I have said some advice few pages above but seems no one took attentino to it. Please, take it seriously unless you are wlling this project to collaps. I have been part of the already dying GPUcoin, where the CEO was not listening to advices of the community and as a reuslt GPUcoin died. I love PAWN and I want it to succeed, so please learn from history and do not make the same errors as GPUcoin did.
My advise is: Pawncoins MUST NOT be given as a loan for any alt currency collateral.
This is because:
1. Most of the alts tends to decrease in price.
2. If they do so, people who took the loan wlll be more interested not to return it and choose to loose the collateral, e.g. the altcoins.
3. As a result, the Pawncoin shop will be left with empty bags worth nothing and will loose slowly and gradually the pawncoins it has and uses to gives loans which in result will kill this business.
that's really make sense!
thanks.
i think we may accept real things rather than crypto altcoin?
Of course. Furthermore, the best idea behind taking physical goods as collateral was the initial idea I liked about PAWN as it gives the ability to tie the price to something with constant value, such as for example GOLD coin issued by Poloniex, which is selling real gold for it on fixed rates.
I earlier suggested that it would be great the price to be slowly pushed up on a small steps by fixing rates as per goods which are pawned in the shop. For example, if a TV costs 100 USD and is send as a collateral, and current PAWN price is 0.70 USD, the pawnshop gives 100 PAWNs for the TV
and in the event of TV being lost by customer due to missed dedline, the pawnshop sells the TV for 100 pawns. So when people see that for 100 PAWNs they can buy a TV which is worth 100 USD in real life, the market will adjust itself on all exchanges to the
real value of the coin, which would really be 1 USD. Then nex step would be when price is established stable as 1 USD to push it up to 1.5 USD and so on.
