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1  Economy / Economics / On the future of Cryptocurrencies on: May 14, 2021, 02:57:11 PM
Yesterday I watched some actors on a national media broadcast / stream who were interviewing some public attention-seekers about about the future of bitcoin. I consider it a woefully inadequate source of useful information, but there are clearly some people who utilize it. These attention seekers were quick to elevate themselves from simple experts in any field they study for a few hours to the position of divine oracles who can predict the future with absolute certainty. History has always provided a forum for such charlatans, and we continue to provide them today. If nothing else, it can provide some brief entertainment.

I make no claim to expertise, for no matter the degrees and certificates on a wall, a senile professor is no longer an expert on anything. Such is how fleeting the value of our opinions are. But having owned and been involved with cryptocurrencies for over 11 years, I think it is possible that some may benefit from my experience and insight.

I consider the most important question being asked today to be the one of what the future of cryptocurrencies will look like. The only real answer is that we do not know. We can't possibly know, and anyone who says they do is being either dishonest with you, or dishonest with themselves. But here I will provide my best guess.

When one considers gold, it has a tremendous number of uses, we can all easily identify several. It is used for jewelry, electronics, aerospace, dentistry, and many others. Of course, gold has historically been used as a store of value or a currency. To suggest that gold has only one use would be contrary to the truth. So it is with cryptocurrencies.

Cryptocurrencies provide a wider and wider range of uses each day. To argue whether or not it is a currency or a store of value ignores these other important uses, and in the end no different that trying to use shades of grey to define a rainbow. However, one must recognize that some things have a single use or purpose that completely overwhelm the other. The purpose of a cannon is to be fired. While it can be used as decorative lawn art, or as a museum exhibition, it was not intended for that purpose when created. Sometimes, the use that it finds is not the use for which it was created. So too do I expect bitcoin and other cryptocurrencies to evolve these uses.

I consider the evidence overwhelming that bitcoin was created as an alternate currency, a role that quickly shifted to a store of value, and is now shifting again to become a settlement instrument and an investment. Etherium provides a framework for smart contracts and much more, yet also is evolving into an investment instrument, especially with the staking paradigm being advanced. I would posit that these many uses we see in cryptocurrencies are like the uses in jewelry or electronic that gold fulfills. While important and valuable, they are not the final use these instruments will fulfill. I believe that the end-use that cryptocurrencies will attain is a use that few have yet considered.

Cryptocurrencies have been designed as almost the perfect collateral. I joking call this possible future the "Cryptocurrency Pawn" model. Banks may eventually realize that bitcoin is the best collateral identified to date. here is a simple example:

Joe wants to buy a new car. He has bitcoin, but of course, he does not want to give up his $50,000 bitcoins expecting them to be worth $100,000 next year. Spending deflationary currency comes with it's own expensive repercussions, as anyone who as ever spent cryptocurrencies can attest. So Joe pawns (gets a loan on) some bitcoins. The bitcoins are locked into a smart contract. The bank advances Joe $50,000 on two $50,000 bitcoins. Joe pays back $1000 a month worth of stablecoins, and when he pays back the $50,000 his bitcoins come back to him, probably worth $250,000 by then. If he fails to make a payment, the bank gets his coins.  There is a great incentive for Joe to pay, and essentially no risk to the bank. The bank can charge some nominal interest for an easy profit that in the end costs them essentially nothing.

There are some experiments along this line being used in Defi, but I tend to think that this is the major future use case. Not as a currency, not as a store of value, but as deflationary collateral. In this manner, cryptocurrencies do not replace fiat currencies. They do not even compete with them. They each coexist in an environment where they each perform those functions for which they are best suited. The banks won't go away, they will just evolve to become more like pawnshops, a a role they often try to fulfill with houses or cars as collateral. But cryptocurrencies can fulfill that role far more effectively and efficiently.

This is the future I see, a million problems solved and a million applications created by cryptocurrencies and blockchain technology. But one with a single major use case: The cryptocurrency Pawn model. A world where selling cryptocurrency would be a last resort, like selling grandma's gold watch.
2  Other / Off-topic / Bitcoin sticker project on Kickstarter on: October 30, 2017, 04:02:11 PM
Hello all!

