Do I have to make an account to vote or will it be something simple?
PMd |
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All payments sent, looking for more voters! (each person can only vote once).
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The offer that was in this thread is no longer available. Many thanks to all who took part  |
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I think that we are already at the stage where no future mining investment will pay for itself. This means fewer miners and therefore fewer people with Bitcoin to spend. This either means that Bitcoins become more valuable because they are harder and more costly acquire or, more likely, the whole thing will pretty much die because business won't bother to make the investment to accept it because there are fewer people with it and so it will lose its current popularity and never gain any more traction.
The best thing going for Bitcoin was the democracy of mining in that anybody with a graphics card can generate a small amount, now you need serious investment in ASIC kit that is unlikely to make a return. All the GPU's are now useless and so the generation phase that was anticipated in the original design has ended. Without significant market share and large transactions fees, its pointless for anybody to make an investment in mining.
So my prediction is a slow downward spiral in value from now on. Meanwhile hash rates will continue to rocket until the ASIC manufacturers start to fold resulting in one or two large miners left operating i.e. a large likelihood of the dreaded 51% scenario. Then Bitcoin will be truly worthless.
It's a real shame, I really wanted it to succeed but I think ASIC's came too soon in its life cycle and killed it.
I disagree, ASICS are populating the world, thousands and thousands of them being built and sold. Bitcoin mining is the only thing an ASIC does, once someone has an ASIC they are a guaranteed bitcoin supporter. The ASIC population of the world is setting up the basic network, the core (dispersed) infrastructure that forms the foundation of bitcoin's future. It will just take a few years for the whole thing to be rolled out: Mass-ASICS and an upgrade of the exchanges is what's currently happening. ASICS aren't killing bitcoin at all, they are simply the foundation and they will get cheaper too, and having a network of tens of thousands of ASICS (will probably end up being hundreds of thousands) is plenty! We don't all need to be mining. More companies developing ASICS is good news! More ASICS being built at all is good news, after all, they are BITCOIN ASICS! |
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It's pretty crazy, Ripple emailed saying they will be giving away more at the end of this month, so I wouldn't go rushing in to buy any just yet.
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In time it will become simplified for everyone. It will do so inevitably or at least something that uses the bitcoin technology will. Bitcoin qt is still in 'beta', it's not even a 1.0 release yet! It will take a few years to really integrate into society and become very well developed. This is just the whole 'bitcoin concept'. I doubt people will end up using Bitcoin QT. Once there is a respectable web-wallet that people trust they will start using it. So when/if paypal add bitcoin support, they would basically be becoming the most simple and already-trusted way to use bitcoin.
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Has someone gone to their offices and found out who is behind the company?
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I would place a bid , I'm just not trusting BTER with my coins.
Why not? Do they have a bad security record? |
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The trick here is that you first need to mine meatcoin, because, as we all know, if you don't mine your meat, you can't have any pudding.
How can you have any pudding if you don't mine yer meat?
ROFL |
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Anyone have word on when BTB is going on BTC-E?
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I will be holding the ones I have for awhile. No need to sell. I believe bitbar can turn into something decent, especially once it runs through the psychological (and price) barrier at 1BTB:1BTC on the exchanges. I made enough decent money on Feathercoin and Chinacoin, hah!
YAC is another one to watch, especially if it keeps its CPU-only advantage (or if it goes to GPU and the GPUs aren't very much more efficient, as the author claims will be the case).
Speaking of psychological barriers...the word "bar" is shear genius. People knocking this because it doesn't have infrastructure...I just laugh...Bitcoin's had 4 years...this has had what...4 days...and the roads have been paved by bitcoin...this is a hit waiting to happen...and the press coverage...oh the media...this will build hype for the whole community. I'm going to pop some tags people...only 20 bars in my pocket...thanks for selling so cheap yesterday...mining only got me like 0.7, and I've been at it for four days before the network rate tripled! I agree this could be a hit in the media once we get bitbar up to a certain adoption (i.e. on a few exchanges, stable/rising price that is higher per unit than BTC, etc). Journalists love a novel thing like that .... "Bitcoins expands into bars" +1 +1 media would love that concept.. BitBar is like a crypto version of the Million Dollar Homepage, the first time it works, the second time it doesn't. So the next very rare coin that comes along will do worse than bitbar. |
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Bitbar: Still confused what bitbar is.
