Value of feathercoin or any other coins for that matter is
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[quote name=“mmyhre” post=“44929” timestamp=“1387186780”]
[quote author=dmrkrc link=topic=6061.msg44917#msg44917 date=1387184170]
You are wrong I am a miner as well, by default no miner will give away their coins less than the cost of the electricity and the investment on the hardware, the way I hold some of my assets on FTC is priceless for me because no one can touch them, it is the ultimate swiss bank account and those swiss numbered bank accounts are not what it used to be either, you can not beat crypto, it is the beautiful independent idea that gives value to FTC it can not be stopped it will only grow, be patient stop thinking negatively, It is semi complicated at best currently not everyone can understand what’s going on at one look, it will be made easier for avarage people to understand and use crypto in the very near future.remember how the people of cyprus were robbed it can not happen on my FTC account unless I let my guard down
It is the idea that will propel the crypto to masses and other practical uses where government scrutiny has had people and business up to their eyeballs people want to be safe, by safekeeping some of their assets from greedy banks and governments you can’t even do that with gold anymore even physical gold they will physically take it away from you plus it is heavy and hard to store and transport safely and not easy and safe to sell physically, so we should all stop thinking about the old system already and let the things run its course it will all be rewarding.
I have had no one so far that opposes the crypto idea and think it will be worthless and they fall in love with it as soon as they think they understand,
Regards
Demir
[/quote]Wrong decade about the gold standard. My mistake. Early 70`s.
You point to all the good thing about alt coins. Agree with you on that. Still you are missing the point. The 100.000 feather coins you have in your wallet won`t help you when the IRS comes knocking on you door tomorrow as an example.
[/quote]Of course it will! I can trade them on just about every exchange for BTC, and BTC for USD. It’s trivially simple. I’ll have the funds in my bank account in 3 days.
[quote]
About pegging the alt coins to assets means that you bring stability into the market. When you have that merchants and consumers will likely adapt the currency more quickly.
[/quote]Merchants and consumers are adopting it because it’s not controlled by any centralized form of government, who can mint more when they feel like it. It need not have stability to see adoption… merchants are PERFECTLY HAPPY with a currency that continues to appreciate in value over time.
[quote]
No one would want to purchase goods or services with currency that bounces around ±10-15 % everyday.
[/quote]And… yet they do every day. To the tune of several million dollars worth a day. This is just demonstrably false.
[quote]
Bitcoin = 1000$ = 1 oz gold or any kind of asset. Oil / Gas / Metal
Litecoin = 250$ = 1 bitcoin
Feather = 62,5$ = 1 bitcoin
[/quote]These are just arbitrary numbers you made up.
Let’s look at some real fundamentals.
The world’s GDP is about 75 trillion. If Bitcoins represented 1% of the world’s transactions, then 1 Bitcoin would need to be worth over $230,000. Let’s say that there’s a 10% chance of that actually happening. That gives us a risk adjusted price of $23,000 dollars for one Bitcoin.
[quote]
Or something down that road. If you don`t then whom would really want to buy and sell stuff.
[/quote]Right. Did you hear that everyone? No one wants to buy and sell stuff using a currency that is deflationary, uncounterfeitable, un-reversable, and can be sent to anywhere in seconds. Pack up your stuff, and go home. Party is over. :o
[quote]
By doing that one would bring real value to the alt coins, one would bring some stability and mining profitability would be easier to calculate for coin manufactors like us.
[/quote]Real value is fundamental and intrinsic in the nature of the network, the blockchain, the public ledger, and the proof of work verification and generation system. One need look no further to find real value.
[quote]
And finally no one sells with a loss. ? Did you ever try to invest in the stockmarket. Sometimes you really don`t have a choice.
[/quote]You bet people sell at a loss!!! That’s NOT how ponzi schemes work. No one holds a gun to anyone’s head and say, “You don’t have a choice.” People do have a choice, and they choose to sell at a loss. Those who choose differently are rewarded.
[quote]
All this would just make the coins more attractive, not less.
[/quote]Attractive to who exactly? I LOVE that my currency appreciates over time. This is in fact a MAJOR selling point for almost everyone. You take that away, you go back to fiat and hyper-inflation. No thank you!
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I’m gonna walk away now… I will admit outright that we all love having lot’s of money but no price can be placed on investing in a future where private organisations [i]dont[/i] control the flow of money.
Stop thinking about profit. Let the price fluctuate. THIS IS A SOCIAL EXPERIMENT. (I feel real nasty for using caps but I’m damn sorry guys…)
[quote name=“mmyhre” post=“44930” timestamp=“1387187201”]
The questions becomes how to make crypto attractive and useful.
[/quote]They are attractive because of how potentially useful they will be… If not semi all ready… Granted thing’s aren’t set up but I’m gonna bring out me harp…
Experimental Network = Needs Time to Develop…
This is beyond money. Forget money… If you want money, go elsewhere. If you want to put your money and reputation on the line for something you beleive in, then go for it. We’re all here cause we are sick of not having control of our own… Fiat does not belong to us. It belongs to big business and government and a handful of very connected individuals…
[me=Calem]steps of the soapbox.[/me]
I might re organise this post in the morning because I think that last glass of Merlot has gotten to me… But yeah… It just bugs me. We all want to live easier but at who’s cost hrm?
