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Author Topic: ★★ ▀▄▀▄▀ BITBAR on BTER now LIVE ▀▄▀▄▀ ★★  (Read 8926 times)
hdclover
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May 08, 2013, 11:03:04 AM
 #1


FANTASTIC !!!!!

Blah blah
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May 08, 2013, 11:05:55 AM
 #2

Fireworks!
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May 08, 2013, 11:11:52 AM
 #3

Now we need to get it on coinchoose, as it has an exchange and block explorer.
RustyShackleford1950
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May 08, 2013, 11:13:31 AM
 #4

Now we need to get it on coinchoose, as it has an exchange and block explorer.

Is it a good thing to get onto coin choose this early in the game? Like I've been saying, restraint would be good, and a welcome change from the tactics of other alts.

On keyboard, the big d, rusty shackleford
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May 08, 2013, 11:23:46 AM
 #5

Now we need to get it on coinchoose, as it has an exchange and block explorer.

Is it a good thing to get onto coin choose this early in the game? Like I've been saying, restraint would be good, and a welcome change from the tactics of other alts.

Good point. I'll hold off myself on that for now. Not sure someone else won't bring up the point though. Smiley

However, being on coinchoose could encourage the mining community to take it up (especially if profitability was high), and would definitely boost the network hash rate, as well as spread awareness of it.

I think an increase in network hash is a sign of health of a coin. Not sure of the other dynamics about being on CC though. Definitely don't want to encourage a pump/dump dynamic at this point.
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May 08, 2013, 11:28:23 AM
 #6

I could find a block solo previous night. Not sure if such delight will ever happen again once many start mining it Cheesy Wait a bit Smiley
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May 08, 2013, 11:42:04 AM
 #7

Sweet. Can't wait to see it listed in coinchoose.com and dustcoin.com

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May 08, 2013, 11:43:09 AM
 #8

Talk about a rare coin Cheesy

Donatioins always welcome Wink
LTC: LL2UDTbQNx9UiP37ZzJ4CLQDWm6JPgZG8t
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May 08, 2013, 11:43:49 AM
 #9

That's one small step for BitBar, one giant leap for cryptocurrencies.

Speculating..
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May 08, 2013, 12:20:26 PM
 #10

There's still a massive variance between what the sellers think it's worth and what people are prepared to pay for it:
Code:
Sell 0.90989 | Buy 0.71

I wonder which side will relent first?
RustyShackleford1950
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May 08, 2013, 12:39:36 PM
 #11

With regard to the pricing, here is a previous post of mine estimating what the fair value is:

Litecoin:
Network Hash: 16,759,472 kH/s
Total Supply: 17,392,400 LTC
Current value: 3.14 USD/LTC

Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 815 LTC/BTB.

Which seems insanely high (24BTC/BTB). And it is, it doesn't take into consideration adoption, reputation, age, etc.

So compare it to one of the lamer coins of recent times, feathercoin;

Feathercoin:
Network Hash: 1,133,753 kH/s
Total Supply: 6,505,600 FTC
Current value: 0.22018 USD/FTC

Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 315.8 FTC/BTB.

Which would value bitbar at about $70 USD/BTB (0.65 BTC), which seems very low (probably due to the problems feathercoin currently has).


So there's a rough high and low point for the exchange to base the price from.

My personal feeling is that around 10 BTC/BTB is a fair price IN THE LONG TERM. Short term price, anywhere between 1.5BTC/BTB - 2.0 BTC/BTB.

On keyboard, the big d, rusty shackleford
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May 08, 2013, 12:55:05 PM
 #12

There's still a massive variance between what the sellers think it's worth and what people are prepared to pay for it:
Code:
Sell 0.90989 | Buy 0.71

I wonder which side will relent first?

Its not officially traded on bter yet. So no need to hassle. At the moment most people know about that option to sell/buy are those from the BTB threads here in this forum.

edit: and thats causing a imbalance towards the sell side.
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May 08, 2013, 12:58:14 PM
 #13

Scarce or not it has no real value besides speculation until it is acceptable as a form of payment somewhere, much like any other alt currency (Litecoin excluded).

