Topic: BYC - first coin to be independent from the exchanges (Read 1229 times)
This so called "proposal" sets a new level is idiotic wishful thinking. Just examine the statement "... market cap will naturally grow. .." and no further consideration is needed. As for BYC itself, it's damaged, unfortunately, beyond repair... Just one consideration: given that the number of coins in circulation has more than doubled in the 3 months since the ICO and the market cap set at ICO time (50,000 sat) it is actually remarkable and I would say very positive that price is not (yet) way below what it is. It WILL get there though, on way to final destruction.
It looks somewhat interesting but it seems the Instabuy system must be backed by huge amounts of bitcoin or $ to ensure it can always buy back and not crash.
Edit: Nevermind, "Instabuy must ONLY accept BYC from verified MERCHANTS and not "normal" users." so only verified merchants are guranteed to exchange their coins back to fiat with a floor. Normal users can only use a special BYC exchange.
Edit: Nevermind, "Instabuy must ONLY accept BYC from verified MERCHANTS and not "normal" users." so only verified merchants are guranteed to exchange their coins back to fiat with a floor. Normal users can only use a special BYC exchange.
This looks interesting.
http://coinblab.com/forums/topic/435/byc-proposal
http://coinblab.com/forums/topic/435/byc-proposal
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