[ANN][STD] StandardCoin - BUILT-IN EXCHANGE - Permanently Rising Rate

[dreamlucky]

Investors Read this

Quote from https://standardcoin.net/
"Example: 40 BTC is invested in total at the end of the Initial Price Valuation Phase. Investor A invested 10 BTC in this phase.
 Investor A will receive: 10/40 * 100,000,000 = 25,000,000 STD
 The AMC is now: 40 BTC.
 The GER is computed as follow: 40/400,000,000 = 0.000000010 BTC (= 10 Satoshi)"

So I have just invested 10 BTC and now have 25,000,000 worth 10 Satoshi = 2.5 BTC..... :/

The math above shows all initial investors will take an immediate 75% hit on profits.

Also typo on https://standardcoin.net/
Quote from https://standardcoin.net/
"Investor 1 decided to take profit. They sell 100,000,000 STD back to the store at the current GER rate which is 40 satoshi
 Investor 1 will receive 40 BTC.
 AMC is STILL 160 BTC
 GER is STILL 0.000000040 BTC (~ 40 satoshi)
 Stored STD is: 50,000,000 + 100,000,000 = 150,000,000 STD
The AMC is not affeted by this selling activity.
GER still stays at 40 satoshi no matter what."

This is incorrect as shown above Invester 1 (or A) didn't get 100,000,000 STD they got 25,000,000 and at 40 Sat they now have 10BTC their initial investment.

So the only example shown on the home page of someone making profits is not even correct.

[ghibly79]

You deserve a big fat scam tag and I can provide.

[CHMinePeeR]

lol its just funny here look at you people...

It's a Ponzi? maybe yes, but where is the problem? Ponzis are hyip....Cryptos are hyip....

Lets raide that wave, i have a good feeling in this, i think the dev/admin has the knowledge to make this a nice "Programm" / "coin".

If his honesty is equel to his professionalism this can get huge, I hope you Admin know how to promote this Programm.....!!!

btw for now im inpressed of what i saw!


I have some good ideas for this Programm  

[ghibly79]

The problem is he is trying to cover it's a Ponzi, selling it as a "secure investement".
You can run Ponzi games here on this forum, in the gambling section.
That's the problem It's called a scam.

[zeetak]

Selling, PM with offers:

Anybody else notice that "permanent" is spelled wrong in the website logo but right in the wallet?

[CHMinePeeR]

Anybody else notice that "permanent" is spelled wrong in the website logo but right in the wallet?

lol..

[standardcoin]

Anybody else notice that "permanent" is spelled wrong in the website logo but right in the wallet?

lol..

Fixed it

[CHMinePeeR]

Anybody else notice that "permanent" is spelled wrong in the website logo but right in the wallet?

lol..

Fixed it

Well done fast guy

[saltinesk]

On the exchange page, when you click Buy or Sell, it says "The exchange is not openned yet.", that's one too many Ns.

Also, if I put in 1.0 bitcoin to buy, I would get over 13m STD at the current rate, but only 7m if I had paid 1.0 bitcoin during the price evaluation. So does this really mean that right when the exchange opens that I could get a better deal than those that paid during the price evaluation period? Why even have the price evaluation period?

[standardcoin]

On the exchange page, when you click Buy or Sell, it says "The exchange is not openned yet.", that's one too many Ns.

Also, if I put in 1.0 bitcoin to buy, I would get over 13m STD at the current rate, but only 7m if I had paid 1.0 bitcoin during the price evaluation. So does this really mean that right when the exchange opens that I could get a better deal than those that paid during the price evaluation period? Why even have the price evaluation period?

It was just a demo calculator so the number is not correct.
I removed the calculators temporary to avoid making people confused.
I also fixed the typo.

[jomay]

Not sure I understood the initial post, but I'm pretty sure I understand what happens longer term.