We have just launched a kickstarter project for a series of stickers relating to bitcoin! Including such memes as "HODL" and "To the Moon", these stickers would be awesome for computers, car windows, or even skateboards! Come on over and check them out!

https://www.kickstarter.com/projects/752729543/bingies-collectible-binge-stickers-for-bitcoin-ent

Thanks!
3  Bitcoin / Mining speculation / 39,457,671,307... The bitcoin Fairy on: December 17, 2014, 04:46:04 AM
Today the bitcoin fairy visited my mining rig. She sprinkled some magic sparkle dust on it and now it it will be useful for two weeks longer than it was supposed to be... again, for the third time in a row.

Edit: perhaps I should have referred to the ROI Fairy.
4  Economy / Economics / Xbox news from 2017 on: December 12, 2014, 05:46:28 PM
News from 2017:

Microsoft today announced the latest Xbox incarnation, the Xbox BTC edition. In addition to providing seamless content delivery and an all-encompassing gaming experience, the BTC edition will include Bitcoin wallet functionality to make in-game micropurchases available to their users. Additionally, several ASIC mining chips have been included in the system to allow your Xbox BTC edition to search for coins to fund those very micropurchases.

Several Bitcoin mining insiders look at the strategy as "closing the loop", wherein users of the Xbox mine small amounts of BTC through mining, and then can send the coins directly to Microsoft for in-game virtual goods, content, and music / video access. It is expected that with over 300 million pre-orders for the Xbox BTC edition, this userbase will constitute nearly 40% of the total Bitcoin network hash, ensuring  decentralization of the network for years to come. This constant stream of micropayments to Microsoft are expected to make Microsoft the second largest holder of BTC known, behind of the massive immovable Satoshi Nakamoto hoard.

In other news, the intellectual property from the Mastercard bankruptcy was purchased for 0.134 BTC by a wealthy anonymous investor, who is said to have a stash which totals well over 7 BTC from mining on his GPU in 2012.
5  Economy / Economics / Bitcoins and loans on: January 20, 2014, 08:28:44 PM
I have been trying to figure out how loans could work in a deflationary currency. Borrowing bitcoins would be a pretty bad idea overall, considering that if the loan were amortized over a period of years, even at some microscopic interest rate, the coins you use to pay it back could have a value of many times the initial loan value. It would be suicidal to take out such a loan.

However, it occurred to me that bitcoins would make the most amazing collateral. No one in their right mind would consider defaulting as prices rise. Suppose with btc at $1000 each. You borrow $1000 against a coin. BTC rises to $5000 per coin in the time before the loan comes due. I am pretty sure you would find the $1000 to get your coin back one way or the other.

Obviously, the lender would need to hedge the price of the coin he is holding for collateral because if the value dropped to $500 per coin the chances of default increase dramatically. But overall, I think using BTC as collateral may be a viable system, much better than making loans denominated purely in BTC.

What say you?
6  Economy / Speculation / For the win. on: January 10, 2014, 02:40:31 PM
I think many people already realize that online gaming is going to be a giant catalyst for bitcoin adoption, especially as an MMO in-game currency. It is only a matter of time before you buy your armor and weapons with btc, loot monsters for btc, and can cash out your btc. Imagine the day when you battle another player, loot his armor, sell it, withdraw, and make your car payment.

I project that in a few years btc use in virtual economies will surpass btc use in the "real" economy. If there is anything btc would excel at, it would be for in-game currency. Adoption in virtual worlds could take bitcoins to an entirely different level. Odd that no one is even talking much about this.

7  Bitcoin / Bitcoin Discussion / If you have 100 btc... on: November 12, 2013, 03:59:20 PM
If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.
8  Economy / Speculation / What price for btc will start to affect the value of the dollar? on: November 07, 2013, 05:22:00 PM
Simple enough question to ask, a hard one to answer. Context:

The process of moving to a bitcoin economy may essentially be a story of massive wealth distribution on a scale never before witnessed. The best way to visualize this is the case of the Norwegian chap who bought $27 of bitcoins in 2009 and was rewarded with $885,000 and change for the investment. The world economy hoovered up $885,000 and handed it to him. In his eyes, wealth has certainly been redistributed. But where exactly did it come from? As I watch my bitcoins increase in value, one has to ask where that wealth is being transferred from. It is obviously not being created out of air. The answer is simple but elusive:

Every time bitcoins rise in value, the value of a dollar goes down.

