Topic: Gatcoin auction concerns (Read 144 times)
Oh also I'm concerned about the total number of coins. There is a " non profit " to stablize the price. Also this isn't minable and I don't see a super solid timeline. I have several concerns apparently but my gut tells me to buy it.
I really like the idea and team behind gatcoin. They also already have a partnership with a large company. The claimed speed of transactions looks promising as well however, the auction feature which allows gatcoins to be exchanged for merchant tokens concerns me. It seems to me that the auction will only devalue the coin. Say there is a 10 dollar target merchant token , it goes on the auction block and bidding starts at 1 gat coin but this is a particularly good merchant token so the token sells at auction for 10 gatcoins. This just devalued my tokens from potentially 10 dollars to 1 dollars.
So essentially what I see here is that the throat of one side of this business has to be cut for the other to thrive. Either the market tokens are very hard to obtain outside of airdrops because to dollar to gat coin price is too high OR the merchant token side does well and the auction continually cuts down my investment. Anyone have a different perspective on this?
So essentially what I see here is that the throat of one side of this business has to be cut for the other to thrive. Either the market tokens are very hard to obtain outside of airdrops because to dollar to gat coin price is too high OR the merchant token side does well and the auction continually cuts down my investment. Anyone have a different perspective on this?
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