Bitcoin Forum

Hi guys,

This is a simple request for feedback on a project we are working on:

WOULD YOU BUY A COIN THAT CAN GO ONLY UP?


"What do you mean???"

To make it simple:
-  There is a 0-2% FEE on Buy
-  and a 90% FEE on Sell

(via Uniswap/Pancake swap/similar)

Following announcements on the official channels, the SELL fee gets cyclically decreased to 1%.

This decrease would happen if precise requirements are met (work in progress) i.e: the coin reaches x500 the starting price, or every xx days, etc.

It is more complicated, but the idea should now be clear.

Would you be interested? Honest Feedback needed.

Thanks

Seems like shitcoin to me but still there's possibility.
If you have outstanding working product or something similar. That people would like spend money it no matter what. For example you own the Louvre museum or Eiffel tower and you make a rule that in order to enter that place they have to use the token.etc. Of course the entrance fee is constant like for example 20euros. It's your problem how you connect your app to exchanges etc.

Yes, this will only happen if they have strong use case where people will actively use it in their everyday life.

Also, what is the assurance of the OP that it will only go up? We can only gauge your project once you introduced it to the public. And see how they will react on your services. If you are asking now, I don't think you can get a concrete answer to this.

Thank you,

Take Safemoon for example. They have a fee of 10% on every transaction (both buy and sell).

Our idea comes with a similar fee, but with a different % based on the action (buy fee 0%, sell fee 90%) - Basically it discourages people from selling.

Then from the official channel, the team will announce the decrease of the "Sell" fee, so people are free to sell without commissions for X days - until the 90% is back.

Any feedback is appreciated,

It's a too abusive *feature* in my opinion. To incentive people to hold, developers created the staking option, so you can earn interest over your held amount. It makes interesting to hold coins, so people tend to hold it spontaneously because they are benefited in the end, and not because they are forced to. To charge 90% fees from investors is like forbidding them from selling. Furthermore it totally limits trading activity, so I see no point in putting money in a coin like this.

I think the correct question would be: would you buy a coin that eats 90% of its price in fees when selling?

Nice idea of ​​a 90% fee from selling   to force people to only hold their coins and I think the value of your coin will increase. But this strategy does not seem to be effective because it seems that investors and traders will not like this condition. it is still better if the coin has many usecases and has real world problem trying to solve.

No, this is pure manipulation and no real-life use if the coin only features this and nothing else.  I will avoid this kind of scheme like a plague.  The moment the 90% fee is off, we can see a massive dump on this.  I already hate those new tokens that tax 10% of the transaction.  But the curiosity on me says go on implement this kind of stuff and see where it goes.  I am sure I am just watching on the sideline but I bet there is plenty of risk-taker out there maybe this will somehow work for them.

no way. It's like RISE only market. i'm buying it all.  ;D

wait i have to be in the channel to wait for the admin to announce something like zero-fee, that's very centralized already. 90% fee is already bullshit.
so why should an investor punish himself for getting into an investment where he had to wait for before he can liquidate when there's are tons of tokens out there. this is already a scam in the process.

This is the first time I have heard this idea. Still, I believe that it depends on the investors perceptions. If many investors have the same visionary, safemoon will be increase because they all believe that the price of this coin will go up because of the selling fee. HOwever, if most of people consider Safemoon shitcoin, buying it will be useless

If that coin can only rise, I will buy that coin because that means I can make a profit. But I guess that is almost good to be true because as far as I know, a coin needs to give proof if they are a good project to the public so the public can know the real benefits from the project. It is easy to say that the project will only go up to the public, but giving the proof to the public will be difficult.

Every project needs to compete with the other project and need time before the project can increase the price. Maybe you can explain more details to us so we can know what you mean.

90% fee on Selling? Are you nuts, OP?
You're lessening the fee when buying so that people would be just buying, pumping the demand and then increasing the price of course because many had bought, well if there are one anyway in the first place.
Sorry, OP but no.

So where exactly do the 90% of the coins go upon selling?

Come on, Bitcoin is still barely used in "everyday life".. how does anyone expect a shitcoin to have this much success instead?

No one gonna buy such coin and the money must come from somewhere else when people cashing out do you think money grows on trees lol, and this kind of coin could possibly turns into a ponzi coin since considering the 90% fee if someone wants to sell their coin and not losing they must raise the price to surpass the 90% fee required but there's certainly no one with brain gonna buy the coin with that high of a price therefore it could make the holder of that coin who got stuck trying to find people and pursue them into buying their coin so they can get out of that cursed cycle of finding liquidity because the whole model of this coin itself doesn't make sense.

True, because those who are forced to hold due to high fees are not the strategy that everyone wants, but because there is no other better choice, because the price of each new token or tokens in general will not last long at a good price when the fee starts to be cheap.

This kind of design is to avoid dumping thats why they impose negative or tax in selling. Its good to have this kind of feature however if the ecosystem works only on the smart contract and not affiliated to their platform that works and have use case related to that kind of feature then its gonna be a shitcoin that you made or bought just to trade and get profited or lose when no one else bought it later on. There are too many coins and tokens like these on the market. It's not a new sensation actually.

