Topic: ★★ ▀▄▀▄▀ BITBAR on BTER now LIVE ▀▄▀▄▀ ★★ - page 3. (Read 8997 times)

To people thinking that this is a competition and that one BTB can never cost more than one BTC:
How are you thinking? These are not physical bitbars. Just like you can't hold a bitcoin in your hand. They are just strings of numbers which we call what we want to. We could call 0.001 BTB a bitcake and say it's worth 0.1 BTC then you would agree because it's less than 1 BTC. Or we could call 1000 LTC a litebar and now suddenly it's worth more than 1 BTC. Doesn't it mean that it's overvalued then? Don't put too much thinking into how much 1 bitbar or 1 litecoin is and can be worth. Look at the marketcap of the coins and divide it by the future number of coins. Then try to make an educated guess of how much the marketcap can grow.
In my opinion, when you look at it that way BTB has a lot of room to grow. It really ticks me off when people are trying to bash coins but don't even know what they're talking about.

No it's not, someone just put up loads of micro buy transactions asking for 0.0001 BTB to make it appear like that was what the going rate was. There's still a massive variance between what the sellers want for it and what the real buyers are prepared to pay for it.

Its about 1:1 now.

How many bitbars will there be in total?  It's already trading at 0.8BTC 

How many bitbars will there be in total?  It's already trading at 0.8BTC 

What happened to the forum over the last few hours? Did all the children just get home from school? It's unbelievable how immature some of the posts in here are.

We should really be talking facts, not listening to trolls, so let's talk facts:

1. Bitbar is essentially based on one core idea, extreme rarity. Extreme rarity/extreme scarcity has intrinsic benefits in that it's resistant to pump and dump schemes, and thus it's price will remain relatively stable. This makes it an ideal store of wealth. This also makes it significantly unique.
2. Bitbar incorporates ideas from Novacoin, namely POS and POW in combination. It was an offshoot of the fairnova project, aimed at introducing a coin with the good ideas of novacoin, without the 200,000 pre-mined coins by the dev.
3. The network hashrate is very strong and continuing to grow.

Now, if we want to talk about a fair price, let's do a comparison:

• You've got 18,859,022 ppcoins as of today, at a price of 0.00254 BTC/PPC.
• You've got 6,513,850 feathercoins as of today, at a price of 0.00202 BTC/FTC.
• You've got 387,261 novacoins as of today, at a price of 0.0311 BTC/NVC.
• Compare that to 2,786 bitbars as of today, at a price of 0.69 BTC/BTB.

This makes the total value of all PPcoins 47,901BTC, the total value of all feathercoins around 13,222BTC, and the total value of all novacoins around 12,043BTC. Currently, if we go by the exchange rate on bter.com (which is in beta and not open to the public), you've got a total value of all bitbars around 1,860BTC.

To me, that seems seriously undervalued. Once bitbar on bter.com becomes public and is added to the menu for it's regular users, once bitbar is added to websites such as coinchoose, and hopefully if more real users start looking at bitbar, considering it's strengths and benefits, and ignoring the trolls, we might see this currency continue it's slow and steady march towards adoption.

That's the thing the childish trolls need to understand, this is a long term plan, a long term cryptocurrency, designed to stick around and remain at a stable fair price (whatever that becomes). The fundamentals are sound (design and network hash), and I can see it being accepted (eventually) as a real player.

Scarcity is valuable, because people think it is.

No.

Scarcity is not the only factor in value. I could by that logic create a coin where only 0.0000000000001 of a piece exists and it's worth $1 million dollars.

Scarcity is not the only factor in value. I could by that logic create a coin where only 0.0000000000001 of a piece exists and it's worth $1 million dollars.

No.

Scarcity is not the only factor in value. I could by that logic create a coin where only 0.0000000000001 of a piece exists and it's worth $1 million dollars.

You raise a good point, is a psychological thing. But to give an example:

   Say there are 5 bitcoins in existence, 10 litecoins, 50 feathercoins, and 100 namecoins.
   If the current real world economics are applied, and let's say bitcoin is valued at $100, then due to the availability of the other coins, litecoins are worth $50, feathercoins $10, and namecoins $5.
   That's how pricing currently works.
   Now if a new alt comes around; bitbar, and there's only 1 bitbar in existence, if we follow the pricing model, that bitbar is worth $500 dollars.

"But another alt can't be worth more than bitcoin?"
Of course it can, it's all about the economics of the coin, it's availability, circulation, supply, and future potential.

Personally, I think that bitbar has a future, it's an alt that's (so far) not been pumped, not been spruiked by shills, and has not been overhyped. It's just steadily chugged along in the background. That's what you want from an alt, steady, consistent growth with a long term future in mind.

PPC: 18859022 * 0.00254 = 47901BTC
FTC: 6513850 * 0.00202 = 13157BTC
NVC: 387261 * 0.0311 = 12043BTC

The contents of this tiny sample size clearly illustrate that comparing coins is a scholarly plan [/sarcasm]

I always have to just laugh at comparisons of coins. Coins don't compare, because they're all worthless! That said, I stocked up on bitbars because I think people are going to love the concept for about a month.

Now, if we want to talk about a fair price, let's do a comparison:

• You've got 18,859,022 ppcoins as of today, at a price of 0.00254 BTC/PPC.
• You've got 6,513,850 feathercoins as of today, at a price of 0.00202 BTC/FTC.
• You've got 387,261 novacoins as of today, at a price of 0.0311 BTC/NVC.
• Compare that to 2,786 bitbars as of today, at a price of 0.69 BTC/BTB.

This makes the total value of all PPcoins 47,901BTC, the total value of all feathercoins around 13,222BTC, and the total value of all novacoins around 12,043BTC. Currently, if we go by the exchange rate on bter.com (which is in beta and not open to the public), you've got a total value of all bitbars around 1,860BTC.