Low In Trade Volume = Barf Coins?

As I've noted before in this blog... occasionally the `threat' of being `delisted' on a major cryptocurrency exchange .. is a rare opportunity for big `profits' - when a coin is resurrected from the fire pit of being cinder - by huge crowds buying in volume to save it. I have at least one trade like that with my fingers crossed.

That said, generally - it is the knell of death... the end of the coins viability.. the end of a `market cap'. And, some exchanges as you know add a lot of `barf' coins that end up in the crappola pile when delisted..... Bittrex is like all exchanges... rotating the coins they list - as there are many coins wishing to on the exchanges and ones already there but not traded by anyone ... eventually get the Bittrex warning of being delisted... something the community is altered to with symbols next to the coins name. The latest round has a number of potential casualties that we bring to you below.... presenting... 

The Barf List

(warned of April 24th Delisting On Bittrex)

ApexCoin

Snowballs

CleverHash

GameLeagueCoin

Gnosis

LibrexCoin

MalibuCoin

MultiwalletCoin

PenCoin

SeedCoin

ShribeCoin

PetroDollar

BritCoin

AriCoin

Bitmark

SecurityCoin

NakamotoDark 

UmbrellaLTC

NobleCoin

RiskCoin

GoldPieces

Nubits

BitMiles

ExtractCoin

LyraBar

VirtualMiningCoin

CheckCoin

WankCoin

ViorCoin

EMoney

LitecoinDark

10KCoin

LemurCoin

CamorraCoin

CraigsCoin

EagsCurrency

Ascension

VidioShare

NooCoin

RootCoin

BollywoodCoin

WorldTradeFunds

X-Coin

HempCoin

BitstarCoin

SupCoin

KeyCoin

EventToken

UtilityCoin

DarkGold

BoomCoin

Triangles

SuperCoin

CryptCoin

BitcoinFast

ExclusiveCoin

NautilusCoin

SembroToken

SMAC

KoboCoin

Munne

GamerholicCoin

MasterTraderCoin

SativeCoin

BitBean

InstaMineNugget

Unitus

DopeCoin

MetalCoin

====================================

Now clearly the last dozen or so have shown a significant increase in trading and have little concern for now of being delisted... but.. being on this list can be like a shot across the bow of the ship. 

Or.. a coming torpedo.

UPDATE
and these are being threatened with de-listing at C-Cex

Twenty15 [2015], Abundance [ABC2], Bitquark [BTQ], GlobalBoost-Y [BSTY], CataloniaCoin [CATC], DogeBlackCoin [DOGEB], EagsCurrency [EAGS], Einsteinium [EMC2], ErmisCoin [ERM], GIMPcoin [GIMP], GoldPieces [GP], HellasCoin [HLC], IncaKoin [NKA], Kryptonite [KRYP], MozzShare [MLS], MistCoin [MIC], MotoCoin [MOTO], Prime-XI [PXI], ResumeoShares [RMS], SmileyCoin [SMLY], SpreadCoin [SPR], VorteX [VTX], WorldTradeFunds [XWT], Magi [XMG], RhinoCoin [XRC]. 

Happy Trading

=============================================

Beware in these wild west days of trading... your `virtual value' can vanish... as if it never existed... be aware of your portfolio. 

=======================================

Thanks For Your Readership

Have A Look Around

What I'm Trading On Poloniex

Or should that be ON Poloniex... anyway on Polo currently I'm divided between four cryptocurrencies.... we'll see how they do over time hopefully too.
----------------------------

Poloniex

Currently

`Vericoin Exchange'

I bought in at 6400 on 4/12 and have no sell position - really like the slow recovery of this coin value... PR page too.

Current Price 

6837-6869

`New Economy Movement'

Bought this new and falling price coin from 124-97 on 4/3-4/7. Like name and the multiple exchanges adding this coin quickly move.

Have sell position at 179 and hold 1/2 in no position. May lower price target a bit but this is certainly a coin that could have a run or two upwards..and will stick with it.

Current Price

73-74

`Stellar Exchange'

Bought Stellar on 4/5-4/7 for 1019-1046 as it appeared to have bottomed - Hold no sell position.

