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/biz/ - Business & Finance

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9144379 No.9144379 [Reply] [Original]

Buyer beware. The miners of this thing are doing a coordinated propaganda effort. Why the coin is stupid: uses "mining" to distribute the coins, but the network is secured with Ethereum miners. If you understand how blockchain is supposed to work, you'll immediately recognize the towering stupidity of this concept.

(If you don't understand blockchain, watch: https://www.youtube.com/watch?v=bBC-nXj3Ng4))

On the other hand, this market is about 90% stupid, so you might wind up making money, via the greater fool principle. Just understand that is *all* this is.

Full disclosure: I mined this thing for a while myself a few weeks ago -- I have nothing to gain by telling you this.

Stay safe.

>> No.9144394

So glad I bought at 0.0003 and dumped my entire stack on you faggots at 0.002

>> No.9144506

>>9144379
The team is forward about the fact that mining is just meant to secure the "decentralized distribution" of the coin, rather than any network. So the question becomes: do you believe PoW mining is worth ensuring a fair, decentralized token distribution system? Maybe, maybe not. But it's an interesting idea to "solve" the current ICO problem. There's a great article that the SIAcoin team wrote about how ICOs have a completely fucked up incentives system for the founders. I could go on about how the trend of negative attitudes towards ICOs bodes well for this token, but I'll just sound like a shill (I'm sure I already do).

>> No.9144516

WHERE THE FUCK ARE THE MODS?????

>> No.9144547

>>9144379
I don't think you know what you need to know in order to form an informed opinion.

>> No.9144576

>>9144379
WRONG

>> No.9144586

>>9144379
please read this OP
https://medium.com/@0xK/the-what-the-why-and-the-how-of-0xbitcoin-5c635fe2df6b

>> No.9144610

>>9144379
SIGT 2.0

>> No.9144616

>>9144379
sums it up perfectly. thanks OP

>> No.9144633

>>9144616
You're an idiot if you think OP is correct.

>> No.9144698

>>9144379
if you brainlets haven't noticed, every big project is scrambling to get away from mining and to a POS model as fast as they can

>> No.9145077

This needs to be given more attention.

0xBTC is the pure definition of a scam, buy this shitcoin and you will be left holding bags.

>> No.9145102
File: 749 KB, 512x768, satoshis_vision.png [View same] [iqdb] [saucenao] [google]
9145102

>>9144379
>then they fight you

>> No.9145124

>>9144379
Its scam just like every other scam.

But if you are first it works.

Problem is, you are no longer first.

or even early

>> No.9145125

>>9145102

Are you aware that your awful attempt to shill this shitcoin is actively driving away anybody who might otherwise ‘invest’ in this scam?

Literally the most obvious shill I’ve ever seen on /biz/ and that’s saying a lot.

>> No.9145131

>>9144379
>you might wind up making money, via the greater fool principle
Biz IS the greater fool.
It's a tower of toilers, and you're on the ground floor.

>> No.9145145

Stupid pajeet cunt, fud more so you can accumulate. Go read about what this thing is trying to achieve before brainless fud.

>> No.9145147

>>9145131
*toilets

>> No.9145350

>>9144586
>https://medium.com/@0xK/the-what-the-why-and-the-how-of-0xbitcoin-5c635fe2df6b

OK. I read the article. I didn't see anything fundamentally new there. We may just have to agree to disagree. The original Bitcoin paper, by Satoshi, explains the point of mining: to secure the network. Miners get paid in new coins and transaction fees. In exchange, the network is safe from fraudulent transactions. Distribution is just a logical consequence, not the underlying reason.

And when I said there is a sudden explosion of propaganda: obviously there is.

>> No.9145384

Its 100% the miners trying to generate buyer.

Nothing wrong with the coin if you are interested in mining but paying over 12 cents per is plain retarded.

>> No.9145394

>>9144379

>Why the coin is stupid: uses "mining" to distribute the coins

Do you realise how stupid this made you sound? Keep fudding brainlet.

>> No.9145427

>>9144379

this is a pure shitcoin

>> No.9145446
File: 795 KB, 1900x1145, 1519440114145.jpg [View same] [iqdb] [saucenao] [google]
9145446

>>9145394
>..., but the network is secured with Ethereum miners.

Missed that part. The main point.

>> No.9145447

>>9144506

what the fuck is decentralized distribution faggot.

nice use of buzzwords faggot.

>> No.9145479

>>9144633
Everything I said is factually true.

>> No.9145650

>>9145447
Are you retarded? It's not even buzzwords, it's the perfect description of it. It's being distributed without a centralized issuer, i.e. a team selling the tokens via ICO.

I'm not even for 0xBitcoin, but you are just retarded. Wow.

>> No.9145726

>>9145447
Distributed by a non-centralized entity, you fucking moron.