Destroying the coins would not only be better for short but also for long term development of DIEM.
Reducing coin supply will drive up prices.
Adding coins will lead to declines.
If new investors wanted to get into DIEM coins they can just buy them on the exchanges, they do not need another IPO.
How would destroying the coins be better for long term development compared to having a boat load of money to promote the coin, educate people about crypto currency, and get it into businesses down the road? To make progress we will need funding. Were competing against 500 other coins out there that all do the same thing in most regards. Short term you are correct, it would drive up prices. However without being capable of being in the public eye how long before people get bored with us and we fade off into oblivion? Also keep in mind, we are not adding coins to the supply. IPO is probably the wrong term to be using. We would simply be releasing them back into the market. I don't think releasing them at the same time would be the best scenario after some thought either. Slowly in multiple ways using leverage whenever we can to get the most bang for our buck. I would really love to hear some of your thoughts if you would hop into our IRC and chat for a bit. Freenode #carpediempool Sounds reasonable. I agree that you need funding to promote the coin. There is fierce competition and the risk is that DIEM gets forgotten soon. This is why you should find ways to communicate to the community and investors the benefit of DIEM over other coins. The torture test is always to ask someone who is not part of the team: Would you want this coin? Would you buy it? I for myself, did not grasp why I should hold DIEM and not one of the other 500 coins. I am happy to jump into the IRC in some point, but no time today. CARPEDIEM! |
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Destroying the coins would not only be better for short but also for long term development of DIEM.
Reducing coin supply will drive up prices.
Adding coins will lead to declines.
If new investors wanted to get into DIEM coins they can just buy them on the exchanges, they do not need another IPO.
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My Plee to NOT destroy a golden opportunity
First, the buy wall will be there to stabilize the price when people decide to dump. At first I thought about putting up a wall on both sides to truly stabilize the price from irresponsible pumps as well as dumps to have full stabilization but that would stunt growth.
I am afraid the objective is wrong. Keeping price stable will not help enough. The coin needs to GROW. If there is no growth = price rise, noone will be interested any more. |
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what's up with the ginormous sell wall on poloni? 1.3B coins for sale for about 445 ltc at 34 litoshi  I guess diem is never gonna see 35 litoshi again...? One of 2 things... Either someone is trying to hold the price down to buy cheap or someone is just dumping. Not sure. Last time it went down after we took a few nibbles off it it im thinking someone is holding the price down either of it could the case. but I am not sure about the definition of "HUGE SELL WALL". the 445 LTC sell wall is equivalent to about 5k $. If there was serious interest for investors to hold DIEM, taking out this sell wall would be a piece of cake. |
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and.. try to get some long term investors in. given the low market cap, if you get a few bigger investors in who will be longterm holders, DIEM price could explode up
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The benefit of keeping them is we basically have a whale backing us that doesn't need to necessarily make a profit and we don't have to worry about it dumping on us. Consider the unclaimed coins our own personal Wulong who won't fuck us over. We can do whatever we decide to do with that coin to build LONG TERM strength in the coin. We just have to figure out what to do with it that will maximize the benefit.
If we destroy it we get a % bump in value and we are just another coin on the exchange. I want more from this coin! I want to make millionaires out of every one of you. And if your already a millionaire I want to make you a billionaire.
LETS FIGURE OUT HOW TO MAKE THAT HAPPEN!
sorry for my lack of understanding. I still dont get the situation. What do you mean "The benefit of keeping them is we basically have a whale backing us that doesn't need to necessarily make a profit"? For instance: We do an IPO with the unclaimed diem that leaves us with lets say 25 BTC in the bank. One thing we could do is is use to put up a buy wall to absorb large dumps and stabilize the price. market manipulation with walls will not help long term. what you need to do is creating demand for DIEM, so that price goes up sustainably. doing an IPO will actually create more downward pressure since it increases the number of open market coins I agree. Creating demand for the coin is key. The wall is by no means ground breaking or revolutionary since BC announced it with their BlackShield and more coins are copying them. Just one idea of a hopefully multi layered approach. I'm going to put my ideas down on paper this week and prob post it next weekend. In the mean time I want to hear your thoughts and ideas. How are we going to create demand for DIEM? Obviously the end game will be merchant services and Coinbase like DIEM/Fiat exchanges but we need to grow before we get to that point. We need to build our community base and our name recognition. Think BIG! Imagine we have $25,000 at our disposal. We don't want to blow it all in one shot, I think it would be best to create a system which would allow that fund to grow while we also put profits to use growing our Coin. to create demand you will first need a UNIQUE SELLING PROPOSITIOn. Try to answer the questions: 1. What is unqiue to DIEM? 2. Who should someone bother to get into it? 3. What is the benefit to purchase DIEM coins vs. other cryptocoins? = why is DIEM coin better than others? if you have answers to this, you can start communicating this message |
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The benefit of keeping them is we basically have a whale backing us that doesn't need to necessarily make a profit and we don't have to worry about it dumping on us. Consider the unclaimed coins our own personal Wulong who won't fuck us over. We can do whatever we decide to do with that coin to build LONG TERM strength in the coin. We just have to figure out what to do with it that will maximize the benefit.
