Testnet bitcoin value? - page 2. | Bitcointalksearch.org

BitAurum

sr. member

Activity: 318

Merit: 250

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.

achow101

staff

Activity: 3374

Merit: 6530

Just writing some code

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 hashrate on the testnet of only a few THs. You could get a few miners and essentially take over the mining on the testnet.

OnkelPaul

legendary

Activity: 1039

Merit: 1004

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

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

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

OnkelPaul

legendary

Activity: 1039

Merit: 1004

As unamis76 already quoted, testnet coins are useful as long as they are worthless, because that means you can get them without much effort, use them to test your software, send them using weird new transaction types without fear of losing anything valuable.
As soon as people start trading them and start emptying testnet faucets, they lose their usefulness because it will be harder to get some, and developers are forced to think twice before using them in some test or experiment.

Just leave them alone. If you want to play with them, get some from a faucet (or mine some if you have a USB miner), send them to a different wallet of yours, return them to the faucet, whatever.
But don't buy or sell them for real BTC.

Onkel Paul

mocacinno

legendary

Activity: 3402

Merit: 5004

https://merel.mobi => buy facemasks with BTC/LTC

Quote from: achow101 on November 19, 2015, 09:50:34 AM

Quote from: USB-S on November 19, 2015, 09:27:54 AM

Quote from: Mickeyb on November 19, 2015, 09:18:31 AM

Haha I bet there will be all bunch of people that will now go and hit the faucets after seeing this thread and all this by hoping that one day even the test net bitcoins will have a value!

Heck I didn't even know that test net faucets do exist!

They exist?
What would be the point of that? I bet it'll take pretty long time before testnet coins are allowed on any exchange. However when decentralized exchanges launch I see people actually trading testnet coins.

And then they won't be able to spend then once the testnet is reset. This has already happened twice in the past. We are already on the third version of the testnet. The point of the testnet is for testing only, not for actually trading and actually having value. It is for technical development without actually wasting money. No one will care if you lose a free testnet bitcoins while testing something, but you will definitely care if you lose a few mainnet bitcoins due to a faulty program that you are testing.

Here is a good testnet faucet: http://tpfaucet.appspot.com

If i remember correctly, the reason why the testnet was reset, was exactly because people started trading testnet coins... So when they start having a value, the testnet will probably be reset once more...

achow101

staff

Activity: 3374

Merit: 6530

Just writing some code

Quote from: USB-S on November 19, 2015, 09:27:54 AM

Quote from: Mickeyb on November 19, 2015, 09:18:31 AM

Haha I bet there will be all bunch of people that will now go and hit the faucets after seeing this thread and all this by hoping that one day even the test net bitcoins will have a value!

Heck I didn't even know that test net faucets do exist!

They exist?
What would be the point of that? I bet it'll take pretty long time before testnet coins are allowed on any exchange. However when decentralized exchanges launch I see people actually trading testnet coins.

And then they won't be able to spend then once the testnet is reset. This has already happened twice in the past. We are already on the third version of the testnet. The point of the testnet is for testing only, not for actually trading and actually having value. It is for technical development without actually wasting money. No one will care if you lose a free testnet bitcoins while testing something, but you will definitely care if you lose a few mainnet bitcoins due to a faulty program that you are testing.

Here is a good testnet faucet: http://tpfaucet.appspot.com

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Quote from: USB-S on November 19, 2015, 09:27:54 AM

Quote from: Mickeyb on November 19, 2015, 09:18:31 AM

Haha I bet there will be all bunch of people that will now go and hit the faucets after seeing this thread and all this by hoping that one day even the test net bitcoins will have a value!

Heck I didn't even know that test net faucets do exist!

They exist?
What would be the point of that? I bet it'll take pretty long time before testnet coins are allowed on any exchange. However when decentralized exchanges launch I see people actually trading testnet coins.

Apparently they do. Read through the thread above.

I guess that they serve as a purpose to get the test coins so you can test new features, or even just sending and receiving of the bitcoins for the newbies.

Yes about the trading. But as someone has said above, test net coins have already had some value in the past but then the whole test net was reset and they have lost their value!

