Dump-Proof Coin?

[Braino]

Looking more at Specie (coin info is here: https://bitcointalk.org/index.php?topic=1090724.0), and more closely at what they are doing I realized the following:

- Pure PoS
- Low interest rate
- Set entry price
- Utility/demand

This means the coins that are in existence are pretty much it. Holders can stake but coin creation is pretty slow so the only way for the majority of the coins to be obtained is through purchase. Their market value has been set and buyers are not going to sell below what they paid so this coin effectively has it's bottom set already

Without the problem of miners dropping coins into the demand for coins and affecting their value the coins can be freely traded and/or used for commerce. In the case of Specie they are creating utility for commerce by selling hardware for SPX coins so there is built-in demand

The end result is that Specie is a dump-proof coin.

A dump-proof coin alters the future course of cryptocurrency which makes Specie incredibly important

[1715203669]

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[1715203669]

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[markm]

How many years have those who got it cheap/easy early on had to dump their easy-come coins?

Seems like IXCoin or even I0Coin are probably much better choices as folks have had several years now to dump them if they wanted to, and at much higher prices than they are at lately.

Plus of course pure POS is not good, right? There is a reason why Peercoin had to go with a hybrid POS/POW model...

-MarkM-

[claycoins]

You are wrong about one thing "buyers are not going to sell below what they paid". 

[TaunSew]

You are wrong about one thing "buyers are not going to sell below what they paid". 

Indeed it is an everyday occurrence for two reasons.   One it is better to lose 10%-30%% of your principle than to lose 50% or more.  Second - people who want to gobble up a large percentage of a coin will purposely dump down the price, so they can acquire for cheaper, and sometimes will even borrow to do this (see shorting).


The only time you see prices go up for anything is generally the "Greater Fool Theory", meaning the person who wants a stock or a coin so bad that they'll continuously pay higher prices even though it's not necessarily in their interest to do so

 

[thrax]

You are wrong about one thing "buyers are not going to sell below what they paid".  

Indeed it is an everyday occurrence for two reasons.   One it is better to lose 10%-30%% of your principle than to lose 50% or more.  Second - people who want to gobble up a large percentage of a coin will purposely dump down the price, so they can acquire for cheaper, and sometimes will even borrow to do this (see shorting).


The only time you see prices go up for anything is generally the "Greater Fool Theory", meaning the person who wants a stock or a coin so bad that they'll continuously pay higher prices even though it's not necessarily in their interest to do so

 

There were NXT clone IPOs that people bought into where the coin never made it onto a decent exchange.  Everyone paid a fixed price that nobody would dump below, according to the OP's logic. However, nobody got the chance to dump serious quantities of coins because the IPO coins never got onto an exchange with decent volume. Now the IPO investors are stuck with coins nobody wants.

[Snail2]

I'm affraid there are no such coin. There are some attempts to limit the impact of P&D on the coin value, like price control mechanism planned for eMunie, but that's still in beta as far as I know. 

[NorrisK]

A dump proof coin will never exist, at least not until you don't need to use an alternative coin or fiat ever again.. Until then, people will always dump for their preferred type of currency.

[TibanneCat]

pump and dump is the main reason for new shitcoins popping out pretty much everyday...

[Braino]

Wow what an amazing bunch of responses that completely missed the point of the OP

None of the other coins mentioned in responses are remotely similar to the scenario I have described with Specie (SPX) or are not even talking about the same subject

Does anyone have a response that addresses directly the points I have brought up or do I need to take things to a far more simple description to help with the comprehension challenged readers who frequent (and post to) this forum?

[markm]

Wow what an amazing bunch of responses that completely missed the point of the OP

None of the other coins mentioned in responses are remotely similar to the scenario I have described with Specie (SPX) or are not even talking about the same subject

Does anyone have a response that addresses directly the points I have brought up or do I need to take things to a far more simple description to help with the comprehension challenged readers who frequent (and post to) this forum?

You seem to be the one with comprehension problems.

How do IXCoin and I0Coin fail to address your points, particularly the lack of minting or tiny amount of minting that seems to be your main point?

IXCoin seems better than your example and I0Coin very similar depending on exactly how much minting your coin is actually doing.

Both have had years for anyone who got them "easily" to dump any they want to dump, and for anyone who wants any to acquire them, so they are very well distributed and have been dumped so much it is hard to believe anyone has any left to dump cheap without losing money by doing so.

-MarkM-

[sdmathis]

Wow what an amazing bunch of responses that completely missed the point of the OP

None of the other coins mentioned in responses are remotely similar to the scenario I have described with Specie (SPX) or are not even talking about the same subject

Does anyone have a response that addresses directly the points I have brought up or do I need to take things to a far more simple description to help with the comprehension challenged readers who frequent (and post to) this forum?

Wow. What an asshole. Being an arrogant prick won't help you get any serious responses, but go ahead and dumb it down for us. Don't forget to use small words that we can understand.

[ed_teech]

Whats stops buyers from selling below ? One will sell below and start a panic sell, and buy cheap coins to profit later.

[shanem]

There is no dump proof coin around unless the coin is still at ICO stage.
There will be fluctuation and our job is to look for coins that increases steadily.