This statement may sound bizarre, but let me explain.  The pool of dollars as a representation of wealth is huge compared to bitcoins. When the price of btc jumps from $100 to $200, this is a huge movement because the bitcoin market cap is so small. This also correlates to loss in dollar value, but it is so small compared to the available pool that it is unnoticeable. Perhaps every dollar loses a billionth of a cent in purchasing power. But billionths of a cent add up when you consider every dollar in existence. Those billions of a cent by definition must add up to the new market cap of btc. When btc hits 3 billion in market cap, 3 billion in value is removed from dollars... spread out across the trillions and trillions and trillions of them. It is almost invisible.

But at some point, the market capitalization of btc WILL be noticeable. The value of the dollar is already decreasing due to government and banking policies. We know this as inflation of course. Bitcoins currently are such a small factor adding to this inflation that no one would even think of tracking it. But imagine a trillion dollar market cap for btc. That is like the fed printing up another trillion dollars. Would that be a noticeable inflation? How about 10 trillion? 100 trillion? Start thinking Zimbabwe.

A million dollars can always buy a million dollars of bitcoins. The problem lies with just exactly what goods your million dollars can buy at this point. Maybe a toaster or a gallon of gas. maybe. We are already seeing the first stages of the prisoners dilemma. Those who move their fiat to btc first will get the most. The longer you wait to defect the worse off you will be. He who defects first defects best the saying goes. The wealth will be distributed to the early adopter, not so much to those who wait. The last will be trading toilet paper fiat for a few satoshis. It is from the late adopters that the wealth will all be transferred.

So it is important to ask this question.
9  Economy / Economics / Can't stop it. on: November 01, 2013, 04:12:47 AM
I have been an advocate of bitcoins for quite some time. It appears to be an amazing vehicle for both political and social change. There have been volumes written on this, and I an not coming here today in search of validation for these things. What I am concerned about is the future.

The experiment that became bitcoins is currently for all intents and purposes unstoppable. No group, be it government (political) or economic can at this point stop it. It cannot be controlled, it cannot be reigned in, it cannot be regulated. This should be self-evident to anyone who has followed it's development.

The bitcoin network is supported by greed. Not greed as a sin, but greed as a natural extension of humans to increase their wealth and holdings. Buy some bitcoins today, and they will be worth some multiple of that tomorrow. Buy mining gear today, and get your little black box that spits out $20 bills while they last.

But the greatest flaw in the system of bitcoins is also it's greatest strength. Bitcoins cannot be controlled. No government, no group, no one can control them. The price and the value is up to the free market. Totally free. But what if that turns against us?


Who can stop it? What government in the world can stand up and say " This or that" to bicoin? None.
What rebellion, what revolution, what grass-roots group can veto the market? None.

I think people have missed the most amazing and insidious part of bitcoin. That it literally cannot be stopped by anyone. No one. Once it has integrated itself into commerce it cannot be removed. Not by politicians, not by bankers, But also not by the population of the planet. We are literally turning everything over to an algorithm with no kill switch. No way to turn it off, no way to change our minds later. It is here. It will always be here. No one can stop it.

We have created Frankenstein's monster writ large. All we have is a blind faith that it will be benign. Whether this is the case remains to be seen, but we have already put ourselves on the path wherein there is no turning back. I really hope we got it right, or we are fucked.
10  Bitcoin / Mining speculation / $12366, first data point. on: October 24, 2013, 02:37:48 PM
$12366 is the amount of money a consumer must spend on average today to have delivered to their home within 2 days the 534 Gh/s currently required to mine 1 bitcoin per day (24 hours).

This number was arrived at by using ebay prices for obtaining 60 Gh/s Butterfly units, the cheapest source I could find ($1400 each) for immediate delivery of hash.

I do not have any historical data for cost of immediate delivery of hash vs amount required to mine 1 btc/day, so I consider this the first data point. It is also important to note that every day more hash comes online, meaning that this datapoint is only really valid until the next diff increase, and is only an average of the cost across the entire 2048 diff bracket we are currently in.

While manufacturers can certainly generate hashing units at a far lower cost, I am looking at only what end user consumers must pay.

If others have information on previous datapoints it would be of some value for plotting the trends and someday determining the direction and velocity of the changes, and forecasting future prices of bitcoins.
11  Economy / Auctions / <<<Satoshi Squared>>> Auction-based advertising on: October 18, 2013, 01:55:00 AM
12  Economy / Speculation / His timeline was way off but most of his predictions arrived.... on: October 16, 2013, 04:08:57 PM
Fun read. Maybe we should write up a new one...

http://www.thebitcointrader.com/2011/10/365-days-of-bitcoin.html

Tuesday, October 4, 2011
The Next 365 Days of Bitcoin
Day 1: Seeing an ad on his college dorm's notice board, a teenager downloads Bitcoin. His download is the 933,112th.

