Bitcoin Forum

The website

https://onesinglecoin.com/

The rules

Each time someone buys the OneSingleCoin, its price goes up by 20%.
The buyer gets the ability to broadcast a message - it could be an ad or something else.
The seller receives the price minus 8% which gets equally distributed among all the previous owners.
The rules are written in form of an ethereum smart contract. The code is verified on etherscan: https://etherscan.io/address/0x6103281b7d1f7862d692fda42dc06ece61a40547#code

The value for the owner

The buyer can publish any message when purchasing. This message is immortalized in blockchain and published on the website.

Since OneSingleCoin is getting media coverage on crypto resources, the website is visited by a lot of people from the crypto industry. Therefore it's a good place to advertise a crypto-related project. For instance, an ICO.

The goals

The primary goal of OneSingleCoin is to become a cryptocurrency with the biggest price. UPD: the goal achieved on June 22, 2018.

The next goal is to reach $1 million per OneSingleCoin by the end of 2020. Because some coin has to do it after all.

The press

The Next Web article - thenextweb.com/hardfork/2018/06/21/cryptocurrency-bitcoin-onesinglecoin (http://thenextweb.com/hardfork/2018/06/21/cryptocurrency-bitcoin-onesinglecoin)

Check out https://onesinglecoin.com/ to see what previous hodlers of OneSingleCoin have posted.

Update
Meet the 36th hodler of the OneSingleCoin. The new price is 4.73 ETH.

A new article about the OneSingleCoin has been published: thenextweb.com/hardfork/2018/06/21/cryptocurrency-bitcoin-onesinglecoin (http://thenextweb.com/hardfork/2018/06/21/cryptocurrency-bitcoin-onesinglecoin)

Update
The 37th hodler of the OneSingleCoin has arrived. She/he has left no message though, what a shame. The new price is 5.67 ETH.

Update
Meet the 38th hodler of the OneSingleCoin. The new price is 6.8 ETH.

Good projects, which greatly solve and save related employment costs, also help employees get new labor opportunities.

I believe that this project is pretty a lucrative investment at the moment!
 Good luck guys.

how exactly your coins will grows up?
which technology you will implement in this process?
and what you will do, when your token will not be in demand?

Sounds interesting but is it possible that their could be a time and price someone else might not want to buy it for probably not been able to sell it forward? just a thought.

Yeah you're right, is it possible that this situation could happen? We understand the lower the supply the higher the demand and this can reflect on the price but just one circulating coin? 🤔🤔🤔

Update
Meet the 39th and 40th hodlers of the OneSingleCoin. The new price is 9.8 ETH.

https://etherscan.io/address/0x9517b9ba35513b9e345c72b27f4e1bf745284ea3

so this is your address and as i see you purchased this few times by yourself!

maybe to give a price boost !

Sure. When the price is this low, it's a shame not to buy it.

Update
Meet the 41st, 42d and 43d hodlers of the OneSingleCoin. The new price is 16.93 ETH.

The primary goal has been achieved

As of now OneSingleCoin is a cryptocurrency with the biggest price in the market (≈ $8972 a coin). Sorry, BitCoin.

One of the past holders with text based message checking in. Can't believe it was your project that compelled me to finally register after years of lurking this forum.

Can you please clarify how to post an image in the message? Does an imgur link automatically show up as a picture. I was hoping to add a picture message but was fomo'ing hard and wanted to buy while it was still within my affordability.

Side note: It will be interesting to see how long the purchase chain continues. If successful, it might turn into a game of whales.

I shared this project with few friends and most of them considered this a ponzi scheme. To be honest it does fit the textbook definition of a ponzi scheme except the buyer is not tricked into buying for a guaranteed ROI. The buyer knows well that he will not get his 1.12x ETH if there are no new buyers. However the buyer does get to advertise a message to the world which is fascinating.

