Lets see, current rate is 2000 satoshi each. 10x would be 20k satoshi each or 0.0002 each. That would put it in a marketcap of 3.5 million. It would rank 17th, just behind quark, vertcoin and XC. This doesn't seem unreasonable. But lets be conservative and say 5x, that would put us at $1.75 million. That would put us at 24th place, just behind Maxcoin, Megacoin and InfiniteCoin. I see Silkcoin to be more innovtive than these coins and a 5x increase seems very resonable. A 10x increase would completely depend on the eco-system and its real world utility which is still a complete unknown.
I am optimistic ofcourse that if the dev's follow through with their roadmap then we are going up in terms of bitcoin by multiples, the amount of multiples is anyones guess.
Now, we would go straight to the top 10 if the devs implement the marketplace which allows the free selling of anything. This alone would create a lot of buzz and media attention. People using blackmarkets in TOR would flock to the silkcoin marketplace. Actually I would love if their would be a community driven voting system where certain types of goods could be voted to be taken off the market. In other words the community decides what is allowed or not allowed to be sold on the marketplace. This would remove the developers responsibility to flag certain goods and put it into the communities hands.
Also think of the implications of just selling everyday goods on the marketplace instead of ebay, no more 10% fees per item and little to no more listing restrictions. A marketplace owned by all of us.
The OpenBazzar project (AKA darkmarket) has seen a lot of media attention and buzz already just imagine if the eco-system beats them too it, silkcoin would become a household name.
So when you say 10x is highly unlikely it should be rephrased to a "complete unknown", as you are just judging from your previous trade experiences. The reality is the market does not know or has decided what the value of silkcoin will be with these never before seen innovations.
I answered most points in the post above, but yes I have to agree, 10x in price would be easy with decentralised anonymous market place. But as I understand the devs distanced themselves from that Idea, so there is that. |
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Well we could argue what does the "value" really mean. Auroracoin's value was not in better wallet or anything technical, it was in a great way of reaching out many people. Around 30 000 Icelanders got their coins...It was only possible thanks to smart usage of Icelandic ID electronic system. This was a new approach to massive adoption and I saw value in that. But I understand you invest according tot echnical value and thats allright  10xmarketcap would shoot us around vertcoin as I said we need one good feature And I agree we need major adoption - this burden is upon us though, we must spread the word I am certainly not putting my hope solely on SC I always divide my total investment portfolio into 50 even chunks And sometimes when I feel real potential I go double Well enough with offtopic. Lets just concluded that Silkcoin is a great coin and buying now is certainly a viable option Distribution is not really an argument. Adoption would be, but as the coin was banned in Iceland, this would not have happend in the near future anyway. The whole auroracoin thing was planned as a scam and that is why they failed (well I call it like that) so miserably. @SC: Major adoption won't happen because you have a pretty client or because you have a decentralised social site. You need to distance yourself from the mass. One way would be to make use of that excellant name and offer a decentralised and anonymous ebay style goods market (well mor like Silk-Road). This would be extremely awesome and the price would explode for sure. Because you can market that thing extremely well. The problem is that NXT and Dark-Market will exactly do that, so being the second or third can mean enormous disadvantages in adoption. But lets see how the digital goods store will work out. I am stoked and loaded with NXT I bought cheaply! |
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I bought 500k SC at 0.00001 and sold it at below 0.00002 ... Now I regret that because it is really hard now to acquire such a big position. I really like the energy of this community. If there is a big correction, I might join back in!
