Serious 0xBTC Discussion

[Anonymous No.13606753]

Orange Pill:
0xBTC is the first POW token on Ethereum blockchain. It combines the advantages of Bitcoin and Ethereum without their short comings.

Bitcoin properties
> POW as fair distribution, no ICO
> 21million cap gives store of value

Ethereum properties
> same level of security and block time as Ethereum blockchain
> ERC-20 token interact better with other tokens than Ether (ETH)
> upgradable using smart contract

Recent and future development
> lava token: allow transfer of any ERC-20 tokens without holding ETH for gas fee
> zk-0xbtc: zero knowledge proof version of 0xBTC

So how early are we on this? Is economic abstraction on Ethereum a solid idea for 0xBTC?

[Anonymous No.13606824]

God Bless America ~21k 0xBTC anon

[Anonymous No.13606831]

>>13606753
Volume is breaking all time highs, even if a lot of it is wash trading. I predict it will do well in the coming bullrun

[Anonymous No.13606888]

Vlad Zamfir's article "Against Economic Abstraction"

https://medium.com/@Vlad_Zamfir/against-economic-abstraction-e27f4cbba5a7

[Anonymous No.13606983]

>>13606831
I wouldn't use the volume as any kind of indicator of anything. 0xBTC has the good/bad luck of mostly being traded on Mercatox, where the volume isn't just "a lot" or "mostly" wash trading, we're talking literally >99% wash trading. Maybe that will make the coin look more attractive too newfags and idiots, but it's not an indication of any actual trading. Actual trading does occur (I watch the Mercatox order book) but there are on periods and off periods, and recently there hasn't been much. I think over the long run it will gradually increase, but still have active periods and dead periods for a while.

[Anonymous No.13607188]

>>13606888
Brainlet here, what does that mean?

[Anonymous No.13607226]

it means no.

[Anonymous No.13607249]

>>13607188
He's saying that using tokens in place of ETH is a bad idea because it creates issues of liquidity and price manipulation of potentially illiquid tokens. It's a legitimate concern. I hear people talking about things like "automated token swaps" and basically going around assuming that you can just exchange one token for another or for ETH and it's just like passing a token to a function as an input and getting another token as an output. This seems laughably naive to me on the surface, because it ignores the realities of the underlying market and liquidity, a classic example of a "leaky abstraction". But I also don't want to just dismiss the idea outright because it's never a good idea to just assume something can't be done in some reasonable way if people think about it carefully and build good products around it.

[Anonymous No.13607487]

>>13607249
Vitalik also said Ether's price can be an economic deterrent to prevent attack on future POS system. That's why I'm curious to see 0xBTC's role in POS Ethereum system if 0xBTC turns out to be sucessful. I think we might see Ethereum keeping it's inflation as some form of "interest rate" for all stakers.

0xBTC can perhaps abstract on that with extendable functionality and fixed supply?

[Anonymous No.13607595]

>>13607487
Literally anything could happen with ETH and Ethereum itself. The devs can change anything anytime, and to the degree that they can't it's because of some complicated politics that will end up producing some other unexpected outcome. In the unlikely even that 0xBTC becomes massively successful, they could use that in some way as a means of deterring attacks on a proof of stake system just as well as they could use a high price of ETH. But there's no need to speculate about outlandish scenarios when the mere fact that ETH could undergo any kind of change at any time at the discretion of the devs is already a good enough reason to think that an immutable currency would be better. Actual immutability is a surprisingly rare property in the crypto space, and you'd think that would be something people would find important for something that's supposed to be a commodity or store of value or whatever.

[Anonymous No.13607620]

>>13606983
>>13607249
>>13607595
How much have you lost on this shitcoin?

[Anonymous No.13607628]

>>13607620
Nothing yet, I'm a bit above breakeven right now. But there's still plenty of time for that

[Anonymous No.13607651]

>>13606753
Hahahaha, everytime i read a 0xbtc thread, i know it recently dumped.
0xbitcoiners on suicide watch

[Anonymous No.13607738]

>>13607595
How can ERC 20 token deter attacks on proof of stake Ethereum?

I agree on the immutable part. Especially after cz proposing a bail out on BTC.

[Anonymous No.13607765]

>>13606753
0xBTC will die as ETH 2.0 is a complete new chain

[Anonymous No.13607773]

>>13607628
Jesus christ imagine being active at the literal bottom of the next crytpo cycle and BUYING FUCKING 0XBITCOIN I don't even want to think of the misery that's in store for you. May god have mercy on your soul.

[Anonymous No.13607784]

>>13607651
Have you got your suicide insurance?

[Anonymous No.13607790]

>>13607738
All proof of stake is, is just the idea of having people store something that has market value in the system, and lose some part of it if they act in some malicious way. If they want to use an ERC20 token as part of that in some way, that's not some kind of impossible feat of engineering. I'm sure there are plenty of problems they'd have to solve, but at the end of the day all this stuff is is some cryptographic keys with perceived monetary value. You can do whatever you want with that if you're the devs.

[Anonymous No.13607807]

>>13607773
Thanks, let's talk again in a couple of years, I collect tears and salt as a hobby

[Anonymous No.13607832]

>>13607790
Thanks toast, I guess I'm not knowledgeable to understand this part.

