What happened to BitBar (BTB) - page 2.

canoe

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Merit: 100

Quote from: Kyune on June 18, 2013, 02:52:02 PM

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually. Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

I just noticed people were talking about the bitbar chart so I updated that chart. It's now 47 days instead of 30 days.
Remember: my charts aren't necessarily up to date. Check the "Last block processed" field at the top of the page to know when the chart was generated.
http://cryptometer.org/bitbar_90_day_charts.html

MaGNeT

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Quote from: crazy_rabbit on June 18, 2013, 03:51:56 PM

Quote from: Killiz on June 18, 2013, 03:46:49 PM

Quote from: jbmiller10 on June 18, 2013, 03:43:05 PM

Quote from: A L I E N on June 18, 2013, 02:47:17 PM

Quote from: MaGNeT on June 18, 2013, 02:02:14 PM

Quote from: jdebunt on June 18, 2013, 01:58:29 PM

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine

I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead. The low starting difficulty/high block reward initially is why there are so many to sell. This is great for those of us that let them sell into our low bids. Anyone buying at these levels will not regret it. Bitbar is currently trading at 0.05 on 6/18/2013. I will come back to this thread in 12 months to prove that I was right. But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

Then no one is selling either.

I'm not selling my Unicorns either. Doesn't make them worth anything.

Hmm, makes me wonder how long before someone launches the "UniCoin" Tongue

Barnacle_Ed

sr. member

Activity: 271

Merit: 250

Would recommend OP changes the poll to allow each user to submit multiple answers...I personally believe it was a combination of the 60 BTB instamine + no intelligible differences from existing chains + all the shills stuffing up the forums with propaganda of "CONSOLIDATE YOUR WEALTH IN BITBAR!!!!!" that made absolutely no sense.

In any case: good riddance BTB.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: Killiz on June 18, 2013, 03:46:49 PM

Quote from: jbmiller10 on June 18, 2013, 03:43:05 PM

Quote from: A L I E N on June 18, 2013, 02:47:17 PM

Quote from: MaGNeT on June 18, 2013, 02:02:14 PM

Quote from: jdebunt on June 18, 2013, 01:58:29 PM

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine

I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead. The low starting difficulty/high block reward initially is why there are so many to sell. This is great for those of us that let them sell into our low bids. Anyone buying at these levels will not regret it. Bitbar is currently trading at 0.05 on 6/18/2013. I will come back to this thread in 12 months to prove that I was right. But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

Then no one is selling either.

I'm not selling my Unicorns either. Doesn't make them worth anything.

Killiz

hero member

Activity: 750

Merit: 503

Quote from: jbmiller10 on June 18, 2013, 03:43:05 PM

Quote from: A L I E N on June 18, 2013, 02:47:17 PM

Quote from: MaGNeT on June 18, 2013, 02:02:14 PM

Quote from: jdebunt on June 18, 2013, 01:58:29 PM

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine

I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead. The low starting difficulty/high block reward initially is why there are so many to sell. This is great for those of us that let them sell into our low bids. Anyone buying at these levels will not regret it. Bitbar is currently trading at 0.05 on 6/18/2013. I will come back to this thread in 12 months to prove that I was right. But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

Then no one is selling either.

FiiNALiZE

hero member

Activity: 868

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

Who the hell would want them?

All the early birds stocked up massive amount of BTB while everyone else got measly block rewards.

Shmoopy

member

Activity: 71

Merit: 10

When like 70% of the coins (or bars) in circulation are mined in the first day and then 30% are mined over the next 29 days, there's something wrong with the coin.

jbmiller10

full member

Activity: 134

Merit: 100

Quote from: A L I E N on June 18, 2013, 02:47:17 PM

Quote from: MaGNeT on June 18, 2013, 02:02:14 PM

Quote from: jdebunt on June 18, 2013, 01:58:29 PM

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine

I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead. The low starting difficulty/high block reward initially is why there are so many to sell. This is great for those of us that let them sell into our low bids. Anyone buying at these levels will not regret it. Bitbar is currently trading at 0.05 on 6/18/2013. I will come back to this thread in 12 months to prove that I was right. But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

BTB has a volume of 4.72919109 on Cryptsy over the last 24 hours. No one is buying bitbars...

Killiz

hero member

Activity: 750

Merit: 503

Quote from: Sondey10mg on June 18, 2013, 02:53:17 PM

Quote from: Kyune on June 18, 2013, 02:52:02 PM

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually. Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

+1; exactly.

This is the worst coin released to date. Good ideas, terrible launch

This is the same for Novacoin no? Correct me if I'm wrong. How is Novacoin doing now?

Sondey10mg

sr. member

Activity: 308

Merit: 250

Quote from: Kyune on June 18, 2013, 02:52:02 PM

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually. Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

+1; exactly.

This is the worst coin released to date. Good ideas, terrible launch

Kyune

sr. member

Activity: 287

Merit: 250

Take a look at the "Total Supply" chart of BitBar, and notice how it is sharply vertical during the day 1 instamine, and then levels off to nearly horizontal:

http://cryptometer.org/bitbar_90_day_charts.html.

That's a pretty strong indication that the distribution of the ownership of the coin is inequitable from the start, and no amount of mining is really going to change that.

