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The team was never in this topic. I have frequent contact with the team and know that there will be an announcement soon, which the team also posted in the Telegram group.
is this project dead?
Certainly not. The devs are working on an exchange within the wallet. CORION should be a stable price currency, but the crypto exchanges cause to much instability. In the near future CORION probably won't be listed at exchanges anymore and there will be an exchange in the wallet where you can buy and sell CORIONS for a nearly fixed $1 price. From then the demand based coin emissions will start again. This means that every 3 hours there will be a check, are there more CORIONS bought than sold, then a coin emission of 0.3% will occur.Check the telegram group for more info: https://t.me/joinchat/DZiAgEN27oGI9LVfEzsf_w
Quote from: Corion Team via Telegram:
Dear Corioners,
We would like to inform you gladly that our first outcome of our development work will be released on Tuesday, January 23. Therefore we will be doing maintenance work in between 10 AM and 2 PM CET Timezone.
Our team worked hard over the last period and the first part of the year to make this change happen. Firstly we will renew the Corion Wallet. We completely refactored the frontend and backend code which will lead us to more modularity and to a major step up regarding security. The system got migrated to AWS which affects the performance level in a really positive way. We have changed the ETC client to Parity and because of the no more Node out of sync messages for you! These changes and refreshed working methods could seem to be conspicuous but our development team worked really hard over 3 months with the main focus of redefining the Corion platform and by that presenting a rock-solid stable system for our users.
Please do not forget to plan your wallet according to the maintenance what we will be doing in between 10 AM and 2 PM CET Timezone January, 23.
We wish you a great and successful week,
Your Corion Team
We would like to inform you gladly that our first outcome of our development work will be released on Tuesday, January 23. Therefore we will be doing maintenance work in between 10 AM and 2 PM CET Timezone.
Our team worked hard over the last period and the first part of the year to make this change happen. Firstly we will renew the Corion Wallet. We completely refactored the frontend and backend code which will lead us to more modularity and to a major step up regarding security. The system got migrated to AWS which affects the performance level in a really positive way. We have changed the ETC client to Parity and because of the no more Node out of sync messages for you! These changes and refreshed working methods could seem to be conspicuous but our development team worked really hard over 3 months with the main focus of redefining the Corion platform and by that presenting a rock-solid stable system for our users.
Please do not forget to plan your wallet according to the maintenance what we will be doing in between 10 AM and 2 PM CET Timezone January, 23.
We wish you a great and successful week,
Your Corion Team
Gotta say, it's not really stable at $1, besides, why do we need this? We have Tether(USDT).
CORION is different from Tether. I'll advise you to check the whitepapers @ http://coin.corion.io and read for yourself why CORION is different from Tether.
And the price... it will be $1 again very soon. The devs are working on a new wallet with an exchange inside the wallet and when this new wallet is released, then the price would be stabilized at $1 in a couple of days/weeks...
It is indeed easy to get the price back to $1, but keeping it there is difficult. Lot's of traders at Cryptopia bought CORION and are waiting for a profit. If the price is rised to $1, then they certainly will sell and the price will drop again. So 1.5 BTC is not all what is needed.
There are also still some ICO investors waiting for a good price to sell their amount. And last, investors who desperately need some cash and investors who think that there could be more profit in other coins will also sell at higher price levels.
The stabilisation fund should have been used from the moment that CORION was listed at Cryptopia, but they waited to long. The CORION foundation tried it a couple of times, but didn't expect to see such sell orders after they rised the price and now it is to late.
When in januari the coin would be delisted from Cryptopia and there will be an internal wallet, then after all day traders sold their coins (to the CORION foundation), the CORION will be stable...
are you sure Corion would be delist from cryptopia?
any exchange will coming soon?
I'm not sure it will be delisted, but my guess is that when there is an internal exchange in the wallet where the price will be always around $1, that other exchanges are to risky because of possible volatility of the coin prices. The CORION devs are hard working to deliver the new wallet on time before the end of this month.
