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Why not monetize LTBcoin?

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Dlight

The value of a crypto token is simply what one can buy with it. Why not open up a marketplace where anyone can offer services for LTBcoin or even a percentage of LTBcoin vs. bitcoin - for example one could offer a product with up to 40 % paid with LTBcoin - the rest with bitcoin. Then let LTBcoin be listed on exchanges and find a real market value.

LTBcoin is different from many other coins because there's a genuine network behind it - and a broadcasting mechanism - as the marketplace grew it would grew it would increase the value of the coin.

If this started to take off then more thought would be needed as to how coins are distributed - to make sure everything is done fairly. Probably forming some kind of committee to make sure the coins weren't just enriching a few folks and that all distributions are fully transparent. But it seems a shame not to leverage the value of the network - it would be a good example demonstrating how networks can inherently self-capitalize.

It seems as though LTBcoin is being deliberately kept back as a toy currency now. It would only take a small shift for it to really take off.

Is it a matter of preserving LTB's innocence vs. the cutthroat game of alt-coins? Or preserving LTB's neutrality? Concerns about legal issues?

With all the effort to work on LTBcoin - even to the point of adding accounting and tax features - we may as well let it grow up and jump out into the world - it might be a powerful currency.

Plus it would be instructive to see a coin boosted by a genuine marketplace of individuals willing to accept it, rather than just pure speculation as many alt-coins are.

The power of the LTB network should not be underestimated. Would love to hear peoples' thoughts on this.

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  • Cryptonaut

    All in due time, we are busy behind the scenes working on the tools to enable stuff like this. All of our stuff is open source and we are quasi-decentralized, so feel free to start your own initiatives and make contributions if you can.

    Chief Architect - Let's Talk Bitcoin!
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  • adam

    Yup, +1 @cryptonaut we very much agree with you and are working hard to put the pieces in place to make it happen. Our distributions are already fully transparent and people are getting value from it now.

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  • pooktwo

    @cryptonaut All in due time, we are busy behind the scenes working on the tools to enable stuff like this. All of our stuff is open source and we are quasi-decentralized, so feel free to start your own initiatives and make contributions if you can.

    The pieces the LTB team has been developing will be used in a Marketplace we are building that is close to what you are saying. We right now have the backend server up and running, but not much else. We need to start plugging in various opensource applications such as TOKENLY and get an instance of counterparty ruby on there as well. When i am working on the server you can see the progress with this link: http://muscular-firefly-58-217727.use1.nitrousbox.com/

    Remember, it isnt much now. You cant even login yet, but we are working on what you are describing :D Also that link will only work when i am on. I will leave it open for awhile so you can see it, but you can also check the link periodically to see our progress

    • Robert Ross
    • Director of FoldingCoin Inc
    • Community Director for the Counterparty Foundation
    • Skype: foldingcoin
    • Twitter: @pooktwoFLDC
    • FLDC Twitter: @foldingcoin
    • Email: rross@foldingcoin.net
    • Alt Email: foldingcoin.net@gmail.com
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  • Dlight

    Great! Happy to hear everyone's thinking along these lines. Adam's discussions on this made me think there wasn't an intention to turn it into a real alt-coin - but I'm happy to hear that you're working in that direction. I'll check out the code... Thanks.

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  • adam

    @dlight Great! Happy to hear everyone's thinking along these lines. Adam's discussions on this made me think there wasn't an intention to turn it into a real alt-coin - but I'm happy to hear that you're working in that direction. I'll check out the code... Thanks.

    What discussion did I have that brought this up?

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  • Dlight

    Adam I've heard your special shows which focus on LTBcoin - and you make it sound like a very dubious activity in terms of financial reward. I'd have to go back and re-listen to find specific quotes. But I had the strong impression that you were planning to keep LTBcoin separate and protected from the alt-coin world.

    Monetizing this coin would be easy - you have to work hard to intentionally prevent it from happening - which is what I thought you were doing. You are sitting on a potential goldmine but making it sound like you have no plans to go there. I'm certainly aware that the LTB network - for journalistic integrity - doesn't want to appear to be motivated by profit - hawking a specific coin - and you've taken great pains to even rarely discuss the Bitcoin price.

    But I think LTBcoin has the ability to teach a very important lesson to the crypto-currency community - that value is really IN the network - any dedicated network can be monetized. A coin is really nothing more than an expression of community productivity and potential.

    Alt-coins should NOT spring up out of bitcointalk forums. They should arise out of genuine existing communities, tribes and interest groups. This is a potential paradigm shift that would make crypto-currency more relevant with the potential to activate many non-geek communities as well.

    It's also an opportunity to set a precedent for full transparency - that is - all those who are part of the coin distribution activity should have their holdings completely transparent. Founders should make a nice reward but probably not become multi-millionaires. Transparency will force this issue out in the open.

    Done properly LTBcoin could really advance and enlighten the crypto-currency arena - and earn everyone involved a nice profit.

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  • sicocos

    However, although the coin LTB different from the others, in fact the price is very fall

    DOGECOIN is The FUTURE

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  • adam

    @sicocos However, although the coin LTB different from the others, in fact the price is very fall

    Yup, one of the ways we're different is we don't manipulate or attempt to prop up the value or exchange rate of the token at all. In reality most coins would be like this if markets weren't so cheaply manipulated at extremely low volumes.

    So although the price may suck, it's real and when it gets better that'll be real too.

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  • Dlight

    Are you intentionally preventing it from being listed on exchanges?

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  • elpinyeknom

    I think in the future, crypto tokens could become an essential tool for all podcasts. Can you imagine how fast the use of cryptocurrency would grow if people like rogan paid their listeners in rogan coin. I think ltbc is laying the groundwork for this and when the infrastructure is built to allow listeners to build an economy that trades services It will drive up the coins value.great job on everything built to this point. I love the experimental project you have created!

    I need a miracle every day!

    1Jy3fK6GCM4d7PGQG5N6PnvQjEPHBBnQsJ

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