[i]edits in italics… sure glad i read through my posts after publishing em’[/i]
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Merchants and consumers are adopting it because it’s not controlled by any centralized form of government, who can mint more when they feel like it. It need not have stability to see adoption… merchants are PERFECTLY HAPPY with a currency that continues to appreciate in value over time.
[quote]
When value goes up everybody is happy. However that`s not the case the other way around. That`s where stability comes in. And that is a good thing even if it takes the fun out from appreciations of 300 % a year etc, it also protects against it.
As a merchant stability is important number 1 even if you disagree upon that.
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I think you got your quoting bbcode mixed up…
The price will settle in time. For now. Stores can exchange that accepted crypto instantly for fiat at the spot price. Problem solved.
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[quote name=“mmyhre” post=“44903” timestamp=“1387182447”]
The problem for alt coins is that there is no real use for them yet except being a fake store of value ( the greater fool theory ). Unlike fiat you still cannot buy a house, pay taxes nor do anything with alt coins except gamble, buy hookers, drugs and other things ordinary people dont really need. ( Yeah i know there is much more, but you get the picture)
[/quote]
I’m surprised to hear you state this. People are buying goods with these coins already. A guy bought a tesla with bitcoin, and there’s also this: ([url=http://thenextweb.com/shareables/2013/10/29/title/#]http://thenextweb.com/shareables/2013/10/29/title/#!p0gXm[/url]). He could quite easily have paid his taxes.Also, the ponzi agrument is always rolled out by people who’ve only just skimmed over what cryptocurrencies are all about. There is absolutely nothing on this planet of inherent value. Value is purely a perception based concept. Even trust itself is only a perceived value judgement.
So what are your feelings on Quantative Easing?
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[quote name=“mmyhre” post=“44947” timestamp=“1387190099”]
Merchants and consumers are adopting it because it’s not controlled by any centralized form of government, who can mint more when they feel like it. It need not have stability to see adoption… merchants are PERFECTLY HAPPY with a currency that continues to appreciate in value over time.
When value goes up everybody is happy. However that`s not the case the other way around. That`s where stability comes in. And that is a good thing even if it takes the fun out from appreciations of 300 % a year etc, it also protects against it.
As a merchant stability is important number 1 even if you disagree upon that.
[/quote]But if it only goes up over the long term, everyone is happy.
To date, that’s exactly what they’re all done: Gained value against the USD. And they will continue to do so. There is no down side here long term. There’s just impatient people who get scared and convert back to an inflationary currency, and lose their value in doing so.
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I think the FTC is the world’s personal settlement currency. It has some risks, But this is the integration of world trade trends, we need a global currency. OK , Certainly not dollars ;)
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Think I am going to go and buy some more FTC right now !
:-*
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But if it only goes up over the long term, everyone is happy.
To date, that’s exactly what they’re all done: Gained value against the USD. And they will continue to do so. There is no down side here long term. There’s just impatient people who get scared and convert back to an inflationary currency, and lose their value in doing so.
[/quote]That is a bold statement Kevlar.
Anyways for the time being i am happy that the price of feather coins have dropped 70 % in value in less than half a month. Difficulty not to high and i get more coins.
I think feather coins will be a great investment long term, but if it turns shit, well that`s the risk i choose.
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However if you want to make a change, then use FTC as much as you can, buy whatever you can with it and invest time in the community to make it grow. There might come a day where you can buy and sell everything you need to live on just based on Crypto barely using Fiat. A bit like the “Good Life” but with Crypto.
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This has gone way off topic…
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[quote]
[quote name=“mmyhre” post=“44973” timestamp=“1387193414”]But if it only goes up over the long term, everyone is happy.
To date, that’s exactly what they’re all done: Gained value against the USD. And they will continue to do so. There is no down side here long term. There’s just impatient people who get scared and convert back to an inflationary currency, and lose their value in doing so.
[/quote]That is a bold statement Kevlar.
Anyways for the time being i am happy that the price of feather coins have dropped 70 % in value in less than half a month. Difficulty not to high and i get more coins.
I think feather coins will be a great investment long term, but if it turns shit, well that`s the risk i choose.
[/quote]It’s not bold, it’s easy to assess. Look at the trends. Look at the charts. Look at the fundamentals. These statements are easily verified. People are converting their fiat to crypto-currencies at an accelerating rate. This trend has no reason to slow down, and it’s a matter 3-6 months before Wall Street gets in on the game and starts pushing the value through the roof.
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Look at how the quoting bbcode has been skewed…
[i]edit[/i]
Nevermind.
