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Guys, in case you haven't realized it theblond82, Satoshi and Altcointips started hyping the coin before the "secreT" group anouncment went out. Proof?
The blond also had direct access to the memberlist of Altcointips. She send me several "tips" or "commands" of a $kore when it was pumped by Altcointips, telling me to hold or buy and eventually to remove the buy orders just a minute before Altcointips also declared to abandon the coin. I am sure other members of the group will be able to confirm this. Anyone if you have subscribed to Altcointipsgroup and also recieved messages from blond, please come out and tell it.
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That 1.4btc wall @68 looks like a baby whale accumulation wall
I have taken it down (for the biggest part) LXC is the only coin at the moment on Bittrex that is increasing in volume and value so I am sure new investors will start buying today and rest of the week. 10K here we come! Pretty much what I think. |
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>Yes your entitled to 10kg of canndy, but you can only get 3 grams a day. It would take you 30 years or so to get that many, and thats if you go everyday. Most people holding the coins live hundreds of miles away and will most likely be selling them. You dont have to sell your coins on the exchanges. You can sell them to people that live close to the stores on craigslist or ebay. As for the shops they wont sell back untill the price of the coin is atleast 10 dollars or more a coin. A gram of bud is 20 so i see this coin going to around 15 dollars atleast. The people that bought at the low price will be selling around 4 to 5 a coin probably at first. But why would you sell something less than its worth?
3 ngramm a day would be 90 gramm a month would be 1080 gramm a year or $10.000-$20.000 per year per costumer per year. Ten costumer on the first day would cost you a staggering $600 etc. pp. Are you telling me the stores will be selling this amount at a lose? This is completely unrealistic, I am out. Good luck folks.
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Am I the only one here wondering about the economics of this entire thing?
We have an maximum amount of 106,000,000 coins with currently 21873600 coins being mined. With a pegg of 1:1 and an assumed price of $10 a pegg the current coin supply would be worth $2187360000 worth of coins or in other words twohundredsevetysixmillion dollar or in other words more than all other altcoins together. However, the current price of the coinis $0.015 or 1/10000 of the given pegg. Now when people are coming to your business and starting exchanging CANN for candy are you going to sell them the price at a lose? Do you believe the price will rise this extreme until you start exchanging the CANN for candy? How are you planning this to happen with so many people holding and trading with the coin? How are you dealing with vortality?
this is a "classic" question. basic answer is, if you accept them as payment, you dont' sell them at a loss. you hold. this will reduce supply of available coins, increasing price. etc. the market will adapt, and then shop holders can sell them for a useful price. volatility will still be an issue though. liquidity is the term that describes a currencies ability to maintain a constant price while being traded regularly. how it all pans out is yet to be revealed  But most people who have the coin have them aquired through trading and will use them to trade. Currently I am holding meger 10k which isn't even that much but would mean I am entitled to 10kg of candy - with that in mind how could they ever realistically exchange the coins on a 1:1 basis when most of the people got the coin for 1/10000 of the price. If they wanted to use that coin on 1:1 place why did they even sell it on the market place and didn't premine it all and then gave out on this basis? Sorry but the economics behind the coin don't look really thought through. |
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Am I the only one here wondering about the economics of this entire thing?
We have an maximum amount of 106,000,000 coins with currently 21873600 coins being mined. With a pegg of 1:1 and an assumed price of $10 a pegg the current coin supply would be worth $2187360000 worth of coins or in other words twohundredsevetysixmillion dollar or in other words more than all other altcoins together. However, the current price of the coinis $0.015 or 1/10000 of the given pegg. Now when people are coming to your business and starting exchanging CANN for candy are you going to sell them the price at a lose? Do you believe the price will rise this extreme until you start exchanging the CANN for candy? How are you planning this to happen with so many people holding and trading with the coin? How are you dealing with vortality?
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Its cool man. Market determines prices not hopes dreams thoughts or magical wishes. Regardless of who rubs the lamp.
Im a professional trader. Greed blinds people I've seen it a million times.
Real profits over phantom profits for me.
Everyone to their own.
