/biz/ - Business & Finance

[Anonymous No.9704988]

So I have been thinking about this token a lot, having discussions with people some from their discord and some friends of mine

The posts about "Satoshi Vision" etc. are total bullshit, and it has very little hope of being used as a currency in any fashion in the near future

It is terrible at serving the intended purpose of Bitcoin.
HOWEVER, it has massive potential for use as a commodity or store of value - the only thing Bitcoin has actually been good at for a long time

I was initially very critical of it using a lot of power and computational energy for no apparent benefits over using regular Ethereum or other cryptos that exist today, but it was pointed out to me that the electricity problem is an issue with our electricity generation being dirty and not directly with the technology itself

I remain open to the possibility that a better solution exists for this use case which is not as wasteful, but I'm also not aware of any good candidates

Another issue I have is people frequently using the word "fair" to describe the distribution, and comparing it to token ICOs, which are not really comparable. It is not a project with a very specific goal in mind and it is not seeking investors
The majority of it will be owned by those who get in earlier

However, it is "fair" in the sense that it is awarded to anyone who contributes hashes, cannot be forged, and the algorithm it uses will behave the same way that Bitcoin did, producing scarcity and thus value as demand rises

It has all of the benefits of Bitcoin, while being an ERC token and smart contract compatible (and all of the strengths of Ethereum intrinsically)

It also has first mover advantage for mineable ERC tokens... and a direct association with Bitcoin

All it will take is for a significant amount of investors to realise the potential it has, and it will become a self fulfilling prophecy

I am open to any counterarguments you might have - pls discuss /biz/

[Anonymous No.9705023]

>>9704988
Furthermore, it has only been trading since April 3rd, and only on DEXs until recently. It is also now on a single backwater garbage exchange
It's not even on CoinMarketCap yet

>this is still the ground floor

[Anonymous No.9705184]

>>9704988
>>9705023
>comfy as fuck
Hope ur right op

[Anonymous No.9705190]

ok say i want to buy this where is best place

[Anonymous No.9705216]

>>9705190
DEXs: Enclaves or Forkdelta
Otherwise Mercatox is the only place at the moment, but I haven't used it

[Anonymous No.9705270]

What a useless crock of shit

There doesn't need to be another store of value, we already have one - Bitcoin

Unless your 0xbitcoin can become the main trading pair for alt coins as well... there really is no need for it

[Anonymous No.9705294]

>>9704988
This is literally the best thing which happend in 2018

[Anonymous No.9705309]

>>9705270
Bitcoin is ridiculously slow and expensive to use, and is not ERC compatible / cannot be used directly with smart contracts
Surely you can acknowledge the advantages the Ethereum network has over Bitcoin?

[Anonymous No.9705335]

>>9704988
If you bought this you deserve to loose money.

Its just another wannabe btc and ETH

[Anonymous No.9705385]

>>9705335
Can you provide any reasoning to support your conclusion?

[Anonymous No.9705624]

>pls respond

[Anonymous No.9705771]

B U M P
U
M
P

[Anonymous No.9705798]

>>9705023
>>9705184
Is it too late to get in now? not looking to put much just around 500$

[Anonymous No.9705850]

>>9705798
Look at >>9705023

It might dip down from now, or this might be the lowest it ever goes, but I think this is extremely early in the grand scheme

[Anonymous No.9705865]

>>9705798
No.
Don't expect it to go up to $1000 in a month like some unrealistic people here do though.

[Anonymous No.9705927]

>>9705865
but 10$eom easy

[Anonymous No.9705960]

Nice try at trying to bring the price down faggot. Buy at $2 or buy at $47.80 (Price of BTCP), no one gives a fuck. Go home

[Anonymous No.9706062]

>>9705927
it's already eom nigger

[Anonymous No.9706199]

>>9706062
its june

[Anonymous No.9706206]

>>9705927
I'm against price predictions but considering the Payfair thing tomorrow and the inevitable CMC listing around the corner, 7-9 dollars end of June seems like a surprisingly realistic number.

[Anonymous No.9706614]

Shameless bump

[Anonymous No.9706719]

>>9704988

OP is right. $10 end of June, $100-1000 EOY

[Anonymous No.9706756]

>>9705294
more like when 0xbitcoin moons
https://www.youtube.com/watch?v=31avTtN_oSw

[Anonymous No.9706766]

>>9706756

[Anonymous No.9706941]

>>9706719
im g-gonna make it with 6 of them r-right

[Anonymous No.9706969]

no

[Anonymous No.9706994]

>>9704988
It has no potential and no reason to exist. Just put your money in one of those stupid fucking pyramid tokens and stop pretendjng to be an investor.

[Anonymous No.9707004]

C was right!

This is an inverse head and shoulders!

[Anonymous No.9707028]

>>9706994
>no justifications or counterarguments whatsoever
K

[Anonymous No.9707046]

>>9706994
upset you missed it at $0.08?

[Anonymous No.9707082]

>>9707028
Man I dont give a fuck buy what you want. Whats there to argue about? Its another transparently retarded GPU miner coin. They are all, every single one, fucking worthless because GPU miners are pathetic spineless subhuman nucoiners with floppy jello hands

[Anonymous No.9707103]

>>9707082
oh. and how do you know that? pray tell me.

[Anonymous No.9707122]

>>9707082
As long as we make money, who the fuck cares ? Yeah, its about tech and adoption, but lets not kid ourselves, we're in mostly for the money.

