Topic: What will happen to your favorite alt-coin? - page 6. (Read 17272 times)

"Don't put all your eggs into one basket."

~ To avoid this situation we require more than one egg and more than one basket.  

When I returned to this forum I worried that the plethora of alt. coins were stealing liquidity from the Bitcoin market with new exchanges being based in BTC i.e. BTC/LTC etc. Although a logical progression I think this partly explains the recent down trend, actually it was a major factor.

In terms of fiat we are all aware (or should be aware) that Bitcoin does in fact have comparatively low levels of market liquidity.

Alt. coins are a double edge sword. Some will rise, some will fall and others will completely disappear. The markets and the people will decide which flavor they like best. If bitcoin is the kernel then alt. coins are like distros !

Do these numerous alt. coins (and associated markets) reduce bitcoins credibility or actually increase exposure ? Therefore, isn't an 'alt. coin for everyone' just long-term beneficial for bitcoin and crypto ? Undoubtedly, bitcoin is currently positioned at the center of these new markets. I see 'money' flowing into crypto-currencies from all sides and most importantly out of fiat.

Money is only really money when its moving. I've said it many times.

A couple of billionaires can easily move money into Bitcoin and create market liquidity (some did). However, we will only really know that were getting somewhere when a billion people have moved at least a dollar into crypto (and spend it).

I say create as many alt. coins as humanly possible until the world wakes up to the fact that fiat money is broken and ridiculous.

Be your own bank. Make whatever 'money' you want (the corrupt capitalist overloads do this anyway). Free software for freedom. Free money for everyone.

In the early days of bitcoin I said that the best way forward would be to get as many people as possible to start using bitcoin as quickly as possible.

I'll stand by that. No money without the majority.

Don't do that; spamming is evil.


RE: hyper-complexity of the multi-coin paradigm:

uhhh...  Were you a postmodern lit major in college?


I've got a pretty simple, but I think fairly accurate, view of money/wealth.

I believe you can't create wealth just by printing money.  You can create the illusion of wealth (and I imagine some Keynesians would argue the illusion is enough to lubricate the economy and somehow increase productivity and growth and wealth; lets set aside that argument).

You can create wealth by making it easier for people to transact (and money is the world's best invention for doing that, barter is terribly inefficient).

I'm still stuck on how y'all think altcoins create wealth. I don't see any of them being any easier to transact than Bitcoin.

Now to address the Hyper-complexity of the multi-coin paradigm without taking into account the individual programability of each coin.

Different systems will react differently when interacting with each other, but they must work within the same framework.

Imagine a world where there are thousands of POW Coins in circulation in different niches fulfilling different roles.
In low economic areas, a Demurriage Coin is in circulation to enhance commerce, in areas where inflationary coins are required they will work there, others that need a deflationary one will have that and they will interact with each other to fulfill each zones/organizations goals according to their requirements.

In the deeper system a web of currencies modifying the flow of actions acting as a signaling system for the larger efforts of society in general, people go where the value goes. Imagine a deep interconnection of a designed cryptocoin ecology system, where different specializations of knowledge workers work under different coin systems that they are able to contribute to in exchange for their specialized knowledge, POWs tailored to peoples professions constantly changing if necessary the POW to move the coins local resources in it's specified direction. Each profession entwined and signaled according to the demand of all society to promote their specialized work.
  In a more advanced and larger scope these could be entire signaling systems for world wide efforts, Human efforts controlled by intelligently designed systems fully open-source for our new interconnected world.

the progression could look like this

Objects/Actions - Hyper-exchangeable currencies both Fiat and Crypto - sub-system coins with alternate designs - Organizational coins backing a cause - precise action coins for specific professions - Hyper-flexible self organization of decentralized mega-manufacturer / mega-conglomerate / A.I. Corporation Coins. etc .

These will be remixed and upgraded in ways we cannot foresee; All I can say is it will be an impressive world with very precise metrics on all Human endeavors.

they have nice app, i instaled it and did the job

Installed the android app.  ID 4218

Just because he is the lead developer of Bitcoin, does not mean he understands Devtome to it's fullest.

This thread has now been sent to at least 4,000 facebook pages via private message.