Compare that (at the same website, follow the links), to the "Total Supply" chart of coins like bitcoin, litecoin, digitalcoin, worldcoin, or any other coin where the Total Supply slope up much more gradually. Whatever those coins' flaws -- and there may be many -- they don't suffer from the same "almost everything was mined on day 1" problem.

vinne81

full member

Activity: 182

Merit: 100

Quote from: A L I E N on June 18, 2013, 02:47:17 PM

Quote from: MaGNeT on June 18, 2013, 02:02:14 PM

Quote from: jdebunt on June 18, 2013, 01:58:29 PM

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine

I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead. The low starting difficulty/high block reward initially is why there are so many to sell. This is great for those of us that let them sell into our low bids. Anyone buying at these levels will not regret it. Bitbar is currently trading at 0.05 on 6/18/2013. I will come back to this thread in 12 months to prove that I was right. But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

Wasn't bitbar trading at 0.5 one month ago? Come on man, you're on in 12 months. The problem is, I can't prove you're wrong because BTB won't be listed anywhere.

A L I E N

legendary

Activity: 1358

Merit: 1000

Quote from: MaGNeT on June 18, 2013, 02:02:14 PM

Quote from: jdebunt on June 18, 2013, 01:58:29 PM

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine

I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

I agree.
Bitbar is far from dead. The low starting difficulty/high block reward initially is why there are so many to sell. This is great for those of us that let them sell into our low bids. Anyone buying at these levels will not regret it. Bitbar is currently trading at 0.05 on 6/18/2013. I will come back to this thread in 12 months to prove that I was right. But in the mean time please panic sell all your bitbar so I can buy more at 0.05.

Sondey10mg

sr. member

Activity: 308

Merit: 250

Can someone link the site where you can see how much coins there were mined the first day?

It showed how incredibly bad this coin was launched. It was really sad

mill0601

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Activity: 1162

Merit: 1000

Quote from: Killiz on June 18, 2013, 02:38:19 PM

Quote from: mr_random on June 18, 2013, 02:09:59 PM

Too much negative publicity about the day 1 insta-mining, caused by 2 or 3 very vocal members. That troll substrata and the other guy, I forget his name.

Insta-mining on day 1 of launch is actually commonplace. However when those insta-mined coins could be worth 0.5 bitcoins each, that's when the tears flow and people start throwing epic tantrums.

That said, the continuous difficulty adjustment means it will always be profitable to mine so long as there is an exchange and just a small amount of demand.

+1

+2

Killiz

hero member

Activity: 750

Merit: 503

Quote from: mr_random on June 18, 2013, 02:09:59 PM

Too much negative publicity about the day 1 insta-mining, caused by 2 or 3 very vocal members. That troll substrata and the other guy, I forget his name.

Insta-mining on day 1 of launch is actually commonplace. However when those insta-mined coins could be worth 0.5 bitcoins each, that's when the tears flow and people start throwing epic tantrums.

That said, the continuous difficulty adjustment means it will always be profitable to mine so long as there is an exchange and just a small amount of demand.

+1

Killiz

hero member

Activity: 750

Merit: 503

Quote from: skyangel on June 18, 2013, 02:24:40 PM

Quote from: mr_random on June 18, 2013, 02:09:59 PM

and the other guy, I forget his name.

lol

Just got this joke too Grin

skyangel

sr. member

Activity: 301

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FLO dev

Quote from: mr_random on June 18, 2013, 02:09:59 PM

and the other guy, I forget his name.

lol

Killiz

hero member

Activity: 750

Merit: 503

Quote from: rbdrbd on June 18, 2013, 01:49:59 PM

TruCoin killed it.

This. More reason than any.

Quote from: MaGNeT on June 18, 2013, 02:02:14 PM

Quote from: jdebunt on June 18, 2013, 01:58:29 PM

bitbar did seem to have potential in the beginning, and the price showed up....that potential & promise was never fulfilled though.

I don't see how we can say that already.
It's still in the top region of CoinChoose, the difficulty adjustment is perfect and fast and the maximum amount ever existing never changed.

I think it's actually good for Bitbar price is dropping so fast and low.
The people who mined many BTB at the start have 2 options: hold at low price and pray or sell quick before dropping lower.

The diff adjustment will make it always (close to) profitable to mine

I don't see why it can't go up again, once.

I will buy a lot of BTB as soon as the price is right for me

Most of the bars are being held, only the weak and foolish are selling, probably mostly noob smalltime miners, dumping the small amount they have mined just to get a piece of the holy grail of a bitcoin.

Yes now is not the time to buy, its sensible to put in bids and wait for it to fall further. But I think maybe it is near its bottom, the dumping has slowed over the last couple of days

mr_random

legendary

Activity: 1344

Merit: 1001

Too much negative publicity about the day 1 insta-mining, caused by 2 or 3 very vocal members. That troll substrata and the other guy, I forget his name.

Insta-mining on day 1 of launch is actually commonplace. However when those insta-mined coins could be worth 0.5 bitcoins each, that's when the tears flow and people start throwing epic tantrums.

That said, the continuous difficulty adjustment means it will always be profitable to mine so long as there is an exchange and just a small amount of demand.

Topic: What happened to BitBar (BTB) - page 2. (Read 3219 times)