Food industry and cryptocurrency - page 2.

goinmerry

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Quote from: ijphlrnxewho on September 10, 2016, 02:14:13 AM

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.

Here's an example:

A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)

This way it will not be called mining anymore but instead farming. Grin

We they created a lot of names for their altcoins so this have a great possibility. How do you want your LBTcoin?

romero121

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This won't happen in a short or long as the digital currency acceptance is very low compared to other physical currency usage. So when entire universe accepts digital currency, it paves path for such advancement in the field of farms and other food industries.

shinratensei_

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Quote from: chennan on September 12, 2016, 02:20:27 PM

I really don't see how this is a topic even worthy of a real discussion. If you want people to mine the coins with electricity, do you need to pay the electricity company "electricity coins"? What about raw materials, such as lumber, to build your barns? "Lumber coins"? No... It just doesn't work. Money is supposed to be a bartering tool for all forms of good and services, and isn't supposed to be used as coupons or tokens for something you're buying directly (i.e. bringing tickets to a teller you earned by playing arcade games to buy a stuffed bear, etc.)

That's the complete answer, and I feel that if every person or merchant is owning their coin and if someone is wanna for buying more than 10 type of goods and he also needs for bring more than 10 type of coin too? that's a useless idea. because we just need simple things just using 1 type of payment can fill for buying all of the types of goods

Yakamoto

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Quote from: ijphlrnxewho on September 10, 2016, 02:14:13 AM

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.

Here's an example:

A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)

You really don't need anything like that to be completely honest, food and so has its value and if Bitcoin was to be the biggest form of currency transaction throughout the world it should just have a Bitcoin value pegged to it, e.i. 5 mBTC for a pound of fish. Not really worth adding more numbers to anything because they are just less beneficial as a whole and never really help anything.

You don't need 1000 items to do something a single thing can do easily.

yayayo

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From a economic perspective it makes no sense for companies to release an ever increasing number of altcoins that have no general market acceptance. The only reason may be advertising, however the coins will have no popularity if they are not directly exchangeable for Bitcoin.

In my opinion, for practical reasons companies will not act differently than private individuals and mainly use that cryptocurrency that has the greatest market acceptance: Bitcoin. Of course it will be great to see more companies from the primary sector to accept Bitcoin for their products. And in fact, Bitcoin can make transactions easier and grant access to a wider marketplace without additional cost. So I think there are motivating factors that will encourage Bitcoin acceptance by the primary economic sector irrespective of the coin branding.

ya.ya.yo!

chennan

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I really don't see how this is a topic even worthy of a real discussion. If you want people to mine the coins with electricity, do you need to pay the electricity company "electricity coins"? What about raw materials, such as lumber, to build your barns? "Lumber coins"? No... It just doesn't work. Money is supposed to be a bartering tool for all forms of good and services, and isn't supposed to be used as coupons or tokens for something you're buying directly (i.e. bringing tickets to a teller you earned by playing arcade games to buy a stuffed bear, etc.)

I mean look at how food stamp debit cards work... you don't see those things being more valuable than money, do you? If some poor person got a food stamp card (which can be used to buy something nutritious at the grocery store), but decided that they wanted cash in exchange for their food stamps in order to buy drugs, then you will see someone buy it off them for way under the price of the card.

beerlover

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I don't think this will work out at all.
Besides the funny names, there's just too much cryptocoins needed to be managed if we're going to be having a farm. You won't really be able to see completely just how much capital you have, knowing that every food coin have different values in real money. It's an extra effort to try to compute just exactly how much you have.

awesome31312

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Quote from: pakitz on September 12, 2016, 06:02:11 AM

indeed its very complicated.. other businesses nowadays wont even adapt to bitcoin and other alt coins.. and most of the farmers are not that techy in nature..

I already addressed this. I used to actually live about twenty minutes from the country side, I was really surprised that they started implementing Android tablets to receive orders. It's not uncommon, times are changing.

Harlot

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I don't think it will work or even will come across by farmers on making their own money. It will create a complication on the different kinds of money for example: you need a different currency just buy buying ingredients for your dinner time food, that would be several kinds of currency. And also would you think the government will approved this kind of system? In which farmers can hoard all the coins in order to increase its value? I don't think it would be right.

calkob

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i was at a meet up a while back where a guy was taking about linking crypto to pork exports to china, very interesting

Jaxelrell

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Quote from: noictib on September 10, 2016, 11:47:17 AM

Quote from: ijphlrnxewho on September 10, 2016, 02:14:13 AM

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.

