for MSC was also clearly wrong in hindsight.
how could you not see this up front, the market rate was open. this is a brand new space, there will be more mistakes by other projects, we need to support and help as well as critique when necessary. We learn by understanding our own mistakes and we progress by helping others.
Arbitrage is not a brand new *space*. It has been going on for 1000's of years. You clearly set up an arbitrage system. I think it's amazing we were seen as some kind of pump and dump (not by you). We ended up with less liquidity when we need it to get the community developer teams up and running. The Master Protocol guys certainly did not want us to end up with a huge portion of MSC either as that is not great for them. So we made a mistake we never seen the rush come, but we paid for it by sacrificing approx $2-3.5 million in liquidity, but it was a stance we felt was fair on the community, our own concerns were secondary at that time. This does not count the fact the whole thing went for the 40% bonus rate, we (when I say we I mean the community not MaidSafe, it's the community that gets most of the funds we raised if we get it right) paid the price for our mistake in that way for sure. We can partially repay the wider community and we will by holding a meeting with all parties on Monday evening to figure out the mistakes, the good parts and how others can benefit, this will all be made public and hide nothing (as usual).
Why would we want loads of MSC and less BTC, people need to ask themselves this question, all our staff went full in BTC so it would make no sense at all.
It makes sense from one angle. Cui bono? Those with large amounts of MSC and no liquidity to dump, exit into MS, or use MS as a proxy back to BTC. I expect some one with a large amount of MSC has some sort of arrangement with MS or has some type of interest. The sale was amazing, we have several thousand buyers who are now part of making this all happen and now we have to work very hard to make sure they are all rewarded with a new Internet and an incredible currency. It's a humbling thing to see that level of support for a project, as a community we need to be very honest critical and brave. The huge majority are of the same opinion and that's amazing. We do need to clear up the messaging and everyone is very welcome to watch our meetings, read our emails (they are public at the dev list) and hopefully meet us at a show soon. Nothing like a meeting in person I think.
so thanks for your support and we will not let you down.
Amazing in *many* respects. Given the time involved this could not have been possibly missed or *buy* accident. I would like to see some hard maths to show the BTC holders ended up with the equivalent market rate as MSC holders. That is the only optimal solution open to MS and that door is fast closing. The 40% more goes some way, but how far? No numerical example of why 40% is correct. This should be relatively simple to do. Take the MSC rate pre 0.2 or whatever it ramped up to and use that. I am not saying the coin/concept is a scam. The idea is good inmho. However the circumstances make it look like someone worked really hard to take the oxygen out of the room. I also note the poster adjacent to this was just deleted. Yes it was a bit harsh. It is dangerous to censor though in such circumstancesmy error self deleted |
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How many SafeCoins were bought with MSC? Not much right? The sellers don't have exactly the biggest stash...?
I am not aware of the exact figure... but somehow I am convinced that the majority of those selling these past couple of days are within that group... maybe this below might help you come up with an exact figure...  This is what we have done, it reduces the back office steps, ensures BTC backers are looked after and not squeezed out. MSC backers got in at almost equal footing as BTC (almost 50% / 50%) and we all win. The BTC goes ahead and the MSC people got in fast and made their purchase.
In my opinion they should award extra safecoin to the Bitcoin backers to compensate. I honestly wouldn't have bought the safecoins if I knew a huge chunk of people were buying them for cheaper, due to the scenario that is playing out now. I'm not worried long term as I believe strongly the price will go up a lot. But still, doesn't seem fair to me. Your are completely right. The out of market valuation they gave to MSC at the time, means they should now give the reciprocal of that to BTC holders. That's the only way to clear this mess up. They went against the market and garnered themself a scamed tag. What we are seeing here are MSC holders unwinding thier MS coins back to BTC so this is the reverse of the run up in MSC. By giving out the MS to BTC holders is the only way to clear 90% of this up |
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PeerCoin is so far ahead in its area, backbone currency. It will be $100 within 2 years at the lower end. I expect it could overtake BTC in the long term as it is aimed at Big money.
