So I just had my first successful auction at CryptoAlley. Sold world war 2 photos for 600 ICN including postage.
Although that isn't much I am keeping that 600 ICN for a long time, I also took the time to workout why iCoin is currently so undervalued compared to other virtual currencies but I can't help feel that it's because of 500 000 million coin production that buyers and sellers think it's over a 40 year period. From what I have read it's over 500 year and only 50 million coins will be available in 40 years time or something similar to that figure.
Taking a look at Digibyte where all 21 billion coins is going to be mined out under 40 years and price is currently 26
Digibyte will have 466 times more coins then iCoin in around the same time, take 26 * 466 and iCoin price should be around 12116 in this market.
Another example is Potcoin that will have 420 million coin production, currently 1260 coins every 3 minutes.
Trading at 1279 on cryptsy. Even just take production output 1260 / 100 is 12.6 * 1279 = 16115
What do you think is keeping iCoin price so low if you do some calculations on the above coins who should have similar status to iCoin?
More examples:
USDE 4000 coin block reward every minute, trading at 26.
12000 (3*4000)/ 100 = 120 times more coins then iCoin over 3 minute block reward. 120 * 26 = 3120
WorldCoin:47.819014 coins every 30 seconds Trading at 0.00008404
286.8 (47.8 * 6 )/100 = 2.868 times more coins then iCoin over 3 minute block reward. 2.868 * 8404 = 24102 (Worldcoin is over valued compared to others.)
Tagcoin:
30 Coins every 4 minutes , 22.5 coins every 3 minutes trading at 00025922. 00025922 / 4 = 5891