Announcement April Fools 2018 - New BYC Cryptocurrency: ChicKoin

[Lazy Farmer]

Would you guys be serious for just one minute here? Sheesh! Toss a new idea out there and before it hits the ground there’s a frenzy! It’s like watching a herd of chickens when they spot a nightcrawler! Before we go off half-cocked, if you’ll excuse the pun, there are some SERIOUS questions that need to be answered here.

@Nifty-Chicken, in all of your preliminary research into this ChicKoin idea, did the issues with a similar system in Scandinavia turn up? They tried this cyber-currency idea a few years back but the results were mixed.....while there was some initial success, the overall issues were too difficult to overcome. There was confusion when people learned that the cyber-currency was accepted at some businesses but not others. Shops that had the phone readers already were quick to try jump onboard, only to find that the FjordKrones were limited to specific on-line-only stores.

That led to another problem...many folks who had them opted to hoard them, setting them aside in hopes that by the time their use became widespread for all goods and services they’d have amassed a small fortune in them. FjordKrones being hoarded were not FjordKrones circulating in the economy - which led to another issue.

And that last issue was black-market FjordKrones trading.....people buying the currency being stockpiled for a fraction of its worth. The holders, desperate to cut their losses when they realized the limits, would sell their stashed FjordKrones believing that in the end they would come out on top when the worth of their cash-at-hand exceeded the value of the FjordKrones they’d foisted off on their countrymen.

Look, I don’t want to be the nay-sayer here, but frankly I don’t think enough research went into this before it was launched. It’s all fine to say that use will be limited to the BYC store but like so many innovations, intentions for use can change with the wind. I’ll be interested to follow this, but I think when the Private Message comes into my message box inviting me to be in the second round of testing, I’ll pass. Thanks.

craigslist has a similar system implemented
It is offered as an option. Having it offered optional allows skeptical persons the option not to participate at their own free will.

 

[TwoCrows]

Why? I still am lost. It goes up and down like stock?

Yes its similar to the stock market and demand. The more people that are interested, the more ChicKoins are circulated, the more value they have. Its virtual money, you don't actually exchange coins, it just comes out of you ChicKoin wallet. The value rises and falls just as stocks due depending on how many are circulating, how many people posses them, how much is being spent.

 

[Blooie]

craigslist has a similar system implemented
It is offered as an option. Having it offered optional allows skeptical persons the option not to participate at their own free will.

Yeah, I kinda got the impression that participation in the ChicKoin program would be optional, too. So I plan on exercising my option to be skeptical. I’m not at all familiar with Craigslist, although I do know basically what it is. I have never in my life even seen it! In an area where there are only 2 stoplights in the entire county, one in Lovell and one in Greybull, and where our whole town has to go to the post office to pick up mail because we have no house-to-house service, folks somehow know you’re selling something before you’ve even decided for sure!

 

[Lazy Farmer]

Yeah, I kinda got the impression that participation in the ChicKoin program would be optional, too. So I plan on exercising my option to be skeptical. I’m not at all familiar with Craigslist, although I do know basically what it is. I have never in my life even seen it! In an area where there are only 2 stoplights in the entire county, one in Lovell and one in Greybull, and where our whole town has to go to the post office to pick up mail because we have no house-to-house service, folks somehow know you’re selling something before you’ve even decided for sure!

We sell a lot via CL. eggs, chicks, chickens, pigs.. but never clicked on the Cryptocurrency option on there. We deal w/cash on the barrel.. COB.
CL is a valuable tool for local Farmers.

 

[perchie.girl]

Are you printing up your own Chickoin? I think that's called "counterfeiting"

Wouldn't that be Chickerfitting.... Just sayin

 

[Wishing4Wings]

Have any of you actually met this Nifty character in person? I don't know, but this sure sounds like Russian cyber meddling to me. Beware the ChicKoin. They're just out to steal your money!

 

[perchie.girl]

Can someone please explain this? I have not been into crytpocurrency or whatever. So you pay BYC for this chicken coin? Why not just use money for stuff?

 

[TwoCrows]

Have any of you actually met this Nifty character in person? I don't know, but this sure sounds like Russian cyber meddling to me. Beware the ChicKoin. They're just out to steal your money!

The BYC mafia?

 

[perchie.girl]

Yes. And the more members that get involved in ChicKoin make the value go up. Lets say today your 1 ChicKoin is worth $20 with 10 members owning ChicKoin, if 20 members sign up, your 1 ChicKoin would then be worth $40 dollars!

 

[perchie.girl]

Would you guys be serious for just one minute here? Sheesh! Toss a new idea out there and before it hits the ground there’s a frenzy! It’s like watching a herd of chickens when they spot a nightcrawler! Before we go off half-cocked, if you’ll excuse the pun, there are some SERIOUS questions that need to be answered here.

@Nifty-Chicken, in all of your preliminary research into this ChicKoin idea, did the issues with a similar system in Scandinavia turn up? They tried this cyber-currency idea a few years back but the results were mixed.....while there was some initial success, the overall issues were too difficult to overcome. There was confusion when people learned that the cyber-currency was accepted at some businesses but not others. Shops that had the phone readers already were quick to try jump onboard, only to find that the FjordKrones were limited to specific on-line-only stores.

That led to another problem...many folks who had them opted to hoard them, setting them aside in hopes that by the time their use became widespread for all goods and services they’d have amassed a small fortune in them. FjordKrones being hoarded were not FjordKrones circulating in the economy - which led to another issue.

And that last issue was black-market FjordKrones trading.....people buying the currency being stockpiled for a fraction of its worth. The holders, desperate to cut their losses when they realized the limits, would sell their stashed FjordKrones believing that in the end they would come out on top when the worth of their cash-at-hand exceeded the value of the FjordKrones they’d foisted off on their countrymen.

Look, I don’t want to be the nay-sayer here, but frankly I don’t think enough research went into this before it was launched. It’s all fine to say that use will be limited to the BYC store but like so many innovations, intentions for use can change with the wind. I’ll be interested to follow this, but I think when the Private Message comes into my message box inviting me to be in the second round of testing, I’ll pass. Thanks.

There there