[ANN] BitBean is Now Bean Cash | First v3 POS | First 20MB Max Blocks | 7+ Yrs.

[inyereye]

congrads with 1B!! but how many coins all ?  1B or more? - i see what POW still to go!

There is no POW,  it is a 100% POS coin and has been for a while now.

[BitcoinNational]

well the give away can't hurt ... much.
roll with it.

but in general 'give-aways' haven't shown much return on cost
so it is a well tested idea, that does not work well
but if you put the right spin on it it can work

again
hope for the best but expect little

[inyereye]

well the give away can't hurt ... much.
roll with it.

but in general 'give-aways' haven't shown much return on cost
so it is a well tested idea, that does not work well
but if you put the right spin on it it can work

again
hope for the best but expect little

I beg to differ.

 A giveaway is a good way to draw attention to your coin/product/service, but only if there are sufficient enticements in play to convert that attention into customers/new investors.

 Throwing out a giveaway like this for a currency that isn't spendable has zero potential to increase value, the most likely outcome is that the 1 mill bitbeans gets dumped onto the market dropping value for current investors further.

  The smart move would have been to find an outlet, game, or other good/service to partner with and give people a way to spend bitbeans, generate actual market interest and then put together a giveaway as a way to draw attention. The giveaway, in order to be successful must be one part (normally the last part) of a much bigger plan, and must be executed to draw attention at the right moment and to the right aspects of the offering.

  Instead, Team Bean is drawing attention to:
- A huge supply of bitbeans already out there and being staked by current holders, which is a barrier for any serious new investments unless the beans can be spent somewhere
- Bitbean.org - Not updated with any of the recent news, with promises dated in the past that never came to light which deter serious new investments (seriously, before launching a PR campaign/marketing stunt you didn't even take a few hours to update your main portal? come on... It's as if Team Bean doesn't even believe bitbeans are worth an actual effort.)
- A contiinued failure to address actual constructive criticism and only respond to positive "happy happy" messages, looking for people to blindly "Jump on the Beanwagon".

  Numerous altcoins are currently partnering with the CAT trading bot, that might be a good start.

  The current actions by whomever is calling the shots at Bitbean show a lack of solid business sense, failure to comprehend how to overcome the obstacles in their way, and don't correspond or contribute to the overall mission statement. Coupled with poor communication/PR and an inability to address criticism and valid concerns with solid, mature and logical counterarguments this only leads to a further drop in the overall value and public opinion of bitbeans. Ignoring those who point out valid concerns and only responding to positive messages of encouragement is just another sign of a lack of maturity and the kind of good business sense required to "Lead the mass adoption of crypto".

   I don't say this as a bean hater, I say this because it seriously disappoints me to see Team Bean shooting their own crypto in the foot. I'm torn at this point as to whether they are delusional in thinking their actions are in the best interest of bitbeans growth and working towards the stated goal or intentionally still trying for repeated pump and dump quick-cash with little work schemes.

  To summarize: This giveaway is badly timed, ill conceived and a waste of funds that could have been used for far more practical purposes, which in the long run does hurt bitbean.

BEFORE BUYING BITBEANS, READ BACK THROUGH THIS THREAD AND MAKE SURE YOU ARE AWARE OF THE HISTORY. PUSH FOR RESPONSIBLE MANAGEMENT AND USE YOUR INVESTMENTS TO ENCOURAGE IT.

There are many positive aspects to bitbeans, but the track record of the current management means you should inform yourself appropriately before investing any significant funds. Blindly buying into hype will not in any way "Lead the mass adoption of cryptocurrencies".

[inyereye]

Checking the twitter accounts entering the giveaway (check the bitbean.org forums) and noticed that they're all shill accounts that do not much but retweet contests related to crypto. Most under 250 followers with one exception at around 1500. No real quality crypto enthusiasts jumping in, about what I expected to see.

