I would like to discuss the implications of a minable ERC20 Tokens and how this will change the future of investments. In today's markets we are currently facing the ICO or (initial coin offering) onslaught a system designed to solve the problems of newly born ledgers being hacked by taking it’s hash rating, but the fundamental flaw of this distribution system creates a problem for the traders as there is no mining floor for their investments to rest on. In ICO’s one individual with extremely deep pockets could buy 20% of all the coins on opening day. Creating unstable tradable platforms that resemble much closer to a stock markets than an actual mineable cryptocurrency. As when compared to minable tokens this PoW system allows fair and even distribution of coins while simultaneously creating a mining floor for traders. This also allows any individual big or small to make profits. I say this because as a miner if you get in early on a project you can continue to sink your earnings into more GPU miners as the token scales. If this system of PoW tokens continues we will see markets stabilize if the projects provide there worth as investments and begin to take a more natural cycle of the markets themselves. As the miners hash ratings spike price follows with it. As miners hash ratings drop so does the price of the token.It is only when all tokens have been distributed that currency will act accordingly to the market they are within adjusting to price fluctuation as more individuals decide to sell, buy, or trade their token for USD or another token.
IS THE GOLDEN BULL HERE?
Satohsis true vision
no. fuck you. sage.
>no. fuck you. sage.
I just want to do Jow Forums on Jow Forums dammit.
can code that is written on other ERC20 tokens be written on 0xbtc? I mean, is it possible to transfer the use case of other tokens to this one and eliminate all other pre minted tokens?
proof of work distribution is nothing new
using it as a shill point is just absolutely fucking pathetic. go buy one of the countless scrypt shitcoins that are now on dead chains...
fucking pajeet and your fake ass mining
Yes but this isn't about dead projects this about projects that actually get to make it and can't be hacked while living on the ETH network.
at least read what your trying to FUD.
0xBTC is open source programmable money if you could make a 0xMonero version using the basis of this coin you would solve multiple problems at once. People would definitely mine an 0xMonero for sure for a privacy function. Blockchain tech would require all those miners to actually keep the ledger unlike minable tokens.
This isn't about 0xBTC it's just a basis this is about markets if utility tokens take over the current market and what kind of cycle this would produce.
I just don't understand why everyone hates this coin so much if there are so many development possibilities.
so what does this token do? it's entirely pointless and worthless right? but you can waste hashpower to get some tokens released from a smart contract instead... Mhmm so revolutionary such a use case
Doesn't require miners
Don't have to pay my own tokens as a tax
Fast Transactions speeds
I get to choose how much I want to pay
NO not revolutionary at all.
Yea I don't know either. But the supply is limited and if people start developing on it everything could change. Idk much about coding but I do understand supply and demand.
doesn't require Miners but how is it distributed?
so you pay with eth or gas as a tx fee instead?
same tx fee and speed as anything else on the eth chain...
worthless pointless shitcoin that does literally nothing
supply means nothing if there's no demand and the only demand this shitcoin will ever see is demand from bag holders to dump their bags
This solves a lot of problems that new coins would have suffered.
and everything else listed hereAnd what if there was a token that had a point and became valuable using this system.
.
Well I personally don't code, but if I did I would want to code on something that isn't 40% owned by some ICO
go "code" on bitcoin or eth then Lmao
Tokens are still distributed while on the ETH system. If miners don't mine that means there is less more tokens that can be mined.
Yes would pay ETH or GAS as tx fee.
when lava wallet comes out the developer of 0xBTC is giving it open source so the option to pay in tokens will come later.
WARNING TO ANYONE VIEWING THIS THREAD:
0xbtc has no use-case, no utility, no intrinsic value, and is not accepted by any merchants.
Miners were able to mine this turd unnoticed for a while and now they are here to pump the coin after the last dump and dump their bags on you again. Don't be fooled.
If you read what I posted you would know that this thread is about the effects of Token PoW cycles and not 0xBTC but thank you for proving a point.
The hashpower gives the token value by creating scaricity. Miners will not sell for less than what it took them to mine, and the mining algorithm keeps the difficulty up and increasing. All other tokens can be created out of nothing. I’d rather hold something that I know takes energy to create, it gives it value, rather than a token based on a white paper where the devs can sell it for basically anything and still be in the green. Once eth goes proof of stake 0xbtc may be the goto store of value on ethereum based decentralized exchanges.
I was thinking about learning actually. Maybe you can help me. does bitcoin work with other erc20 tokens easily? If everyone just coded on ETH why are there all sorts of other erc20 tokens?
Bitcoin does not work with erc20 tokens whereas 0xbtc can. There are all sorts of erc 20 tokens because it is pure profit to create something out of nothing and sell it to the public.
Hashing power provides an overall energy drain in the long run as you still need hashing power to run the ledger even after all coins have been mined. You still ensure token value still costs energy to mine until all coins have been mined after this process the only thing left is the value of the tokens use itself. This simulates the feed back loop while simultaneously ensuring the token value is equal to its output.
Question is how easily can you control the value of your token which is tied to your final project whatever it may be. In an ico they simply pick what they deem a fair price.
it costs nothing to mine these shitcoins
the mining cost of each token is less than 1/10th of a cent
Would be more comfy investing in this than Link unironically. From a returns standpoint
You as a centralized being do not control its value it up to the community, the miners, and the traders to decide it's value. If you fulfill your promises as a stated developer then it would be sure to rise in price as it would have an actual function.
Right now maybe but as time goes on the difficulty will increase depending on your token. Less payouts if your token is actually worth something. It makes sense you could get a lot in the begging of project as you were an early investor in a project but not to own 22% of the total supply.
Self bump
so can someone create an exchange using 0xbitcoin?
There is currently one in development.
Yes someone can do this though.
is it as easy as copying code from other exchanges that use ERC20 tokens?
No clue not my forte
alright. just gotta wait I guess
Have you even tried out a mining calculator? I’ll give you the benefit of the doubt and go with your number of 1/10th Of a cent, it would still be an infinitely larger number than nothing, the cost of Ico ing a token out of thin air.
its true though
lel, this shitcoin continues to bleed value every day, it's already had its pump and dump
enjoy the bags, I hope they aren't too heavy
This thread isn't about 0xBTC it's about Token mining cycles
It honestly is the future of other tokens on ETH tho. This shit will pass the securities test.