Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1243. (Read 2510302 times)

Pump announced

https://twitter.com/MineCrypto/status/448925329521123328

Pump announced

https://twitter.com/MineCrypto/status/448925329521123328

Not interested in giving some accelerated crypto courses? I really need to learn some basics n stuff

hi new to this coin , heard lots of hype. How can i mine bc?

It seems like you made the wrong move earlier today but you corrected it afterwards with a very good move  

Anyway, only time will tell. These things will happen again and again and again ...

Apart from the odd stash sell off no one is selling their coins in substantial chunks - we are going up from here I think. Despite my anger towards the market manipulator earlier I managed to make 5000 BC of it so I guess we both won in the end haha

Blackcoin is still hundreds of millions if not billions off the market cap required to make this worth while. But it also reminds me how early a stage all crypto is in.

I trade forex as well

When markets were controlled by a relative few who had almost all the hard currency -- e.g. in the 1890s -- large-scale capital investment was impossible for up-and-comers. Thus Ma Bell, Standard Oil et al. couldn't be challenged by people with better ideas. The end result was a loss of efficiency in the system as a whole, until the government broke them up.

The loaf-of-bread issue is that economic output is not linear. Really, over time you get more and more output; more grain can be grown from one acre of land. Chicken costs 1/6th what it did at the start of the 20th century in real terms. Things get cheaper as we (as an industrial society) get better at producing them. And so it would make no sense if one chicken were permanently worth 0.1 oz of gold. You need to not just subdivide the gold further -- you need to create more gold, or more paper, or else people will not continue to make a growing number of chickens.

[ed] the above being the best explanation I can come up with after 6 beers, for how printing more paper or creating interest in a virtual currency is not necessarily inflation, but may just be keeping up with the rate of economic growth.

You need to not just subdivide the gold further -- you need to create more gold, or more paper, or else people will not continue to make a growing number of chickens.

Please explain carry trade arbitrage.

My thinking on this was sort of loose. But anyone mining other alts and buying BC with it, is effectively borrowing BC to turn around and invest temporarily in things that may have a higher rate of return (assuming their prices are stable enough). We aren't at a point yet where I loan you BC and you go put it in MintCoin and take the difference in interest...at this point BC is still a raider. But if it's becoming the home base for those kinds of excursions, it's kind of like the Yen.

I know. I probably shouldn't have said it in this forum, because someone else will do it and become insanely wealthy from it. Hopefully they won't do it stupidly and ruin the idea (anyone who wants to do this should email me first, and build some sims ...has anyone ever built a sim before launching one of these coins??? I do it before launching every new card game or slot machine). For the time being though, BC is as good as it gets from a fundamental perspective; and even if such a coin appeared tomorrow, BC would be a great alternative/carry instrument for it, so they would be complimentary.

By the way, as we speak about cabbages & kings, BC is slowly but steadily gaining ground in MintPal.

P.S. Just joking about "cabbages & kings". Of course we should also discuss other things than the price.


 

[ed] and it's worth mentioning that multi-pool mining for other coins is basically a kind of carry trade arbitrage that's already being carried out in BC.

Thank you.

The thing is, that doesn't really solve the problem. It solves the problem of how to denominate it, but it doesn't solve the problem of hoarding. Because as long as you're reducing to smaller decimal places to buy a loaf of bread, for instance, the value of your Bitcoin is worth more and more loaves of bread. As long as value increases per unit of Bitcoin, you have deflation and no one will actually spend the currency. When no one spends it, the economy collapses because merchants like me can't stay in business.

As a little side note, I learned something really interesting about economics by opening the first Bitcoin casino... I learned that people gamble when the currency loses value (or in other words, inflates). It may seem obvious, but it wasn't obvious to me at the beginning. I used to be terrified that Bitcoin would go down because our holdings would lose value. But I realized pretty soon that that's exactly when people gamble their coins.


I completely agree with this, and I think that's why BlackCoin is a solid bet to be a complementary store of value to BTC/LTC. I do wish that the interest rate could be tweaked, but to this point no one has set up a coin that tweaks interest rates based on market dynamics (although BC bonds could certainly be issued down the road that would fill that gap). So given where we are now, I think the distribution and the fixed interest rate are as close-to-right as you can ask for.

I don't think you should say '1% fixed inflation' though, because 'inflation' is a measure of the currency's loss in buying power not a measure of how much money supply there is alone. BTC will become deflationary long before it's done being mined... as it is right now, BC is deflationary because it's rising in value faster than it pays interest; therefore most people won't loan it or spend it.