Kevlar fixed it…
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[quote]It’s not bold, it’s easy to assess. Look at the trends. Look at the charts. Look at the fundamentals. These statements are easily verified. People are converting their fiat to crypto-currencies at an accelerating rate. This trend has no reason to slow down, and it’s a matter 3-6 months before Wall Street gets in on the game and starts pushing the value through the roof.[/quote]
Well time will tell.
Personally i would prefer to have the wall street scum out of the market. They are the bugs of the world and they don`t do charity.
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Question ???
FTC has now been around for 8 months …
At the moment it seems to of settled at around 25-30p each. So where do you guys think it will be come August 2014 in another 8 months ???
Thanks
(I know you are not guru’s lol, but I am interested in everyones differing opinions)
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in my opinion whats make the value of the Feathercoin is the cohesion and the strength of the community attached to it .
the stronger the better,thanks
6zPyuXPPXv5e1WMHMWo3xjW7d48Ucv7zbc
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We need a whole section dedicated to this topic…
To be honest, I would have this shifted to a new childboard inside General Discussion called Price Speculation.
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[quote name=“Tuck Fheman” post=“44924” timestamp=“1387186106”]
[threadjack]This reminds me … when’s Zerocoin Protocol coin coming out?[/threadjack]
:o
[/quote]Just so new members know, “Off Topic threads” are against “forum rules”, but there is a slight connection, so I will not report it this time.
Zerocoin will come out when a few people get of their ar"e and help the developers get it going. Personally, the quicker the better and as an add-on to any coin, Like Kevlars development is going, but we are rushed of our feet here doing more than our job already …
If some one wants to ignore 6 months of posts threads and PhD level arguments on the best way to start a new currency, let them.
Feathercoin needs the members who GET IT NOW, so we can accelerate the deployment (note, not the awareness!)…
Support the Zerocoin format, just like the active “community” does at Feathercoin to “Develop the Feathercoin network, support new miners and wallet holders”…
I personally have watched the Zerocoin presentations on you tube and seen the Alpha software. You could you start it’s own thread, so members can keep up on Zerocoin developments Tuck? …
ie [b]Zerocoin Protocol development reports[/b]
[url=http://www.youtube.com/watch?v=A7rnE9nqhic#ws]Bitcoin 2013 conference - Ian Miers - Zerocoin - A New Anonymous eCash Extension for Bitcoin[/url]
[url=http://zerocoin.org/]http://zerocoin.org/[/url]
[url=http://www.reddit.com/r/ZeroCoin]http://www.reddit.com/r/ZeroCoin[/url]
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[quote name=“wrapper0feather” post=“45003” timestamp=“1387200203”]
I personally have watched the Zerocoin presentations on you tube and seen the Alpha software. You could you start it’s own thread, so members can keep up on Zerocoin developments Tuck? …ie [b]Zerocoin Protocol development reports[/b]
[url=http://www.youtube.com/watch?v=A7rnE9nqhic#ws]Bitcoin 2013 conference - Ian Miers - Zerocoin - A New Anonymous eCash Extension for Bitcoin[/url]
[url=http://zerocoin.org/]http://zerocoin.org/[/url]
[url=http://www.reddit.com/r/ZeroCoin]http://www.reddit.com/r/ZeroCoin[/url]
[/quote]I would sub to notify that in an instant.
Having a Zerocoin development updates and discussion section would be awesome. I know very little about it and have not really set aside time to check it out thoroughly. All I know is that it’s an anonymising add on for crypto coins. And it’s been developed by a group basically all from the same University.
But yeah, getting away from price speculation, I would love to see Zerocoin have it’s own place here on the Feathercoin Forums.
(And also maybe a place solely for price speculation. It does seem to have a few threads going all at the same time.)
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This is true for any currency or any item. Im sure a glass of water here in Missouri where we get lots of rain, have people who get water from undergrounds springs and lots of rivers would sell for $0. Now im sure that same glass of water offered to someone where its a arid dry place would gladly offer $$$$ for it. Point is in my noobish opinion everything has as much value as much faith people put into it or how bad they want it to create demand.
[quote name=“mmyhre” post=“44903” timestamp=“1387182447”]
0 = ZeroFor all people reading this it is important to know that. No matter how much i personally love alt coins it be bitcoins or feathercoins the real value is 0. You can however say the same for dollar, euro, pounds or what ever kind of currency out there.
The problem for alt coins is that there is no real use for them yet except being a fake store of value ( the greater fool theory ). Unlike fiat you still cannot buy a house, pay taxes nor do anything with alt coins except gamble, buy hookers, drugs and other things ordinary people dont really need. ( Yeah i know there is much more, but you get the picture)
The dollar was as known pegged to gold until early 80, and that is what needs to happen to bitcoins.
Lets play with the idea of 1 bitcoin = 1 oz gold. If that was true one could pretty easy calculate real value of alt coins by factoring in bitcoins as the value factor in the same way as dollars where for all other currencies we have today.
So is this possible ?. Maybe, but probably not.
But i love the consept of alt coins and will continue to mine simply because the idea appeals to me, however it is important to know just what alt coins is at this present day in time. Just a big currency ponzi game.
Morten
[/quote]
