BANKSYCOIN (SOON TO BE ARTSYCOIN) - ORIGINAL OFFICIAL THREAD

[layer1gfx]

it was the current team who are responsible for the website.
that is good work, i hope they come back soon

nope.

they didn't do the website, they just took over.

anyway in case u missed it it's already 2nd generation but soon to be 3rd. or who knows.

[1715070576]

1715070576

[1715070576]

1715070576

[pineapples]

what would be initially useful, is the ability to trade digital images on the website.
being cheap and forever, could create a bit of a movement in the coin.

i just created a profile and it looks like the user/artist side of the site needs a bit of work. before it is really useable.

[layer1gfx]

you can now hire me paying with BSY

[pineapples]

you can now hire me paying with BSY

lol, is 33,000,000 BSY the real price ??

[layer1gfx]

you can now hire me paying with BSY

lol, is 33,000,000 BSY the real price ??

at the current rate of 1 satoshi for 1 bsy - yes

[pineapples]

unfortunately that is highly unlkely that anyone can rustle up 33 million for 1 sat
that is nearly 1/3rd of total supply.

what i see as necessary is to actually sell stuff. and i can see two ways.

one) would be slow. selling cheap stuff, whilst ensuring adequate liquidity in the market.
this could be long winded, as it depends on where the liquidity is coming from (from the seller, then it doesnt really help with locking BSY into a useful retail cycle, only a small amount will be conintually recycled)
also depends on a lot of sales (to get the price up), and market confidence (to prevent dumping)

two) would be to get some awesome legit artworks on site retailing for > 1 btc.
  and get a good supply of BSY on the market AT a useful price such as 200-300 sats

again this would require a few sales to really boost the price.
and may be useful to creep the price up more slowly (eg start at 100 sats) - as long as there is adequate liquidity.

early deals could result in discount prices for the purchaser, but if it were succesful, then long term prices would result in the seller not losing out if they held long enough.

===

number two relies on having a useful price for BSY and liquidity.
seems little point in pricing items at teh desired exchange rate, when anyone can sell their holding at far below and no doubt make a sweet profit

105million BSY at 0.03 usd is a 3million $market cap
sweet but will take some work to get there..

[layer1gfx]

unfortunately that is highly unlkely that anyone can rustle up 33 million for 1 sat
that is nearly 1/3rd of total supply.

what i see as necessary is to actually sell stuff. and i can see two ways.

one) would be slow. selling cheap stuff, whilst ensuring adequate liquidity in the market.
this could be long winded, as it depends on where the liquidity is coming from (from the seller, then it doesnt really help with locking BSY into a useful retail cycle, only a small amount will be conintually recycled)
also depends on a lot of sales (to get the price up), and market confidence (to prevent dumping)

two) would be to get some awesome legit artworks on site retailing for > 1 btc.
  and get a good supply of BSY on the market AT a useful price such as 200-300 sats

again this would require a few sales to really boost the price.
and may be useful to creep the price up more slowly (eg start at 100 sats) - as long as there is adequate liquidity.

early deals could result in discount prices for the purchaser, but if it were succesful, then long term prices would result in the seller not losing out if they held long enough.

===

number two relies on having a useful price for BSY and liquidity.
seems little point in pricing items at teh desired exchange rate, when anyone can sell their holding at far below and no doubt make a sweet profit

105million BSY at 0.03 usd is a 3million $market cap
sweet but will take some work to get there..

here is what i think (and i still kind of like this coin)

---

first,
unfortunately BSY is highly unlikely worth anything more than 1 sat right now :|
or gone with the wind soon.

but if you look closely you'll spot the "MAKE AN OFFER" button

so you are free to ignore the "real price" and ask for a "token" price.  

anyway, what i see is the reality.
and this reality tells me i can't use the coin properly because

a) the new devs are ... who knows maybe trapped in a different time zone?

and

b) no exchange website wants useless crap - so i can't resell BSY for a decent price.

this is what we are looking at NOW.

i am a bit sick of hoping and waiting, this is how scammers get where they want.
lots of BS promises but no real action.

sure, it could work if you have some cheap fan articles or any junk for sale and don't mind loosing money.
some people make even cash selling used or broken goods on ebay...

but for a real artist who tries to live from selling original "one of a kind" artwork?

sorry, but not the best choice buddy.

"to get some awesome legit artworks on site retailing for > 1 btc"
this could be done.

200-300 sats is still too cheap it should be rather 2000 to 3000 sats.

for your information, i still stake-mine BSY and hope a little more it would turn out to be a good decision.

but right now...

[pineapples]

200 -300 sats would be useful for an interim price.

selling 1btc worth at 200sats. would bt 500k BSY
so a few items actually sold at this price may move the coin up a little, given total coin count.

