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Author Topic: Food industry and cryptocurrency  (Read 2672 times)
Actor_Tom_Truong
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September 10, 2016, 07:14:13 AM
 #1

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.


Here's an example:


A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)
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September 10, 2016, 07:18:59 AM
 #2

Releasing all kind of various altcoins instead of focusing on one main crypto will be a downfall of cryptocurrency. We need to have strong leading coin. Not dozens of weak ones.
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September 10, 2016, 07:56:49 AM
 #3

Won't work. The first part of your idea is good, food is money. But turning this into a cryptocurrency means that the created token will pushing against mainstream currencies. The face value of the food will unavoidably be overridden. A barter system is the closest you can get to a "food is money" situation and even then it won't have solved anything. Essentially it would be the same thing we have today minus 95% of the complexity. And the longer the barter system exists the more of the lost complexity we would get back. Even if  the barter system doesn't evolve at all.
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September 10, 2016, 09:02:27 AM
 #4

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.


Here's an example:


A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)

It's very complicated to applying in the real life, i think will better if we mixing all of the coin into 1 form, for making that can be more easier in my minds. Very confused if the coin is be divided like that.

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September 10, 2016, 09:29:25 AM
 #5

I think this idea wont work for the long term because crypto currencies need time to be popular and well known, and to get some value too, so dealing with Bitcoin would be the best choice for those companies
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September 10, 2016, 09:43:19 AM
 #6

Can't see this taking off at all, sorry buddy. I'm pretty certain it wouldn't work. Why couldn't they just continue to use fiat or even bitcoin. People who farm or catch lobster make a lot of money they won't need to stray too far from what they do now which works any way.

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September 10, 2016, 10:10:02 AM
 #7

a farmer wont release the coin. because who would buy it.
the retailers wont because what they want to buy is the raw food produce,
lets say that a farmer convinces a retailer to buy it.. ok the retailer gives dollars to the farmer gets a coin then instantly gives the coin back to get the dairy/meat.
whats the point right!

the the farmer wants to pay rent. so does he ignore his coin and just pay rent in dollars.. well in the OP's mind no. so now the farmer gives the leaseholder of the land some of his coin and the leaseholder instantly gives them back and asks for dollars

see its useless


unless all farmers got together and wanted to work under one network(coin) along with some retailers and landlords, there is no chance of it becoming viable.
and even if all farmers did work together, they would still need to work out how to utilize the coin to have an actual function. beyond the flip-flop-flip of their coin

this is why so many altcoins fail.
1. they dont understand WHO will be using it
2. they dont understand WHY it will be used
3. they dont understand HOW it will be used

remember moneys initial invention was to be an understandable measure so that it solved the problems of
1 horse-shoe is worth 5 loaves of bread or 10 bowls of soup, or a night with a prostitute.
because having lots of different prices get confusing. so having one measure that everyone's individual goods and services can be measured against allows pricing something to be easier to understand and manage

its utility is in being the middleman of bartering. where people didnt need to know about soups, bread and prostitute value to be able to price their horseshoe

because a king would say 1xmoney is an hours hard labour
the horse shoe maker know the time it takes to get the metal, stoke the fire, hammer the metal is 8 hours. so a horse shoe is 8xmoney
the bread baker know the time it takes to get the flour from the mill. stoke the fire and make bread is 40 loaves for 8xmoney
and a prostitute sells her time in 1 hour amounts (even if she can finish off a guy in 10 minutes) so an entire night with a prostitute is 8xmoney
and they all come to an understanding that they can fairly trade their own goods for a reasonably equal value by knowing everything is valued to the same thing, money.

meaning anyone can value their produce easily against money without having to care or know about other peoples produce

but in the OP's idea of individual farmers having their own coin.. just wont work. they might aswell not have the coin and let the produce itself be the measure (making fiat the value transfer) because a individual coin holds no measure or value.
if a farmer is setting a random value for the coin. its no better than setting the price for the produce itself and not needing the coin, essentially

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September 10, 2016, 11:39:55 AM
 #8

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.


Here's an example:


A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)


I guess you are kidding,but anyway the only thing that gives a currency any value is the human labor.

