Value of feathercoin or any other coins for that matter is
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Gold is worthless to me…
Let me say that to start with…
Second… I’m not sure I’m following what’s going on in this conversation…
But yeah… It only takes one smart business like person in my country to set up a system where they accept crypto’s then trade them instantly for there spot price, then use that equivalent value to BPay for me… Then I can pay all my bills with crypto’s…
If I could just be ignorant or whatever and say this as a final response to whatever the heck is going on in this thread…
The time, fiat, electricity and energy put into setting up the coin, market, mining rigs and philosophy is what gives the individual coin it’s value in regards to been able to trade it for your bread, milk, cars and other things like paying your bills… (namely electricity is the big one for people just trying to make a fiat profit)
What has all ready been invested, is what gives it it’s value.
Take in mind that your either in it for fiat profit or wanting to change the world… If you want to change the world, then fiat profit is the least of your concern…
Time and time again, in recent history, large amounts of fiat money hasn’t been able to dramatically alter the course of civilization for the best.
But yeah… grain of salt. my opinion only. disclaimer etcetcetc.
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[threadjack]This reminds me … when’s Zerocoin Protocol coin coming out?[/threadjack]
:o
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[quote name=“dmrkrc” post=“44917” timestamp=“1387184170”]
…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…
[/quote]If that’s the case… why would we want crypto’s to be pegged [i]to[/i] gold?
[i]edit in italics[/i]
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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]They’ve released an alpha. It’s ready for implimentation at a testing level to anycoin willing to give it a crack. That’s about all I know.
[url=http://zerocoin.org/]http://zerocoin.org/[/url]
[quote]We have released an alpha version of libzerocoin, a library suitable for integration into Bitcoin clients. See software.We still need to:
Continue to improve the library.
Provide a BIP style specification of the Zerocoin protocol
Get someone integrate it into bitcoin/litecoin/*coin
[/quote] -
Quite a few of these posts springing up. However never backed up with any research or evidence, but its always nice to read the friendly responses which contain great information :)
Of course there is risk, you can mine the coin as a low risk investment as the cost of electricity. After 4 hours of mining I purchased something worth $20 on the market place here at Feathercoin.com. Cost of electricity was less than $1 or $2.
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[quote name=“dmrkrc” post=“44917” timestamp=“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.
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.
No one would want to purchase goods or services with currency that bounces around ±10-15 % everyday.
Bitcoin = 1000$ = 1 oz gold or any kind of asset. Oil / Gas / Metal
Litecoin = 250$ = 1 bitcoin
Feather = 62,5$ = 1 bitcoinOr something down that road. If you don`t then whom would really want to buy and sell stuff.
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.
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.
All this would just make the coins more attractive, not less.
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[quote name=“Glads” post=“44928” timestamp=“1387186452”]
Quite a few of these posts springing up. However never backed up with any research or evidence, but its always nice to read the friendly responses which contain great information :)Of course there is risk, you can mine the coin as a low risk investment as the cost of electricity. Even someone getting into mining now you can see reward straight away, after 4 hours of mining I purchased something worth $20 on the market place here at Feathercoin.com. Cost of electricity was less than $1 or $2.
I think you will generally find a lot of cautious members here, there’s no case I am aware of people investing anymore than the high risk section of their financial portfolio (
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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…
