I don't understand, is this a legit coin?
0xbtc...is this a biz meme or what?
Jace Cook
Other urls found in this thread:
Lincoln Martinez
Think about it OP, this coin is a fun experiment but it is USELESS. Proof of Work is about protecting a network with hashrate, this token relies entirely on Ethereum for consensus, PoW is only used for issuance. This is a pajeet scam that was heavily premined on GPUs when the difficulty was low and then shilled here relentlessly by discord street shitters. Don't fall for it.
Jose Baker
It's so legit that we're tired of shilling it. If you want in depth technical discussion of why it's so fundamentally sound, use warosu. Right now the token contract is minting a crazy amount of tokens but in a few years it will be worth a lot
Camden Gray
(You)
Jace Bell
This
Jack Parker
Can't be much more legit than 0xbtc
Brandon Roberts
Mostly meme because the big boys, btc, eth, xmr, etc are heavily working on improving transaction speeds.
Lucas Allen
it's great but Jow Forums is heavily opposed to this and prefers chainlink type scams, unironically DYOR and you will see that there is no flaw to this
Benjamin Baker
based
Jaxon Martin
Being a ERC-20 token means it can piggyback on eth's improvement right?
yeah what's the point for proof of work then?
Christopher Williams
Well there's no hidden plan or something, it's an issued contract and that's all there will be, except for the very interesting feature of lava protocol that enables added features like eth-less transactions and maybe private transactions soon.
Ayden Ortiz
>started on biz by biz
>literally started with the intention of trying to make money selling a shit token to bizzies and then redditors
>somewhere along the way some of the late comers who got left holding enormous bags and missed the memo tried to start convincing people its legitimate and in the process some of them even convinced themselves
>irrecoverable pump and dump already happened, now exclusively traded by bots and free electricity miners
You answer your own question, OP
Joseph Evans
Its shit
Eli Green
For protecting the network? What's the point of 2 PoWs if only one is used for verifying transactions?
Landon Nelson
0xbtc's pow is only for issuance to create the same tokenomics bitcoin had
Security and transactions are entirely done by the ethereum network
Justin Cook
Txn fees are part of Bitcoin's tokenomics. In fact as mining rewards decrease they will become more and more important for mining incentives.
Ian Myers
Yeah true. But since mining is not necessary to ensure 0xbtc's security there is no reason to promote mining incentive with tx fees.
As I understand it the idea of 0xbtc was entirely to recreate the bitcon protocol as close as possible on the ethereum network, nothing more. I'm also not saying it will suddenly explode or something but I think from a technical point of view it's interesting.
Gavin Edwards
Just by eth then
Benjamin Long
ETH has a fucked up distribution and was poofed into existence by monarchs, 0xBTC was not. Please think about what that means for a second.
Also Vitalik said that he wanted a SoV on Ethereum, this is fucking it. Vlad Zamfir even thinks that ETH isn't ''money'' Just look at his twitter account.
If you believe in Ethereum as a platform and not just ETH that was designed to be the gas of the network and nothing else, 0xBitcoin really makes sense.
Lucas Gonzalez
Until the core team finishes work on a lightning or 0-conf concept.
Sebastian Evans
>lightning
Centralized already
>0-conf
wtf is that?
Nicholas Roberts
>Proof of Work is about protecting a network with hashrate
Why can't it be used to avoid monarchs then? This really is the most fair way to distribute.
>Bitcoin was mined heavily by a few people for a few years, so Bitcoin was pajeet scam that was heavily premined on GPUs when the difficulty was low and then shilled here relentlessly by /g street shitters.
It sickens me how all of you are so hardwired to be in favour of monarch tokens that gets PnD'd by the teams behind it. Yeah 0xBitcoin got PnD'd although it was because of hype, something like this was bound to happen the inflation is still at 100% It was inevitable.
And all of you people claiming the devs were behind it lol fuck off as soon as the chinese came into the discord the pools got ddosed. All of this happened right before the spike.
That's my rant for all of you dense motherfuckers blinded by the -90% in your delta app. The tech will have to speak for itself...
Isaac Reed
Hmm... interesting, who's developing the tech then?
Easton Wood
Inferno faggot
Mason Perry
WHERE IS ZK0XBTC INFERNAL FAGGOT!?!?!?
Jordan Cruz
not capped at 2 megabyte blocks that core cuck vision is. seems very legit
Matthew Myers
It's the first decentralized ERC20 token. Do you think that should be worth more than $600k or not?
Gavin Moore
For an alt coin, this is one of the least scammy or sound investments.
That being said most alts that do well, perform well due to scam wash trading and illicit practices such as pump and dump.
Being a legitimate project, may actually harm 0xbtc.
Seeing as the biggest scams like Oyster Pearl and Bounty pump the most.
Blake Parker
We're gonna make it Anons
5k REPORTING IN. We should pump during the coming alt run
Nicholas Baker
I will like it if holders could debate my fud that being a legitimate project without fund raiser can harm the price, since it's difficult to pump and dump.
