CORION - Price stable cryptocurrency - Always around $1

[kraterion]

The price for COR tokens as suggested by the developers and written in their technical documentation was to be stable and equal to $ 1 and if the price of the token fell below $ 1, then the project was supposed to hold the price of the token in the region of $ 1 but in practice the price of COR was below 0.65 cents but the project did not raise the price of the token to $ 1.

3 Reasons:

1 BTC is dropping (now, not the past weeks).
2 Daytraders on Cryptopia don't know the CORION system. The buy, wait for 5-10% profit and sell. This is to much fluctuation and can't be corrected. That's why CORION is working on an internal exchange where day traders have no influence.
3 ICO investors who only wanted quick profit. Take the 25% bonus, sell as soon as the ICO is over.


2 and 3 combined is to much for the stabilization fund. Expected in januari, the new wallet with internal exchange will arrive. Then CORION would probably be delisted at Cryptopia and thgen the price can be stable at $1 +- 3% (?)

Order books are so thin that I don't believe that you can't rise the price above $1 with just a couple of BTC. I just checked and the way to 9000 sat is just 1.46626273 BTC , how much is the fund? 1 mBTC?

[db71]

The price for COR tokens as suggested by the developers and written in their technical documentation was to be stable and equal to $ 1 and if the price of the token fell below $ 1, then the project was supposed to hold the price of the token in the region of $ 1 but in practice the price of COR was below 0.65 cents but the project did not raise the price of the token to $ 1.

3 Reasons:

1 BTC is dropping (now, not the past weeks).
2 Daytraders on Cryptopia don't know the CORION system. The buy, wait for 5-10% profit and sell. This is to much fluctuation and can't be corrected. That's why CORION is working on an internal exchange where day traders have no influence.
3 ICO investors who only wanted quick profit. Take the 25% bonus, sell as soon as the ICO is over.


2 and 3 combined is to much for the stabilization fund. Expected in januari, the new wallet with internal exchange will arrive. Then CORION would probably be delisted at Cryptopia and thgen the price can be stable at $1 +- 3% (?)

Order books are so thin that I don't believe that you can't rise the price above $1 with just a couple of BTC. I just checked and the way to 9000 sat is just 1.46626273 BTC , how much is the fund? 1 mBTC?

It is indeed easy to get the price back to $1, but keeping it there is difficult. Lot's of traders at Cryptopia bought CORION and are waiting for a profit. If the price is rised to $1, then they certainly will sell and the price will drop again. So 1.5 BTC is not all what is needed.

There are also still some ICO investors waiting for a good price to sell their amount. And last, investors who desperately need some cash and investors who think that there could be more profit in other coins will also sell at higher price levels.

The stabilisation fund should have been used from the moment that CORION was listed at Cryptopia, but they waited to long. The CORION foundation tried it a couple of times, but didn't expect to see such sell orders after they rised the price and now it is to late.


When in januari the coin would be delisted from Cryptopia and there will be an internal wallet, then after all day traders sold their coins (to the CORION foundation), the CORION will be stable...

[new24core]

Is this project dead or is there another channel with more updates as it is way too quiet!?

[db71]

Is this project dead or is there another channel with more updates as it is way too quiet!?

This project is not dead, but people are waiting for the wallet update in januari. More info is in the Telegram group.

[qazgroup]

I do hold a few corion coins but i do not think that the price should be locked, the market should decide the right price of any coin.

[db71]

I do hold a few corion coins but i do not think that the price should be locked, the market should decide the right price of any coin.

CORION will be stabilized around $1, say plus or minus 3 cents. This makes CORION fairly unique. The market does not control the price, but the market cap. Lot's of ordinary people don't want to get involved in the future because cryptocurrencies are to volatile. If they can buy a bread for $1 in crypto today but need to pay $1.50 a day later then you can see that volatility of coins is not a good thing.

[kolchin.makar]

Hey.
Tell me, only I have a problem with withdrawing funds from the purse of Corion?
Already 2 months I write in support, but every time I'm sent to wait!
Why such an irresponsible approach? 
Who knows who to turn to?
And after all, I paid for it at the time of ICO Corion.

[db71]

Hey.
Tell me, only I have a problem with withdrawing funds from the purse of Corion?
Already 2 months I write in support, but every time I'm sent to wait!
Why such an irresponsible approach? 
Who knows who to turn to?
And after all, I paid for it at the time of ICO Corion.

What is your problem? Is your wallet 'watch only' or 'for use'? If 'watch only' then read this (if you didn't already): http://blog.corion.io/headline/corion-announcement-wallet-unlock/

[cukimot]

It is indeed easy to get the price back to $1, but keeping it there is difficult. Lot's of traders at Cryptopia bought CORION and are waiting for a profit. If the price is rised to $1, then they certainly will sell and the price will drop again. So 1.5 BTC is not all what is needed.

There are also still some ICO investors waiting for a good price to sell their amount. And last, investors who desperately need some cash and investors who think that there could be more profit in other coins will also sell at higher price levels.

The stabilisation fund should have been used from the moment that CORION was listed at Cryptopia, but they waited to long. The CORION foundation tried it a couple of times, but didn't expect to see such sell orders after they rised the price and now it is to late.


