I spent some time thinking about what the right price for this coin is. Let’s compare it to Signatum. Like BitcoinStake it is:
1) A pure Proof of Stake Coin
2) A coin launched in the latter half of 2017
There are key differences:
1) Signatum has a more established ecosystem – such as a market place
2) Signatum is more centralized – fewer people own greater concentrations of the coin
3) Signatum generated less excitement – after three days the [ann] for Signatum had 23 pages; we’re at 55
4) Signatum has faced several scandals including strong accusations that the developer instamined
The first difference means that BitcoinStake should be worth less than Signatum. The rest mean that BitcoinStake should be worth more. We can assume that these forces cancel themselves out, and that
Signatum is a fair currency to compare BitcoinStake to.According to Coin Market Cap Signatum is currently worth 662 BTC. But Signatum has been around for 80 days – a lot longer than BitcoinStake. A new coin is more risky than a more established coin, because it’s unclear if the new coin will do well.
So let’s assume that it’ll take 80 days for BitcoinStake to reach Signatum’s value – the market cap increases over time as risk decreases because the community grows, confidence in the coin is built, more content is published in the [Ann], the airdrops spread, etc. If so BitcoinStake’s value progression will look something like this:
By the end of October BitcoinStake should have a market cap between 50 and 60 BTC. With a total supply of 21,000,000 this
implies a price per coin between 220 Satoshis and 310 Satoshis.*
However to maintain this kind of success, BitcoinStake will have to mirror Signatum with
active community involvement and support in developing an economic ecosystem around it.
*Note that 21,000,000 is the maximum coin supply. We haven’t hit it yet. If we'd used a lower supply the price per coin would have been higher, making this a more conservative, underestimate of the value. Note also that this is a high-level estimate, and fluctuations in the price of a coin early-on are normal.
