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Putting an expiration date on smerit will further pressurize members to issue merits wantonly.
But why do so many seemingly hoard smerit? Does everyone know the reason for merit score? How do you evaluation a post worthy of merit? Answers to these questions will help, I believe.
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The high value of bitcoin seems to me a disservice to bitcoin. The high price serves the interest of speculators and not the users. So if there will be mass adoption and usage, then the price should be acceptable. And the acceptable price cannot be the high of 2017.
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To say bitcoin will be obsolete is just to add to the pressure the cryptocurrency is passing through. Every development has a time of refinement. There is added values to the blockchian and bitcoin, as we see the emergence of other block chains like ethereum, ripples, EOS etc. Yet, all are running side by side with the bitcoin blockchian because they serve similar yet diverse purposes. So to predict the obsolescence of bitcoin from now is hasty.
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Certainly bitcoin is a vehicle. Bitcoin was not intended for evil or bad, rather it is for development. Bitcoin is enhancing peer to peer decentralized payments. It is sad that some turn it for use in other ways. It is not a bitcoin problem but humans.
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The nature of crypto is decentralized. It was designed with uncontrollably in mind. It is very difficult for that to be changed. The pressure of control is coming in the heals of scams. I will rather want to ask, how to eliminate scam from crypto.
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The expanding adoption of blockchian is good for bitcoin. Despite the fact each new blockchian ecosystem developing has it's token, there is one that is universally accepted and that is bitcoin. Not all the coins or tokens will have that kind of wide acceptance which bitcoin enjoys.
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So, only 9725 users sent at least 1 their sMerit. I think ir's too small number and it shows that there are still so many users who aren't aware about Merit system. Bitcointalk has much more active users, if I'm not mistaken ~100k (you need to sign in to your account at least once per month to be considered as active user). Sometimes I'm checking spammy boards like Altcoin discussion, Bounties, Politics & Society and etc, then I open random profiles of Full Members and above, and guess what - mostly of these users haven't sent any single sMerit. Some users complaining that "Merit system aren't generating enough sMerit", "good posts aren't Merited" and etc. But how you can complain when people aren't using their sMerit first of all?
It will be interesting to see more data analysis posted.
Your observation is correct. There is the thought that a merit college be set up. Merits should be withdrawn and given to the group whose responsibility will be to award merits. That way, it is suggested, will keep merits available and not in this case were merits are decaying in some members hands. The presentation is superb. It means there are systems we can develop to make this merit work most effectively. |
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Dear Manager, I perceive that the update of stakes for the signature campaign has ceased. It was very impressive when the campaign started and you were keeping up with stakes but from week 4, there is delays. Please, get back to the way you started it so that it will not delay when the campaign ends.
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Many ICOs have realized that Bounty hunters always sell their coins immediately they give it out to their wallets especially when they are on exchanges. What are the reasons why they sell it out and what should bounty hunters do when they are given the tokens.
The simple reason is that a bounty hunter is a different businessman than an investor. But not all bounty hunters sell immediately they are paid. And it also depends on the coin that will prompt the bounty hunter to hold. |
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ETH is the most preferred for me. It is most popular and easy to convert to fiat. All exchanges list ETH.
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Everyone expect prices to go up because they want to sell and make money but none seems to ask why the price should always be going up. Has there been a commodity that the price is always going up?
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Myetherwallet is the primary wallet and remains the best wallet. Other wallets are either appendages or a second level security wallet.
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Comparing the mindset of the first bitcoin transaction for which 10,000btc was used to buy 2 pieces of pizzas could tell you what the value of bitcoin should be. But today that transaction can not be even imagined, because it will be outrageous. Therefore I believe that bitcoin has been priced over it's original anticipated value. Rather than believe prices will go up, I see prices constantly reflecting the reality, which is downward.
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ETH has appreciated over 150,000%. Ordinarily, if it a commodity, everyone should scream "inflation". Yet in reality, it is indicative of inflated value. So if it falls below $400 it won't be strange.
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This environment "ought" to be anonymous as you rightly pointed out. Yes, anonymous for humans. It was not meant for robots. Most kyc is to remove robots from participation. Also, cheats use multiple accounts. With kyc, it is in keeping to one man one account.
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Bitcoin cannot be a legit currency. The facts are obvious. Just as you have highlighted three significant characteristics of a legit currency, I wish to add that such a currency must be issued and backed by a government. https://www.scribd.com/document/245814525/Characteristics-and-Functions-of-money. But bitcoin as we know today was not created by a country. Also of importance is the concept of bitcoin. A decentralized peer to peer payment solution, with pseudo anonymous capabilities. Bitcoin is virtual so cannot be said to enjoy all round acceptance and usage. |
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So much prediction about bitcoin. Some say it will hit $35,000 by December this year. You are predicting it drop to as low as $1,000. But was is the real value of the bitcoin ecosystem? Does bitcoin have an ecosystem? If bitcoin is to achieve it's intended purpose and use, what will be the acceptable value?
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The performance of bitcoin in 2017 has attracted the good, the bad, and the ugly. All eyes are on bitcoin and this is causing serious distractions. Most predictions will not be accurate any longer.
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Any time the price drops, panic run down spines of people. There is one word I keep hearing, 'correction'. It simply mean the price is not normal. And this can be true because bitcoin has increased over 200,000% above ICO price. My question has been, for a commodity that have appreciated this much, are we still expecting further price appreciation as most people are expecting it?
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Satochi Nakamoto is said to hold an estimated 980,000 bitcoin. At today's price, that will be in the region of $5 trillion. That for sure is colossal. The market will rock if this volume is dumped into it. Besides, it will send dangerous signal which might compel other big investors to start dumping.
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