Food industry and cryptocurrency - page 3.

Digitalbitcoin

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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 think it make no sense to build coins for every farm/food. Because cryptocurrencies are backed by blockchain technology, which supports decentralized services.

First thing food is composting material so it has limitation in distribution globally. Also if such coins listed in crypto market who will decide price of such coins.

And most important thing is we can use blockchain technology as service to give better administration, governance and system. We cannot use it for trading of physical things bcz price matters. In such cases fiat currency always play important role.

vindicare

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I agree to other ideas to stick to one coin not making many coins according to the food name so it will not confuse other people and making it easy to memorize .

pinkpanther03

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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 will not going to work, I think most of the community or people might get confuse into it. Why not try to use one main coin and then give the main details of benefit so that people might get aware unto it.

CoinBreader

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Totally agree with these guys saying that we need a strong currency like foodcoin (personally i dont want a name like foodcoin, dont want the coin thing at the end , bells me alarms from the past mooncoin,titcoin, etc lol ) it must be one coin for all ! so no competition or pnd schemes from comptetitors , but what will happen if this goes trading & a whale join the scene ? the whale will own the farm prolly... dont know sounds complex , i prefer btc or the main crypto currency by then.. one for all

shinratensei_

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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.

jacktheking

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This is actually a neat prediction. However I really doubts that they will be releasing their own cryptocurrency because marketing a new altcoin takes time. And Bitcoin, I mean cryptocurrency is a new technology, big farming corporations may know how to use it. However their customers may not know how to use it.

It will be a better alternative for farmers or farming companies to start accepting a already polished crypto like Bitcoin or Litecoin.

awesome31312

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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.

Denker

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Quote from: Sundark on September 10, 2016, 02:18:59 AM

Releasing all kind of various altcoins instead of focusing on one main crypto will be a downfall of cryptocurrency. We need to have strong leading coin. Not dozens of weak ones.

We are already having all kind of various of altcoins.So that won't make any difference.
The market will decide if these "foodcoins" would be useful or not. In crypto we let the market decide.
Most of these new coins will disappear as quick as they came.So I wouldn't worry about that.

septian44

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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)

world food be part of farm cryptocurrency I think you exaggerate,in theory would allow them to become an authority in the network,With the increase of new miners, which means the level of difficulty is increasing, If passengers in large numbers leaving the network then the numbers will decrease difficulty.

ekoice

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I dont know whether farmers would release their own cryptocurrencies in future, but already there are large number of crypto currencies and if it increases, it would lead to a huge confusion and decline of crypto currencies.

Leonard2016

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i think this mostly sounds like a good idea rather than being really good and practical. if anybody wants to start a new altcoin with his business we will have millions of coins after a month and the value of a currency is defined based on supply and demand so what if there were no demand? what happens to that business.

noictib

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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)

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.

justdimin

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Not just food industry, every bank will have their own cryptocurrency. But what is the use of everyone is having their own "private" cryptocurrency. It may help them to transact with less transaction fees but not in reliable way.

The purpose and potential of bitcoin is totally different and no altcoin will be a threat for it.

amacar2

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It is true that demand of food will always remain high with increasing population and decreasing farm lands. However the coins if those farms release, than price of coin will depend upon the share value of those farms rather than keep on increasing with demands.

jhenfelipe

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Having different coins per transaction will lead to confusion. If I do need to buy a crab for example, what will I do if I don't have crab coin? The tendency is go through exhanges and trade any of my available coin into crab coin for me to buy a crab. Even just think of it is complicated. For me, it is still better to have one cryptocurrency that can be use in any transactions, more convenient, less hassle.

Jeremycoin

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I think those kinds of people will probably just using an existed cryptocurrency or even just use Bitcoin rather than make their own cryptocurrencies, because how do you know that people would be interested in those new farmers coins. Except if all the farmers in this world united and make a statement about they won't accept any other kind of payment method besides using their cryptocurrency.

X-ray

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that's definitely not a good thing to separate every coin and naming it with various title,it'll make so many people confused and will took so much effort for only exchanging currency so i guess it's not a good idea,it's better to unite and create a crpyocurrency for example,creating foodcoin or etc

Ardenyham

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what reference you have of your examples? are these your own imagination or these coins has been established?
I only heard Clam coins. but never heard that, that coin is belong to any kind of farm...
not only farms. and food industries every farm of life can make their crypto currencies now. even schools and colleges also make that. but thing is not about making a coin. thing is about running a coin and making it a successful coin which is not easy for everyone.

Quote from: Sundark on September 10, 2016, 02:18:59 AM

Releasing all kind of various altcoins instead of focusing on one main crypto will be a downfall of cryptocurrency. We need to have strong leading coin. Not dozens of weak ones.

Leading Crypto currency is obivously "Bitcoin" you should use bitcoin then.

Vinz24

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This will bring confusion to everyone that havent know the bitcoin yet. Everyone is right we need a few strong coin to continue on cryptocurrency so we can also advertise it more.

davis196

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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 guess you are kidding,but anyway the only thing that gives a currency any value is the human labor.

Food can`t be a value,foods is just a product.

And it`s better to have one strong cryptocurrency instead of 1000 weak cryptocurrencies.

Topic: Food industry and cryptocurrency - page 3. (Read 2914 times)