Topic: [ANN][STEPS] Let's make a new altcoin environment - page 40. (Read 193177 times)

Of course the price could rise, other features could be added to the coin, and so on.

Just saying that your model has a flaw (if anyone was reading it expecting to automatically cash out at their initial investment and still keep all of their coins). Sure, it's possible it could work. The flaw is if too many people think that way, the current price won't remain where it is, it'd go down. Or there simply wouldn't be enough volume to support those selling.

As for what to do with Steps... I mean, if we are all honest here, I expect like 95%+ of the people investing expect to just make a profit with it. That's not a knock on Steps, it's true for pretty much all cryptos.

Now I understand that you meant gaining back their BTC.
Well,I'm not sure what you mean by 'pyramid situation'.
The price could be affected dramatically if everyone sells at the same time and price has not risen in the next months.
Fortunately there are things you can do with Steps,like buy things,services or even sports betting so the coin will not just be another useless high POS coin.And I think we have seen just about enough of them over the last 2 months.

I mean obtain the btc which was their initial investment in Steps to begin with. Which was sort of the point of your post ... calculating how the rewards would be equal or greater than the amount of btc initially paid to obtain Steps.

Just saying if everyone planned to sell their stake rewards, you'd run into a pyramid situation, where those first to sell would probably get the current price, but eventually it'd cause the price to go down or it'd be not enough volume to support those selling.

'regain their initial investment'.You mean the people who once had coins but have sold them all or some of them?If they try to regain them,they will create buy pressure,not sell pressure,unless I miss something.If they create buy pressure,I think price will rise.If they still have coins,the worst thing they can do is dump,losing the big rewards.Even if they dump,price will go low a bit,but the untouched wallets with big weight will stake like beasts.I remember when AltCoinSteps started sending the coins back to the users from cloud stake.I was getting 3x the stakes for 3 days.
Anyway,this is crypto,and nothing is for certain,as everything else in this world.

The flaw in that thinking is discounting human nature. If everyone does that, they'll create too much sell pressure to regain their initial investment, therefore lowering the price of the coin.

Of course not everyone will stake and other things could occur to increase the price of the coin. But it does have a pyramid feel to it ... basically whomever sells their coins early (after HiPos) will get their initial investment back, but if everyone tries to sell, it'll be too much selling pressure and not enough volume/buy support to pay them all.

So yeah, in theory your model could work... for some.

WOW, great calculation!  Thanks!

Thanks m3rt1x for this nice calculation.
I like this coin and the PoS rewards!
I have also a good staking wallet which is a few weeks old and I get a daily reward of approx. 0.025 to 0.04 BTC ;-)
And this will even increase every 8 days when we move to the next reward level ;-)

OK.I know it's all about the 'Marketplace' these days but I always like to see things from the pure financial view.
Correct me if I'm wrong but:

The Steps POS Reward System can refund the money you invest in Steps by the end of the HiPoS phase. i.e. you invest 300$,you get back 300$ by the end of HiPoS.Because:

(Today 05/02/2016 15:30 +2GMT Steps approx price is 1050 satoshi and BTC price is 391.2$)

75000 coins = 0.7875BTC = 306.29$

75000 coins will get an average of 3 stakes per day after almost 1 week.

The average reward is 245coins per day (as we will enter 180 in a day and the highest will be 300)so,

245*3= 735 coins per day *1050sat = 0,0077175BTC = 3$ per day

The reward system upgrades every 8 days and there are 13 levels to go so, 8*13=104 days to go.

104 days* 3$= 312 $

So,at the end of HiPoS the return of our investment would be 312$,which is above the 306$ that we initially invested.

And we would also have our 75000 coins to have them staking for 1% annually or do whatever we want with them.

I have not taken into account that the Steps's price might and WILL go up because of the insterest for the reward system.

All you have to do is buy your coins and put them in a staking wallet!

P.S. In case you wonder,I have 4 wallets.My best staking wallet,is 3 weeks old and I sent the coins in sets of 1000!


 

That's a good Idea, then people who do want to verify will probably get more business.

Thank you for all the suggestions and concerns regarding the marketplace.

We discussed this issue and decided to add and "OPT OUT" function so accounts does not need to be verified.

I haven't followed this coin very closely, but bought a little semi-recently and was curious so checked out the marketplace.

No way would I want to enter my personal info into the site, nor give it to anyone else in cryptoland. I may be in the minority, but think there are too many crazies in this forum.

What I suggest is a simple rating tool, like others have mentioned. I also see no need for personal info at all if a person is selling digital goods.

 

I agree with ozboy2014 100%. Honestly, the only example we have to look at is dark websites such as The Silk Road and the many others that followed in it's place. I'm not saying that I buy anything from any of these sites but they use a star/feedback system then buyers decide if the sellers are genuine. Everybody who has commented on purchasing something from the Silk Road, for the most part, were positive responses. Great sellers, costumer service and product. I feel that Steps should be set up the same exact way. It's the very reason why crypto currencies exist.

I think the opt out option would be a good compromise, also i think the ideas from Ozyboy2014 look great, but would probably be a lot harder/time consuming to implement, but hopefully

something you can consider 

Sellers: work on a star/feedback rating system. Buyers: decide if sellers are genuine base on feedback.
Option for seller and buyer to verify which will enhance confidence. Perhaps, verified sellers/buyers get discounts on fee/items respectively. OR provide an escrow service of some sort?

Due to the new requirements for the market place, I will no longer be listing items for sale.

I find it rather frustrating and some what hypocritical that the two original devs were not happy about sharing their details with trex and now expect everyone else to do so.

I'm guessing one of the new devs have shared their details with trex as Altcoinsteps and Grandwest ( Andre ) were against this!

This is crypto, so please think very carefully about sending any form of I.D to anyone. I highly doubt the steps has have the correct ISO's or a privacy policy that has been looked over and sanctioned by a third party.

not splitting over 2 wallets, but using coin-control to optimize your staking abilities.
i use for example 5k chunks.
remember, if you change something there, your coins need to mature again, the full 24h.



altcoinsteps.com

Got my first stake, Yay!!!    I dont think all coins have matured yet but if I am correct the 170 payout is worth $0.84 US each ish. So that pays 4 times a day? That is brillant!!!
is it dependant on your network weight? (coins in wallet) what is cut off figure for full payout? would I be better off splitting between two wallets to receive stakes?

Looking good

Where the link for marketplace?