Here's an example:

A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)

That means we have to mine 100+ coin to deal with various situation to but various items. It's definitely a not good idea to launch so many could, returned it would be best to have one coin for all that is bitcoin.

There are allot of difference between these two because i think that bitcoins are made for other things instead of buying food of it need to be used for other things for sure and i know for sure that not allot of people are buying food with coins.

iqlimasyadiqa

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good idea . but it will be very difficult to develop. we can not impose its will in determining each coin used.
This would make the limitations that might be a blunder to drop the coin. the realization of which may not be light.

pakitz

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indeed its very complicated.. other businesses nowadays wont even adapt to bitcoin and other alt coins.. and most of the farmers are not that techy in nature..

Rizky Aditya

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If the companies ever do start making their own cryptocurrencies, I doubt that anyone would actually buy them. Saying that, I doubt that the farming companies will even want to make their own altcoin. I think that Bitcoin should only be accompanied by altcoins that are actually going to succeed.

Fatanut

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I think OP's idea is not that far from reality. It's not that hard to make an altcoin based on how frequent a new altcoin occurs. I just don't think farmers would do such a thing because most of them and the people around them aren't into Internet things like Bitcoin. Maybe if a company like McDonald's, then the possibility is much higher. The altcoin will serve as a token to buy things.

It's a cool idea but I don't think they will fund this project. Not that much people knows about Bitcoin, let alone altcoins. And also, why do that much effort to get an altcoin just to buy your burger when you can pay directly using your fiat.

mixan

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I would love to be able to buy a Big Mac or a Whooper with bitcoin.
But I doubt we will see this occurring because McDonald's and Burger King are too big of a francaises to allow bitcoin to be accepted.
When it comes to farming sure. It is dire need of some capital to be put into it for it to continue to be profitable for the farmers to do this sort of work.

umhhppp

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Farming is the past and the future.
So it only makes sense that it evolve just like our currency has.

Kprawn

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People will not buy into Alt coins that can be pump n dumps and also be manipulated. The fiat system is not the only thing that can be

manipulated. The farmers can ask the developers to change parameters as they go, if this is not a public Blockchain. These farmers will be

better off using Bitcoin, because it has a already established network, and people using it. Wink

awesome31312

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Quote from: shinratensei_ on September 11, 2016, 12:54:08 AM

Quote from: awesome31312 on September 10, 2016, 03:07:55 PM

Quote from: LFC_Bitcoin on September 10, 2016, 04:43:19 AM

Can't see this taking off at all, sorry buddy. I'm pretty certain it wouldn't work. Why couldn't they just continue to use fiat or even bitcoin. People who farm or catch lobster make a lot of money they won't need to stray too far from what they do now which works any way.

You would be surprised at how the availability of computers is going up exponentially. Farms will not only implement Bitcoin, but I'm pretty sure that independent markets which are threatened by the government (most of which are farms and ranches) will make a killing selling things like raw milk and rain water on hidden marketplaces.

I don't think so because a lot of farm and ranches is still assisted by the government, and maybe very complicated for selling their results into hidden market and too many time will just wasted for doing that if the people in their environment is still need their results.

They're not "assisted" by the government. They are forced into government intervention. Some of them do contest it, with severe consequences. Just look at the Bundy Ranch as an example.

It will happen eventually, but before that, the hidden markets will need to go mainstream, and we must come to realize that government does not exist.

ethereumhunter

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Quote from: ijphlrnxewho on September 10, 2016, 02:14:13 AM

In the near future, you will see many farm companies releasing their own cryptocurrency
Those smart farmers will eventually come to a realization that the only real form of money is the food they put in their mouth.
Because of that reason, the value of their farm cryptocurrency will only go up. Other paper currencies will always be manipulated and beaten down by central banks' frauds.

Here's an example:

A lobster farm will release their own cryptocurrency called Lobster coin
A clam farm will release their own cryptocurrency call Clam coins
A crab farm will release their own cryptocurrency call Crab coins
A tuna farm will release their own cryptocurrency call Tuna coins

These farm coins will be back by real money value also known as food value.
(put money where their mouth is)

i don't think that the farm companies will be releaseing their own cryptocurrency because not many farm company that know bitcoin and they didn't know about bitcoin technology. if the farm company wants to release their own coins, they should think about many thinks, especially who will use this coins, what this coins benefit for people, how strong this coins will be survive in the market, and is this for short term or long term. beside that, many thing should be prepare.

i can't imagine if this coin is release in cryptocurrency. maybe this farm will get bigger but for sure is this farm companies need big budget to create and release their own coins.

Topic: Food industry and cryptocurrency - page 2. (Read 2912 times)