Topic: CORION - Price stable cryptocurrency - Always around $1 (Read 21059 times)

Corion is SCAM. I had problems with the SWAP. Contacted the team 4 months ago over zendesk. See my correspondence below. Im sure guys, these are scammers!

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Hi guys,
i contacted you months ago regarding the SWAP. I had problems, but didnt receive any support. Now ive contacted my lawyer and he found people with the same issue. 
I think were going to court, could be a struggle, but at least media and people get the importanc. 
After logging in there is recently not even a dashboard.
Im sure, you guys are scammers. And promise, ill report this!


Gesendet: Montag, 18. März 2019 um 16:37 Uhr
Von: "corion" <[email protected]>
An: "Ayhan Bayram" <[email protected]>
Betreff: RE: Your Corion support ticket 692
##- Please type your reply above this line -##
Dear Ayhan Bayram,

We are sorry if the previous e-mail did not give the answer for your query.

We are reviewing the case and we will get back to you shortly. Please note that the review process can take a few days.

Many thanks for your kind understanding and we are sorry for any inconvenience caused.

Kind regards,
Corion support

This email is a service from Corion. Delivered by Zendesk
[Z3V703-K7P6]

Can someone please provide some background on this corionx swap ?

It's not the fact that it won't be on major exchanges, the fact is that this had a good idea but they didn't have the skills to take it to life. Just forget about it and move one

If it won't be on major exchanges there will be no need in it. On what exchange we can see this coin?

So you are trying to create a stable coin that is not backed by real dollar but by some algorithm right? For me dollar backed stablcoins are more trusted  .

TOKEN BURN TODAY:



https://tothemoon.live/?IsPast=False&Page=1&Month=0&Year=0&CoinTypes=CORION+%28COR%29&SortBy=0

Happened that this is the shittiest project ever. Want to transfer your tokens? You have to pay a huge amount of Gas beacause the token contract call ten+ other contracts functions. Price pegged to dollar? Sure, right now is worth $0.06, last at $1 was like one year ago

What the hell happened to this coin ?

The team was never in this topic. I have frequent contact with the team and know that there will be an announcement soon, which the team also posted in the Telegram group.

It seems like the team didn't left the project yet but left this thread which may causes the lost of a large number from the community. The wallet is still under developement for more functionalities.

It's funny that db71  kept saying let's wait till January in past posts. It's April now and he still think it's not dead and give people empty dreams.

Certainly not. The devs are working on an exchange within the wallet. CORION should be a stable price currency, but the crypto exchanges cause to much instability. In the near future CORION probably won't be listed at exchanges anymore and there will be an exchange in the wallet where you can buy and sell CORIONS for a nearly fixed $1 price. From then the demand based coin emissions will start again. This means that every 3 hours there will be a check, are there more CORIONS bought than sold, then a coin emission of 0.3% will occur.

Check the telegram group for more info: https://t.me/joinchat/DZiAgEN27oGI9LVfEzsf_w

is this project dead?

Great support...coins now on cryptopia!

Thanks again!

Have you moved to Parity client for ETC?

About supply, if I remember correctly there are no plans to reduce supply which is very low at the moment by the way

Noob question... if the price rises, and more coins are released to lower the price, do they exist forever? How is the supply reduced when that is what is required to get back to around a dollar? In other words, say the price goes way up, and tons of coins are released to drop it down. But then the price drops way down, all those coins are still out there. I understand how you increase the supply. I don't understand how you decrease it. Do you just wait and hope demand increases on its own, bringing up the price?

CORION is different from Tether. I'll advise you to check the whitepapers @ http://coin.corion.io and read for yourself why CORION is different from Tether.

And the price... it will be $1 again very soon. The devs are working on a new wallet with an exchange inside the wallet and when this new wallet is released, then the price would be stabilized at $1 in a couple of days/weeks...

I have opened a support case, let's hope they moved quicker than ETN support!!!!!

Gotta say, it's not really stable at $1, besides, why do we need this? We have Tether(USDT).

Just tried to send money from wallet to cryptopia and two transactions are not showing.........

