Re: [ANN] Sprouts🌱(SPRTS) - Revival Cryptocurrency with Hardfork [PoW/PoS]
You completely validate everything I thought would possibly happen. Also, why don't you mention the price of zeitcoin before the ultra low apr was activated?
Hard fork for zeit didn't increase the price much but now people earn a lot less. Everyone loses.
The good news the new sprouts team figured that out and will find more ways to burn sprouts to reduce supply over time but based on zeitcoin's history (which doesn't even have that much coin supply compared to sprouts) that will only soften the blow.
Forgive this intrusion into your forum, but since zeitcoin was mention I feel the need to correct an erroneous statement.
Zeitcoin activated the Ultra Low Inflation on Aug 11, 2017 (Less than 500 new coins per day)
our price on Aug 11th,2017 was US$ .000070
our peak price on Jan 9th,2018 was US$ .000674
Our price today on May 16th, 2018 is US$ .000084 (which is still higher than the august 11th price)
What the ULI has done for ZEIT is decrease the people's ability to just mint and dump and never sell their principle amount.
Those People that dumped on our peak price will never again attain enough coins to dump our price again.
Our price stabilized afterwards , and we maintained multiple markets with multiple coin pairings.
The Next time we skyrocket , those that dump before won't have enough coins to worry about and we will stabilize at a higher price, rinse & repeat until we reach the =$1 .
I just wanted to clear that issue up.
As far as Sprouts go, you have a strong buy support in your community, but even that can not sustain a continuous market where you have users constantly selling their stakes and just cashing out.
When I spoke with Kiklo about high interest & inflation, he explained it like this:
The reason banks were able to pay out 5% savings accounts or more in the past was simple, they were loaning that money out at credit card interest rates of 20% and higher.
So the Banks collect 20% pay you 5% and keep 15% , and they can do this because the people are using the credit cards.
Now apply that to Proof of stake coins, the coin pays 50% , new users come in and buy it up for a short time canceling out that 50% increase, but once they accrue enough they stop buying. Then you have an oversupply that causes a continuous downward spiral in price.
As the price spirals down you lose market pairings , 1st BTC, then LTC , and only Doge is left, you have decreased your markets instead of increasing your markets.
#1 rule of growing a coin is you want as many markets as possible with as many different pairs as possible.
So unless Sprouts offers something that can match the high interest it pays, then eventually you lose all markets as everyone has so many, there is no need to buy any.
In Comparison
Sprouts Maintain a high interest rate since Aug 10, 2017
Sprouts price on Aug 10th,2017 was US$ .000004
Sprouts peak price on Jan 7th,2018 was US$ .000032
Sprouts price today on May 16th, 2018 is US$ .000000474
Only 1 usable market with a doge pairing.
Sorry for the interruption , and if anyone wants to talk about Ultra low inflation verses High, feel free to PM me.
Good Luck with Sprouts, wish you guys the best.
Hard fork for zeit didn't increase the price much but now people earn a lot less. Everyone loses.
The good news the new sprouts team figured that out and will find more ways to burn sprouts to reduce supply over time but based on zeitcoin's history (which doesn't even have that much coin supply compared to sprouts) that will only soften the blow.
I might be steering towards this camp now. So far coinexchange price has not increased.
Zeitcoin did not increase in price as the research shows and they lowered the apr.
Zeitcoin did not increase in price as the research shows and they lowered the apr.
Forgive this intrusion into your forum, but since zeitcoin was mention I feel the need to correct an erroneous statement.
Zeitcoin activated the Ultra Low Inflation on Aug 11, 2017 (Less than 500 new coins per day)
our price on Aug 11th,2017 was US$ .000070
our peak price on Jan 9th,2018 was US$ .000674
Our price today on May 16th, 2018 is US$ .000084 (which is still higher than the august 11th price)
What the ULI has done for ZEIT is decrease the people's ability to just mint and dump and never sell their principle amount.
Those People that dumped on our peak price will never again attain enough coins to dump our price again.
Our price stabilized afterwards , and we maintained multiple markets with multiple coin pairings.
The Next time we skyrocket , those that dump before won't have enough coins to worry about and we will stabilize at a higher price, rinse & repeat until we reach the =$1 .
I just wanted to clear that issue up.
As far as Sprouts go, you have a strong buy support in your community, but even that can not sustain a continuous market where you have users constantly selling their stakes and just cashing out.
When I spoke with Kiklo about high interest & inflation, he explained it like this:
The reason banks were able to pay out 5% savings accounts or more in the past was simple, they were loaning that money out at credit card interest rates of 20% and higher.
So the Banks collect 20% pay you 5% and keep 15% , and they can do this because the people are using the credit cards.
Now apply that to Proof of stake coins, the coin pays 50% , new users come in and buy it up for a short time canceling out that 50% increase, but once they accrue enough they stop buying. Then you have an oversupply that causes a continuous downward spiral in price.
As the price spirals down you lose market pairings , 1st BTC, then LTC , and only Doge is left, you have decreased your markets instead of increasing your markets.
#1 rule of growing a coin is you want as many markets as possible with as many different pairs as possible.
So unless Sprouts offers something that can match the high interest it pays, then eventually you lose all markets as everyone has so many, there is no need to buy any.
In Comparison
Sprouts Maintain a high interest rate since Aug 10, 2017
Sprouts price on Aug 10th,2017 was US$ .000004
Sprouts peak price on Jan 7th,2018 was US$ .000032
Sprouts price today on May 16th, 2018 is US$ .000000474
Only 1 usable market with a doge pairing.
Sorry for the interruption , and if anyone wants to talk about Ultra low inflation verses High, feel free to PM me.
Good Luck with Sprouts, wish you guys the best.
Balistar. Sprouts is not cutting the APR to the point that people can't stake millions ! a day or week. The coin you talk about cut the stake down to thousands. You will still be able to stake huge amounts of sprouts. Even open multiple wallets. It will be much harder for people to grow there stake beyond a certain point like hundreds of billions. And why would any one want grow there stake beyond hundreds of billions if it will be worthless.
People will be staking in the millions per day and week ! But not billions a day !