Hey bud, glad to have you on board, and thank you for the support
Yeah it's a slow grind, market is holding which is my main concern, as long as we have stability.
I'm also working on getting up the recyclers, for price stability as well, but with some variations from the original design to allow NIRO to be purchased through the channels at a fixed rate which will prevent market bubbles, and also produce BTC that can go into the bot to maintain price holdings on the buy side. I've noticed this is one of the more influential concepts that drives market bubbles, someone buys up X BTC worth of NIRO on the sell side, and the buy orders don't come up as high, or have as much liquidity, so in essence, when someone is allowed to purchase X BTC worth of NIRO from the recyclers at a fixed price (lowest sell order), without driving the price up, this will allow the impulse buys, but also slowly stabilize the market for instead of the price increasing on the sell side and increasing the % spread between bids and asks, it will reduce the % spread, and increase the buy liquidity which will maintain the price, and slowly push it up as more buys come in from more BTC being produced from the recyclers. Once NIRO is purchased from the BTC on the buy side, with someone dumping on the order, the NIRO will be transferred back to the recyclers to be sold once again keeping a nice flow of coins between exchanges and recyclers, and helping to stabilize the price.
We are considering putting this off until we get the money transmitter licenses which could take some time due to it costing about 50k per state, which would put the grand total to 2M for all 50 states, but I believe if we register with FINCEN as a money transmitter, this would be a good start and enough legal protection to allow the recyclers to function.
The reason I am choosing to move more towards NIRO - BTC rather than CLONE - BTC - NIRO is to prepare us to go mainstream, in which having investigations as to whether the recyclers are market manipulations would be superfluous to our direction, in which the main point of the recyclers is to stabilize the price, and stimulate the economy, in which this system will do just fine without the need for clones.
The second reason I am deciding this new approach to recycling is the fact that to dump CLONE for BTC will prevent scams, but it will cause innocent people to buy into the scam on our dump, which will not be of benefit to all. This is why I am developing what I call a "Merging" system, in which clone coins that have been abandoned, and left with bag holders will be able to be merged into the NIRO, with minimal inflation to the NIRO, and a way to help those recover their losses by bringing them together into a stronger growing economy.
This was the second aim I had for the recyclers, to help people, but as stated someone will always end up holding the bag, so between the new recycling design and the merging, I believe this is the best way we can help to start refining the industry.
To deal with scams, we are developing the "Alerts" platform, to contain "red zones" and "green zones", to alert any user of the platform as to assets that have been flagged as "potentially hazardous", and assets that have been "verified" though code reviews, market statistics, threads, and so on. This will give "green zones" ranks, that will be drawn from many different data figures. I believe the best way to prevent these scams is through public awareness to their manipulative techniques, and provide a system with a wealth of statistics to not only show weak assets, but bring to the forefront assets that have been well developed.
But of course, I won't finalize my decision until I have heard from the community, so please, if there is anything you dislike about what I have just described, any ways you believe it could be improved, please do communicate how you believe the ideas can be refined.
Thank You,Viz.