Is this coin dead or/and a scam ?

I feel like this is new Tether (obviously) and it shouldn't be used other than quick trades. 1 dollar is 1 dollar, nothing will be completely set to that price using coins. It won't work.

I'm not sure it will be delisted, but my guess is that when there is an internal exchange in the wallet where the price will be always around $1, that other exchanges are to risky because of possible volatility of the coin prices. The CORION devs are hard working to deliver the new wallet on time before the end of this month.

hello db71
are you sure Corion would be delist from cryptopia?
any exchange will coming soon?

What is your problem? Is your wallet 'watch only' or 'for use'? If 'watch only' then read this (if you didn't already): http://blog.corion.io/headline/corion-announcement-wallet-unlock/

Hey.
Tell me, only I have a problem with withdrawing funds from the purse of Corion?
Already 2 months I write in support, but every time I'm sent to wait!
Why such an irresponsible approach? 
Who knows who to turn to?
And after all, I paid for it at the time of ICO Corion.

CORION will be stabilized around $1, say plus or minus 3 cents. This makes CORION fairly unique. The market does not control the price, but the market cap. Lot's of ordinary people don't want to get involved in the future because cryptocurrencies are to volatile. If they can buy a bread for $1 in crypto today but need to pay $1.50 a day later then you can see that volatility of coins is not a good thing.

I do hold a few corion coins but i do not think that the price should be locked, the market should decide the right price of any coin.

This project is not dead, but people are waiting for the wallet update in januari. More info is in the Telegram group.

Is this project dead or is there another channel with more updates as it is way too quiet!?

It is indeed easy to get the price back to $1, but keeping it there is difficult. Lot's of traders at Cryptopia bought CORION and are waiting for a profit. If the price is rised to $1, then they certainly will sell and the price will drop again. So 1.5 BTC is not all what is needed.

There are also still some ICO investors waiting for a good price to sell their amount. And last, investors who desperately need some cash and investors who think that there could be more profit in other coins will also sell at higher price levels.

The stabilisation fund should have been used from the moment that CORION was listed at Cryptopia, but they waited to long. The CORION foundation tried it a couple of times, but didn't expect to see such sell orders after they rised the price and now it is to late.


When in januari the coin would be delisted from Cryptopia and there will be an internal wallet, then after all day traders sold their coins (to the CORION foundation), the CORION will be stable...

Order books are so thin that I don't believe that you can't rise the price above $1 with just a couple of BTC. I just checked and the way to 9000 sat is just 1.46626273 BTC , how much is the fund? 1 mBTC?

3 Reasons:

1 BTC is dropping (now, not the past weeks).
2 Daytraders on Cryptopia don't know the CORION system. The buy, wait for 5-10% profit and sell. This is to much fluctuation and can't be corrected. That's why CORION is working on an internal exchange where day traders have no influence.
3 ICO investors who only wanted quick profit. Take the 25% bonus, sell as soon as the ICO is over.


2 and 3 combined is to much for the stabilization fund. Expected in januari, the new wallet with internal exchange will arrive. Then CORION would probably be delisted at Cryptopia and thgen the price can be stable at $1 +- 3% (?)

The price for COR tokens as suggested by the developers and written in their technical documentation was to be stable and equal to $ 1 and if the price of the token fell below $ 1, then the project was supposed to hold the price of the token in the region of $ 1 but in practice the price of COR was below 0.65 cents but the project did not raise the price of the token to $ 1.

Hi, I'm not one of the devs, but do know the system.

I made some tutorial movies and one of them is about connecting to the service providers. See https://www.youtube.com/channel/UC_sgitx1bYyCLrcikPVNO8w/videos

The CORION token is not like any other token. Exchanges are for the majority used for day trading and CORION is designed to be used as a daily payment method. Day traders are only interested in quick profit, but with a stabilizing method there will be no profit at exchanges, but the influence of day traders disrupts the stabilization. With an exchange in the wallet only, the price will be more stable and investors who have there wallet addresses connected to a service provider will gain profit if there is demand for CORION. When more and more CORIONS can and will be used as a payment method, demand will rise and so is the profit.