Jayden Roberts
cheap tokken, why nobody is buying?!???
Oliver Torres
I mean Monarchs are good, you want a large monarch to control the price so that he can pump and dump on some fools.
Joshua Rivera
lol rekted.
Isaiah Morris
the thing about not having monarchs is that anyone can pump and dump it. With a monarch, you're limited to one central entity who will do as he wishes, which is a substantial risk. Just look at Bitcoin for example, it's manipulated af, but by a whole host of various groups. It has no monarch, yet it's the dump that keeps on pumping.
Tyler Brown
Wow grag want try rock vision
Brandon Watson
So I hav done some basic research on this coin what it is planned for the future.
1.It was created by 1 guy and his brother.
2.It is the first and maybe the only mineable coin.
3.The coin is set even if the devolper dissapears.
4.The creator plans to put out a lava network this will make 0xbtc independent from etherum.
5.The lava network works by you can exchange lava to 0xbtc for no fees but not the other way around and lava will pay for the transaction fees so basically the same system as etherum but replaced with lava.
My predictions this coin has usage but right now it has been on an steady decline.
Cons
-It has ZERO marketing.
The exchanges it is listed on are supposedly decentralized but are just scams that supposedly launder money.
This has the potential if it gets marketed good and gets listed on binance to surpass 1-5eu easily. It has a working product but really nothing new.
That is the biggest flaw with it is that it is really nothing new. It is really planning to become an independent ETH but without loads of shitcoins under it.
SO again this coin can surpass 1usd easily with the right marketing which I doubt it will get.
Hunter Foster
Perhaps, the coin really depends on mass adoption.
Bentley Davis
Exactly. Right now it is being mined very hard so it is just inflating without any demand.
Adrian Taylor
Lava is already live, you can atomically swap 0xBTC into LAVA and then send LAVA without any ETH. relay.0xbtc.io
And I wouldn't say that it's nothing new. It's the first PoW currency that is immune to targeted 51% attacks. It's the only currency that has a 15 minute blocktime, but at the same time can be sent in 10 seconds. It's the only PoW currency that will not be in danger of collapsing when the block rewards get too low, because it can survive without miners and then continue being mined when the price rises to economically reasonable levels. It's the only ERC20 that did not start out with its whole supply in the hands of one guy. It's Bitcoin on Ethereum.
Angel Wilson
Wow.
I might even buy it
Aiden Perez
Yeah, an advantage of premined pump and dump shitcoins is that the """dev""" has a huge incentive to pump the price which isn't really the case here
Bentley Ramirez
Hm, the fact it is being mined hard may mean miners are accumulating.
Fact is people are spending a lot of electricity,
Whether that's to dump into new buyers immediately or hold is the question.
Brody Evans
I don't really give a flying fuck about proof of work issuance and I don't think it's particularly important for Ether to lose store of value status.
That being said, if you on think that 0xBTC will go entirely under the radar, you're not really grasping how it fits into the overarching ideological discussion surrounding major protocol changes in BTC and Ethereum. It's actually kind of a big deal to have a deflationary, pure mined asset reside on top of Ethereum instead of on its own chain. It challenges many long held beliefs inherent to the BTC dominant era of crypto (which we have lived in but might not live in 5-10 years down the line).
0xBTC is to crypto what postmodernism is to art. It deconstructs the Bitcoin idea (in Satoshi's whitepaper) into smaller pieces. It intentionally separates network security from issuance, and makes the claim that whatever vision Satoshi had for a global currency can exist within a localized environment (Ethereum), even an environment that explicitly rejected the core tenets of Satoshi's whitepaper upon creation. 0xBTC brings something new to the table that has merit for real ideological discussion, which is a level beyond discussions on novel solutions to technical challenges (oracle problem, fair gambling, distributed computing/rendering, etc).
You don't have to think 0xBitcoin is useful. You don't have to like it, or use it, or even think about it. But don't brush it off just because you don't see the need. You can think something like postmodern art is stupid (pic related) but it's actually quite revolutionary for an artist to make something so unbelievably kitschy that it causes the word "kitsch" to lose all meaning. At the end of the day Jeff Koonz makes balloon animals that sell for orders of magnitude higher than traditional "high art" precisely because his art is significant in the centuries long debate on the purpose of art. 0xBitcoin will be seen, in time, as just as significant in crypto.
Ethan Long
the only problem is that it is only being listed on shit scam exchanges
Mason Ross
Wtf does Jesse Klaver have to do with this
Oliver Perez
With prestigious exchanges like MTGox getting fucked, I doubt there are any reputable exchanges, perhaps bittrex and coinbase.
Brayden Robinson
thou art excessively enthusiastic.
Adrian Morales
he's the only one working on it?
Grayson Edwards
more people
Jayden Taylor
Carter Wright
It's my understanding they are trannies as well, their discord group talks more about sucking dick for retweets than about actual use cases for this tranny coin.