What happened to BitBar (BTB)

[A L I E N]

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead.  The low starting difficulty/high block reward initially is why there are so many to sell.  This is great for those of us that let them sell into our low bids.  Anyone buying at these levels will not regret it.  Bitbar is currently trading at 0.05 on 6/18/2013.  I will come back to this thread in 12 months to prove that I was right.  But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

[vinne81]

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead.  The low starting difficulty/high block reward initially is why there are so many to sell.  This is great for those of us that let them sell into our low bids.  Anyone buying at these levels will not regret it.  Bitbar is currently trading at 0.05 on 6/18/2013.  I will come back to this thread in 12 months to prove that I was right.  But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

Wasn't bitbar trading at 0.5 one month ago? Come on man, you're on in 12 months. The problem is, I can't prove you're wrong because BTB won't be listed anywhere.

[Kyune]

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually.  Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

[Sondey10mg]

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually.  Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

+1; exactly.

This is the worst coin released to date. Good ideas, terrible launch

[Killiz]

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually.  Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

+1; exactly.

This is the worst coin released to date. Good ideas, terrible launch

This is the same for Novacoin no? Correct me if I'm wrong. How is Novacoin doing now?

[jbmiller10]

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead.  The low starting difficulty/high block reward initially is why there are so many to sell.  This is great for those of us that let them sell into our low bids.  Anyone buying at these levels will not regret it.  Bitbar is currently trading at 0.05 on 6/18/2013.  I will come back to this thread in 12 months to prove that I was right.  But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

[Shmoopy]

When like 70% of the coins (or bars) in circulation are mined in the first day and then 30% are mined over the next 29 days, there's something wrong with the coin.

[FiiNALiZE]

Who the hell would want them?

All the early birds stocked up massive amount of BTB while everyone else got measly block rewards.

[Killiz]

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead.  The low starting difficulty/high block reward initially is why there are so many to sell.  This is great for those of us that let them sell into our low bids.  Anyone buying at these levels will not regret it.  Bitbar is currently trading at 0.05 on 6/18/2013.  I will come back to this thread in 12 months to prove that I was right.  But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

Then no one is selling either.

[crazy_rabbit]

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead.  The low starting difficulty/high block reward initially is why there are so many to sell.  This is great for those of us that let them sell into our low bids.  Anyone buying at these levels will not regret it.  Bitbar is currently trading at 0.05 on 6/18/2013.  I will come back to this thread in 12 months to prove that I was right.  But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

Then no one is selling either.

I'm not selling my Unicorns either. Doesn't make them worth anything.

[Barnacle_Ed]

Would recommend OP changes the poll to allow each user to submit multiple answers...I personally believe it was a combination of the 60 BTB instamine + no intelligible differences from existing chains + all the shills stuffing up the forums with propaganda of "CONSOLIDATE YOUR WEALTH IN BITBAR!!!!!" that made absolutely no sense.


In any case: good riddance BTB.

[MaGNeT]

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead.  The low starting difficulty/high block reward initially is why there are so many to sell.  This is great for those of us that let them sell into our low bids.  Anyone buying at these levels will not regret it.  Bitbar is currently trading at 0.05 on 6/18/2013.  I will come back to this thread in 12 months to prove that I was right.  But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

Then no one is selling either.

I'm not selling my Unicorns either. Doesn't make them worth anything.

Hmm, makes me wonder how long before someone launches the "UniCoin"

[canoe]

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually.  Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

I just noticed people were talking about the bitbar chart so I updated that chart.  It's now 47 days instead of 30 days.
Remember: my charts aren't necessarily up to date.  Check the "Last block processed" field at the top of the page to know when the chart was generated.
http://cryptometer.org/bitbar_90_day_charts.html

[portice]

I believe Trucoiin happened to it

[CoinHoarder]

I believe Trucoiin happened to it

Lol.. you beat me to it. 

[GSnak]

Negative publicity has nothing to do with the long term viability of the coin. If the commentary had been rosy, it still would be worthless. And the six days worth of confirmations is nutty.

[krasnyoktyabr]

Too much negative publicity about the day 1 insta-mining, caused by 2 or 3 very vocal members. That troll substrata and the other guy, I forget his name.

Insta-mining on day 1 of launch is actually commonplace. However when those insta-mined coins could be worth 0.5 bitcoins each, that's when the tears flow and people start throwing epic tantrums.

That said, the continuous difficulty adjustment means it will always be profitable to mine so long as there is an exchange and just a small amount of demand.

Insta-mineing is commong, but it rarely contributes 25% of the entirety of the coins that will ever be minted.

It was a mixture of the instamine with the steep decrease in blocksize that killed bitbar's value.

Scarcity is not a virtue that is valued in crypto, because there is no such thing as more or less scarce. Just because there are fewer 1.000000 units doesn't mean it is more scarce, it just means that you have to use more decimals. These things are nearly infinitely divisible.

[peonminer]

A better question is, what happened to TruCoin? He amped up his FGPA BitBar USB Key and we haven't heard anything since.

[A L I E N]

I recommend people should ignore the trolls(bashers and Trucoin).  The Bitbar dev. is active and currently working on an update.  It is currently #1 CoinChoose when adjusted for stales, even above LTC.  BTB has one of the best designed difficulty adjustments and proof of stake blocks so it will never "die".  

[lukemarshall]

I edited my original poll and reset it because I felt that it reflected my own thoughts to much, Ecpecially the "to much negativity on the forums" option.

It is now pretty generic left/right/middle of the road.