[ANN][DGC][FBD] Free Bank of Digitalcoin ~ Risk Averse DGC Investments

[HuuHachu]

Ok. The business ideea behind it, ass i see it is:
1. You buy lots of coins (no matter the name) at the actual price.
2. You create the "bank" as described in the thread.
3. You sell the coins a little higher, the people will buy anyway because it's no risk for them, they always can sell at the same price anyway.
Now the two cases:
 a. Price increase: people will cash out the coins to seel them on the market and the bank remain with the profit.
 b. Price decrease: people will sell back to the bank, and the banck charges fees and remain with the profit.

Once again great business ideea, but no really benefit for the coin.

Oh, not incompatible with what I said, but it is a one-time business then.
After the capital has been sold, you cannot continue your operation.

And if you expect to buy back the coin (probably at higher price) and start again ... well ... this would become a bigger and bigger bubble. It would surely pop at some point ^^

[jonsi]

"It does have the benefits of bringing liquidity to the coin and offering multiple means of entry. The addition of purchase by USD and LTC are significant in their own rights."


That liquidity will never bee use, because the bank will keep it, not spend it... so it doesn't bring anything

And for the part with the long therm investment... it's even worst... The coins will sit in accounts and not beying use at all... because when you widrawn the coins you will lose that "no risk" that attracted you in the firs place.

Now I can understand that baritus want to prove his ideea as something benefic for the coin and will not look at my arguments, but in fact i speak for the others that are looking into that and can follow my logic.

Once again: This is my personal point of view, don't take this a advice!

[jonsi]

Ok. The business ideea behind it, ass i see it is:
1. You buy lots of coins (no matter the name) at the actual price.
2. You create the "bank" as described in the thread.
3. You sell the coins a little higher, the people will buy anyway because it's no risk for them, they always can sell at the same price anyway.
Now the two cases:
 a. Price increase: people will cash out the coins to seel them on the market and the bank remain with the profit.
 b. Price decrease: people will sell back to the bank, and the banck charges fees and remain with the profit.

Once again great business ideea, but no really benefit for the coin.

Oh, not incompatible with what I said, but it is a one-time business then.
After the capital has been sold, you cannot continue your operation.

And if you expect to buy back the coin (probably at higher price) and start again ... well ... this would become a bigger and bigger bubble. It would surely pop at some point ^^

Exactly. There is no other way around it.

[baritus]

Unless options expire after a certain length of time.

[baritus]

The bank sells digitalcoin and keeps other currencies.

So in fact, it is promoting liquidity and investment.

[jonsi]

Unless options expire after a certain length of time.

Haaa, nice one

[jonsi]

Anyway, baritus, that it's a great ideea and if you have the founds to implement it you should do it. I'm sure people will buy and you will make a nice profit. Only pls announce me just before you do that so i can buy some coins and sell them just right after the bank will come online so i can make a profit too from your briliant ideea, jus because i don't have the posibillity to implement it myself

[jonsi]

P.S. It would be nice in a forum were we are trying to escape from the tirany of banking system not to use the same expressions as the real fiat bankers: So in fact, it is promoting liquidity and investment... when in fact we bouth know what this is...

[baritus]

Want to make a new dictionary for us? 

[HuuHachu]

I understand what you are trying to do ... but even making the options expire, I'm not sure it would work.

If the option expires entirely at a given time, then people would either sell on an exchange if they have the opportunity, or sell back to the bank just before the expiration.

You have at least to make your option "gradually" expires (buy guarantying a decreasing buying back price). Then it *may* work, depending on the tuning.

[jonsi]

Ha ha. We can make new coins, with new concepts, so... I can't make a new dictionary because I don't have the time and the skills, but it may not be such a bad ideea after all if you think about it. Anyway, a good start on that dictionary would to take out all the fancy words that encifer the banking system so the bankers have more and more control of the people lives, don't you agree? (I guess not, I can see you're in this only for the money and I'm not. Most of all I stand for the ideology of the cryptocurency and I really do belive in a better world, and I'm trying to shape my life starting with "Be the change you wanna see in the world"... but I guess this is off toppic)

[baritus]

For digital currency to be worthwhile and to gain adoption, it would need to provide a benefit. Profit is a universal benefit.

You'll have a better idea of the concept once you see it live.

[jonsi]

Yes, I agree it must provide a benefit. What I'm trying to say is that you announce your ideea and you perfectly are aware of the result... It provide benefit only for you by trying to trick people into it. You don't describe scenarios, you don't make realistic predictions, but instead you use words like "promoting, liquidity and investment"... And the worst part it is that people will actually buy into this...

[baritus]

There is no trick.

It's transparent and clear at all steps.

[Vivisector999]

I had a hope of Digitalcoin taking off, and was one of the 2 Alt coins I started mining (Stablecoins and Digitalcoins).  I lost faith in Digitalcoin when you waved the red flag in front of the bulls.  (Tempted the hackers to 51% your coin), and even said a few questionable things.  But announcements like this help restore my faith in Digitalcoin.  Not because I think it is a great idea, but because it shows you are actually thinking outside the box and not following all the other cookie cutter coins that have been announced recently.    Assuming the coin doesn't go down in the next 10-15 days (I am still kinda leery) I will gladly jump back to the Digitalcoin network.

And nope I didn't dump my Digitalcoins.  Just keeping them in my wallet waiting to see what the next 2 weeks brings.

[tob101]

Well, it seems this FBD bank thing is a REALLY BAD idea.
some smart guy holding DGC just dumped all, I guess hoping to get onboard of FBD?
lol 

We definitely have some smart trader/investor among us 

[r32godzilla]

Well, it seems this FBD bank thing is a REALLY BAD idea.
some smart guy holding DGC just dumped all, I guess hoping to get onboard of FBD?
lol  

We definitely have some smart trader/investor among us  

Troll alert. Every time someone says dgc is going down it comes back up. Dgc is in for long haul evidenced by its growing popularity, innovative dev and team and ever growing list of alt crypto community leading services and marketing.

Great work Baritus! Excellent. Sign me up baby!  

[tob101]

Well, it seems this FBD bank thing is a REALLY BAD idea.
some smart guy holding DGC just dumped all, I guess hoping to get onboard of FBD?
lol  

We definitely have some smart trader/investor among us  

Troll alert. Every time someone says dgc is going down it comes back up. Dgc is in for long haul evidenced by its growing popularity, innovative dev and team and ever growing list of alt crypto community leading services and marketing.

Great work Baritus! Excellent. Sign me up baby!  

Lol  
I just pointed out a big flaw I believe. If I was heavily invested in DGC prior to FBD came into effect.
Once FBD is fully functional, I could dump all my DGC crashing the price and then applying* to FBD with the money from the sell.

Easy money  

You should thank me for pointing this out before this FBD went into effect.  


EDIT: *apply
donations are welcome

[bahamapascal]

Rely looking forward to this! Great work Baritus
Also looking forward to the ARG announcement, seems like a good time to buy right now^^

[fendlestick]

I cant wait to open my own bank!