Re: [ANN] Syscoin - Business on the Blockchain - Presale Started!
A few observations:
The general consensus around here appears to be that the IPO is overpriced. I personally feel the price is decent, but could definitely use a bit more room for growth one way or another (by reducing max coins is an interesting idea). However, the appearance of the IPO being overpriced is not good;
The general consensus around here appears to be that the IPO is overpriced. I personally feel the price is decent, but could definitely use a bit more room for growth one way or another (by reducing max coins is an interesting idea). However, the appearance of the IPO being overpriced is not good;
I was among those who had concerns about the IPO price based on some calculations I'd seen earlier in the thread - which were erroneous. Market cap was being calculated and compared against other coins based on the future absolute total number of coins, instead of the number of coins at launch. Coinmarketcap.com for instance lists marketcap based on current price x current number of outstanding coins (not current price x the final future absolute total number of coins that will ever be created).
If you look at the IPO price x coins at launch, the market cap looks a heckuva lot more digestable - more like a VOOT or KARMAcoin than a DRK. There's much more potential room for growth than some of those other figures suggested. It helps a lot if there are new features ready to go at launch - or at least demonstrable proof that progress on them is well under way.
Yes you're correct there were some gross miscalculations being posted by users in earlier pages (one thought we had a 30k btc market cap...
). We have a 944k initial market cap if the presale sells out entirely. Less if not. We are revising the mining rewards very slightly as well which should further increase room for investors to grow; will have an update on these figures within 48hrs.
Yes that would be useful actually. It was some of this kind of stuff that made me a bit jittery.