[ANN] OneSingleCoin - a cryptocurrency that has just one circulating coin

[mscott42]

I whipped up the following spreadsheet to see how much do each one of the past hodlers make in total based on where the chain ends:

https://docs.google.com/spreadsheets/d/1I7MBUx5zpiH2F-8aDZqpvOtE7hLJ5LOW8NYXqf_g5VU/edit?usp=sharing


One can easily see that even if the chain ends at the 72nd hodler who would pay 2791ETH (~$1.329 million at current ETH prices at the time of this post), majority of the original hodlers would have cumulatively made less than 15ETH (~$7150 at current ETH prices at the time of this post).


Please only change cell B1 to playaround, but if somebody messes up the spreadsheet, then here is a read-only version:

https://drive.google.com/open?id=1oUgiumeSLHo0dxIfomYrHGEVy0xpyBkrX3AsnfpFSOI

Please do not treat this project as a pyramid scheme. The small amount of reward which previous owners get should not be considered as main value (since it's quite small amount even in an optimistic scenario like yours). The main value for the buyer is the ability to broadcast some message to the world and potentially get some benefits from it (in case of an ad) or just have some fun (a meme/pet pic).

[activemind]

shared this project with few friends and most of them considered this a ponzi scheme. To be honest it does fit the textbook definition of a ponzi scheme except the buyer is not tricked into buying for a guaranteed ROI. The buyer knows well that he will not get his 1.12x ETH if there are no new buyers. However the buyer does get to advertise a message to the world which is fascinating.

[mscott42]

shared this project with few friends and most of them considered this a ponzi scheme. To be honest it does fit the textbook definition of a ponzi scheme except the buyer is not tricked into buying for a guaranteed ROI. The buyer knows well that he will not get his 1.12x ETH if there are no new buyers. However the buyer does get to advertise a message to the world which is fascinating.

It's rather referral marketing than a ponzi scheme. Like you mentioned there's real value that the buyer receives - ability to advertise a message. She receives this value no matter whether someone will buy the coin from her or not.

[pikkie]

your coin using ethereum platform? I would say you are great if you use your own platform

[mscott42]

your coin using ethereum platform? I would say you are great if you use your own platform

Yes, it's ethereum platfrom. Creating own platform is too much trouble for a little side-project that i've made just for fun. 

[mscott42]

shared this project with few friends and most of them considered this a ponzi scheme. To be honest it does fit the textbook definition of a ponzi scheme except the buyer is not tricked into buying for a guaranteed ROI. The buyer knows well that he will not get his 1.12x ETH if there are no new buyers. However the buyer does get to advertise a message to the world which is fascinating.

Let's take the wikipedia definition and take it apart.

"Ponzi scheme is a fraud scheme in which a victim is tricked into investing in a company that does not actually do business, and only generates a return on investment when more marks invest. As a result, when the scheme can no longer attract new investors, it dies."

So:
- a fraud scheme in which
It can't be fraud because the rules of game are known beforehand and published as a smart contract code. The rules of game can't be changed either since they are in blockchain.

- a victim is tricked
The buyer of coin is aware about these rules so nobody tricks him.

- in a company that does not actually do business
Owning the coin gives the buyer a real value - ability to advertise her message.

- when the scheme can no longer attract new investors
If nobody buys the coin from the last owner, she just keeps receiving value by advertising her message

Think of this project as a modern version of the milliondollarhomepage (https://en.wikipedia.org/wiki/The_Million_Dollar_Homepage) except the messages are stored in blockchain rather than being just on a website.

[cryptaxo]

there was already one popular 42 coin, which had total supply of 42, you can move your decimal anywhere, there have been a lot of such shit coins, 808, 777, abd blah blh balah, all are dead

[Horas1976]

Onesinglecoin looks a private coin that can be used for investors, and later among investors who can use, but have a decent value.

[cryptaxo]

Onesinglecoin looks a private coin that can be used for investors, and later among investors who can use, but have a decent value.

but why would it have a value?