The stabilization is based on coin emissions when there is demand. If there is no demand enough, and the price will drop, then 80% of the transaction fees will be burned. If that is not enough to stabilize the price, then the stabilization fund can buy CORIONS to stabilize the price around $1.

It's very interesting idea, but do you have a view how to realize it technically?

Hi Dev, tell me how to connect your purse with the tokens of the COP to the service provider that you need to do if you have instructions I ask you to write them in this thread. You say that with the release of a new purse, the tokens will be removed from the exchange, why the project removes the tokens from the exchange? It seems to me that tokens should be traded on different sites so that there is a great interest in tokens.

CORION is the main token. The CORION Premium is a kind of share where you get dividend for. There are only 852 CORION Premium tokens, ever. The CORION Premium is not on any exchange. In the near future, when the CORION wallet will be updated, then the wallet gets an internal exchange and there you can trade the CORP, but they will be very valuable. I don't know if you the CORP can be split in fractions.

The system is working as it should, except for the stabilization fund which is nearly used to stabilize close to $1. You get profit if the price is $1 or higher. There is a marketing campaign ongoing and when the new wallet in early 2018 will be functional, then CORION will probably be removed from the exchange because the new wallet gets an exchange and a couple more coins will be added, like BTC and ETH and even fiat in the near future.

CORION is not meant for day trading, but for long term investments and for a payment system in daily life.

    Damn, this coin really is solving a lot of problems that other coins have. I mean, stabilization is a big problem in the crypto world. It is very very hard to achieve. And with this, it just might happen. I mean, this could really work! If i may ask, what is the price of corion today? Really am interested on how this is gonna move later on.

What is the difference between the token CORION Premium from CORION tokens where I can now buy CORION Premium tokens and how much is 1 CORION Premium token. I did not see that CORION Premium tokens are being sold on the cryptopy exchange, where only the CORION tokens are sold. When will the project start working normally and give profits to investors?

There are unlimited coins available. The coins released at coin emissions (max 2.5% a day) will be divided to investors who have their wallet connected to a service provider and the service providers.

Interesting system of keeping the value of the coins , and when coins run out, what will happen? And how might investors make money with such a mechanism?

I think you confuse CORION and CORION Premium. With the first you don't get dividend, but can get profit from coin emissions if the price of CORION is above $1 AND you connected your wallet to a service provider. If you own one or more CORION Premiums, then you get dividend. I don't know when there will be dividend paid, that question can be better asked at the CORION Telegram group: https://t.me/joinchat/DZiAgEN27oGI9LVfEzsf_w

Hello, i want to ask at the expense of dividends in the white paper of the project it was written that every holder of the COR tokens will receive on its purse where the COR tokens of dividends are stored after a certain period of time. But I do not receive dividends from the project for about 3 months. Tell me why the dividends are not paid with what is it connected and is the project going to fulfill the conditions prescribed in white paper? When and how can I receive dividends from the project? Thank you

may soon be on display in a marketplace as this includes the promise of a project so that participants in the project will soon increase in the near future.

There are only coin emissions when the price of COR is above $1, so only when there is enough demand for COR. You can read this also in the whitepapers.

You need only a small amount of ETC to perform transactions. For one transaction 0.05 ETC should be enough. You can find more info about transaction fees at http://help.corion.io/knowledge-base-topic/wallet/

In the white paper of your project, it was written that holders of COR tokens will be paid each day dividends, depending on the number of COR tokens on the wallet, but for some reason I did not enroll dividends at all. Tell me why are not dividends accrued with what is it related?

Hi, tell me I want to sell my COR tokens. Does the translation of tokens from the ETC purse to the exchange work? How many ETC it is necessary to have on my wallet in order to convert the COR tokens to the exchange?

Hi

Want to sell corion premium tokens for 0.265 BTC/piece.

Send me message.

The CORION website is now available in English, Korean, Russian and Hindi language and more languages will follow soon.

contact: [email protected]

i cant use the wallet at  https://www.corion.io/wallet.
when i want to make a transactions there comes this message:
"Undefined error, please contact us with the details"
anybody can help??

