[ANN][SNC] SunContract - Open Energy Market FIRST P2P ENERGY TRADING IS LIVE!!!!

[dantonio]

Hey guys, Hitbtc exchange its trading SNC ico, you can buy SNC at low price 

[Gregor]

Hey guys, Hitbtc exchange its trading SNC ico, you can buy SNC at low price 

It's trading at x2 of the ICO price, which is great!

[Gregor]

With 1 billion coins, it's gonna be hard to make good profits from this coin.
 
Any particular reason for such high supply?

The project is very interesting nonetheless and I am in.

The total supply has no correlation with the possible profit.  There are lots of coins that prove that.  The amount of investments is.  e.g. if you invested 1eth and there were 100000eth invested, in the case of huge succes your profit will be less than when just 1000eth were invested.  

We need a 1 billion marketcap for the coin to reach $1. I don't think this is very easy to achieve. Beyond $1 involves a 1B+ marketcap, something very hard to believe in the near future.

There are only 7 coins with over 1B marketcap, 8 if we count IOTA (keeps switching below and over).

So?  Why the 'magic' $1?  Do you realize 1 ETH gets you 11500SNT?  1ETH is now approx. $280 which means 1 SNT in ICO is $0,02 (your two cents lol).  This means in order to get to $1 you need x50 prices.  

Let's say the supply was 100000000.  Then you would have gotten 1150SNT/ETH which is exactly the same thing.  SUPPLY DOESN'T MATTER.  It's basic maths...

edit: supply does matter when you have a huge amount of coins for example 420 billion.  When you have so much coins it's hard to get the price over 1 sats, then you have a problem.  Supply is also a problem when the stake/premine of the devs is too big

Thanks for your insight.

The larger the coin supply is, the more time to reach a high profit. Your example of 100M supply with the same price is actually very different than 1B. With the same demand and the same enthusiasm from the community and investors, you will easily achieve a large profit with a 100M coin. Can't say the same for 1B, it's just too much.

11500 SNT with a 100M cap is very different from 11500 SNT with a 1B cap.

$1 isn't a magical number, it's just an example.

Product, idea, platform, awesome team...it could reach 2$ not just one  

What's the price per token now? I believe they are going to give dividends on the profit they make while selling electricity, or do they are going to do a buyback and burn kinda thing?

The current ICO ratio: 1 ETH = 11500 SNC. Buyback & burn is our strategy. It's more convenient and efficient than dividends (it's also more tax efficient).

[SunContract]

As per below your website indicates a roadmap which directly correlates to the amount of ETH collected. It seems highly unlikely that you will reach your goal of 100K ETH... If let's say only 10K ETH is collected does that mean that goals 4,5,6,7 as per your roadmap will not be achieved and implemented due to the lack of funds?


0 – 5K ETH
1 - P2P Trading Platform

5K – 10K ETH
2 - Implementing the P2P Platform on a national level

10K – 25K ETH
3 - Commercializing the P2P Platform on an international level

25K – 40K ETH
4 - Flexibility market and demand response services

40K – 60K ETH
5 - Increasing the trading volume of P2P Platform with renewables and energy storage

60K – 70K ETH
6 - Increasing the market share, acqusitions and expansions

70K – 100K ETH
7 - Further grid services development

Hi,

this is our initial plan. If we raise less then 5,000ETH then development will go slower (and of course revenue will increase more steadily) but we will keep developing it with collected fees. So we will probably develop (almost) full product but will take much more time if we do not raise more funds. Do not worry, our true marketing starts just now. We showed community with start of the ICO that we are sirious.

With 1 billion coins, it's gonna be hard to make good profits from this coin.
 
Any particular reason for such high supply?

The project is very interesting nonetheless and I am in.

Energy market is worth many trillions of dollars so if we raise enough for 1 billion of SNC and SNC will be 1$ worth then this is only small valuation. So this is actually nothing.

Hi,
If I understand correctly Consumers of electricity will still have to pay tax to company that owns the grid. What are benefits of this pool of producesrs and consumers. If I own sun power plant how Will I be able to connect to that pool. If I own an electric car or powerwall Will I be able to use it as a grid balancer. When it is sunny I charge it from the grid and when it is cloudy or night I sell the electricity stored in it. If one day all electricity is going to be produced by alternative energy sources some kind of grid balancerrs will be needed because wind doesn't always blow and sun is not always shining. I need more information. I think the idea is good but the whitepaper is just not detailed enough for me. I invested 4 ETH in ICO, I think your project is great.

