I saw this coin on livecoin exchange, does someone know it? i would like to have more informations
Here's a link to their [ANN] thread:
https://cryptocurrencytalk.com/topic/50345-dmc-dynamiccoin-information/Dynamic Block Reward changes on the fly every 15 seconds based on market price of coin to create a stable and non-volatile price.
Block Reward ranges from 1 DMC to 1,000,000 DMC but will always be 1 if price is less than $1 USD
If Coin price goes down, the block reward decreases to reduce supply and increase demand
If Coin price goes up, the block reward increases to increase supply and reduce demand
When coin price reaches $1 miner incentive and ROI increases exponentially. for every $0.01 USD price higher than $1 the block reward will increase by 1 therefore increasing the block reward for the miner while on the same time increasing supply. e.g. if the coin price is $1.10 the block reward will be 10 DMC, if the coin price is $1.50 the block reward will be 50 DMC. HOWEVER, as the block reward increases so does the supply of the coin that will therefore create increasing supply and therefore decrease demand. those constantly 2 opposing forces of miners pushing price up constantly while on the same time increasing supply and reducing demand creates a stability that does not exist in other crypto currencies...
So basically it's an attempt to create a stable crypto. When the price goes over $1, more coins are mined hence increasing supply and resulting in lower prices. When the price goes under $1, less coins are mined hence decreasing supply and resulting in higher prices.
Now, I have no idea how they get the price data in the first place (and I don't have time to snoop around either). That being said,
CoinMarketCap shows it as being worth $0.000114, so it seems that their attempt to keep it close to $1 has failed.