90% fee on selling the coin?? Is this really serious? It will not guarantee that the coin will always goes up. We are in volatile market, it is not sure if that coin will continously  bullish. While I somehow be vague because fee on buying options are too low and the opposite options are too high.

You might want to revise your  fees and since your goal clearly stated that you will discourage traders to sell the coin, that wont be fair.

This only means the only ones who can profit the most from it are those who bought the coins in its early sale. If the time passes by and the coins are still trending I wonder up to how much it could possibly get in the crypto market. I think this idea of yours might work and people might take it as a good idea as well. the only thing left is what kind of project do you offer with this coin that will make an impact to capture the heart of the investors?

The strategy is so mean...people are thinking that they can save a lot because of small fees of buying but they are apparently discourage to sell as it cost high.

How that could be fair to us? No, if that only be our end, I supposed not to do that rather than to buy those coins that are less profitable but of cheaper cost. Maybe I was on limited capital but that was crazy, I mean, it is really huge amount that not all can't afford to pay for it, otherwise they leave their coins stuck on the exchanges.

Correct, those who buy during sale and hold it for so long can totally benefit it. In my own opinion buying coins is best when you know its background and you always find time to see every updates in it. It is good also to buy those coins which is already known in crypto for you to stop those worries. What important in our decision making in choosing what coins to buy may depend also to our friends who were successfully gain profit, it could be our experienced , news and other thing.

A coin must be usful to be in demand, also a lot of depends from the liquidity of the coin, it must be simple to buy and sell coin to increase its liqudity. It is good that there ara services like https://www.koinal.io/ that allows to buy and sell coins directly from bank card. The more simple to buy the coins more people will use it.

A crypto project that doesn't rebounds or retrace and just keep surging and surging is a complete shitcoin, the reason for that surging is pump, the shitcoin is been pumped by unknown groups of people and when they finally had enough the whole project will go way down to the point of no return, stay away

This kind of scheme has retracement.  That is when the 90% fee is waived.  During those times a massive dump can be expected.  Sadly this kind of strategy disables the useability of the coins since once a person uses his coin to buy an item, the 90% fee will be implemented making the price of the item increase exponentially.  So, this scheme will certainly fall to manipulated pump and dump scheme authored by the developer himself.

You buy altcoins certainly have a reason. whether for trading or long term investment. certainly will benefit later by making long-term investments. consideration of the concept will certainly give us an advantage in the future as many people are interested in investing in cryptocurrency. Nowadays there are so many altcoins that you can choose as an investment or for trading

Thank you everyone for the feedback.

Both positive and negative are very useful and appreciated.

A few points:

- It is a shitcoin
- It is a work in progress, things can still change (also thanks to your feedback)
- There is a cycle:

1- You buy low/middle
2- Hold until the SELL fee is decreased (unless you want to lose 90%)
3- Public announcement that the requirements have been met to decrease the fee
4- Sell (if you decide to) when the SELL fee is 0%

5- New announcement that the SELL fee will be reinstated to 90%
6- So you can buy again, and the cycle continues.

Please don't stop commenting, thanks a lot

Well, that’s nice, but having a 90% selling fees? Don’t you think that’s going to discourage a lot of people. Okay I know that you’re doing this because there are lots of people who usually complain about coins like Bitcoin and Ethereum and the rest of them dropping a lot of times, but trust me all those are just making all those noise because they are losing money.

If you introduce this project to all those people they will be avoiding it because first of all they are not sure of whether it will be having a strong use case, and also people want to be able to sell their coins whenever they want to sell it without having any form of obstruction.

Thanks for the feedback.

But wouldn't you be happy to invest in something that is sure to go only up?
It's not that you cannot sell, you just need to wait for the cycle to repeat, plus a % of sold gets redistributed to holders.

Due to what such a coin will increase the price? All this is similar to a Ponzi scheme, where the income of the first investors is provided at the expense of those who joined later. What will happen to the coin when it is no longer bought at this price? The price of an ordinary coin in this case decreases, aligning with the demand. But your coin does not provide for a price reduction.

In my experience and in the entire history of my work, I have not seen the coin only grow. Since it is theoretically not impossible for the coin to simply rise and not roll back. So I probably wouldn't buy such a coin. And in the end, this is not a market, but just some kind of nonsense. It is necessary that there be a normal civilized cryptocurrency market for which you need to trade or sell coins.

The purchase price is very good, but the selling price is very annoying and not very good.
because everyone would want their coins to be sold at any time without problems and doubts because the costs are very high and very annoying, even if there are changes we will not wait for that moment.
It seems that none of the coins continue to go up and I know that all coins go up and down even though they tend to go up will definitely decline.

Thank you everyone again for taking the time to reply.

It is possible I haven't been super clear in the description:

One critic I see is that "you can buy it, great, but you cannot sell it."

That's not true, you can always sell it. Anytime,

Obviously you would lose 90% due to the fee if you sell during the "90% Fee time" - but this time would endure 1 month only to then be reversed.

