Satoshi has also a large part of the bitcoins
The top 1% of Bitcoin holders hold 80% of the BTC wealth too, I've always said this is a problem too but it is something a lot of people don't want to hear. Please show me one other top 20 coin where one address holds 23% of the total supply. You do know it is estimated that as much as possibly half of the Bitcoins on the market could be gone or lost forever due to hard drive wipes or government seizures? If this is true (and not saying it is) that would mean there are 6 million Bitcoins in the wild and Satoshi owns a million of them. That means Satoshi owns 16% of the total available Bitcoin supply. Add on top of that 927 people own HALF of the rest of the supply http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12If you will not come out and admit Bitcoin has the same distribution problem albeit on a slightly lesser scale you are showing some cognitive bias. |
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Satoshi has also a large part of the bitcoins
The top 1% of Bitcoin holders hold 80% of the BTC wealth too, I've always said this is a problem too but it is something a lot of people don't want to hear. |
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At the end of the day, BOTH the market caps for Litecoin and BTC are still tiny compared to their true potential. If Zeta were able to do what they haven't accomplished so far, it would exceed Litecoin levels at the very least.
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I don't know what the rumors are but there is definitely some buzz on the twitter sphere and it is coming from many of whom I know who don't usually hype pump and dumps. I'm hodling.
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Hah I voted Bitcoin just to troll and it's in 1st place. |
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Also AUR = ORB, we are comparing shitclones to other shitclones, IPO to other IPO. The problem is that most if not all new-ish coins still have no reason for existence, other than 'I need to use this clever sounding name that does not already exist.' Meanwhile contributing to the mountain-sized altcoin population that further dilutes anyone's ability to properly sieve, further instigating future coin scammers.
-PoolMinor
You know i've noticed a pattern on here that a lot of people talking about shit coins also seem to be whoring out for Franko. Well you know what, just for kicks I decided to look at the list of alleged places where Franko is accepted as currency and just about every site I checked on the list doesn't have it as a payment option at all! Here is a small sample from this list http://www.frankopedia.com/mediawiki/index.php/Service_directory
http://www.beesbros.com - no Franko option to be found http://jaysjerkyandgoodies.com - No Franko option to be found (But Doge is there, lol!) http://wrol.info - No Franko option http://www.dahms-weinversand.de - No Franko option http://allthingsluxury.biz - No Franko option http://www.frontier-space.com/frontierdrupal/ - doesn't exist anymore http://www.mtyimport.com - Doesn't exist anymore I just gave up after this, didn't find a single site to buy things with Franko! And of these sites, most are just crudely designed ma and pa stores, hardly "wide acceptance" which is a commonly overused phrase around here. Most of these sites want JUST want Bitcoin, some Litecoin and a few Doge. One had a Feathercoin option, another Quark... What is Franko's "specialty?" According to the official site " Franko is the future because its fair, scarce, and blazing fast." Wow, never heard a coin with those features before! So yeah, Franko is no less a scamcoin then any of the other 200 coins on CMC. |
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Quick question from a trader, when are we going to see the amount of coins being released onto the market slow down? Its concerning to me the coin is only a little over a month old and already there is 116 million coins on the market when the final coin count is supposed to be 2 billion in about 10 years? I just worry any investment I make now is going to be eaten up badly by inflation.
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Someone is upset they missed the train.
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I'm less interested in the price and more interested in the increase in mining difficulty.
This coin was designed to solve the issue of distribution of mining for all and the price is helping drive that into action. Powerful network effect coming into play.
What is the expected daily mining rate going to be? Because at this rate the amount of new coins coming into the market is a lot. |
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dude don't get me wrong it's trading 101, you're absolutely free to invest/sell/buy anyway you like, but don't expect someone to come and hug you for your loss... you don't get that for losing on stock trading floor right?
I'm not asking for anyone to hug me, if anything i've been punished for NOT having weak hands, have lost a few BTC holding onto crappy alts that just sank deeper and deeper and I held strong and didn't sell out and got burned in the end. All i'm saying is whales should think of the ramifications of what they are doing, is it worth harming the future of Bitcoin just to make a few extra coins, that's all. Playing the dips for 1-2% gains is one thing, but conspiring with other whales to tank the market as much as 50-60% and scoop up all the coins from the weak hands doesn't do anyone good in the long run. This extreme volatility only hurts mass adoption, doesn't help it. |
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nice... one pair of weak hands down more to go...
See this is exactly my problem with crypto at the moment, it feels like one big game to extort more money and more Bitcoins from the next new pool of new victims, it feels less like a "community" but everyone here is trying to outcon everybody else, obviously the alt game is more rife with it because with lower volume the price manipulation is more apparent but don't kid yourself Bitcoin and Litecoin has the same problem it just moves at a slower pace. I know this is just the way the finance world works but if Bitcoin were more evenly distributed, such manipulations would be harder to do, but all it takes is a few big whales who are gluttonous with Bitcoin crashing the market just to get more coins, it doesn't help mass adoption at all. I think the biggest mistake Satoshi made was not making mining for Bitcoin difficult in its early stages that it allowed a few people to hoard most of the coins for just a few dollars of electricity. |
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That's because those who actually understand what bitcoin is, how it works, the technological as well as the financial side, the implications for society on the longer term and maybe even an understanding of the exponential function and network effects, are elite. Most people simply do not have the mental capacity to understand all of that at once. So when someone like the op comes along, who only takes a months long look at things and fails to take into account even the past years price history, there is a reaction. It's a toddler telling a university student why he is a fool.
