Topic: Bitmark - page 146. (Read 622228 times)

I think too much emphasis has been put on linking the price of Bitmark to it being listed on an exchange. The price really doesn't matter this early. It will reflect how people value the coin. So lets make Bitmark have true value and the price on any exchange will reflect that.

The point i was making earlier about exchanges, is that they are a necessary component of a healthy crypto community. People need the ability to move in and out of bitmark with ease. Also, exchanges provide a lot of exposure for a coin. Bitmark is still very young and most people don't have a clue what it is. Seeing it on an exchange they trade at on a regular basis will pique the interest of a lot of people.

I missed the sarcasm. I actually thought it was a good question. With 1000+ altcoins trying to go "to tha mooon" on launch day, I like the community stance to follow Satoshi's lead on the development of Bitmark. And while I wasn't around in 2009, I'm pretty sure the answer to your question is not 3 days.

In the long run it's not going to matter whether some exchange lists Bitmark or not. Coinsolidation is committed to developing Bitmark long term at this point so it shouldn't have any effect on what happens over the next year at least.

I'm pretty ambivalent about the whole exchange situation. On one hand we want to stick to the general mantra of 'no hype, let the project speak for itself' and let things happen naturally. On the other hand I can sympathise with people who want to offset some of their mining costs.

The important thing to to keep in mind is that we're all thinking long term here. So whatever happens now in the short term really should have any lasting effect on Bitmark.

Until this exchange situation is settled, I will be pulling my supporting hashing power. I do hope that this situation is addressed for the last time and I may return to supporting this project in earnest.

Jay

In the beginning of the crypto currency world, there existed not exchanges as we see them today.  To quote from Andreas Antonopoulos among the best way to exchange is meetups.  And I do agree in earnest.   

The unfortunate thing about exchanges as we see them currently is that 99 percent of the motivation in using them is purely speculation for the means of capturing their fiat price value in return.  While speculation is not a problem in of itself, for a so called or would be currency , speculation is a significant problem and tends to give a false expression of the "value" as a currency. Hence the "price" instability that we see at large in the whole of the cryptocurrency space. I use the term currency loosely here, for they are not currency as of yet.  Merely speculation tokens. 

I would agree to have BTM on an exchange earlier(under 2 years after genius block) if it was the case that lets say, I was going on vacation, say to Greece, and a large section of the city in which I visited has embraced BTM as a medium of exchange and/or unit of account.  Let us suppose that the community in which this were true, merchants wisely gave a purchasing discount for using BTM over local standard fiat currency of their lands.  Then an exchange(in this example) may have a very important function in relation to the facilitation of the "conversion" of local currency in the sought after currency which would be BTM.  In this example of course the exchange would not have been used as a price speculation platform, on the contrary.

I will stand behind my position against BTM, being place on an exchange at this time.  The temptation to resist the emotional aspect of currency speculation will overshadow any early attempts to earn value by using exchanges as a mean to this end, even in the attempt to limit this by using so called small exchanges would be detrimental for the very same reason given previously.

There are and most likly will always be many more unsophisticated emotionally driven people using exchanges that do not understand or even know the difference between value and price.  Value and price are not always reflected in harmony.   

It is my most sincere effort in seeing that this projects early initiative of becoming a daily use currency be adhere to.  I hope that my previous analysis statements against early adoption usage of exchanges give credence to this fact.

Jay

There will always be trolls and FUD. Nothing you can do about that. Arguing with them doesn't help that much, but we can always point them to the 5 different threads coinsolidation had plastered all around Bitcointalk in relation to this project.

+10!

EDIT: cryptozim - I think that there may have been a hint of kind sarcasm in my question!

The only way to fix a price is to set up a buy wall. But, the higher the trade volume, the more BTC it takes to maintain that wall.

I agree with you. I was just stating my situation. Maybe we shouldn't talk about an exchange atm. Only time will tell the true value of Bitmark.

My sentiments entirely


Makes a sad but all too accurate a point - the trollarians will come and the FUD

I'm certain that the community will rise above them...


