Topic: [ANN] [SFR] SaffronCoin | Latest Version - 1.4.2/2.6.2 | Mandatory Wallet Update - page 60. (Read 437833 times)

I understand all that, but what I dont understand is why the amount of coins one has right now should matter. I think the devs are better off holding an ICO for any stake in this. Similar to what XC devs are doing right now.

+1

P.S. Stupid comment, but nothing more can be said.

Depending on how much SFR the devs actually own, it can be a very profitable move for them too. If they commit just 5-10% of Cryptoxindia shares into SFR the value of the coin will rise immensely. Trust me, the altcoin world is getting sick of hearing 1 week old coins promising the same old features like "trustless anon" "decentralized market" "decentralized exchange" etc. A coin that allows you to extract profit via dividends from a real exchange that will have real volume and real people will actually use is huge huge news. Probably bigger than anything any other coin has achieved. The level of hype and attention it will get both SFR and the exchange will be worth it. Infact SFR would become the only alt in existence to actually have real intrinsic value.

This is ridiculous, who will fund buying the SFR? who keeps it? how do we legally prove SFR is backed by saffron?  This is not a bar of gold, saffron looses potency and flavor as it ages, you cant just buy some then put it in ur pantry and tell everyone SFR is worth more now cus we actually own some saffron...

In order for asset backing to work, the person on the other end must be able to somehow claim their share of the asset that is backing it.

Trying to throw commodity backing into an established coin as a new "feature" is just stupid, stick to the roadmap and SFR will do just fine.

URO devs and company behind it are still very active and working on URO adoption, in fact I believe they are releasing a fiat/URO exchange in a couple weeks. It was not a scam, it was branded a scam after Jeremy and his group pumped it to massive highs through mass hyping and then dumped on everyone for a beyond ridiculous profit, leaving everyone who did not sell down alot of money. After that nobody would trust or take URO seriously because they fail to see the bigger picture and look at the real evidence. In fact if anyone got scammed it was the URO dev who got manipulated and befriended by the pumpers who pretended to want to help the coin succeed.

Regardless, both CANN and URO have ridiculous business models that this market in its current state simply could not support regardless of how real and legitimate they are or aren't. CANN btw seems very shady, they where working along side pumpers during the initial pump and so far all they have to show for their work is a couple of photos, no legal documents or anything, and in order for 1 CANN to truly equal 1 gram then the CANN market cap would need to be over $1.6 billion which is not going to happen.

The dev said that he will visit the expo in Shanghai and all the sudden people are starting to wonder what is going on and why he is not writing 105 posts per minute. There are other important things regarding one coin... such as... oh, wait... INVESTORS (or whales)! Please stop that fud.

Hugh mate if you want to suggest something then why don't you PM me rather than saying we are mute on this. I still haven't returned and I try to keep in touch and update whenever I can. I had earlier already said that part of crypotoxindia stake will go to elite members. I didn't understand why you are asking again. If there is something I cant understand or you want to direct something directly to me than pleased do PM me.

Thanks

There are many can be done but not asset back up.

By the time, we have to wait for dev back to India.

And CryptoxIndia will be big benefit for us Saffroners.

So, chill out and wait 

  I think there is too much opposition here for anymore discussion on Saffron Spice Backing SaffronCoin. Maybe in the future some individuals can Burn some SaffronCoin and make an asset separate from SaffronCoin.

Here my thoughts on the subjects discussed.

1. Backed by Saffron Spice I think is a bad idea because it's a limiting feature. First, it's not very practical as you have to get the largest Saffron producers and distributors involved or have to collect a shit ton of Saffron spice ourselves which is going to take a shit ton of money and probably will need angel investors. But in that case, might as well start your own Saffron distribution company. Second, if you peg the price of the coin to a fixed price relative to the spice, then this limits any future price growth. What good is it to have a fixed price if the potential could be much bigger. Lets say in 2009 BitCoin decided to back the price of BTC to the price of a gallon of milk worth around $3. Back then when BTC was worth pennies, this would have been a valid proposition, but imagine it actually had gone through.

2. Stake in cryptoxindia. If big holders want a stake in cryptoxindia exchange, then the devs should hold a separate ICO/IPO and give everyone a fresh chance to invest in the comapny/project. Just because some of us were lucky enough to accumulate a bunch of coins at dirt cheap prices shouldnt give us any more reason to hold a stake. It doesnt even make sense for anybody with any amount of coins to hold a stake in the exchange. There is no correlation. Yea its a win win for the holders but a lose a lose for the devs. Its pretty much blackmailing the devs "Hey give us a stake in your exchange or i wont guarantee not to dump and sell significant quantities of SFR." Any stake of a future company (in this case cryptoxindia) should be done through an IPO.

I think SFR is great, that's why I have invested. I love the work you have done with SFR. I'm just afraid that the SFR community will loose focus discussing too many options. I'm also convinced that the path of being backed by a commodity (at the moment) is bad for SFR, which will make me loose faith in it. It just doesn't feel serious.

I have repeatedly suggested a a equity stake in a future cryptoxindia for Elite Club Members. Win-win as big holders of SFR have a strong incentive NOT to sell large significant quantities of coin.

However the Dev has remained mute on the subject.

Mate we are already working on whatever you suggested. It is literally foolish to say you would dump if it goes this way. One man's food is another man's poison. There is no guarantee that any of u are correct. I don't understand the hyperactivity involved in this.
This is just a point put forward and i never said that i am for or against this. I asked you guys to decide this. This discussion should be in a civilized way rather than get frustrated and talk about dumping and removing miners. It is pretty lame to talk of all that now since nothing is decided.

I totally agree and I understand your frustration. What scares me the most isn't the people discussing this, but also from the developer. I will also exit Saffroncoin and remove my miners if any of these plans goes any further. I even signed up here just to discuss this particular subject. I'm not a forum guy...

If you believe anyone in the real world would care about $150-200k market cap you need to rethink and educate yourselves. If we make 10-100 times Bitcoin market cap (which will never happen) maybe someone would listen.

My suggestion is continue working long term and hard to get Saffroncoin accepted as payment method in India or elsewhere. I just watched a Bitcoin documentary on Youtube about how Bitcoin gives people in the developing world (in this case Kenya) access to banking services almost for free. Their banks rob them on high fees and bad service. Getting a POS (point of sale) solution working with SFR like a credit card or a mobile payment system would be great.

If you still want to have real value backing the currency, consider a do-able thing like starting a company (for example an exchange been discussed) or several companies and let SFR be backed by it giving out profits to holders of Saffroncoin like a preference share or bond (but with no loan of course).

Exactlly. URO was simply a scam. Also remember that we would not be pegged to the underlying commodity [ saffron spice, gold or diamonds]. My suggestion for a '10-20% value level' backing asset that adds to the stature, stability and price support of SFR.

As for 'mysticalcockfungus'.... Its a free market

Every service has its own pros and cons. The thing to decide is whether the pros outweigh the cons. And that can only be decided on a lot of discussion.

Thanks for the help. I got it to work. I am now a SaffronCoin owner.

I can't believe this guy is comparing URO to SFR...

Uro was an obvious scam from the start...

I won't tell anything about CANN because it's to early to see if the pegging will work or not.

Dude there are better ways to express this like how others have done.
All have their own views and noone can say who is right and who is wrong.
It is just a topic that came up and every one are posting their views. Nothing wrong in having a conversation going. These steps will not be taken quickly if it has to be taken. It is just some random thought that I requested all of you to decide and share your pros and cons.

Dump'em please!