Re: [SPC][PoF] SaveCoin | Proof of Fund Coin | 64% Interest Annually / 0.137% Daily
I think this coin is going nowhere at the moment. And the biggest problem is this huge premine. Im talking about this 1 million (not 19 million reserved for PoF). Im a big SPC fan and still holding more than 1k, but lets come to reality - nobody will invest and work for SPC exchange support with such a huge premine.
First of all there is a flaw on SPC how PoF is distributed, it appears to be manual or half-manual and nobody can know if one day there will be no payout or even worse it can be dumped at exchanges (Im not telling it will happen, just it might happen, and if something might happen then this is a risk). So PoF idea is great but gives some additional risk. And then we come to premine which in this moment is about 94% (1 million/(1 million + 60k)) and in the end of mining will drop to 50% (1 million /(1 million +1 million))
So Suresh lets say SPC will get 100 million $ market cap (which will not happen) then basically you (devs) will get 50 million of this (too much
).
And lets look on such scenario: you move from that biggest premine ever
47,5k coins to mining bag, then there would be 1047.5k SPC to mine. Next 902.5k coins would be moved then to PoF reserve (47.5k x 19) and finally it leaves you (devs) 50k premine. Then SPC gets 100 million market cap (might happen), and you have 4.77 million $ (enough 
).
I have 1k SPC and will not mine or get a single SPC more (only from PoF - one risk (wrong use of PoF coins) is enough for me, and second with 50% premine and dump to 1 satoshi is just too big.
Im not saying you what to do, Im just talking about probability and giving my opinion. You have 0.00000001% chance to get 50 million $ or 0.001% to get 4.77 million $. Red or blue pill
And please dont take this post too serious its just an altcoin.
First of all there is a flaw on SPC how PoF is distributed, it appears to be manual or half-manual and nobody can know if one day there will be no payout or even worse it can be dumped at exchanges (Im not telling it will happen, just it might happen, and if something might happen then this is a risk). So PoF idea is great but gives some additional risk. And then we come to premine which in this moment is about 94% (1 million/(1 million + 60k)) and in the end of mining will drop to 50% (1 million /(1 million +1 million))
So Suresh lets say SPC will get 100 million $ market cap (which will not happen) then basically you (devs) will get 50 million of this (too much
).And lets look on such scenario: you move from that biggest premine ever
47,5k coins to mining bag, then there would be 1047.5k SPC to mine. Next 902.5k coins would be moved then to PoF reserve (47.5k x 19) and finally it leaves you (devs) 50k premine. Then SPC gets 100 million market cap (might happen), and you have 4.77 million $ (enough ).I have 1k SPC and will not mine or get a single SPC more (only from PoF
- one risk (wrong use of PoF coins) is enough for me, and second with 50% premine and dump to 1 satoshi is just too big.Im not saying you what to do, Im just talking about probability and giving my opinion. You have 0.00000001% chance to get 50 million $ or 0.001% to get 4.77 million $. Red or blue pill
And please dont take this post too serious its just an altcoin.