Testnet bitcoin value? | Bitcointalksearch.org

shorena

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No I dont escrow anymore.

Quote from: vilain on December 22, 2015, 10:39:22 AM

Quote from: achow101 on December 22, 2015, 10:33:43 AM

Quote from: knightkon on December 22, 2015, 10:21:25 AM

I just ran across this thread and I have to verify, these coins are there for the purpose of testing newly designed sites? If so, why are there faucets which you can collect them and what is the point of collecting them? Thanks for answering the questions in advance.

The point of testnet is to test new software that uses bitcoin without actually using anything of value. It is also used for experimenting with the network. It prevents people from losing money while they are experimenting.

The point if faucets is to distribute testnet coins so that people can use them for testing. Generally people should and will return the testnet coins to the faucet so that others can use them too.

Can you paste some links to such faucets please?

-> https://en.bitcoin.it/wiki/Testnet#Faucets

Just let me know your address and I can send you some as well. What are you testing btw?

Bitcoinpro

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Quote from: knightkon on December 22, 2015, 10:21:25 AM

I just ran across this thread and I have to verify, these coins are there for the purpose of testing newly designed sites? If so, why are there faucets which you can collect them and what is the point of collecting them? Thanks for answering the questions in advance.

Because only the best things in life are free Cheesy

vilain

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Quote from: achow101 on December 22, 2015, 10:33:43 AM

Quote from: knightkon on December 22, 2015, 10:21:25 AM

I just ran across this thread and I have to verify, these coins are there for the purpose of testing newly designed sites? If so, why are there faucets which you can collect them and what is the point of collecting them? Thanks for answering the questions in advance.

The point of testnet is to test new software that uses bitcoin without actually using anything of value. It is also used for experimenting with the network. It prevents people from losing money while they are experimenting.

The point if faucets is to distribute testnet coins so that people can use them for testing. Generally people should and will return the testnet coins to the faucet so that others can use them too.

Can you paste some links to such faucets please?

achow101

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Just writing some code

Quote from: Slark on December 22, 2015, 10:31:54 AM

Testnet bitcoins never should have any value. How something so unstable can be even considered as legit asset?
Developers can create and destroy testnet bitcoin as they please, they are not mined therefore can't be viewed as viable cryptocurrency.

Testnet coins are mined. There are virtually the same as bitcoin except that the difficulty automatically adjusts to the minimum when it has been a set time (don't remember what) had passed without a block being found.

achow101

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Just writing some code

Quote from: knightkon on December 22, 2015, 10:21:25 AM

I just ran across this thread and I have to verify, these coins are there for the purpose of testing newly designed sites? If so, why are there faucets which you can collect them and what is the point of collecting them? Thanks for answering the questions in advance.

The point of testnet is to test new software that uses bitcoin without actually using anything of value. It is also used for experimenting with the network. It prevents people from losing money while they are experimenting.

The point if faucets is to distribute testnet coins so that people can use them for testing. Generally people should and will return the testnet coins to the faucet so that others can use them too.

Slark

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Testnet bitcoins never should have any value. How something so unstable can be even considered as legit asset?
Developers can create and destroy testnet bitcoin as they please, they are not mined therefore can't be viewed as viable cryptocurrency.

knightkon

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I just ran across this thread and I have to verify, these coins are there for the purpose of testing newly designed sites? If so, why are there faucets which you can collect them and what is the point of collecting them? Thanks for answering the questions in advance.

Bitcoinpro

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Quote from: Amph on November 19, 2015, 04:27:48 AM

Quote from: Bitcoinpro on November 19, 2015, 03:32:40 AM

Quote from: Lauda on November 19, 2015, 03:03:30 AM

No, why should it have any value?

would seem to hold more value than some of the alts

what alt? not certainly those in the first top 10-20, unless you're not talking about marketcap

it was a joke but funny and just a reminder to be careful

when chosing ur alt,

Bitcoinpro

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Quote from: unamis76 on November 19, 2015, 08:22:45 AM

Quote

TestNet coins are worthless, but useful. They are useful because they are worthless. If you will add value to them, they will be useless, therefore worthless.

Source

This is basically it

Are we talking about testnet coins or alts Grin

~Bitcoin~

legendary

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I have never heard about this coin seems to be altcoin or just a coin for testing as i have seen somewhere in thread it can be reseted. Quite nobe on altcoin also while searching don't find any exchanger for testnet.

shorena

copper member

Activity: 1498

Merit: 1499

No I dont escrow anymore.

Quote from: superresistant on December 22, 2015, 04:42:43 AM

Quote from: private investor on December 22, 2015, 04:23:42 AM

No they don't have value and if you find someone who sells them; then he's a scammer.
Also testnet's height is almost double of the current bc. http://tbtc.blockr.io

I am not claiming anything. I did a search on the forum and found trading threads of testnet bitcoins.

https://bitcointalksearch.org/topic/need-testnet-bitcoins-for-testing-5914

4.5 years ago created...

Quote from: superresistant on December 22, 2015, 04:42:43 AM

https://bitcointalksearch.org/topic/buying-testnet-bitcoins-1btc-for-100k-testnetcoins-196000

1.5 years ago created, because they needed a high amount of coins.

Quote from: superresistant on December 22, 2015, 04:42:43 AM

Usually there are no seller of testnet bitcoins, it is mostly people that want to buy big quantities at once that create those threads.

