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Author Topic: Why I think I0Coins should retain value, if not increase...  (Read 1153 times)
Mousepotato
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August 19, 2011, 04:20:30 PM
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Ok, it's common belief that I0Coins are pretty much the same as IXcoins in nature and that their only purpose is for trading on the exchanges.  However, at this time there's one HUGE advantage I0Coins have over IXcoins (and Namecoins for that matter):  An encrypted wallet.dat.  This is going to be a HUGE factor for people who want an additional layer of security for their digital currency.  Got a bunch of BTC sitting on your computer?  Exchange it for I0C and encrypt the wallet!  That, along with other measures of securing your wallet.dat should sufficient to reasonably protect your coins.

Of course the only way people would use I0Coins as a security measure would be if the market price held stable, or at least were tied, in some scale, to the exchange rate of the BTC.  So stop selling your I0Cs for such low prices! k?  Thx.

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Chris Acheson
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August 19, 2011, 04:35:05 PM
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You realize that the wallet encryption code in the I0coin client was just taken from the Bitcoin client, right?  It'll be enabled once it's been fully tested, so even this small advantage isn't going to help I0C in the long run.
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August 19, 2011, 04:44:06 PM
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You realize that the wallet encryption code in the I0coin client was just taken from the Bitcoin client, right?  It'll be enabled once it's been fully tested, so even this small advantage isn't going to help I0C in the long run.

However, at this time there's one HUGE advantage I0Coins have over IXcoins

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August 19, 2011, 04:49:47 PM
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Their launch was notably "clean" when compared to either IXCoins or Bitcoins. That's one advantage. If both were valued equal, people would prefer i0coins over actual Bitcoins.
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August 19, 2011, 04:58:14 PM
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Their launch was notably "clean" when compared to either IXCoins or Bitcoins. That's one advantage. If both were valued equal, people would prefer i0coins over actual Bitcoins.

Bitcoin wasn't really "launched" so much as it was rolled out.  There wasn't much fanfare when the first blocks started being mined out, and this was entirely due to lack of awareness of the project.  Both IXCoins and I0Coins suffered from their own set of issues which are discussed in other threads.  And however much I'd like for I0Coins to be valued at 1:1 to Bitcoins, I don't think anybody would want them more than Bitcoins since you can't really do anything with them except trade them in for Bitcoins.

Does anybody else find it weird that the term "Bitcoin" gets a red underline on this board? Smiley

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August 19, 2011, 05:15:00 PM
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Their launch was notably "clean" when compared to either IXCoins or Bitcoins. That's one advantage. If both were valued equal, people would prefer i0coins over actual Bitcoins.

Bitcoin wasn't really "launched" so much as it was rolled out.  There wasn't much fanfare when the first blocks started being mined out, and this was entirely due to lack of awareness of the project.  Both IXCoins and I0Coins suffered from their own set of issues which are discussed in other threads.  And however much I'd like for I0Coins to be valued at 1:1 to Bitcoins, I don't think anybody would want them more than Bitcoins since you can't really do anything with them except trade them in for Bitcoins.

Does anybody else find it weird that the term "Bitcoin" gets a red underline on this board? Smiley

The board doesn't give the redline, it is from your browser (is it?). Right click, add to dictionary.

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August 19, 2011, 05:28:55 PM
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The board doesn't give the redline, it is from your browser (is it?). Right click, add to dictionary.

Awesome!  I always thought it was the actual forum that did that lol

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August 19, 2011, 07:48:29 PM
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And however much I'd like for I0Coins to be valued at 1:1 to Bitcoins, I don't think anybody would want them more than Bitcoins since you can't really do anything with them except trade them in for Bitcoins.

You couldn't do anything with Bitcoins except send them around and mine them for a while either... I0coins are less than a week old, it will take some time before you can do a lot of different stuff with them. If a merchant decided on day 1 to take I0coins it would still take them time to arrange it... So the fact that about all you can do with I0coins right now is trade 'em for bitcoins is pretty likely to be temporary.

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August 19, 2011, 09:08:14 PM
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People are exchanging Bitcoins for actual money (USD, Euro, etc) that you can buy food with. Why would I go through the trouble of getting I0coins to trade for bitcoins to then exchange for actual money? (especially considering fees for each level of exchange) Other than the encrypted wallet, what exactly does i0coin and any of these alternative cyrptocurrencies do better than bitcoin when they're from that same source code? The advantage with Bitcoin was that it CAME FIRST. Yes, the adoption of bitcoin was slow and you couldn't do anything except mine and send them around but that's the past when there was no alternative. Explain with a rational logic why a merchant would use i0coin when there is bitcoin (along with namecoin, ixcoin, scamcoin, crapcoin and whatever currency people what to make) already in the market?

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August 19, 2011, 09:21:52 PM
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So stop selling your I0Cs for such low prices! k?  Thx.
No, I will continue to devalue your I0coin wealth. Grin

At first I thought other block chains were cool experiments, but now it’s become boring. This development is also reflected in the price tops of the block chain currencies based on their recency: Namecoin spiked to 0.14, Ixcoin to 0.01 and I0coin to something like 0.0058.

It was nice to make a profit off them by mining/speculating, but I’ve liquidated all my inferior-coins a while ago in expectation of a Bitcoin rally.

The only things I’d find interesting to see now are *coins that are 100% generated within a few weeks and a block chain where the block reward increases with difficulty.

"Bitcoin had been transformed from an anarachistic challenge to the financial status quo, to the crypto spawn of Satan, fuelled by cut-throat greed and delusions of avarice." - MatTheCat
"these people don't seem to want to stop till Bitcoin is completely destroyed and left like an old cum rag in the corner of the room." - ShroomsKit
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August 19, 2011, 10:47:49 PM
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The only things I’d find interesting to see now are *coins that are 100% generated within a few weeks and a block chain where the block reward increases with difficulty.

You do realize that a block chain where block reward increases with difficulty wouldn't help people's earnings, do you? It would just prevent the exchange rate from ever growing much at all. Way too much inflation of the supply.

More so, It would most likely end up with the currency devaluing and crashing completely (assuming it ever took off, which I doubt). The only way it could work is if the coins were also destroyed at a similar rate.

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August 19, 2011, 11:46:51 PM
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You do realize that a block chain where block reward increases with difficulty wouldn't help people's earnings, do you? It would just prevent the exchange rate from ever growing much at all. Way too much inflation of the supply.

More so, It would most likely end up with the currency devaluing and crashing completely (assuming it ever took off, which I doubt). The only way it could work is if the coins were also destroyed at a similar rate.
The factor at which it the reward increases in relation to difficulty can be tweaked so that the inflationary effect can be limited. I think there could be a sweet spot between early adopter and late adopter incentive so that the currency could grow organically rather than in a hype fashion, but I’m not even sure how it would all play out, that’s why I want to see it.

Also, I didn’t say it would be successful, I’m just saying I’d find it an interesting experiment.

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April 05, 2013, 02:53:42 PM
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I love browsing the back end of the alt coin pages.  Roll Eyes

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April 05, 2013, 04:22:59 PM
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I love browsing the back end of the alt coin pages.  Roll Eyes

What happened to I0Coin? Was it just a clone of Bitcoin?
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