1 btc at 3k. would be only 33.3k  BSY
price would get dumped so hard without solid support and confidence.

looking at 200 sats seems too high atm :p maybe 150 sats would be better ...
the question is. who holds the banksy and what are their intentions.

after all, their enough BTC in private wallets that isnt moving, to crash the BTC price to cents. but the holders are not moving it.
unless there is similar motivations for BSY it will never get over even 100 sats without major purchasing
AND their needs to be the BSY on the market ..

[layer1gfx]

@pineapples
i would be willing to change the price off my offer to do an experimental trade and give an example of how banksycoin could be used.

my rate is as high as 199 sat / BSY and i would accept the payment of 155045 BSY for a button design.

edit: i also changed that in my current auction on bidcoind.

[pineapples]

i still think theres a major problem with liquidity :p
someone needs to supply a good quantity of BSY for use.

i actually think one of the flaws with bidcoind is a static alt price. where there could be a floating buy now option. such as buy this object at .3btc worth of BSY which is ...

hahaha which is atm impossible to buy

if you hold some. it might be useful to put a bunch at a suitable price haha it seems so counterproductive to sell yr own BSY so someone can buy something off you ..
but, if you put a bunch say at 100sats. a sufficient quantity to pay for your goods. then perhaps you would end up with the BSY back plus a little bit of BTC

[pineapples]

hmm, where be them devs

[layer1gfx]

it feels a bit silly to play with virtual money that might be worth something - or not.
i have many ideas but the guys who hold the keys to everything are not responding.

+-#~ ///&%$ :-( (comment deleted)

if there is no change soon i propose a branch off the existing github source and do an experimental underground streetart version of the official wallet.

the staking is still intact so nobody loses anything.

i could host the modified source on my own github account.

enough of waiting for xmas presents...

get the cans and stencils out and hit the city

[banksycoin]

Hi All,

A long anticipated and eagerly awaited response (and ongoing stream of updates) is finally here.

I would like to open with an apology to the community for the extended delay in our updates. The mixture of Holiday activities combined with our activities surrounding taking over the coin resulted in a lengthier time for updates than originally expected.

Our team is thrilled to be heading up this coin and have very ambitious plans. We are looking forward to expanding the BSY community and taking this coin further.

We have now established partnerships with some very active developers in the community and are continuing to expand. As things move forward you can expect more frequent updates on all sides as we all make this coin grow into something amazing.

Looking forward to working further with everyone

[bitcoinicon]

Hello BanksyCoin community,

On the back of the post from the dev team I would like to introduce myself, I am Ricky or better known as the Tittiecoin guy/dev

I reached out to the community and Dev team not to long ago in order to propose a takeover or "Team merger" with BanksyCoin as I feel there is masses of untapped potential here. I'm using the Bitcoinicon profile so I don't associate BanksyCoin with my other project.

I am very excited to announce that we have had contact with the recent BanksyCoin dev team as well as a long telephone conversation that resulted in a team merger rather than a takeover. This is very good news for both teams as we have different strengthens and will be able to bring new technology and fresh ideas from both sides.

There are already a few projects underway for BanksyCoin from our end that are aimed at increasing community engagement, exposure and improving upon the current look and feel of BanksyCoin.

• BitcoinTalk thread revamp
• BanksyCoin faucet with Promo code giveaway
• Official Mining pool
• BlockExplorer
• Wheel game
• Dice game

We also have plans to introduce our web wallet feature in the near future, this will allow purchasing from the Banksy Store from within the wallet.

The current Dev team has some very exciting plans for BanksCoin as well and I am thrilled to be part of the future of this great coin!

Best regards

Ricky
Team BanksyCoin

[madmartyk]

Art and titties go so well together!!

[banksycoin]

Art and titties go so well together!!

Hehe, although this may be true the coins will be kept separate since there are cases where art and titties do not combine so well.

The potential for use of technologies that we have available across both systems is something that shows great potential so we are excited to see how to extend and enhance this type of functionality for artists and creative people. The combined efforts that are now being put forth will be sure to significantly benefit both coins.

what would be initially useful, is the ability to trade digital images on the website.
being cheap and forever, could create a bit of a movement in the coin.

 

[bitcoinicon]

Well said and very true!

There's only one way from here on in and that's up!

[layer1gfx]

your inability to communicate properly with your community caused me a loss of more than 1 million BSY on coin-swap and allcrypt. please check my PM and let me know how to proceed.

best of luck with the new team

[banksycoin]

your inability to communicate properly with your community caused me a loss of more than 1 million BSY on coin-swap and allcrypt. please check my PM and let me know how to proceed.

best of luck with the new team

You have a PM

[layer1gfx]

your inability to communicate properly with your community caused me a loss of more than 1 million BSY on coin-swap and allcrypt. please check my PM and let me know how to proceed.

best of luck with the new team

You have a PM

issue solved. thanks a lot guys.