Example:

- 25 days with a 90% SELL fee
- Announcement on official channels 5 days before the change
- on the 30th day, the SELL fee is decreased to 1% for 24 hours
- then the 90% SELL fee is reintroduced and the cycle restarts.

The risk of losing the investment is low, because if you buy during the "90% fee time", the price can only go up as nobody is willing to sell and lose 90%

You just need to be careful to follow the period announcements to bank your profit

The price of Crypto Assets depends on the balance of supply and demand, This is a market law that will continue to apply throughout the ages and When Crypto Assets are popular and there is a lot of demand, the price is likely to go up, Vice versa, if supply is high while demand is low then the price will go down, and it looks like this is very much reversed with what they offer and promises that the coin will continue to rise and to be honest it will be very difficult to do unless they can manipulate the trading market but that also will not guarantee the price of the coin will continue to rise as expected.

If we know that "90% fee time", we can buy it, but we will miss that time if we do not know.

Hmm, I feel that it is too risky to buy that coin because the time to buy is unknown and I guess only the team and closest people to the project will know so they can use that time to buy and make a profit.

If the project is like the other project but can give benefits to people or the public, I am sure the project does not have to do like that because people will realize the benefits of the project so that they will buy and sell or use it. That can make the supply and demand will happen.

I don’t think that manipulating transaction costs can make the coin continue to rise in value. If this were possible, I think that this technique would have already been used by others. Artificially holding back the possibility of selling the coin is unlikely to increase demand for it. However, the idea is interesting, I would like to see what happens. True, look only from the outside.

sounds like a shitcoin scheme, how can there be a coin that can only go up, and you set a fee of 0.2% then 90% to buy, so you have to make sure someone buys the coins every day, then what if the price has reached 500x times will people continue to buy?

I don't really think that these "mechanics" really help your investment to grow in value. I mean if everyone knows that there are 5 days each month where they can sell their bag without the hefty 90% selling fee, than everyone will just wait for that period and then everyone wants to sell their tokens at the same time which will result in a massive dump. I don't see any advantage in this model over a normal coin that you can sell anytime without a fee and i think you should overthink your model again because in my opinion it only deters new investors.

It is hard to tell but base on the fee maybe I would just ignore it at first since the fee for selling is too high,
But as time goes by and I see that it is doinh well I might consider it.
Who doesn't want to invest in a crypto that would only go up?
It is hard to believe right now and I think most of the member would also agree to it.
The way you promote it sounds too good to be true and you know what they say about it  ;) .

So why would anyone buy it if they would lose 90% when selling it?

Doesnt make any sence, and yes, looks like a shitcoin

Lol 90% fee on sell? how can I make profit of that coin if the trading fee is high.. I definitely not to buy that coin. Better to buy in the top altcoins than that shit coin.

Buying top altcoins with good marketcaps are also less risky ones to buy and there is very less chances of such coins to dump forever. Shitcoins may pump for sometime but there is always a chance that developers of those coins may leave the project making that coin price close to zero forever.

Not at all because it's not like I can buy tokens only when the market rises.  The market does not always move in the same rhythm.  Although the market is at its peak today, it cannot be said for sure that it will not go down tomorrow.  So I can always trade tokens at any time in any position.

that's what happened today, even now it is also popular among the crypto community, several new projects with the BSC network are very easy to gain market popularity. they create hype in the market and then they leave.
be careful with shitcoin. maybe we can make a lot of profits quickly. but we can also lose our money quickly.

yes those helps on idea as referring use of option that more to defines of one on limitation as how to put target and exit strategy as might the drawing comes as having with different level of acceleration to results as trader to keep on plan with the sequence of entrance.

this situation is usually only exploited by day traders.
in the pump, they perform their expertise in making trades. know that those who learn to trade or invest will never be successful at trading in the current market pump.
Some people will find it safe to buy when it goes down and sell when it goes up.

No, People buy the coin so they can sell it later and get the profit from that.
If selling will require 90% fee, then how can people get the profit ? There will be no reason to buy the coin.
The price of the coin should going up and down, up so the people can get the profit, down so the people can buy it with lower price.

I doubt a coin which such ridiculous feature would do well or stand the test of time. Developers needs to understand that what makes a coin tradable is liquidity and the absence of liquidity due some harsh conditions in place to prevent people from selling would disrupt the purpose of the project. Remember that every one holds a good coin with the hope of selling sometime in the future and to earn some increase in value. A 90% fee would certainly disrupt the possibility of earning from holding a coin.

     The rich quick kid in aide of me gotten quite interested. But when I really thought about it, the idea is the type of thing that wouldn't work if there are good projects out there that really has great use cases which helps better this industry or the world as a whole. Having this use cases makes people trust a coin more. Your idea on the other hand is quite simple and can be manipulated by the team or by big investors specially when the time of having less fees are scheduled. And what about the small investors that would have contrastingneeds compared to the whales? They would be the poor ones to suffer once emergencies in their lives come and they need to pull out their investments. Just doesn't seem that great of an idea in my opinion. Sorry :/