Ok, no real answer to my economic concerns from the team. Now I'm really regreting that I have supported this scammer team who doesn't give a fuck about their investors... I'm gonna explain the economic consencuences for the ones who still dont understand and believe this coin is gonna make x100.
First, stop dreaming.
Second, make some maths
18th March = 610,000 DBIX
18th May = 1,043,000 DBIX
18th July = 1,476,000 DBIX
18th Sept= 1,910,000 DBIX
Can you see that every month there will be a lot of new coins created? Please read something about supply and demand laws... It's gonna be a bloodbath...
We replied to your queries twice via PM, we just want to make it clear.
We also posted the below on this thread:
We have been asked via PM and we can see some concerns about the supply schedule for DBIX.
As the supply increases with any currency the percentage of holdings against the total supply will naturally decrease. The dollar value of DBIC and DBIX at the swap are the same and thus no loss of value is there. The reduction of percentages while keeping the value is a necessary move to grow and attract new investments which will positively impact prices over time.
The supply at 2.6m per year over the dagger hashimoto algorithm is considered relatively low supply and as ArabianChain attracts more miners it will only increase the competition for blocks which will increase prices over time as well. We believe the Etherum miners will consider ArabianChain as an attractive alternative prior and after Ethereum's move to POS.
This is for the best, to make ArabianChain worthwhile to many other users and developers to join our ecosystem. It is a free market out there and you have the choice to stay with us and support ArabianChain or take other measures. It is entirely up to you. We believe our decisions to be the best way forward for our project.
We stand by that and we do believe that DBIC wasn't as good a proposition going forward as much as DBIX is, including the features it will incorporate + smart contracts.
We don't even want to start going through the poor, provocative and offensive language used to address concerns in big red letters.
We have seen attempts to discredit a project in the past, and this is very closely resembling one of them.
We do listen to and address concerns, as mentioned you have the option to stay with us or make other arrangements.
The worst part is not that they dont understand those basic concepts of economy, which is sad. The worst part is they dont give a fuck about the investors neither the community... Do you think any serious investor, hedge fund or goverment, is that stupid to dont research which team is behind the coin and what is the history of it? Do you think anyone will trust this guys?
Thanks for sharing your opinion here, everyone can judge for themselves when they see it.
We do care about our community and supporters very much, it is one of the reasons why we went on to build an improved, more powerful and way more functional blockchain.
The blockchain and fintech ecosystems have advanced considerably in the last couple of years, smart contracts are in demand now, when we started with DBIC things were not as competitive.
By evolving into a better solution and with the middle east market being ripe for blockchain adoption this is the best strategy for ArabianChain to be relevant and find its place.
However you doubting team members who have their own names and reputations at stake shows you are merely trying to incite discord.
Another point, Yobit and probably C-cex and cryptopia too, will keep DBIC listed.
Which means the swap is not the only way forward. We can choose between DBIC or DBIX.
This is another assumption of yours. We can confirm that if you don't swap your DBIC to DBIX while the swap is on you won't have another chance.
The swap window is open for a while and you are free to keep your DBIC, however the old network and coin won't be maintained any longer.
Devs are promising a lot of stuff, but if they are doing this sitty swap is because they dont have any DBIC.
They have see they can get a work and a position in the blockchain revolution by stealing our money and DBIC and that is deplorable.
The dollar value of DBIC and DBIX at the swap are the same and thus no loss of value is there.
Again, you are trying to impose your own agenda on everyone, with "deplorable" techniques.
We dont even know if the people they say they are working, they really are, because none of them as anything about DBIX in their profile.
I've just contacted DIMA MALIBARY & ABDULRAHMAN ALHARTHI throught Linkedin, and I'm gonna wait to see their answer.
Big investors (and the small ones too) should make their own research. This is not kids play. This is serious money. And this swap looks like a joke...
We need someone with real motivation to take care of this project. And not some people who only care about theirself.
We are hard at work to make sure the swap is a success supported by a stable network, an updated explorer, a wallet and mining to start with.
Contrary to what's stated above we have a lot of supporters looking forward to the swap and beyond.
We also do encourage everyone to make their own educated judgement when reading posts from users on this thread as well as when making financial decisions.
We cannot promise that DBIX will go to the moon, it is not our intention, what we can guarantee is that we will put the highly valuable skills of our team members to good work.
Stay tuned.