Further, seems to be a lot of public stink being made about the use of "Sprouts" terminology. As I said earlier, it doesn't matter if YOU, Shawn Kent AKA Bitbeaner don't think you're infringing on another altcoin, it only matters what the public thinks and they seem to think it stinks. You really need to figure out that there is truth behind the old "Customer is always right" addage. I'd recommend a polite backpedal on that one if you hope to recover your brand image, you're not doing yourself any favors trying to argue.

Wish that you'd create some original and insightful posts for the @bitbeancoin account on twitter too. I'm happy to see it is active again, but re-tweeting unrelated crypto news and opinion is pretty simple. Show originality and innovation to really draw attention to your brand, craft your own posts and generate a following by being someone people want to listen to.

[inyereye]

Hey guys
How to buy bitbeans?

1) Go to bitbean.org and check out the exchanges bitbeans are listed on
2) Go to the exchange of your choice and buy bitbeans

Different exchanges may offer you different pairings (BTC/BITB or DOGE/BITB for example) and different exchange rates.

Cryptsy and Bittrex are two popular exchanges where they are available. Bleutrade also has them although I don't use that one.

Make sure you know what you are buying and do a bit of research into the history but if you're ready to buy, those tips should help

[Brob12321]

Bitbean is pretty cheap right now seems like a good time to buy some.  Although, the price of Bitcoin is skyrocketing so I feel like that is taking away a lot of potential interest in altcoins.  People are simply keeping their Bitcoins.  But looking at historical prices of Bitbean it had been up to 40 Satoshis not too long ago.  Now its at about 18 Satoshis.  That could be a big money maker if it goes back to 40 Sat thats a profit of 122%.  Although Bitbeans are valued in Bitcoins so the fiat value is probably pretty similar to the fiat value when the price was up at 40 satoshis because bitcoin was only like $230.  I don't know I'd have to do all the calculations, but all in all seems like a good time to buy a couple hundred thousand. 

[TeamBean]

Hey guys
How to buy bitbeans?

Right now the best place I recommend to buy BitBeans:  https://bleutrade.com/exchange/BITB/BTC

Bleutrade is our newsest exchange, that has BITB/DOGE & BITB/LTC pairings as well as BITB/BTC.
Cryptsy has a complicated system of tiers that requries you to give them samples of your DNA to get your funds out!
At the moment Bittrex is down for maintenance.

So the best option at the moment is Bleutrade, check them out..they have a very nice platform.

[inyereye]

Bitbean is pretty cheap right now seems like a good time to buy some.  Although, the price of Bitcoin is skyrocketing so I feel like that is taking away a lot of potential interest in altcoins.  People are simply keeping their Bitcoins.  But looking at historical prices of Bitbean it had been up to 40 Satoshis not too long ago.  Now its at about 18 Satoshis.  That could be a big money maker if it goes back to 40 Sat thats a profit of 122%.  Although Bitbeans are valued in Bitcoins so the fiat value is probably pretty similar to the fiat value when the price was up at 40 satoshis because bitcoin was only like $230.  I don't know I'd have to do all the calculations, but all in all seems like a good time to buy a couple hundred thousand. 

Unless you do your homework and read back through this thread and multiple other forums. Then you find that bitbeans were at 40 sats based on expected releases that bitbeaner promised, and then failed to deliver on. He lied to people, and as a result many of those (myself included) lost faith in his word and are extremely hesitant to get burned more. Those who bought in at 40 sats and held are now sitting on half their investment and there still isn't any meat on the bones as far as actual reasons the value would go up.

There are currently 1 billion bitbeans out there, that's a lot fo beans to dump on the market and drop value to less than the current 20 sats. There are also a total of 40 billion bitbeans ever to be distributed through exclusively POS methods, which means the richest will continue to get richer and have a head start over anyone buying in.

I guess it might be a good time to buy in from the perspective that: If you buy in now and bitbeans go down to 1 sat, you can only lose a maximum of 20 sats per bean as opposed to 40 from someone who invested 2 months ago.

Team Bean started out strong and had decent tech, good roadmaps and delivered as promise dbut over the last 4 months constant disappointment has been driving value to shrink constantly. Poor marketing decisions, a failure to show proper business sense, and an attitude of "I will respond only to positive encouragement and not address legitimate issues if they aren't coated in blind praise" doesn't point to a currency that will be increasing in value or leading the mass adoption of crypto anytime soon.