Just buy in now and get people to panic buy and boost the price even more My investment philosophy is to never buy coins that performed well in the last few days/weeks. The potential return of those coins is way lower than new/unknown coins. But I gladly rebuy in correctional phases, because if this currency is really implementing second generation features, this might get huge! Well when aur went 10x from 1USD to 10 USD Your strategy would be not to invest..well aur went 10x more even after that though :-) Same might be with Silkcoin. I understand you want buy in again in correction phase, but trust me, there wont be any. Many people are waiting for this. Including me and I can purchase a lot. Silkcoin is something unique, we are not riding the "anon wave" but if we would Silkcoin would rival darkcoin. This coin has great devs (and team - looking at you judge and wulf!) + passionate community. There is so little toxicity in this thread it is amazing. Propably because there is so much work done around Silkcoin. Just look fast are voting on mintpal! You might want to wait, but one new feature + mintpal and Silkcoin will explode. And then it will be too late. The first mistake comparing SC or any other goodinvestment with Aurora. I am mainly a value investor and not a speculator. So a coin that adds literally no value and is inflated by the fact that it had literally no coins free floating and thus creating scarcity that didn't exist was a fail! SC is a good coin beause it adds value to the altcoinmarkt and this is good because only coins that add value will be worth something in a months time , or lets say a few months time! The reason I invested in to SC was because I saw its value, and I also made a goal where I would sell it. Little did i know that the point was reached rather fast (witin a day!). SC might rise in price, but 10x market cap in BTC is highly unlikely if major adoption doesn't happen. So putting all your hopes into SC multiplying its value is not a good bet  |
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just requested a nem token via pm, thanks
Anyone know when UP usually sends them out?
once a day in batches. Don't know if todays tokens were already sent, so maybe today or latest tomorrow. |
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They likely ran a ponzi scheme with fractional reserve that got busted when the price collapsed.
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Hello! The subject is really simple. Let us say, that there is a grocery shop in the corner in your city. Hypothise : We are in the future, and this shop decides to go full on btc, so no fiat-> bitcoin conversion in business. It (tries to) buys products in it, pays bills/rent/employees in it, and accepts bitcoin ONLY from customers. After all, that would be the future perspective and goal of this whole "experiment of betterment of the world" . My problem is (well actually i am fine with that scenario above): Government. All the dealings of these hypothetical business are made in bitcoins. The ledgers are only on the blockchain. How the government can coerce taxes out of such a business? How can/will they control, regulate, "bureaucratise" the everyday working of such a business, since the whole operation is out off control (no dollar ever make an exchange, so how do they deduce taxes? How they enforce regulation, since this business is "not existing" in the dollar world). They can not practically enforce the huge blob of regulations and fines etc., with such a company, since it is dealing in an "alternate dimension". Well, regarding the finance part. They still can call some cops/commando, anything to seize the shop, or arrest the managers, let us say, for money laundering or illegal trading etc.. Remember, the government has the monopoly on initiating force, and ofc they going to use it - after all, that is how they can get your stuff, by threat of force. I am thinking about the solutions for this rather pragmatic question, because, while money/currency can be fully digitized, the actual physical goods can not be, alas, can be the object of physical force. One scenario is ofc, that by the time the above mentioned shop reaches bitcoin only status, the government already crumbled, USD hyperinflated, etc etc. I am looking for suggestions, and theories, because i think this is a rather pragmatic and utmost important question. Looking forward for a fruitful conversation! Solution: If this becomes a big enough issue, the IRS will just accept Bitcoin to settle Tax debt |
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when we already have crypto currencies, master cards, paypal and other shit, why do we use cash?
As a matter of fact, many governments WANT to try to abolish paper money because it is bad for them. People can do illegal shit, can earn money without paying taxes, are anonymous ect. Online cash (paypal, CCs ect) are perfectly traceable and the governments LOVE that. |
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What is show stopper?
The network is not running stable, few bugs kill the network in every test until now. Can't launch with somehting like that. |
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@OP. You have logical flaw in your argument in the opening post. Increased money supply is actually a bad thing for people that hold FIAT or investments that depend on the value of fiat. It is good for people/countries that have lot of debt. Obviously this flaw doesn't change the fact that the kapitalism is sucking money from the workin folks and distributing upwards capitalism doesn't suck money out of anybody, capitalism is about trading things with one another. every free trade is beneficial to both parties of the trade, otherwise it wouldn't have happened. rich people are simply people who produced so much goods and services that people want that they were able to trade them for alot of money. I was talking about the fact that capitalism is called capitalism because capital is working for you if you have it. You don't need to produce goods or services. That is the point. Todays financial markets might have basis that creates that stuff, but the way money is made with money previously owned has nothing to do with that anymore (or atleast only remotley). |
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I have idea, if devs want 50% mining, ok but let,s make it 25 POW 25 POS. It is best option for all. For investors, they can make some coin more, and for price, people want to buy coins for POS, and no one wants to dump coins. Your thoughts guys?
agree. And give more food to the POS haters that say that IPO distribution is horrible? POS with intrest is in fact unfair, especially if it is as high as 50% in X months... |
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...