The current stable price has been USDT, Altcoin is currently required to have a low transaction fee, USDT transaction fee is still quite high, approximately $ 5

I'm not from the CORION foundation, I'm just an investor. But I have invested in other coins to. Can you show me one coin which has terms and services where they do not almost completely put the liability at the investors?

Everybody knows/should know that cryptocurrencies are a risky business.

The terms of service are hard to find, but they are at https://www.corion.io/tos. In part:


So Corion tells us explicitly that we are not to rely on anything we are told on their website.

Lots of other very pertinent caveats too.

Can't get much clearer than that.

Ha. Heres some food for thought:

1. The transaction fees will be burned? You think having a shitcoin with no transaction fees will cause it's value to rise?
2. Your stabilization fund should be called manipulation fund. Do you think you will have enough funds to influence the market? And if ever you do have enough, why would you in the first place?

Red flags everywhere.

I quote myself:

Allow me to quote myself:


You said so many things but it seems you are having a hard time answering that simple question eh?

Keyword is downward. I get than when there is demand (price is upward), you will release corion emissions whatever. But what about when price is downards? Will you reclaim destroy corions?

I don't twist your words. If everyone sell at the same time, then CORION is dead. This can happen with all coins or normal money (fiat).

2.5% is not a daily dividend. It could be up to 2.5%. Last couple of weeks is was 0% Just the past day there was 4 times an emission of 0.3% so together 1.2% in a day. Today nothing, cause there is not enough demand.

So not a Ponzi scam. Only when there is demand, there will be emissions.

Just compare with other cryptocurrencies. Take BTC for instance. People are mining new BTC. This will increase the market cap. If there was no demand for BTC, then the price of BTC would drop. But there is demand and the price is rising so there is profit for people who keep BTC. CORION works slightly different. If there is demand, the price would rise like BTC. But now new coins will be released to drop the price again. Those new coins are divided to all CORION holders (who are connected to a provider) so like BTC you gain profit, not because the coin is worth more, but because you get more coins.

Both BTC and CORION generate profit when there is demand. So they are not that different. The only thing that does really make a difference is that BTC can fluctuate enormous but CORION will always be worth around $1 (unless your doom scenario kicks in)...

Don't twist my words. My request was simple. What technology do you have in place that will ensure that price will not continue downward? New coin or whales or not, what if people think your coin is shit and everyone sells, what the hell are you talking about when you say price will remain at $1?

Cmon, you offer 2.5% dividends daily? Do you expect people to fall for this? Sorry but until you give more details, this smells like a ponzi scam.

Depends.

Stabilization if the price rises above $1 is a smart contract based system by releasing new coins. Releasing new coins causes a higher market cap and this normally would depress the price. If the maximum of 2.5% new coin release a day appears to be not enough, then the CORION foundation can sell as much coins as needed.

If the price drops below $1, then transaction fees will be burned. If the price keeps dropping, only then the stabilization fund will be used to stop the dropping.


Extreme sell or buy orders can influence the price. This can happen with all coins on exchanges, also with the other stabilized coins like Tether. Buy realistic, there are not big wales yet and if there will be in the future, then the market cap is also bigger and even then big wales can't influence the price that much as in your example.

Edit:

And yes, you can think of stabilization is manipulation. But is manipulation not a synonym for stabilization in this case, and not a bad thing? The CORION foundation buys CORIONS from sell orders which are below $1 and it costs the foundation BTC. Doesn't look like a scam to me...

I don't get it. Can you ELI5 (explain like i'm 5) how a coin, which is driven by supply and demand on an exchange can, as you say, maintain its $1 value? What if a big whale sells 1000000 million corion coins at $0.0001?

I don't see how that can be done without manipulation. Sounds like a scam if you can't explain it simply.

First time I heard about. It is a cool project and we definitely need more things like this. But I do not see so many uses to invest. Will be only good for the exchanges that start to adopt this. But would still be treated as an altcoin and not the way USDT is see.