Hey.
Tell me, only I have a problem with withdrawing funds from the purse of Corion?
Already 2 months I write in support, but every time I'm sent to wait!
Why such an irresponsible approach?
Who knows who to turn to?
And after all, I paid for it at the time of ICO Corion.
Tell me, only I have a problem with withdrawing funds from the purse of Corion?
Already 2 months I write in support, but every time I'm sent to wait!
Why such an irresponsible approach?
Who knows who to turn to?
And after all, I paid for it at the time of ICO Corion.
What is your problem? Is your wallet 'watch only' or 'for use'? If 'watch only' then read this (if you didn't already): http://blog.corion.io/headline/corion-announcement-wallet-unlock/
I do hold a few corion coins but i do not think that the price should be locked, the market should decide the right price of any coin.
CORION will be stabilized around $1, say plus or minus 3 cents. This makes CORION fairly unique. The market does not control the price, but the market cap. Lot's of ordinary people don't want to get involved in the future because cryptocurrencies are to volatile. If they can buy a bread for $1 in crypto today but need to pay $1.50 a day later then you can see that volatility of coins is not a good thing.
Is this project dead or is there another channel with more updates as it is way too quiet!?
This project is not dead, but people are waiting for the wallet update in januari. More info is in the Telegram group.
The price for COR tokens as suggested by the developers and written in their technical documentation was to be stable and equal to $ 1 and if the price of the token fell below $ 1, then the project was supposed to hold the price of the token in the region of $ 1 but in practice the price of COR was below 0.65 cents but the project did not raise the price of the token to $ 1.
3 Reasons:
1 BTC is dropping (now, not the past weeks).
2 Daytraders on Cryptopia don't know the CORION system. The buy, wait for 5-10% profit and sell. This is to much fluctuation and can't be corrected. That's why CORION is working on an internal exchange where day traders have no influence.
3 ICO investors who only wanted quick profit. Take the 25% bonus, sell as soon as the ICO is over.
2 and 3 combined is to much for the stabilization fund. Expected in januari, the new wallet with internal exchange will arrive. Then CORION would probably be delisted at Cryptopia and thgen the price can be stable at $1 +- 3% (?)
Order books are so thin that I don't believe that you can't rise the price above $1 with just a couple of BTC. I just checked and the way to 9000 sat is just 1.46626273 BTC , how much is the fund? 1 mBTC?
There are also still some ICO investors waiting for a good price to sell their amount. And last, investors who desperately need some cash and investors who think that there could be more profit in other coins will also sell at higher price levels.
The stabilisation fund should have been used from the moment that CORION was listed at Cryptopia, but they waited to long. The CORION foundation tried it a couple of times, but didn't expect to see such sell orders after they rised the price and now it is to late.
When in januari the coin would be delisted from Cryptopia and there will be an internal wallet, then after all day traders sold their coins (to the CORION foundation), the CORION will be stable...
The price for COR tokens as suggested by the developers and written in their technical documentation was to be stable and equal to $ 1 and if the price of the token fell below $ 1, then the project was supposed to hold the price of the token in the region of $ 1 but in practice the price of COR was below 0.65 cents but the project did not raise the price of the token to $ 1.
3 Reasons:
1 BTC is dropping (now, not the past weeks).
2 Daytraders on Cryptopia don't know the CORION system. The buy, wait for 5-10% profit and sell. This is to much fluctuation and can't be corrected. That's why CORION is working on an internal exchange where day traders have no influence.
3 ICO investors who only wanted quick profit. Take the 25% bonus, sell as soon as the ICO is over.
2 and 3 combined is to much for the stabilization fund. Expected in januari, the new wallet with internal exchange will arrive. Then CORION would probably be delisted at Cryptopia and thgen the price can be stable at $1 +- 3% (?)
