Quote from: TimeBits on May 01, 2019, 02:05:41 PM

Quote from: helmuc on May 01, 2019, 05:26:23 AM

Question to Bitcoin maximalists:

>> What defines a ShitCoin?

I am not a bitcoin mamimalist, I am a human fighting for what is right for my kind, banker and worker alike.

What defines a ShitCoin?

HERE IS A FULL LIST OF THEM https://coinmarketcap.com/ and https://en.wikipedia.org/wiki/List_of_circulating_currencies

A coin no backed by anything, someone else's money supply, Scam, Devs leaving without saying anything, false promises, Coins that do not fulfill there road maps, forks with no innovation going into them, unfairly distributed coins (mining,ico alike), tether, coins that are not backed by real goods *cough fiat cough bitcoin* to give them their worth, I mean you are trading fiat for fiat. Another mans money supply not backed by anything, you give up your time and your work for their supply, unlimited or not.

So I do consider bitcoin to be a shitcoin, it is some else's shit you trade your work and time for. Just like Fiat.

Urocoin, it was literally a coin based around having a physical commodity urea a.k.a fertilizer (piss) to back up the supply, each 1000 urocoin you held I think you got like 1000 liters of urea or something along those terms is what the company claimed, since the pump and dump, there has been no dev action, bohan and his buddy there both should be in jail.

In essence physical backed commodity tokens will actually be the future people as we move into becoming a resource biased economy and species really believed in this idea and if there actually was a company backing their physical goods with tokens (like a real stock market) it is a pure market. I know how to make it work when it comes to Land, Food and Gold and other none fiat currencies, But this one just took a piss on everyone other than me Tongue I turned like .3 bitcoin into 10 in a matter of seconds.

sorry this was a PissCoin not a shit one, not only were you trading fiat for piss, all the investors got a golden shower. Grin

Here is the ann https://bitcointalk.org/index.php?topic=600639.0

Another example of a "shitcoin" is a coin that produces "waste material" and "waste material" is also literally known as "shit"
https://youtu.be/K8kua5B5K3I?t=285

There is three formulas I have thought of thus far
1. we use time a as a medium of exchange https://www.youtube.com/watch?v=Y7TLFyK_3Pk
2. we each make our own coin https://www.youtube.com/watch?v=bowyBKPt15U
3. we back each resource with its own coin (gold coin that can actually be backed without any fraction reserve banking, people can go and see it in your glass vaults, oil coin, etc this is probably that hardest one to implement and leads to the case I point out in the first video about limited supplies)

go ahead solve the equation.

Granted bitcoin stops the unlimited printing of the free press and is why I got interested in it, but when unlimited fiat can buy all the bitcoin it`s a illusion of freedom.