Sometimes, they get testnet bitcoins for free : https://bitcointalksearch.org/topic/can-anyone-give-me-or-lend-me-testnet-bitcoins-1010120

But I guess it depend of the quantity the need.

There is a faucet that spits out 25 tBTC for the first claim. I still have 25 tBTC for show on my phone. If anyone needs a high amount, they can just ask in the appropriate section and Im pretty sure they will easily get 100+ tBTC without paying a single satoshi.

superresistant

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Quote from: private investor on December 22, 2015, 04:23:42 AM

No they don't have value and if you find someone who sells them; then he's a scammer.
Also testnet's height is almost double of the current bc. http://tbtc.blockr.io

I am not claiming anything. I did a search on the forum and found trading threads of testnet bitcoins.

https://bitcointalksearch.org/topic/need-testnet-bitcoins-for-testing-5914
https://bitcointalksearch.org/topic/buying-testnet-bitcoins-1btc-for-100k-testnetcoins-196000

Usually there are no seller of testnet bitcoins, it is mostly people that want to buy big quantities at once that create those threads.

Sometimes, they get testnet bitcoins for free : https://bitcointalksearch.org/topic/can-anyone-give-me-or-lend-me-testnet-bitcoins-1010120

But I guess it depend of the quantity the need.

private investor

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No they don't have value and if you find someone who sells them; then he's a scammer.
Also testnet's height is almost double of the current bc. http://tbtc.blockr.io

superresistant

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Quote from: achow101 on December 21, 2015, 06:43:08 PM

Quote from: superresistant on December 21, 2015, 04:49:01 PM

Quote from: Raimonn on November 19, 2015, 06:18:56 PM

Tesnet has no value because was made for testing, no for trading it.

That's not an argument. Often, things are used in a different way than they are supposed to.
Humans can speculate on anything. Testnet bitcoins are no different than bitcoins.
If you can speculate on one, you can speculate on the other.

True, but if you actually read the thread, you would know that their sole purpose of testing is enforced. If testnet coins start having value and are used for things other than testing, then the entire testnet network will be reset. This has already been done in the past as we are already on the third iteration of the testnet.

If it is reset often then it would be a crazy idea to speculate on it but it could be seen as a game for speculator that love HYIP and ponzi schemes.
I already seen some exchange thread. Testnet bitcoins must have a value, even a small value so it would be possible (but crazy as a ponzi) to speculate between resets.

amaclin

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Quote from: ?? on ??

You wouldn't want to own or trade Testnet Bitcoins as the developers regularly reset them when testing.

Lie

achow101

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Just writing some code

Quote from: superresistant on December 21, 2015, 04:49:01 PM

Quote from: Raimonn on November 19, 2015, 06:18:56 PM

Tesnet has no value because was made for testing, no for trading it.

That's not an argument. Often, things are used in a different way than they are supposed to.
Humans can speculate on anything. Testnet bitcoins are no different than bitcoins.
If you can speculate on one, you can speculate on the other.

True, but if you actually read the thread, you would know that their sole purpose of testing is enforced. If testnet coins start having value and are used for things other than testing, then the entire testnet network will be reset. This has already been done in the past as we are already on the third iteration of the testnet.

superresistant

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Quote from: Raimonn on November 19, 2015, 06:18:56 PM

Tesnet has no value because was made for testing, no for trading it.

That's not an argument. Often, things are used in a different way than they are supposed to.
Humans can speculate on anything. Testnet bitcoins are no different than bitcoins.
If you can speculate on one, you can speculate on the other.

Raimonn

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Activity: 1456

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Tesnet has no value because was made for testing, no for trading it. If you need some to make some tests on your app or wallet, provably you can buy some to other developer, but there is no exchange.

amaclin

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Quote from: dothebeats on November 19, 2015, 11:59:49 AM

But the argument still stands: someone can produce millions without even sweating for it if he has a couple of TH/s at hand. The thing is, it would be on a loss, given that testnet bitcoins wouldn't be valued in any way.

Someone can produce. You can not.

OK. I will buy 5 millions of testbtc for 10 btc.
Are you ready to ship them tomorrow?

dothebeats

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Cashback 15%

Quote from: BitAurum on November 19, 2015, 11:24:31 AM

Quote from: achow101 on November 19, 2015, 10:18:15 AM

Quote from: OnkelPaul on November 19, 2015, 10:12:06 AM

Quote from: dothebeats on November 19, 2015, 09:57:45 AM

Testnet bitcoins? Hmm, why would it contain value in the first place when everyone can produce millions of it without having a sweat?

Actually, producing millions of them in the shared testnet isn't so easy. You can do that when you run your own testnet, of course, and for most software tests that should suffice, but I think the "official" testnet still offers some additional uses.

Onkel Paul

Actually, I don't think it would be very hard to do that on the actual testnet. The total hardware on the testnet of only a few ths. You could get a few miners and essentially take over the mining on the testnet.

Taking over the mining on the testnet network has no use to the person doing it. It would be more profitable for him to use those miners to mine real bitcoins.

But the argument still stands: someone can produce millions without even sweating for it if he has a couple of TH/s at hand. The thing is, it would be on a loss, given that testnet bitcoins wouldn't be valued in any way.

Topic: Testnet bitcoin value? (Read 3602 times)