Personally I can't see it trading at anything over 1:1 and will in fact probably settle at about 0.5-0.75:1 (about the level it was being traded initially) but we'll see what happens when the miners find out it's being traded on an exchange and start cashing in.
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May 08, 2013, 12:58:55 PM
 #14

Seems Bter has auto withdraw now Smiley

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May 08, 2013, 12:59:21 PM
 #15

With regard to the pricing, here is a previous post of mine estimating what the fair value is:

Litecoin:
Network Hash: 16,759,472 kH/s
Total Supply: 17,392,400 LTC
Current value: 3.14 USD/LTC

Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 815 LTC/BTB.

Which seems insanely high (24BTC/BTB). And it is, it doesn't take into consideration adoption, reputation, age, etc.

So compare it to one of the lamer coins of recent times, feathercoin;

Feathercoin:
Network Hash: 1,133,753 kH/s
Total Supply: 6,505,600 FTC
Current value: 0.22018 USD/FTC

Bitbar:
Network Hash: 700,000 kH/s
Total Supply: 2,800 BTB
Theoretical value: 315.8 FTC/BTB.

Which would value bitbar at about $70 USD/BTB (0.65 BTC), which seems very low (probably due to the problems feathercoin currently has).


So there's a rough high and low point for the exchange to base the price from.

My personal feeling is that around 10 BTC/BTB is a fair price IN THE LONG TERM. Short term price, anywhere between 1.5BTC/BTB - 2.0 BTC/BTB.

o.o
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May 08, 2013, 12:59:52 PM
 #16

I'm not bashing this coin (I don't have any so maybe I'm a bit jelly..)

but I seriously cannot imagine any coin being higher than BTC, that's just my opinion.

Will be very interesting to see where this goes.
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May 08, 2013, 01:00:56 PM
 #17

even bitcoin is for biggest parts pure speculation. coffee and drugs thats what its about at the moment.
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May 08, 2013, 01:07:06 PM
 #18

I'm not bashing this coin (I don't have any so maybe I'm a bit jelly..)

but I seriously cannot imagine any coin being higher than BTC, that's just my opinion.

Will be very interesting to see where this goes.

It's all relative. There are 11 million BTC and only about 3000 BTB.

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May 08, 2013, 01:08:58 PM
 #19

I'm not bashing this coin (I don't have any so maybe I'm a bit jelly..)

but I seriously cannot imagine any coin being higher than BTC, that's just my opinion.

Will be very interesting to see where this goes.

Go get you some Bro...

https://bitcointalk.org/index.php?topic=194324.0

Its all about what the people want...
RustyShackleford1950
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May 08, 2013, 01:09:42 PM
 #20

I'm not bashing this coin (I don't have any so maybe I'm a bit jelly..)

but I seriously cannot imagine any coin being higher than BTC, that's just my opinion.

Will be very interesting to see where this goes.

You raise a good point, is a psychological thing. But to give an example:

   Say there are 5 bitcoins in existence, 10 litecoins, 50 feathercoins, and 100 namecoins.
   If the current real world economics are applied, and let's say bitcoin is valued at $100, then due to the availability of the other coins, litecoins are worth $50, feathercoins $10, and namecoins $5.
   That's how pricing currently works.
   Now if a new alt comes around; bitbar, and there's only 1 bitbar in existence, if we follow the pricing model, that bitbar is worth $500 dollars.

"But another alt can't be worth more than bitcoin?"
Of course it can, it's all about the economics of the coin, it's availability, circulation, supply, and future potential.

Personally, I think that bitbar has a future, it's an alt that's (so far) not been pumped, not been spruiked by shills, and has not been overhyped. It's just steadily chugged along in the background. That's what you want from an alt, steady, consistent growth with a long term future in mind.

On keyboard, the big d, rusty shackleford
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