ย You do say it is a stable coin but when its on exchanges the "stable" is in the hands of owners of these tokens. So say if people just use this ICO to make some short term income , they will sell the tokens right off the bat for profit and then it will have a steep decline . The "labor-time" algorithm you have would fail in that matter.
ย Since this will be exchangeable to bitcoin , the price will fluctuate for whatever amount people want. You think your job worths 100$? Well you can charge whatever token is equal to 100$ , who cares if its 1 token or 1000 token as long as you get 100$ worth of it?
I'm not really sure I get what you mean, so I'll try to go a bit in detail.
So there are TIME tokens, that act like shares and provide rewards, still being just tokens. They are not stable-coins, they are freely traded on some bitcoin exchange.
Then we have Labour Hour Tokens (LHT) - these are stable-coins. A Labour Offering Company (LOC, there are many of them) issues some quantity Q of those LHTs and sell them with the help of Chronobank Entity (CBE) on the open market. These Q LHTs mean the promise (actually, it's a contract) to provide certain amount of work expressed in Q average hourly wages. However, hourly wage steadily grows a bit, while number of labour hours to be provided by LOC stick to Q - number of LHT. So fundamentally price of 1 LH token should slowly rise by a little bit.
The sum of all Qs is a huge number, so you can't just easily to shake market. Thus the attractor will be somewhere near the fundamental price. Additionally, in order to preserve LHT from volatility CBE will act as a market maker, using some liquidity reserve in order to buy and sell LHTs automatically by the price equal to fundamental average hourly wage. So the price will always be near those average wage.
Yes, your observation is quite correct. It will be hard to maintain price at this level or increase it.
The price will be protected by labor price depending to the country or location i think its worth buying specially the first days of ICO after all bonuses are great.
The company behind it which does have years of experience in the recruitment industry is solid.
The price of TIME tokens is quite different thing than the price of LH tokens. Please, be sure to read the whitepaper before you start investing: https://chronobank.io/files/whitepaper.pdf
Also worth reading:
FAQ: https://chronobank.io/faq
Business Outline: https://chronobank.io/files/business_outline.pdf
Development Plan: https://chronobank.io/files/business_outline.pdf
Thank you guys!