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Author Topic: solving bitcoin's weakness??  (Read 230 times)
craigpo
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March 07, 2018, 11:30:54 PM
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so I heard about this project called Havven. they recently sold out their ico and their whole idea is being a stablecoin and payment network. They are meant for everyday purchases for the crypto economy so we don't have to worry about price volatility.

I see this as a huge upside to btc since I see btc more as an asset that appreciates. It's impossible to use it for everyday things due to the price fluctuations and fees.

What do you guys think? This one's similar to Tether, but isn't tied to gold or fiat. Would love peoples thoughts on this subject. https://havven.io/
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March 07, 2018, 11:35:48 PM
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It is great for use in day-to-day trading, I will do it and will utilize for my daily needs in life, this is very suitable for use.
wattcrypto
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March 08, 2018, 10:18:44 PM
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I think Havven is a great project for this particular problem. bitcoin is strong, but I think we can all acknowledge its weaknesses. Will be watching. Just joined their telegram group as well. https://t.me/havven_io1
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March 08, 2018, 10:58:16 PM
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Definitely what crypto's need to become "mainstream." The team looks pretty solid I wonder if they can be the one's to solve the stablecoin issue, they certainly have set themselves apart from other platforms currently tackling this. If you're a crypto believer I'd say they merit following from now on! Nice find.
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March 08, 2018, 11:31:27 PM
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Definitely what crypto's need to become "mainstream." The team looks pretty solid I wonder if they can be the one's to solve the stablecoin issue, they certainly have set themselves apart from other platforms currently tackling this. If you're a crypto believer I'd say they merit following from now on! Nice find.

one of the biggest selling points for me is the team. the idea itself is pretty cool since it's not tied to an asset we're trying to get away from. the more people that join havven, the better. a very good incentive for them as a company and us as consumers to push and use the platform/coin.
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March 08, 2018, 11:47:38 PM
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This is a very brilliant idea, this is definitely what many people of altcoins will do, and it will make trading easier, I am very glad to have it.
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March 08, 2018, 11:53:11 PM
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ITs a good idea but it will take time to overtake bitcoin. I dont think btc is useless but ofc there will be better ones Smiley

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March 09, 2018, 12:01:29 AM
Last edit: March 11, 2018, 06:15:09 PM by odolvlobo
 #8

As far as I can tell, this stable-coin has the same problem as Tether. It relies on a trusted third party to hold the market cap equivalent in dollars. Assuming that I am not mistaken, then I don't understand the need for two tokens, except maybe so it doesn't look exactly like Tether.

It turns out that I was mistaken.

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March 09, 2018, 12:05:12 AM
 #9

yes, ICO havven is very good, has dual token, and i see will succeed. its products are also very useful, platform as a tool to facilitate payment.

may be havven will support for bitcoin and other altcoins, because some countries have legalized all crypto like in Venezuela, so they need a havven platform.

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March 09, 2018, 09:50:16 AM
 #10

so I heard about this project called Havven. they recently sold out their ico and their whole idea is being a stablecoin and payment network. They are meant for everyday purchases for the crypto economy so we don't have to worry about price volatility.

I see this as a huge upside to btc since I see btc more as an asset that appreciates. It's impossible to use it for everyday things due to the price fluctuations and fees.

What do you guys think? This one's similar to Tether, but isn't tied to gold or fiat. Would love peoples thoughts on this subject. https://havven.io/

this will be great news to all bitcoinist much more for all trader hopefully it would be done ASAP Smiley
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March 09, 2018, 09:59:08 AM
 #11

so I heard about this project called Havven. they recently sold out their ico and their whole idea is being a stablecoin and payment network. They are meant for everyday purchases for the crypto economy so we don't have to worry about price volatility.

I see this as a huge upside to btc since I see btc more as an asset that appreciates. It's impossible to use it for everyday things due to the price fluctuations and fees.

What do you guys think? This one's similar to Tether, but isn't tied to gold or fiat. Would love peoples thoughts on this subject. https://havven.io/
Stable price will not excite the expectation of people as it is what it is. I think the bitcoin's volatility isn't really the weakness, i guess its high volatility rate is one of advantage of bitcoin among other cryptocurrencies. What people look forward to bitcoin is the variation of price and they made it as an investment with really great future which i do not think that coin will have.
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March 10, 2018, 10:00:53 PM
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 #12

As far as I can tell, this stable-coin has the same problem as Tether. It relies on a trusted third party to hold the market cap equivalent in dollars. Assuming that I am not mistaken, then I don't understand the need for two tokens, except maybe so it doesn't look exactly like Tether.

