(*Vote on the investment choices with FirePower)
Voting is mentioned several times in your announcement, but what are people voting on exactly with this Firepower? What does your team do with the investment choices?
Hello, we have a thread with more detail and pictures explaining our voting polls and the use of FirePower here:
https://bitcointalk.org/index.php?topic=3175556.msg32870579#msg32870579To sum it up, we will host weekly polls for core holding coins, alt coins purchase and ICO purchase which the community can vote on. We will then allocate the appropriate funds we collect from FireToken ICO to purchase them.
Also we will host live trading days where members can vote in real time, have their trading accounts open and ready to trade on the same exchange as us. We will allocate an appropriate amount of fund to trade with the community to steer the market to our favor.
One way to simplify this concept, we can use the poker table analogy.
Imagine the exchange as a poker table, and every traders are poker players on the table. If a few players can somehow communicate their next move among each others, the odd will be in favor of those players.
Now we know that some members might frown upon our concept, but it is not a foreign concept. Such strategy has already been implemented on stock market exchanges and even cryptocurrency exchange markets. They are often called signal groups, insider trading, hedge funds or trading firms such as Jane Street... The thing that differentiate us from them is that we act as a fiduciary trading entity to our members, and we facilitate votes and communications between our members.
We do not buy in at a lower price before our members have the chance to buy, then release the signals. We facilitate the polls, release the result, then make a purchase so that our members will always profit from the price gain driven up by us. We anticipate to profit at a safe margin, enough to distribute the gains among our members who staked FireToken and support the continuation of our platform.