Would you back your coin in retail | Bitcointalksearch.org

fendlestick

hero member

Activity: 546

Merit: 500

Quote from: Hydroponica on June 02, 2013, 07:33:49 AM

So, everyone should have voted yes...Otherwise, why do you support it?

Please vote no if you don't like the idea.

New coins are risky if the prices drops say by half in 12hrs, this insulates the retailer as the coin team props up the rate to provide actual purchasable services.

I support the idea because I wish to set-up alt coin retail e-commerce shops. But I will need to buy stuff with "actual" money so knowing what rate i'll get for the coins when I wake up in the morning would help.

fendlestick

hero member

Activity: 546

Merit: 500

Thanks for your reply, this can be done before an exchange or to provide a guaranteed rate for the retailer while the coins exchange value stabilises, which could take a long time.

This removes the risk of taking on new coins that are not stable in price.

Hydroponica

full member

Activity: 182

Merit: 100

fml

So, everyone should have voted yes...Otherwise, why do you support it?

defaced

legendary

Activity: 2198

Merit: 1014

Franko is Freedom

Quote from: fendlestick on June 02, 2013, 07:07:11 AM

Hi coin releasers, supporters and evangelists.

When you release a new coin would you back it in an e-commerce store? Well you would need to...

1. Send in BTC to the shop.
2. Decide what rate you are willing to pay for your coin.
3. Once your ANY-COIN sales meets the value of the BTC the ANY-COIN is sent back to you and the BTC kept by the retailer.

Example, You send in 2 BTC, once you hit 1.9 BTC sales you get your ANY-COIN coins sent to you and the retailer keeps the .1 BTC profit.

You are essentially pre-exchanging your coins with the retailer, you take the risk. If your coin doesn't fill you get the remainder BTC back.

If you like the idea it can be improved and modified, looking to get some input from community as having somewhere to spend your coin straight away would be a big advantage over other coins.

I like this idea, but Im kind of confused because isnt this how an exchange already works?

fendlestick

hero member

Activity: 546

Merit: 500

Hi coin releasers, supporters and evangelists.

When you release a new coin would you back it in an e-commerce store? Well you would need to...

1. Send in BTC to the shop.
2. Decide what rate you are willing to pay for your coin.
3. Once your ANY-COIN sales meets the value of the BTC the ANY-COIN is sent back to you and the BTC kept by the retailer.

Example, You send in 2 BTC, once you hit 1.9 BTC sales you get your ANY-COIN coins sent to you and the retailer keeps the .1 BTC profit.

You are essentially pre-exchanging your coins with the retailer, you take the risk. If your coin doesn't fill you get the remainder BTC back.

If you like the idea it can be improved and modified, looking to get some input from community as having somewhere to spend your coin straight away would be a big advantage over other coins.

Topic: Would you back your coin in retail (Read 394 times)