Topic: [ANN][RELAUNCH] Yincoin/Yangcoin ☯☯ Destroying Coins|Distributing Coins|Big NEWS - page 12. (Read 64156 times)

Good job

Wait i'm confused, can someone summaries what the IPO on bittrex is about and this "coin-swap" thing?

I think this is a little bit off.

Yin/Yang holders having to wait for a week after POS for the swap will create pressure on them to buy into the ipo.

While you will get the IPO btc, yin/yang holders might get some worthless Harmony after the miners have finished.

The IPO btc will be safe in the bank, so it won't matter to he dev.

In effect you will be using the yin/yang holders to promote Harmony while offering them a lot if if's/maybe's etc.

I know you say you want be fair, but it is not fair at all.

I went out for holidays, just see the news here.
It's a good idea to do an IPO. But it's also a mission to keep the new price active.

Okay so i wrote a suggestion below. This started out as a no-brainer but i put some thinking in this while writing it, edited a thousand times but it might just have massive advantages and eliminate many disadvantages that we currently have. So hear me out on this for a sec and try to read everything, it took some time to fully develop this idea:


Imagine having an IPO, but instead of distributing another 500k harmony for the IPO, you could just use the harmony that was supposed to be swapped for yin/yang, and for every harmony bought as IPO you (the team) just buy 8 yin or yang from Pol with the money received from the IPO investor.

To give an example: An investor wants to buy 10k harmony of the IPO, say at a fixed price of 3000 sat per harmony. He pays you (YinCoinYangCoin/the team) 0.3 BTC for this and you give him 10k harmony that was supposed to be swapped for 80k yin or yang. So, now you buy 80k yin or yang from the market (with the money you received) at the lowest price possible, and 'destroy' these. Now in case you buy the yin yang from Pol in the range of 1-375 sat (375=3000/8), you will:

1. have eliminated the yinyang of dumpers who would've dumped their harmony for under 3000 sat (the IPO price) after the swap (i'm explaining this below)
2. instead of people dumping during the Harmony phase, coins will be dumped prior to this: they'll dump in the yinyang phase
3. this will not cost you money, you'll actually make a profit from dumpers selling yinyang under 375 sat
4. profit can be used for mintpal etc.

In case there are no more people selling their yinyang under 375 sat after a while, this wouldn't be a problem (on the contrary!): It would mean you eliminated all dumpers who were going to dump harmony for less than the IPO (< 3000 sat). Because they're better off selling yinyang at around 375, instead of dumping cheap (< 3000 sat) harmony after the swap. (So IF many people will sell yinyang at 375 sat and not lower than that anymore, it'll create such an overflood of sales at 375 that there'll be a lot of competition amongst sellers, thus naturally generating lower prices. Even IF, theoretically, this competition wouldn't happen and it'll only be sold at 375 and not lower, it would still eliminate dumpers too so wouldn't be a problem.)


Some more advantages:

-There will be less yinyang holders, so less swap (this is what the creator wants!)
-The fact that yinyang will be swapped for harmony, will no longer have such a negative aspect since yinyang will be worth something again.
-Harmony won't be a replacement for a 'dead' currency: there'll be put life in yinyang again prior to its artificial destroyment by the swap, healing its reputation (thus healing the reputation of the creator, the team and ofcourse: harmony).
-If yinyang sells for around 375 sat after a while (which is very possible as long as the IPO is succesful), the IPO investors will NOT have the disadvantage that yinyang holders will get their harmony way cheaper (as of now yinyangholders will get Harmony for about 800 sat, since yinyang's currently about 100 sat). It would be unfair for the IPO investors, as you mentioned before, since they spend 3000 sat. With my idea, if yinyang naturally gets to about 375 or more in good conditions, this disadvantage will be eliminated aswell. Yinyang holders pay about the same price now so it's equal, plus they can gain profit if they don't dump this time (this would be a first for yinyang...!). If it doesn't make the 375 sat, still some dumpers will be eliminated and it'll still have a positive impact, with even more profit to spend on mintpal (win-win situation).

