[ANN][STEPS] Let's make a new altcoin environment

[AltcoinSteps]

Marketplace: We value the input of the whole of the "Steps Community", past and present.

Concerns were raised about the verification of users of the marketplace.

We would like to know how community members feel about verification. We added this addition in good faith to protect buyers and sellers.

Concerns were raised about this and it is a difficult issue. One option would be to 'Opt Out' of this request and it is up to the buyer and seller to proceed with an unverified transaction.

We would like feedback from the community regarding this matter?

I haven't followed this coin very closely, but bought a little semi-recently and was curious so checked out the marketplace.

No way would I want to enter my personal info into the site, nor give it to anyone else in cryptoland. I may be in the minority, but think there are too many crazies in this forum.

What I suggest is a simple rating tool, like others have mentioned. I also see no need for personal info at all if a person is selling digital goods.

Thank you for all the suggestions and concerns regarding the marketplace.

We discussed this issue and decided to add and "OPT OUT" function so accounts does not need to be verified.

[1713853469]

1713853469

[thoth-Atlantian]

That's a good Idea, then people who do want to verify will probably get more business.

[AltcoinSteps]

Ahora tenemos un hilo de la moneda española Pasos.

We now have a Spanish translation for all our Spanish investors!

https://bitcointalk.org/index.php?topic=1349049.0

[m3rt1x]

OK.I know it's all about the 'Marketplace' these days but I always like to see things from the pure financial view.
Correct me if I'm wrong but:

The Steps POS Reward System can refund the money you invest in Steps by the end of the HiPoS phase. i.e. you invest 300$,you get back 300$ by the end of HiPoS.Because:

(Today 05/02/2016 15:30 +2GMT Steps approx price is 1050 satoshi and BTC price is 391.2$)

75000 coins = 0.7875BTC = 306.29$

75000 coins will get an average of 3 stakes per day after almost 1 week.

The average reward is 245coins per day (as we will enter 180 in a day and the highest will be 300)so,

245*3= 735 coins per day *1050sat = 0,0077175BTC = 3$ per day

The reward system upgrades every 8 days and there are 13 levels to go so, 8*13=104 days to go.

104 days* 3$= 312 $

So,at the end of HiPoS the return of our investment would be 312$,which is above the 306$ that we initially invested.

And we would also have our 75000 coins to have them staking for 1% annually or do whatever we want with them.

I have not taken into account that the Steps's price might and WILL go up because of the insterest for the reward system.

All you have to do is buy your coins and put them in a staking wallet!

P.S. In case you wonder,I have 4 wallets.My best staking wallet,is 3 weeks old and I sent the coins in sets of 1000!


 

[simtho]

Thanks m3rt1x for this nice calculation.
I like this coin and the PoS rewards!
I have also a good staking wallet which is a few weeks old and I get a daily reward of approx. 0.025 to 0.04 BTC ;-)
And this will even increase every 8 days when we move to the next reward level ;-)

[skish85]

OK.I know it's all about the 'Marketplace' these days but I always like to see things from the pure financial view.
Correct me if I'm wrong but:

The Steps POS Reward System can refund the money you invest in Steps by the end of the HiPoS phase. i.e. you invest 300$,you get back 300$ by the end of HiPoS.Because:

(Today 05/02/2016 15:30 +2GMT Steps approx price is 1050 satoshi and BTC price is 391.2$)

75000 coins = 0.7875BTC = 306.29$

75000 coins will get an average of 3 stakes per day after almost 1 week.

The average reward is 245coins per day (as we will enter 180 in a day and the highest will be 300)so,

245*3= 735 coins per day *1050sat = 0,0077175BTC = 3$ per day

The reward system upgrades every 8 days and there are 13 levels to go so, 8*13=104 days to go.

104 days* 3$= 312 $

So,at the end of HiPoS the return of our investment would be 312$,which is above the 306$ that we initially invested.

And we would also have our 75000 coins to have them staking for 1% annually or do whatever we want with them.

I have not taken into account that the Steps's price might and WILL go up because of the insterest for the reward system.

All you have to do is buy your coins and put them in a staking wallet!

P.S. In case you wonder,I have 4 wallets.My best staking wallet,is 3 weeks old and I sent the coins in sets of 1000!


 

WOW, great calculation!  Thanks!

[poornamelessme]

So,at the end of HiPoS the return of our investment would be 312$,which is above the 306$ that we initially invested.

And we would also have our 75000 coins to have them staking for 1% annually or do whatever we want with them.


 

The flaw in that thinking is discounting human nature. If everyone does that, they'll create too much sell pressure to regain their initial investment, therefore lowering the price of the coin.

Of course not everyone will stake and other things could occur to increase the price of the coin. But it does have a pyramid feel to it ... basically whomever sells their coins early (after HiPos) will get their initial investment back, but if everyone tries to sell, it'll be too much selling pressure and not enough volume/buy support to pay them all.

So yeah, in theory your model could work... for some.

[m3rt1x]

So,at the end of HiPoS the return of our investment would be 312$,which is above the 306$ that we initially invested.

And we would also have our 75000 coins to have them staking for 1% annually or do whatever we want with them.