In my ignorance, how does the price get 'fixed'? I think your edit says it all iaminitnow06 - the way forward imho

Seriously. We talked for weeks about letting things grow organically, and not push to get on an exchange prematurely. Now, we're three days in, suddenly people have BTM in their wallet, and they immediately want to sell it. Sell it for what? I don't know. BTM doesn't have any value right now. Literally none, because right now it's just a three-day old coin with no merchants or special features.

I say the dev should leave exchanges to the community. Instead of working on working on maximizing short-term dumper profits, he should be working on the coin. If the community wants the coin on an exchange, we would be responsible for that part. Petition/vote/whatever to get BTM on an exchange. That's the only way to prove that a coin has real value anyway: A mass of people wanting to buy/sell it.

Premature exchange listing is how we get shitcoins with 20sat value, and .023BTC volume. Is that the coin we want to be?

You can't just fix a price, bittrex, polo and cryptsy like all other exchanges are free markets and it will sell for whatever people want to pay for them.  Not only is it impossible to force people to buy for a certain price but I think that is one of the main things coinsolidation is trying to achieve, in that Bitmark started off valueless and is earning its valuation through continued development

Ah I forgot polo too Yes voting is comparatively easy and just requires a trading history.

doh! missed the launch.

got some blizzards pointed at the pool. coin has a lot of promise

I use Poloniex and I find it to be pretty good.

But they have people with accounts vote on which coins they wish to see. So it might take a while to get to the top of the list. It's a non-bitcoin voting system though. You don't have to send any money, you just vote for which coins you like.

Bittrex and Cryptsy are up to the standard in my experience. Maybe we can fix a price for bitmark at the start, because anything less than 150k sats as of now will hit mining costs as I am currently mining it at a rate very slightly lower than this. I am sure other miners would agree with me about the cost.
EDIT: I also like the idea of postponing the exhange idea, maybe when the difficulty is a bit high, so that we don't get the dumping situation. But again we could let the market decide the price. In the end I want to hold Bitmark longterm and support the project.

I agree, it is fair and inclusive. We do not want to become a closed community supporting each other, it is more productive, beneficial and enjoyable to speak with others about Bitmark and see what they think.

Let us agree that exchanges are needed, our value will be earned and any price tag will reflect that. Our focus is on earning value and considering our steps.

We should work out which exchanges are the most beneficial to us, before we are added to one without our knowledge.

We do not want to see "exchange hacked, bitmark was the target", so somebody secure is needed, perhaps who has been hacked previously and been through the process of making things secure.
It must also be an exchange that gives currencies a fair chance, but one that recognises when they haven't worked out and prune their list of supported currencies regularly.
Which are the fairest or most reasonable?

These questions are worth considering as we will face them soon whatever we do.

As Este Nuno suggests we could do spreadsheet trading at any time.

I do not feel anybody really wants to sell their BTM, but that some feel they need to sell a portion from time to time in order to keep supporting the project and creating more.

Unsavoury people will come to this thread, some will be reasonable and just concerned, Chronikka started out this way and now is offering valuable help. As a community we can keep things in line.

I do agree with what everyone is saying, however the reality is the launch was very discreet compared to other coins.  Fudders and trolls will use whatever leverage they can find to bring a coin down.

I'm sure we have all seen good coins destroyed by fudders and trolls, and I dont want to see that happen to BM.

I guess what i'm really trying to say is the trolls and fudders will flock to this threat once BM gains attention, and we need to be ready for whatever they throw at us.

how long did it take for bitcoin to make an exchange ?

we are three days into mining. no problem.

long term covering of machine costs is the issue at stake from my perspective, not short term profit.

am working one machine in bitmark as the other machines that are running multipool are keeping the energy cost covered. ideally mining bitmark with all machines, but not yet feasible. this will come in time as the coin develops or other options are explored, similar as discussed in the IPM document

 

We could do spreadsheet trading first if people really want to buy and sell their BTM.