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Showing 3 of 3 results by whatsdownlow
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Board Altcoin Discussion
Re: The Scharmbeck 'Stock' Dilemna
by
whatsdownlow
on 07/02/2014, 02:19:27 UTC

3)Their dividend was obviously padded, or there is something I'm not seeing here...

                  So a 16.264  BTC dividend from their last month of beta testing rounds.  That sounds great, right?  Well hold on, before we go rushing off to thinking that 'once Scharmbeck launches, the dividends will be WAY more than that, lets do some math:  That is roughly $13,000 worth of FEES.  The problem here is that, lets say Scharmbeck uses a similar fee structure to coinbase (1%).  So that means they did about 1.3 Million dollars in volume (or roughly 4 Million Worldcoins) passed through that “beta system” in a month. BUT WAIT, it gets worse, that would be the case if Shareholders got 100% of the feeshares, but as it stands, we only get 10%, oh shit, so that means they did 13 Million dollars in buy/sell actions and 40 million WDC in volume (That is roughly equivalent to the amount of coins in circulation if that is indeed the case.  That large dividend, needless to say, really scared me.  This reminds me of the early days of reddit where there were fake posters, fake accounts, and paid content writers.  This is known in the tech startup world as the “fake it 'till you make it strategy'.

Like I posted on Reddit, if you read through their announcements on Cryptostocks, you'll see that the dividends also are shares of the fees from their mining pool. They also were running their own 20mh rig and paying 100% out to fee share holders in BTC. That means the dividends are made up from a combination of: Sharmbeck transaction fees; Mineworks mining pool fees; Scharmbeck's own mining.

Whether those numbers add up or not, I don't know, but I thought it'd be worth mentioning.
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Topic
Board Altcoin Discussion
Re: [ANN] WWW.BUYPTS.COM :: Protoshares giveaway!
by
whatsdownlow
on 24/12/2013, 21:04:55 UTC
PmxnhpWyRVaUx39CzcZEQjfU5TJXcTLMWr

Thanks!
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Topic
Board Beginners & Help
Re: Alt-Coins
by
whatsdownlow
on 17/11/2013, 01:37:52 UTC
I'm really not sure why there's a million alts being developed. Surely the best way to move forward with crypto currency would be for everybody to get behind the one to get it into the mainstream. At the moment it's Bitcoin. Can somebody explain to me why there's a need for any more than one?