So I've mined some SBC. However, since some miners will sell, in order for the price to hold or rise, some have to BUY it. In order to get people to buy, it needs to have VALUE. So, where is the value? SBC isn't novel, like BTC was--there are dozens of coins now. You can't spend it anywhere, unless you want an overpriced sex toy. Launching a coin today requires a lot more than changing the name and the "magic number".
Todays price is 3050 satoshis. The blockchain height is 42975, meaning there are 1074375 mined SBC (not counting the 1.25M pre-mined). Thus the total market cap of SBC is 32.7684375 BTC. About $3500 US.
Given all the alternatives, I see no advantages to SBC, whether as a purchasing method, a store of value or as a novelty. I think it has failed already. Anyone who has a different take, please jump in and tell me why I'm wrong.
Topic: [ANN][SBC] StableCoin ¦¦ A new breed of cryptocurrency ¦¦ v1.2 RELEASED - page 6. (Read 102735 times)
June 27, 2013, 11:44:43 AM
June 27, 2013, 08:48:17 AM
I was interested until i read about the 0.5% premine, it doesn't seem much, but it is.
You can't make up silly services to cover up for your get-rich-quick scheme. The anonymity for bitcoin (and the like) will not be achieved by centralized services like you claim to want to provide, but rather on protocol level or by a layer built on top of it. From a legal perspective this ain't gonna work either, you'll be forced by regulation to keep track of every coin going in and out of your service and you'll be required to have people verify their identity. Not from the start, but if it ever gains traction, this will happen.
Even if you were honestly going to provide this service, you still singlehandedly possess a huge portion of all coins, and you can call yourself rich soon enough if people are dumb enough to buy into this, which a lot probably are. As we have seen many times already with many other coins and scams.
You can't make up silly services to cover up for your get-rich-quick scheme. The anonymity for bitcoin (and the like) will not be achieved by centralized services like you claim to want to provide, but rather on protocol level or by a layer built on top of it. From a legal perspective this ain't gonna work either, you'll be forced by regulation to keep track of every coin going in and out of your service and you'll be required to have people verify their identity. Not from the start, but if it ever gains traction, this will happen.
Even if you were honestly going to provide this service, you still singlehandedly possess a huge portion of all coins, and you can call yourself rich soon enough if people are dumb enough to buy into this, which a lot probably are. As we have seen many times already with many other coins and scams.
I get what you are saying, however, you are going on the presumption that Artos IS scamming everyone. If he is, then I am sure he made 40-50 BTC off of his endeavors...but if he isn't, then everything you have said is borderline libel. "you can call yourself rich soon enough if people are dumb enough to buy into this"
June 26, 2013, 11:49:56 PM
I was interested until i read about the 0.5% premine, it doesn't seem much, but it is.
You can't make up silly services to cover up for your get-rich-quick scheme. The anonymity for bitcoin (and the like) will not be achieved by centralized services like you claim to want to provide, but rather on protocol level or by a layer built on top of it. From a legal perspective this ain't gonna work either, you'll be forced by regulation to keep track of every coin going in and out of your service and you'll be required to have people verify their identity. Not from the start, but if it ever gains traction, this will happen.
Even if you were honestly going to provide this service, you still singlehandedly possess a huge portion of all coins, and you can call yourself rich soon enough if people are dumb enough to buy into this, which a lot probably are. As we have seen many times already with many other coins and scams.
You can't make up silly services to cover up for your get-rich-quick scheme. The anonymity for bitcoin (and the like) will not be achieved by centralized services like you claim to want to provide, but rather on protocol level or by a layer built on top of it. From a legal perspective this ain't gonna work either, you'll be forced by regulation to keep track of every coin going in and out of your service and you'll be required to have people verify their identity. Not from the start, but if it ever gains traction, this will happen.
Even if you were honestly going to provide this service, you still singlehandedly possess a huge portion of all coins, and you can call yourself rich soon enough if people are dumb enough to buy into this, which a lot probably are. As we have seen many times already with many other coins and scams.
June 26, 2013, 11:33:42 PM
I'd be happy if Artos just took a little time to provide an update on how his projects are going...
June 26, 2013, 08:47:29 PM
The 1 thing that concerns me. If I was a developer for a new coin, I would think I would devout some time each day (Especially during launch and when hitting the exchange), but I looked back, and don't notice a single post from Arthos since SBC hit an exchange. Even after there have been reports that someone is attempting to steal the 1.5 mil premined coins for the mixing service, he still hasn't said anything. I really hope it is because he is slaving away on his computer getting the Mixing service and Store set up. But still a really bad time to not be posting anything.
Edit: Opps I managed to find a post of his, but still not enough to give the people hope of the future of his coin.
Edit: Opps I managed to find a post of his, but still not enough to give the people hope of the future of his coin.
+1
This coin needs some enthusiasm and I don't see it arising by itself. Price is dropping. Hashrate is not great.
The hashrate jumps anytime it is listed among the top 3 on coinchoose. It doesn't stay long as the difficulty to price never changes...the difficulty goes up...the price stays the same. That HOPEFULLY will change if Artos gets the store going.
June 26, 2013, 02:01:36 PM
The 1 thing that concerns me. If I was a developer for a new coin, I would think I would devout some time each day (Especially during launch and when hitting the exchange), but I looked back, and don't notice a single post from Arthos since SBC hit an exchange. Even after there have been reports that someone is attempting to steal the 1.5 mil premined coins for the mixing service, he still hasn't said anything. I really hope it is because he is slaving away on his computer getting the Mixing service and Store set up. But still a really bad time to not be posting anything.