In relative terms, it absolutely is. But remember Bitcoin was 3.5 years old at the point he joined and even if the forum was different at that time, it was nothing compared to the 2010/2011 times where the forum was used to get projects and developement going.
2012 (and obviously today) it is/was a platform to promote scams, fud, altcoins and HYIPs...
2011 was pretty scammy too. It actually cleaned up a bit in the latter half of 2012 (pirate notwithstanding). Gotta go back to 2010 for things to have been mostly pure. Yes, but what are few scams compared to majority of announcements being scams |
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A year ago, you would have had 100 answers by now. The forum is full of jobless socialists now. I much prefered the days of jobless anarchists. DAMN ALT COINS!
Myself, I was 8 months from hearing about bitcoin. Bought my first btc at $5.50... and a few more in the $4 range before the price JUMPED on 4/20 that year.
You joined in summer 2012 and are talking about the good old days of this forum? Hahaha. Cute! Jobless I assume? Jumping to conclusions much? Just trying to figure out what part of my post you got butthurt about. Still didn't answer the question. You compare the forum of your joining to today and talk about like you are some kind of veteran, but you only joined in 2012 summer... That is like on 4chan if a summerfag calls a newfag "newfag". Summer 2012 is getting kind of early in Bitcoin, he may have been interested by Bitcoin before joining In relative terms, it absolutely is. But remember Bitcoin was 3.5 years old at the point he joined and even if the forum was different at that time, it was nothing compared to the 2010/2011 times where the forum was used to get projects and developement going. 2012 (and obviously today) it is/was a platform to promote scams, fud, altcoins and HYIPs... |
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@OP. You have logical flaw in your argument in the opening post. Increased money supply is actually a bad thing for people that hold FIAT or investments that depend on the value of fiat. It is good for people/countries that have lot of debt. Obviously this flaw doesn't change the fact that the kapitalism is sucking money from the workin folks and distributing upwards |
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A year ago, you would have had 100 answers by now. The forum is full of jobless socialists now. I much prefered the days of jobless anarchists. DAMN ALT COINS!
Myself, I was 8 months from hearing about bitcoin. Bought my first btc at $5.50... and a few more in the $4 range before the price JUMPED on 4/20 that year.
You joined in summer 2012 and are talking about the good old days of this forum? Hahaha. Cute! Jobless I assume? Jumping to conclusions much? Just trying to figure out what part of my post you got butthurt about. Still didn't answer the question. You compare the forum of your joining to today and talk about like you are some kind of veteran, but you only joined in 2012 summer... That is like on 4chan if a summerfag calls a newfag "newfag". |
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It will be called exchanging bitcoins, when its ready.
Don't force terminology. People use it for a reason, even if its unconcious.
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Guys! Wait up a minute. He still has about 25 days left!!!!!  |
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my uncle said that 1 bitcoin is all he could afford right now..i could not assure him if it is really a decent and good one...
i said him i will get back to you after i ask this in the forums..
so what is your opinion?
You can't answer such questions without knowing more details. If he is living on some kind of social checks, than by all means, this is a very bad investment! But if he is a multimillionair, this might be way to little compared to his net worth. |
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Well, this just means that more money will be invested, and because BTC is one potential Investment --> yeah it will profit from this in some way.
Other than that, BTC is very uncorrelated to normal markets.
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A year ago, you would have had 100 answers by now. The forum is full of jobless socialists now. I much prefered the days of jobless anarchists. DAMN ALT COINS!
Myself, I was 8 months from hearing about bitcoin. Bought my first btc at $5.50... and a few more in the $4 range before the price JUMPED on 4/20 that year.
You joined in summer 2012 and are talking about the good old days of this forum? Hahaha. Cute! Jobless I assume? Jumping to conclusions much? |
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Google wallet doesn't allow that, because the VISA/MASTERCARD terms are broken with BTC.
You are not the first one to think about that. Just use coinbase if you are in the us.
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