Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [BSTY] * DIGITAL MONEY * YESCRYPT GLOBALBOOST-Y * CPU MINING launches 9pm
by
waywardgeek
on 11/09/2014, 01:36:29 UTC
It is cool that they are listed... however, note that there are exactly zero buy or sell orders.  This is not, IMO, a weakness in GlobalBoost-Y coins, which may be use the strongest algorithm we've seen yet in any cryptocurrency.  Instead, this reflects the nearly completely useless value in the C-CEX exchange as a way to do real financial transactions.

The original Ripple (not the scam they run now) was an e-money system built using local currencies.  If I had $100 in my Ripple account, there would be zero friction in using it to buy stuff.  As it is, these BitCoin clones all suffer from BitCoin's fate - you can't even buy lunch with it.  No sane person would go to the effort of depositing only enough to buy lunch, because the effort is way more than lunch is worth.

To make this point a little stronger: I will buy lunch, meaning I'll PayPal you $10, for anyone who in the next 12 hours succeeds in depositing USD into a new C-CEX account, and then uses it to buy even one BSTY.  Good luck... I hope someone succeeds!