Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Futurecoin|Groestl-Skein-SHA256|Crypto Vesting|Launch Thread|REQUIRED CLIENT UPDATE!
by
fernando
on 02/06/2014, 22:52:25 UTC
kFC feature exists  Huh
how ?

Devs use this kilo thing - kFC: 1 kFC = 1000 FC

When an exchange adds Futurecoin it's traded in kFC. So if 1 kFC is sold for 1 satoshi it means 1 FC is sold for 1/1000 satoshi.

Usually price can't be lower then 1 satoshi per coin, it's the minimum price for any cryptocurrency. Never before Futurecoin something was sold for lower than 1 satoshi. But Futurecoin with its kFC feature was selling for 1/10 satoshi per coin.

While true that a minimum coin price is one satoshi on a BTC exchange, the truism is meaningless.  You have to have people wanting to buy at that price.  What good is a "value" of 1 sat if nobody is willing to buy?  I have seen coins go to one sat and shortly thereafter the buy order book dries up.  GPUC and HEX are examples that come to mind.  After that, they are only able to trade on other markets such as LTC, or get delisted entirely.

So, there is really no such thing as a 1 sat minimum price.



Also, I think that there is at least one exchange that trades in mBTC.

I haven't seen a single exchange like that.

Futurecoin was going pretty good, it was popular enough to be traded at least at 5-10 satoshi. I think most people was confused with kFC. I myself thought that those offers at 50-100 sat was for FC. I think lot of people who set those offers also thought it's for FC, not kFC. That was the problem why it wasn't ever traded.

Coinedup has mBTC markets. Not that I believe it's a good place to be.