Hi All,
Without quoting an replying to every post since our last update, a big thank you to all for the positive comments and the criticisms we take all on-board regardless and appreciate your input.
This is just a quick post to answer some questions about Credence Coin.
hope the devs can handle ddos attack and a lot of users who are accessing the site. this should be a prime priority to the devs so that the investors will invest on this coin. great update!
We are doing our best to protect ourselves from attack that is why we will spend 5 to 7 days with an independent team trying to infiltrate the site as a user/non user etc so if we find any leaks we can plug them up before going live.
That does not mean someone will not try and DDoS us, even though we have Cloudfare DDoS protection it does not stop anyone from trying.
But if we do suffer an attack all funds will be safe as the majority of funds both CRDNC and BTC are held in Cold Storage.
Credence team
A question please
That 199 days for the 10k-100k is that right?
or it is 99 days
Cause 199 is way to much in my opinion, for 100k to be blocked
Yes it is 199 days, the whole Premise of Credence Coin is to provide stability and trust and rewards to holders of CRDNC. We could have made it 120 days for the higher loans but which would you prefer? To have your money back in a short space of time without taking into account external factors that could affect the price of the Coin and the knowledge that at that 120 day mark there is also going to be maybe 500 other people looking for capital release on that same day therefore putting pressure on the coin and it's need for dramatic price rises to ensure the stability of the platform?
Or would you prefer to wait a little longer knowing that the coin as it gains more exposure and hopefully therefore more demand that would see a steadily rising price organically and in turn that then provides us with plenty of time to constantly assess the financial status of the whole lending program and put aside your initial loan repayment shortly after you have taken out the loan and our goal is to then lock it into cold storage all loan maturity payments so that we know regardless of market fluctuations and outside influences the majority of lenders funds are safe and ready to be paid out on maturity date and held separate to other site funds.
We know which method we would prefer as investors and that is why we have gone with the 199 days.
Further to that, you have not taken into account that is an extra 79 days of daily interest being paid to you as opposed to 120 days worth of daily interest.
But the choice is entirely yours and that is why we have made staking CRDNC a very viable option @ 20% per year no other lending coin offers this so people have the choice, you do not need to take out a loan to make money with Credence Coin you can simply stake it and as the platform grows organically and builds users so to will the price. It then comes down to a demand vs supply scenario and the supply is already limited, when people take out loans that supply will decrease and as a result that should influence the price.
Or you can choose a combination of the 3 methods, Loan, Stake and earn from Referrals and the natural growth of the coin due to it's limited supply.
Hope that explains to you and others our reasoning behind the loan periods, it has been put in place as both a protection for you and for the the protection of Credence Coin to be sustainable in the long term.
Although the premise of a lot of what we are doing is based on the biggest lending coin of them all, we have analyzed how it operates and taken away what we see as the biggest risk factors involved with it and blended some of its functions with our own version which as mentioned previously we consider to be much more stable for the long term.
Our goal is for Credence Coin to be known as a passive income coin not at HYIP program. High rewards come with high risks and although some of them do work, others crash very early and we do not want that to happen with Credence Coin so that is why it is what it is.
why no one using coinexchange
Good question, many here were screaming for another exchange and somehow equated being on more exchanges to equal instant dramatic price increases. That is clearly not the case as you would all have seen by now.
We also think CRDNC has established a bit of a home on Mercatox though (be it temporary until our exchange is live) and due to many current holders already being signed up with them our guess is many are not bothering to create a 2nd account if they can already buy and sell the same coin on an exchange they have an account with.
As we mentioned in the previous update, we will let you know how the site is progressing either on the 29th or 30th or we may push that to the 31st as if we have no further information we will not post for the sake of it, we will however let you know when the site is fully complete and when Pen-testing has commenced.
Thanks
Credence Coin
