Topic: [ANN][LIBERTYCOIN][XLB] v1.0.3.0 | X11 | 100% POS | No IPO | No Premine | - page 29. (Read 359881 times)

New Exchange
https://www.kingcoiny.com/

Please don't give up!  Fight for change!

You have a right to be outraged.

Liberty is for All

Yes, including shit coins that have almost no value.  I know. I'm a bagholder of many of these coins.  Giving up BTC speculating.

I'm not saying anyone is scamming, just a quick breakdown of where the coins are based on the published Rich List.

The Libertycoin Rich List (I wonder why it's called that) only accounts for 5.771 million coins

There are roughly 800k coins missing from it which is weird.  I wonder where they are?

The top 5 wallets combined hold 34% of all coins (of 6.5 million coins)

The top 10 wallets combined hold 58% of all coins (of 6.5 million coins)

The top 15 wallets combined hold 77% of all coins (of 6.5 million coins)

Taking a sensible lower limit of 1000 coins, there are 501 wallets with 1000 or more.

This means roughly 23% of all coins are held in 486 wallets, at an average of around 0.45% each (of 6.5 million coins)

The average is a little misleading ... there are 30 wallets with over 100k after the top 15.

This is freely available information

http://xlb.blockexplorer.cc/richlist/index.php?min=0

I suspect a similar pattern is repeated for nearly all the other coins.

When such a concentration of "wealth" is held in so few hands, a (wo)man is no longer in control of his/her own destiny - (s)he is at the mercy of the rich, subject to their whims and control, which is no different to the current banking situation we are all trying to get away from.

Why do you people buy coins like this? You think you're betting on the next bitcoin? Seriously, get real.

It's going to take weeks to get all the larger hands to unload.  If this drops to 1k I would expect a jump in price again like what we saw last week.

I suggest not having any expectations....
A coin has only one chance

That's about 7% of all Libertycoin in circulation.

Either from a single buyer or from 2 or more people all wanting to buy at the same price.

The concentration of coins into fewer and fewer hands looks like it is continuing.

And yet the top wallet of around 725k yesterday is down to 500k today.

The top wallet has dumped 30% or more of their holding.

Hmmm

The wealth is only a perceived wealth, seperate from it's value.

Diamonds, outside of industry, have no practical value whatsoever, yet they remain deisrable because they have perceived rarity.

The strict control of how many diamonds are released onto the open market maintains the perception of rarity and value.  

Only about 1% of all the jewelry diamonds mined make it to the public.  The price is maintained by deliberately limitting the supply.

Ultimately, they are worthless - but people still see value in them because they are shiney.

https://mises.org/Econsense/ch91.asp

The concentration of wealth with altcoins is the same as they are fundamentally useless, but their perceived value is based on limitting the supply to control market value.

It is not how much a particular coin is worth, it is how they are distributed and who controls the movement of flow.

Any coin where large proportions are held in very few hands means that the owners of those coins can control supply and try to increase demand, thereby increasing prices and perceived value.  This is a cartel, no different to diamonds or the privately run banks.

It doesn't matter if a coin is worth 1 cent or 100 dollars - it's just managed perception.  

If, for example, 60% of all coins or more are held in 10 accounts or less, you have a cartel-type structure, not the free movement of money.   The concentration of a given resource is in the hands of a small number of people.

Satoshi, in creating a methodology for everyone, wanted to do away with cartels and strict control of supply.

That no longer exists in cryptos.  They are being run, knowingly or unknowingly, by cartels - and investors are at their mercy.

It's our money they are taking.  And they laugh all the way to the next coin.

Don't blame the coins, blame the mechanism they are all built on and the persuit of greed over fairness.

Someone place order in mintpal to buy 451842.33749033 at a price 0.00002910 = total 13.14861202 BTC      

  is there any good news about the price

This concentration of wealth on a coin is nonsense. What is the difference between Liberty and Bitcoin and other alts that are dead now?  I am one of the bagholder of alts that are 5 million in circulation and less than 1 litoshi in value. Now can you call that concentration of wealth.  The value of the coin is in its usefulness, liquidity and community.  If more people will use it, it will become more valuable.  I can hardly imagine now, why Bitcoin have that immense value when it burns a lot of electricity to maintain its network and have 10 minute confirmation when proof of stake coins (POS) like Liberty can do 30 second transaction and without the need of mining.  If you want to create value on this coin, build communities and businesses around it so it become useful.  So people will demand the coin thereby justifying its value.

To all those who are calling for change:
Libertycoin was doing great until people began to call for change. Bashing the developer and by default expressing that the coin is not good enough. You people are either ill intentioned or complete idiots. You say you want libertycoin to succeed while you kill it. I find it hard to believe you are that stupid, but maybe you are. I'm betting you have ill intentions.
So stop one of two things: acting ridiculously ignorant, or acting with bad intent

Why are you trying to make us go away?  Arent you interested in the betterment of Libertycoin?

If that isnt your goal, why are you here?

Bump

You guys see that they are trying to antagonize you into responding to them and you guys are taking the bait, right? Just don't respond to them and they will go away again.

This is what a pump and dump advocate would say.  I want to have innovation that brings liberty to the moon.

You can also create your own coin if you dont feel like trying to improve this one.

Yes, that is what it will become - just a name.

If all people want is a fancy name, ok, job done.

Just another crypto, no innovation, no real desirability, no real value, no uptake outside of the exchanges.

However, the devs think bigger than this and so do most of the community.

 

No, its just the name of a coin...get it?

Hehe, we're back to the "one with the biggest hammer wins" again, using it to destroy rather than create!

This isn't Liberty.