Hello to all.
It's my first post. I'm new to faircoin/cryptocurrencies and have one naive question and a comment...
In alcurex faircoin value is totality different, I don't understand why nobody refers to this and only to the bittrex value...
Picking on the Smartaction last sentence about selling faircoin, in my opinion the only way to make this coin work is keep it in a restrict number of users that only sell it to pay necessary monthly bills and get more faircoins in fairmarket (just like a regular job). If the people who have the big amounts of faircoin sell it to make big money everybody loses... right?
Hi OrangeMachine and welcome
I'll comment a bit on what you wrote. Please note that this is just my view on crypto's and not the only truth
For a lot of crypto's what you wrote is actually the case. They never make it off the exchange and the amount of coins in existence is way to much to be support by the community using them. In that case it is in fact only a pile of BitCoin where people colaborately deposit and withdraw from, which controls the value.
Things become different when a crypto gets more purpose. Instead of trading the coin for other currencies, people will be able to trade a coin for goods or services - you'll get coin-2-coin traffic. In that way they skip the money pile game completely. A valid or slowly changing reference value helps to build trust - which is one of the many roles of getfaircoin.
On the last part; people with big amounts of coins can influence the market heavily. I personally believe that this is what we're seeing with BitCoin right now. It is interesting to say the least that it has been stuck at 220ish euro per bitcoin for so long.
Not only the distribution of a coins wealth, but also the big account holders will eventually determine a coins short term fate. It has to survive long enough so it can fragment, decentralize and become a stable and accepted currency. Knowing who your big account holders are and what their intentions are can help a great deal in growing to be more resilient.
For the last part; open up the markets in Bittrex and run a few calculations and see how much money you - hypothetically - can actually make on the different coins if you where a 'big account holder' and want sell for 'big money'. You'd be supprised how fast it will totally deplete the market, how little it will earn and how much damage you it do.