Current Price

1216-1217

`Counterparty Exchange'

Bought at 494238 on 3/12 and have been selling pieces of it since. Bought and still hold as much as any of the others based on it being mentioned as a coin that is being used or going to be used for BANKING transactions of some sort. Long term hold at this level for me.

Current Price

432000

================================

After several months at Poloniex.... I'm up about 12% from my initial stake... one of my worst performing exchanges. But, one with the most potential IMO too.

=========================================

==============================================

How about some Bitcoin news... the barf, stew and winners.

-----------------------

Paypal Continues To Make Using Bitcoin Easier To Use

a continuation of what happened in Sept. last year really.

Rand Paul To Accept Bitcoin For Presidential Run

he's a gutsy politician indeed

Bitmesh.... Firechat..... selling your bandwidth for BTC

could this be as disruptive as Uber?

========================================

Hey, thanks for the read... why not bookmark for the future?

And, if you are a male and you haven't seen the archive...you could be here all-day.

Bitcoin Dreams..... Prior To Sept 2016

I began this post weeks ago... it's a deeper one.... sorry for the lack of posting as I have been active in crypto and have more stories to share beyond this post. Also, this blog is now getting over 1,000 page views a day lately... much traffic from Germany too... thanks.
============================================

Tis the season for Bitcoin `pipe dreams' --- those who fancy that the new currency could again `take off' in a straight upward move in value. But, will that ever happen again... or are there now constraints via the marketplace (including options) to dampen that occurrence. And, what about the coming `halfing' of the block reward in Sept. 2016... will a panic set in then... 3 months before... 6 months before?

And, these pipe dreams I refer to in bitcoin value are not limited to a spike from a couple hundred to 1,500 like before... these are the dreams of each coin worth 50 thousand or even 100 grand or more. BITS of dreams. But, what is it that makes value? Is it literally JUST The value of the electricity? Some interesting ideas are to be found in this very deep look at the value of Bitcoin and the value of the alternative currencies too. http://bravenewcoin.com/news/bitcoins-value-mining/ Indeed, I will be looking deeper now at some of the tenets contained in the article... providing some feedback I've gotten about the article from two coin developers... and examine what value really is... perhaps.

This is how the article begins: RED is my emphasis

Bitcoins Value: Mining

Posted by Adam Hayes on 15 March 2015 | Comments

Tags: Bitcoin, Value, Mining, analysis

In my previous article empirical research analyzing the data from a number of cryptocurrencies found that value formation occurred at the margin. In other words, it is how many units of a cryptocurrency can be found over some interval with a given amount of mining effort. What's more is that because only Bitcoin has practical use-value for real world applications, a rational, profit-motivated miner will only mine for an altcoin if they can earn effectively more BTC/day than directing their hashing power at Bitcoin directly. As a result, altcoins find themselves always offered in the Altcoin/BTC marketplace and have the tendency to fall in price over time relative to Bitcoin. In fact, this is what has been observed in the market: over the past six months Litecoin is down 41%; Dogecoin -25%; Peercoin -50%; Reddcoin -50%; Namecoin -43%; Nextcoin -40%;  Blackcoin -91%; and so on. The Altcoin200 Index, a BTC-denominated market-cap weighted index of the largest 200 cryptocurrencies excluding Litecoin and Ripple is down over 20% since the start of the year.

So the first point is the seemingly downward trend compared to the last 6 months in the pricing of the alt market (after it's EXPLOSION into existence... so perhaps not really a fair correlation) as it finds A RELATIVE value for coins beyond their `trading value'.... Indeed I highlight the above saying that ONLY Bitcoin has `real world applications'..... as IMO that isn't true and a number of coins can now be spent and used in a variety of manners. 

And, additionally IMO... some will be finding a value outside of a direct tie to exchanging for bitcoin (but everything is interchangable of course). I think of coins that are moving into the banking arena and such. Other coins for gaming... others for perhaps a Nation such as Maza coin... or even the various niche coins that might serve a noble purpose or two.