Day 2: Someone in L.A. buys a Mercedes SLK grill off of Craigslist, for Bitcoin.

Day 9: The estimated next Difficulty appears to bottom out. The long steady climb upward continues.

Day 11: A member of the Bitcointalk Forums reports that his Bitcoins have been stolen from Mt.Gox. No one cares.

Day 17: A Bitcoin is still worth $5. Conspiracy theories begin to propagate through the Bitcointalk Forums. The CIA is the primary suspect.

Day 18: Bitcoin hits $5.50. The CIA is the primary suspect.

Day 25: All-time Bitcoin client downloads hit 1,000,000.

Day 27: At least three people in the United States go out to Halloween parties dressed as Satoshi Nakamoto. Satoshi Nakamoto dresses up as Lady Gaga.

Day 29: The BitLotto jackpot hits 500 BTC, the largest ever.

Day 31: Bitcoin.com comes out of Beta. No one really notices, though Tradehill sign-ups begin to climb quickly as new users search for Bitcoin.

Day 39: On a Bitcoin poker site, the first 100-player non-freeroll tournament begins. The Bitcoin poker segment begins to pick up steam.

Day 41: The French courts declare Bitcoin a "virtual currency," subject to the same laws that govern fiat currencies. Bitcoin's value nearly doubles in less than a day.

Day 46: Greece officially defaults on its debt, starting a cascade of bank credit rating downgrades.

Day 59: In the freezing cold streets of Manhattan, the protest continues to grow; the protesters increasingly fed by food paid for with Bitcoins.

Day 61: Open-Transactions goes live, changing the way wallets are stored and traded, forever. Confirmation wait-times will eventually become a thing of the past.

Day 67: Bank runs begin in Europe. The Euro continues its downward spiral towards parity with the US dollar.

Day 71: The first Bitcoin point-of-sale devices go into operation in New York City.

Day 89: The Occupy Wall Street protests are now a nation-wide phenomenon. As the protesters increasingly shun the banks, Bitcoin becomes their predominant way of exchanging money amongst each other.

Day 91: Bitcoin Realty sells its first piece of property.

Day 92: A kid in Germany receives five Bitcoins for Christmas. He quickly blows them all on Dragon's Tale.

Day 94: The US Federal Reserve conjures over a trillion dollars out of thin air to help weaken the US dollar, as American exporters are getting hit hard by the increased strength of the currency.

Day 101: Gold continues to hit record highs in all currencies.

Day 106: Bitcoin has convincingly returned to its three-year up-trend, threatening to break the all-time high set in June, 2011.

Day 117: A major exchange is hacked. No Bitcoins are stolen, but the community is shaken.

Day 122: The Wall Street Journal publishes an article on Bitcoin, asking the question, "is it time for Bitcoin?"

Day 126: Bitcoin's value doubles over the course of three days.

Day 135: Ruxum finally comes out of beta. Backed by former banking executives, it gains significant marketshare among wealthy investors.

Day 141: Anderson Cooper spends Bitcoins, live on CNN; he buys lunch.

Day 156: As the global economic collapse crushes banks worldwide, bank runs begin in the United States.

Day 161: A new crypto-currency is unveiled. No one cares.

Day 166: Someone buys a burger at a national chain restaurant, using Bitcoin.

Day 176: Version 1.0 of the Bitcoin Client is released. After more than three years, Bitcoin is no longer in beta. The client is robust, feature-rich, and grandma-friendly.

Day 184: Bit-Pay holds a "Miss Bitcoin" beauty pageant.

Day 192: A Bitcoin Conference is held with over 500 attendees. There is major media coverage - for real.

Day 201: Over 1000 people, world-wide, now earn their primary take-home pay in Bitcoins.

Day 212: Satoshi Nakamoto reveals himself to the world, declaring Bitcoin to be his Magna Carta. The FBI picks him up for questioning. He will not be seen again for 22 days.

Day 219: The first Fortune-500 company starts accepting Bitcoin as a form of payment.

Day 234: Satoshi Nakamoto is released by the FBI and goes into hiding.

Day 266: An arrest is made - the first time the identity of a drug dealer, conducting business on Silk Road, has been determined. Bitcoin's value drops 10% in a matter of minutes.

