Bitcoin Forum
September 19, 2019, 07:50:45 AM *
News: If you like a topic and you see an orange "bump" link, click it. More info.
 
   Home   Help Search Login Register More  
Pages: « 1 ... 724 725 726 727 728 729 730 731 732 733 734 735 736 737 738 739 740 741 742 743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 [774] 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 ... 1023 »
  Print  
Author Topic: [ANN][Main] Bitcore- BTX - Partnership with JAXX and Magnum Wallet!  (Read 669512 times)
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 10:46:08 PM
 #15461


Active in Telegram?! I haven't seen his toxic presence for more than two weeks but that's not my point.

The point is that he's very clever at manipulating i'll give him that, using the free publicity he got from working on BTX so he can NOW start his own ''miracle'' project  Roll Eyes

Please, give me a quote where he's saying all the things you claim he's saying, that should be quite easy since he's so active on Telegram no?

The guy is a straight shooter from what I can tell.  He says what he thinks is the best solution and if he’s right he’s gonna be a big player and if he’s wrong then that’s his risk.  Yeah he’s using his “popularity” from btx as leverage.  I see nothing wrong with that - it’s just like any other job and BTX isn’t very popular yet.

Anyway, I’m looking forward to see what he’s got and if it’s as good as he claims then BTX can implement it if the devs and BTX community think it’s the best course of action. 

Hahaha well Vlad... what I am talking about is very very hard to implement if you don't have it in the code from the beginning. I suppose you could do something similar in nature post launch but it would be extremely tough. It would have to be a unique solution separate but built upon what I am working on.
1568879445
Hero Member
*
Offline Offline

Posts: 1568879445

View Profile Personal Message (Offline)

Ignore
1568879445
Reply with quote  #2

1568879445
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1568879445
Hero Member
*
Offline Offline

Posts: 1568879445

View Profile Personal Message (Offline)

Ignore
1568879445
Reply with quote  #2

1568879445
Report to moderator
1568879445
Hero Member
*
Offline Offline

Posts: 1568879445

View Profile Personal Message (Offline)

Ignore
1568879445
Reply with quote  #2

1568879445
Report to moderator
European Central Bank
Legendary
*
Offline Offline

Activity: 1288
Merit: 1080



View Profile
April 04, 2018, 10:47:30 PM
 #15462

I like BTX and all, probably the BEST Bitcoinfork there is, but the fact that it is capped, it is not good in the long run. Value of coin will always go up because of deflation sure, but people are never incentivised to spend it.

An exact inverse is Crypterium, where there is a fixed supply, and with every transaction, a small amount is burned, and coin supply will always go down. Which will also increase value. At least they have a system in place to incentivise spending.

However that is also not the solution, because theoretically, you will end up someday with a coin supply of 1, and when cosnidering you got 18 decimals, you could go further and use the system, it will get messy in the end. You would have a 1 coin worth billion of dollars. and people only working with small decimals.
That is still not a valid solution long run.

so you have a problem with a capped supply and the disincentive to spend, but you approve of a coin that burns itself with every single spend?

this is possibly an even dumber idea than freicoin with their demurrage. all people will do is sit around waiting for others to spend it and no one will anywhere.

gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 10:50:21 PM
 #15463

I like BTX and all, probably the BEST Bitcoinfork there is, but the fact that it is capped, it is not good in the long run. Value of coin will always go up because of deflation sure, but people are never incentivised to spend it.

An exact inverse is Crypterium, where there is a fixed supply, and with every transaction, a small amount is burned, and coin supply will always go down. Which will also increase value. At least they have a system in place to incentivise spending.

However that is also not the solution, because theoretically, you will end up someday with a coin supply of 1, and when cosnidering you got 18 decimals, you could go further and use the system, it will get messy in the end. You would have a 1 coin worth billion of dollars. and people only working with small decimals.
That is still not a valid solution long run.


Take a look at Magnatum coin, unlimited total supply but limited yearly emmission of 130 million coins, with liquid blocks balancing the block reward depending on network transactions (demand/supply).

Too bad the dev has abandoned that project long ago though.

