[ANN] BitBean | Innovative PoS | Scalability | No IPO | No premine

[nomad13666]

I got over half a million of these beanies  whats the next move I'm sweating over here.

Remain calm and hold on to your beans with both hands 

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[fonzerrellie]

considering usually when this happens to a new coin the price would have probably been down to 5 sats by now, I think it's safe to say theres some good support for the community takeover

[alecaruc]

Bought under 10 sat and sold part of my beans at 18-19 sat. Easy double up

[kcanup]

considering usually when this happens to a new coin the price would have probably been down to 5 sats by now, I think it's safe to say theres some good support for the community takeover

I was surprised too.. Usually when coin is about to die price goes to 1 satoshi and no buy support at all but we still have nice buy support from people even after this whole mess.

[fonzerrellie]

just an idea to throw out there, since people are always worried about inflation getting out of control. my thought is that adding something like big tx fees that get auto burned to help keep the money supply down it would be cool... BALLS does 15 coins per transaction

[kcanup]

just an idea to throw out there, since people are always worried about inflation getting out of control. my thought is that adding something like big tx fees that get auto burned to help keep the money supply down it would be cool... BALLS does 15 coins per transaction

That was being discussed in irc.. Expect something like that in the new update as we still have to reached conclusion what amount will be suitable.. Ideas and suggestion from community are wide open options as we all are doing some volunteer works to get this thing moving forward now.

[leonar76]

amazing buy wall at 15sat , good trend. To moonnnnnn

[fonzerrellie]

just an idea to throw out there, since people are always worried about inflation getting out of control. my thought is that adding something like big tx fees that get auto burned to help keep the money supply down it would be cool... BALLS does 15 coins per transaction

That was being discussed in irc.. Expect something like that in the new update as we still have to reached conclusion what amount will be suitable.. Ideas and suggestion from community are wide open options as we all are doing some volunteer works to get this thing moving forward now.

right on, lol sounds like theres more people working on this now than yesterday great stuff

[Jk423]

Is there a way to open mining back up or maybe add different algos at set times? Like a scrypt POW stage then an x-11 POW and so on and so on. and have each algo maybe cap at 10 billion each with proof of stake?

And if the limits were hit, it would go back to POW for transactions fees.

I just think having  a brand new coin that is mined in like 3 days was kinda off putting, you can only really buy BITB and the staking is keeping a lot of potential BITB off the market.

At the same time have some service for BITB wallets that can transfer the different algo coins between themselves?

Or can this coin be killed and BitBean2.0 rise from the ashes?

[fonzerrellie]

Is there a way to open mining back up or maybe add different algos at set times? Like a scrypt POW stage then an x-11 POW and so on and so on. and have each algo maybe cap at 10 billion each with proof of stake?

And if the limits were hit, it would go back to POW for transactions fees.

I just think having  a brand new coin that is mined in like 3 days was kinda off putting, you can only really buy BITB and the staking is keeping a lot of potential BITB off the market.

At the same time have some service for BITB wallets that can transfer the different algo coins between themselves?

Or can this coin be killed and BitBean2.0 rise from the ashes?

I think mining is a waste of electricity

[Tuwie2]

So I guess everyone is figuring out my post wasnt FUD, and wasnt intended to manipulate the market.

I was merely trying to keep the community informed as to what was happening.

A new ANN will be going up soon with some new information regarding moving forward.

[nomad13666]

[Jk423]

I don't see how auto burning transaction fees helps. It's like giving a dollar to a merchant and they throw away 10 cents. The 90c isn't magically worth a whole dollar now, just 10c is thrown away in the trash for no one to use. Everyone is losing money, I don't think its going to bolster the wealth, just make people wonder where all the bitbeans went. 1 transaction isn't many but it adds up to a lot of $$ just going out the window.

This is where I think  POW to POS coin fails. You shouldn't have to manipulate the money supply to keep it viable. It is patch being applied to a broken pipe. You need to cut the section of pipe out and replace it with another one if you don't want it to spring a leak down the road.

A look at the bock chain shows ~1650 funded addresses. The top 20 own > 50% of the network. So if you're on top I can see why TX fees can just be burnt, but how is anyone suppose to climb the ladder without buying a small fortunes worth? Who is going to want to buy in when 20 people own more than 50% of the supply.

[birdcat90]

i will wait this coin under 10 sat again..

then boom will buy and sell for 20 sat, hope this business can make easy coin lol..cmon mr bean you can do it

[bitwarrior]

Has the bubble burst already for this coin? It was only 4 days ago that this con has a peak selling price of 50 satoshi and it is sinking again towards 15 sat. Any good updates?

[bitcoinreviews]

I don't see how auto burning transaction fees helps. It's like giving a dollar to a merchant and they throw away 10 cents. The 90c isn't magically worth a whole dollar now, just 10c is thrown away in the trash for no one to use. Everyone is losing money, I don't think its going to bolster the wealth, just make people wonder where all the bitbeans went. 1 transaction isn't many but it adds up to a lot of $$ just going out the window.

This is where I think  POW to POS coin fails. You shouldn't have to manipulate the money supply to keep it viable. It is patch being applied to a broken pipe. You need to cut the section of pipe out and replace it with another one if you don't want it to spring a leak down the road.

A look at the bock chain shows ~1650 funded addresses. The top 20 own > 50% of the network. So if you're on top I can see why TX fees can just be burnt, but how is anyone suppose to climb the ladder without buying a small fortunes worth? Who is going to want to buy in when 20 people own more than 50% of the supply.

I agree with most of what you said. POW uses a ton of electricity and is a big waste.

Instead of burning a % of peoples money every transaction why not make the POS blocks half or decrease similar to bitcoin.

I still see beans on the moon and so I continue to stake like a champ  

[usamamalik555]

helo guys,, Dont sell your coins @ cheap Price..Then Price Will Rise again

[portice]

helo guys,, Dont sell your coins @ cheap Price..Then Price Will Rise again

k, ty for the tip

[amesterdamer]

"hold your beans like a man!"

[usamamalik555]

Game Over