Kind regards from Slovenia

Hi,
main benefit will be lower costs we will have because of blockchain. We will also have lower margins then retailers.

With time we will add new functionalities so eventually also your car could become balancer.

Solar and wind power will not be the only energy sources in the pool. We will use different resources too balance energy needs.

Regards back to you from Ljubljana

In my opinion, the government of many countries control this industry since it is very important to the safe of a country, how to overcome this problem in your project?  

EU is liberalised so we already have many countries covered with reasonable legislation.

With 1 billion coins, it's gonna be hard to make good profits from this coin.
 
Any particular reason for such high supply?

The project is very interesting nonetheless and I am in.

The total supply has no correlation with the possible profit.  There are lots of coins that prove that.  The amount of investments is.  e.g. if you invested 1eth and there were 100000eth invested, in the case of huge succes your profit will be less than when just 1000eth were invested.  

We need a 1 billion marketcap for the coin to reach $1. I don't think this is very easy to achieve. Beyond $1 involves a 1B+ marketcap, something very hard to believe in the near future.

There are only 7 coins with over 1B marketcap, 8 if we count IOTA (keeps switching below and over).

Keep in mind how big actually is energy market. And we will make our project easy to use so non-crypto people wouldnt even know we are using blockchain

[rgornik]

Ok so now just think of it. SunContract could have billions in yearly or even monthly traffic on their platform when they hit major markets in EU. And if they have small % fee to those transactions their profit could still be millions of $$. And then with buybacks this is pure win-win. It is trillion market and if they get only .1% of that market this is still huuuge for us.

People this is NO BRAINER 

[huanglui]

Ok so now just think of it. SunContract could have billions in yearly or even monthly traffic on their platform when they hit major markets in EU. And if they have small % fee to those transactions their profit could still be millions of $$. And then with buybacks this is pure win-win. It is trillion market and if they get only .1% of that market this is still huuuge for us.

People this is NO BRAINER 


i just bought for 8 eth more SNC! This will be huge!

[Master mind]

Any news ?

[domegabri]

There is no information on the whitepaper regarding the characteristics of the P2P platform you want to build. How you will take care of market clearing? And will you involve the Transmission System Operator in the definition of production schedule? I suppose you know that you cannot use the grid as it pleases you.

[domegabri]

Lol, you guys who are posting only because you have their sig and want to protect your investment in it are crazy. I am not going to address anything anymore.

I don't mind how much you guys invest and lose,I was just putting the word out.

There are a lot of inaccuracies in your post. First of all, in a liberalized energy market, there would certainly be nothing illegal for offering a decentralised energy grid service. Secondly, you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency, micropayments allowing real-time pay-as-you-consume bills, and full transparency on the rates offered by producers. Make no mistake - this is one of the most ambitious projects in crypto, and these guys are on the right track to achieve it.

There a lot of inaccuracy in your answer too, sir.
First of all you say:
"you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency "

Do you have any proof of what you are claiming?

"there would certainly be nothing illegal for offering a decentralised energy grid service"

Decentralised grid service is fantasy. The electric grid is controlled by a government owned company for many reason. First of all, the producers cannot use the grid as a toy. There are technical constraints to be satisfied to avoid blackouts and grid faults. This is why in the liberalized electricity market right now, the production schedule resulting from the pool has to be approved by the Transmission System Operator ( the company that controls the grid ) to make sure that the grid is not overloaded and operated safely. Secondly, in economics, the electric grid is known as a natural monopoly. It means that the cost structure of building and maintaining the electric grid is such that it tends to market concentration, because of high sunk costs and economies of scale. So the government has to regulate this monopoly to avoid one private company to make huge profits from it. The electricity grid infrastructure and decentralization are two different universes.


"micropayments allowing real-time pay-as-you-consume bills "

Is not clear how the market clearing mechanism will work. The whitepaper does not specify anything. Real time payments for energy imply a mechanism to determine electricity prices instantaneously while keeping the grid operation safe.