What I am attempting to do is something different altogether than what they did. It look like they tried change the time in which blocks occur but I am trying to simply alter the block reward itself.
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 10:50:54 PM
 #15464

I like BTX and all, probably the BEST Bitcoinfork there is, but the fact that it is capped, it is not good in the long run. Value of coin will always go up because of deflation sure, but people are never incentivised to spend it.

An exact inverse is Crypterium, where there is a fixed supply, and with every transaction, a small amount is burned, and coin supply will always go down. Which will also increase value. At least they have a system in place to incentivise spending.

However that is also not the solution, because theoretically, you will end up someday with a coin supply of 1, and when cosnidering you got 18 decimals, you could go further and use the system, it will get messy in the end. You would have a 1 coin worth billion of dollars. and people only working with small decimals.
That is still not a valid solution long run.

so you have a problem with a capped supply and the disincentive to spend, but you approve of a coin that burns itself with every single spend?

this is possibly an even dumber idea than freicoin with their demurrage. all people will do is sit around waiting for others to spend it and no one will anywhere.



Agreed!
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 10:52:27 PM
 #15465

Guys i don't want to be misunderstood, if there's potential for new things to be implemented for the good of a given asset i have nothing against it, but what exactly has he shown you besides HIS ideas?

Countless people have ideas, i can promise to hook you up with Megan Fox, craft a flying carpet for the two of you and teleport you to land of pink unicorns but how credible would that be?

Please give me a shard of his ideas, otherwise this comes right up to my point, you've been heavily manipulated...

Hahaha I agree with you the proof is in the pudding... I will prove it late summer/early fall. I have boxes to check in my personal life before I can attack this head on. If someone beats me to it then I would support such a project.
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 10:56:38 PM
 #15466

At any rate, I am sorry to anyone I have offended. This the one and only time I will say those words. But in my opinion, despite winning the scaling debate, this is still built under a flawed system. Look I love the shit out of Bitcoin but not enough to blindfold myself and pray to it. I want to actually win this war against fiat instead of being noisy and simply fading away into relative obscurity. 
xarix
Newbie
*
Offline Offline

Activity: 83
Merit: 0


View Profile
April 04, 2018, 10:59:07 PM
 #15467

At any rate, I am sorry to anyone I have offended. This the one and only time I will say those words. But in my opinion, despite winning the scaling debate, this is still built under a flawed system. Look I love the shit out of Bitcoin but not enough to blindfold myself and pray to it. I want to actually win this war against fiat instead of being noisy and simply fading away into relative obscurity.  


And that is exact description of my previous post mentioning his IDEALS!

You want to wage a war against fiat?  Grin Grin

Get in touch with reality mate...
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 11:03:36 PM
 #15468

At any rate, I am sorry to anyone I have offended. This the one and only time I will say those words. But in my opinion, despite winning the scaling debate, this is still built under a flawed system. Look I love the shit out of Bitcoin but not enough to blindfold myself and pray to it. I want to actually win this war against fiat instead of being noisy and simply fading away into relative obscurity.  


And that is exact description of my previous mentioned IDEALS!

You want to wage a war against fiat?  Grin Grin

Get in touch with reality mate...

It is only impossible if you think it is impossible. Fiat is already fated to destroy itself. On average, once instituted, a fiat currency only lasts 27 years. We don't necessarily need to defeat fiat outright because it will weaken itself due to debt and inflation. If you don't understand the reasons why Bitcoin was created then you have lost touch with the movement. It was not simply meant for speculation. Of course, I have speculated myself but I have grown to hate it with a passion.
xarix
Newbie
*
Offline Offline

Activity: 83
Merit: 0


View Profile
April 04, 2018, 11:10:33 PM
 #15469

Please, please keep expressing your inner most sincere feelings, so that everyone can paint the psychological profile of an delusional ex soldier that wants to wage ______ on everything and suffering from _______.

