Re: [ANN][SHARE]ShareCoin - Pure POS - MultiPool - Official exchange launched
19178.08 BTC Daily Transaction volume SharexCoin needs to earn YOU 0.07 BTC back in one year
It's 15x more than Cryptsy 24h trade volume
That's the point. With ShareCoins at 350 satoshis each, it's actually really stupid to purchase FeeShares because it would take you years to get the same BTC back that you would spend in FeeShares. I bought FeeShares as soon as I could and then did the maths and realised my huge mistake. I can't see the 3 FeeShares I own being able to make 0.2 BTC by the end of this year unless the system changes.
How is a 50% return in 1 year stupid?
The returns are infinite if you were given 3 FeeShares worth of ShareCoin as well.
That said, we don't know what the return is because we don't know the current revenue. If I was sure it would be 50% in a year I would buy MANY of them. Also, if the exchange does very well, then the FeeShares / BTC market will raise the price so in addition to dividends you are getting growth.
While everyone has said how expensive FeeShares are, their price has only gone up, against the expectations of many on this thread after the per FeeShare price was posted.
50% return in one year? ShareXCoin would need to process 19178 BTC in transactions EVERY DAY. That means Bitcoins worth $7,671,200 will need to be transferred in the exchange (so SharexCoin earns 0.1% transaction fee) every day, for one year.
How many bitcoin exchanges do you think process that number of transactions (adding up to that volume of BTC)? This exchange will have to be bigger than virtually every exchange in existence just to earn the coins back from buying the FeeShares at this current price...
No idea the volume numbers. But, I do know, the revenue is actually .2% per transaction. Remember, the buyer and seller each pay 1% fee. So you should double all your revenue calculations.
Right but the fee shares are more expensive than similar revenue sharing stocks from other exchanges. Why should they be almost double the launching price of Cryptsy's?
That's just how people priced them wrt BTC. They set the price at 20k SHARE and gave away 100,000,000 SHARE or 5000 FeeShares. Seems like the market is setting the price, not the exchange. As the dev said, he didn't expect the price of SHARE to start off so high. He was talking about starting Buy orders from the MultiPool at 1 Satoshi. So, he was thinking a FeeShare would be 20k Sat...
I mean technically, FeeShares are very good for the life of the coin. It is much better to invest in ShareCoins than FeeShares because if the price of ShareCoins ever drops really low, lots of people will buy the cheap ShareCoins and buy FeeShares. Then the ShareCoin price will rise again.
This makes ShareCoin VERY good... but FeeShares are just a terrible investment right now, unless the exchange becomes a world leader, or changes are made to the system (which the dev said isn't going to happen).