Day 291: 90% of Bitcoin transactions are now completed with zero confirmations. The double-spend is almost unheard of.

Day 301: The Bitcoin network hits one peta-hash.

Day 310: An Eastern-European country officially recognizes Bitcoin as a legal currency to supplement its own.

Day 322: While gold's value is consistently increasing, Bitcoin has decisively out-performed gold for the year, making Roger Ver look like a pretty smart guy.

Day 330: The first major online retailer begins accepting Bitcoin.

Day 336: Chinese Bitcoin users out-number American Bitcoin users, for the first time ever.

Day 347: Bitcoin's value begins to rise quicker as the 210,000th block is approached.

Day 365: Someone's actual grandmother downloads Bitcoin. She is the 24,235,920th downloader. Gavin Andresen is pleased.


13  Economy / Economics / .gov seizure... could the community seize it right back? on: October 14, 2013, 11:59:30 AM
Just curious here, but it seems to me that the community as a whole has control over what transactions are valid and which are not. Would it be possible to create a fork in the blockchain that contained a transaction from the .gov wallet that houses the seized Silk Road coins that send them to another wallet? Perhaps to bitcoin.org, or a charity, or to somewhere where it will do some good for the community at large.

Of course, 51% would have to agree by updating to new clients. But my question is not so much if we should try to do it, but rather if it is technically possible. Thoughts?
14  Economy / Securities / <<< Gee Unlimited>>> on: September 16, 2013, 08:10:15 AM
Introducing Gee Unlimited!

Gee Unlimited has spent considerable private funds, time and research in the creation of a new company. Our first project, Satoshisquared.com has moved from beta and is now ready for primetime. The focus of this company is to find new and innovative income generating opportunities within the bitcoin space.

SatoshiSquared.com embodies the spirit of innovation that we expect will dominate our portfolio. The chaingame space, while iinitally interesting, provided no value to players other than the expectation that another player would repurchase their bitcoin "gem". SatoshiSquared.com provides a proven advertising benefit to all players, both individual and business alike by providing both text and hyperlinks. The advertising alone is worth the purchase of a square, with the added bonus of 190% payouts for every square repurchased making it almost irresistible. It has become immensely popular with advertisers as well as with players, providing an easy and fun experience with off-the-block-chain action as a standard. Beta testing provided us with over 100 verified accounts in the first month alone.

Site Income

Each time a square is sold, the house makes 10%. Once a square has expired, the cost of the square resets to 0.000001 btc with the house collecting the difference.

Investor Profit

Share dividends are equal to 90% of monthly profit. Gee Unlimited will not ask investors to shoulder the burden of expanding or developing other projects. The dividends received by the founder shares will be used for expansion and development of this project and future projects. We are looking to expand, not to fill our pockets with investment money. Our only expected profit is in the increased value of the founder shares. The remaining 10% will be utilized to pay operating expenses. Nothing is free, unfortunately.

IPO Details

Total market value: 500 BTC
Each share is valued at 0.001 BTC, in total there are 500,000 shares
This IPO is the sale of 50% of total equity: 250,000 shares, for 250 BTC.
Minimum purchase block is 1 BTC or 1000 shares.

There will not be any other shares issued. None. Ever. Period.

The founder shares will be locked as follows:

On January 1st 2014 up to 10% of founder shares may be sold.
On July 1st 2014 up to an additional 10% of founder shares may be sold.
On January 1st 2015 all shares are unlocked.

Exchanges

This IPO will not be performed on any of the generally accepted exchanges for a variety of reasons, the least of which is ensuring there are no debacles as we have seen previously. Gee unlimited looks forward to players in the exchange space creating passthrough securities once the IPO has completed.

IPO date

Gee Unlimited will begin accepting share purchases on Noon, EST, October 1st 2013. All purchases will be accepted through PM only, and issued in order of forum timestamp.

Shareholder records

A full list of shareholders and the number of shares of each will be maintained by Gee Unlimited for distributing dividends. These dividends will be paid the first day of every month. Anyone requiring a verification of shares or a transfer of shares should contact us here through PM.

Board of Directors

There is currently no policy in place for a board of directors. Once the IPO has been completed, It is expected that consultations with major shareholders will yield a workable policy wherein a board is elected.

