It seems to me 'market making' will be the primary activity, other than development projects, for the 50% of coins. Yet, I see no finance team to complement the dev team. You show no credentials or resume, hide behind an avatar like 99.9% of other users on this forum, and somehow we're supposed to be comfortable with the idea your skills as an arbitrageur and capital/finance manager will provide positive ROI for 50% of mined coins? How in the world is this different than banks using deposits so poorly that once the market turns against them (eg. mortgage market) even slightly, they will need a bail out? Congrats, you have invented the open source version of this financial nonsense. Except there is no central governing entity to bail out zenith coin. It will just fail, leaving a wasteful carbon footprint and nothing more. This is laughable. And all transparency will do is allow us to better see you risk assets and, consequently, DESTROY future development projects. Your 'market making' activities will have the exact opposite effect of creating incentive for the devs. I repeat, this is laughable.
Let's speak about arbitrage here for a second. Current crypto markets are extremely inefficient, so any basic level of automation can easily profit out of this inefficiency.Yes, lets speak about arbitrage. Being a former fund manager for over ten years, when you simplify the dynamics of market trading, be it arbitrage or whatever, as a 'basic level of automation,' then I become wary of your business model. It shows your inexperience, and quite frankly, immaturity and lack of discipline. Show me your proposed scheme. Is it strictly lateral arbitrage? That is, will you exchange zenith coins into BTC then transfer coins to mtgox and sell the BTC into USD? And then what happens if BTC runs? You've basically crippled your returns. And what if you need to purchase BTC and you've purchased at the top of said run and BTC falls?
And again, what are your credentials to even propose that there's a 'basic level of automation' which can enable arbitrage opportunities? Who's the trading team? Or are the devs, who are supposed to be working on projects, going to have to spend their time doing something outside their level of expertise? I can go on and on...
It is clear the model for your coin is ill-advised.
As you say, there are clearly some level of risk with regards to arbitradge and a potential to take on loses. Not every strategy may work long term.
Howwever, this model is much better than any of the other coins that are out there. What value do they provide other than serve as an indirect way to mine BTC or LTC?
This is the third time you've ignored my inquiries into your credentials as a capital manager and the details of who the trading/finance team is. It is clear there is no trading team. And it is safe to assume your resume lacks any experience in capital management. A coin is only as good as its devs and their requisite skills. So to answer your question as to what value do other altcoins provide, apparently the same value of zenith coin. As of right now you're just a seven character string asking everyone to assume your the Warren Buffet of the cryptocoin world. But I thank you for the chuckle...
We intent to bring on board an individual experienced in HFT and another individual experienced in Energy Trading.
Over time, we may solicit more expertise.
But at this time, the core team are mostly software developers.
Oh so you plan to use the 50% for your own HFT operations and yet we're supposed to take the published trading records in good faith, right? This is hilarious. Here, do yourself a favor, get this trading team of yours together, whip up a trading business model, go to btct.com and file for a debt offering. Repay your debtors interest/dividend payments via your trading profits. You'll see this is more viable and your fiduciary duties and obligations will be contractual (though still not legally binding, since btct.com makes it clear everything is virtually a game). Using a cryptocoin for your HFT ops guarantees nothing for either side.
At this time we are not at liberty to devulge the nature of the services we are creating. Give it time and you will appreciate the novelty, uniqueness and profitability of the approach.
No, no such thing will happen, I assure you. I've seen HFT algorithms in credit markets that would make your head spin. I've conducted my own statistical arbitrage operations in derivative markets. The cryptocoin infrastructure is in no way, shape or form at the level of sophistication of corporate stock and debt markets. All you're doing is defining another nasty carbon footprint for the rest of us. And it would be irresponsible for anyone to let you 'play' with 50% of our computing electricity without proper due diligence.
You just admitted the lack of sophistication of the crypt-currency market. What that tells me are that there are opportunities using tools that would not work in traditional more mature exchanges.
...like I said, it would be irresponsible for anyone to let you PLAY with 50% of their computational electricity. Exploit the inefficiencies with your own capital. Go ask mommy and daddy for a loan if you're so confident of attaining trading profits. Why include everyone in your glorious trading operations with your glorious trading team? Surely you know that regardless of the inefficiencies, the markets always sort themselves out. And the larger the capital, the quicker the arbitrage opportunity will end. It's why small/medium sized hedge funds generally outperform large hedge funds, especially when just starting out. Trust me, the btct.com idea is not a bad idea. Let your profits/interest payments speak for itself and in time you'll be able to have more successful debt offerings.
Not exactly sure what you are arguing for here.
Anyway, we both know that current alt-currencies are floawed in that they only serve as proxy to mining BTC or LTC.
So clearly something different, like ZentichCoin has the potential to shake things up.
. I hope you make what you promised ...
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