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41
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by s11made on April 13, 2018, 09:47:39 am »
Quote from: NxtChg link=topic=6.msg1687#msg1687

You keep repeating the same "10000% inflation per year" argument over and over again, while I keep repeating that 1 trillion release can be done in various ways, it might not even be released at all.

UNCERTAINTY at its finest.
And what does uncertainty do to markets? Correct. It affects them negatively.
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While known factors are already reflected in efficient market prices, the main sources of market instability are unknown factors.

You can read it up:
Here https://www.bis.org/ifc/events/5ifcconf/slovik.pdf Or
Here https://www.sciencedirect.com/science/article/pii/S0264999317303474) And probably in 100 different papers and articles
42
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by NxtChg on April 13, 2018, 09:01:20 am »
Why would people buy it? If Satoshi Nakamoto would be releasing billions of bitcoins every months it’d have no value at all. That what will happen to Sim with trillion supply.

You keep repeating the same "10000% inflation per year" argument over and over again, while I keep repeating that 1 trillion release can be done in various ways, it might not even be released at all.

You're not listening. You just want to be mad.

So I don't see any point to continue being a parrot until you cool off.
43
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by dzarmush on April 13, 2018, 08:52:02 am »
Why would people buy it? If Satoshi Nakamoto would be releasing billions of bitcoins every months it’d have no value at all. That what will happen to Sim with trillion supply.
44
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by NxtChg on April 13, 2018, 08:49:10 am »
In case the 400 million gets released gradually we will suffer some share dilution

No, this is not a dilution, it's just delayed release, which will help you, investors, to maintain higher prices and avoid large dumps.

Obviously no other stake will be released until all 400 M are withdrawn, so you will be the only ones selling.
45
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by NxtChg on April 13, 2018, 08:46:31 am »
Nobody would buy it or want something to do with it.

I don't care if anybody buys it or not - that's ponzi mentality: the only use for a coin is to dump it on other suckers.

Currency is not a product you sell.

If I manage to create something of value, people will buy it. If not, then trying to sell it to them would be fraud.

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How do you choose what market cap should Sim have?

We should strive to maintain dollar parity, as this is the optimal level of prices - not too many zeros on either side of the number.

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Also what if someone start dumping? Are you going to buy all coins?

As I said, the goal is not to remove all volatility, but to smooth it.

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Where do you find money for it?

Part of the stabilization fund needs to be converted into the collateral asset(s). This will probably take some time.
46
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by Titulaer on April 13, 2018, 08:44:11 am »
What does it say about the coin if initial investors are not buying any on the release?

It says about the coin that it should be used in light of the promise that "blockchain technology" (buzzword alert, sorry...) will change the world for the better, instead of being a get rich quickly scam. The current hype is fun and makes some people a lot of money, but it is not sustainable in the long run.
47
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by dzarmush on April 13, 2018, 07:59:29 am »
Our shares would be diluted with 1B of new coins or 10B. With 1T coins they’ll be vanished.

Again, one should be absolute idiot to buy into coin that has 10 thousand percent inflation a year. Nobody would buy it or want something to do with it. With my prevoius ICOs I sometimes was buying more coins after the release if I saw a potential, but with such conditions I myself won’t buy anything. What does it say about the coin if initial investors are not buying any on the release?
48
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by Titulaer on April 13, 2018, 06:49:47 am »
So now we don't even have 0.04% but only 0.04% over time. Well played.

What I understand is that the initial supply will still be 400 million at launch. So us early investors will still have a relatively large share of Simcoin at the start. This share will get diluted over time, so I don't really see the problem if you sell early.

In case the 400 million gets released gradually we will suffer some share dilution, but only a small amount since the 1 trillion also will get distributed gradually. This can take years, or even decades. So plenty of time to take some profit.

It doesn't make sense if only a few people hodl most coins of a cryptocurrency. What you want is proper distribution and real life usage. It seems the majority of the people in crypto now are greedy traders who only care about making as much money as possible. This should change and it will change. Maybe adding a trillion of new coins doesn't help the greedy trader now, but later it might help the people who will actually use it as a medium of exchange.
49
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by dzarmush on April 12, 2018, 09:56:18 pm »
How do you choose what market cap should Sim have? Let’s say Sim is  released and traded at 50 satoshi, so its market cap is around 200 BTC. Then suddenly Coindesk notice it, publish an article and hundreds of people start buying Sim. What are you going to do? Release more and more new coins, dump them on newcomers in order to avoid volatility because you’re happy with 200 BTC market cap? I just don’t understand what do you have in mind and your insulting posts are not helping to understand your plan at all.

Also what if someone start dumping? Are you going to buy all coins? Where do you find money for it? Are you going to control all exchanges? How is that decentrilized in any way?
50
General / Re: [ANN][SIM] Simcoin - A Simple Coin
« Last post by s11made on April 12, 2018, 09:07:56 pm »

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On another note, if the distribution is set in the code, how can volatility be reduced. And volatility compared to what? Will the price be pegged to another currency like USD. Even then, what API will you call to get your current price in USD to increase or reduce the circulation supply.

You all are freaking out like little girls without even considering HOW exactly the stake will be released.

[...]

It will probably be impossible to implement in code, though, so some entity will have to control it.

I'm out. You accuse me of freaking out because i don't consider HOW distribution is done. The you continue by saying the HOW can't be coded into the coin.

And doing a gradual release of 400 M is also a good idea, I like it.

So now we don't even have 0.04% but only 0.04% over time. Well played.
Guess it's true, being genious and being insane is the same.
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