I was also fascinated by how the calculation favours the most recent buyer. For example, it would take approx 70 hodlers for the price to reach 1million dollars assuming ETH price does not fluctuate much. At that point the most recent buyer who is taking on the the most risk has a potential reward 120k (20% - 8% = 12%) from the next purchase. All the previous hodler do not get much of a reward at that point (8% of 1 million = $80,000 ---> approx $1142 reward to past 70 holders). Even the cumulative rewards for any of the past hodlers does not add up to 120k when the price reaches 1 million dollars. Therefore the most recent buyer takes on the biggest risk but has the potential to get the biggest reward compared to past hodlers.

What will be the endgame for the very last buyer? Is he screwed? Is there any chance for him to recover his ETH. Its all fun and games for participants until it comes to that stage.

Good project and going very well to upward direction. Best of luck for dev

1 coin > 1 btc. looks like scam

I whipped up the following spreadsheet to see how much do each one of the past hodlers make in total based on where the chain ends:

https://docs.google.com/spreadsheets/d/1I7MBUx5zpiH2F-8aDZqpvOtE7hLJ5LOW8NYXqf_g5VU/edit?usp=sharing


One can easily see that even if the chain ends at the 72nd hodler who would pay 2791ETH (~$1.329 million at current ETH prices at the time of this post), majority of the original hodlers would have cumulatively made less than 15ETH (~$7150 at current ETH prices at the time of this post).


Please only change cell B1 to playaround, but if somebody messes up the spreadsheet, then here is a read-only version:

https://drive.google.com/open?id=1oUgiumeSLHo0dxIfomYrHGEVy0xpyBkrX3AsnfpFSOI

The main value the buyer gets is the ability to publish a message when purchasing. So one should consider putting a message which he will get some benefits from. An ad is an obvious choice since the project is getting good media coverage. You can see that a lot of previous owners have already advertised their projects.

Please do not treat this project as a pyramid scheme. The small amount of reward which previous owners get should not be considered as main value (since it's quite small amount even in an optimistic scenario like yours). The main value for the buyer is the ability to broadcast some message to the world and potentially get some benefits from it (in case of an ad) or just have some fun (a meme/pet pic).

shared this project with few friends and most of them considered this a ponzi scheme. To be honest it does fit the textbook definition of a ponzi scheme except the buyer is not tricked into buying for a guaranteed ROI. The buyer knows well that he will not get his 1.12x ETH if there are no new buyers. However the buyer does get to advertise a message to the world which is fascinating.

It's rather referral marketing than a ponzi scheme. Like you mentioned there's real value that the buyer receives - ability to advertise a message. She receives this value no matter whether someone will buy the coin from her or not.

your coin using ethereum platform? I would say you are great if you use your own platform

Yes, it's ethereum platfrom. Creating own platform is too much trouble for a little side-project that i've made just for fun. 

Let's take the wikipedia definition and take it apart.

"Ponzi scheme is a fraud scheme in which a victim is tricked into investing in a company that does not actually do business, and only generates a return on investment when more marks invest. As a result, when the scheme can no longer attract new investors, it dies."

So:
- a fraud scheme in which
It can't be fraud because the rules of game are known beforehand and published as a smart contract code. The rules of game can't be changed either since they are in blockchain.

- a victim is tricked
The buyer of coin is aware about these rules so nobody tricks him.

- in a company that does not actually do business
Owning the coin gives the buyer a real value - ability to advertise her message.

- when the scheme can no longer attract new investors
If nobody buys the coin from the last owner, she just keeps receiving value by advertising her message

Think of this project as a modern version of the milliondollarhomepage (https://en.wikipedia.org/wiki/The_Million_Dollar_Homepage) except the messages are stored in blockchain rather than being just on a website.

there was already one popular 42 coin, which had total supply of 42, you can move your decimal anywhere, there have been a lot of such shit coins, 808, 777, abd blah blh balah, all are dead

Onesinglecoin looks a private coin that can be used for investors, and later among investors who can use, but have a decent value.

but why would it have a value?