Topic: [ANN][STD] StandardCoin - BUILT-IN EXCHANGE - Permanently Rising Rate - page 35. (Read 47979 times)

This looks promising if there is a fix to stop P&D.

take a seat!sent later

So if I understand this correctly, then basically this is a 75% pre-mined coin that is distributed exclusively to initial investors. Meanwhile, after the IPO is closed, then mining starts and the rest of us get a share of this thing.

This can still be a pump and dump, the only difference is that we know where the floor is, and the "dumpers" have already accumulated what their investment is.

So, this isn't necessarily a scam for the IPO folks, but it represents a high risk for anyone who ultimately buys/mines and holds this on an outside exchange like cryptsy without realizing what they are buying into.  

But there is a risk that I see for the IPO investors folks themselves, and that is this exchange's potential existential risks, and this is where I caution buyer beware on this "investment".

My questions: Are you, the DEV and exchange operator, a US person? Are you a registered business? Where are you registered? Are you, or your business, or your website, or any of your (or your business's) assets (physical, personal...like the servers the big investment wallet is kept, financial, or otherwise) located in any place that can be legitimately considered within US jurisdiction?

If you answered yes to any of the above question, do you have a money transmitter license from the US government in compliance with KYC/AML regulations? How do we know? Has an independent, trusted person on this forum with credibility verified this?

If you are not, in any way, located in any place where the US can come in and seize any assets in connection to any type of criminal investigation, then where ARE you located? Are you in compliance with your local laws? How can we be sure? What is your evidence? Where are your certifications?

All these questions, and more, must be answered to ensure that you are, in fact, trust worthy and not A) a scammer, or B) an incompetent fool who only knows how to program and design fancy websites.

Anyone who INVESTS in this IPO without knowing the answers to the above risks the possibility that this "magical exchange" located on this website will disappear. Just....like....Mt.....GOX.....!!!!

The most likely future: Countdown! 5.. 4.. 3.. 2.. 1.. FAIL LOL

Good luck on the launch today guy's,

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Strange!

standardcoin.conf file:

Wallet should sync automatically without adding nodes because I set up 2 dnsseed servers for it.
But I still put up a node there just in case.

The BTC you get from IPO can only support 25% STD,
as more and more STD are mined and dumped, the devs have to pay BTC from their pocket which is impossible.

After reading it more carefully, it seems the price of STD after launch will be 1/4 of its IPO price immediately.

看起来不错，我想试试

Yes it is a ponzi scheme...

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I would not be surprised if the people who tried to launch InstaPay are behind this.

Same attempt at an unsustainable ponzi-scheme but with a little rewording.

So an investment is always risky and more in the cryptocurrency-world.
Im going to support this coin because i think the idea is really new. If i lose my BTC well .. so is life

If i understand well.. the price valuation phase last 10 days?

The exchange has 3 layers.
The website at: http://standardcoin.net/ is nothing but a web interface.
The cron server which update the database and interact with the coind is on another server.
The coin daemon holdings STD and BTC are on a server in private secured network which can only be accessed by the cron server.
Plus, Most coins are stored in cold wallets. Only 10% of the coins are on the server.

As I said before. The most risky part when investing is the Price Valuation Phase because the exchange can not send STD to you immidiately. We will have to wait for the Phase to end and let the exchange calculates the amount of STD for each initial investor.
At the Free Market Phase, exchanging works instantly and automatically.
So if you are afraid to lose your BTC, you can wait until the Price Valuation Phase is ended.