Why does 0xbtc need to be mineable? etherium networth is already secure
Why does 0xbtc need to be mineable? etherium networth is already secure
Connor Lewis
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John Cox
why do you shit in streets?
Joshua Long
I'm not shilling, I want to know how a mineable token on a secure network is useful.
Owen Baker
something something distribution or whatever
David Taylor
It's not
Jose Martinez
>Pajeets claimed that the shit you dig up while mining it has magical powers and will make you rich
>Pajeets than said that since everyone was allowed to dig at the same time this would not make it a fraud anymore but totaly fair and honest.
It was just a stupid selling point. Thats it.
Cooper Green
how is fair distribution useful? It won't stop miners from dumping it down to 0$
Carson Perez
Right, it just makes it more difficult to be dumped to 0 because many people who have dedicated time and machine power have to collectively dump instead of just the devs or pre-ico buyers or regular ico buyers or angel investors. Not enough to Drive a project like this by itself though so yeah maymay distribution
Anthony Thomas
Fair distrubution is optimal mathematically for an enduring network.
Ethashing as a method of distribution is not optimal, as a store of value like 0xBtc.
The Eth layer as Vitalik regularly chimes is not intended programmatically to be a store of value. It works better when fees are lower and most work does not need write to the main chain. Merely mining transactions is boring.
0xBtc is pulled up by the hashpower of Eth, pulling up from your own bootstraps is how to endure endless network security problems.
Easton Brown
Why does it need to exist? What's the point?
Henry Powell
Check'd and kek'd.
Christopher Powell
Idk I've always been on the fence with this shit. It's not an outright scam but it really doesnt seem to be needed, right now that is. The only real plus to it is that it has an answer to the end game of btc. The power consumption to maintain the network in 10-20 years might be pretty insane. That coupled with the questionable equilibrium it will need to achieve between network usage and tx fees once mining stops in order to keep miners around. But this wont be a problem that concerns most people for at least a decade. Long time for something like 0xbtc to try and stay relevant.
Connor Turner
Because it's going to be an ETH pair and it satisfies fair distribution to replace bitshit and the false narrative of "store of value" (it's the only false defense they have, since Ethereum has many tokens, such as 0xBTC, that are better stores of value because it's built atop technology that isn't stagnated and can scale into the future).
Robert Hernandez
it is mineable to make me rich
Chase Richardson
Blake James
Compared too.
I think it's pretty obvious.
Michael Gray
bump 4 vitalik tweet
Jacob Gonzalez
Also bumping to add this Vlad Zamfir tweet.
Human-centric distribution is dumb for a currency and store of value. Why would you trust a central entity to distribute a currency? It makes no sense. Another thing that makes no sense for a currency is gaining interest on staked money. That's just free Ether for anyone who already has a lot of Ether.
Listen, the fact is that nobody who works on Ethereum actually thinks Ether is a good currency or store of value. In the coming months more and more people are going to wake up to this fact. More and more people will question the legitimacy of holding for value any token that is not distributed fairly based on resources spent. And by getting in the game early, 0xBTC positions itself as the prime alternative store of value on Ethereum.
Thomas Moore
Because look what happens when you don't mine your tokens compared to when you do
Joshua Hall
Other anons have answered this already, but it all stems from the idea that PoW is the most fair way to distribute a currency. The fact that you have to expend resources to mint tokens is significantly more compelling, in my opinion, than a guy creating a coin, doing a mass sale for profit, then keeping a significant percentage of the token. The reason Bitcoin is the #1 cryptocurrency right now is because it is the most compelling store of value in crypto; un-gameable distribution is the reason it has persisted.