You guys are fairly retarded for not buying 0xBTC right now

Are you trying to sound like the gooks with that "FOUNDATION" bullshit. Go kys you faggot

Sure. The purpose of 0xBitcoin is the same as the purposes of BTC and BCH. To act as a decentralized, non-Fed controlled currency and store of value. Ethereum is a huge network that is only expected to grow with time and scaling implementation. Ether has acted as the de facto store of value and currency on Ethereum, but it has flaws stemming from both its centralized distribution at creation (with an ICO) and expected shortfalls in the fairness of distribution (when Ether becomes minted through Proof of Stake). 0xBTC fulfills the values present in the Nakamoto original whitepaper as a fully mineable decentralized currency without ICO, premine, or founder's reward. Thus, by buying 0xBTC you are essentially betting that part of Ethereum's large and growing network value will transition to a pure mined currency more like BTC and less like Ether.

And faucets aren't PoW in the same way since they can be gamed by bot farms. PoW is supposed to cost money, that's by design. You can use multiple addresses and bot farms to rape the hell out of faucets. Also I doubt any faucet distribution system to date on Ethereum has implemented difficulty adjustments either. Mining can't be gamed and is the fairest distributional method we have to date, until you can solve the 1 person 1 vote dillema (which is impossible to solve without cryptographic ID's assigned centrally).

Ah, the personal attacks on literal randos from a public forum. Classic high quality FUD. The guy you listed as the developer was literally not even involved in the creation of 0xBTC.

Good evolution from calling everyone "pajeet", FUD game is getting stronger by the minute

Just answer me something: What is the utility of this token?

Literal newfag as you taking it as personal attack. Kys. I feel so sad for you faggots as I am not sure are you this delusional or what it is

See

stop clogging the network with your bull shit token. raises the gas price for everyone

It's an attack on a person or personality online, not me, aka a character attack. Forgive my wording... My point was that you're circulating a stale image from a public forum of random people instead of saying anything about the merits of the tech.

>faucets aren't PoW in the same way since they can be gamed by bot farms
i don't see how that is any different from a gpu farm claiming all the 0xBTC tokens? is that fair?

for a faucet, the bot farm had to put in the exact same fee/work as me (send a tx) so is 100% fair.

your work favours people with more gpu equipment, how is that any different from proof of stake? you're staking your advantage in hash power for tokens.

proof of stake is fair, and anyone without a gpu-rig (99% of 0xBTC community) can see this, why do we need the extra steps?

*unlike 99%

It's more fair since GPU mining's primary cost is electricity, which needs to constantly be expended. Mining is designed to be expensive so that at equilibrium miners make minimal profit after their costs.

In your faucet example, how would you distribute 21 million tokens? If the token is worth more than the gas cost, then a bot farm will just send thousands of transactions. Instead of electricity being the limiting factor it's gas costs. You understand why it would be a hugely idiotic system to have a token be minted in this way, right? Success for the token would have to be accompanied by crippling the very network it is trying to become a staple of.

I'm not claiming GPU mining is the "fairest" distribution system, I'm just claiming that it is the fairest decentralized system that can't be gamed. You can fake an IP, you can fake 100,000 wallets, you can fake clicks per second, but you can't fake hashing power. You either paid the power bill for it or you didn't.

PoS is secure and maybe fair-ish, but you also can't get to a PoS based system until you have some distributional system to begin with. I'd argue that it's not fair for a currency to reward existing holders with more of the currency for no reason. PoS requires people to want to stake, and to do that you'll need an incentive annual return. I do not think there exists a balance that gives both enough to incentivize staking but also not enough for it to be an unfair inflationary asset.

>the token is worth more than the gas cost, then a bot farm will just send thousands of transaction

the point is the token is only worth as much as people will pay, which I assume is next to zero for a faucet token, however whoever is willing to do the tx fee gets the token, 100% fairly. if they want to take a loss by botting it they can, fairly.

it's sorta the same with 0xbtc, you took a loss mining it at the beginning. however not fairly as some users got more than others using the same electricity wattage.

(and now in order to make money on your 0xbtc you have to convince others that pow is fairer than pos) which I do not agree with.

again:
>you can't get to a **PoW** based system until you have some distribution system to begin with.
you all had to pay $ for your gpu's, some paid 0.1% of their salary/assets, some paid 50% of their salary/assets, is that fair?

pow is just pos in disguise. your token is a gimmick, i'm not 100% disregarding it, since pow is relatively well-regarded in crypto, however pos will take it's place on ethereum and over time who knows..

With your faucet system the issue is that the token can never appreciate in value on the Ethereum network since gas prices would have to appreciate in like. It really makes no sense (but I think we're both in agreement on that).

Again, I am not arguing the PoW is THE FAIREST POSSIBLE SYSTEM. I'm just saying it's the fairest one we have right now for the continual distribution of assets. On day 1 of the 0xBTC contract, if it were PoS secured, how would the very first tokens be minted? You can't run a PoS system from the start. A currency needs support behind it and people committed to using it as a store of value. Only PoW distribution achieves this in a decentralized way, and only mining PoW (instead of faucet PoW) makes sense for an ERC20 token residing on the Ethereum network. I think PoW is well regarded for good reason, and I think that people will come to see it as the best option for a store of value (or even an alternate store of value) on Ethereum in the coming 2 years. And you know your shit clearly, so I think you also realize 2.5mil market cap for a coin with so much potential gives the best risk/reward ratio in all of crypto right now.

"buy my bags"

NO FAGGOT

Is this an actually insightful debate on Jow Forums? Get the fuck off my board both of you

Eth is a dying platform.

Get out of your online bubble; ETH is the only smart contract platform western developers and companies will even consider for years to come.