Financials

Yes, everyone wants to see profit statements. As investors in other securities, we do too. However, we respectfully decline to do so, as it would be imprudent to do so at this time. Unfortunately, we feel it is important to be less than transparent  for a variety of reasons. Once the IPO has completed we expect to provide detailed public monthly reports.

Why?

Why should I get involved in this? There are any number of reasons, and probably an equal number of reasons not to. Gee Unlimited is not promising something that does not exist. Satoshisquared.com already exists and is generating income. We start from here and move forward.






15  Economy / Economics / Some points of deflationary currency on: August 31, 2013, 07:48:27 PM
The models for a deflationary currency are really not as established as inflationary, so people tend to not really understand the differences.  When the value of a unit of currency is continually rising, one of the best investments will always be buy the currency and hold. This is because the prices of everything as priced in the defationary currency will continuously drop, as opposed to always rising as in an inflationary currency. You can get more for the same unit of currency next week than you can by spending it this week. Savers get wealthier every day by doing nothing.

In an inflationary currency the opposite is true. The only way that your currency can be out there working for you is if you exchange it for something else. You must hold an asset, such as land, commodities, equities, bonds, anything that will generate an additional cash flow to at least compensate for the lost value of holding the currency. Infaltionary currency was designed to be spent, and deflationary currency is designed to be held.

Equities are not immune to this fundamental feature of a deflationary currency. If a stock costs 1 btc and the value of btc doubles, all things being equal the stock price should move to 0.5 btc. This is a simple concept that everyone should agree upon. The problem once again, is that you went nowhere. Had you held btc your wealth would have doubled. But since you are holding an asset, you gained nothing. This is fundamentally true in a deflationary currency system. You see this problem every day when people purchase asic miners, although it is magnified and masked by difficulty increases.

The deflation is like and endless juggernaut, it never stops, and the base prices of everything priced in it must by definition drop and drop and drop. Market fluctuations and speculation can mask it for a time, but in the end it is relentless as gravity and it will reign supreme in the end.

Equities can certainly counteract this effect, by the inherent creation of value by the underlying company. A company may for example cost 1btc per share, and return 0.01 btc per week. This is enough to account for a 1% per week increase in the value of btc. If you purchase this stock for 1btc, hold it for a week, get your dividend, and the value of btc increases by 1% you are exactly where you would have been if you had just held btc, because the value of the stock should have decreased in a rational market by 1%.

Rumors, announcements, FUD, competition, momentum, perception,these things can also affect price. They can cause big moves and make everything look crazy to an analyst trying to sort it out. But working steadily and continuously in the background the gravity that is deflation will eat the value from any held asset. Even an asset such as ASICminer. In infaltionary currency, any asset that is not increasing in value is dead money. In a deflationary currency, an asset that that is not decreasing in value is a win, and if it rises at all you have really really really done well.

So, in conclusion, any equity that can consistently provide dividends to the shareholder at at rate that exceeds the rate of increase in the currency is better than just buying coins and holding. If it cannot, it needs to be taken out in the yard and shot because you are losing value every day you hold it.
16  Economy / Gambling / <<(( Satoshi Squared ))>> Announces free btc with every new account on: August 20, 2013, 11:44:24 PM
17  Economy / Services / How to advertise your bitcoin-related website on: August 18, 2013, 06:05:29 PM
So, I started a new site http://satoshisquared.com, and then got about the business of getting the word out. Unfortunately, many of the things available for marketing a website don't really seem to apply in the bitcoin world. For example, where you land on Google is not generally as important as how well you are known on the forums. There appear to be literally hundreds of folks trying to get into the business of promoting your site, but we are still in the "Wild West" phase and it is hard to tell what services are legit and which will just take your BTC and laugh as they take their boat to the Bahamas. I am looking for suggestions for quality advertising as well as services that should be avoided. With any luck, this thread should provide other people in the same boat as I with some good information. Good faucets, bad faucets, good ad distributors and circulators, bad ones, banners, press releases, even general promotion services.

What works and what does not?
What is worth it and what is not?
Who will rip you off?
How do you get the word out?
18  Economy / Games and rounds / Satoshi Squared: New take on chaingames, fun to play on: August 13, 2013, 04:01:43 PM
Hello World! Meet Satoshi Squared, http://satoshisquared.com

Currently running live beta, throw a few satoshis in and give it a try! BTC and LTC both welcomed! Always looking for suggestions for improvement, tell us what you think!



What is this thing?

