I want to buy 1000 TRC with cash (escrow). What is 1000 Terracoins worth to you?

[psybits]

Well, I want to make history here and buy 1000 TRC with cash. As far as I can tell from all my lurking here and elsewhere this hasn't been done before.

I want to pay in USD or AUD as I want to pay in fiat - not another cryptocurrency.

I want to use an escrow service for your protection as I know I am new here (please let me know of one which accepts small amounts).

I saw recently that no one accepted an offer to buy 1000 TRC for 0.1 BTC which is about $1.30 at current rates so I will pay more than this for 1000 TRC

Let's make history guys and start giving TRC a fiat value

I am really, really interested to see what kind of response I get and what you guys (the market) value 1000 TRC at.

Are you a miner? If so let's start stimulating the TRC economy! We have to start somewhere right?

[1714988838]

1714988838

[1714988838]

1714988838

[smoothie]

TRC = 1.01 SC

[psybits]

Forgive my ignorance Smoothie - what is an SC?

Thanks!

[psybits]

P.S I am happy to arrange a Skype so you can see I am a real person

[smoothie]

SC = Solidcoin

[Deafboy]

smoothie , this is the joke of the day.
+1.01 internets to you

[psybits]

Where's all the Terracoin at? The joke of the day is that people are mining it and no one wants to sell it!!!

[crazy_rabbit]

I think we are holding out for ASIC and a free market. 1000 Terra coins takes a lot of time to mine with a reasonable rig. Reward is only 20 Coins per block. It's not like PPC where people could have MILLIONS of them and not mind selling for $1. Only people who have serious rigs and thus are foregoing a real profit mining Bitcoin have large numbers of Terracoins. Everyone else has only a few thousand. I make only about 200TRC a day- and in my mind it's definitely worth more then $1 a week. :-)

[psybits]

Hey Crazy Rabbit

Thanks for the response and enlightening me a little!

I would be mining myself but I am travelling at the moment so it is not an option for me.

I would pay you more than $1 for 1000 TRC!

Just out of interest what value would you place (in USD) on 1000 TRC at this point in time? (remembering the currency is in its infancy)

Maybe we can come to an arrangement?

As you say it already has a perceived value to the miners who spend their valuable rigs / time mining it ... and I just love the name Terracoins I mean how cool is that (finally a global currency with a global name!)

[crazy_rabbit]

Hey Crazy Rabbit

Thanks for the response and enlightening me a little!

I would be mining myself but I am travelling at the moment so it is not an option for me.

I would pay you more than $1 for 1000 TRC!

Just out of interest what value would you place (in USD) on 1000 TRC at this point in time? (remembering the currency is in its infancy)

Maybe we can come to an arrangement?

As you say it already has a perceived value to the miners who spend their valuable rigs / time mining it ... and I just love the name Terracoins I mean how cool is that (finally a global currency with a global name!)

:-)

To be honest I'm holding onto mine. Its in it's infancy yes- but the protocol isn't: It's Bitcoin. It also takes all the new commits, so it gets updated with the main stream of bitcoin, meaning it's just as secure, just as robust, and works with the Bitcoin code that is already out there.

That said- what sort of value would I put on it? Me personally, I'd put a ridiculously high value on it: .50 Cents a Terracoin. I know it sounds absolutely ridiculous, but from my point of view, I either hold onto it for ages and build services like www.terrawallet.com or www.terracoin.info in the hopes that once ASIC hit's people will jump on it big time, or it's all been a waste of time. But it won't have been such a waste of time that it wasn't worth it for me to hold onto it- if you know what I mean.  Obviously, I'm not really up for selling.

I did buy 1200 TRC for 600 LTC not that long ago- to give you an idea how much I thought a 'good deal' was. So from that point of view 1000 TRC was worth at the time about $50 to me.

[psybits]

So you run Terrawallet and Terracoin.info? Much respect.

Myself I run a couple of websites and wanted to do my bit to start having TRC (as well as BTC and LTC) exchanged for goods and services online, and I'm just looking for a stash of TRC to get me started

Thanks for your assessment of value though, interesting ...

