Testnet bitcoin value?

[dothebeats]

Testnet bitcoins? Hmm, why would it contain value in the first place when everyone can produce millions of it without having a sweat?

[OnkelPaul]

Testnet bitcoins? Hmm, why would it contain value in the first place when everyone can produce millions of it without having a sweat?

Actually, producing millions of them in the shared testnet isn't so easy. You can do that when you run your own testnet, of course, and for most software tests that should suffice, but I think the "official" testnet still offers some additional uses.

Onkel Paul

[achow101]

Testnet bitcoins? Hmm, why would it contain value in the first place when everyone can produce millions of it without having a sweat?

Actually, producing millions of them in the shared testnet isn't so easy. You can do that when you run your own testnet, of course, and for most software tests that should suffice, but I think the "official" testnet still offers some additional uses.

Onkel Paul

Actually, I don't think it would be very hard to do that on the actual testnet. The total hashrate on the testnet of only a few THs. You could get a few miners and essentially take over the mining on the testnet.

[BitAurum]

Testnet bitcoins? Hmm, why would it contain value in the first place when everyone can produce millions of it without having a sweat?

Actually, producing millions of them in the shared testnet isn't so easy. You can do that when you run your own testnet, of course, and for most software tests that should suffice, but I think the "official" testnet still offers some additional uses.

Onkel Paul

Actually, I don't think it would be very hard to do that on the actual testnet. The total hardware on the testnet of only a few ths. You could get a few miners and essentially take over the mining on the testnet.

Taking over the mining on the testnet network has no use to the person doing it. It would be more profitable for him to use those miners to mine real bitcoins.

[dothebeats]

Testnet bitcoins? Hmm, why would it contain value in the first place when everyone can produce millions of it without having a sweat?

Actually, producing millions of them in the shared testnet isn't so easy. You can do that when you run your own testnet, of course, and for most software tests that should suffice, but I think the "official" testnet still offers some additional uses.

Onkel Paul

Actually, I don't think it would be very hard to do that on the actual testnet. The total hardware on the testnet of only a few ths. You could get a few miners and essentially take over the mining on the testnet.

Taking over the mining on the testnet network has no use to the person doing it. It would be more profitable for him to use those miners to mine real bitcoins.

But the argument still stands: someone can produce millions without even sweating for it if he has a couple of TH/s at hand. The thing is, it would be on a loss, given that testnet bitcoins wouldn't be valued in any way.

[amaclin]

But the argument still stands: someone can produce millions without even sweating for it if he has a couple of TH/s at hand. The thing is, it would be on a loss, given that testnet bitcoins wouldn't be valued in any way.

Someone can produce. You can not.

OK. I will buy 5 millions of testbtc for 10 btc.
Are you ready to ship them tomorrow?

[Raimonn]

Tesnet has no value because was made for testing, no for trading it. If you need some to make some tests on your app or wallet, provably you can buy some to other developer, but there is no exchange.

[superresistant]

Tesnet has no value because was made for testing, no for trading it.

That's not an argument. Often, things are used in a different way than they are supposed to.
Humans can speculate on anything. Testnet bitcoins are no different than bitcoins.
If you can speculate on one, you can speculate on the other.

[achow101]

Tesnet has no value because was made for testing, no for trading it.

That's not an argument. Often, things are used in a different way than they are supposed to.
Humans can speculate on anything. Testnet bitcoins are no different than bitcoins.
If you can speculate on one, you can speculate on the other.

True, but if you actually read the thread, you would know that their sole purpose of testing is enforced. If testnet coins start having value and are used for things other than testing, then the entire testnet network will be reset. This has already been done in the past as we are already on the third iteration of the testnet.

[amaclin]

You wouldn't want to own or trade Testnet Bitcoins as the developers regularly reset them when testing.

Lie

[superresistant]

Tesnet has no value because was made for testing, no for trading it.