I went on FB search and typed in the following things, then sent it to EVERY page that came up:

Financial
Tech
Blogger
Public
School
Occupy
Ravers
Electric Daisy
Adult Swim
Cartoon Network
CNN
News
Boulder
Colorado Springs
Telluride
Mckinney Texas
and many many more (plus I'm sending more now)

On the larger topic of creating wealth, accretion of wealth must be seen beyond the Efficient Markets hypothesis, that rational actors gauge the intrinsic value of a object, commodity, stock based on sound real world information. The standard interpretation is that the Gold has value because I can exchange it, but what is gold backed by? belief that it can be redeemed, no one can eat gold, but it is precious theoretically because people use it for art and technology... yet, somehow the majority of traders, trade based on trends instead of real world data to back up their assumptions.

What happens if we separate the belief, assurance, confidence from the true value of an object? What if we take into consideration how much others will want it, believe in it? Gold for example, if taken on it's pure value, how valuable is Gold truly? We must gauge it according to it's uses in Medicine, Electronics, Aeronautics, Dentistry,etc and exclude it's prestige Industries: Jewelery, Finance, Awards, etc.  The value drops dramatically if these sources of demand are excluded from considering it's value, yet people are swayed by it's prestige; So too can an idea, or cause be created by being backed by a coin, and this is not the only reason that coin would gain value.

A coin would gain value by the percentage of the population that are aware of it, by the people who believe in it's purpose, By sheer human generosity, by it's usefulness, the value of it's community, the products that use it, many many reasons, and like all values it would be changing at all times by the priority of all the factors that affect an object and the percentage of actors trading the object actively, plus of course the prestige factor of future gains, speculation.

Bitcoin has solved a lot of things, this is one of them, it is the gateway for all these alt-coins and causes to reach true wealth... Bitcoin links to true wealth directly and the new coins link to it creating a ecosystem of coins.

Now this new paradigm must be viewed as a new operational model and the potential complexity of the system may become apparent: People are creating organizations founded on an idea, a cause, a belief and applying a reward points model around it, in essence we are gamifying the system, people like to be challenged and being able to gauge there success is very appealing to people, Human psychology.

so for example. I create a merge-mined-coin as a general interface for wealth, a portal for hyper-exchangeable  items(fiat, gold, silver, etc) and tack a strongly backed cause, executed with clairvoyant precision(really good interface and marketing) with a excellent POW system in place to gauge the causes success or failure; Those who believe in the work that is being created by the people earning the rewards through the causes POW, will with generosity donate to the system with the understanding that their purchase is helping the cause by monetizing it's value, which at a later time can be redeemed back to them. If the cause is successful as more people become aware of it it will accrue value increasing marketing awareness until it reaches equilibrium of awareness and willing actors to participate in it at their own discretion.

It's a charity/NGO with a reverse payment option tagged to it. We are basically turning a Idea/Belief/Cause into a stock to fund actual real world actions.

And this response does not even address the hyper-complexity of a vast ecosystem of coinified causes... it truly is programmable money, coins within coins within coins, stacked on top of each other.

You're trying to enlighten Gavin...Gavin Andresen or you know, only the LEAD DEVELOPER of Bitcoin!  Here let me help you out...

LOL

Firstly, this next sentence should explain it all, but I'll continue after:
You don't "sell" things to devtome.

I don't think you understand the world of art and literature. Usually people don't have the money to afford publishing, even for amazon. I still don't know how to make a PDF file. Plus, it's harder to SELL books than it is to GIVE THEM AWAY. Everything written on Devtome is open source, and ANYONE can read/copy/use it for whatever they want. So it's more useful than just publishing to Amazon.

Devtome makes getting paid for writing something that you can just DO. You don't have to seek help in publishing, marketing or anything. It just happens. So it's basically for "The Starving Artists".

Using Devtome's model, you could write for devtome, earn money for publishing, then edit your book so it is not the same as on Devtome (devtome is open source, so you aren't supposed to go sell it, but you can use it to write a book that you can sell) THEN you could go sell a book for Bitcoin or Dollars, after you could afford to publish it.

