Topic: [NEED YOUR OPINION] I know, it sounds like Ponzi, but... (Read 106 times)
Am the only one who is having a hard time interpreting OP's idea fully? Not that I'm bad with math or something but just not able to relate the business model with the Ponzi. Since the trading (that is buy/sell of cryptos explicitly) will be fully based on a smart contract, there will be no single authority affecting the prices? Sorry if that doesn't make sense but could you give us something in the layman's terms?
So, if in a few words, the idea in creating crypto, that will be backed by other cryptos. I mean, split raised money in different cryptos that paying dividends for Holding, Staking and POS actions and etc.
In this way, the price of this "crypto" will be calculated like:
Current price = ((OP + AE)*P)/N
Where: OP - the sum of original amounts different cryptos, that were purchased on raised money. AE - amount of crypto earned by n time. P - crypto prices. N - the total amount of "crypto".
Make maximally clear (all transactions/actions) to make impossible, fake price by drawing fake stats, make it blockchain based. And also somehow automatize (prob by smart contracts) to let everyone instantly sell crypto (burn) to receive money that they put earlier. And make it maximally secure so none, even owner could somehow wd all or part of funds. The team will take 1% of every purchase of this crypto and around 3 % from the amount of crypto earned by all actions every n period. I know there a lot of weak sides, but I created this idea a few mins ago.
Any thoughts about it? And how hard to create something like that?
In this way, the price of this "crypto" will be calculated like:
Current price = ((OP + AE)*P)/N
Where: OP - the sum of original amounts different cryptos, that were purchased on raised money. AE - amount of crypto earned by n time. P - crypto prices. N - the total amount of "crypto".
Make maximally clear (all transactions/actions) to make impossible, fake price by drawing fake stats, make it blockchain based. And also somehow automatize (prob by smart contracts) to let everyone instantly sell crypto (burn) to receive money that they put earlier. And make it maximally secure so none, even owner could somehow wd all or part of funds. The team will take 1% of every purchase of this crypto and around 3 % from the amount of crypto earned by all actions every n period. I know there a lot of weak sides, but I created this idea a few mins ago.
Any thoughts about it? And how hard to create something like that?
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