That's not an argument. Often, things are used in a different way than they are supposed to.
Humans can speculate on anything. Testnet bitcoins are no different than bitcoins.
If you can speculate on one, you can speculate on the other.

True, but if you actually read the thread, you would know that their sole purpose of testing is enforced. If testnet coins start having value and are used for things other than testing, then the entire testnet network will be reset. This has already been done in the past as we are already on the third iteration of the testnet.

If it is reset often then it would be a crazy idea to speculate on it but it could be seen as a game for speculator that love HYIP and ponzi schemes.
I already seen some exchange thread. Testnet bitcoins must have a value, even a small value so it would be possible (but crazy as a ponzi) to speculate between resets.

[private investor]

No they don't have value and if you find someone who sells them; then he's a scammer.
Also testnet's height is almost double of the current bc. http://tbtc.blockr.io

[superresistant]

No they don't have value and if you find someone who sells them; then he's a scammer.
Also testnet's height is almost double of the current bc. http://tbtc.blockr.io

I am not claiming anything. I did a search on the forum and found trading threads of testnet bitcoins.

https://bitcointalk.org/index.php?topic=5914.0
https://bitcointalk.org/index.php?topic=196000.0

Usually there are no seller of testnet bitcoins, it is mostly people that want to buy big quantities at once that create those threads.

Sometimes, they get testnet bitcoins for free : https://bitcointalk.org/index.php?topic=1010120.0

But I guess it depend of the quantity the need.

[shorena]

No they don't have value and if you find someone who sells them; then he's a scammer.
Also testnet's height is almost double of the current bc. http://tbtc.blockr.io

I am not claiming anything. I did a search on the forum and found trading threads of testnet bitcoins.

https://bitcointalk.org/index.php?topic=5914.0

4.5 years ago created...

https://bitcointalk.org/index.php?topic=196000.0

1.5 years ago created, because they needed a high amount of coins.

Usually there are no seller of testnet bitcoins, it is mostly people that want to buy big quantities at once that create those threads.

Sometimes, they get testnet bitcoins for free : https://bitcointalk.org/index.php?topic=1010120.0

But I guess it depend of the quantity the need.

There is a faucet that spits out 25 tBTC for the first claim. I still have 25 tBTC for show on my phone. If anyone needs a high amount, they can just ask in the appropriate section and Im pretty sure they will easily get 100+ tBTC without paying a single satoshi.

[~Bitcoin~]

I have never heard about this coin seems to be altcoin or just a coin for testing as i have seen somewhere in thread it can be reseted. Quite nobe on altcoin also while searching don't find any exchanger for testnet.

[Bitcoinpro]

TestNet coins are worthless, but useful. They are useful because they are worthless. If you will add value to them, they will be useless, therefore worthless.

Source

This is basically it

Are we talking about testnet coins or alts   

[Bitcoinpro]

No, why should it have any value?

would seem to hold more value than some of the alts

what alt? not certainly those in the first top 10-20, unless you're not talking about marketcap

it was a joke but funny and just a reminder to be careful

when chosing ur alt,

[knightkon]

I just ran across this thread and I have to verify, these coins are there for the purpose of testing newly designed sites?  If so, why are there faucets which you can collect them and what is the point of collecting them?   Thanks for answering the questions in advance.

[Slark]

Testnet bitcoins never should have any value. How something so unstable can be even considered as legit asset?
Developers can create and destroy testnet bitcoin as they please, they are not mined therefore can't be viewed as viable cryptocurrency.

[achow101]

I just ran across this thread and I have to verify, these coins are there for the purpose of testing newly designed sites?  If so, why are there faucets which you can collect them and what is the point of collecting them?   Thanks for answering the questions in advance.

The point of testnet is to test new software that uses bitcoin without actually using anything of value. It is also used for experimenting with the network. It prevents people from losing money while they are experimenting.

The point if faucets is to distribute testnet coins so that people can use them for testing. Generally people should and will return the testnet coins to the faucet so that others can use them too.