How's the plan for your mega 20GHS farm for mining BTX by the way, you had the same conviction of making it real like you have now blabbering all this pseudo intellectuall BS that i just can't stomach.

 
cryptopt
Newbie
*
Offline Offline

Activity: 16
Merit: 0


View Profile
April 04, 2018, 11:13:07 PM
 #15470

In a few months BTX at 150$ each guys, just chill
jmvarner83
Member
**
Offline Offline

Activity: 194
Merit: 12


View Profile
April 04, 2018, 11:20:50 PM
 #15471

I stand on the sidelines, but if you profited nearly 300+K in just a couple of months on the project, continue to stay around and rub it in, and shill out your own ideas that point towards a different system, then it sounds like you're not a positive influence for Bitcore.

That's like a disgruntled person getting fired or quitting their job and then hanging around the place continuing to try and benefit off the traffic and publicity.  Swaying business their direction and using status to steal followers.

That's shady business in my parts.

I mean, it sounds like they let you in, gave you a generous amount, then you jumped out for profit, blew the whistle to cover tracks, and now feel entitled to stay around and play up your own system.

No way...

This is about BTX and the coin called Bitcore.

Not a place to fuel your next get rich quick endeavor.
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 11:33:28 PM
 #15472

I stand on the sidelines, but if you profited nearly 300+K in just a couple of months on the project, continue to stay around and rub it in, and shill out your own ideas that point towards a different system, then it sounds like you're not a positive influence for Bitcore.

That's like a disgruntled person getting fired or quitting their job and then hanging around the place continuing to try and benefit off the traffic and publicity.  Swaying business their direction and using status to steal followers.

That's shady business in my parts.

I mean, it sounds like they let you in, gave you a generous amount, then you jumped out for profit, blew the whistle to cover tracks, and now feel entitled to stay around and play up your own system.

No way...

This is about BTX and the coin called Bitcore.

Not a place to fuel your next get rich quick endeavor.

Hahaha no my entire profits weren't solely off of BTX. It was maybe about 1/3 or so of my portfolio. I did a TON of trading last year. Well I might not be a positive influence for Bitcore but I am trying to be a positive influence on the world as whole. Which one is greater? I am not trying to steal followers at all for an idea that hasn't even been executed yet. I am just excited enough to share it and see what people think of it. They did pay me but the majority of my BTX was still bought, mined, or airdropped to me. As far as the last point goes... This would be the opposite of a get rich scheme. It would maintain value and I would launch fairly with no premine or dev reward. If you really put your thinking hat on... Everything else in this space is about a get rich quick scheme. The system is almost designed to increase value by having a supply cap and block halvings. The rest is about creating demand to force prices in the upwards direction. You can hate me and critique me all you want but at least do it from a well thought out position. 
jmvarner83
Member
**
Offline Offline

Activity: 194
Merit: 12


View Profile
April 04, 2018, 11:42:21 PM
 #15473

I stand on the sidelines, but if you profited nearly 300+K in just a couple of months on the project, continue to stay around and rub it in, and shill out your own ideas that point towards a different system, then it sounds like you're not a positive influence for Bitcore.

That's like a disgruntled person getting fired or quitting their job and then hanging around the place continuing to try and benefit off the traffic and publicity.  Swaying business their direction and using status to steal followers.

That's shady business in my parts.

I mean, it sounds like they let you in, gave you a generous amount, then you jumped out for profit, blew the whistle to cover tracks, and now feel entitled to stay around and play up your own system.

No way...

This is about BTX and the coin called Bitcore.

Not a place to fuel your next get rich quick endeavor.

Hahaha no my entire profits weren't solely off of BTX. It was maybe about 1/3 or so of my portfolio. I did a TON of trading last year. Well I might not be a positive influence for Bitcore but I am trying to be a positive influence on the world as whole. Which one is greater? I am not trying to steal followers at all for an idea that hasn't even been executed yet. I am just excited enough to share it and see what people think of it. They did pay me but the majority of my BTX was still bought, mined, or airdropped to me. As far as the last point goes... This would be the opposite of a get rich scheme. It would maintain value and I would launch fairly with no premine or dev reward. If you really put your thinking hat on... Everything else in this space is about a get rich quick scheme. The system is almost designed to increase value by having a supply cap and block halvings. The rest is about creating demand to force prices in the upwards direction. You can hate me and critique me all you want but at least do it from a well thought out position. 

