CombiCoin update #4 - All investors are up ~ 30%!Dear investors,
It has been three weeks since the last update. In the meantime we haven’t sit idly by and have been working on various things on which we’d like to update you.
Current CombiCoin valueAs explained in our previous newsletter you can follow the price of CombiCoin on our website:
www.triaconta.com. We also added a pie chart showing the distribution of the assets backing CombiCoin.
CombiCoin started with an initial value of $ 8.64 and we are happy to report that at the moment of writing the value of CombiCoin is $10.48 which is a 21.2% increase in 3 weeks.
TRIA token is listed on Etherdelta.comFrom the 3th of November TRIA token has been listed on Etherdelta.com. You can trade TRIA tokens to Ethereum on this exchange. If you have not traded on EtherDelta before please go here for a tutorial how to trade on EtherDelta:
https://triaconta.com/etherdelta/At time of writing already a few hundred TRIA Tokens have been traded with an average of about $ 3 USD.
As mentioned in the whitepaper CombiCoin will be listed on an exchange in January. We are aiming to list CombiCoin on an exchange that supports EURO or USD.
Referral campaign & bountiesAll bounties and referral rewards will be distributed this week (6-11 / 10-11). Referral rewards can be found here:
https://docs.google.com/spreadsheets/d/1hZSTwyl9N4g-qlLu3oHCWRvK2YOA06svYNXcmfQ4coY/edit#gid=0In the above mentioned list you can look up your wallet address to see if you receive a bounty or not.
The other bounties can be found here
https://triaconta.com/bounties. The list with bounties is final and emails or questions regarding these bounties will be ignored.
Re-open CombiCoin salesWe’ve had a lot of requests from people that either missed the ICO or that want to buy more CombiCoins before it hits the exchange in January. We are going to open the sales of CombiCoin on our website within two weeks. Sales will be done in a way that will benefit all TRIA token holders!
When someone buys CombiCoins on our website a 5% service fee is charged. 50% of this service fee will be reserved for TRIA token holders. The other 50% is used to cover the costs for manually buying the assets backing CombiCoin.
We expect to distribute the first profit share that is created by our automatic exchange software in February, during this distribution we will add the profit of the websales of CombiCoin. We will keep the sales via our website open until CombiCoin is listed on an exchange in January.
Software developmentThe development of the automatic trading software is on track. At this moment the software is connected to 5 different exchanges (Bittrex, Bitfinex, HitBTC, Binance, Poloniex) and more will follow. The software combines all data from these exchanges in real time into one big order book with over 23,000 entries. The complete order book is updated more than 1,000 times per second. The next step is to create the software that calculates the current buy/sell price of a CombiCoin and places orders on an exchange. We expect to do a first testrun in December.
Forks, staking & votingIn these last three weeks a “Fork” of Bitcoin, called Bitcoin Gold, is initialized.
To explain a fork simple, it is a procedure when a blockchain is cut in two. One of the blockchains remains as it is, but the other blockchain will have some adjustments. This already happened before with Bitcoin resulting in Bitcoin Cash. At the moment a fork is initiated owners of the original coin will be awarded the same amount of the new coin, in this case Bitcoin Gold.
Next to Forks, there are other ways that the assets backing CombiCoin can grow in numbers (instead of value), like staking and voting. In each of these ways the Foundation holding the top 30 cryptocurrencies receives small amounts of crypto by voting or staking. These small amounts are put back into the assets pool of CombiCoin, increasing the value of CombiCoin (slightly!).
During a “revision & rebalancing” procedure the received coins that are not part of the top 30 (like for example Bitcoin Gold) will be sold completely. The next rebalancing procedure will take place on 13th of December 2017.
First of all, let me say that I'm a happy investor. I think the team messed up the bounty program a bit (I was expecting coins but didn't receive any) but besides that they are very professional and it seems like they are doing good work. I'm very happy with their decision to stake the coins as well, every little bit counts in the long term.
Very happy too that sales of CombiCoin will be possible soon. I'm tempted to increase my stake. The coins is less volatile than most others (except for maybe USDT and ETH :p), which gives more ease of mind (I was freaking out this weekend over the BCH/BTC drama because of my BTC stake). But it still gives a VERY good return. I feel like owning some BTC and some CombiCoin is a perfect mix for a buy-and-hold portfolio with low to medium risk. There are other fund options, but these typically charge a holding % and don't participate in staking the coins, so in the long term they will underperform.
PS: please evaluate my earlier request for dropping BCC.
95% of the traffic is on their OWN exchange. Imo this proves it is not liquid enough and should be dropped even if it wasn't a scam (too much dependency on one exchange, price will crash if the exchange has issues or drops the currency).
---> COMBI-154965