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Just finished reading through this thread. This is the most important and concise post:
Good read Bitcoin is a forgone conclusion at this point, and even if not bitcoin, crypto currency being the dominant medium of exchange. Fiat by central govs simply cannot compete on any level. Central Govs are so inefficient its hard to know where to start. The reason being [the power to] tax. This power and enforcing it, makes the preservation of self the central function of Govt under layered under the guise of much on the doctrine of public good, eg roads schools/education, police force etc. The power to tax is dealt a near fatal blow by BTC as tax jurisdiction and legal jurisdictions will be arbitraged to near zero by almost instant capital flight of Cryptos. But this is not the most powerful aspect of cryptos. Rather Crypto's allow niche provision of goods services in a mass production way, further there is no off or on for the Bitcoin "work force". The economies of scale achieved by are far more nuance, powerful and encompassing that the crude budget, interest rate, bond issuance, QE, etc etc. Fiat simply can't compete with the ways BTC can flow in and out of opportunity. If you remember the last scene in the first total recall movie, the current economy is like us dying out on mars with nothing breathe or in the subsections of society where they can turn the air of at will. BTC has just given air to everyone, en~masse. The path to uptake may face serious resistance. Yes the internet took media which is powerful, but it not he same as money. Money is power, by tax and qe, and those in power [not you] are not only accustomed to it but that's their only conduit to means to live, that's all they can do. Fortunately the war was over before the first shot was fired becuase ... maths. No amount of power changes maths. Crypto is maths. |
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In my capacity of lead Nxt developer, I can assure you that no core Nxt developer is supporting the scamcoin called NAS.
NAS is a pump and dump coin. It has nothing new to offer. Even calling it a clone or fork would be a compliment they don't deserve, because it is not, it is a quick and dirty copy and paste job. And believe me, it is dirty - I actually took the time to look at the source, out of curiosity what they did with my code.
NAS have taken a test version of the new Nxt UI, developed by Wesley, which was not yet ready for production use - but they don't care, it is a get rich quick scheme, nevermind that it is other people's money this software is supposed to handle. They have also based their release on a Nxt version with a known critical vulnerability, which was fixed in Nxt long ago.
The NAS marketing guys are aggressively trying to bribe various people in the Nxt community with "giveaways". This is a thinly veiled attempt to make their "software" appear sanctioned by the Nxt community. They have also approached me with a similar offer of a generous donation, but I am ignoring it, because I do not want my name to be associated with this blatant scam.
Never confuse copy and paste jobs like NAS with legitimate Nxt alternatives. NEM and NXTL are trying to innovate and improve on the ideas brought by Nxt, they are apparently re-writing and re-designing everything from the ground up, and will be a healthy competition to Nxt. So they have my respect. But NAS... I hope I made myself clear.
but this doesnt mean BCnext did not launch it as he as I understand it has disappeared. Also did NAS have to get out a load of hidden logical and crypto traps left in? I also hark back to the fact that in 2013 a few months before NXT was launched some on wrote a thread that wend something like this "oh I see I can do this all in Java" and provided a link to something that was almost identical to next, I downloaded it and tried it. It looked like prototype NXT He then just disappeared on some pretext that he did not need to do this because some sort of problem he thought existed was solved. |
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i wonder if a human readable wallet by default would be do-able of course with encryption.
I use pywallet....
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its about 13 months for each order of magnitude, around Jan this year by my calcs we just cleared $100 floor. 10 K is ok, in 26 months.
What I am really interested in though is the 13 months after that. That's when we see change. Big change. 10k to 100K.
At that point, some fiat based currencies will be driven into extinction.
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It might take awhile before there will be withdrawals. I actually wonder how are they going to split 200k among so many people.
The lawyers & administrators will eat most of the meat off the corporate carcass. The rest of us will be lucky to be tossed a bone or two. +1 this much! |
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