SMAC is a different kind of cryptocurrency - Here is why.

Soul_eater_123

legendary

Activity: 952

Merit: 1000

Quote from: billotronic on May 08, 2015, 07:48:05 PM

I will give you thats at least a novel idea, but is artificial price stimulation a replacement for utility?

It would be in the short term certainly and that also assumes that SMAC would have to act as a currency like the dollar or euro rather than a financial instrument.

Another way of looking at it is that SMAC allows holders to be payed back without issuing dividends making it similar in some ways to shares without the legal/regulation headaches that that entails.

Shares themselves don't have much utility either. I can envisage a future where shares could be replaced by cryptocurrencies.

dadon

legendary

Activity: 1190

Merit: 1002

Pecvniate obedivnt omnia.

I don't see a problem with it, the artificial volume is basically for the early adopters, it gives them an incentive to keep holding because the price is always being pushed up, plus those coins bought off the market will be redistributed to the loyal supporters who held and didn't dump, and trust me it's working. the artificial volume is temporary and soon will be accompanied by real volume due to the fact the SMAC team has already sealed a real world partnership with a pay for click company.
another thing to remember is SMAC is only a few months old the first buy back was 25% of the revenue earned from the social media accounts so the total amount made was around 24 BTC and this is first month, they use 30% of that profit to buy more accounts, this coin is very cleverly designed, and the system is working like clockwork, trust me if it wasn't i would dump, and i wouldn't care if it was at a loss, we have a winner here.

billotronic

legendary

Activity: 1610

Merit: 1000

Crackpot Idealist

I will give you thats at least a novel idea, but is artificial price stimulation a replacement for utility?

Soul_eater_123

legendary

Activity: 952

Merit: 1000

SMAC (Social Media Advertising Coin) uses social media accounts to raise advertising revenue and then buy back coins at the market rate to facilitate growth in value.

The first buyback (about 6 BTC) has already occurred successfully and resulted in a near doubling of the value. With only about 600,000 coins in total this is set to skyrocket as more and more buybacks occur.

Coins which are purchased during buybacks will NOT be resold and instead will be redistributed to those who are holding them.

This combined with the usual advantages of a cryptocurrency allows SMAC to become a unique financial tool and investment opportunity.

The team has put together a simple video that explains the basics: https://www.youtube.com/watch?t=10&v=KcVEIdkIfqY

The main bitcointalk thread is here: https://bitcointalksearch.org/topic/ann-smac-accounts-have-been-suspended-project-closed-952083

Official website is here: http://www.smac.io/

Topic: SMAC is a different kind of cryptocurrency - Here is why. (Read 564 times)