[royalfestus]

I think the campaign has been on for a while now, why are people just seeing all these their faults?

[Master mind]

Lol, you guys who are posting only because you have their sig and want to protect your investment in it are crazy. I am not going to address anything anymore.

I don't mind how much you guys invest and lose,I was just putting the word out.

There are a lot of inaccuracies in your post. First of all, in a liberalized energy market, there would certainly be nothing illegal for offering a decentralised energy grid service. Secondly, you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency, micropayments allowing real-time pay-as-you-consume bills, and full transparency on the rates offered by producers. Make no mistake - this is one of the most ambitious projects in crypto, and these guys are on the right track to achieve it.

There a lot of inaccuracy in your answer too, sir.
First of all you say:
"you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency "

Do you have any proof of what you are claiming?

"there would certainly be nothing illegal for offering a decentralised energy grid service"

Decentralised grid service is fantasy. The electric grid is controlled by a government owned company for many reason. First of all, the producers cannot use the grid as a toy. There are technical constraints to be satisfied to avoid blackouts and grid faults. This is why in the liberalized electricity market right now, the production schedule resulting from the pool has to be approved by the Transmission System Operator ( the company that controls the grid ) to make sure that the grid is not overloaded and operated safely. Secondly, in economics, the electric grid is known as a natural monopoly. It means that the cost structure of building and maintaining the electric grid is such that it tends to market concentration, because of high sunk costs and economies of scale. So the government has to regulate this monopoly to avoid one private company to make huge profits from it. The electricity grid infrastructure and decentralization are two different universes.


"micropayments allowing real-time pay-as-you-consume bills "

Is not clear how the market clearing mechanism will work. The whitepaper does not specify anything. Real time payments for energy imply a mechanism to determine electricity prices instantaneously while keeping the grid operation safe.

Thank you for caring.

But I listened the same thing when the BTC was on start and Laszlo buy pizza with 10k coins.

You can read first what is new on the horizont:
https://np.reddit.com/r/Futurology/comments/6jrwyx/brooklyns_latest_craze_making_your_own_electric/

Ps : you don't need new shill account for fear, uncertainty and doubt.

Just my ten cents.

[xgast]

When ICO finish, when will SNC distributed & exchange available?

[Master mind]

When ICO finish, when will SNC distributed & exchange available?

ICO finish on 25th  July .
One exchange is already available .

[SunContract]

Any news ?

You can read about us in today's Cryptocoinsnews: https://www.cryptocoinsnews.com/suncontract-token-sale-decentralized-energy-market/

There is no information on the whitepaper regarding the characteristics of the P2P platform you want to build. How you will take care of market clearing? And will you involve the Transmission System Operator in the definition of production schedule? I suppose you know that you cannot use the grid as it pleases you.

We will work with grid operators and all other established entities in energy market. We will act as a retailer but will offer direct Peer 2 Peer service on our platform where everybody would be able to offer its production.

When ICO finish, when will SNC distributed & exchange available?

We will try to get our token on big exchanges right after the end of ICO. We are already in talks with several of them and have people in our team that have connections

[someguy7]

Hey guys, Hitbtc exchange its trading SNC ico, you can buy SNC at low price  

It's trading at x2 of the ICO price, which is great!

Can someone please explain me why someone would want to buy SNC for more than twice the price on an exchange while the ICO is still running and he could buy it from the ICO as well, cheaper?  

[domegabri]

There is no information on the whitepaper regarding the characteristics of the P2P platform you want to build. How you will take care of market clearing? And will you involve the Transmission System Operator in the definition of production schedule? I suppose you know that you cannot use the grid as it pleases you.

We will work with grid operators and all other established entities in energy market. We will act as a retailer but will offer direct Peer 2 Peer service on our platform where everybody would be able to offer its production.

So you are just a retailer like the ones already present in the market but the main difference is that you will use blockchain to charge your clients?

[domegabri]

Lol, you guys who are posting only because you have their sig and want to protect your investment in it are crazy. I am not going to address anything anymore.

I don't mind how much you guys invest and lose,I was just putting the word out.