Dude, no one cares about your idea or coin, or your criticism about the system here.  You are pretty much an ex-employee that still stands around trying to "make the world better"

May I suggest a place you can go express your thoughts and come up with the next big thing!

https://cryptoplayradio.com/

Yop is honestly one of a kind and will listen to all of your ideas!
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 04, 2018, 11:51:15 PM
 #15474

I stand on the sidelines, but if you profited nearly 300+K in just a couple of months on the project, continue to stay around and rub it in, and shill out your own ideas that point towards a different system, then it sounds like you're not a positive influence for Bitcore.

That's like a disgruntled person getting fired or quitting their job and then hanging around the place continuing to try and benefit off the traffic and publicity.  Swaying business their direction and using status to steal followers.

That's shady business in my parts.

I mean, it sounds like they let you in, gave you a generous amount, then you jumped out for profit, blew the whistle to cover tracks, and now feel entitled to stay around and play up your own system.

No way...

This is about BTX and the coin called Bitcore.

Not a place to fuel your next get rich quick endeavor.

Hahaha no my entire profits weren't solely off of BTX. It was maybe about 1/3 or so of my portfolio. I did a TON of trading last year. Well I might not be a positive influence for Bitcore but I am trying to be a positive influence on the world as whole. Which one is greater? I am not trying to steal followers at all for an idea that hasn't even been executed yet. I am just excited enough to share it and see what people think of it. They did pay me but the majority of my BTX was still bought, mined, or airdropped to me. As far as the last point goes... This would be the opposite of a get rich scheme. It would maintain value and I would launch fairly with no premine or dev reward. If you really put your thinking hat on... Everything else in this space is about a get rich quick scheme. The system is almost designed to increase value by having a supply cap and block halvings. The rest is about creating demand to force prices in the upwards direction. You can hate me and critique me all you want but at least do it from a well thought out position. 

Dude, no one cares about your idea or coin, or your criticism about the system here.  You are pretty much an ex-employee that still stands around trying to "make the world better"

May I suggest a place you can go express your thoughts and come up with the next big thing!

https://cryptoplayradio.com/

Yop is honestly one of a kind and will listen to all of your ideas!

Haha well I wish you good luck but you might be stepping into the abyss on this one... There really aren't really "employees" in this space. At any rate, I will indeed create a thread specifically for critiquing and discussing my idea.  Grin
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 05, 2018, 01:27:41 AM
 #15475

Please, please keep expressing your inner most sincere feelings, so that everyone can paint the psychological profile of an delusional ex soldier that wants to wage ______ on everything and suffering from _______.

How's the plan for your mega 20GHS farm for mining BTX by the way, you had the same conviction of making it real like you have now blabbering all this pseudo intellectuall BS that i just can't stomach.

 

I have 70 1080 TI’s built out in the last week or two but they are pointed at ravencoin. I can’t go bigger than that right now until I find a better location with more amperage. At any rate, attack my ideas but do refrain from speaking about my service. I am in the Air Force, work in engineering, and have not been on a single deployment to speak of. I am disgruntled but the cause is completely separate from my service entirely.
Gecko8
Full Member
***
Offline Offline

Activity: 322
Merit: 101



View Profile
April 05, 2018, 01:46:11 AM
 #15476

I'd like to salute you @Tarek for all that you do. You help spread awareness and you are always in a positive spirit, I love it. I'm hopeful now that we are closing in on the end of the airdrop to tell you the truth, I know fora fact that the btx team are working tirelessly to achieve everything that they want to achieve and I trust them, Great group of guys that are really good at what they are doing Smiley.

Seconded. And keeping the positive spirit is the most important thing we can do as a community, especially considering the current state of the market.


Well... There is a fine line between FUD and criticism. The same could be said for positivity and over exuberance. Don't forget to distinguish which is which.  Wink

I don't believe that what you are doing in this thread should be considered as FUD, I can appreciate your honest view of things as I believe both sides of a story has to be heard before anyone makes up their mind.

Haha well my criticisms these days have not been directed at BTX in specific but rather the entire setup of crypto in general. I am working on something huge that if it works will save this space and then we can call check to the banks and governments. I am only writing about it here and on telegram because I can hardly contain my excitement.  Grin

Hmm.. Now you've got me intrigued, please do share more when the time has come.. I always like new and different ideas when it comes to crypto Smiley.

