Re: [ANN][SHARE]ShareCoin - Pure POS - MultiPool - Official exchange launched
Please give a rational argument to back up how a dev that gave away all the coins as well as giving away all the profits of fee share is killing the coin and exchange.
To be honest, I don't want to spread FUD. I am a rational man.
100,000 fee shares exist.
Suppose each fee share worth 0.05 btc, that corresponds to a market cap of 5000 btc
Look at cryptomarket cap. This makes feeshare to the top 20, between #18 and #19.
How much trade does it require to make 5000 btc by an exchange?
With trading fee of 0.1%, we need 5,000,000 btc trading, suppose we have the volume of 500 btc, we need 10,000 days, more than 25 years (a optimistic estimation, because there are so many exchange sites, sharex may only get 100 btc volume for a while, another concern is few exchange can exist for a long time, see Gox and coinex).
Input/return is too small for such an investment.
By the way, IMHO, making feeshare/Btc market is not a good idea for an exchange site at an age of only 1 week (Ponzi?).
Focus on how to improve the exchange, promote the sharecoin is the importance.
50% of the revenues from ShareXcoin are given to the community for free. But it's doesn't happen in an instant.
ShareCoins generated from FeeShare are re-distributed directly to ShareCoin holder through exchange's interest rate.
All FeeShares are sold at a fixed rate: 20,000 ShareCoin per FeeShare. This rate will never change.
All existed ShareCoin need to circulate 10 times for all FeeShare to be purchased.
So basically, the exchange is now valued at 10 times less than your calculation.
so if someone owns 1 FeeShare, they will get the same interest that someone would have for 20,000 ShareCoins stored in the exchange?
so they get 12,000 ShareCoins in a year (for the first year)?
So 12,000 SHARE + 0.001% of ShareXcoin's profits?
interesting mathematics, that's only user AcidReniX wrote 18 posts (of 19 total) in this thread
Not sure if that is a positive or negative post
Well I've had a forum account for a while but never really needed to post anything on these forums. Saw a lot of potential with this coin and then saw some flaws in the FeeShare concept.
But I'm learning new information about the coin each time and thought I'd share what I learn.
What I just learnt was that FeeShares gain POS interest just like ShareCoins which means that if you're planning to hold ShareCoins for a while, you might as well hold them as FeeShares (the only downside being that you can't sell FeeShares at the moment (and not sure if there are plans to enable it later)).
Interesting times with this coin