Satoshi Squared is a web-based ad platform and auction site. All purchases are performed off of the blockchain to prevent unnecessary blockchain spamming.

How do I get started?

After activating your account, you can make up to 10 ads and buy one or more of the squares on the home page. Once purchased, your ad will be displayed in that square until someone else repurchases the square from you.

How does it work?

Each square begins at 0.000001 BTC or LTC. Every square has a unique timer duration. Whenever a square is purchased, the timer resets to its maximum and begins counting down once more. If the timer for any square reaches zero, the cost of the square resets to 0.000001. When a square is purchased, the space immediately becomes available for purchase with a doubled price.

What happens when my square is repurchased?

When your square is repurchased, your account will be credited with 90% of the purchase price paid by the repurchaser Your ad will be removed and replaced by an ad chosen by the new purchaser. If you choose, you can enable email notifications to alert you that one of your squares has been repurchased.

Example: Joe buys a square for 0.00024 BTC. He chooses one of his ads and now his ad is displayed in the square. The counter for the square resets to its maximum and begins counting down. The square is now available for repurchase for 0.00048. Tom decides he wants to buy it, so he pays the 0.00048 and places his ad in the square. Joe's ad is removed and Joe receives 0.000432, which is 90% of the new purchase price. The counter resets to zero and begins counting down again. The square is now available for purchase for 0.00096

What if the counter reaches zero on my square?

Your ad stays in the square, but the price resets to 0.000001.

What does the ad include?

The ad includes a hyperlink at the top with fully customizable colors, as well as four lines of text. Note: Hyperlinks are not allowed in the text area.

Are there any restrictions on withdrawal?

We require a minimum withdrawal of .01 BTC or LTC and one ad purchase in the previous week. This policy was put in place purely to prevent blockchain spamming. We want to be good bitcoin citizens.

Can I convert LTC to BTC?

We provide separate wallets for BTC and LTC and do not provide conversion services. Your account will have separate balances for BTC and LTC.
19  Alternate cryptocurrencies / Altcoin Discussion / Satoshiquared.com accepting both LTC and BTC for advertising on: August 11, 2013, 12:37:58 PM
Hello World! Meet Satoshi Squared, http://Http://satoshisquared.com

Currently running live beta, throw a few satoshis in and give it a try! BTC and LTC both welcomed! Always looking for suggestions for improvement, tell us what you think!



What is this thing?

Satoshi Squared is a web-based ad platform and auction site. All purchases are performed off of the blockchain to prevent unnecessary blockchain spamming.

How do I get started?

After activating your account, you can make up to 10 ads and buy one or more of the squares on the home page. Once purchased, your ad will be displayed in that square until someone else repurchases the square from you.

How does it work?

Each square begins at 0.000001 BTC or LTC. Every square has a unique timer duration. Whenever a square is purchased, the timer resets to its maximum and begins counting down once more. If the timer for any square reaches zero, the cost of the square resets to 0.000001. When a square is purchased, the space immediately becomes available for purchase with a doubled price.

What happens when my square is repurchased?

When your square is repurchased, your account will be credited with 90% of the purchase price paid by the repurchaser Your ad will be removed and replaced by an ad chosen by the new purchaser. If you choose, you can enable email notifications to alert you that one of your squares has been repurchased.

Example: Joe buys a square for 0.00024 BTC. He chooses one of his ads and now his ad is displayed in the square. The counter for the square resets to its maximum and begins counting down. The square is now available for repurchase for 0.00048. Tom decides he wants to buy it, so he pays the 0.00048 and places his ad in the square. Joe's ad is removed and Joe receives 0.000432, which is 90% of the new purchase price. The counter resets to zero and begins counting down again. The square is now available for purchase for 0.00096

What if the counter reaches zero on my square?

Your ad stays in the square, but the price resets to 0.000001.

What does the ad include?

The ad includes a hyperlink at the top with fully customizable colors, as well as four lines of text. Note: Hyperlinks are not allowed in the text area.

Are there any restrictions on withdrawal?

We require a minimum withdrawal of .01 BTC or LTC and one ad purchase in the previous week. This policy was put in place purely to prevent blockchain spamming. We want to be good bitcoin citizens.

Can I convert LTC to BTC?

We provide separate wallets for BTC and LTC and do not provide conversion services. Your account will have separate balances for BTC and LTC.
20  Economy / Service Announcements / Satoshi Squared: Cheap advertising for fun and profit on: August 10, 2013, 03:10:07 PM
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