What happened to BitBar (BTB)

[lazydna]

copy pasta coin.
'consolidate your digital wealth' what the fuck does that even mean?  instead of 1000, you get 1 and they call this a feature.

[GSnak]

A better question is, what happened to TruCoin? He amped up his FGPA BitBar USB Key and we haven't heard anything since.

[calian]

If anyone is seriously considering spending money on BTB be aware that it had a 296.234% inflation rate at last check. This was the highest of any "coin" listed. Rare indeed. https://bitcointalk.org/index.php?topic=227395.0

[A L I E N]

If anyone is seriously considering spending money on BTB be aware that it had a 296.234% inflation rate at last check. This was the highest of any "coin" listed. Rare indeed. https://bitcointalk.org/index.php?topic=227395.0

This is nothing profound.  Of course a newer currency like Bitbar that has a money supply of 3K is going to have greater money supply growth rate than a mature coin like BTC (the OP even mentions this).  However, any estimation of money supply growth is ultimately irrelevant since there is a set limit of 500,000 bars in the source.

[Balthazar]

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually.  Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem

+1; exactly.

This is the worst coin released to date. Good ideas, terrible launch

This is the same for Novacoin no? Correct me if I'm wrong. How is Novacoin doing now?

No, it's not the same. NVC instamine (my rig mined 110k coins before difficulty stabilization, it's ~25% of current totalsupply) was destroyed publicly. I don't think that TruCoin/bitbardev capable to do something like this with their 2500+ BTBs instamine. Copy-paste and trolling the only things they are capable to do.

And you should remember that instamine causes another form of centralization, centralization by early adopters. It's deadly for PoS system because it turns currency into solidcoin. We have a couple of trusted wallets and the regular miners doesn't decide anything.

[Sondey10mg]

I recommend people should ignore the trolls(bashers and Trucoin).  The Bitbar dev. is active and currently working on an update.  It is currently #1 CoinChoose when adjusted for stales, even above LTC.  BTB has one of the best designed difficulty adjustments and proof of stake blocks so it will never "die".  

So people who don't like this coin for a good reason are trolls? That's narrow minded

[Killiz]

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually.  Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem

+1; exactly.

This is the worst coin released to date. Good ideas, terrible launch

This is the same for Novacoin no? Correct me if I'm wrong. How is Novacoin doing now?

No, it's not the same. NVC instamine (my rig mined 110k coins before difficulty stabilization, it's ~25% of current totalsupply) was destroyed publicly. I don't think that TruCoin/bitbardev capable to do something like this with their 2500+ BTBs instamine. Copy-paste and trolling the only things they are capable to do.

And you should remember that instamine causes another form of centralization, centralization by early adopters. It's deadly for PoS system because it turns currency into solidcoin. We have a couple of trusted wallets and the regular miners doesn't decide anything.

You did a great thing by destroying those coins to allow Novacoin to move forward Balthazar.
I was merely referring to the fact that both NVC and Bitbar have the same reward system, based on PPCoin. Whereas, basically, the lower the difficulty, the higher the reward, and vice versa.
An instamine is unavoidable when using this system and starting from a very low difficulty.

Hopefully bitbardev could do something similar to help bring more credibility to Bitbar.

[mr_random]

To be frank there is a lot of hypocrisy on this forum. The very same people who literally cried like babies over bitbar's starting difficulty and instamining immediately jumped onto YACs when they came out shortly afterwards, which had exactly the same problem (check what % of the day 1 coins make up the total money supply). They all turned a blind eye when they hoped it was a situation they could personally benefit from. Since then times have changed. Clones are everywhere and no-one raises an eyebrow about starting difficulty anymore.

BitBar is based on the PPCoin source code, which YACoin is also based on. 2 million ppcoins were made on day 1, it took months for that to look less... even now it's still 10% of the money supply. And it started at 256 difficulty. Bitbar has become a curiosity now, nothing more than an experiment in economics.

[digitalindustry]

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually.  Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem

+1; exactly.

This is the worst coin released to date. Good ideas, terrible launch

This is the same for Novacoin no? Correct me if I'm wrong. How is Novacoin doing now?

No, it's not the same. NVC instamine (my rig mined 110k coins before difficulty stabilization, it's ~25% of current totalsupply) was destroyed publicly. I don't think that TruCoin/bitbardev capable to do something like this with their 2500+ BTBs instamine. Copy-paste and trolling the only things they are capable to do.

And you should remember that instamine causes another form of centralization, centralization by early adopters. It's deadly for PoS system because it turns currency into solidcoin. We have a couple of trusted wallets and the regular miners doesn't decide anything.

^^

that - also - nibble had zero pre-mine or insta - mine block reward was lowered - has a Small but dedicated team -  and will soon be literally promoting on the streets , and has unofficial support from people in one of the largest B4nks in the world < misspelling that for Google   .

can't be official of course  -

[FiatKiller]

I think the biggest negative issue was mining fractions versus a few a day at least. That's ok with BTC because it's worth over $100 each. It's just bad psychologically, even though the value of what's mined SHOULD be all that matters - in reality it's not.  Also, the long confirm times and waiting 5 days to be paid from a pool is just horrible.

[Badman0316]

bitbar volume was small
no one care it

[krasnyoktyabr]

^^

that - also - nibble had zero pre-mine or insta - mine block reward was lowered - has a Small but dedicated team -  and will soon be literally promoting on the streets , and has unofficial support from people in one of the largest B4nks in the world < misspelling that for Google   .

can't be official of course  -

Absolutely false. Approximately 50% of the nibble in existence today were mined on the first day, and we are around a month of nibble existence. The idea was there, the intent was there, but the execution was not.

[legitnick]

Its already dieing out. Just like I said it would in may