Hi Dev, tell me how to connect your purse with the tokens of the COP to the service provider that you need to do if you have instructions I ask you to write them in this thread. You say that with the release of a new purse, the tokens will be removed from the exchange, why the project removes the tokens from the exchange? It seems to me that tokens should be traded on different sites so that there is a great interest in tokens.
Hi, I'm not one of the devs, but do know the system.
I made some tutorial movies and one of them is about connecting to the service providers. See https://www.youtube.com/channel/UC_sgitx1bYyCLrcikPVNO8w/videos
The CORION token is not like any other token. Exchanges are for the majority used for day trading and CORION is designed to be used as a daily payment method. Day traders are only interested in quick profit, but with a stabilizing method there will be no profit at exchanges, but the influence of day traders disrupts the stabilization. With an exchange in the wallet only, the price will be more stable and investors who have there wallet addresses connected to a service provider will gain profit if there is demand for CORION. When more and more CORIONS can and will be used as a payment method, demand will rise and so is the profit.
It's very interesting idea, but do you have a view how to realize it technically?
The stabilization is based on coin emissions when there is demand. If there is no demand enough, and the price will drop, then 80% of the transaction fees will be burned. If that is not enough to stabilize the price, then the stabilization fund can buy CORIONS to stabilize the price around $1.
What is the difference between the token CORION Premium from CORION tokens where I can now buy CORION Premium tokens and how much is 1 CORION Premium token. I did not see that CORION Premium tokens are being sold on the cryptopy exchange, where only the CORION tokens are sold. When will the project start working normally and give profits to investors?
CORION is the main token. The CORION Premium is a kind of share where you get dividend for. There are only 852 CORION Premium tokens, ever. The CORION Premium is not on any exchange. In the near future, when the CORION wallet will be updated, then the wallet gets an internal exchange and there you can trade the CORP, but they will be very valuable. I don't know if you the CORP can be split in fractions.The system is working as it should, except for the stabilization fund which is nearly used to stabilize close to $1. You get profit if the price is $1 or higher. There is a marketing campaign ongoing and when the new wallet in early 2018 will be functional, then CORION will probably be removed from the exchange because the new wallet gets an exchange and a couple more coins will be added, like BTC and ETH and even fiat in the near future.
CORION is not meant for day trading, but for long term investments and for a payment system in daily life.
Interesting system of keeping the value of the coins , and when coins run out, what will happen? And how might investors make money with such a mechanism?
There are unlimited coins available. The coins released at coin emissions (max 2.5% a day) will be divided to investors who have their wallet connected to a service provider and the service providers.
Hello, i want to ask at the expense of dividends in the white paper of the project it was written that every holder of the COR tokens will receive on its purse where the COR tokens of dividends are stored after a certain period of time. But I do not receive dividends from the project for about 3 months. Tell me why the dividends are not paid with what is it connected and is the project going to fulfill the conditions prescribed in white paper? When and how can I receive dividends from the project? Thank you
I think you confuse CORION and CORION Premium. With the first you don't get dividend, but can get profit from coin emissions if the price of CORION is above $1 AND you connected your wallet to a service provider. If you own one or more CORION Premiums, then you get dividend. I don't know when there will be dividend paid, that question can be better asked at the CORION Telegram group: https://t.me/joinchat/DZiAgEN27oGI9LVfEzsf_w
In the white paper of your project, it was written that holders of COR tokens will be paid each day dividends, depending on the number of COR tokens on the wallet, but for some reason I did not enroll dividends at all. Tell me why are not dividends accrued with what is it related?
There are only coin emissions when the price of COR is above $1, so only when there is enough demand for COR. You can read this also in the whitepapers.
You need only a small amount of ETC to perform transactions. For one transaction 0.05 ETC should be enough. You can find more info about transaction fees at http://help.corion.io/knowledge-base-topic/wallet/
The CORION website is now available in English, Korean, Russian and Hindi language and more languages will follow soon.
