Quote from: rugrats on July 01, 2014, 03:29:38 PM

Quote from: SquareDev on July 01, 2014, 03:11:48 PM

Quote from: Revelation on July 01, 2014, 03:08:17 PM

Quote from: SquareDev on July 01, 2014, 02:58:37 PM

Quote from: anarchyx914 on July 01, 2014, 02:56:17 PM

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.

wow, this is really ridiculous. Why has Bittrex agreed to list this scam? The guy is selling 3.5mln coins out of total 5mln. It is better to have these 3.5mln as a premine, at least there is some chance that the dev will have some reasons to support the coin, but man, he is selling almost all of the supply on the market and people are ok with this?