The marginal cost, in the case of Bitcoin, is energy. Because miners cannot (yet) pay for their electricity costs in BTC, the dollar- (or euro or yuan etc.) price of electricity becomes an important variable. The energy efficiency of the mining hardware is also important, as it determines how much electricity will be consumed per unit of mining power. Today, the world average price of electricity is somewhere around 12.5 to 13 cents per kilowatt-hour (kWh), and the average efficiency for an ASIC mining rig deployed today is around 0.9 – 1.0 watts per GigaHash/second (or Joules per GigaHash). Knowing these two values, a miner can determine their cost of production per day:

$cost/day = ($price per kWh x 24 hr/day x W per GH/s) x (GH of mining rig / 1000)

It is the average cost across the entire network of miners which regulates the marginal cost for mining. There will be individual mining operations with very low cost of electricity, perhaps in Iceland, or with the latest cutting edge energy-efficient hardware. There will also be miners still running obsolete equipment or in regions with very high electricity cost in hopes that the price of Bitcoin will one day increase sufficiently to cover their daily operating losses. What matters is the average.

This fine article then goes on to point out the seemingly direct price correlation currently to the price o BTC and the price of electricity... not taking into account that the `median' price may not be where BTC is being produced and that therefore many other assumptions get called into question about the ultimate value. But without question slowly the move to efficiency and low production takes place... making the market even more valid and profitable.

The article later continues with:

This is only an objective calculation, and a reasonable explanation of why the actual market price trades consistently above this value is that there exists a number of subjective motivations for mining that also confer value. There is certainly a speculative premium, and many miners hoard either all or part of their production. The assumption in the objective production model is that all miners bring their product to market for sale each day, which is certainly not the case for everybody. Individual decision makers may undertake mining even at a loss if they believe that there will be a large enough potential upside at some point in the future. Others may be drawn to the anonymity or decentralized nature of Bitcoin.

Bingo the `objective' production model assumption is NOT true and is too much of a basis for this total speculation about the ultimate value.

BITCOIN IS HEADED TO $548.00 on 9/2016?

BUT IS ARMAGEDDON COMING?

Unlike most commodities where the supply can change quickly to accommodate fluctuations in demand, the supply of bitcoin is hardwired at a steady rate of one block every ten minutes with the difficulty setting adjusting up and down to maintain that linear rate of production through time. If miners are not able to supply enough new coins to meet an influx of new demand, the market price can see increases while the cost of production remains largely the same –  inducing more miners to increase their mining efforts. This will cause the difficulty to increase, raising the cost of production until presumably a new break-even level is reached.

One final insight that could have sizable consequences for the objective value of bitcoin relates to the block reward amount and how changes in it will impact BTC/day production. When bitcoin was launched, each block mined was composed of 50 bitcoins. That amount is set to halve every four years, and in 2012 the block reward became 25. The block reward will again halve to 12.5 bitcoins per block, expected mid-September, 2016, and will again in the year 2020 and so on. If we refer to the illustrative example above and substitute a 12.5 BTC block reward for the current 25, the expected BTC/day' becomes half of 0.010604, which is 0.0005302 per 1,000 GH/s. Given that new BTC/day', the break-even price for a bitcoin increases to $548.30, holding all else constant (the difficulty and cost per day remains the same). If the market price of bitcoin does not increase in turn, it will suggest that the break-even efficiency will also decrease by half. This could have the effect of eliminating all but the most efficient producers all at once.

=========================================================================

So alot could be coming in regards to the value and pricing of Bitcoin... meanwhile... some say things such as will BTC go to 100,000 or will 1000 coins go to 1000? The stuff dreams are made of Bitcoin Dreams.

========================================

More BTC Links Worthy Of Your Read

Alternative Currencies Are Bigger Than BTC

Mazacoin gets mentioned

The Five Phases Of Bitcoin

100,000.00 Pipedream?

COINBASE Declares 1 Bitcoin = 1,000,000 BITS

is this to be the NEW standard? (I like it)

======================================

Thanks For Your Readership

MORE VERY SOON

SH** `COINS' **IT - IS THAT WHAT THE ALT-COIN MARKET IS?

As readers have already seen... the crypto-currencies market exchanges are not a place to hang your intellectual hat upon... with folks `investing' `money' for things that are not only `virtual'... but that are actually `TOTALLY NON-EXISTENT'. Yes, we are talking about the `shit coins' that have no Earthly presence - after taking folks money straight out of their brainless pockets. Crypto money... that the `developers' will then later turn into Bitcoin and then a final conversion into fiat cash value.