Food can`t be a value,foods is just a product.

And it`s better to have one strong cryptocurrency instead of 1000 weak cryptocurrencies.



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September 10, 2016, 11:42:52 AM
 #9

This will bring confusion to everyone that havent know the bitcoin yet. Everyone is right we need a few strong coin to continue on cryptocurrency so we can also advertise it more.

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September 10, 2016, 11:46:32 AM
 #10

what reference you have of your examples? are these your own imagination or these coins has been established?
I only heard Clam coins. but never heard that, that coin is belong to any kind of farm...
not only farms. and food industries every farm of life can make their crypto currencies now. even schools and colleges also make that. but thing is not about making a coin. thing is about running a coin and making it a successful coin which is not easy for everyone.

Releasing all kind of various altcoins instead of focusing on one main crypto will be a downfall of cryptocurrency. We need to have strong leading coin. Not dozens of weak ones.

Leading Crypto currency is obivously "Bitcoin" you should use bitcoin then.
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September 10, 2016, 12:33:01 PM
 #11

that's definitely not a good thing to separate every coin and naming it with various title,it'll make so many people confused and will took so much effort for only exchanging currency so i guess it's not a good idea,it's better to unite and create a crpyocurrency for example,creating foodcoin or etc


     
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September 10, 2016, 12:51:12 PM
 #12

I think those kinds of people will probably just using an existed cryptocurrency or even just use Bitcoin rather than make their own cryptocurrencies, because how do you know that people would be interested in those new farmers coins. Except if all the farmers in this world united and make a statement about they won't accept any other kind of payment method besides using their cryptocurrency.

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September 10, 2016, 01:35:24 PM
 #13

Having different coins per transaction will lead to confusion. If I do need to buy a crab for example, what will I do if I don't have crab coin? The tendency is go through exhanges and trade any of my available coin into crab coin for me to buy a crab. Even just think of it is complicated. For me, it is still better to have one cryptocurrency that can be use in any transactions, more convenient, less hassle.

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September 10, 2016, 03:41:52 PM
 #14

It is true that demand of food will always remain high with increasing population and decreasing farm lands. However the coins if those farms release, than price of coin will depend upon the share value of those farms rather than keep on increasing with demands.


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September 10, 2016, 04:34:33 PM
 #15

Not just food industry, every bank will have their own cryptocurrency. But what is the use of everyone is having their own "private" cryptocurrency. It may help them to transact with less transaction fees but not in reliable way.

The purpose and potential of bitcoin is totally different and no altcoin will be a threat for it.



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noictib
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September 10, 2016, 04:47:17 PM
 #16

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.


Here's an example:


A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)



That means we have to mine 100+ coin to deal with various situation to but various items. It's definitely a not good idea to launch so many could, returned it would be best to have one coin for all  that is bitcoin.


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Leonard2016
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September 10, 2016, 04:50:32 PM
 #17

i think this mostly sounds like a good idea rather than being really good and practical. if anybody wants to start a new altcoin with his business we will have millions of coins after a month and the value of a currency is defined based on supply and demand so what if there were no demand? what happens to that business.

nothing to see here...
ekoice
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September 10, 2016, 05:07:28 PM
 #18

I dont know whether farmers would release their own cryptocurrencies in future, but already there are large number of crypto currencies and if it  increases, it would lead to a huge confusion and decline of crypto currencies.
septian44
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September 10, 2016, 05:39:12 PM
 #19

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.


Here's an example:


A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)

world food be part of farm cryptocurrency I think you exaggerate,in theory would allow them to become an authority in the network,With the increase of new miners, which means the level of difficulty is increasing, If passengers in large numbers leaving the network then the numbers will decrease difficulty.
Denker
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September 10, 2016, 07:12:31 PM
 #20

Releasing all kind of various altcoins instead of focusing on one main crypto will be a downfall of cryptocurrency. We need to have strong leading coin. Not dozens of weak ones.

We are already having all kind of various of altcoins.So that won't make any difference.
The market will decide if these "foodcoins" would be useful or not. In crypto we let the market decide.
Most of these new coins will disappear as quick as they came.So I wouldn't worry about that.

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