Does anyone realize this about the coin?
The IPO is going to suppress the coin price to 750 satoshi until its all gone.
750 satoshi x 150 coins (block reward) = $0.75 per block (compared to say RAZOR at $50 a block)
It's going to be cheaper to buy into the IPO than to mine. As a matter of fact, you'll likely LOSE money on electricity to mine this coin until the entire IPO is bought.
Mined earnings are contingent on the entire IPO being bought/sold, seems like a scam coin to me.
The goal is to have the IPO distributed a few hours after the launch of the coin. This will dry up supply and drive demand. It's a different model, we will see!
Do you even understand how the market works? You will dump the IPO coins on the market + miners will dump. There is no support here, pure dumping.
Yep I understand how it works. If there is market interest in the coin, buy orders will support the coin at 750 satoshis.
We will place the entire amount at a sell order of 750 sats. If the market is interested, they will buy.
What is the incentive for miners then?
70% of coins are budgeted for the 'IPCO', which means the market will be flooded with 3.5 million coins at 750 sats.
Miners will have to compete with a 70% premine.
I expect the hashrate will be really low for this - not good for a new coin, because hashrate is one of the key indicators for serious investors and whales.