CORION is quite new. It's gaining slowly more and more investors. There where 4 coin emissions past 24 hours, so there where probably a couple of new investors. Tether is 2 years old and only the last 6 months there was serious volume. It takes time for a new coin to grow and get widely accepted.

CORION is a coin which goal is to become a worldwide accepted payment method, unlike Tether, which is mainly developed to convert cryptocurrency to fiat and vice versa and mainly on exchanges.

You can trade COR on Cryptopia and send them to the online wallet, if you registered one at http://coin.corion.io On Cryptopia you can trade different coins to COR. Bitcoin is ofcourse one of them.


Tether is indeed a coin where you can safely store your cash when other coins are volatile, but Tether has also some bad reputation. Check the news from last week about Tether. It's up to you what you believe is true.

CORION on the other hand is also a stable coin, but has the advantage that you can gain profit from CORION with coin emissions. It's kind of Tether++

Not sure what is this different from Tether.

Tether also always stays at 1 USD and it can be used when the alt market is volatile. We can buy tehter(USDT) and hold it for some time until it is time to invest back in the market.

Tell  where can I now sell or buy COR tokens? Heard that they are traded on the exchange of cryptopiya to transfer tokens from the COR purse to the exchange I will need to have on the balance of the ETC purse or the commission for the transaction is paid to the COR tokens?

Hi Dev in your technical documentation wrote that the participants who have COR tokens will be credited with dividends every month but I have about 250 COR tokens on them there is no dividend you can tell why no dividends are accrued? Thank you

29% of the capital after ICO can be used for stabilization. These funds can and will be (partly) refilled by selling CORIONS via 'Hubs' which are local exchanges from/to fiat which will be rolled out in the near future.

How large is the "stabilization fund"?

And will it be refilled when being used?

The devs will start a big marketing campaign in the next couple of days/weeks.

First time I heard this alt and now considering buying some after seeing its historical graph on coinsmarketcap yet still having little doubt since it has quite low volume. Maybe devs need to spend a little on awareness and advertising programs so many people would have an eye for corion.

This topic is about CORION and CORION Premium.

What is CORION?

CORION is a cryptocurrency which started with an ICO which ended in august 2017. This cryptocurrency has a stabilizing system which keeps the price of one CORION as close as $1.00

How does this stabilization system works?

When there is demand for CORION, the price will rise. Every 270 ETC-blocks, about 3 hours, the price of CORION is checked. If the price is above $1, then 0.3% of new coins will be released. Those coins go to all CORION investors who are connected to a so called Service Provider or are a Service Provider. Because of the increased circulating coins, the price will drop again. If the price is below $1, then 80% of the transaction fees will be burned which reduces the amount of coins in circulation. If this is now enough, then the CORION foundation can use a stabilization fund to buy coins on the market.

What is a service provider?

A service provider is an investor who blocks 3000 of his/her CORIONS in the CORION wallet and were other investors can connect to. A service provider can give up to 70% of the coin emissions to the connected investors. This is a fully automated system with smart contracts. The connected investors can check if there was/were coin release(s) and claim the coins if available. Many service providers have extra services. If you want to connect to a service provider, then you can check every service provider's extra service and decide which suits you most.

Can I mine CORIONS?

You can't mine CORIONS. New coins are released upon coin emissions.

What is CORION Premium?

CORION Premium is a secondary coin with a low market cap. There are just 852 CORION Premiums in circulation, ever. During the ICO major investors got 1 or more CORION Premiums. The CORION Premium is kind of share and cause they are rare, they are very valuable.

Where can I get CORIONS?

You can buy CORION at Cryptopia. In the near future CORION will have an exchange in the wallet and there will be so called 'Hubs' where you can buy/sell CORIONS with Fiat.

Where can I find more information about CORION?

CORION has a website at http://coin.corion.io where you can also register for the free online wallet and find the whitepapers and future roadmap.

You can also check out the CORION Telegram group: https://t.me/joinchat/Au-wC0N27oHzr1uj22X0PA

In this topic you can discuss CORION. Do not promote other cryptocurrencies or other business in this topic!

If you still have not received the translation bounty, please send an email to [email protected]