Well i've been able to buy only 20k as i'm currently in really tought life situation and i've lost my job that had really low salary anyway. So i hope that we could skyrocket and that it could help me and my gf move to our own flat... That's why i'm bitching so mutch. And yep i've seen greed blind people alot of times too. If you are in for fast profit you shouldn't invest in cann. No, I believe in this coin and holding some. But there is still a high risk and it will take some time before price go up. Better go daytrading and get small profits on coins like ETHAN or HAL. I'm not in for fast profit even thought i'm hoping i could get some profit in month or two but i'll def. not sell everything, max 1/2 of my holdings if i'll need fiat. I've only described the situation why i get angry quite easy lately. Also i'm not into daytrading. What country are you from? |
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Its cool man. Market determines prices not hopes dreams thoughts or magical wishes. Regardless of who rubs the lamp.
Im a professional trader. Greed blinds people I've seen it a million times.
Real profits over phantom profits for me.
Everyone to their own.
Well i've been able to buy only 20k as i'm currently in really tought life situation and i've lost my job that had really low salary anyway. So i hope that we could skyrocket and that it could help me and my gf move to our own flat... That's why i'm bitching so mutch. And yep i've seen greed blind people alot of times too. If you are in for fast profit you shouldn't invest in cann. No, I believe in this coin and holding some. But there is still a high risk and it will take some time before price go up. Better go daytrading and get small profits on coins like ETHAN or HAL. |
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For VAT purposes Bitcoin and similar cryptocurrencies will be treated as follows below, this in no way reflects on how they are treated for regulatory or other purposes:
1.Income received from Bitcoin mining activities will generally be outside the scope of VAT on the basis that the activity does not constitute an economic activity for VAT purposes because there is an insufficient link between any services provided and any consideration received.
2.Income received by miners for other activities, such as for the provision of services in connection with the verification of specific transactions for which specific charges are made, will be exempt from VAT under Article 135(1)(d) of the EU VAT Directive as falling within the definition of 'transactions, including negotiation, concerning deposit and current accounts, payments, transfers, debts, cheques and other negotiable instruments.'
3. When Bitcoin is exchanged for Sterling or for foreign currencies, such as Euros or Dollars, no VAT will be due on the value of the Bitcoins themselves.
4. Charges (in whatever form) made over and above the value of the Bitcoin for arranging or carrying out any transactions in Bitcoin will be exempt from VAT under Article 135(1)(d) as outlined at 2 above.
For retail/goods/services:
However, in all instances, VAT will be due in the normal way from suppliers of any goods or services sold in exchange for Bitcoin or other similar cryptocurrency. The value of the supply of goods or services on which VAT is due will be the sterling value of the cryptocurrency at the point the transaction takes place
Except that you have to still pay VAT when you go shooping you just can recieve it back when doing your tax declaration and good luck with that keeping all your billings and fighting the tax authorities over that. Oh not to forgot that it only works if you have mined the coin. And have fun with the nightmare if you dared to trade with the coin in the meantime. [ Your comments apply to all crypto currencies. Other crypto currencies don't promote the coin byclaiming youcan escape the VAT. |
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I simply don't buy coins without POD anymore or I use speculate on them without intention on holding them longer than an hour.
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For VAT purposes Bitcoin and similar cryptocurrencies will be treated as follows below, this in no way reflects on how they are treated for regulatory or other purposes:
1.Income received from Bitcoin mining activities will generally be outside the scope of VAT on the basis that the activity does not constitute an economic activity for VAT purposes because there is an insufficient link between any services provided and any consideration received.
2.Income received by miners for other activities, such as for the provision of services in connection with the verification of specific transactions for which specific charges are made, will be exempt from VAT under Article 135(1)(d) of the EU VAT Directive as falling within the definition of 'transactions, including negotiation, concerning deposit and current accounts, payments, transfers, debts, cheques and other negotiable instruments.'
3. When Bitcoin is exchanged for Sterling or for foreign currencies, such as Euros or Dollars, no VAT will be due on the value of the Bitcoins themselves.
4. Charges (in whatever form) made over and above the value of the Bitcoin for arranging or carrying out any transactions in Bitcoin will be exempt from VAT under Article 135(1)(d) as outlined at 2 above.
For retail/goods/services:
However, in all instances, VAT will be due in the normal way from suppliers of any goods or services sold in exchange for Bitcoin or other similar cryptocurrency. The value of the supply of goods or services on which VAT is due will be the sterling value of the cryptocurrency at the point the transaction takes place
Except that you have to still pay VAT when you go shooping you just can recieve it back when doing your tax declaration and good luck with that keeping all your billings and fighting the tax authorities over that. Oh not to forgot that it only works if you have mined the coin. And have fun with the nightmare if you dared to trade with the coin in the meantime. [ |
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Dude don't buy. This coin is dead. Dev left. PR left. Nobody cares for community takeover.
