Datacoin
Cryptocoins generally lack any inner value, today their main purpose is speculation. Easy to see especially with many altcoins experiencing pump and dump schemes. Lots of people buy them hoping for bitcoin-like exponential growth. Datacoin is one of very few different. From initial thread:
Cryptocoins generally lack any inner value, today their main purpose is speculation. Easy to see especially with many altcoins experiencing pump and dump schemes. Lots of people buy them hoping for bitcoin-like exponential growth. Datacoin is one of very few different. From initial thread:
So far so good
Datacoin is intended to be reliable censorship-free data storage and a currency to pay for this storage. Money transfer isn't the first purpose of Datacoin.
Data storage is the inner purpose of DTC, giving Datacoin its inner value. BUT its inner value does not have to be equal to its price. While I appreciate giveaway and cryptsy fight, I think I see you are going every-other-coin-way here. I think you should not promote Datacoin in first place. You should focus all your efforts at Datacoin uses, services, etc. Build a user base around them. Make Datacoin not a target, but *just* a tool for people. That would reinforce its inertial value by making the coin itself simply useful. You should really make this coin a tool first and a coin second.
Data storage is the inner purpose of DTC, giving Datacoin its inner value. BUT its inner value does not have to be equal to its price. While I appreciate giveaway and cryptsy fight, I think I see you are going every-other-coin-way here. I think you should not promote Datacoin in first place. You should focus all your efforts at Datacoin uses, services, etc. Build a user base around them. Make Datacoin not a target, but *just* a tool for people. That would reinforce its inertial value by making the coin itself simply useful. You should really make this coin a tool first and a coin second.
You must promote, it's a battlefield out there. Soon local supermarkets will mine their own coins, very localized to a country or even a region. Value mostly based on convenience. And I'm waiting for Pokemon Coin by Sony ;p
With Datacoin there indeed is an added value: secure data storage. I would not know yet what kind of application can use that, but where a possibility exists, applications will be found. I really think they will be micro-small amounts with micro-values (but influenced, in price, by speculation). I think banking, I think personal data like contacts, ... I dunno. Could be subscription based too, leaving datacoin, in value, very static - and stable. With low costs to operate and maintain.
And sorry to say that I think that going the Dogecoin-way ( ), with giveaways, twitter, cryptsy and buzz, while may seem desirable on a short time frame, on a long way run may destroy the uniqueness if DTC would became too successful this way. With tool-first approach DTC price would depend on its usefulness and usefulness of all DTC-related ecosystem. DTC price cannot be too high. Don't get me wrong, theres still space to grow here, but it would be quite bound to a data storage function, and here price cannot rise above sanity levels. Additionally, function-bound price could be quite stable. Just these orders of magnitude jumps that would make all this speculation crowd happy would render Datacoin unusable, practically depleting it of its inner value.
), with giveaways, twitter, cryptsy and buzz, while may seem desirable on a short time frame, on a long way run may destroy the uniqueness if DTC would became too successful this way. With tool-first approach DTC price would depend on its usefulness and usefulness of all DTC-related ecosystem. DTC price cannot be too high. Don't get me wrong, theres still space to grow here, but it would be quite bound to a data storage function, and here price cannot rise above sanity levels. Additionally, function-bound price could be quite stable. Just these orders of magnitude jumps that would make all this speculation crowd happy would render Datacoin unusable, practically depleting it of its inner value.Can't argue here. With the last part. The first part...
Hmmm... Let me think. I think Datacoin indeed has the potential to create the next Tulip Crash (https://en.wikipedia.org/wiki/Tulip_mania). So I'd wait till it rises above a certain point - which one I do not know yet Then, I'd start pumping it into some automated trading systems (like http://goo.gl/bVM0ZV - scforum.info, mining like a sir), trying to push profits (and the coin) into higher (other) regions...Unless we imagine a dystopian future, where people are willing to pay many thousands of dollars for every byte of decentralized redundant censorship-free storage...
http://static2.wikia.nocookie.net/__cb20130711132208/mk_/images/2/25/Anchorman_well_that_escalated_quickly_966.jpg
