Post by Admin on Dec 31, 2020 13:43:09 GMT
A sort of analysis, warts and all.
past
A little look back:
BADcoin Block 0 is dated Nov. 12, 2018. blockingbad.com/block/00000631170923bb3d28727d9a8b3166ec0c5db3bc816a2be27657d6caa93942
BADcoin got started for real in the Spring of 2019. It was announced in March badcoin.net/2019/03/11/bad-announcement-at-sxsw/ and on April 12, 2019 block 1 was mined blockingbad.com/block/00000c0b8d7b08844beffbbd0589b6da5bbeaaa94495fa0b72bdee75e7327216. It included a pre-mine of 6 billion BAD. That 6 billion pre-mine is 28.6% of 21 billion BAD that may ever exist. That’s a big chunk of monetary policy. In my view, this does not help the “tokenomics” (a silly word, it’s still economics).
The pre-mine was apparently to swap the new BAD from the old Bitshares BAD or given to guests and friends. 2 of the 6 billion were also to be retained by the Bad Crypto Podcast hosts. It is assumed that the hosts control the keys to all of the remaining, unswapped or ungiven BAD. bitcointalk.org/index.php?topic=5140081.0
The Bitcointalk announcement states that in May of 2019 there were over 300 BADcoin miners. This speaks to the quick growth and enthusiasm BAD had early on. Though a bit dated now, that’s still promising. It shows that there is a real interest, especially during 2019’s “Crypto Winter.”
present
Currently, BADcoin is stuck. It is on no exchanges. There is no liquidity. I’m unsure how to gauge the number of nodes or miners.
On the good side, it is still very mineable. Certainly this is one, or the, most admirable characteristics of BAD. It’s mineable with old PCs. It is even mineable with a Raspberry Pi: badcoin.boards.net/thread/40/badcoin-raspberry-cross-posting-general
With such wide-open usability, I see BADcoin as a very untapped resource. It still has potential.
future
So, what’s the point of BAD?
People have commented that right now BADcoin is for learning. It is an educational tool, a place for someone to try out mining, to try out sending and receiving cryptocurrency. To me, that’s a fine and admirable use-case.
I’ve used it for the fun of it, which is my use-case.
Personally, I see both (1) learning, and (2) fun, as very real and legit use-cases.
To be something more, there would be likely need to be steps taken. Following are some ideas in no order:
past
A little look back:
BADcoin Block 0 is dated Nov. 12, 2018. blockingbad.com/block/00000631170923bb3d28727d9a8b3166ec0c5db3bc816a2be27657d6caa93942
BADcoin got started for real in the Spring of 2019. It was announced in March badcoin.net/2019/03/11/bad-announcement-at-sxsw/ and on April 12, 2019 block 1 was mined blockingbad.com/block/00000c0b8d7b08844beffbbd0589b6da5bbeaaa94495fa0b72bdee75e7327216. It included a pre-mine of 6 billion BAD. That 6 billion pre-mine is 28.6% of 21 billion BAD that may ever exist. That’s a big chunk of monetary policy. In my view, this does not help the “tokenomics” (a silly word, it’s still economics).
The pre-mine was apparently to swap the new BAD from the old Bitshares BAD or given to guests and friends. 2 of the 6 billion were also to be retained by the Bad Crypto Podcast hosts. It is assumed that the hosts control the keys to all of the remaining, unswapped or ungiven BAD. bitcointalk.org/index.php?topic=5140081.0
The Bitcointalk announcement states that in May of 2019 there were over 300 BADcoin miners. This speaks to the quick growth and enthusiasm BAD had early on. Though a bit dated now, that’s still promising. It shows that there is a real interest, especially during 2019’s “Crypto Winter.”
present
Currently, BADcoin is stuck. It is on no exchanges. There is no liquidity. I’m unsure how to gauge the number of nodes or miners.
On the good side, it is still very mineable. Certainly this is one, or the, most admirable characteristics of BAD. It’s mineable with old PCs. It is even mineable with a Raspberry Pi: badcoin.boards.net/thread/40/badcoin-raspberry-cross-posting-general
With such wide-open usability, I see BADcoin as a very untapped resource. It still has potential.
future
So, what’s the point of BAD?
People have commented that right now BADcoin is for learning. It is an educational tool, a place for someone to try out mining, to try out sending and receiving cryptocurrency. To me, that’s a fine and admirable use-case.
I’ve used it for the fun of it, which is my use-case.
Personally, I see both (1) learning, and (2) fun, as very real and legit use-cases.
To be something more, there would be likely need to be steps taken. Following are some ideas in no order:
- There needs to be liquidity. This means it needs to be on an exchange. Of course, this invokes the chicken and the egg. Exchanges don’t want inactive coins. Coins struggle to get active without being on an exchange. This is not a simple fix.
- There should be some transactions. Someone recently tried to stir up a BADcoin pizza purchase. Although I don’t think it went through, the concept is sound. A real-world transaction transmutes to real-world value.
- If an exchange is something beyond the community’s control, perhaps peer-to-peer exchange could occur. I’m not sure how this might take place exactly. True P2P is great, but there must be trust. For instance, if Alice wishes to pay some DOGE for 10,000 BAD, she could negotiate a price with Bob. But then, either Alice must send Bob the DOGE first, or Bob must send Alice the BAD first. The first sender would then have to trust the other to complete the exchange. It would certainly work if both were honest about it, but it’s not ideal. Maybe there are interfaces that exist to grease the cogs of such a transaction. But, cross-chain things like this likely are tricky.
- There’s been some recent buzz about the possibility of a mobile wallet. No doubt this would be a big boost to BAD. Maybe a bounty could be drummed up and offered to incentivize such an undertaking (?).
- The site at badcoin.net could use some updating. Some things, like the swap are outdated and the contributors section could likely be improved. The more up-to-date and professional looking the better.
