 Show Posts
|
|
Pages: [1] 2 »
|
|
Probably today my question to hedge mined bitcoins are more relevant due to bitcoin price crash.
|
|
|
|
|
I would say its very sad.
I had a discussion over bitcoin be backed by something like gold just like XNF-NoFiatCoin.
Having no backing and no one there to look about bitcoin makes it very attractive to money launders and drug traffickers.
There will always be doubts over bitcoin future. I think in today's time anything is possible so why not to back it by something which will give it more credibility and general acceptance.
|
|
|
|
|
Good development for digital currency market.
|
|
|
|
|
Could you please care to explain how talking about GREEN is so or you don't accept that mining is indeed a NO GREEN act?
Its not like I am in oppose of bitcoin but yes there is somewhere all those mining, computing efforts, investments are a bit unnecessary and I believe pre mined cryptos like XNF-NoFiatCoin or XRP are somewhat in a better position as far as a digital currency is concerned. Sadly, digital currencies nowadays are attached to mining only but the reality is that they are much more than that.
|
|
|
|
It seems OP wants to hedge his bitcoin instead of earning more and more bitcoin lol.
Earning more bitcoin is one strategy and not losing what earned is another. Since yesterday bitcoin price has come down by $75 that is what makes people think about securing what is earned by searching for some alternates such as dogecoin or XNF-NoFiatCoin. |
|
|
|
I would hold the bitcoin.
XNF is at most backed by only 1/3 value in gold...which really isn't any form of "backing" that makes sense to me.
If you want to buy gold...buy gold.
Yeah XNF is backed by only 1/3 but who is going to redeem that I mean that would be the last resort. I am not thinking about redeeming it but yes having some backing is like an additional feature |
|
|
|
|
At the time of writing, Bitcoin price is about @$927 with various speculations over future price. What about someone who has already reaped a great profit in bitcoin but is not too sure about the future Bitcoin price. Would it be a good idea to sell some bitcoins and buy some other coins which is relatively new and has a potential to grow.
I have decided to hedge bitcoins with XNF-NoFiatCoin for following reasons
1. Its backed by gold (So indirectly taking a position in gold)
2. Its price is not much and has a potential to increase over the time.
3. Its current price is about $6 so in worst case i may lose $6 a piece whereas on daily basis bitcoins flutfuates in the range of $20-$30
Is it a wise decision or shall hold bitcoins?
|
|
|
|
You are either living on another planet or in denial. The planet I'm on, the vast majority of electricity is generate by the burning of fossil fuels fossil fuels, coal, gas and oil. What we really need is something like a Folding@Home coin, where we could do some good for the world while destroying it slowly at the same time.  Probably Satoshi Nakamoto should come out to make bitcoin 100% GREEN and send all miners to a long mars holiday  |
|
|
|
|
Let me know if you want to talk on topic or stay away if you don't like to. Thanks!
|
|
|
|
|
I not sure if price of bitcoin will travel more than about $1000 in 2014.
Can I hedge bitcoins to XNF-NoFiatCoin for two reasons
1. XNF is backed by gold (So indirectly taking a position in gold)
2. Its price is not much and has a potential to increase over the time.
Is that something which seems a wise decision?
|
|
|
|
Will you be accepting gold and silver for coins then also?
Why not! In today's time anything is possible so why not gold or silver for digital currencies. having bullion attached with cryptos will make them more attractive and it will inspire people from the third world countries as well who are a large gold and silver consumers. |
|
|
|
XNF-NoFiatCoin which is a pre mined digital currency backed by gold declares that- It wants to avoid problems associated with mining: waste of computing power, energy and the possibility of a mining pool taking control of the market by acquiring 51% of all available mining capacity. http://www.prweb.com/releases/nofiatcoin/xnf/prweb11494965.htmThere are millions of people who are into Bitcoin mining which consume so much electricity, efforts and investment in hardware. Is mining an act which is against going green? Is there a possibility that total costs of all miners put together is more than what is earned through mining? |
|
|
|
tbh I don't trust nothing ripple related...  As per my knowledge, so far, no one trading on ripple had any issues with the network and in fact it works more securely than how bitcoin function. |
|
|
|
NoFiatCoin is a digital currency traded on the Ripple Network that is backed by actual bullion (Gold & Silver) and can be redeemed for the actual precious metals at any time. NoFiatCoin (XNF) is a complementary coin to other cryptocurrencies like Bitcoin and Ripple. XNF is a coin that is transferred and traded on the Ripple network which is what makes it fast and flexible. By adding new services to NoFiatCoin, it will strengthen the digital currency community and promote people’s power in controlling their money. Where can I get NoFiatCoin (XNF)?On the Ripple Network. You must have an active ripple wallet and then you can get XNF on the ripple market or by contacting us directly and arranging for direct purchase. If you choose to contact us directly, understand that all transactions will be conducted on the ripple network. http://www.nofiatcoin.com/ What is the price of one XNF? It's trading around 300-400 XRP. Hmm... but I am not too sure if this will work since its trading on Ripple. Is it safe to use ripple as this is completely decentralized? |
|
|
|
@lightyear69,
Look, I understand there is no specific formula for success. It is achieved by collective efforts or winning combination. Reasons for bitcoin success were something but does not stop other crypto currencies from getting success. Now, I guess that the creators of NoFiatCoin-XNF are trying to tap on people who looks for some kind of credibilty attached with them. What makes $ widely accepted? because the government of the USA is standing behind it. You got the point?
I get the point but there is a basic difference between the $$ and the company XNF. As you said, The US govt is standing behind $$ to make it work but drawing parallel between the US govt. and NoFiatCoin is justified? Can we believe company behind XNF would not run away with gold? |
|
|
|
|
There is a digital currency NoFiatCoin-XNF which is backed by bullion. Currency is traded on ripple and can be redeemed for bullion.
Is there a need to have something like bullion to back a digital currency?
|
|
|
|
NoFiatCoin is a digital currency traded on the Ripple Network that is backed by actual bullion (Gold & Silver) and can be redeemed for the actual precious metals at any time. NoFiatCoin (XNF) is a complementary coin to other cryptocurrencies like Bitcoin and Ripple. XNF is a coin that is transferred and traded on the Ripple network which is what makes it fast and flexible. By adding new services to NoFiatCoin, it will strengthen the digital currency community and promote people’s power in controlling their money. Where can I get NoFiatCoin (XNF)?On the Ripple Network. You must have an active ripple wallet and then you can get XNF on the ripple market or by contacting us directly and arranging for direct purchase. If you choose to contact us directly, understand that all transactions will be conducted on the ripple network. http://www.nofiatcoin.com/ What is the price of one XNF? |
|
|
|
|
