QUESTION: How do you verify that more shares than are supposed to exist are not floating around?
At least with crypto you can look it up on the blockchain.
At least with crypto you can look it up on the blockchain.
Thats a very legitimate concern. When there is a big pump it will quite tempting to not create and sell off a few.
Yup and still no one has given an answer to this question.
- Each share represents 0.001% of all site-generated fees (trading fees, withdraw fees, etc.).
- Currently, there are 5,000 in circulation which represents 5% of fees.
- There will be another batch of 45,000 shares which represents 45% of fees, totaling 50% of fees.
- There are 100,000 total shares to total 100% of fees.
- The remaining will be the site's owner's to have (the other 50% of generated fees).
It is what it is sounds to be: a share of profits generated by fees from the site. Obviously, this means you can't have more than 100%, i.e. 100,000 total shares, assuming scarce amount of magicians.
Basically, instead of taking 100% of fees, RealSolid is distributing 50% of that to the members and keeping 50% for himself. Slightly simple math, but it also gives holders a vested interest in making volume increase by getting more people there, trading more, etc.
That's all nice and dandy, but your number explanation does not answer my question.
How could there be more than that without RealSolid paying out of pocket?
There are payments every 6 hours, of which you can calculate for yourself how much volume there was in that time and what 0.001% of that volume would be (not counting withdraw fees of course).
