Quote from: Suresh Matsui on June 17, 2014, 08:30:45 AM

Quote from: tuvokcoin on June 17, 2014, 01:32:13 AM

SaveCoin's Market Cap

SaveCoin's Market Cap was briefly set today at approximately $867,000 on coinmarketcap.com. Anyone see it?

This was because they included the 20 million pre-mined coins into the available supply. Later in the day, they decided to remove the pre-mine and make the available coin supply 89,689 making our Market Cap $5,290. This is a big difference and exposes the confusion over our coin supply.

So what is our correct available coin supply since Proof of Funds is a new concept to many?

1. 89,689 which corresponds to 1 new coin per block = Market Cap of $5,290

2. 20,089,689 which is number 1 plus the 20 million pre-mine = Market Cap of $1,185,000.92

3. 89,689 + interest paid to date + 1 million pre-mine (since the unpaid interest is not technically available coin supply) = Market Cap of $67,349.83

I think our market cap should be accurate for future investors. I also think option #3 is the most accurate.

Anyone concur?

The premine should be included as it is being distributed as interest payments. Also out of the coin that I hold, I'm using that to pay bounties and donations/giveaways so just only counting the mined coins is wrong as there are more coins in circulation than what's been mined.

I'm not sure who was behind the voting on coinwarz but I do hope that something like this won't happen again. I know a lot of folks here are excited (and by looking at the current price increase, I can see that excitement) but let's build up SaveCoin in a good way so that we have a positive reputation! I am happy to see SaveCoin in second place already though!

Rome was not built in a day, neither was Bitcoin but with patience and hard work by spreading awareness, we'll get there! Grin

The community effort so far is amazing!

Market cap should consider coin in circulation, not the total amount of coin. - so i think the third is the good one (market cap of $67349)