And, today's post was prompted by an Email from the Bittrex exchange about the `shit coins' that had reached an end for them to list. A sample of the e-mail is below:
Thank you for using bittrex.com. 

In an effort to remove dead and unsupported coins from our systems, we have identified coins with broken blockchains and flagged them for removal on March 8th, 2015. Note, that these coins have broken blockchains with no active dev and we can not send funds anywhere. 

StabilityShares - XSI - blockchain broken (7.3million-800mc)
Mugata - MUGA - blockchain broken (2million 600 marketcap)
BankNote - BN - blockchain broken 
PesaCoin - PES - blockchain forked or broken (20m,500mc)
IncognitoCoin - ICG - blockchain broken (20m, 500mc)
EquinoxCoin - EQX - blockchain broken
ScatterCoin - XSTC - blockchain broken  (360,000, 22mc)
OptimumCoin - OPTI - blockchain broken 
Diode - DIO - blockchain broken (4m,131mc)

Additionally, the following broken wallets will also be removed. 

GhostCoin - GHOST 
MoCoin - MOB 
DarkSwitft - DS 

Thank you for your time and for trading at bittrex.com! 

Best regards, 
Bittrex Team 
==================================
Bittrex also has dozens of coins in a near similar state as does Bluetrade and the others. I pointed out on Bluetrade the other day how dead the Polish Coin was... One of many without even a webpage.... the lesson... check the coins out for a web presence at least.. look for reddit subreddits or something on bitcointalk for info before `investing'.
===========================
It's quite obvious to many of us in marketing for decades that many more `shit coins' are being made daily that have a `shelf life' of about 6 weeks at most. Even the most egalitarian ... that fit the `broadest' (such as a name Paycoin) definition ... will face HARD shakeouts for survival. After all... there's Mastercard, Visa, American Express, Discover... you get the idea... a handful... same goes for the banks... same goes for the world fiat currencies. 

Eventually... Coin Market Cap will not have 537 currencies... IMO. 

Many Think A Bitcoin Swoon Up To 1000 Again Could Kill The Other Coins

UNLESS...the niches to be served are fitted with the appropriately  positioned coins - in terms of quantity and pricing. 

To use a `stupid' example... Clean Water Coin.... 550 million available coins... worth 1/100th of a cent... marketcap 81,000 dollars.

While the coin immediately above it alphabetically  `Clams' has about 550,000 coins and a marketcap over a million - worth today... 1.81, yeah nearly two bucks. I've had both coins in my Dental Floss Tycoon portfolio previously and have neither now. 

But, each coin had appeal to me.. who doesn't want CLEAN WATER and a way for the world to fund it.... likewise... Clams... which is synonymous with real money... a coin that BETTER have value and be special for `worth'.

IMO both coins are being initially marketed in a realistically positioned manner. CLEAN WATER could have HUGE demand... CLAMS should be hard to obtain and positioned to be worth more. That said, IMO... Clean Water Coin ... nearly obviously... is NOT doing their PR job correctly.... and because of that has IMO way too many coins available. This coin SHOULD be easy to promote at a higher level... much higher marketcap level.

Whereas Clams... may wish they had more... as the viability of so few coins IF it became hot - could easily overshoot it's value compared to it's viability and usability compared to more established coins. But, that said, it's all a guessing game via the developers and name brand positioning.

================
Now, just to take a look at a few of the coins on Bittrex's `shit coin' list - the branding names:

StabilityShares - And WHO doesn't want a stable and rising coin?
PesaCoin - Positioned for the Spanish Speaking?
IncognitoCoin - WHO doesn't want anonymity? 
OptimumCoin - Positioned to those loving efficiency? 

My point is all these coins had a moment in time - (Pesa had a marketcap of 35,000 at one time... Incognitocoin - 60,000 plus... etc)...
These were take and grabs... IMO. Some folks are LAUGHING all the way to the bank as more get sucked into a name and a hole.

Which brings us to the video below: it ain't pretty as they say... I cannot vouch for the accuracy of the dialog... but... don't doubt it either.
10,000 Plus Have Seen This In Just A Day 20-1 Approval
very worthy comments at link too.


