Wow. Bitcoin is almost $1,500

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Staples

Diamond Member
Oct 28, 2001
4,952
119
106
VeChain plans to migrate to their own blockchain in the future. True of a lot of current tokens.
 

ultimatebob

Lifer
Jul 1, 2001
25,135
2,432
126
What is cool coin a token for?

What is VeC a token for?
I should let Zeze explain VeChain, but it really seems to be a supply chain tracking token. I know that IBM is working on something similar.

Coolcoin is supposed to be a reward token for awesome ATOT posts, but so far I've only been able to award two of them. My plan to bribe people into posting cooler content seems to have backfired :(
 

Red Storm

Lifer
Oct 2, 2005
14,207
216
106
While the tech is correct on VeChain, the fact is they are about to get a 100x delusion of their stock... so glad I didn't buy.

Here's a shill justifying it.

https://www.reddit.com/r/Vechain/comments/8kd258/dont_worry_about_the_100x_increase_in_tokens_a/
It's a split.

Currently: 1 VET = ~$5

After the Split: 1 VET = ~$0.05, but your 1 VET from before will become 100 VET, so the value is the same.

Every 1 VET you hold will become 100 VET. This was mainly done to prepare them for a future of high demand and growing business and also so that transactions aren't done using decimals (like it is with Bitcoin right now, they don't want companies having to deal in fractions of VET). The valuation of people's holdings is not changing at all. If you have $1000 of VET now, you'll still have a $1000 of VET after the split, it's just the amount of tokens that's changing. Not sure why it's difficult to understand, but you are more than welcome to continue believing it's a scam.

Here's the explanation from the foundation:
https://mobile.twitter.com/vechainofficial/status/997548414912073733?s=21
 
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ultimatebob

Lifer
Jul 1, 2001
25,135
2,432
126
Is it a really good idea to do a 100 to 1 split when your coin is only $5? Now some people are going to think that the coin is "penny stock" garbage.
 

Staples

Diamond Member
Oct 28, 2001
4,952
119
106
Interestingly enough, those penny stock coins/tokens move more (usually up) because people can make 2 cent trades that move the needle. With other coins, you are probably limited to the equivalent of $5 trades.
 

Red Storm

Lifer
Oct 2, 2005
14,207
216
106
Is it a really good idea to do a 100 to 1 split when your coin is only $5? Now some people are going to think that the coin is "penny stock" garbage.
It actually causes people to join in because they can get a "lot" of tokens for seemingly little money.

Thing is I have zero care for individuals thinking it's a penny coin. VEN adoption is going to be driven by businesses and ICO launches which will require VET. This coin is not reliant on armchair day traders.
 

Korkmaz

Junior Member
May 24, 2018
1
0
1
I think the bankers are trying to ruin the crypto market. They buy loads, increase the price then sell off fast and take their profit then repeat the process. That big crash in December 2017 was done on purpose to hurt the market. A lot of the general public is scared of crypto now.
 

DaveSimmons

Elite Member
Aug 12, 2001
40,730
670
126
It's not the bankers placing the pump-and-dump scam ads all over the internet.

The general public should be scared of investing in coins. It's a very high risk sector backed by optimism and not much else.

Much of the code is open source, and the key ideas were created by university researchers before bitcoin existed and they are not patented. Amazon, Google, Microsoft can choose to add blockchain and/or coin services to their cloud offerings at any time. So can nations and corporations.
 

madoka

Diamond Member
Jun 22, 2004
4,344
708
121
Coolcoin is supposed to be a reward token for awesome ATOT posts, but so far I've only been able to award two of them. My plan to bribe people into posting cooler content seems to have backfired :(
Can you post links to who got those two? I'd like to bask in their glory.
 
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destrekor

Lifer
Nov 18, 2005
28,799
358
126
It's not the bankers placing the pump-and-dump scam ads all over the internet.

The general public should be scared of investing in coins. It's a very high risk sector backed by optimism and not much else.

Much of the code is open source, and the key ideas were created by university researchers before bitcoin existed and they are not patented. Amazon, Google, Microsoft can choose to add blockchain and/or coin services to their cloud offerings at any time. So can nations and corporations.
I don't disagree.

However, something that is repeated countless times is the idea that the big players will just come up with their own anyway, and those are guaranteed to be the ones that last the long haul.