[psybits]

I think that beginning to exchange TRC for cash, goods and services is the best thing anyone can do to give the currency a chance, rather than just hoarding them and "hoping" for the best. I respect your opinion though just my Satoshi worth ...

[crazy_rabbit]

I think that beginning to exchange TRC for cash, goods and services is the best thing anyone can do to give the currency a chance, rather than just hoarding them and "hoping" for the best. I respect your opinion though just my Satoshi worth ...

I know what you mean. I think eventually when the hashrate is higher it will be worth while to have exchanges. Right now it's low enough to be potentially problematic if it had any official value. While I guess I am technically "hoarding", I'm also technically "buying" and I'm mining so I'm not totally a stone in the system. :-)

[psybits]

Best of luck to you good sir and yes buying is indeed an activity in the marketplace

I haven't checked out terracoin.info I'll take a look now - and if you ever want to offload some TRC at near current perceived market value let me know. Like I say I'll do good things with my TRC (do things that boost the value for everyone - I really believe the future is cryptocurrencies)

[sangaman]

I don't get the appeal of pure bitcoin clones at all...

$50 for 1200 TRC? That's far more than 1200 bitcoins would have sold for in its infancy. Even when bitcoin was like a year and a half old it was worth much less than that, whereas TRC is hardly a few months old.

Isn't it fairly trivial to copy bitcoin code and protocol, do some rebranding, and start a fresh blockchain? In that sense there is really an infinite supply of TRC, since there's no limit to the amount of identical clones that can come out.

If the bitcoin experiment were to fail, there's at least a chance that some of the alt-coins that are substantially different might take its place. Or even if bitcoin succeeds, but not enough to control the entire crypto-currency market, the alt-coins that have certain advantages could be used to a certain extent in parallel with bitcoin. And even if bitcoin becomes the one and only cryptocurrency, at least alt-coin that work differently will teach us about how effective other approaches can be.

I just don't see the point of pure bitcoin clones and especially why some people assign any value to them at all. Maybe it's just because it's cheap and easy to acquire a lot of them, or maybe just a burning desire to be an early adopter and dreams of 100,000% returns like some early bitcoin adopters had. If it's neither of those, can anyone explain it to me?

[tacotime]

maybe $0.03 USD

[FuzzyBear]

I don't get the appeal of pure bitcoin clones at all...

$50 for 1200 TRC? That's far more than 1200 bitcoins would have sold for in its infancy. Even when bitcoin was like a year and a half old it was worth much less than that, whereas TRC is hardly a few months old.

Isn't it fairly trivial to copy bitcoin code and protocol, do some rebranding, and start a fresh blockchain? In that sense there is really an infinite supply of TRC, since there's no limit to the amount of identical clones that can come out.

If the bitcoin experiment were to fail, there's at least a chance that some of the alt-coins that are substantially different might take its place. Or even if bitcoin succeeds, but not enough to control the entire crypto-currency market, the alt-coins that have certain advantages could be used to a certain extent in parallel with bitcoin. And even if bitcoin becomes the one and only cryptocurrency, at least alt-coin that work differently will teach us about how effective other approaches can be.

I just don't see the point of pure bitcoin clones and especially why some people assign any value to them at all. Maybe it's just because it's cheap and easy to acquire a lot of them, or maybe just a burning desire to be an early adopter and dreams of 100,000% returns like some early bitcoin adopters had. If it's neither of those, can anyone explain it to me?

there are some advantages to a pure clone as all the open source code for BTC stuff will work for TRC very well (just need to assign the correct port etc) so most of the dev work has been done with trc

however yes adding something new to the mix can be good (PPC Proof of Stake) or (LTC faster confirm times, diff hashing algo etc) as it offers something new to the Crypto currency world, yet these can go wrong and chaines have to be re-started or abandoned....