======================================================================

This is gonna take some time - can you imagine what happens when AND IF this video ever reached the non Bitcoin aware or other non users? Bitcoin as a ripoff game could only increase in awareness.

==============================

==========================

BTW READERS - I'VE DECIDED TO TRUST THAT GOOGLE KNOWS THIS BLOG CONTAINS NOTHING ALREADY THAT SHOULD FORCE IT BEHIND AN ADULT SCREEN NOR RENDER IT UNAVAILABLE TO THE PUBLIC IN GENERAL (IN A FREE SOCIETY) ON MARCH 23RD BASED ON THE ARCHIVE. NOR SHOULD THE CURRENT MATERIAL ABOUT BITCOIN BE VIEWED AS ADULT ONLY OR DANGEROUS.

IF THIS BLOG VANISHES ...AGAIN.

BE AWARE.

IT'S SLOWLY CREEPING IN - CRYPTO CURRENCY IS REAL - MazaCoin PR

As Barfstars know.... Barfstew has been covering somewhat extensively the `nation' branded coins - with the current ultimate example of which is the Maza Coin - a coin designated to be representative of a nation. (Lakota nation.) And, via my connection with Payu Kimitsu on Facebook... I've been aware of some videos that add to the fabric of how awareness builds about CryptoCurrencies.

The first example below is simply someone who wants to encourage the whole movement... who understands that THIS is the time to get in on a new currency standard. (BTW... at Bluetrade's chat box yesterday I again read the 1 bitcoin worth 50,000 idea by NEXT year.... if crypto took over just a small fraction of world commerce. - Something I'm simply repeating here, as you know, some say a million a coin is possible ultimately.) It's from an Indian familiar with this groundswell.... listen to how sincere his anticipation and desire is.

Chase Iron Eyes

Link To YouTube Channel With Other Videos Too

=============================================================

=====================================================================

IF such an urgency translates to the masses and overcomes the built in inertia of folks in 2015... the revolution is at hand.

But, the real gem of a video today is again from the Maza Coin team... again lead publicly it seems by Payu Kimitsu (goes by Payu Harris too) who almost single-handedly is leading the efforts to bring MAZA Coin to the masses for usage via real business transactions.

In the video below you see Payu talking with a local developer in South Dakota.... a developer who didn't really know what the question direction was going to be (you can see him begin to squirm at the 14 second mark) ... who had VERY little awareness of Crypto's (let alone bitcoin or Maza Coin)... and who all of a sudden was answering a question about WHETHER he would take Crypto Currencies for a property.... You will LOVE his answer at 21 seconds as he simply lumps crypto currencies in with all TRADe-ABLE CURRENCIES.

Then, as Payu tells the developer that he'd be the FIRST DEVELOPER to do something like this, (take crypto for building properties).. you can almost sense the guys pride and fear at being so positioned.

"..we feel good about being in a global market... with currencies that are tradable and movable"

Published on Jan 2, 2014

Maza Coin Project Founder Payu Harris talking with Hanni Chaffi about the future of Dream Designs acceptance of Bitcoin and the upcoming Mazacoin crypto currencies

About 300 Views So Far

The guy being interviewed is the kind that is the future of certain cryptos.

While the shake out is happening every single day - the huge shakeout and consolidation of bitcoin brands is coming IMO.

=====================================================

=========================================================

IMAGINE A WORLD IN WHICH  GOVERNMENT FIAT MAY OR MAY NOT BE CHOSEN TO PAY FOR GOODS AND SERVICES.

And, one can assume that Payu is behind this too:

http://www.reddit.com/r/mazacoin/comments/2wxg37/the_designators_dd_service_in_rapid_city_signs_on/

The Designators Designated driver service in Rapid city SD signed on today as the FIRST driving service in the midwest to accept Mazacoi as a payment option, if not the entire US. Designators owner John said..."Im happy to accept Mazacoin, it costs me nothing to have a mzc wallet so why not accept it and help support this new tech?" you can find them on FB @ https://www.facebook.com/pages/The-Designators/1510403115856483

===========================================

How much MAZA Coin do you have in your wallet?