USB-S

sr. member

Activity: 574

Merit: 250

In XEM we trust

Quote from: Mickeyb on November 19, 2015, 09:18:31 AM

Haha I bet there will be all bunch of people that will now go and hit the faucets after seeing this thread and all this by hoping that one day even the test net bitcoins will have a value!

Heck I didn't even know that test net faucets do exist!

They exist?
What would be the point of that? I bet it'll take pretty long time before testnet coins are allowed on any exchange. However when decentralized exchanges launch I see people actually trading testnet coins.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Haha I bet there will be all bunch of people that will now go and hit the faucets after seeing this thread and all this by hoping that one day even the test net bitcoins will have a value!

Heck I didn't even know that test net faucets do exist!

unamis76

legendary

Activity: 1512

Merit: 1009

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

USB-S

sr. member

Activity: 574

Merit: 250

In XEM we trust

Quote from: rich93 on November 19, 2015, 06:49:24 AM

Quote from: LiteCoinGuy on November 19, 2015, 06:44:05 AM

Quote from: hl5460 on November 19, 2015, 03:01:41 AM

Is there an exchange rate for testnet bitcoin. I did some search but couldn't find one?
in other words, does test bitcoins has value?

it already happend that testnet-coins gained value but every time the testnet was resetted.

How can they have monetary value without being on an exchange? Was there some shifty exchange that had a bitcoin testnet market? It would come as no surprise to me considering some of the utterly crap alts on the worst exchanges. A reset bitcoin testnet network would probably last longer than most of their networks. Some of them are dead within a week.

Well you can exchange them for bitcoin if you find a person willing to do the trade. Mostly I've seen people give away free testnet coins to anyone who wants them. But they are pretty much worthless. I guess they would be a little bit more expensive as time progresses, since testnets block halving occurs just like bitcoins and testnet coins would be hard to come by in the distant future.

rich93

full member

Activity: 595

Merit: 101

Chromia - Relational Blockchain

Quote from: LiteCoinGuy on November 19, 2015, 06:44:05 AM

Quote from: hl5460 on November 19, 2015, 03:01:41 AM

Is there an exchange rate for testnet bitcoin. I did some search but couldn't find one?
in other words, does test bitcoins has value?

it already happend that testnet-coins gained value but every time the testnet was resetted.

How can they have monetary value without being on an exchange? Was there some shifty exchange that had a bitcoin testnet market? It would come as no surprise to me considering some of the utterly crap alts on the worst exchanges. A reset bitcoin testnet network would probably last longer than most of their networks. Some of them are dead within a week.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1011

In Satoshi I Trust

Quote from: hl5460 on November 19, 2015, 03:01:41 AM

Is there an exchange rate for testnet bitcoin. I did some search but couldn't find one?
in other words, does test bitcoins has value?

it already happend that testnet-coins gained value but every time the testnet was resetted.

amaclin

legendary

Activity: 1260

Merit: 1019

Quote from: Small on November 19, 2015, 06:31:26 AM

It's mostly used for testing and dev can easily reset it.

Reset the running network with clients, modes and miners? Grin

Are you joking?
It is not "easily"

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: amaclin on November 19, 2015, 06:28:19 AM

Why not?
If one person wants to buy and another person wants to sell?

If we were to go by that rule, everything would have value (dead coins too?). You can find a fool to buy pretty much anything if advertised properly.

Quote from: Small on November 19, 2015, 06:31:26 AM

It's mostly used for testing and dev can easily reset it. There are plenty of faucet which gives out free testnet coins for testing. It's pretty much free.

There's also this.

Small

sr. member

Activity: 266

Merit: 250

Grow SMALL amount of BTC by earning it

Quote from: hl5460 on November 19, 2015, 03:31:22 AM

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

No, why should it have any value?

I can see that the testnet are quite busy:
http://tbtc.blockr.io/block/list/

It's mostly used for testing and dev can easily reset it. There are plenty of faucet which gives out free testnet coins for testing. It's pretty much free.

amaclin

legendary

Activity: 1260

Merit: 1019

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

No, why should it have any value?

Why not?
If one person wants to buy and another person wants to sell?

Amph

legendary

Activity: 3206

Merit: 1069

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

jubalix

legendary

Activity: 2618

Merit: 1022

when btc goes well nova....

test net btc will likely be traded......

Topic: Testnet bitcoin value? - page 2. (Read 3602 times)