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Sythe gold = BTC

ryanboyd

ryanboyd

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Is sythe gold like btc. Im just saying the more people to post the more sythegold is created. When the sythe gold demand goes up the price goes up. But sythe gold can only go up my a fixed rate because of how often people post. Im not sure i just wanted a discussion on it. What does anyone else think
 
No. It is a currency, but has none of the technical features and standards Bitcoin has. It does not have an upper bound either: the more people post, the more Sythe gold there will be.
 
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ryanboyd said:
Is sythe gold like btc. Im just saying the more people to post the more sythegold is created. When the sythe gold demand goes up the price goes up. But sythe gold can only go up my a fixed rate because of how often people post. Im not sure i just wanted a discussion on it. What does anyone else think
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I'm not quite sure you meant by this, but Sythe Gold holds as much value as the community deems it to. Currently it has very little use so people mostly only use it for gambling purposes. It has a steady income into the community through posts and likes but as far as I know no current way to expend it. The value of it will increase when/if uses for it are added. In the meanwhile, you shouldn't worry too much about it, but if an opportunity presents itself for you to get some it wouldn't hurt to hold onto it.
 
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Sythegold is not like BTC at all imo. It can easily be generated. As said above it doesnt have a meaning for yet, and has been in the works before i even joined... as far as i know the only upcomming uses is for the RSPS Sythe server and some other forum bumping related things
 
Nothing like BTC :p.

I heard it will be used in the RSPS, is this true?
 
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ryanboyd said:
Is sythe gold like btc. Im just saying the more people to post the more sythegold is created. When the sythe gold demand goes up the price goes up. But sythe gold can only go up my a fixed rate because of how often people post. Im not sure i just wanted a discussion on it. What does anyone else think
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To some extent you could say their similar, people farm BTC, people farm posts and in turn get Sythe gold.

There's a lot of differences, but Sythe gold is worth incredibly less than BTC.
 
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Yes, sythegold will soon be added to Poloniex for trade and you will also be able to store it in coinbase!

Jokes aside there's an unpublished API to use sythegold with the RSPS to buy some cosmetic items.
 
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