[Anonymous No.13607873]

>>13607832
I'm not the developer, anon. I'm just a richfag who buys shitcoins and recently bought some of these.

[Anonymous No.13607942]

>>13607873
LoL, you sure did your due diligence. Want to share what other coins you're holding?

[Anonymous No.13607983]

>>13607942
50/50 bitconnect and req

[Anonymous No.13607993]

>>13607942
Sorry, I don't give out any info about what I trade. Just here to add to the discussion a bit so that maybe someone who's only seen the weird fud /biz/ generates about this coin decides to look into it a bit.

[Anonymous No.13608002]

>>13606753
If I want ERC-20 compatibility, why shouldn't I just use WETH (wapper Ether)?

[Anonymous No.13608045]

>>13607993
>weird fud

[Anonymous No.13608071]

>>13608002
That'll work, and Dai too
0xBTC still has the fair distribution property even though I don't know how valuable that is

[Anonymous No.13608117]

>>13608002
Because WETH is a proxy for ETH, and 0xBTC isn't ETH but an entirely different currency with features you don't find in ETH. The feature I like most and I think is more important than any other difference, is the immutability.
>>13608045
The weirdness of the 0xBTC fud on /biz/ is rivaled only by the gayness of the LINK shilling. The pajeets, the "secret premine", the "ETH 2.0 will break it and nobody can possibly do anything about that". Remember Judge Doom? It's weird as hell and you know it.

[Anonymous No.13608186]

>>13608117
The fudders are accumulating

[Anonymous No.13608239]

Why wouldn't this moon in a bull
Same name as Bitcoin, which normie love.
Low cap so can induce fomo.
Currency based coin with no leaders who can exit scam, therefore makes it safe in that regard.
What other low cap alts beat this?
Only problem is mercatox is a trash tier exchange, which is a big one.
If we were on binance I'd guarantee a good boost, although this coin is similar to Raiblocks.
Raiblocks was also only accessible on a shit exchange.
The coin has no miner fee to send, that alone makes it King.

[Anonymous No.13608268]

>>13606753
One of the most pointless coins in crypto. Miner pnd, left deluded bagholders in their wake. I feel bad for people who actually hold this. Pro tip: anybody can make this shit rather easily. Fucktards kek

[Anonymous No.13608272]

>>13606753
ETH is already a disadvantage kek

[Anonymous No.13608287]

>>13608268
Surely most cryptos publish public code.
Anyone can just copy and paste the code, by forking the token.
Any ICO this applies to.
The reason it doesn't work for currency is because of the brand.
Sure binance copy and pasted eth, still means eth has value.

[Anonymous No.13608294]

And that 3M chart? fucking Kek who really still believes in this I am fucking laughing out loud rn

[Anonymous No.13608359]

I still have 1.5k of these curry lathered shitcoins. I might buy another 1k. Just in case.

[Anonymous No.13608419]

>>13608287
I mean with the other alts, bad news can come out to crash the price.
But with this, that doesn't exist.
However I understand that good news is difficult to come from the coin since new developments aren't coming.
Aside from increase in adoption perhaps.

[Anonymous No.13608437]

>POW

[Anonymous No.13608456]

Inflation, because this mimics BTC's white paper, the first few years inflation will destroy any short term profits. That being said this could do 1000x long term.

[Anonymous No.13608497]

>>13608419
>new developments aren't coming
I think the idea of 1:1 swaps between new kinds of tokens and 0xBTC, as the developer did with LAVA, is a really good idea. You get an immutable base currency, while anyone can create any extension to the token by creating their own version that's pegged 1:1 to the original. It seems trivial because it doesn't require any complex software engineering, but I think it's a really big deal.
For example, if you look at it from an economic perspective, all it takes to drive demand for 0xBTC is for someone to create some dapp that requires staking of a new token that's on a 1:1 peg with 0xBTC. There's only so many altcoins for which you can say that any random person on the internet can earn money for themselves with a crypto project in a way that directly creates new demand for the underlying coin.

[Anonymous No.13608518]

>>13607249
The wash trading is done by Mercatox because they are the biggest miners of 0xBTC

[Anonymous No.13608571]

>>13608456
True, the rapid minting of new coins damages the value the most.
how many new coins are mined each month?

[Anonymous No.13608588]

>>13608497
The main reason I'm bullish is because it's fairly low cap, with no exit scam possibility.
Most of the other low caps are fucking gambles, the team could exit scam next week. And in fact as we know by now it's only a matter of time until they do.

[Anonymous No.13608603]

>>13608117
>The weirdness of the 0xBTC fud on /biz/ is rivaled only by the gayness of the LINK shilling
If you are truly holding 0xbtc I BEG you not to buy chainlink. The stink of your curry farts would ruin the yacht party.

[Anonymous No.13608618]

WHEN ZK0XBITCOIN INFERNAL FAGGOT

[Anonymous No.13608651]

>>13608618
oh good, i was worried we wouldn't get one of these this thread. thank you

[Anonymous No.13608670]

>>13608603
I hold 18k LINK as a suicide prevention bag. The air of actual unironic psychosis among linkfags here prevented me from buying a bit more, even though it seems like a good project overall. Feels good to know I'll make a good profit if your retarded shitcoin somehow breaks $100 against all odds.