BBQCoin: I thought this shit was dead, back from the grave, Mined for fun and now it's too hard to mine.
MinCoin: Like the idea of small block quantity, mined for a while. Got too hard to mine.
Feathercoin: nothing new, mined for a bit because it got good reception. Now too hard to mine.
Chinacoin: Couldn't get anything to work, mined nothing. WTF.
YaCoin: Awsome idea to mine with only CPU, now too hard to mine. All my blocks are orphans. A little complicated to tell if it's mining and hard to set up.
JunkCoin: WTF I was asleep, too late to mine... starting to lose hope.
RoyalCoin: OK only a couple hours late. No blocks, confusing as shit to get the wallet to sync...
Back to BTC/LTC?
Well said, went something like that for me: BitBar: Dumb, overhyped, why the hell anyone would think changing the name from "coin" to "bar" would make it more valuable is beyond me. FeatherCoin/CHNCoin/BBQCoin/JunkCoin: loved it, got in early mined a bunch, sold out quickly at under market rates and enjoyed the ride. RoyalCoin/YAC: Didn't get in early, mined a few coins for practice, won't mine anymore. BTE/Mincoin: Interesting, like these two, still mining the latter, holding a few of the former. Hope for these alts gets more and more dim with each new one. I enjoy mining and trading, but BTC/LTC are in it for the long haul. Bitbar will only ever have 2800 bars/coins, that's why it's almost reach parity with BTC already at bter. |
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Bitcoin might not be the coin to go to the mainstream, though I am fond of it. It has the most secure network and psychologically age = trust, and it is the oldest. The 1-2 hour confirmation time is a problem though. There's no need to worry about too many alt coins messing things up, the eyes of big investors in Silicon Valley have been caught as well as many others, the ball is rolling. The interest from Silivon Valley investors is very important. I was there in the blogging boom having some success with my blog networks and avidly following Tech Crunch. That was about 6 years ago and now anyone can start a free blog somewhere from many different websites. Blogs are now just a basic part of the internet, not to mention social media accounts are microblogging platforms, they are basically blogs too. Cryptocurrencies will be like that, where pretty much every website you can login to you will be able to send cryptocurrncy to. A web-wallet for cryptos will be a standard feature and different websites will compete for you to use them as a wallet. You'll be able to tip everyone for anything. There's no way of knowing which cryptos will make it, but diversifying is definitely a good idea.
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To people thinking that this is a competition and that one BTB can never cost more than one BTC:
How are you thinking? These are not physical bitbars. Just like you can't hold a bitcoin in your hand. They are just strings of numbers which we call what we want to. We could call 0.001 BTB a bitcake and say it's worth 0.1 BTC then you would agree because it's less than 1 BTC. Or we could call 1000 LTC a litebar and now suddenly it's worth more than 1 BTC. Doesn't it mean that it's overvalued then? Don't put too much thinking into how much 1 bitbar or 1 litecoin is and can be worth. Look at the marketcap of the coins and divide it by the future number of coins. Then try to make an educated guess of how much the marketcap can grow.
In my opinion, when you look at it that way BTB has a lot of room to grow. It really ticks me off when people are trying to bash coins but don't even know what they're talking about.
Imo, bitbar will go the same way as all the other new alt coins lately: down as soon as they hit a major exchange. It will rise because it's rare? Come on. It will drop, because even though it's rarer than other coins, some people have a lot and want to make a quick buck. (yes, yes, that's why most are here) It's interesting that there are always coin believers with all kinds of stories about why THEIR coin should rise instead of the others. No bashing, just look at CNC, FTC, BQC since they hit the exchange. Price hasn't skyrocketed. Actually the prices of CNC and FTC DID skyrocket when they hit BTE-E, albeit briefly and in spectacular bubble fashion. |
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How many bitbars will there be in total? It's already trading at 0.8BTC  |
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Thanks
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Auction closed. btcrig.com still for sale, PM me if interested.
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BUMP - auction will close in 45mins.
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