===================================

So, I assume you noticed the ADULT screen I've placed on this blog at least for now in response to Google getting WEIRD about censorship again. While this blog prior to being a Bitcoin blog was known for being VERY controversial .... and was literally BANNED by GOOGLE for over 100 days.... my feeling was that it was the political edge that got the ban... but... this blog also featured pretty girls and women in photos... never ever nude but sexy often.... and that along with the LURID side links and Sexy Sunday and Sexy YouTube... leads me to believe that it's possible that Google may make this blog private on March 24 (against my will) - and restrict access to ONLY those who have been invited by myself the moderator/webmaster.

I'll explain more as this evolves - but - if you want to visit this blog after 3/23 - then you may have to give me a working e-mail. Sucks I know.

More on this soon.

====================================

==========================================

A few more bitcoin related links and thoughts.

Good PR These Days Is Assuring The Public That Bitcoin Ripoffs - Which are In The News All The Time - Are Addressed By Those That Hold The Coin For Others

This is how Payu responded..... as I said, coins will be dependent upon PR in this upcoming phase. Payu on top of his game.

--------------------------------------------------

Keep your bucks I mean Bitcoin in America is never a bad thought.

For Example

More China Bitcoin FRAUD

the MYCoin saga.

====================================

Great Articles

First Retail Bitcoin Store Opens In San Francisco - BitJam - Peer To Peer Lending Now 10 Million Dollars and 80,000 Bitcoin Loans

the store has an onsite Bitcoin ATM and offers a discount to Amazon Prices if you pay in Bitcoin. And, is Bitjam the tip of the iceberg for a new peer to peer world?

=====================

The Future Continues Its Slow Advance

Link To Picture

Bitcoin Friendly Cannabis Vending Machines Emerge

===========================================

Various Analysis OF Bitcoin Marketplace

Feb 9th Analysis

February 20th Analysis

The bottom line is that it looks like BTC is headed to at least 300.

======================================

MORE SOON

thanks for your support

August 20th, 2011 - Barfstews First Bitcoin Headline

SORRY FOR THE ABSENCE 
MUCH MORE SOON

Just a quickie today to look at this blogs Bitcoin History... such as the first headline to suggest that Bitcoin could become THE new world currency

And How Dangerous It Was To The Powers That Be (TPTB)

Referencing This Link

8/20/11

==========================================================
On 5/16/11 was the first actual mention of posting a Bitcoin link
Here
Which Was Posted Here

2011 had two more mentions of Bitcoin, none in 2012.
=========================
On 4/4/2013 - Bitcoin Headline #2
Bitcoin Bonanza or BUST?
=====================================
4/13/13 - Bitcoin Headline #3
Bitcoin - Ponzi Scheme Or The Future Of Money? - Trading Halted!
======================================================
4/28/2013 - Headline #4
Big Next Step for Bitcoin: Meeting the Regulators
=====================================
5/3/2013 - Bitcoin Headline #5
BitCoin Is Gold 2.0: Venture Capitalist
=======================================================
7/3/2013 - Bitcoin Headline #6
Winklevoss Twins Plan IPO for Bitcoin-Tracking Stock
======================================================
11/19/2013 - Bitcoin Headline #7
Is Bitcoin Real?
=================================
4/3/2014 - Bitcoin Headline #8
Native Americans adopt bitcoin clone as official currency
================================================
4/4/2014 - Bitcoin Headline #9
ONE Bitcoin To 1 Million Dollars - Why It Might Happen!
==============================================
5/22/2014 - Bitcoin Headline #10
Reddit BLASTS - Bitcoin Hater Schiff Now Selling Gold For Bitcoins
==================================================
6/12/2014 - Bitcoin Headline #11
Bitcoin bugs? Gold losing face to cryptocurrency!
=================================================
9/21/2014 - Bitcoin Headline #12
Bitcoin Touches 400 Dollars Per Coin
===================================================
9/30/2014 - Bitcoin Headline #13
Could Bitcoin Cause A Crash?
=====================================
10/5/2014 - Bitcoin Headline #14
Bitcoin With Debit Card?
=============================================
10/16/2014 - Bitcoin Headline #15
Will Government `Monies' Cause World Depression? OR `Why I'm A Bitcoin Bull'?
==================================================
The post above is THE POST in which I changed the direction of this blog forever to Bitcoin and alternative currencies.
Welcome Aboard
=====================================
========================================
MORE THAN LIKELY YOU NOTICED THE `ADULT' SCREEN I'VE AT LEAST TEMPORARILY PUT ON BARFSTEW.
THE HISTORY OF THIS BLOG SUGGESTS THAT BLOGGER MAY MAKE BARFSTEW A PRIVATE BLOG IN LESS THAN A MONTH BECAUSE OF A LURID CONTENT (NEVER NUDE OF COURSE) CRACKDOWN.
MORE ON ALL THIS SOON AND HOW IT MAY AFFECT YOUR USAGE OF BARFSTEW.