When in januari the coin would be delisted from Cryptopia and there will be an internal wallet, then after all day traders sold their coins (to the CORION foundation), the CORION will be stable...

hello db71
are you sure Corion would be delist from cryptopia?
any exchange will coming soon?

[db71]

It is indeed easy to get the price back to $1, but keeping it there is difficult. Lot's of traders at Cryptopia bought CORION and are waiting for a profit. If the price is rised to $1, then they certainly will sell and the price will drop again. So 1.5 BTC is not all what is needed.

There are also still some ICO investors waiting for a good price to sell their amount. And last, investors who desperately need some cash and investors who think that there could be more profit in other coins will also sell at higher price levels.

The stabilisation fund should have been used from the moment that CORION was listed at Cryptopia, but they waited to long. The CORION foundation tried it a couple of times, but didn't expect to see such sell orders after they rised the price and now it is to late.


When in januari the coin would be delisted from Cryptopia and there will be an internal wallet, then after all day traders sold their coins (to the CORION foundation), the CORION will be stable...

hello db71
are you sure Corion would be delist from cryptopia?
any exchange will coming soon?

I'm not sure it will be delisted, but my guess is that when there is an internal exchange in the wallet where the price will be always around $1, that other exchanges are to risky because of possible volatility of the coin prices. The CORION devs are hard working to deliver the new wallet on time before the end of this month.

[withche.07]

I feel like this is new Tether (obviously) and it shouldn't be used other than quick trades. 1 dollar is 1 dollar, nothing will be completely set to that price using coins. It won't work.

[new24core]

Just tried to send money from wallet to cryptopia and two transactions are not showing.........

Is this coin dead or/and a scam ?

[lakimens]

Gotta say, it's not really stable at $1, besides, why do we need this? We have Tether(USDT).

[new24core]

Just tried to send money from wallet to cryptopia and two transactions are not showing.........

Is this coin dead or/and a scam ?

I have opened a support case, let's hope they moved quicker than ETN support!!!!!

[db71]

Gotta say, it's not really stable at $1, besides, why do we need this? We have Tether(USDT).

CORION is different from Tether. I'll advise you to check the whitepapers @ http://coin.corion.io and read for yourself why CORION is different from Tether.

And the price... it will be $1 again very soon. The devs are working on a new wallet with an exchange inside the wallet and when this new wallet is released, then the price would be stabilized at $1 in a couple of days/weeks...

[db71]

Dear Corioners,

We would like to inform you gladly that our first outcome of our development work will be released on Tuesday, January 23. Therefore we will be doing maintenance work in between 10 AM and 2 PM CET Timezone.

Our team worked hard over the last period and the first part of the year to make this change happen. Firstly we will renew the Corion Wallet. We completely refactored the frontend and backend code which will lead us to more modularity and to a major step up regarding security. The system got migrated to AWS which affects the performance level in a really positive way. We have changed the ETC client to Parity and because of the no more “Node out of sync” messages for you! These changes and refreshed working methods could seem to be conspicuous but our development team worked really hard over 3 months with the main focus of redefining the Corion platform and by that presenting a rock-solid stable system for our users.

Please do not forget to plan your wallet according to the maintenance what we will be doing in between 10 AM and 2 PM CET Timezone January, 23.

We wish you a great and successful week,

Your Corion Team

[The Demon Slick]

Noob question... if the price rises, and more coins are released to lower the price, do they exist forever? How is the supply reduced when that is what is required to get back to around a dollar? In other words, say the price goes way up, and tons of coins are released to drop it down. But then the price drops way down, all those coins are still out there. I understand how you increase the supply. I don't understand how you decrease it. Do you just wait and hope demand increases on its own, bringing up the price?

[kraterion]

Dear Corioners,

We would like to inform you gladly that our first outcome of our development work will be released on Tuesday, January 23. Therefore we will be doing maintenance work in between 10 AM and 2 PM CET Timezone.

Our team worked hard over the last period and the first part of the year to make this change happen. Firstly we will renew the Corion Wallet. We completely refactored the frontend and backend code which will lead us to more modularity and to a major step up regarding security. The system got migrated to AWS which affects the performance level in a really positive way. We have changed the ETC client to Parity and because of the no more “Node out of sync” messages for you! These changes and refreshed working methods could seem to be conspicuous but our development team worked really hard over 3 months with the main focus of redefining the Corion platform and by that presenting a rock-solid stable system for our users.

Please do not forget to plan your wallet according to the maintenance what we will be doing in between 10 AM and 2 PM CET Timezone January, 23.

We wish you a great and successful week,

Your Corion Team

Have you moved to Parity client for ETC?

About supply, if I remember correctly there are no plans to reduce supply which is very low at the moment by the way

[new24core]

Gotta say, it's not really stable at $1, besides, why do we need this? We have Tether(USDT).

CORION is different from Tether. I'll advise you to check the whitepapers @ http://coin.corion.io and read for yourself why CORION is different from Tether.

And the price... it will be $1 again very soon. The devs are working on a new wallet with an exchange inside the wallet and when this new wallet is released, then the price would be stabilized at $1 in a couple of days/weeks...

Great support...coins now on cryptopia!

Thanks again!

[fudge]

is this project dead?