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Author Topic: Sold BTC for Solidcoins.............  (Read 969 times)
general.crackdown
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September 07, 2011, 11:29:50 PM
 #1

I have decided rather than keeping all my monetary value in Bitcoins that I am going to change some of them to Solidcoins. http://www.solidcoin.info/

I think Solidcoins have much more potential for growth in the current economic climate with little downside risk. The Solidcoin people seem to have very good business sense and are quite straight forward. Often in new ideas you need forward looking people like this. What I am actually doing is taking a hedge against the Bitcoin in the Solidcoin market. Solidcoin fails - Bitcoin up. Bitcoin fails - Solidcoin up. I think there is alot of hype around Bitcoins right now and the price is being held artificially high by a dedicated group of followers unschooled in trading who will watch their wealth fall to nothing. Solidcoin is emerging as a serious competitor to Bitcoin and I want to be one of the early starters. Solidcoins are cheap right now but the price is going to skyrocket as more exchanges adopt it and more ways to purchase it online appear.

Looking back at the Bitcoin rush I can see similar happening with Solidcoin quite soon and I'm scared of losing value with my Bitcoins in $ terms.

Why doesn't MtGox build in Solidcoin functionality then we can see the free market at play with both Solidcoin and Bitcoin? The entire point in an exchange is that you exchange things - there shouldn't be a solely 'Bitcoin' exchange. All currencies should be allowed to compete and the market, not a group of people with a special interest, will decide the value. People will find ways to arbitrage the Solidcoin/BTC outside MtGox if they don't have Solidcoin capacity and they are just losing business for no reason. The majority of exchanges will adopt Solidcoin as a currency in the longer term as their business model is turnover based.

I'm in at 1 SC = 0.009 BTC. I can't see any reason why in the future they will not reach parity since they are both highly similar currencies.

I am concerned that the next time Mt.Gox has 'problems' the demand for Solidcoin will rise along with price and I am going to miss out on a Solidcoin rush. MtGox has been around for a while now and doesn't seem to be improving much as time goes on. The charting facilities provided are basically crap and need fixing. - you can't argue with that really.

I haven't put many BTC to Solidcoins but I thought at the current price and low risk/high reward it was worth a punt. If the price starts to rise I have a war chest standing by to quickfire invest so I don't lose too much in the Bitcoin market if the Solidcoin market rises.

I bought 900 SC for 10.8 BTC. If they were to reach parity it would be epic but I haven't lost much if they don't.

I only do this for fun anyway... Grin  
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simonk83
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September 07, 2011, 11:34:15 PM
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Good luck with that.
general.crackdown
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September 07, 2011, 11:35:04 PM
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Good luck with that.

Loads of people said that when Bitcoin started.
general.crackdown
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September 07, 2011, 11:41:00 PM
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Good luck with that.

Loads of people said that when Bitcoin started.

I like 'em the tech but around here the past couple weeks you might get treated like you just knocked over an old lady in a walker crossing the street and then spat on her as she cried for help. lol

Whys that Huh
general.crackdown
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September 08, 2011, 12:04:15 AM
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I'm not really interested in this childish nerd infighting and its certainly not going to cloud my investment decisions. Solidcoin on the face of things appears to be hugely underpriced right now.

Solidcoin is very similar to Bitcoin and I think that Solidcoins at the current exchange rates (1 SC = 0.01 BTC) represent a very good price to buy in terms of Bitcoin prices. These are the sort of prices you look back at and think..........damn it!

The entire theory behind this 'Bitcoin' as far as I can see is that it allows people to determine the price as they see fit without Government intervention. What we can see here already is the makings of a 'BTC Central Bank' that are going to dictate to us all what a Bitcoin is worth in terms of Solidcoins and whatever else they view as a threat to their slightly precarious positions. I'm sick of people telling me Solidcoins are worthless - its the free market! Its my choice not the Bitcoin Mafias!

I also have found these Solidcoin/Bitcoin exchanges much better than MtGox:

https://btc-e.com
https://moonco.in/

I have used them to hedge against Bitcoin in the Solidcoin market (on two separate sites for security). No Forex trader in their right mind would keep all their reserves in a single currency i.e: solely Bitcoin or Solidcoin. It as bit like me saying 'I like America - so I'm always going to keep my funds in US$ overnight regardless of the interest rate'.

These nerds might let their small bitch match cloud their way of their investment decisions but I warn you all now that most people (especially real traders and investors - people who don't care about programming, hacking or being a gimp - the ones who provided most of the $70'000'000 of capital currently in the bitcoin market) are not remotely interested in 'who hacked who' or whatever you lot do in the rest of your lives and will invest where they see the correct signs rather than on which side they are in a petty feud. They will not base their decisions on the decisions you do because they don't care. If these boorish nerds are truly interested in crashing all the .coin markets I suggest they carry on as they are creating severe uncertainty which investors don't like and avoid. This unnecessary uncertainty will cause investors to remove their funds from the .coin markets, kill their capitalisation and destroy everything.

I have never said I prefer Bitcoin over Solidcoin or vice versa. I couldn't care less to be honest. What I'm going to do is wisely keep a reserve of both, adjust as necessary - and see how this plays out so I can profit the most.

Don't let your childish infighting ruin one of histories greatest ideas. Grow up.

One of the main problems is we have lots of technocratic 'computer people' who are good at hunting down little 'bugs' but have no common sense. There are loads of geeks programming bots, widgets and nintendos or whatever else excites them and the big picture has been totally missed.

The irony of this situation - we have a group of 'Bitcoiners' who dedicate themselves to free transactions, free trade and competitive markets who then argue the case for and try to obtain a monopoly with their new currency because they don't like competition!

  
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September 08, 2011, 12:42:59 AM
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Well said, general!
If you want solidcoin to be real business, then treat it like real business. That's how I made money today with solidcoins.
gw4tt
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September 08, 2011, 01:11:47 AM
 #7

i0coins and IXCoins are even cheaper. Get more of them quick before they rocket off to the moon.
general.crackdown
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September 08, 2011, 01:13:01 AM
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i0coins and IXCoins are even cheaper. Get more of them quick before they rocket off to the moon.

I already do since I have a spread of electronic currencies. I imagine you have all yours in one. Smart. Roll Eyes
Oldminer
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September 08, 2011, 04:14:06 AM
 #9

i0coins and IXCoins are even cheaper. Get more of them quick before they rocket off to the moon.

Im way way ahead of you Wink

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
general.crackdown
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September 09, 2011, 04:18:51 PM
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i0coins and IXCoins are even cheaper. Get more of them quick before they rocket off to the moon.

Quick Buy more Bitcoin before they rocket off to the Moon!
P4man
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September 09, 2011, 04:55:23 PM
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I dont see anything improved worth mentioning. Looks like a case of bitcoin envy to me, someone who missed the boat with bitcoins and figured he'd just start over with essentially a perfect copy. I might as well start P4mancoins.

Of course, this was bound to happen, there never was a reason to assume bitcoins would become the only p2p cryptocurrency. Its one of its biggest weaknesses in fact, its a great idea, but anyone can run with it and if there are a 1000 competing and incompatible crypto currencies around, I kinda doubt any one of them will ever really take off. Almost makes me wonder if someone shouldnt patent it.

Anyway, on top of that, I dont feel like switching unless there is at least some tangible benefit. Solidcoins doesnt offer any.  A very low price isnt a tangible benefit, its a reflection of non existent demand.

worldinacoin
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September 09, 2011, 06:18:31 PM
 #12

For me I am mining SC instead of Bitcoin for the simple reason that it seems to be faster to mine SC than Bitcoin Smiley
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