Re: [ANN][SCRYPT] Klondike Coin ★ 16 coins block / 19mil total ★ 0% Premine [KDC]
What we are trying to do is create nice opportunities for our miners to buy products, to do something with there coins, and this is something that a lot of other coins cannot do.
The marketing opportunities are great! A prepaid VISA card is an awesome idea KDC-> EUR or KDC -> USD in an easy direct way to be rewarded for your mining efforts, so is a STEAM card.
So while one hand has done a lot of work providing transaction opportunities for the miners other than exchanging KDC for BTC or other coin which is great, the other hand destroyed the mining potential of the coin by drastically reducing the rate of payment for NET HASH to a level that puts the coins security in jeopardy, and restricts participation to total NET HASH under 100 Mh/s
Somehow when ever I try to explain this I am labeled a complainer.
Lets not kid ourselves here, nearly every ALT COIN except a few will slide to zero. The price of x coin three months ago versus today is not proof of a 'bear' market that all coins will recover from but rather the slow thinning of the heard that will end as all bubbles do with a crash. Coins have no tangible assets, produce nothing, pay zero dividends, and have zero earnings. There is nothing to create a BULL market outside of speculation and that only plays for so long. To succeed we must live in the realities of the world.
In order to survive a coin needs to reward miners the market rate for hash, with a stable price that allows the average person to understand and relate its value.
Behavioral Econ calls this ability to relate value of a new concept 'anchoring'. Ideally a coin would have a stable value of .01 USD allowing it to be a digital storage of wealth accessible to the masses who can easily equate value for purpose of exchange.
Having said that, realize that before the fork the reward for hash was fair and the value per KDC was .02 USD. So there was plenty of room to run down to .01USD while marketing efforts ramp up.
I realize everyone wants to 'get rich' and see the value explode, but price volatility is a bad thing for an exchange currency, but good for a short term pump and dump.
Now I'm sure everyone will read this and think I'm crazy because I'm suggesting the coin 'loose' value to .01USD, it may seem counter intuitive but lots of things in the world are.
I totally agree with you on this, There was no reason for a fork, the price would never just increase because there is less coins produced. People seem to want to ride the roller coaster that is pumping and dumping, we had a solid 4k sat price for a long time but everyone seem to fixed with the increase to 30-40k sat, I am now a community leader, an online merchant store owner and soon another website - ALL for KDC and I started all this AFTER the fork. It gave me some more interest in the coin that there was now less coins produced but it later came to me, who would buy this coin if there is nothing to do with it?
Someone said earlier, the things that are available to buy with fiat doesnt make a coin valuable if you can buy it in that coin. MAybe we should focus more on that the whole thing about Alt coins - Most people are in it to profit from it, the whole thing about cryptocurrency is a gold rush. That is why I am bringing Reloadable VISA cards and ONLY making them available to buy and "refill" in KDC, probably this will add some volume to the exchanges and some more circulation of the coin.
Hopefully people can realize that it is kind of a big thing.