Orange Pill: 0xBTC is the first POW token on Ethereum blockchain. It combines the advantages of Bitcoin and Ethereum without their short comings.
Bitcoin properties > POW as fair distribution, no ICO > 21million cap gives store of value
Ethereum properties > same level of security and block time as Ethereum blockchain > ERC-20 token interact better with other tokens than Ether (ETH) > upgradable using smart contract
Recent and future development > lava token: allow transfer of any ERC-20 tokens without holding ETH for gas fee > zk-0xbtc: zero knowledge proof version of 0xBTC
So how early are we on this? Is economic abstraction on Ethereum a solid idea for 0xBTC?
I wouldn't use the volume as any kind of indicator of anything. 0xBTC has the good/bad luck of mostly being traded on Mercatox, where the volume isn't just "a lot" or "mostly" wash trading, we're talking literally >99% wash trading. Maybe that will make the coin look more attractive too newfags and idiots, but it's not an indication of any actual trading. Actual trading does occur (I watch the Mercatox order book) but there are on periods and off periods, and recently there hasn't been much. I think over the long run it will gradually increase, but still have active periods and dead periods for a while.
Brayden Sanders
Brainlet here, what does that mean?
Cooper Peterson
it means no.
Caleb Gray
He's saying that using tokens in place of ETH is a bad idea because it creates issues of liquidity and price manipulation of potentially illiquid tokens. It's a legitimate concern. I hear people talking about things like "automated token swaps" and basically going around assuming that you can just exchange one token for another or for ETH and it's just like passing a token to a function as an input and getting another token as an output. This seems laughably naive to me on the surface, because it ignores the realities of the underlying market and liquidity, a classic example of a "leaky abstraction". But I also don't want to just dismiss the idea outright because it's never a good idea to just assume something can't be done in some reasonable way if people think about it carefully and build good products around it.
Gabriel Cook
Vitalik also said Ether's price can be an economic deterrent to prevent attack on future POS system. That's why I'm curious to see 0xBTC's role in POS Ethereum system if 0xBTC turns out to be sucessful. I think we might see Ethereum keeping it's inflation as some form of "interest rate" for all stakers.
0xBTC can perhaps abstract on that with extendable functionality and fixed supply?
Liam Gonzalez
Literally anything could happen with ETH and Ethereum itself. The devs can change anything anytime, and to the degree that they can't it's because of some complicated politics that will end up producing some other unexpected outcome. In the unlikely even that 0xBTC becomes massively successful, they could use that in some way as a means of deterring attacks on a proof of stake system just as well as they could use a high price of ETH. But there's no need to speculate about outlandish scenarios when the mere fact that ETH could undergo any kind of change at any time at the discretion of the devs is already a good enough reason to think that an immutable currency would be better. Actual immutability is a surprisingly rare property in the crypto space, and you'd think that would be something people would find important for something that's supposed to be a commodity or store of value or whatever.
Ryan Rogers
How much have you lost on this shitcoin?
Carter Gomez
Nothing yet, I'm a bit above breakeven right now. But there's still plenty of time for that
Sebastian Ramirez
Hahahaha, everytime i read a 0xbtc thread, i know it recently dumped. 0xbitcoiners on suicide watch
James Rivera
How can ERC 20 token deter attacks on proof of stake Ethereum?
I agree on the immutable part. Especially after cz proposing a bail out on BTC.
Ryan Wilson
0xBTC will die as ETH 2.0 is a complete new chain
Levi Jones
Jesus christ imagine being active at the literal bottom of the next crytpo cycle and BUYING FUCKING 0XBITCOIN I don't even want to think of the misery that's in store for you. May god have mercy on your soul.
Levi Miller
Have you got your suicide insurance?
Joshua Rodriguez
All proof of stake is, is just the idea of having people store something that has market value in the system, and lose some part of it if they act in some malicious way. If they want to use an ERC20 token as part of that in some way, that's not some kind of impossible feat of engineering. I'm sure there are plenty of problems they'd have to solve, but at the end of the day all this stuff is is some cryptographic keys with perceived monetary value. You can do whatever you want with that if you're the devs.
Oliver Nguyen
Thanks, let's talk again in a couple of years, I collect tears and salt as a hobby
Blake Kelly
Thanks toast, I guess I'm not knowledgeable to understand this part.
Aiden Jackson
I'm not the developer, user. I'm just a richfag who buys shitcoins and recently bought some of these.
