+1
i concur....
sadly this coin will become what the devs didnt want....
which is strictly a pump and dump coin....
it was pumped and dumped before it got to cryptsy...
then dumped when it hit cryptsy...
noone is gonna accept a pup an dump coin as currency...
i could be wrong...who knows
What honestly did they expect? This was almost always going to happen, and to think the Mazacoin devs didn't see it coming would be incredibly naive.
If this coin is legit, then it's current price on the market is
meaningless. If the coin is being used to actually support a real sovereign state, then they can set the value per coin at whatever they damn well please! This idea that the market value has any bearing on their ability to dictate the value is just utter nonsense.
If they said the value per Maza was x, and the coins were used at x price, then the market price will follow.
Not the other way around. If the Mazacoin devs turn around and blame the market prices on why they couldn't release this coin to the Maza people, then this pretty much tells you it was a scam from the start.
I think you're dead wrong with the assumption that the tribe will set the "real price" of the coin, and here's why: Say they have a grocery store and someone wants to buy 1 weeks worth of food with 80 maza lets say,
the whole supply chain would have to agree on such a price for it to work. So what this means is the grocery store pays for their supply of goods from outside vendors and distributors, who would have to agree to the maza standard and accept it's worth. Then, they would have to pay the individual food brands who supply the store in maza who would have to pay their workers in maza, etc...
The whole system breaks down immediately because if I want to buy a loaf of bread with 1 maza lets say, the store who is selling that loaf to me actually paid USD for it from their vendors, and so on and so on. The entire chain of supply would have to acknowledge to a universally standard of what 1 maza is really worth. Otherwise, the store clerk would say, "wait a sec, we just paid $1.50 for this bread in real money and now we're selling it for something worth less than a penny?"
Correct me if I'm wrong here, but I think adopting a different standard for the worth of maza outside of what the market says is completely pointless, because the supply chain simply won't allow it. Now if you have two people who independently create something and sell/trade with each other, then yes, they can price 1 maza for whatever they want. Once you add in outside factors of the supply chain, then you would have to convince each and every factor to adopt the "real price" according to the tribe. The supply chain extends to everything you could think of...buildings, streets, schools, food, gas...whatever. Each industry has multiple supply chains and countless companies who agree to the USD value of goods and services. I highly doubt anyone of those checkpoints in the supply chain are going to spend millions of USD on supplies or services and get paid on the backend with the "real value" of maza. Sure, they can get paid with maza, so don't get me wrong there. But the price of each maza will solely depend on USD market value.
So, it truly is the investors who set the price of the coin and not the tribe saying, "No, Maza is worth $1 each on the reservation." It doesn't work that way because
99.9% of the supply chain works outside of the reservation to produce the goods and services to bring into the reservation and as such, it spends USD in doing so.
Again, please correct me if I'm wrong.