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With statements like that you just successfully banned yourself from ever being adopted by real life merchants ever. Merchants can already escape the VAT via cash yet most don't do this - why? Because the risk of dong so is in no relation to the reward of doing so. No merchant in their right mind would ever accept a coin whose customer would annoy him with the request of "selling them the stuff under the table" especially if accepting the coin would basically guarantee him he instant attention of the tax authorities. VAT cannot be avoided by taking cash unless you are implying that merchants can avoid tax completely by not declaring the transaction (this is illegal). All transactions that a business processes must be declared to the relevant tax authority for their country otherwise the business owner may face jail/prison time (FIAT or Crypto). Merchants have been getting harassed by customers since the FIAT system was born. Customers ask for discounts and expect better treatment if they are paying in cash and not debit/credit/cheques. Most of our merchants however will carry over the saving to the customer giving them an incentive to purchase goods in Sterlingcoin and Bitcoin i.e. 10% off all items. You do realize that if declare the transaction, you'd have to pay VAT on purchases with sterlingcoin too? As you have and do pay VAT if you pay something with bitcoin so I am not sure where you are coming from. Maybe you should try buying something with bitcoin once. Sorry I thought this coin was developed by a grown up not a seventeen year old ideologist and no world or business experience. Best of luck though. |
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Can the dev do a POD? Has anyone seen some of the cod? It feels a bit like usecoin.
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No. Bitcoin has way to much vortality to be used in Argentina. You think 20 % inflation is worse? Try 90 % over the last months. And now it doesn't matter that it went up there before because most people can't sit on their money until "its up" again. $ is king in Argentinia.
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So ....
Noob account.
Big promises.
No POD
IPO.
Sure, this will end well for everyone.
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Sterlingcoin brings about the change needed for the UK & British Isles.
No Banks & No VAT With statements like that you just successfully banned yourself from ever being adopted by real life merchants ever. Merchants can already escape the VAT via cash yet most don't do this - why? Because the risk of dong so is in no relation to the reward of doing so. No merchant in their right mind would ever accept a coin whose customer would annoy him with the request of "selling them the stuff under the table" especially if accepting the coin would basically guarantee him he instant attention of the tax authorities. |
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You know, you could just moderate this thread properly and delete those people.
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IMO we are about 8 months down the line of when the altcoin wave started. Furthermore, no coin has yet really gone all the way to implement real life services that were adopted. Explanations for this are:
1. No suitable and viable real life services have been identified
2. Dev teams have not had enough motivation, commitment and support to see things through for at least 12 months and be willing to wait for the rewards later on.
3. The altcoin market does not care about real life services and just care about the short term profits
In the case of Minerals point 1 is not an issue because the Minerals real life service is viable. Point 3 has been proven over and over again that all coins have to operate in this environment. Point 2 is the problem. As long as a dev team is committed and has the financial support to see things through a coin can be successful. A coin is alive as long as there is a commited and funded dev team as well as the required volumes to keep a listing. At this point the Min community only has what PR said to assess this. It would be good if the dev team can make a first hand announcement one way or the other. IMO it is possible for Min to be successful if the dev team stays committed. If they bail then it means they support point 3 above and Min becomes another real example supporting the following statement:
To make money in alt coins, wait for a new coin, mine the crap out of ot, wait for an exchange listing, dump on the up and then move on to the next coin. Stuff long term, stuff principles, stuff the cause and hope and pray that you are not the bag holder when the music stops.
This statement currently embodies the altcoin market, unless the community changes their attitude and drive force. The Min dev tem has the opportunity to change this, unless they also believe the above statement.
If the statement I made is not changed, i am afraid that the concept of altcoins will die, and possibly the bigger crypto as well.
I don't think this is neccesarily true. There a few coins who slowly making it to be suited for real life use. Blackcoin would be one example. Devs just need to have a longer breath. |
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Sold all my coins. Dev clearly doesn't care anymore. This coin had and has so much promise. Don't understand why the dev dropped it after a fucking month. Usually a business operated for like year on a lose before it makes profits.
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Currently 40€ are buying me 4 kilo of dope. Where can I pick them up?
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