Ill share the simple concept rather than the mechanism or algorithm I will use. My idea was that the major issue, ironically of course, with crypto is that it is doomed to be deflationary in nature. Deflation is just as bad as inflation so my idea was to stabilize the supply in relation to demand for the currency. More demand will mean more inflation to offset that demand. Less demand will mean deflation to offset the decrease in demand. All this would be done via algorithm and of course there would be no supply cap. If it were to stabilize things within a 10% range then we would have the first true decentralized currency instead of decentralized assets. Remember that there is no incentive to spend something that will only ever go up in price in the future given ample demand of course. Only the outliers of society will use such a thing out of beliefs rather than incentives. The masses will not adopt something that is unstable in valuation. Bitcoin and every crypto thereafter is currently unable to ever stabilize price. I suppose my algorithm would dissuade speculation to a great degree and it could potential be used as a reserve currency or the ultimate trading pair. It is basically USDT on steroids without being tied to a fiat currency or a third party. But I have a lot of work, research, and testing to see if it could actually work. But this would essentially be us calling check to governments and banks. Their main negative talking point about crypto is that it is unstable so if we remove those conditions then their criticisms start to look more petty. They will either bare the fangs and show everyone their true colors or they will capitulate and give us our economic freedom that we so much desire. Right now they can lie and claim they are protecting us from volatility. Anyways, I am not sure if this is a manifesto or a simple explanation but that's what I am working on.  Grin

I guess the primary problem is, that for "investors" no real value gets currently created. Having a crypto currency, like we have now quite a bunch, which only hopefully get some value through hodling, will not solve the problem. With e.g. POS some kind of dividend gets created (= short value), but this only works with a value of the crypto currency behind. It also opens the discussion above in terms of deflation and inflation and its balance. In other words, as long, no incentive and value creation gets generated by using the coins, it will be very, very hard for any crypto currency. Nobody wants to pay his pizza for one or two bitcores in the moment, as most dream about the story to be repeated like for bitcoin. This will not happen, if no real use case gets created. And for currencies, independend, whether tied to fiat money or not, they only can create their value, when they perform their "task", which is to manage transactions. Currently only miners gets rewarded (if balance is right of diffculty and costs) but not minting investors. This needs to be solved in my POV.

And in generally I believe, we have enough crypto currencies. Block chain technology can and will change our world. And tokens can help in engaging in the market. But I would actually like to see more ideas, how it can change our world through disruptive models to simplify processes and engagements.
gembitz
Sr. Member
****
Offline Offline

Activity: 1050
Merit: 356


*Brute force will solve any Bitcoin problem*


View Profile
April 05, 2018, 02:01:31 AM
 #15477

Please, please keep expressing your inner most sincere feelings, so that everyone can paint the psychological profile of an delusional ex soldier that wants to wage ______ on everything and suffering from _______.

How's the plan for your mega 20GHS farm for mining BTX by the way, you had the same conviction of making it real like you have now blabbering all this pseudo intellectuall BS that i just can't stomach.

 

I have 70 1080 TI’s built out in the last week or two but they are pointed at ravencoin. I can’t go bigger than that right now until I find a better location with more amperage. At any rate, attack my ideas but do refrain from speaking about my service. I am in the Air Force, work in engineering, and have not been on a single deployment to speak of. I am disgruntled but the cause is completely separate from my service entirely.

ravencoin new algo looks interesting ~ also need your help with BitcoinInstant :-D thx bud BTX total waste...zzz greedy devs <===

#makebitcointalkgreatagain-_-*my posts are strictly for entertainment purposes only. It should not be regarded as investment/trading advice.*advocate to promote sharing and free software for the bitcoin community* #EFF #FSF ===> START WITH NOTHING AND BUILD IT INTO SOMETHING!
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 05, 2018, 02:05:28 AM
 #15478

I'd like to salute you @Tarek for all that you do. You help spread awareness and you are always in a positive spirit, I love it. I'm hopeful now that we are closing in on the end of the airdrop to tell you the truth, I know fora fact that the btx team are working tirelessly to achieve everything that they want to achieve and I trust them, Great group of guys that are really good at what they are doing Smiley.

