Topic: [ANN][STD] StandardCoin - BUILT-IN EXCHANGE - Permanently Rising Rate - page 36. (Read 48005 times)

"Nobody is depositing anything. The exchange works like this..."

If the exchange works like you say it does it is a pretty unique idea.

However, if the exchange doesn't work like you say it does then who's to say you can't just loophole all the BTC to your own personal BTC address?

Or how do we know the software is secure enough so that someone doesn't do the same?

Blind trust is the biggest issue.

Password Protected Wallet is Uploaded. Password will be released on launch.
Download here: https://standardcoin.net/

If I wanted STD, I'd go outside.

BTW its not too late to change it to ASIC-resistant algo.

Looks like the wallet has unique features.But your choice of algo is not good.Anti-asic new algo should be better.

Oops Tomorrow!!!

StandardCoin don't need any future investors to backup withdraws at GER.
Remember that the maximum amount of STD Initial Investors can get is: 100,000,000
Future Investors: 200,000,000
Miners: 100,000,000
So the maximum amount of BTC initial investors can withdraw at 10 satoshi is: 10 BTC.
Maximum amount of BTC miners can get withdraw at 10 satoshi is: 10 BTC.
Maximum amount of BTC future investors can get withdraw at 10 satoshi is: 20 BTC.
The amount of BTC stored always matches the amount of total STD in the network.

chill man i´m only asking..
 What about this scenario..

Current AMC is 40 BTC after valuation phase so each Std worths 10 Satoshi. You have 40BTC to backup withdraws.
1.-You don´t get any future investors quickly.
2.-Miners begin to mine and sell as they always do
3.-Lots of initial Investors decide to invest somewhere else so they also withdraw a big amount ..say 20 BTC
4.- I know the price for STD keeps the same but now there are only 20 BTC to pay for the miners. If they keep mining and no one is quickly playing the part as future investor there wont be any BTC to backup miners selling's.

Maybe im still missing something

WRONG!!!
Even if all initial investors, future investors and miners want to sell their STD for BTC, there is always enough BTC for them.  That is how the system designed.
For example:

We now have 80 BTC stored to buy back STD.
The GER is 20 satoshi.
Total STD in circulation: 300,000,000 STD (including the STD that hasn't been mined yet).
Even if miners mined all STD, investors dump all their STD at 20 satoshi, it only needs 60 BTC to cover them all.

Yeap its a ponzi system with fancy layout who ever cant see it he deserves to get scammed.

Also miners will be the big victims here as the value of the standarcoin will not be enough to cover electricity cost.
Not to mention there isnt any point for miners to exist in this system, this is just a ponzi system in which developer put miners in the game to justify that this is a cryptocoin and he gently described this situation as "coin mostly for investors".

another question.. how about if all initial investors want to withdraw BTC and Miners also .. there would not be enough BTC to give away

Actually,
right after the price valuation phase is ended. The first investor who buy will get the same amount as any initial investors.

Ok.. again thank you for your answers.. i´m going to risk some BTC into your project and see how it works
good luck!

I am not holding anything. The 50% coins can be bought up anytime, and the Bitcoin that is used to buy up the 50% coins will be used to buy back all the STD in the network. So basically I'm not holding anything for myself.
The main profit I aim for is to charge a small fee per transaction (like 0.5%) and buy some STD for myself in the price valuation phase and hold them until price go up (And of course it has to go up because it can't fall).

Ok, thank you for the information.
 I actually like the idea to keep the price steady. So are you the 50% stakeholder for future investors? an idea to make you fast millionaire

Nobody is depositing anything. The exchange works like this:

• If you are a buyer, you only need to enter your STD address to the exchange, a BTC address associated with that STD address is generated. You send BTC to that address and a calculated amount of STD will be sent to your STD address automatically.
• And if you are a seller, you will have to enter your BTC address to the exchange, a STD address associated with that BTC address is generated. You send STD to that address and you will receive BTC to your BTC address at the GER.

So, nobody is risking anything.
The most risky part is the Price Valuation Phase. STD can not be sent instantly because we have to wait for the Price Valuation Phase to end before the exchange can calculate the amount of STD that will be sent to each inital investor.
So you can avoid risking your BTC by waiting for the Price Valuation Phase to end and start investing in the Free Market Phase.

So i think this is a good idea but needs to be better planed..

 One of the most important things for this to work is confidence.. since you (dev) are an anonymous newbie, it is extremely risky for all of us to deposit bitcoin in your exchange. Your fixed exchange idea works like some sort of Bank and for that you shouldn´t be an anonymous entity since the likelihood that you just run away with all bitcoins deposited there is really high for the users. Is like trading with MT Gox but with an annonymus person.

Said so i would recommend all "investors" to work on this with extremely caution.. Im not saying it is a scam but there are some points you (dev) should work.

good luck


p.s here some info about the website domain

WHOIS information for standardcoin.net:***

Domain ID:
Domain Name: standardcoin.net
Created On: 11-Mar-2014 00:00:00
Expiration Date: 11-Mar-2015 00:00:00
Sponsoring Registrar: ENOM (ENOM)
Status: client_transfer_prohibited
Name Server: amy.ns.cloudflare.com
Name Server: gabe.ns.cloudflare.com
Registrant ID: Unknown
Registrant Name: Unknown
Registrant Organization: Unknown
Registrant Street1: Unknown
Registrant Street2: Unknown
Registrant Street3: Unknown
Registrant City: Unknown
Registrant State/Province: Unknown
Registrant Postal Code: Unknown
Registrant Country: Unknown
Registrant Phone: Unknown
Registrant Fax: Unknown
Registrant Email: Unknown
Admin ID: Unknown
Admin Name: Unknown
Admin Organization: Unknown
Admin Street1: Unknown
Admin Street2: Unknown
Admin Street3: Unknown
Admin City: Unknown
Admin State: Unknown
Admin Postal Code: Unknown
Admin Country: Unknown
Admin Phone: Unknown
Admin Fax: Unknown
Admin Email: Unknown

Is it really that hard to understand the system?
Which part did you didn't understand? I will try to explain it again.
Basically. The Price can't false because all the BTC that invested into the coin is used to buy back all the coins in the network (even the coins that hasn't been mined yet). So, no matter how many coins are dumped, the price can't fall.
And as more BTC invested, the price will rise.

Totally Agreed. This is 100% SCAM

But I have to admit that the idea is brilliant. Perhaps someone that is trustable can use the idea and make a coin for us?

newbie+no escrow=scam

 this one looks huge and advanced scam