There are a lot of inaccuracies in your post. First of all, in a liberalized energy market, there would certainly be nothing illegal for offering a decentralised energy grid service. Secondly, you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency, micropayments allowing real-time pay-as-you-consume bills, and full transparency on the rates offered by producers. Make no mistake - this is one of the most ambitious projects in crypto, and these guys are on the right track to achieve it.

There a lot of inaccuracy in your answer too, sir.
First of all you say:
"you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency "

Do you have any proof of what you are claiming?

"there would certainly be nothing illegal for offering a decentralised energy grid service"

Decentralised grid service is fantasy. The electric grid is controlled by a government owned company for many reason. First of all, the producers cannot use the grid as a toy. There are technical constraints to be satisfied to avoid blackouts and grid faults. This is why in the liberalized electricity market right now, the production schedule resulting from the pool has to be approved by the Transmission System Operator ( the company that controls the grid ) to make sure that the grid is not overloaded and operated safely. Secondly, in economics, the electric grid is known as a natural monopoly. It means that the cost structure of building and maintaining the electric grid is such that it tends to market concentration, because of high sunk costs and economies of scale. So the government has to regulate this monopoly to avoid one private company to make huge profits from it. The electricity grid infrastructure and decentralization are two different universes.


"micropayments allowing real-time pay-as-you-consume bills "

Is not clear how the market clearing mechanism will work. The whitepaper does not specify anything. Real time payments for energy imply a mechanism to determine electricity prices instantaneously while keeping the grid operation safe.

Thank you for caring.

But I listened the same thing when the BTC was on start and Laszlo buy pizza with 10k coins.

You can read first what is new on the horizont:
https://np.reddit.com/r/Futurology/comments/6jrwyx/brooklyns_latest_craze_making_your_own_electric/

Ps : you don't need new shill account for fear, uncertainty and doubt.

Just my ten cents.

The project you are referring to is a microgrid. Do you know what micro means? It's a very small scale project between neighbours in a street. It is a local project, not an international trading platform as these people are claiming. There is huge difference. Study more before putting your money into projects.

[thehun]

Hey guys, Hitbtc exchange its trading SNC ico, you can buy SNC at low price  

It's trading at x2 of the ICO price, which is great!

Can someone please explain me why someone would want to buy SNC for more than twice the price on an exchange while the ICO is still running and he could buy it from the ICO as well, cheaper?  

It's just proves how HitBTC markets are 100% manipulated. I can't grasp how anyone can make business with these people.

[Master mind]

Lol, you guys who are posting only because you have their sig and want to protect your investment in it are crazy. I am not going to address anything anymore.

I don't mind how much you guys invest and lose,I was just putting the word out.

There are a lot of inaccuracies in your post. First of all, in a liberalized energy market, there would certainly be nothing illegal for offering a decentralised energy grid service. Secondly, you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency, micropayments allowing real-time pay-as-you-consume bills, and full transparency on the rates offered by producers. Make no mistake - this is one of the most ambitious projects in crypto, and these guys are on the right track to achieve it.

There a lot of inaccuracy in your answer too, sir.
First of all you say:
"you are missing the benefits which a blockchain energy pool would present. Lower costs, better efficiency "

Do you have any proof of what you are claiming?

"there would certainly be nothing illegal for offering a decentralised energy grid service"

Decentralised grid service is fantasy. The electric grid is controlled by a government owned company for many reason. First of all, the producers cannot use the grid as a toy. There are technical constraints to be satisfied to avoid blackouts and grid faults. This is why in the liberalized electricity market right now, the production schedule resulting from the pool has to be approved by the Transmission System Operator ( the company that controls the grid ) to make sure that the grid is not overloaded and operated safely. Secondly, in economics, the electric grid is known as a natural monopoly. It means that the cost structure of building and maintaining the electric grid is such that it tends to market concentration, because of high sunk costs and economies of scale. So the government has to regulate this monopoly to avoid one private company to make huge profits from it. The electricity grid infrastructure and decentralization are two different universes.


"micropayments allowing real-time pay-as-you-consume bills "

Is not clear how the market clearing mechanism will work. The whitepaper does not specify anything. Real time payments for energy imply a mechanism to determine electricity prices instantaneously while keeping the grid operation safe.

Thank you for caring.