Seconded. And keeping the positive spirit is the most important thing we can do as a community, especially considering the current state of the market.


Well... There is a fine line between FUD and criticism. The same could be said for positivity and over exuberance. Don't forget to distinguish which is which.  Wink

I don't believe that what you are doing in this thread should be considered as FUD, I can appreciate your honest view of things as I believe both sides of a story has to be heard before anyone makes up their mind.

Haha well my criticisms these days have not been directed at BTX in specific but rather the entire setup of crypto in general. I am working on something huge that if it works will save this space and then we can call check to the banks and governments. I am only writing about it here and on telegram because I can hardly contain my excitement.  Grin

Hmm.. Now you've got me intrigued, please do share more when the time has come.. I always like new and different ideas when it comes to crypto Smiley.

Ill share the simple concept rather than the mechanism or algorithm I will use. My idea was that the major issue, ironically of course, with crypto is that it is doomed to be deflationary in nature. Deflation is just as bad as inflation so my idea was to stabilize the supply in relation to demand for the currency. More demand will mean more inflation to offset that demand. Less demand will mean deflation to offset the decrease in demand. All this would be done via algorithm and of course there would be no supply cap. If it were to stabilize things within a 10% range then we would have the first true decentralized currency instead of decentralized assets. Remember that there is no incentive to spend something that will only ever go up in price in the future given ample demand of course. Only the outliers of society will use such a thing out of beliefs rather than incentives. The masses will not adopt something that is unstable in valuation. Bitcoin and every crypto thereafter is currently unable to ever stabilize price. I suppose my algorithm would dissuade speculation to a great degree and it could potential be used as a reserve currency or the ultimate trading pair. It is basically USDT on steroids without being tied to a fiat currency or a third party. But I have a lot of work, research, and testing to see if it could actually work. But this would essentially be us calling check to governments and banks. Their main negative talking point about crypto is that it is unstable so if we remove those conditions then their criticisms start to look more petty. They will either bare the fangs and show everyone their true colors or they will capitulate and give us our economic freedom that we so much desire. Right now they can lie and claim they are protecting us from volatility. Anyways, I am not sure if this is a manifesto or a simple explanation but that's what I am working on.  Grin

I guess the primary problem is, that for "investors" no real value gets currently created. Having a crypto currency, like we have now quite a bunch, which only hopefully get some value through hodling, will not solve the problem. With e.g. POS some kind of dividend gets created (= short value), but this only works with a value of the crypto currency behind. It also opens the discussion above in terms of deflation and inflation and its balance. In other words, as long, no incentive and value creation gets generated by using the coins, it will be very, very hard for any crypto currency. Nobody wants to pay his pizza for one or two bitcores in the moment, as most dream about the story to be repeated like for bitcoin. This will not happen, if no real use case gets created. And for currencies, independend, whether tied to fiat money or not, they only can create their value, when they perform their "task", which is to manage transactions. Currently only miners gets rewarded (if balance is right of diffculty and costs) but not minting investors. This needs to be solved in my POV.

And in generally I believe, we have enough crypto currencies. Block chain technology can and will change our world. And tokens can help in engaging in the market. But I would actually like to see more ideas, how it can change our world through disruptive models to simplify processes and engagements.

I mostly agree with everything you have stated. I am far more sold on the idea of smart contracts and tokens than anything we currently have in this space actually ever fulfilling the role of a global currency.
Gecko8
Full Member
***
Offline Offline

Activity: 322
Merit: 101



View Profile
April 05, 2018, 02:19:48 AM
 #15479

I'd like to salute you @Tarek for all that you do. You help spread awareness and you are always in a positive spirit, I love it. I'm hopeful now that we are closing in on the end of the airdrop to tell you the truth, I know fora fact that the btx team are working tirelessly to achieve everything that they want to achieve and I trust them, Great group of guys that are really good at what they are doing Smiley.

Seconded. And keeping the positive spirit is the most important thing we can do as a community, especially considering the current state of the market.