Also the thing with TRC being a near direct clone of BTC, it does offer a new playing ground for a LOT of the blockchain protocalls that have yet to be incorporated in BTC, (kinda what devcoin and the testnet is for though i think, right?) but as TRC so similar to BTC the new elements can be played with without the risk of breaking BTC and upsetting quite a few people

just for info... 1000TRC were traded for 1btc on here in forums i saw...

and the differences of TRC and BTC:
TRC block reward = 20TRC
BTC block reward = 50BTC (at start:P)

difficulty adjustment:
TRC = 2 hours?
BTC = 2 weeks

I have also noticed in my %app_data% Terrracoin folder the file system is different to that of BTC so maybe the developers are foccusing on sorting out the blockchain speed update and storage, but this is just my speculation... as my laptop takes FOREVER to catch up with the BTC blockchain.

I'm kinda lite crazy_rabbit with my attitude to TRC, little hoarder (but willing to trade some at right price) and looking to see what happens once ASIC's hit and i am furiously working hard in the background trying to get some websites and services up for the Cryptocurrencies BTC's and ideally others... for example i run http://ppcointalk.org

[celkaris]

[..]
and the differences of TRC and BTC:
TRC block reward = 20TRC
BTC block reward = 50BTC (at start:P)

difficulty adjustment:
TRC = 2 hours?
BTC = 2 weeks

2 minutes average per block

TRC retargetting occurs every 30 blocks (1 hour, at 2 mins/block average)

TRC coins are produced 2x times faster than BTC (20 * 5 TRC compared to 50 * 1 BTC, per 10 mins)

I have also noticed in my %app_data% Terrracoin folder the file system is different to that of BTC so maybe the developers are foccusing on sorting out the blockchain speed update and storage, but this is just my speculation... as my laptop takes FOREVER to catch up with the BTC blockchain.

I already saw a few posts here about this (old threads, couldn't get my hands on them) :

TRC has been using btc development (unreleased) blockchain/storage code for a while (since it started?), this new directory structure / blockchain storage mechanism will probably appear in btc officials builds soon.

[crazy_rabbit]

I don't get the appeal of pure bitcoin clones at all...

$50 for 1200 TRC? That's far more than 1200 bitcoins would have sold for in its infancy. Even when bitcoin was like a year and a half old it was worth much less than that, whereas TRC is hardly a few months old.

Isn't it fairly trivial to copy bitcoin code and protocol, do some rebranding, and start a fresh blockchain? In that sense there is really an infinite supply of TRC, since there's no limit to the amount of identical clones that can come out.

If the bitcoin experiment were to fail, there's at least a chance that some of the alt-coins that are substantially different might take its place. Or even if bitcoin succeeds, but not enough to control the entire crypto-currency market, the alt-coins that have certain advantages could be used to a certain extent in parallel with bitcoin. And even if bitcoin becomes the one and only cryptocurrency, at least alt-coin that work differently will teach us about how effective other approaches can be.

I just don't see the point of pure bitcoin clones and especially why some people assign any value to them at all. Maybe it's just because it's cheap and easy to acquire a lot of them, or maybe just a burning desire to be an early adopter and dreams of 100,000% returns like some early bitcoin adopters had. If it's neither of those, can anyone explain it to me?

I guess it depends on what what you want to do. I'm not sitting around waiting for someone else to make TRC the next big thing, I'm curious to see if I can make it "the next big thing" myself. :-)

[meebs]

I think we are holding out for ASIC and a free market. 1000 Terra coins takes a lot of time to mine with a reasonable rig. Reward is only 20 Coins per block. It's not like PPC where people could have MILLIONS of them and not mind selling for $1. Only people who have serious rigs and thus are foregoing a real profit mining Bitcoin have large numbers of Terracoins. Everyone else has only a few thousand. I make only about 200TRC a day- and in my mind it's definitely worth more then $1 a week. :-)

meh.. not necessarily.. difficulty is so low (930 currently) that 1 ghash = 435 TRC/day.

That said.. the holding out and see what kind of crap storm ASIC's create in the market is another story..


that and wondering if PPC/TRC becomes worth at least a little something (like > $0.01 each).. who wants to repeat the "5000 btc pizza"