coinprism is 100% premine right?
Coinprism is only a wallet. You supply the bitcoins to fund your IOUs. |
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Let's say I want to grow an apple tree. I need money for fertilizer, insecticide, and water. I can supply the seed, the land, and the labor. So to raise money for this venture I sell applecoins* expecting to get a yield of 1000 apples in a season (we have fast growing trees). I sell 100 colored coins to cover those costs and will give each colored coin owner 5% of the yield rounded down to the nearest whole apple and then will offer a discount on apple pie to the applecoin holders as well. To redeem the colored coins for the apples, you must send them back to me.
*screw you Apple, Inc.
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Question:
I'm a farmer and have 100 apples. Am i correct in that I can issue 100 shares for my apples?
When I sell an apple colored coin what happens to the coin when the apple is eaten? Does the time-stamp just act like a receipt?
When the apple is eaten, the counterparty assigns it to another apple or recolors it. So for clarity, the buyer destroys the coin upon taking possession of the apple? or only after the apple has been eaten? The colored coin was an apple future. He exchanged it for the apple. |
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Question:
I'm a farmer and have 100 apples. Am i correct in that I can issue 100 shares for my apples?
When I sell an apple colored coin what happens to the coin when the apple is eaten? Does the time-stamp just act like a receipt?
When the apple is eaten, the counterparty assigns it to another apple or recolors it. |
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Don't you realize every person you help takes money out of your pocket? This is one of the major reasons mining is not very profitable anymore.
The days of making fast money by mining are over. Supporting Bitcoin by mining helps secure the network and makes your holdings more valuable in the long-run. Helping other people only helps Bitcoin grow. The real competition is in the large industrial mining and most of them don't need your help. |
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I am sorry. I apologize. I was responding to the article about the Bitcoin ATM. The Fidor bank is welcome to launder money in any way they wish in their intrabank system. We'll see if they offer anything to us peon customers. |
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I probably would have started with the Rock, Paper, Scissors rather than the ax murderer analogy, but I get ya. Nuance is important in game theory. Understanding human patterns is what competitive games are all about.
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The one advantage Ripple does have is billions of XRP reserve. They can afford to launder a lot of money and bribe a lot of public officials. I keep hearing that Ripple isn't XRP, yet every news story is about XRP. |
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sponsoring Olympic athletes and a NASCAR racer which gives them lots of mainstream media exposure.
Who paid for those and why? The /r/Dogecoin community on Reddit. Lots of people gave small amounts, they raised 67 million Dogecoin in total, worth $55,000 for the NASCAR car and about $30,000 for the Jamaican bobsled team. In case of the NASCAR car they worked with the /r/NASCAR community for the sponsorship campaign (both subreddits were actually promoted on the side of the car). Many NASCAR fans on Reddit learned what cryptocurrency is for the first time because of the sponsorship. Even if you don't like Dogecoin you should appreciate that. All Bitcoin has is the Bitcoin 100 and other various charity works. Certainly nothing that would interest the NASCAR crowd. Dogecoin also has charities (see: http://www.ibtimes.co.uk/dogecoin-community-raising-30000-children-charity-1435131). The NASCAR sponsorship was about getting media exposure for Dogecoin and that worked rather well. Obviously a racing team is not a charity. Good for you, kiddo! Keep working hard and maybe Mastercard will attack you someday. |
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sponsoring Olympic athletes and a NASCAR racer which gives them lots of mainstream media exposure.
Who paid for those and why? The /r/Dogecoin community on Reddit. Lots of people gave small amounts, they raised 67 million Dogecoin in total, worth $55,000 for the NASCAR car and about $30,000 for the Jamaican bobsled team. In case of the NASCAR car they worked with the /r/NASCAR community for the sponsorship campaign (both subreddits were actually promoted on the side of the car). Many NASCAR fans on Reddit learned what cryptocurrency is for the first time because of the sponsorship. Even if you don't like Dogecoin you should appreciate that. All Bitcoin has is the Bitcoin 100 and other various charity works. Certainly nothing that would interest the NASCAR crowd. |
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Resist the temptation to spend more than 10% of your discretionary income at one time or 1-5% of any significant amount you are willing to risk in any given week. Buy in slowly. Sell off slowly. For every person that get's lucky taking big risks, there are many that lose doing the same. Stay in for the long haul and you won't be disappointed.
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Here is the hawala system in a nutshell:
A -> B -> C -> D
A is the person sending money, D is the person receiving money.
B and C are the hawalists, residing in different countries.
Trust relationships: A must trust that his hawalist does what he expects, make sure that D receives money. B must trust that C releases money to the customer in the other end. C must trust that B later physically sends the money with the help of a friend that travels, or that the transaction can be cleared by another transaction in the opposite direction.
What can bitcoin do? For the hawalists, they can use bitcoin, thus the transaction can be cleared immediately, and physical transport of money is not necessary.
What can ripple do?
Ripple can do much the same thing if you are willing to risk your gateway to support hawalists. Watch for low flyin***BOOOM*** |
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sponsoring Olympic athletes and a NASCAR racer which gives them lots of mainstream media exposure.
Who paid for those and why? Mastercard has five lobbyists for Bitcoin (well against actually) which cost a lot more than those sporting events. |
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Good move. That way the party members can protect their monopoly of payment systems and Chinese citizens will know that they can have a fair market outside their sovereign borders. Win-win: that's Chinese for GTFO.
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Neither bitshares nor ethereum have been launched yet so you can't really compare either of those aspects. Also bitcion has little acceptance and low liquidity compared to the many asset types out there. Your assertion is still unfounded. I dont mean to sound like an ass. I've just found that theres to much misinformation in the space given the level of potential innovation. We should be realistic about bitcoins technical and economic limitations and work to correct them, rather than just perpetuate fallacies about how its going to the moon even though there is very little evidence of that.
I hear that Phlogistoneum is going to be infinitely better than Ethereum. It's a secret. Don't tell anyone. Just saying. |
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The Bitcoin Endgame.
Any business that wants economic freedom can register as a general contractor. They can circumvent money transferring laws by never actually touching and only negotiating payments to subcontractors transparently through the blockchain to similarly registered legal subcontractors. If you want to claim that anyone that doesn't have any money is a money launderer and a terrorist we will truly have a War on Poverty.
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How is bitcoin any more universal than bitshares or ethereum? Bitcoin in and of itself is a niche market. These other two projects are trying to take the technology into the mainstream. Bitcoin serves one functions, while these systems serve many. You are completely misinformed.
By universal I mean acceptance and liquidity. |
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Perhaps the foundation will continue to exist, but it has lost all credibility, and is even more invalid than it was when it started. Combined with a bunch of members leaving, that's pretty much a collapse.
No one is going to join or donate to the bitcoin foundation anymore.
Every volunteer organization goes through schisms. That's why after a thousand years we have nearly 20k 40k Christian denominations. BF will survive and grow. You are welcome to start your own. Then we will have two in six years. |
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