But I listened the same thing when the BTC was on start and Laszlo buy pizza with 10k coins.

You can read first what is new on the horizont:
https://np.reddit.com/r/Futurology/comments/6jrwyx/brooklyns_latest_craze_making_your_own_electric/

Ps : you don't need new shill account for fear, uncertainty and doubt.

Just my ten cents.

The project you are referring to is a microgrid. Do you know what micro means? It's a very small scale project between neighbours in a street. It is a local project, not an international trading platform as these people are claiming. There is huge difference. Study more before putting your money into projects.

This is one example how can be decentralised electricity and only from small thing can grow big like BTC and ETH project did.

Just my ten cents

[erpbridge]

Here is a post I made on another similar project. Decentralization on the grid will never work for the following reason. Some of the facts could be beyond the scope for the project, but most of them apply.

Do Not Risk a Penny on this

Here is why:
1. This is not a new idea. I work for a utility company and we have been investing billions in microgrid projects. This is exactly what it is. You create a local community / local grid, where people can support each others energy demands. The only exception here is that they are creating a decentralized buying/selling system.

BUT utility companies are never going to allow this, because it does not pay to maintain the traditional grid infrastructure.

There are already laws in place for exactly this reason, that people cannot sell their electricity to other people directly.

What this company, and other similar companies like trans active grid are doing is creating a token to make that sell-buy to get around that law(which states money isn't to be used).

Here is what will happen after. Governments will realize people are trying a way around and will BAN any asset trading that would lead to violating that law. All the money invested in these companies  and their platforms will collapse.

Utility companies in the near future will be launching microgrid systems.

2. Volatility in the Token Market:  The token that the company is selling again is not real money. They will be used in the platform they are launching, which means people will be buying and selling it ultimately leading to a market for that token on an exchange.

So if I am a person in a small society looking to participate in a decentralized energy production and buying platform, I would firstly have to buy these tokens, and then sell it to meet my real life demands.

But this  token will be traded on an exchange, the price will be volatile just like bitcoin and hence a normal person would simply not be interested in such a technology due to the price variation in the tokens. Because that could mean losing money by selling to the platform as theilr sole incentive was to be informed on who they are selling to, and getting slightly higher price than selling to utility companies.

 3. No Need for Decentralization on grid : Governments around the world buy electricity on smart grids at competitive prices. There is really no need for decentralization of grids except in third world countries where there are problems such as energy shortage etc. because utility companies have a monopoly and benefit by power outages.

But I predict that as smart grids evolve, companies like Tesla will take care of the buying/selling platform by offering something like Uber. But again that requires privatization of the grid.

And all the subsidies and incentives government provides are only to those selling and buying from the grid. They won't offer it for a private microgrid.

4. Smart Meters:
Utility companies have started providing free smart meters to its customers. What this company intends to do is use the blockchain for accounting of the electricity produced and used. But it will require customers to install separate meters which would cost a lot. Things will go wrong, and will need to be fixed.


5. Storage: Storage is currently a big issue for solar. Installing a solar system is expensive, but installing a storage system/batteries is even more expensive. Hence most of the houses that buy solar, usually do it as to only satisfy 60-70% of their electricity needs. A lot of those houses usually do not generate an excess. This means what this entire project is relying upon i.e community buying and selling is not going to be a big thing in a neighborhood. 

What I am trying to say is , that blockchain and grids is a great combination. But utility companies have already started doing and investing in it. In general there is no reason for one resident of an area to see the production/consumption of another, which means that there is no need for a decentralized electric grid system. People have meters in their home and all the data relevant to them is already transparent.

All these companies are doing great work, but I don't think a Token sale is the way to go because once the token is on an exchange, it will kill the motivation of the local resident to even participate in that purchase/sale.  What these companies need to do is find investors for a direct investment than creating an altcoin to just get more money, which I feel is the scammy part.

This project seems to be more stupid than i initially thought. A platform. Seriously ?

No one is going to be using a platform like this for another 10 years. Token will likely not be listed on an exchange, and even if it does it will go through an instant Dump.


and




Really ?

What are you going to do ? be like we didn't raise funds so here is a 1000$ platform and we are out because we didn't hit our goal and this is all we promised for the million we raised.

No way this token will even hit an exchange.