So till now has BITSCHOOL reach a price point for its tokens?
Hi hotcoin1234,
I'm not sure what you're asking. If you are asking about our token price in terms of dollar, our BSCH is tied to ETH and the equation is 1ETH = 6000BSCH, so price fluctuates with the ETH movements. So today we checked and the ETH is about $850, that makes our BSCH about $0.14 worth. Hope this answered your question, if not, let me know anytime. Have a great day^^
Best,
BitSchool
Can i also see it in a way that BSCH is affected by the price movement. What if the price of the eth double, aint your BSCH will become more expensive and your total hardcap will double? Or do you have any backup plans if such situation happens. Do take note that it has happened during the 2017 nov to dec period whereby eth increased by x3.
Hi FunnyAttitude,
Totally right, as our BSCH is tied to ETH, that situation can happen and vice versa. But I think this is the same for any financial instruments. For instance, IPOs have the same movement issues and that's why people invest in stocks actually...to capture the upturn. And when the market turns the other way, people loose money. This is why companies adopt hedging mechanisms and that's how investment banks earn their fees. The same logic applies to coins (although whether to treat coin as securities or currency is uncertain in some countries and even those which implement some kind of regulations, they differ) and we will have to plan some hedging mechanisms so that a significant drop in our coin's market value would not negatively affect our development plans. However, as you mentioned, if our coin triples, it might be a possibility that we will have more fund than we need, but it would be better than having less. Also even in that case, like I mentioned, we have to prepare for any potential drop in the coin's value, again, so that it would not hamper our development roadmap. One aspect we implemented to help stabilize our coin value is our Embedded Put Option and the 50% discounts extended to our AI products. When we designed this measure we hoped it would help to keep our coin's value even during times when our token's market value drops significantly. FunnyAttitude, if you have any good ideas to stabilize the coin value, it would be real nice if you could share them with us^^; Would be an interesting discussion.
Best,
BitSchool
Thanks for explaining, i am actually referring to investors perspective. For example, i was involved in one ico whereby i invested 10eth when eth was $300 each. So to me, each tokens that i got is $0.10. However, during the crowdsale, the eth price is about $900 and the tokens are still pledge to eth, then those investors participating in crowdsale is very angry because now each token become $0.30 and they are exposed to dumping by presale.