Redpilled me on FLO

Redpilled me on FLO

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uff that pic is kinda offensive don't you think?

yfw the live footage shows the plane going all the way though the building still in one piece

It is a Bitcoin/Litecoin clone with a flodata field. It was picked up by T-Zero and has been used by them and one of their subsidiaries to store information on the blockchain.

it is a very efficient system with cheap transactions and extremely low cost for storing information. As such there is not much if anything to be gained by buying it. The recent increase in price was due to uninformed hype about the launch of T-Zero and a shill campaign but as I said before it has been in use for months and stayed at a low price point for a reason. The reason it was selected by a serious company was that it will never become expensive barring extreme speculation and even then the costs are so low they have a stockpile which would last them decades without needs to buy more.

In less than a week T-Zero will launch and it might pump a little bit more based on uninformed hype but once the truth of the situation sets in it will dump as T-Zero launching officially changes nothing since they have bee using FLO for quite a while now.

It is one of the first successful implementations of blockchain that will be used at a high level and for the purpose that blockchain was originally envisioned. But holding it will do nothing for your portfolio except possibly a slight bump because of speculation.

how can you be offended by a meme

AP planes

(((You))) NIGGERKIKE

Scam

I redpilled you on FLO but I guess you wanted someone to shill it to you because you are a FLO shill. Not for someone to break down what it does and why exactly it is worthless.

You're retarded

The FLO blockchain can store 1040 bytes of data per transaction. This means more than 2GB of data per day at full capacity. It costs money to store & serve data, therefore as more people start using the network, the fees will go up, driving up demand for the token, which in time will bring us the Big Mac parity, as foretold by the prophecy

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Go back

This faggot who keeps posting about how FLO is worthless is being disingenuous. Tzero isn't the only thing going on for FLO, it's just one of the MANY
things going on. Imo OIP will be way bigger for FLO than Tzero IF it gets widely adopted, and seeing how censorship is becoming a HUGE issue I think it's
a pretty decent gamble for how cheap this shit is

That isn't how anything works retard. The cost of serving up data has nothing to do with FLO as reading the chain doesn't have a cost. The storage cost is already covered by the minuscule amount of FLO. At maximum capacity the price won't change nor will the fees cost more as block times are virtually unimportant when storing historic information.

You have zero points and are just copy and pasting your shill garbage.

the pump and dump pajeets are back at it

It is a scam.
A ponzi scheme.

>Back at it
This has been non-stop for weeks.

FLO is getting delisted from Bittrex in a couple of weeks.

>low cost
>not much gained by buying it
>fees drive demand
You're both fucking retarded. Buying FLO to pay miners' fees so that the miner can get the FLO then immediately sell it does not cause a change in price of FLO because this literally describes a zero sum game. Likewise, low fee transactions does not mean the FLO price should be low because buying FLO to pay the fee does not increase the price of FLO. The miners immediately sell the FLO they receive for USD because they are mining to earn a profit, they are not mining to hold FLO. Otherwise they would just buy it on the market.
You fucking idiots.

uff now that's a big yikes from me, sweetie. still upvoted and subscribed.

Funny how you don't have a source for this.

The same could be argued for Monero, and it has a market cap of just over $800M even though it's only really useful for buying "stuff" on the dark web. Increased use equals increased market cap.

I disagree. I would use Monero as a store of value (long-term hold) if I were, for example, getting married.

Maybe over the very long term, but for 2018 it would have been cheaper to just lose half your shit in the divorce!
My point is that people buy Monero, transact it for physical goods, then the deale- I mean vender, trades the Monero for BTC and then FIAT so he can rebuy from HIS supplier and pocket some profit. You would think that the price of Monero wouldn't matter as long as it's relatively stable, it still does its job at $7 or $500, but the more it is used, the more the price happens to increase, as will happen with FLO.

But you can't buy anything with FLO

I didn't say buy, I said use.

>maybe over the very long term
I agree with you here.
>the more it is used, the more the price happens to increase
Sure, assuming this is true, what is the optimal price-point for fees on the FLO blockchain? Let's say FLO is 5% above the 1MB per block every 40 seconds capacity, and fees are 1 FLO per tx because people are clamoring for block space. Is 1 FLO per tx too high or too low? Should the FLO developers increase the block size to allow more lower-cost transactions, or should they keep the blocksize small to target a certain standard fee? Certainly a 10,000 FLO fee would be too high and no one would use the network. What's the optimal fee structure?
FLO buys you space in the FLO blockchain for storing metadata. If you agree with the usage=value theory then it follows that you would agree FLO is valuable for storing metadata in a permissionless public record. FLO will also buy you digital goods when Alexandria and other OIP apps launch.

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But using Monero is as a currency, Flo is used for storing arbitrary data. Will it really be able to get to $20 like that? I really like OIP and all the shit they are building on top of it, and feel this is antshares all over again, but antshares went really high in a big bull run, while we are bear

What does neo even do again? Pretty much nothing. This whole market is a farce, if you can find something with even a little bit of actual utility it will be given far beyond what it "should" be.
I thought Bitcoin couldn't possibly have value back when I heard about it in 2009, I still think it's fundamentally flawed on an economic level, but the market disagreed. It might seem like FLO will not have much value because it is so cost efficient at what it does, but that is exactly what will end up giving it value.