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.
This coin is going places, it's just that I've been busy working on the wallet software and keeping it under wraps. There's still excitement over SPC and new features and uses are being thought of.
As for the pre-mine, it makes no sense to dump all of the 1M coins for me, as I stated in the FAQ, doing that is not beneficial to me. Plus you're assuming that there are going to be buyers who will buy at such low prices, why would they though? If I'm dumping then buyers will know that the coin has no future, therefore buyers will flock away from SPC as it'll be dead if I took that action.
$100 million market cap is a crazy dream (
), it might be possible but until then I'll keep everything the same way as it is. The system to make payments is automatic, just like regular banks who make interest payments. If they're capable of making interest payments then so is SPC. I understand your opinion, but every day that percentage of total SPC owned by the developers is lowered, in 4/5 years or so it'll be 1M out of 21M.
Anyway, wallet features are being worked on, and SPC is still alive and kicking, just hold tight as new wallet will be coming soon
