A better explanation of BitBar?

[ritchan]

To be honest, I found the official explanation on the bitbar.biz site rather... lacking. Can anyone tell me why the hell this is special?

[ymer]

Because this

[limbaugh]

Oh great, here come the hate sheep.

[mr_right]

i find the bitbar coward easily offended by even a simple graph based on facts.

Oh great, here come the hate sheep.

[rbdrbd]

To be honest, I found the official explanation on the bitbar.biz site rather... lacking. Can anyone tell me why the hell this is special?

From a technicals perspective: POS + POW, wasn't premined like Novacoin, continuously adjusting stake/difficulty.

From a psychological perspective (just as important): Novel "bar" concept, ultra rare, will be the first "coin" to hit the exchanges with a value per unit greater than 1 BTC (someone correct me if I'm wrong with this). I think that alone will get people's attention.

In short, this offers something new on both fronts that FTC and CNC didn't offer.

[limbaugh]

i find the bitbar coward easily offended by even a simple graph based on facts.

Go away little sheep, let the big boys make up their own minds. No need for your mindless rants.

[ritchan]

Because this

https://i.imgur.com/qcjso0c.png

Hmm.... it looks like there's not much left to go around now.

[mr_random]

To be honest, I found the official explanation on the bitbar.biz site rather... lacking. Can anyone tell me why the hell this is special?

I wrote this description for the bitbartalk forum:

"BitBar is a cryptocurrency designed to be extremely rare and thus hold a larger store of value per unit than conventional cryptocurrencies such as Bitcoin or Litecoin.

It is based upon the Novacoin codebase which uses Scrypt as the hashing algorithm and the fast continuous exponential difficulty adjustment/reward of PPCoin. This makes it highly ASIC resistant, meaning specialist mining equipment built into chips is very costly to manufacture efficiently."

[ritchan]

OK. So it's harder to mine because it uses scrypt - but doesn't LTC already do that? How will continuous difficulty adjustment make it additionally harder for ASICs? It will be rare because there are not many to go around, or because of the curve?

[Haze]

By the looks of that graph there will only be around 10,000BTB eventually. Is that right???

[GSnak]

Doesn't matter, I already have them all.

[mr_right]

lol good luck selling your premined JunkBars

i find the bitbar coward easily offended by even a simple graph based on facts.

Go away little sheep, let the big boys make up their own minds. No need for your mindless rants.

[BBQKorv]

Whats up with the newbs hating? Don't have enough hashrate to mine some by yourself?

This early adaptor bonus is very similar to any other coin there is available, how does it make this one so "bad"?

[mr_random]

Whats up with the newbs hating? Don't have enough hashrate to mine some by yourself?

This early adaptor bonus is very similar to any other coin there is available, how does it make this one so "bad"?

It's mostly just Substrata, the BFL fanboy.

[vlaoou321]

I LIKE THis。。

[GSnak]

It's mostly just Substrata, the BFL fanboy.

Don't dismiss him so easily, he holds a lot of sway in the community.

[Balthazar]

wasn't premined like Novacoin

Yes, like NovaCoin, it wasn't premined. There is only few differences - 1) BTB emission model is ridiculous 2) BTB contains a few serious security flaws because author didn't spent enough time while adjusting variables 3) NVC instamine was destroyed.

[VelvetLeaf]

Because this

Now we know why Sunny King set the initial PPCoin difficulty at 256 instead of 0