Note: ofcourse you (the team) are supposed to buy yinyang from the community for this to work. If you use your own yinyang (or from the team) you wouldn't eliminate the dumpers thus have no effect with this.

Note2: in the beginning, when yinyang will be < 375 sat, people will prefer to buy yinyang instead of IPO. This can be avoided by several ways: the team can already start buying cheap yinyang on Pol, the community can do this too. People outside the community can too: they'll see it as an investment after this plan has been announced. With stable floor of 3000 sat for harmony they have a good investment if they buy yinyang below 375 sat, even if they can't sell it for 375 (if it doesn't sell they'll still have the posibility to swap).

Afterwards the swap can go as planned with the remaining yinyang, without the dumpers. You could even scratch the 'one week waiting time' for the swap to satisfy everybody in the community because a floor of 3000 sat will be set and will be way more stable. No more fear for dumpers.


Looks pretty solid if you are able to find a not too high - not too low IPO price. If it's too high, you get less investors, less dumpers eliminated and less chance of yinyang to reach 1/8th of the IPO price. Too low and still too many people will hold their yinyang as yinyang will reach 1/8th faster. So the one crucial task the team has, if this plan gets implemented, is making sure they're able to get enough people to get in the IPO. The positive aspect about my plan, is that the plan itself should make IPO more attractive for investors.

I promise that this coin will last for more than a week. I expect average prices to be in the 5-15K range after the IPO. That will be very solid for most buyers of Yin/Yang.

 

Bittrex is officially hosting the IPO, if you guys checked out what happened with DCM you would be thrilled too! They are also interested in hosting the coin-swap as well. IPO and official thread will be live in 24-48 hours.

Some of us ain't dumpers, I've been holding from day 1, got over 250k. I've said it before, but my concern is having to wait a week to swap my coins, and in that week the coin will get dumped on by the multipools. They don't care what coin it is, and they can't play the market hoping for a rise in price, they need BTC to pay the miners, some of those rigs are huge, and they gotta be paid for. I'm happy to support the dev's decision and the coin, hype it up, spread the word, etc, but is there no way to avoid the Yin/Yang holders getting the worst deal, and possibly becoming bagholders of a new coin?

I'm looking to start the IPO at  6000sat, this is a reasonable price for 8.5mil coins I believe. This price is not way overvalued like Millionairecoin, but it is also not undervaluing a very well developed coin with lots of positive aspects.

I agree the ipo would also help to keep an initial minimum price at the market.

lets say ipo sold at 3k sat , this would establish at least a 3k sat ground and from there it could start growing as much as cry maybe since harmony total cap will be lower.

The most important thing imo is the fact that dumpers from yin yang will have very much less power on the market.

Thank you, and that is literally everything that is planned, so were on the same page. Our dev is the goal coin dev and he is very hard working and innovative.

Good thing only 1 made a paid vote But its a wasted effort for all the guys who continued voting for this coins if nothing better will come out of this.

I suggest if your so hard on doing Harmony make an IPO for it so that there will be funds for getting Harmony to Mintpal and then do the yin/yang swap.
Get the best possible coin dev and make the coin look better and not looking like a coingen product.
We have already the Multipool for mining, better the coin is POW/POS hybrid and with anon feature too.

Just my 2 cents (yin/yang coins)

I'm really not sure.

Should we continue to vote on MP or will Harmony vote start from the scratch?

POS offers an incentive to not dump, but yes some people will want to just mine and sell. The momentum of the coin though needs to propel it past all that. We need to make sure everyone is talking about the coin.

Do you have any ideas on how to minimise the effect of dumping, thereby protecting the price floor you are trying to maintain?

How about a high block maturity time? This might attract miners who are less interested in dumping, and it might mean the coin isn't battered by the multipools.

The plan has always been for the swap to be after POW ends. The swap will begin right when Harmony becomes pure POS.

If Yin/Yang holders don't get Harmony until a week after launch, the multipools will have dumped all over any IPO price/floor that you set. How is this fair to people who need to trade-in their Yin/Yang?

Scratch this idea. I'll just have Poloniex remove the Yin/Yang markets and I'll start Harmony with an IPO then do the swap as originally planned. Don't know why I didn't think about this earlier.