Will Hourly Indigenous Labor Ultimately Prove To Be Crypto-Currencies Real Strength?

In my post on January 29th I mentioned a company (BitWage) currently involved with the local Philippines workers... that converts their American dollars paid for their local work... into Bitcoin ... saving huge amounts of transaction fees for each worker. The idea is of course a natural for `indigenous' people anywhere in the world.... all that needs to happen is to have the idea REALLY take off... unencumbered by TPTB (the powers that be).... and let the awareness of a connected Internet take it's course of power.

And, at least one crypto currency person is at least making a rumble - in the direction of serving the SAME niche that BitWage is - for the American Indian (at least a tiny section of it but what if this worked... it could easily galvanize the many many other tribes) - his name is Payu Kimitsu and he is one of the main players for the MazaCoin.

I am friends with Payu on Facebook.... and wanted to share a post that is only a few hours old that he made and my response:

Payu Kimitsu

8 hrs · 

Talk of boycott swirls around local Indian community...but what would a Mazacoin backed Boycott look like? ok well it's going on 2 weeks since the beer throwing incident and no arrests...the States Attorney is looking at dropping pursuit of charges based on "the children were in no immediate danger" As the Native community fumes and seethes in rage over this clear message we're left to wonder what other options do we have as a community? Enter the Mazacoin Option: if the naive community  got solidly behind Mazacoin and switched 10% of their daily purchases and savings to Mazacoin it would spell a staggering $183 Million loss for the state of South Dakota...the native Community in South Dakota Alone account for $1.83 Billion a year in Tribal GDI (Gross Domestic Income). 10% of that removed from the local economy would be $183 Million lost...But where would it go? Well it wouldn't really be "lost" it would simply be removed from a fiat based economy like the state has currently and re allocated to a Native american based digital system. Since the State refuses to recognize any native american based currency as "Legit" it falls on the tribe as far as taxation and all taxes would revert to the tribes themselves.
But How would the Native Community go about such a feat? that is surprisingly simple... The Kimitsu group is currently looking at a idea to develop a inter tribal Payroll services co that would be able to do just that whereby clients could allocate a % of their payroll into Mazacoin automatically...and the more vendors, and small business merchants that accept Mazacoin as a payment option the more viable a solution Mazacoin becomes as a means of putting financial pressure on the state of south dakota and other states to get off their asses and actually do something to address the recent racially motivated attacks on the Native community...

======================================================================

Now, as you read above, Payu is simply using this as a tool to retaliate for the obscene public incident and lack of moves by TPTB. But, the move away from fiat and into a local based alternative is more than a reaction to injustice at one moment of time... it could be the beginning of who knows what and a reclaiming of economic power.

So... my response to Payu:

Rick Phillips Indeed Payu... why bother waiting for BitWage to do it for you. You are a man of action Payu.... well done and your math and theories about the actions also are dead on.... absolutely this is the way to push the envelope of change IMO. Begin smallish at about 1-5-10% based on the persons comfort level and then watch the multiplier effect take hold within the community as that money NEVER LEAVES the area.... and is allocated better too..... That said, as we know about how BitWage is helping workers in the Philippines it may be good to talk up that idea as one that is a symbol of change for those people at controlling their own money better without banks becoming involved. Bitcoin and the alternatives are the way to avoid their inclusion in everything. The real fantasy is that the entire economy of the tribes gets switched over... imagine these coins EASILY having a similar or greater value to the previous fiat currencies being traded for the last century. And, finally for now... since Maza coin is the 2nd base currency for that group that deals with the United Nations NGO's (non government organizations) - that represents the indigenous people around the world... what IF the tribal folks simply made THIS local experiment work.... then the whole world will of the indigenous may just be starting to be realized. It provides ONE community the direct chance to bring change. Man oh man.