And they were always shitcoins. They offered nothing useful and therefore failed.
The issue though is I have no confidence in the people who claim to understand Bitcoin either. Shrem and Karpeles have turned out to be crooks, the BTC Foundation has been doing nothing but squabbling like children for the last few months now, I also never saw a case of more impotence when I saw all the reps trying to defend Bitcoin at the NY regulation conference a few weeks back. They casually sat there and allowed lies to be uttered in front of everyone by the establishment and did little to counter them, I know there is decorum and all but really come on. To top it off you have exchanges like btc-e whose members constantly cry about "shitcoins" like Doge while propping up dead and equally useless coins like Feathercoin or Terracoin, the whole thing is like payola with the old established coins being kept alive because of politics and tyrannical mods like Koolio banning you for any mention of competition while he simultaneously is developing and selling ASICs to mine for all these "shit" scrypt coins. I find the incestous business relationships around here questionable, like how Litecoin is propped up as the "silver" to Bitcoin's gold while Charlie Lee's brother runs one of the biggest exchanges in the world. What better way to make a fortune than develop an alternative to Bitcoin, hype it up for a year, and then have your brother sell your own creation on his exchange? And people say a 1% premine by a dev is crooked. It only gets worse now with this whole Operation Scamcoin thing, instead of fixing problems in your own house we got people running around here trying 51% attacks and threatening to DDOS projects they don't like, wanting to extort devs for money for the "permission" to make a coin (and where do you think this money is going, hmmmm).. It is also kind of insulting to me that BTCtalk has been bantering around for months now about how Bitcoin is going to $100k a coin, maybe even a million dollars. This exuberant hype is what has been driving the newbies in, then the minute the Chinese sneeze everyone starts selling out leaving the newbies with the bags, yeah if you collected thousands of Bitcoins for pennies, a 50% drop in price might not be so bad when you are wealthy, but for working class schmucks who were promised a chance to escape the clutches of a debt-ridden society and rampant unemployment and who put up a good chunk of their salary to join the movement, it feels like a betrayal and only lends ammunition to the accusation BTC is a ponzi scheme. Where are all you hardcore libertarian types around to stand up to the Chicoms and tell them to screw off? You are dumping your coins and running off with fiat like scared little puppies. I thought Bitcoin users weren't supposed to care what oppressive governments think? Finally the top 1% owning 80% of the Bitcoins doesn't speak well for decentralization, and how many of these coins are owned by immature teenagers who get their news from reddit? Sorry but my experience so far in the last few months has been finding the whole thing to be amateur hour and a circus show. And Satoshi needs to show himself. This "mysterious creator" bullshit is getting old, everyone attacked the creator of AUR for being equally anonymous but somehow think Satoshi gets to be immune from such criticism. I am still not even sure Bitcoin is not an NSA project. The movement needs a leader and a confidence boost and him revealing himself could do that. |
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Bitcoin is good for trading the volatility. The buy and hodl days are over. You are doing it all wrong.
This is why I am on the edge of leaving crypto like the op personally. Some of us have day jobs and we don't have the time or money to sit around all day buying at the dips playing day trader. I want an investment I can feel safe buying, turning off the computer and coming back 6 months later. I am still unsure if Bitcoin is this solvent and alts definitely aren't that at this moment either. Nice signature! For someone "with a day job" and looking for "investments were I feel safe buying" you sure have a lot of shitcoins... They weren't shitcoins 3 months ago when I made my signature, but now everything is down in the dumps. Why the personal attack? If it's not the market being in the red severely it is the attitude among people around here that turns me off from crypto in general, it is very elitist. |
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Bitcoin is good for trading the volatility. The buy and hodl days are over. You are doing it all wrong.
This is why I am on the edge of leaving crypto like the op personally. Some of us have day jobs and we don't have the time or money to sit around all day buying at the dips playing day trader. I want an investment I can feel safe buying, turning off the computer and coming back 6 months later. I am still unsure if Bitcoin is this solvent and alts definitely aren't that at this moment either. |
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The scientific consensus for years was the coastal cities would be underwater and we'd be cannibalizing each other by the early 90s but I digress, what does any of this have to do with Blackcoin?
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Just something to consider
When rapper 50 cent tweeted about some small headphone company, the market cap shot up $50 million overnight....
Now Imagine if just ONE Silicon Valley titan tweeted about XSV, imagine how much revenue would come pouring in?
I admit I was skeptical at first but the Dev has proven his due diligence and the more I think on it the more the idea sounds very clever.
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Just want to let everyone know I work in the folding carton printing industry so the invoice checks out in terms of 4-color process terminology, he is using gloss aqueous coating which should give the vouchers a really professional look  |
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If you are a believer/member of OSC and have Cryptsy in your Avatar or signature, you are part of the problem. Cryptsy's whole existence is owed to mine-n'-dump and rinse and repeat, just remember that.
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Already its rising on Bittrex, crypto speculators work fast.
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