[Anonymous No.9707177]

>>9707122
Youre not going to make money when the entire supply is held by a few greedy numails who only want to dump on each other asap before a better organised group 51%s them

[Anonymous No.9707195]

LMAO you idiots, store of value is literally a fucking meme, anything can be a fucking store of value until the price drops, which it does since there is no reason to hold it cucktards

[Anonymous No.9707226]

>>9707195
bitcoin will not drop under cost of minning

[Anonymous No.9707247]

Why not just use eth as the medium of exchange then, it already has value as gas. 0xbtc is unnecessary

[Anonymous No.9707256]

>>9707247
its necessary to make it

[Anonymous No.9707259]

>>9707122
>As long as we make money, who the fuck cares
You sound like ((Them)). That's all they care about instead of the infrastructure, technology, advancement of society using this technology, and so forth. Of course the first thing a neet or person hears is these people are getting rich just trading these digital coins that get pumped based on hype and speculation.

ICO's just pop out more and more every day and they all claim they scale and this and that. Regulation has to happen. It's not a digital currency system. It's a trade fiat for tokens, wait for others to do the same, and sell at the top and cash out back into fiat which is a scam too.
Some of us are just tired of this system of getting fucked over and crypto no different than it if all we do is trade tokens to get more fiat.

But people like you don't give a shit.

[Anonymous No.9707260]

0x will one day flip bitcoin. Check 'em

[Anonymous No.9707303]

>>9707259
You need to go back to plebbit you fucking massive fag

[Anonymous No.9707305]

still comfy so

[Anonymous No.9707332]

"direct association with bitcoin"

stealing the name for no reason is not exactly direct association brainlet. it is a lame rent-seeking tactic

[Anonymous No.9707340]

>>9707082
Well you could address or try to dispute any of the points I made about why it is valuable and different to anything before it

>Its another transparently retarded GPU miner coin

I'm inclined to think you didn't even read my post and have no idea what it is or how it works

>>9707195
>anything can be a fucking store of value

Perhaps in the literal sense, but it's retarded to ignore that cryptos have properties which make them better or worse as commodities.

0xBTC has the same strengths as Bitcoin - PoW means "fair" distribution to anyone who contributes hashes, coins are unforgeable and the network is fully decentralised.
This produces scarcity, similar to "real" commodities such as gold, and is arguably the biggest reason for the success of BTC

It's impossible to 51% attack without 51%ing Ethereum, so it is better than Bitcoin in that way

It is much more evenly distributed than Bitcoin, where many were mining for years before it was worth anything and the distribution is extremely top heavy

ERC technology makes it immensely flexible by comparison, it and benefits from all future technological improvements to Ethereum

What alternative can you suggest which is a better store of value?

[Anonymous No.9707384]

>>9707332
If you look into it and read the whitepaper, you will find it is very specifically intended as an implementation of Bitcoin as an ERC token
I'm not sure how much more direct it could be

[Anonymous No.9707405]

>>9707340

Thanks for making me feel good about my 834.

[Anonymous No.9707480]

>>9707259

I do give a shit. But all these things won't put food on my table.
All i need is a 10x so i can get myself an apartment on my own. Yeah, i agree with you, but first of all i need those 30k.

[Anonymous No.9707579]

>>9707405
You're welcome anon, I am finding it difficult not to FOMO in with more of my portfolio

>>9707480
Unironically I think this has the best chance of 10x + out of any other cryptos atm

[Anonymous No.9707635]

List of actually useful pure currencies / mediums of exchange:

Bitcoin
0xBitcoin
Monero

Litecoin and all blockchain clones have no value proposition in this space.
ICO tokens are all meant to be used in their own ecosystem and used to raise funds.
Ethereum is meant to be gas.

weth is the only thing that might come close, but it remains to be seen if its a good medium of exchange due to rate of production, distribution, and flow through the Ethereum ecosystem. Vitalik himself said its not meant to be a currency.

[Anonymous No.9707874]

>>9707340
PoW is weak. You are saying It intends to seek decentralization and a 'fair' distribution, but obviously PoW concentrates the mining-power to a small amount of actors who can actually influence and make changes without taking into consideration the will of the community nor the businessman/developers. Basically PoW gives stimulants to miners and in that process some gets the 'power' over it. That's a bit of contradiction, don't you think?
Check out forking.

Thus, Obelisk got my attention in this regard.

[Anonymous No.9708037]

>>9707635
This

[Anonymous No.9708057]

>>9707874

What do you mean by influence and make decisions? The contract is already there and final. There is no forking. What "power" do you think the miners have here? Mining is only for distribution everything else is handled by the Ethereum network. In that regard, PoW is the best method of distribution as it mimics the mining of precious metals.

[Anonymous No.9708060]

>>9705385
not him but it's an eth token named bitcoin ffs

[Anonymous No.9708147]

i like this bread
bumperino

[Anonymous No.9708151]

>>9707874
I had a read of the Obelisk website and I must admit I'm somewhat ignorant of the adoption and use cases for Sia and Decred, but I get the impression that project is far beyond the reach of any typical crypto investors who simply head to an exchange, purchase something and hold onto it in hopes of the value rising over time.

By forking are you referring to a fork of 0xBTC? Doing so is impossible without forking Ethereum itself.

The concept of fairness is difficult to solve and quite broad... it's not like you can just create a new crypto and fairly airdrop it to everyone thus creating some perfect economy.

It's (very) roughly comparable to gold miners - their power is only to be able to sell that gold, they can't alter it in any way or make it stop functioning.
The rewards are equally distributed to those who contribute to the manufacturing process.

I would argue that Bitcoin itself is flawed in a lot of ways, but it has been extremely effective as a digital commodity more than anything else, and led to the rise of the entire Cryptocurrency ecosystem.

[Anonymous No.9708202]

>>9707874
>>9708151
To summarise a little more succinctly, it is in no way perfect but essentially a much advanced version of Bitcoin