 

The flaw in that thinking is discounting human nature. If everyone does that, they'll create too much sell pressure to regain their initial investment, therefore lowering the price of the coin.

Of course not everyone will stake and other things could occur to increase the price of the coin. But it does have a pyramid feel to it ... basically whomever sells their coins early (after HiPos) will get their initial investment back, but if everyone tries to sell, it'll be too much selling pressure and not enough volume/buy support to pay them all.

So yeah, in theory your model could work... for some.

'regain their initial investment'.You mean the people who once had coins but have sold them all or some of them?If they try to regain them,they will create buy pressure,not sell pressure,unless I miss something.If they create buy pressure,I think price will rise.If they still have coins,the worst thing they can do is dump,losing the big rewards.Even if they dump,price will go low a bit,but the untouched wallets with big weight will stake like beasts.I remember when AltCoinSteps started sending the coins back to the users from cloud stake.I was getting 3x the stakes for 3 days.
Anyway,this is crypto,and nothing is for certain,as everything else in this world.

[poornamelessme]

'regain their initial investment'.You mean the people who once had coins but have sold them all or some of them?

I mean obtain the btc which was their initial investment in Steps to begin with. Which was sort of the point of your post ... calculating how the rewards would be equal or greater than the amount of btc initially paid to obtain Steps.

Just saying if everyone planned to sell their stake rewards, you'd run into a pyramid situation, where those first to sell would probably get the current price, but eventually it'd cause the price to go down or it'd be not enough volume to support those selling.

[m3rt1x]

'regain their initial investment'.You mean the people who once had coins but have sold them all or some of them?

I mean obtain the btc which was their initial investment in Steps to begin with. Which was sort of the point of your post ... calculating how the rewards would be equal or greater than the amount of btc initially paid to obtain Steps.

Just saying if everyone planned to sell their stake rewards, you'd run into a pyramid situation, where those first to sell would probably get the current price, but eventually it'd cause the price to go down or it'd be not enough volume to support those selling.

Now I understand that you meant gaining back their BTC.
Well,I'm not sure what you mean by 'pyramid situation'.
The price could be affected dramatically if everyone sells at the same time and price has not risen in the next months.
Fortunately there are things you can do with Steps,like buy things,services or even sports betting so the coin will not just be another useless high POS coin.And I think we have seen just about enough of them over the last 2 months.

[poornamelessme]

Now I understand that you meant gaining back their BTC.
Well,I'm not sure what you mean by 'pyramid situation'.
The price could be affected dramatically if everyone sells at the same time and price has not risen in the next months.
Fortunately there are things you can do with Steps,like buy things,services or even sports betting so the coin will not just be another useless high POS coin.And I think we have seen just about enough of them over the last 2 months.

Of course the price could rise, other features could be added to the coin, and so on.

Just saying that your model has a flaw (if anyone was reading it expecting to automatically cash out at their initial investment and still keep all of their coins). Sure, it's possible it could work. The flaw is if too many people think that way, the current price won't remain where it is, it'd go down. Or there simply wouldn't be enough volume to support those selling.

As for what to do with Steps... I mean, if we are all honest here, I expect like 95%+ of the people investing expect to just make a profit with it. That's not a knock on Steps, it's true for pretty much all cryptos.

[Fire Rabbit]

I feel that the real value increase of this coin will depend solely on the success of the marketplace. Just like Bitcoin finding it's early adoption with The Silk Road and sites like it, along with online gambling and a few other things. These were some of the early markets that allowed BTC to grow into a multi billion dollar market cap.

   

[ozboy2014]

Network Weight is 80millions?!

[Fire Rabbit]

We have just passed block 34,100 and have entered the 180 reward step. The network weight is well over 100 million now! Steps future is looking very bright! 

Is there anyway the AltcoinSteps team can make a StaySafe wallet for MaryJaneCoin?

[ozboy2014]

Be good to register using wallet address instead of email https://altcoinsteps.com/account/signup with inwallet messaging as form of communication

[thoth-Atlantian]

I dont get the staking on this coin.
I have 70k in a wallet (added over the course of 2 days) Now all been in wallet for 5 days and I have staked twice. (not even daily). But I can see on the blockchain that someone with 95k coins is getting 3-5 stakes daily. 

What's the go ?
 

[ozboy2014]

I dont get the staking on this coin.
I have 70k in a wallet (added over the course of 2 days) Now all been in wallet for 5 days and I have staked twice. (not even daily). But I can see on the blockchain that someone with 95k coins is getting 3-5 stakes daily. 

What's the go ?
 

Split your coins

[Frogman]

whats going on with the marketplace?

[Master_dandosha]

why it is so difficult to sell a digital product in https://altcoinsteps.com/staySafe
i create account same as here . tried to sell some Digital products like torrent invites or account also VPN can't do that
any suggestion
thanks

[AltcoinSteps]

why it is so difficult to sell a digital product in https://altcoinsteps.com/staySafe
i create account same as here . tried to sell some Digital products like torrent invites or account also VPN can't do that
any suggestion
thanks

the sell page is https://altcoinsteps.com/account/sell
we will add the non-verified trader button today so will be able to add your digital items on sell