The LTB Network Forum

Does LTBcoin require fiat to survive?

Back to Community Bulletin Board

Comments

ademczuk

Offline
Posts: 123
Location: Melbourne, Australia

It appears that the current market price that has been established is currently measured in USD/BTC. However, Bitcoin and fiat can be used for items that necessitate life (food, water, shelter, etc). Therefore I am left wondering what the use of LTBcoin will be. I understand that ltbcoin or the coming TALK/MEDIA tokens may be used as either an appcoin to limit future features of this forum or in a bounties. I keep thinking that LTBcoin right now only has a price because sponsors are feeding it fiat.

To answer my own question I would say that Adam has built for us an excellent platform to source talent and build upon the content we are able to create on our own. Hopefully the future ltbcoin bounties joining these creative minds can occur through Ricardian contracts across openbazaar (when it gets released at the end of the year) to securely add to the function of ltbcoin with mediation.

Posted on July 17, 2014 at 12:06 AM
Last Edited: August 12, 2014 at 9:07 PM

0 likes

• adam

  

  Offline
  Posts: 1980
  Location: California, USA

  Things don't begin life at maturity. They start new and small, through the process of learning and doing they grow both by necessity and nature. You don't ask a child to earn a paycheck, you let it play, give it time and soon enough you get there.

  I don't think we're going to take that long, we have quite a bit of combined context and experience rattling around these halls, but there is no dollar pressure on the project and the intent is to see what this grows up to be.

  Posted on July 17, 2014 at 6:17 AM
  Permalink
  4 likes
• Mike

  

  Offline
  Posts: 203
  Location: Chicago, IL

  @adam Things don't begin life at maturity. They start new and small, through the process of learning and doing they grow both by necessity and nature. You don't ask a child to earn a paycheck, you let it play, give it time and soon enough you get there.

  Well said. It is far to early to state that a market price has been established, in my opinion.

  The only ways we have to even conceptualize a market price is through the auctions we have running for advertising space. Through that you could derive a sample fair value based on comparable sales in fiat/bitcoin but even then that doesnt take into account future plans for the coin or website as a whole. There isn't nearly enough trading to state that market value has been realized. On top of that, the whole program is too new to even fool ourselves into thinking it has any sort of actual market value.

  Posted on July 17, 2014 at 8:15 AM
  Permalink
  0 likes
• CrimsonRoze

  

  Offline
  Posts: 295
  Location: Göteborg, Sweden

  The current rate of the LTBCOIN is most likely a function of it's percieved future utility. If LTB grows, then the marketing venture it allows in the form of airtime on the shows, advertisments on the front page and more marketing features yet to be announced is the absolute minimum of value the tokens has.

  To me, getting ~50k tokens in preparation for a game related project that I'd like to market to this specific crowd meant that I was looking at buying some LTBCOIN. Some issues with UI and the fact that the coins eventually showed up on their own kinda made my idea moot.

  If I do get my game project up, and the response from being mentioned on the show ends up being highly valued, then I will without doubt look at getting more coins for that sole purpose.

  So, at the very minimum, the LTBCOINs are worth marketing value of the LTB networks offers.

  Posted on July 17, 2014 at 8:25 AM
  Permalink
  0 likes
• Disengage

  

  Offline
  Posts: 31

  I intend to use my LTBc to buy advertising for my webcomic. For this purpose, a fiat value is unnecessary. Even if I wanted to check my return on investment, my webomic only accepts BTC donations so I'd do those calculations in terms of BTC, as in: "a 15,000 LTBc advertising spot resulted in X BTC donated on my website, Yay!"

  That being said, I'm not saying that LTBc having a fiat value isn't useful. The fact that it can be exchanged for filthy fiat will undoubtedly bring in people interested in doing just that. Interest from traders and speculators might just grow the network, making LTBc more valuable when used for advertising.

  Posted on August 8, 2014 at 4:58 PM
  Permalink
  1 like
• catlinhappy

  

  Offline
  Posts: 104

  @ademczuk It appears that the market price that has been established is currently measured in USD/BTC. However, Bitcoin and fiat can be used for items that necessitate life (food, water, shelter, etc) and am left wondering what the use of LTBcoin will be. I understand that ltbcoin or the coming TALK/MEDIA tokens may be used as either an appcoin to use the limit the future features of this forum or in a bounties. I keep thinking that LTBcoin right now only has a price because sponsors are feeding it fiat.

  To answer my own question I would say that Adam has built for us an excellent platform to source talent and build upon the content we are able to create on our own. Hopefully the future ltbcoin bounties joining these creative minds can occur through Ricardian contracts across openbazaar (when it gets released at the end of the year) to securely add to the function of ltbcoin with mediation. In my own opinon, i will say NO, as long as BTC is alive LTB will survive

  Posted on August 10, 2014 at 3:00 PM
  Permalink
  0 likes
• MikeJohnson

  

  Offline
  Posts: 427

  @disengage I intend to use my LTBc to buy advertising for my webcomic. For this purpose, a fiat value is unnecessary. Even if I wanted to check my return on investment, my webomic only accepts BTC donations so I'd do those calculations in terms of BTC, as in: "a 15,000 LTBc advertising spot resulted in X BTC donated on my website, Yay!"

  That being said, I'm not saying that LTBc having a fiat value isn't useful. The fact that it can be exchanged for filthy fiat will undoubtedly bring in people interested in doing just that. Interest from traders and speculators might just grow the network, making LTBc more valuable when used for advertising.

  Filthy fiat made me laugh a little.

  I also don't look at the total fiat value of LTBcoin but rather as 1 LTBcoin = 1 LTBcoin :)

  Posted on August 10, 2014 at 6:46 PM
  Permalink
  0 likes
• meadefreling

  

  Offline
  Posts: 81

  @adam Things don't begin life at maturity. They start new and small, through the process of learning and doing they grow both by necessity and nature. You don't ask a child to earn a paycheck, you let it play, give it time and soon enough you get there.

  I don't think we're going to take that long, we have quite a bit of combined context and experience rattling around these halls, but there is no dollar pressure on the project and the intent is to see what this grows up to be.

  I completely concur with all you said

  Posted on August 11, 2014 at 9:07 AM
  Permalink
  0 likes
• rouf553

  

  Offline
  Posts: 71

  Bitcoin is proven money. So, don't need fiat to be a successful crypto coin. LTBcoin/BTC is enough.

  Posted on August 11, 2014 at 11:34 AM
  Permalink
  0 likes
• lovebitcoins

  

  Offline
  Posts: 103

  I am more excited for when fiat isn't even part of the equation. 1 coin = 1 coin type stuff :)

  Posted on August 11, 2014 at 11:35 AM
  Permalink
  0 likes
• nicojuritz

  

  Offline
  Posts: 100

  Fiat isn't really needed in my opinion bitcoin is bitcoin .

  Posted on August 12, 2014 at 1:46 AM
  Permalink
  0 likes

Post Reply