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.