There may be profit to be made on slight fluctuations with bitbeans, but there is very little pointing to long-term growth at the moment and the management shows a complete lack of business sense.

Buying is up to each and everyone, but take the time to read through the last few months and get a bigger picture of the issues that bitbean will have to overcome, bitcoin price increasing definitely dilutes the overall value of alts, but in the case of bitbean that isn't the only reason the price has dropped.

Inform yourself, do research and invest your hard earned funds in places where the management and tech show potential to grow your investment. Look for management that isn't afraid to address naysayers in a mature and responsible manner and fight with facts.

[TeamBean]

Official Forum:  http://www.bitbean.org/forum/1-million-bitbean-give-a-way-contest

ß55,000 Given Away Already!

[inyereye]

Note: This post was in response to a post featuring a "Do Not Feed the Troll" sign immediately preceeding it posted by TeamBean which has since been deleted.

Not a troll when bringing up legitimate issues with your management Bitbeaner.  You need to learn how to address and not ignore issues.

I'm not some blind follower,  I look for solid investments in cryptography that really has potential to drive the adoption of cryptocurre cites,  that means responsible customer oriented management with good business practices.

I'm starting to realize you are probably a lost cause,  but I'll continue to warn others about the risks of trusting their funds to you even if it means I don't recoup what I've lost in value in my investment.

Grow up and get the help you need to grow this.  I know bitbean has potential,  but you show a complete disregard for how to ultimately reach it.

The best product in the world can fail under poor management,  I'd like to see bitbeans succeed.

Keep in mind that any serious investors or businesses you seek to partner with will do their research and see my points are valid. I've already had many PMs thanking me for pointing out the history and facts. Most of them just can't be bothered to give you feedback because they just move on to other investments.

I'm not going away,  I see the potential and believe in the vision,  you're just trying to take shortcuts and doing it wrong.

[TeamBean]

congrads with 1B!! but how many coins all ?  1B or more? - i see what POW still to go!

There will be a maximum cap of 50 Billion BitBeans. That cap will not be reached for another 95+ years!

BitBean is now a pure PoS (Proof of Sprout) crypto-currency. Proof of Work ended at block 10,000. Dormant Proof of Work source code will be taken out of Bean Core in a future release.

Best Regards,

Shawn Kent (aka Bitbeaner)
Project Manager & Lead Developer,
Bean Core, Team Bean, BitBean
"BitBean, Leading the Way for Mass Adoption of Crypto-currencies!"
www.bitbean.org

[BitcoinNational]

"50 Billion BitBeans. That cap will not be reached for another 95+ years"

"Blocks which are found through staking are static blocks similar to PoW. Each PoS block found will provide a reward of 1,000 BitBean."
block target time is 1 min ... and 1440 min/day.

so around 400M new beans per year. (rough math)

problem:  lots of inflation in the first years
benefit: after the initial years BITB becomes rather low inflationary yet allots for growth.

so it is a case of take your medicine early ... have a health coin later.

so this is not a quick road to riches but a smart/wise path to long term wealth.

[Faradey100]

I hold my Bitbeans for highest price:-)

[inyereye]

WARNING: Take the time to read back through this thread and other forums before investing in Bitbeans. It may be a good investment for you, but be sure to do some research and invest your hard earned money in Cryptocoins that show smart, strong and ethical management.