Well... There is a fine line between FUD and criticism. The same could be said for positivity and over exuberance. Don't forget to distinguish which is which.  Wink

I don't believe that what you are doing in this thread should be considered as FUD, I can appreciate your honest view of things as I believe both sides of a story has to be heard before anyone makes up their mind.

Haha well my criticisms these days have not been directed at BTX in specific but rather the entire setup of crypto in general. I am working on something huge that if it works will save this space and then we can call check to the banks and governments. I am only writing about it here and on telegram because I can hardly contain my excitement.  Grin

Hmm.. Now you've got me intrigued, please do share more when the time has come.. I always like new and different ideas when it comes to crypto Smiley.

Ill share the simple concept rather than the mechanism or algorithm I will use. My idea was that the major issue, ironically of course, with crypto is that it is doomed to be deflationary in nature. Deflation is just as bad as inflation so my idea was to stabilize the supply in relation to demand for the currency. More demand will mean more inflation to offset that demand. Less demand will mean deflation to offset the decrease in demand. All this would be done via algorithm and of course there would be no supply cap. If it were to stabilize things within a 10% range then we would have the first true decentralized currency instead of decentralized assets. Remember that there is no incentive to spend something that will only ever go up in price in the future given ample demand of course. Only the outliers of society will use such a thing out of beliefs rather than incentives. The masses will not adopt something that is unstable in valuation. Bitcoin and every crypto thereafter is currently unable to ever stabilize price. I suppose my algorithm would dissuade speculation to a great degree and it could potential be used as a reserve currency or the ultimate trading pair. It is basically USDT on steroids without being tied to a fiat currency or a third party. But I have a lot of work, research, and testing to see if it could actually work. But this would essentially be us calling check to governments and banks. Their main negative talking point about crypto is that it is unstable so if we remove those conditions then their criticisms start to look more petty. They will either bare the fangs and show everyone their true colors or they will capitulate and give us our economic freedom that we so much desire. Right now they can lie and claim they are protecting us from volatility. Anyways, I am not sure if this is a manifesto or a simple explanation but that's what I am working on.  Grin

I guess the primary problem is, that for "investors" no real value gets currently created. Having a crypto currency, like we have now quite a bunch, which only hopefully get some value through hodling, will not solve the problem. With e.g. POS some kind of dividend gets created (= short value), but this only works with a value of the crypto currency behind. It also opens the discussion above in terms of deflation and inflation and its balance. In other words, as long, no incentive and value creation gets generated by using the coins, it will be very, very hard for any crypto currency. Nobody wants to pay his pizza for one or two bitcores in the moment, as most dream about the story to be repeated like for bitcoin. This will not happen, if no real use case gets created. And for currencies, independend, whether tied to fiat money or not, they only can create their value, when they perform their "task", which is to manage transactions. Currently only miners gets rewarded (if balance is right of diffculty and costs) but not minting investors. This needs to be solved in my POV.

And in generally I believe, we have enough crypto currencies. Block chain technology can and will change our world. And tokens can help in engaging in the market. But I would actually like to see more ideas, how it can change our world through disruptive models to simplify processes and engagements.

I mostly agree with everything you have stated. I am far more sold on the idea of smart contracts and tokens than anything we currently have in this space actually ever fulfilling the role of a global currency.

Not sure the goal should be a global currency. It also most probably will not happen, for different reasons. But some cryptos may perform the task of "money" transactions seriously. But first we also will need to find a way, that people are willing to initiate those transactions broadly. And yes, smart contracts are opening a lot more in terms of potential use cases beside of "money" transactions. Again, I hope I can read more about such future use cases in this forum.
gwestcot
Sr. Member
****
Offline Offline

Activity: 700
Merit: 263



View Profile
April 05, 2018, 02:23:08 AM
 #15480

Well they will only fulfill that role if they are setup within the parameters of sound economic thinking. One of the main problems I see in this space is that it has all of the brightest tech guys but almost no business minded or economic minded individuals.
Pages: « 1 ... 724 725 726 727 728 729 730 731 732 733 734 735 736 737 738 739 740 741 742 743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 [774] 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 ... 1023 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!