Topic: Gauging Interest - A coin designed around expectation of fiat return (Read 560 times)

Bump for a fresh set of eyes - Also, guys, keep in mind that the parameters aren't set in stone. For example, instead of a market cap of a trillion over 10 years, maybe it is 1 billion over 3 years.

Depending on how many people are attempting to sell, you may not need that much new money entering the system to sustain it for a long enough time period for a critical mass to be reached.

Sorry, but your idea won't work. Essentially, you're proposing a provably fair pump operation. That's impossible to pull off unless you and your cohorts have enough fiat to pull off the pump. And even then, how could you enforce each person's contribution to the pump?

There's only one feasible way you could conduct your experiment: create one alt, premine it 100%, and keep the entire supply. Then, throw together an exchange whose reference currency is that premined alt. And then, create & premine one or more other alts and distribute each by whatever giveaway plan you think best. (You might try a different giveaway framework for each.) And then, execute your pump plan by buying and selling each of the newer alts in terms of the original reference alt - the alt whose supply you control 100% at the outset.

No other way to do it on an experimental basis: only this framework guarantees that you won't run out of pump resources. And to be honest, it sounds like an experiment a professor of economics or finance would set up for his/her students. 

Initially it would be a vehicle for speculation, but that's not the end of the world. Primarily it would be an experiment to see how far one can take the idea of a rising peg to dollars.

A coin designed around expectation of fiat return - That defeats the whole purpose of cryptocurrencies. It sounds as if the coin will have no use or intrinsic value, so it is difficult to see why it would appreciate. Please correct me if I have misunderstood the concept.

If there is any interest, I'd pursue it. Or if someone else pursued it with a release under similar rules, I'd probably buy some.

Also, keep in mind that the numbers are up for debate and are only used as examples.

Sounds interesting to me. Is it going to happen or are you just gauging interest?

Sounds like a pretty gay idea if im honest

Sometimes I get kooky ideas, so let me run this by everyone. Also, please don't stop reading at the word "pre-mine".

New coin, rules, expectations:

- 100% premine of an arbitrary amount of coins.

- Issuer sells coins in large lumps on exchanges for very low prices, $.0001 for example.

- After 1 month of selling, all outstanding coins unsold are burned. The result is that the only coins in circulation are those that were purchased for the introductory price.

What happens to the value now?

By buying the coins in the first place, you are pledging to follow certain rules. The rules are these:

- A daily value target is known according to a set function. The value is set to rise from $.0001 to some price per coin over the course of 10 years. The function produces an S curve where the x-axis is time and the y-axis is dollar exchange rate. The upper limit of the curve is set at a target where the market cap of the coin in general is set to $1,000,000,000,000. If, for example, a million coins are sold in the initial offering, then a target price of $1,000,000 would be set at 10 years.

- Participants (buyers) pledge to buy, if possible, any coins below the daily target value and sell any coins above the daily target value.

- After 10 years, the daily target ceases to exist and the coin is free to float as Bitcoin does now.

What is the goal here?

2 goals. The first is to experiment to see if value can become a kind of self fulfilling prophecy, where most participants believe a large reward is within the realm of possibility, therefore they voluntarily behave according to the rules, knowing nearly everyone else is doing the same with the same goals in mind.

The second goal is for the initial participants to make a lot of money.

So... Any community interest in such a project?