Undisputed facts:

- Shawn Kent AKA Bitbeaner has blatantly lied to investors/members of his community in the past. Most recently, an updated roadmap was promised after the new wallet release which has yet to be delivered
- Shawn Kent AKA Bitbeaner refuses to respond to or acknowledge anything but "happy happy" bandwagon posters. His preferred method is to ignore anything that isn't blindly positive.
- Value has dropped on Bitbean since the release of new wallets, senior community members recognize that a wallet release alone adds no value. He continues to go the minimal effort route with meaningless posts about "choosing a POS symbol" and giveaways that bring no long term value.
- Block rewards do not half and will remain 1k bitbeans per stake. This model leads to a rich getting richer scenario where you will never catch up to the holders of the current 1 Billion bitbeans in existence. This is a serious problem until there are outlets to spend bitbeans, or the previously proposed changes prioritising stakes to active/transacting wallets as opposed to hoarders are implemented, or both.
- Bitbean.org is apparently not worth updating, showing the minimal effort being put in by the dev. Correction, he has updated the site since I pointed out the lack of updates yesterday and has changed some dates (on the team bean page the "Team Portal" showed it would be delivered in May 2015 as of yesterday and now shows November 2015). The site previously hadn't been updated iin at least 3 months. To see the contents before the recent changes use the wayback machine: https://web.archive.org/web/*/bitbean.org

Disclosure:
- I own 250k+ Bitbeans bought at over 30sats. It is against my financial benefit to post these warnings, however I do so to push the current management to make concrete steps to work towards their stated goals and "mission".

[Brob12321]

Bitbean is pretty cheap right now seems like a good time to buy some.  Although, the price of Bitcoin is skyrocketing so I feel like that is taking away a lot of potential interest in altcoins.  People are simply keeping their Bitcoins.  But looking at historical prices of Bitbean it had been up to 40 Satoshis not too long ago.  Now its at about 18 Satoshis.  That could be a big money maker if it goes back to 40 Sat thats a profit of 122%.  Although Bitbeans are valued in Bitcoins so the fiat value is probably pretty similar to the fiat value when the price was up at 40 satoshis because bitcoin was only like $230.  I don't know I'd have to do all the calculations, but all in all seems like a good time to buy a couple hundred thousand. 

Unless you do your homework and read back through this thread and multiple other forums. Then you find that bitbeans were at 40 sats based on expected releases that bitbeaner promised, and then failed to deliver on. He lied to people, and as a result many of those (myself included) lost faith in his word and are extremely hesitant to get burned more. Those who bought in at 40 sats and held are now sitting on half their investment and there still isn't any meat on the bones as far as actual reasons the value would go up.

There are currently 1 billion bitbeans out there, that's a lot fo beans to dump on the market and drop value to less than the current 20 sats. There are also a total of 40 billion bitbeans ever to be distributed through exclusively POS methods, which means the richest will continue to get richer and have a head start over anyone buying in.

I guess it might be a good time to buy in from the perspective that: If you buy in now and bitbeans go down to 1 sat, you can only lose a maximum of 20 sats per bean as opposed to 40 from someone who invested 2 months ago.

Team Bean started out strong and had decent tech, good roadmaps and delivered as promise dbut over the last 4 months constant disappointment has been driving value to shrink constantly. Poor marketing decisions, a failure to show proper business sense, and an attitude of "I will respond only to positive encouragement and not address legitimate issues if they aren't coated in blind praise" doesn't point to a currency that will be increasing in value or leading the mass adoption of crypto anytime soon.

There may be profit to be made on slight fluctuations with bitbeans, but there is very little pointing to long-term growth at the moment and the management shows a complete lack of business sense.

Buying is up to each and everyone, but take the time to read through the last few months and get a bigger picture of the issues that bitbean will have to overcome, bitcoin price increasing definitely dilutes the overall value of alts, but in the case of bitbean that isn't the only reason the price has dropped.

Inform yourself, do research and invest your hard earned funds in places where the management and tech show potential to grow your investment. Look for management that isn't afraid to address naysayers in a mature and responsible manner and fight with facts.

