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Author Topic: [ANN][SIM] Simcoin - A Simple Coin  (Read 34295 times)

Titulaer

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #480 on: April 13, 2018, 08:44:11 am »
+1
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.

NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #481 on: April 13, 2018, 08:46:31 am »
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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.
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NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #482 on: April 13, 2018, 08:49:10 am »
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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Obviously no other stake will be released until all 400 M are withdrawn, so you will be the only ones selling.
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dzarmush

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #483 on: April 13, 2018, 08:52:02 am »
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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.

NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #484 on: April 13, 2018, 09:01:20 am »
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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.
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s11made

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #485 on: April 13, 2018, 09:47:39 am »
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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

NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #486 on: April 13, 2018, 09:52:57 am »
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UNCERTAINTY at its finest.
And what does uncertainty do to markets? Correct. It affects them negatively.

And why exactly do you assume that this uncertainty will continue after release?
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s11made

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #487 on: April 13, 2018, 12:30:09 pm »
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UNCERTAINTY at its finest.
And what does uncertainty do to markets? Correct. It affects them negatively.

And why exactly do you assume that this uncertainty will continue after release?

If you could remove the uncertainty after the release, you could also do it before.
Why does the release change anything?

NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #488 on: April 13, 2018, 12:51:36 pm »
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I don't even understand what you're saying.

I've put an idea forward for discussion. At some point one or more decisions will be made. Probably before release, because it doesn't make much sense to do it _after_.

Why you are crying about some "uncertainty that hurts markets", I have no idea.

Both of you need to seriously cool off and get your heads in order.

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Titulaer

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #489 on: April 13, 2018, 01:00:03 pm »
+1
Both of you need to seriously cool off and get your heads in order.


s11made

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #490 on: April 13, 2018, 03:48:28 pm »
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Do your thing. I hope you succeed.
From my viewpoint, compared to the initial plan, this new plan sucks.
Maybe it is now set in stone already, maybe it will change. I'll check back in a year or two. Should be eough time to cool off.

mcjavar

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #491 on: April 16, 2018, 06:21:07 am »
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How about returning the BTC-s to the initial investors and creating a new ICO for this new project?

NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #492 on: April 16, 2018, 10:41:33 am »
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How about returning the BTC-s to the initial investors and creating a new ICO for this new project?

Yes, that is something we've discussed in slack, but most of the ICO money was spent during these 4 years of development, so the only kind of return possible is some sort of old-to-new shares conversion.

Still, it's an interesting option.
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Titulaer

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #493 on: April 16, 2018, 04:05:57 pm »
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[...], so the only kind of return possible is some sort of old-to-new shares conversion.

There are some examples of coins who did this successfully, like Crypti -> Lisk. A big difference though, is that Crypti had a working product.

NxtChg

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Re: [ANN][SIM] Simcoin - A Simple Coin
« Reply #494 on: April 16, 2018, 04:10:36 pm »
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A big difference though, is that Crypti had a working product.

Obviously there can be no secondary IPO without a working product...
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