The wealth isn't created out of thin air. The wealth comes from the value of the community. Devcoiners are developers, coders, video makers and writers and most of them are only slightly invested in Devcoin while they focus on other coins.

So devcoin is really just good for the altcoin and devcoin community in general.

Then in the future, Devtome plans to complete this projects, and as each one is completed the price of DVC will go up.
http://www.devtome.com/doku.php?id=devcoin_bounty

BTC transaction will never live on PAYpal cuz they are tcakable. LEts assume that some ppl dont use BTC legal and they buy illegal stuff. They are untraceable

I feel like we're talking past each other.

You said:  dev coin is a good model-- e.g. writer creates something, uses devcoin, 90% goes to them, 10% to devcoin miner.

I don't understand why a writer wouldn't just use dollars-- create something, sell it for dollars, writer keeps 96%, PayPal gets 4% for processing the transaction.

Or Bitcoin: create something, sell it for Bitcoin, writer keeps 99% BitPay gets 1% for processing the transaction (Bitcoin can do this because it is more efficient than PayPal/credit card/traditional fiat, that is where the wealth is created).

Or is there some magical way that using an alt coin creates wealth out of thin air?  I don't see it....

You don't get to choose. The coins are released from the blocks by the miners, if they don't get paid, there is no coin for anyone else to get paid in. Unless you somehow find people who will mine for free.

Mining makes the bitcoin world go round, so we can expand into other markets, but we can not disregard miners.

Devcoins buy you amazon gift cards, books and even silver or gold on Igotspot. Plus they can be traded for BTC.

If I am a good writer, why would I pay out 10% of my income?  That is more expensive than credit card charges!

Again, don't confuse money for wealth.  Writers produce wealth in the form of the stories/articles/whatever they are writing. The currency used to trade that wealth only matters as far as:

+ What can the writer buy with it
+ If the writer saves it, will it buy more or less in the future

done

Also,
If you are a store owner and you make a coin, people will be able to pre-pay for orders before coming in (you could then send them an email that they show you at the counter), or they could pay by bringing their laptop in (if you have wifi) and depositing to your wallet right in front of you.

And if you can either MAKE a wallet for Iphone/Droid, or get your currency added to one. Then people could just bring in their cell phones and deposit like a laptop.

And having your coin on exchanges like MCXnow or Vircurex could help you get a global market for your company.

All using your coin. Then you can take your coin and sell it for Bitcoins, which again, are $200 right now.

I have now sent this out to just about every charity, cancer foundation, tech organization, church, school, public office, bank, rave group, electric daisy pages, 4/20 ralliers, casino and more that have a FB page that shows up when I search.

Over 2,500 recipients so far

TagBond has a release of a beta android wallet that works with real currency and crypto coins we add to the system (So far Bitcoin, Litecoin, TagCoin, PrimeCoin, PeerCoin, DigitalCoin but please approach us if you are administrators of other coins, or ask  administrators to approach us if you want to see the coin here)

We are giving away 200 TagCoins if you download the android app and install it, register using the phone, then sign in using the website at tagbond.com to get your ID number from your dashboard. (We didn't add the ID to the app, will do in the next update tomorrow)

I will send it to the online account and you can see it appear in the android wallet app, and if you really want I can then transfer it to an address once the promotion is over. We are doing it manually at the moment until the wallet servers are running.

We have a couple of suggestions already and these will go into v4 which will probably be up in a day or so. One suggestion is to click on the TAG logo to refresh the wallet balances, the other is to ask for confirmation before sending.

Once you send me your ID, I will send you 1 TAG, send it back to me using the phone and I will send 2 back.

First 100 posters on this forum only..:-)

http://tagcoin.org/TagCash_V3.0.apk

As an extra feature, whoever has an rfid or NFC tag and binds it their account using an NFC phone gets a bonus of 5 TAG while this promotion is on. Simply login to the app, tap an rfid smart card, nfc tag, to the phone and it will ask to bind it your account ID. Then tell me your ID so I can check and I will send you 5 TAG

Like imagine a new app like instagram coming out, but it is attached to a coin. Getting PAID for posting to instagram.

So like 50% of the coins mined get paid to picture posters. Based on likes or something.

Everyone that has an Iphone would break into the cryptocoin world.