I'm pretty sure it doesn't...that's why they have a dual token system. they value is derived from havven tokens that provide the collateral for the paltform. Nomin tokens, a stablecoin, are issued against the value of the collateral token. This dual token approach incentivises users to hold havven tokens because network transaction fees are paid to havven holders. As more people use nomins for everyday transactions, the value of havven tokens will increase due to the higher fees generated.
John Langut
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March 10, 2018, 10:28:26 PM
 #13

I think Bitcoin has more important weaknesses than volatility that Havven won't solve. Number 1 weakness: it's not created by a government. It will be taxed like property and regulated like securities, if not FUDded to death.     
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March 11, 2018, 06:13:44 PM
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As far as I can tell, this stable-coin has the same problem as Tether. It relies on a trusted third party to hold the market cap equivalent in dollars. Assuming that I am not mistaken, then I don't understand the need for two tokens, except maybe so it doesn't look exactly like Tether.
I'm pretty sure it doesn't...that's why they have a dual token system. they value is derived from havven tokens that provide the collateral for the paltform. Nomin tokens, a stablecoin, are issued against the value of the collateral token. This dual token approach incentivises users to hold havven tokens because network transaction fees are paid to havven holders. As more people use nomins for everyday transactions, the value of havven tokens will increase due to the higher fees generated.
Thanks for correcting me. I think I understand now. The peg is done by only allowing havvens to be traded for $1 in a trustless market, whereas the nomins, which are backed by havvens, can be traded anywhere for anything. It's a clever idea.

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rmilly
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March 13, 2018, 12:17:34 AM
 #15

so I heard about this project called Havven. they recently sold out their ico and their whole idea is being a stablecoin and payment network. They are meant for everyday purchases for the crypto economy so we don't have to worry about price volatility.

I see this as a huge upside to btc since I see btc more as an asset that appreciates. It's impossible to use it for everyday things due to the price fluctuations and fees.

What do you guys think? This one's similar to Tether, but isn't tied to gold or fiat. Would love peoples thoughts on this subject. https://havven.io/

         Havven is a good project and i know it will success but don't compare it to bitcoin because tis two are different. They are created for different reasons and purpose. In terms of value bitcoin is sti valuable among all other coins. Being volatile of bitcoin is not a weakness but a characteristic of a profitable coin when you invest it. If havven created to be a stable coin how can the investors make a huge profit from it?i think no other coins can surpass bitcoin inspite if fluctuation and higher fees bitcoin is still the best coins for me.
         

I agree. I think as a community when btc was first issued, it had a different use case than how it is used now. Bitcoin was not only created to be decentralized, but used. But with the price going crazy every few months, it's not so smart to use it. I think havven puts up a very ideal system to solve the volatility. I would read more into how they're set up. There is profit to be made. https://havven.io/uploads/havven_whitepaper.pdf
MakeMoneyBtc
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March 13, 2018, 12:25:54 AM
 #16

Actually this is not the first and surely not the last project that wants to create a coin better than bitcoin with more advantages that would become s better payment currency since they solved all of the problems with fees and volatility of the price. It is not enough to just create the coin because you need to gain some popularity and most important trust in order to become a cryptocurrency that people are going to use for payments. I agree with the idea that bitcoin has many disadvantages now compared with other coins but I think they can be solved in time. The thing is that people are no more iinterested in bitcoin as an investment and not as something to pay with for their needs so a new coin created and promoted from the beginning with the idea of being a payment currency has a big potential to become something great.
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March 13, 2018, 12:25:59 AM
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theres a lot of altcoins that are created to compensate the bitcoin weakness which is high transaction fee and the time of confirmation not just havven,  but am pretty sure there will come  time an altcoin that is backed by fiat money, well just wait for that. Smiley

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March 14, 2018, 09:33:38 PM
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Havven is a great project. I like that it's not pegged to fiat (which is the point of crypto, no??). Very smart way they went about creating collateral.
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March 14, 2018, 10:31:40 PM
 #19

One of the biggest issues with bitcoin is scalability. So I don't see how havven solves this. The story about stablecoins are entirely different. That's why I think the title of this thread is a little misleading. Overall, Havven is a really interesting subjects. It's on my watch list. Waiting to see how things progresses.
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March 14, 2018, 10:53:55 PM
 #20

I think Bitcoin has more important weaknesses than volatility that Havven won't solve. Number 1 weakness: it's not created by a government. It will be taxed like property and regulated like securities, if not FUDded to death.     

before people said that bitcoin has advantage that bitcoin is not controlled and not issued by government.
and now i read this, it has turn out into weakness rather than advantage. if government can not tax it or control it then the FUD news will always spread around bitcoin.
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