I'm not from the CORION foundation, I'm just an investor. But I have invested in other coins to. Can you show me one coin which has terms and services where they do not almost completely put the liability at the investors?
Everybody knows/should know that cryptocurrencies are a risky business.
Everybody knows/should know that cryptocurrencies are a risky business.
Allow me to quote myself:
You said so many things but it seems you are having a hard time answering that simple question eh?
Keyword is downward. I get than when there is demand (price is upward), you will release corion emissions whatever. But what about when price is downards? Will you reclaim destroy corions?
What technology do you have in place that will ensure that price will not continue downward?
You said so many things but it seems you are having a hard time answering that simple question eh?
Keyword is downward. I get than when there is demand (price is upward), you will release corion emissions whatever. But what about when price is downards? Will you reclaim destroy corions?
I quote myself:
Quote
If the price drops below $1, then transaction fees will be burned. If the price keeps dropping, only then the stabilization fund will be used to stop the dropping.
Don't twist my words. My request was simple. What technology do you have in place that will ensure that price will not continue downward? New coin or whales or not, what if people think your coin is shit and everyone sells, what the hell are you talking about when you say price will remain at $1?
Cmon, you offer 2.5% dividends daily? Do you expect people to fall for this? Sorry but until you give more details, this smells like a ponzi scam.
Cmon, you offer 2.5% dividends daily? Do you expect people to fall for this? Sorry but until you give more details, this smells like a ponzi scam.
I don't twist your words. If everyone sell at the same time, then CORION is dead. This can happen with all coins or normal money (fiat).
2.5% is not a daily dividend. It could be up to 2.5%. Last couple of weeks is was 0% Just the past day there was 4 times an emission of 0.3% so together 1.2% in a day. Today nothing, cause there is not enough demand.
So not a Ponzi scam. Only when there is demand, there will be emissions.
Just compare with other cryptocurrencies. Take BTC for instance. People are mining new BTC. This will increase the market cap. If there was no demand for BTC, then the price of BTC would drop. But there is demand and the price is rising so there is profit for people who keep BTC. CORION works slightly different. If there is demand, the price would rise like BTC. But now new coins will be released to drop the price again. Those new coins are divided to all CORION holders (who are connected to a provider) so like BTC you gain profit, not because the coin is worth more, but because you get more coins.
Both BTC and CORION generate profit when there is demand. So they are not that different. The only thing that does really make a difference is that BTC can fluctuate enormous but CORION will always be worth around $1 (unless your doom scenario kicks in)...
Is the stabilization fund standardized?
Can it stabilize its price?
Can it stabilize its price?
Depends.
Stabilization if the price rises above $1 is a smart contract based system by releasing new coins. Releasing new coins causes a higher market cap and this normally would depress the price. If the maximum of 2.5% new coin release a day appears to be not enough, then the CORION foundation can sell as much coins as needed.
If the price drops below $1, then transaction fees will be burned. If the price keeps dropping, only then the stabilization fund will be used to stop the dropping.
I don't get it. Can you ELI5 (explain like i'm 5) how a coin, which is driven by supply and demand on an exchange can, as you say, maintain its $1 value? What if a big whale sells 1000000 million corion coins at $0.0001?
I don't see how that can be done without manipulation. Sounds like a scam if you can't explain it simply.
I don't see how that can be done without manipulation. Sounds like a scam if you can't explain it simply.
Extreme sell or buy orders can influence the price. This can happen with all coins on exchanges, also with the other stabilized coins like Tether. Buy realistic, there are not big wales yet and if there will be in the future, then the market cap is also bigger and even then big wales can't influence the price that much as in your example.
Edit:
And yes, you can think of stabilization is manipulation. But is manipulation not a synonym for stabilization in this case, and not a bad thing? The CORION foundation buys CORIONS from sell orders which are below $1 and it costs the foundation BTC. Doesn't look like a scam to me...