Thanks for the advice.  The thing I like about Bitbean is the high interest rate and the short amount of time needed to stake.  Its very unique in the sense that you can start staking in literally hours.  Maybe the only other coin like it is Mastertradercoin which has had little volume so its really not a very liquid coin.  Other high yielding stake coins such as Hyperstake take 7 days to stake, TEKcoin takes like 30 days, Sprouts I think takes like 4 days.  But Bitbean you can literally stake in mere hours and the interest rate is about 100% per year which is pretty high, I figured it out with statistics from coinwallet.co, I usually use coinwallet.co to stake with small amounts of coins although the withdrawal fees kind of suck.  Anyway I guess thats why I'm drawn to Bitbean, I have little patience and so the short staking maturity really attracts me to this coin.  I totally see what you mean though and I see the price has been going down steadily, although the Bitcoin price that its pegged to has skyrocketed so the fiat price may be pretty stable, would have to do the calculations to confirm though.... I have invested about $50 into Bitbean in the past and I lost a decent amount even with the high staking interest rate, but now that the price is a little cheaper I was seeing the public's opinion about the coin to see if it is a good time to get back into it.  The wallet kind of disappointed me, since it lacks a simple easy to use coin control feature.  Also a wallet really should not affect the price much, as it is simply a wallet.  Anyway I use coinwallet.co anyways so that really doesn't matter all that much.  I guess maybe just holding on to Bitcoin is probably the best bet.  Do you know of any high yielding short maturity staking coins besides the ones I mentioned?

[Brob12321]

Wow the 24 hour low on Cryptsy is 11 Satoshis, this coin hasn't been that cheap in a looooong time(april 2015). 

[inyereye]

Thanks for the advice.  The thing I like about Bitbean is the high interest rate and the short amount of time needed to stake.  Its very unique in the sense that you can start staking in literally hours.  Maybe the only other coin like it is Mastertradercoin which has had little volume so its really not a very liquid coin.  Other high yielding stake coins such as Hyperstake take 7 days to stake, TEKcoin takes like 30 days, Sprouts I think takes like 4 days.  But Bitbean you can literally stake in mere hours and the interest rate is about 100% per year which is pretty high, I figured it out with statistics from coinwallet.co, I usually use coinwallet.co to stake with small amounts of coins although the withdrawal fees kind of suck.  Anyway I guess thats why I'm drawn to Bitbean, I have little patience and so the short staking maturity really attracts me to this coin.  I totally see what you mean though and I see the price has been going down steadily, although the Bitcoin price that its pegged to has skyrocketed so the fiat price may be pretty stable, would have to do the calculations to confirm though.... I have invested about $50 into Bitbean in the past and I lost a decent amount even with the high staking interest rate, but now that the price is a little cheaper I was seeing the public's opinion about the coin to see if it is a good time to get back into it.  The wallet kind of disappointed me, since it lacks a simple easy to use coin control feature.  Also a wallet really should not affect the price much, as it is simply a wallet.  Anyway I use coinwallet.co anyways so that really doesn't matter all that much.  I guess maybe just holding on to Bitcoin is probably the best bet.  Do you know of any high yielding short maturity staking coins besides the ones I mentioned?

Hey, I get it, the staking potential combined with 20mb blocks and the concept of a "community coin" are what drew me to the bean months ago. It took a lot for me to become as jaded as I currently am but Bitbeaner never seems to fail to deliver on disappointment unfortunately. I'd love to say the staking would make this a solid long term investment alone, but the price under bad management will much sooner fall to 0 sats, the only place you can spend bitbeans is on exchanges and there is no reason to buy them unless you are staking. I use coinwallet myself for my current holdings as I've stated before, it gives me an opportunity to stake at a higher level without buying more. It is tempting to buy more at this price, but I see no real tangible progress from the management so am just going to sit on what I have.

I don't wish to discuss other coins in this thread, I still see potential for bitbean but will send you a PM, there is one that you missed that may be worth looking into.

[TeamBean]

Official Forum:  http://www.bitbean.org/forum/1-million-bitbean-give-a-way-contest

ß80,000 Given Away Already!

[nara1892]

Official Forum:  http://www.bitbean.org/forum/1-million-bitbean-give-a-way-contest

ß80,000 Given Away Already!

Thanks for 5k BITB
4197ccf1d59ddafdd71d8e824051a3c275ba560c5082a0e75a54e2136acd98c8

[4x13]

Does anyone ever check for spelling mistakes before you most crap around here... come on guys!!! inlude.... wtf is that??