30 mins · Like

======================================================================================

Much like when in the movie `The Graduate'  the word `plastics' was positioned - Maza Coin may be the secret word for 2015... and Payu may be just the person for the job. Don't believe that Payu is the person that puts his actions behind his mouth and words? See below... yes, they accept Maza Coin.

Link To Picture

==========================================================

Dig into seconds in the archive.

65% `Not At All Familiar' With Bitcoin - Google Tracking Study For Coin Center

Today's Bitcoin Lead

It's an interesting read on what the current understanding levels are for America.... sad... but a start... what's sad is that about 13% want the Government to BAN it... and only 16% or so want the Government to keep hands off. Read the news about Bitcoin Awareness Here. It would be interesting to know the demographic breakdown and other data right? Here you go.. and the consumer image of Bitcoin is Not Good and words 

associated with it include fraud and crime - the goal is to move the circles to the upper right.... a long way to go IMO.
=============================================

Bitcoin Spew

The Reddhead newsletter had a great history lesson about Bitcoin as Reddcoin celebrated it's first birthday in February.

Happy 1st Birthday Reddcoin!

This week Reddcoin turned 1 year old and members of Reddcointalk and the Reddcoin subreddit lined up to offer their best wishes to the infant cryptocurrency.

With the amount of development work that has gone into the project it is quite easy to forget how very young Reddcoin is. To put things in perspective it is worth taking a quick look at a couple of other currencies, starting with Bitcoin.

Bitcoin - 1st birthday 3 January 2010

Although the Bitcoin Whitepaper was published by Satoshi Nakamoto on 31 October 2008, it was not until 3 January 2009 that the first block of the blockchain - the genesis block - was mined by Satoshi. The first Bitcoin transaction took place on 12 January 2009, between Satoshi Nakamoto and American cryptographer Hal Finney.

On 5 October 2009 the first Bitcoin exchange rate was published byNew Liberty Standard. By calculating the cost of electricity used to generate Bitcoins the rate was set at $1 per 1,309 BTC, making 1 Bitcoin worth less than a tenth of a cent.

On 10 October 2009 the first online chat was set up for Bitcoin when the Bitcoin-dev channel was registered on freenode IRC. Over the course of 2009, before Bitcoin became 1 year old, versions 0.1 and 0.2 of the Bitcoin wallet were released.

And besides the above, nothing much happened. Of course Bitcoin was a new concept that no-one knew about, but it is still striking to see how it all began. To push the point home, the famous 10,000 BTC pizza was not bought until Bitcoin was nearly one and a half, on 22 May 2010!

Euro - 1st birthday 1 January 1999

The Euro was launched on 1 January 1999 in non-physical form (travellers cheques, electronic transfers, banking, etc.) at midnight. At the time of launch the national currencies of participating countries had their exchange rates fixed to one another, as a way to implement unified monetary policy. The Euro did not actually get its own physical notes and coins until three years later, on 1 January 2002.

It appears that even a fiat currency like the Euro was not immune to what cryptocurrency enthusiasts would refer to as a “pump and dump”. Buoyed by high expectations and plenty of optimistic expert opinion, on the first day of trading (5 January) the Euro climbed to US$1.19 as it was rapidly adopted by traders. However the Euro dropped to parity with the dollar by the end of the year, a 16% drop in value that may not seem much compared with cryptocurrency... but it was enough to spur emergency action from the G7 to set up support for the European currency in 2001.

Reddcoin - 1st birthday / public release 2 February 2014

Reddcoin was launched at a time when the cryptocurrency scene was blooming following the huge mainstream attention paid to Bitcoin at the end of 2013. One year on and the majority of the diverse cryptocurrency projects set in motion in 2014 have faded away and been resigned to crypto-history.

Thanks to its team and dedicated community Reddcoin is one of the few projects that continues to forge ahead with innovation and promise for the future.

==============================================================

More Soon