Edit: Opps I managed to find a post of his, but still not enough to give the people hope of the future of his coin.
Edit: Opps I managed to find a post of his, but still not enough to give the people hope of the future of his coin.
+1
This coin needs some enthusiasm and I don't see it arising by itself. Price is dropping. Hashrate is not great.
June 26, 2013, 01:53:59 PM
The 1 thing that concerns me. If I was a developer for a new coin, I would think I would devout some time each day (Especially during launch and when hitting the exchange), but I looked back, and don't notice a single post from Arthos since SBC hit an exchange. Even after there have been reports that someone is attempting to steal the 1.5 mil premined coins for the mixing service, he still hasn't said anything. I really hope it is because he is slaving away on his computer getting the Mixing service and Store set up. But still a really bad time to not be posting anything.
Edit: Opps I managed to find a post of his, but still not enough to give the people hope of the future of his coin.
Edit: Opps I managed to find a post of his, but still not enough to give the people hope of the future of his coin.
June 26, 2013, 09:27:44 AM
if your pre-mining a decent chunk, for the purposes of a mixing service, don't you build that first, or already have it built at launch?
Actually "pre-mining" was done with the genesis block...so how would you have it ready "at launch"? Not meaning to be picky but actually think before you type.
Coding a store and coding for a mixing service takes time and money. Who knows how much funding the dev had before he launched. I am sure some of the coins that were sold on the first day of Cryptsy were the dev's to assist in the funding for coding. I am fine with that.
Just because you don't have the coins already in a wallet doesn't mean you can't code 99.9% of the mixing service, and then have it ready to go as soon as you are done mining the genesis block, or shortly after. So yes, please actually think before you type.
June 26, 2013, 08:55:14 AM
back on top on coinchoose
June 26, 2013, 08:28:26 AM
I am sure some of the coins that were sold on the first day of Cryptsy were the dev's to assist in the funding for coding. I am fine with that.
Dev hasn't sold any of those premined coins.
http://sbc.isa-geek.com/address/7eeYSqy8JGp6GbnSChLUsfSeDUdBmYHPxCJ1s
June 26, 2013, 08:08:17 AM
if your pre-mining a decent chunk, for the purposes of a mixing service, don't you build that first, or already have it built at launch?
Actually "pre-mining" was done with the genesis block...so how would you have it ready "at launch"? Not meaning to be picky but actually think before you type.
Coding a store and coding for a mixing service takes time and money. Who knows how much funding the dev had before he launched. I am sure some of the coins that were sold on the first day of Cryptsy were the dev's to assist in the funding for coding. I am fine with that.
June 25, 2013, 03:48:00 PM
A person would think when you released a coin, you would do alot of the back-up work to get it up and going right away, but if you watch all the coins being released lately, while some are fair launches, most of them haven't done much work aside from copying the Open source code and making a few changes and then waiting weeks/months for the coin to take off, and then start building things for it. This is one of the reasons I switched to Bottlecaps at the current time. That currency has only been alive for 1-2 days, and on the first day they had a facebook page, raffle sites, fountains, gambling sites, and even a store or 2 accepting it right off the bat. It also hit Cryptsy within a day of being launched, and was/is trading 30X higher than SBC is.
I hope SBC can surprise us with an announcement of the store and mixing service and everything else going live soon. And I really hope the store is larger than a Steam code store.
I hope SBC can surprise us with an announcement of the store and mixing service and everything else going live soon. And I really hope the store is larger than a Steam code store.
June 25, 2013, 03:07:58 PM
if your pre-mining a decent chunk, for the purposes of a mixing service, don't you build that first, or already have it built at launch?
June 25, 2013, 03:06:02 PM
Not that I know of yet. I think the dev is working on getting the store up first. Haven't heard from him in a while though.
June 25, 2013, 02:54:01 PM
having not read through the whole thread, is the mixing service up and running?
June 25, 2013, 02:50:24 PM
cryptsy goes down and coinchoose doesn't really have a whole lot left to pick from
June 25, 2013, 11:02:16 AM
are you using the updated client or an old version?
June 25, 2013, 09:50:59 AM
o_O Transaction is visible in block chain now... Almost an hour later than in my QT-client, anybody know why?
June 25, 2013, 09:20:08 AM
Huh, I tried to send my SBC on cryptsy and QT-client crashed while sending. I see transaction in my client but not in block explorer and there are 0 confirmations for ~30minutes. I guess that while I don't have wallet backup (shame on me 
) I lost those coins?
) I lost those coins?Code:
{
"account" : "",
"address" : "semQ3LQrmR8z5rpvgh4txBLipfptW37rHa",
"category" : "send",
"amount" : -748.47212273,
"fee" : -2.20000000,
"confirmations" : 0,
"txid" : "76ce31532799e865fe187dbdc760a83e61037735a755ddf040d7b68b2627a85d",
"time" : 1372164889,
"comment" : "",
"from" : "",
"message" : "",
"to" : ""
}
"account" : "",
"address" : "semQ3LQrmR8z5rpvgh4txBLipfptW37rHa",
"category" : "send",
"amount" : -748.47212273,
"fee" : -2.20000000,
"confirmations" : 0,
"txid" : "76ce31532799e865fe187dbdc760a83e61037735a755ddf040d7b68b2627a85d",
"time" : 1372164889,
"comment" : "",
"from" : "",
"message" : "",
"to" : ""
}
June 24, 2013, 06:36:26 PM
Anyway, it seems ok now. I'm gonna carry on mining, hopefully it'll survive 
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