New investors tend to be very price focused so when they see each coin is already $100 they might be hesitant to invest. Many of them have no concept of total market cap and will buy IOTA with a super high marketcap because the coins themselves are super cheap. If it wasn't for that I might back this one and buy $10K to $20K worth but human psychology plays against it because of the stigma of each coin being worth $100. I know, BTC and LTC are at higher prices, but they are BTC and LTC. Nice coin otherwise. Looks suspiciously familiar.
I would suggest doing a 10 for 1 coin split, if possible, and giving all owners 10 coins for every one they hold and increasing the total supply by a factor of 10. You could even go 50 for 1 and be perfectly fine. How many altcoins have been able to make big gains with low coins supplies and high prices? The number is not high.
Where I work people won't buy into the company stock because they say the "price is too high" and they want the company to split the stock first. When I tell them that it doesn't matter what the price is, if they split the stock the number of total shares doubles anyways, their eyes seem to gloss over. Given the amount of "dumb money" investing in cryptos, you have to look at shit like this.
I would have thought that to be a bad strategy. And please feel free to correct me if I'm wrong but essentially, that's printing money and kind of against the ethos of a coin that's released.
Printing money, because you can, tends to make the money worthless. I appreciate what you're say by doubling the wallets of current holders to mitigate that effect somewhat. However to a lot of people, who don't understand, if a coin has gone from $100 to $50 overnight, would you invest in it?
I do hear where you're coming from but it only really benefits holders and probably scares potential investors?
Just my thoughts, and I'm always up for being educated and like learning more. I'm no economist
It's not printing money. It changes nothing. You do a 10 for 1 stock split, the number of shares goes up by 10x while the price goes down to 1/10 the original price. Stock that was trading at 100 dollars does a 10 for 1 split.. stock is now trading at 10 bucks. In the case of bitcoinplus, if you forked the coin in such a way to increase the supply by 50 fold, each coin would be worth 2 dollars instead of 100 dollars. You have more supply, the price is adjusted to compensate, and the marketcap remains the same. Nothing changes except the price per coin and the coin supply. I don't know how practical and easy that would be to accomplish, however. You'd simply give out 49 for each coin that exists in any given address and let the market decide the new value based on bids and asks on the exchange. As long as everyone who already has coins gets their proper number post split, nothing much changes. In fact stocks that announce splits often go up in price after the announcement, because the sheep like the fact the stock will now be more "affordable" for them.
You are much more likely to attract investors with a 2 dollar coin, if you care about being part of the profit mongering that's going on in the space.
I can respect the fact you have a community vote to make decisions like this. Again it's up to you, but I'm here for one reason.. TO MAKE MONEY.. and I pick my altcoins based on that premise alone.. well not entirely.. I actually do look at the tech which is why PASC and XBY hit my radar screen. Anything that is just another smart contract clone coin with something unique about the blockchain that other chains don't have perks me up.
I realize my opinion may not hold much merit (old account locked after the leak), but I have to say I'd agree with looking into a split, perhaps 50:1. Publicly-traded companies have stock splits all the time, even reputable ones such as Apple and Google. See
https://www.investopedia.com/ask/answers/what-stock-split-why-do-stocks-split/. It comes down to psychology; if XCB reaches a point where its market cap is 10% of BTC's, then each XCB coin will be worth more than double a BTC coin, which would IMO be off-putting for users and investors alike.
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