Show Posts
Then please refrain from posting confusing stuff in your discord. Either way there is one thing I do not understand in the entire concept. When people loose will they buy Tokens on the exchange at a price of 0.1ETH or will new tokens be minted at a price of 0.1ETH. If they are minted at such at that price there is no reason for people to buy it really. Since people will dump immediately for gainz. What point would holding do good? Not a lot of people would be holding since just having the tokens would not really do anything and more tokens will be created over time.
Now if people where to buy the tokens at the exchanges for 0.1ETH a piece...
And filling all the sell orders this would make more sense to me.
I apologize for my rash behavior but do try to post consistent news.
The rest of the project seems very solid to me, I just do not see how minting tokens at 0.1ETH a piece would drive up the price.
Now if people where to buy the tokens at the exchanges for 0.1ETH a piece...
And filling all the sell orders this would make more sense to me.
I apologize for my rash behavior but do try to post consistent news.
The rest of the project seems very solid to me, I just do not see how minting tokens at 0.1ETH a piece would drive up the price.
>Then please refrain from posting confusing stuff in your discord.
I apologize for that, I just keep people tuned about what is happening behind the scene, and I agree sometime it is confusing even for me.
> minted or not.
These tokens are not minted. 20,000,000 tokens are created at the contract creation and owned by the contract.
A maximum of 10,000,000 will be sold at the ICO. What is left stay in the contract and are used to be delivered when the player lose his bet.
Because we deliver 10 time the bet, the price of the token that the player actually paid is 0.1 ether / 10X tokens.
Nobody will pay 0.1 ether per 10X, but the player does, without having the choice, it is just a rule of the game. In another game he would have nothing.
Now his token can be sold in the exchange at the current price of the 10x. If he is not into trading, he will probably keep these tokens and do nothing with them.
But the number of token in circulation has not changed, some tokens have been purchased at xxxx% more than the current trading price, and there is a new token holder who own these tokens and has a good chance to be a pure newbie.
I don't know how this will show up in the exchange, but because tokens change hands at 0.1 ether, and no tokens were minted, it should show up as a buy at 0.1 ether in the buy wall.
I am really curious to see what will be the comments of the traders about that. When they will realize what is happening, it will be very interesting.
In my opinion this system should drive the price of the token up considerably.
If you see something wrong in the business model, I am interested to debate about it.
Well yes, if the player where to buy these tokens from other people on exchanges at 0.1ETH a piece it all makes sense.
But if you just hand over these tokens through a contract (the additional 10,000,000) nobody could sell anything. There are just more tokens now and nobody has managed to sell his tokens.
In this fashion it would even make more sense if you put no number on what people bought the tokens at. They buy the tokens at the lowest price that is asked on all the exchanges. Once they bought up that they will proceed to buy at the next lowest price, ... Since people are greedy by nature they will keep undercutting each other anyway. So you will not have people who are selling it for 999ETH a piece. Becausse somebody would be happy selling it at 998ETH a piece, ... The lowest price that people are willing to sell it is at the price they bought . They people who bought will not get 10 tokens but they will get the tokens they could afford at such a price. It's an infinite pyramid scheme this way. Quite brilliant I would say. It would only fall apart if no more people where playing.
Meanwhile the house makes profits by holding it's 10X tokens and slowly selling them off over a certain period. (Not all at once since that would ruin the concept)