Has no one paid attention to the history of startups? They topple or beat the stalwarts time and time again. Something to consider is often the big players are slow to move, due to the weight of their corporate bureaucracy. Of course, you also cannot write off the giants, because if they don't beat 'em, they may buy 'em. But then that gets trickier in this landscape, because most of these projects aren't corporate entities, nor do they intend to be; they are distributed, open-source, written specifically to eschew centralization and how that could impact the foundation of the currency. They want it to be outside of truly centralized governance. Generally, at least... there are more centralized projects or even distributed open source projects that through a core development team otherwise projects governance all the same. This is of course the nature of open source projects with an otherwise stable lead development team. But quality non-profit organizations can steward projects often better than a loose community.

I digress. My point is that these major players may very well swallow up the core development teams, or do so with a very strong indirect influence via contributions to an otherwise independent non-profit organization. Again, look to the Linux community as a chief example: core kernel development is essentially independent, but there are code and monetary contributions from major enterprises and there is a natural steering of the project's future by said enterprises, and these enterprise outfits otherwise operate based off that code and stay attached to that upstream code and yet do so independently, developing their own project that utilizes that open source code.

Crypto currencies will remain decentralized, but I'd bet that the titans of tech today will not own or control the most successful code bases, though they may have a seat in a steering committee or otherwise influence the project. But I'm thinking projects like NEM, Ethereum, etc, the truly versatile projects, will end up serving as the common core between disparate privatized solutions. Even if the activity isn't directly involved in, say, Ethereum and its dApps and private chains that produce activity on the public blockchain, the public blockchain still records encrypted data on blocks that continue to grow the chain. For sure I expect some major company to bring its own project from scratch, and perhaps it'll gain traction, and perhaps it could become the dominant project of them all, but it's just as likely to not be one of them.
 

DaveSimmons

Elite Member
Aug 12, 2001
40,730
670
126
^ even if that happens though, the odds are bad for a member of "the general public" happening to invest in the right coin / chain / company instead of the many losers. I recommend that 99+% of the public should avoid trying to pick individual stocks, too. Most people should invest in index funds instead.

There is no crypto index fund comparable to the S&P 500, and there probably can't be for years because the 500 are established corporations with 3+ billion in market cap and that produce real products, have actual income, and have expected future earnings and growth that are not purely speculative. It's going to take awhile for the gold rush to shake out, the bubble to pop, and to see who is left standing with a sustainable model in crypto.

That is, "the general public should be scared of investing in crypto" :)
 

ultimatebob

Lifer
Jul 1, 2001
25,135
2,432
126
So I have to fly to Italy and take nice photos to get a Coolcoin? damn.

...what if I withhold posting nice photos from my upcoming Latvia trip this summer? Is there a counter-Coolcoin that you award?
Sorry, my request for a "Dickcoin" was denied by the forum directors. Coolcoin is all we got.
 
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ultimatebob

Lifer
Jul 1, 2001
25,135
2,432
126
Also, I'm getting a bit worried about Nimiq. It's been live for a few weeks now, yet it's still not traded on any exchanges. I fear that (once again), I'm stuck with a pile or worthless coins that nobody wants.
 

Red Storm

Lifer
Oct 2, 2005
14,207
216
106
Also, I'm getting a bit worried about Nimiq. It's been live for a few weeks now, yet it's still not traded on any exchanges. I fear that (once again), I'm stuck with a pile or worthless coins that nobody wants.
What does Nimiq do? What problem are they solving? What people / companies are invested in them?

Genuinely curious, I believe they were mentioned earlier in this thread but I have no clue about them.
 

ultimatebob

Lifer
Jul 1, 2001
25,135
2,432
126
What does Nimiq do? What problem are they solving? What people / companies are invested in them?

Genuinely curious, I believe they were mentioned earlier in this thread but I have no clue about them.
Their claim to fame is the ability to mine their cryptocurrency from a browser interface without having to install any software. Unfortunately, the browser miner kinda sucks and only mines at 1/3 the speed of their dedicated node.js miner.
 

Zeze

Lifer
Mar 4, 2011
10,733
771
126
I believe in the actual team, development, and the products. But trading/coin value aspect of this is utter BS. We're all being played like a fiddle as they puppeteered the entire market.

It's so obvious - the January crash that still resonates today. So many sell walls. So many abrupt orders by hundreds of millions USD. Prices will fluctuates back and forth and never let it flourish truly.

My expectation is low now. If I make it outta here with just +100% increase, I'll be happy. (Not saying I'll be cashing out at that point though).
 

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