Brody Peterson
LoL, you sure did your due diligence. Want to share what other coins you're holding?
David King
50/50 bitconnect and req
Jaxson Hall
Sorry, I don't give out any info about what I trade. Just here to add to the discussion a bit so that maybe someone who's only seen the weird fud Jow Forums generates about this coin decides to look into it a bit.
Ryder Kelly
If I want ERC-20 compatibility, why shouldn't I just use WETH (wapper Ether)?
Aaron Gray
>weird fud
Matthew Long
That'll work, and Dai too 0xBTC still has the fair distribution property even though I don't know how valuable that is
Hunter Green
Because WETH is a proxy for ETH, and 0xBTC isn't ETH but an entirely different currency with features you don't find in ETH. The feature I like most and I think is more important than any other difference, is the immutability. The weirdness of the 0xBTC fud on Jow Forums is rivaled only by the gayness of the LINK shilling. The pajeets, the "secret premine", the "ETH 2.0 will break it and nobody can possibly do anything about that". Remember Judge Doom? It's weird as hell and you know it.
Noah Gonzalez
The fudders are accumulating
Xavier Carter
Why wouldn't this moon in a bull Same name as Bitcoin, which normie love. Low cap so can induce fomo. Currency based coin with no leaders who can exit scam, therefore makes it safe in that regard. What other low cap alts beat this? Only problem is mercatox is a trash tier exchange, which is a big one. If we were on binance I'd guarantee a good boost, although this coin is similar to Raiblocks. Raiblocks was also only accessible on a shit exchange. The coin has no miner fee to send, that alone makes it King.
Leo Adams
One of the most pointless coins in crypto. Miner pnd, left deluded bagholders in their wake. I feel bad for people who actually hold this. Pro tip: anybody can make this shit rather easily. Fucktards kek
Gavin Garcia
ETH is already a disadvantage kek
Jace Wilson
Surely most cryptos publish public code. Anyone can just copy and paste the code, by forking the token. Any ICO this applies to. The reason it doesn't work for currency is because of the brand. Sure binance copy and pasted eth, still means eth has value.
Asher Perry
And that 3M chart? fucking Kek who really still believes in this I am fucking laughing out loud rn
Samuel Hall
I still have 1.5k of these curry lathered shitcoins. I might buy another 1k. Just in case.
Connor Williams
I mean with the other alts, bad news can come out to crash the price. But with this, that doesn't exist. However I understand that good news is difficult to come from the coin since new developments aren't coming. Aside from increase in adoption perhaps.
Inflation, because this mimics BTC's white paper, the first few years inflation will destroy any short term profits. That being said this could do 1000x long term.
>new developments aren't coming I think the idea of 1:1 swaps between new kinds of tokens and 0xBTC, as the developer did with LAVA, is a really good idea. You get an immutable base currency, while anyone can create any extension to the token by creating their own version that's pegged 1:1 to the original. It seems trivial because it doesn't require any complex software engineering, but I think it's a really big deal. For example, if you look at it from an economic perspective, all it takes to drive demand for 0xBTC is for someone to create some dapp that requires staking of a new token that's on a 1:1 peg with 0xBTC. There's only so many altcoins for which you can say that any random person on the internet can earn money for themselves with a crypto project in a way that directly creates new demand for the underlying coin.
Carson Kelly
The wash trading is done by Mercatox because they are the biggest miners of 0xBTC
Ian Harris
True, the rapid minting of new coins damages the value the most. how many new coins are mined each month?
Hunter Cooper
The main reason I'm bullish is because it's fairly low cap, with no exit scam possibility. Most of the other low caps are fucking gambles, the team could exit scam next week. And in fact as we know by now it's only a matter of time until they do.
Mason Phillips
>The weirdness of the 0xBTC fud on Jow Forums is rivaled only by the gayness of the LINK shilling If you are truly holding 0xbtc I BEG you not to buy chainlink. The stink of your curry farts would ruin the yacht party.
Joseph Turner
WHEN ZK0XBITCOIN INFERNAL FAGGOT
Jace Brooks
oh good, i was worried we wouldn't get one of these this thread. thank you
Justin Gray
I hold 18k LINK as a suicide prevention bag. The air of actual unironic psychosis among linkfags here prevented me from buying a bit more, even though it seems like a good project overall. Feels good to know I'll make a good profit if your retarded shitcoin somehow breaks $100 against all odds.