If we destroy it we get a % bump in value and we are just another coin on the exchange. I want more from this coin! I want to make millionaires out of every one of you. And if your already a millionaire I want to make you a billionaire.
LETS FIGURE OUT HOW TO MAKE THAT HAPPEN!
sorry for my lack of understanding. I still dont get the situation. What do you mean "The benefit of keeping them is we basically have a whale backing us that doesn't need to necessarily make a profit"? For instance: We do an IPO with the unclaimed diem that leaves us with lets say 25 BTC in the bank. One thing we could do is is use to put up a buy wall to absorb large dumps and stabilize the price. market manipulation with walls will not help long term. what you need to do is creating demand for DIEM, so that price goes up sustainably. doing an IPO will actually create more downward pressure since it increases the number of open market coins |
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The benefit of keeping them is we basically have a whale backing us that doesn't need to necessarily make a profit and we don't have to worry about it dumping on us. Consider the unclaimed coins our own personal Wulong who won't fuck us over. We can do whatever we decide to do with that coin to build LONG TERM strength in the coin. We just have to figure out what to do with it that will maximize the benefit.
If we destroy it we get a % bump in value and we are just another coin on the exchange. I want more from this coin! I want to make millionaires out of every one of you. And if your already a millionaire I want to make you a billionaire.
LETS FIGURE OUT HOW TO MAKE THAT HAPPEN!
sorry for my lack of understanding. I still dont get the situation. What do you mean "The benefit of keeping them is we basically have a whale backing us that doesn't need to necessarily make a profit"? |
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so whats the plan to drive diem forward?
That is going to depend on the community. Were going to have a large number of unclaimed coins. We have to figure out what to do with them. If we destroy them we get a small pump and become just another coin. If we keep them we can do some incredible things. what is the benefit of keeping them? what is the downside of destroying them if noone claims them? |
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so whats the plan to drive diem forward?
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Very sorry for the delay guys. The coin should be done later today.
good that you communicate. that said, you should be more specific and communicate a deadline and then stick to it. this is the simple but magic formula in PR :-) I agree 100% unfortunately its out of my control. Did you say when the switch was supposed to happen on Polo? Yesterday  New coin should be done soon and then as soon as the exchange admins are ready we'll do the exchange any news? |
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Very sorry for the delay guys. The coin should be done later today.
good that you communicate. that said, you should be more specific and communicate a deadline and then stick to it. this is the simple but magic formula in PR :-) |
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How it the order book affected? I.e. at Poloniex, will existing orders all be cancelled or will they be transferred to the new DIEM coin order book?
Im not really sure. My guess is it will need to be rebuilt, but that's a good question I asked Busoni this question in the trollbox. He said orders would not need to be cancelled and that it should be a seamless swap out. that`s great to know. Hence, trading remains uninterrupted I guess. |
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How it the order book affected? I.e. at Poloniex, will existing orders all be cancelled or will they be transferred to the new DIEM coin order book?
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Deadline in less then 24 hours. Could be an easy 10mil DIEM. Get your logos in!!!
can you tell me how many coins have been mined to date.
what is the market cap of DIEM?All the coins have been mined at this point so there are 21.6 Billion of them floating around. http://coinmarketcap.com/ has us at $ 93,938 right now. |
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Deadline in less then 24 hours. Could be an easy 10mil DIEM. Get your logos in!!!
can you tell me how many coins have been mined to date.
what is the market cap of DIEM? |
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