Assuming that the dev is trustworth and doesn't run away with BTC or STD... the price guarantee simply puts a lower bound (GER or "price guarantee") on the price, as well as an upper bound (the price you can currently buy from the remaining 50% reserve). The lower bound is at 1/4 of the value invested by early investors and hence they have to accept a possible 75% loss.

The upper bound can be derived as follows:
F = fraction of stored STD available, where 0 <= F <= 1
F/2*MMS = stored STD available
(1/AMC) * F * (MMS/2) = STD's received for one additional BTC invested (there's a tiny rounding approx in here)
(2/F) * (AMC/MMS) = (2/F) * GER = price in BTC/STD to buy from stored STD's

Hence, after the IPO the upper bound is 2*GER. As more people buy from the stored STD the GER goes up and the upper bound increases much faster than the GER.

In other words, after IPO at price z BTC/STD the market price will be between [0.25,0.5]*z BTC/STD or equivalently [1,2]*GER. Whilst it is traded between these bounds NOBODY will buy from the stored STD, but rather from a normal exchange.

Problems:
1) The initial investors in the IPO overpay - they could buy the coin for half of what they paid right after the IPO!
2) The price guarantee is useless as/if more people buy from the stored STD. If 90% of the stored STD were sold the price would be bounded between [1, 20]*GER.
3) The coin cannot go up easily! In addition to the coins generated by the miners there are 50% (!) of the total coins available for sale. Their marginal price is 2x the price paid be the initial investors and goes up slowly as the stored STDs are depleted.
4) The price can actually fall below GER if there are concerns that the dev is trustworthy. See Mt Gox.

Dear initial investors: your only hope can be that more people do not understand the mechanics.

You understand the system correctly. But there is a small mistake in your calculation.
(1/(AMC+1)) * F * (MMS/2) = STD's received for one additional BTC invested (there's a tiny rounding approx in here).
Re-calculate with the new formula, you will see that: The initial investors who join the Price Valuation Phase are the ones that buy at the best rate.

And you also forgot that, when someone dump their STD at GER, the stored STD will increase, which mean more STD for new investors, more profit.

To be honest, it feels like I'm the only one on this forum that understands the system and the math behind it correctly... either I'm a genius or there are a lot of high school kiddies on here.

Regarding your comment: no, the initial investors buy at a bad price. I think someone on the forum also already noticed it that buying after the price valuation phase gives you STD's at roughly half price.

Here are the details: the +1 in 1/(AMC+1) does not make a difference, it is a quantisation effect, as it relates to 1 additional BTC invested. However, to get the true marginal rate for buying STD's you'd have to consider an (infinitesimal) small additional investment of x BTC from the reserve. The accurate formula then is:
S STD's received for x BTC invested:
   S = (x/(AMC+x)) * F * (MMS/2)
   S = F*x*MMS/(2*(AMC+x))
Hence the price paid in BTC/STD is:
   x/S = 2*(AMC+x) / (MMS*F)
simplifying yields:
   x/S = (2/F)*(AMC/MMS + x/MMS)
   x/S = (2/F) * (GER + x/MMS)
Obviously x can be very small, as a buy may choose to buy 0.01 BTC worth of STD's etc.
Taking lim(x/S) for x->0 (i.e. an infinitesimal small buyer) we get the result I stated initially:
   x/S ~= (2/F) * GER

It is possible to fix this, but I can't be bothered going through that now. You can make me a partner, though and I'll think about it again.
Oh well, I guess the simplest fix would be to half the number of STD's received in the S = ... formula.

[standardcoin]

Not sure I understood the initial post, but I'm pretty sure I understand what happens longer term.

Assuming that the dev is trustworth and doesn't run away with BTC or STD... the price guarantee simply puts a lower bound (GER or "price guarantee") on the price, as well as an upper bound (the price you can currently buy from the remaining 50% reserve). The lower bound is at 1/4 of the value invested by early investors and hence they have to accept a possible 75% loss.

The upper bound can be derived as follows:
F = fraction of stored STD available, where 0 <= F <= 1
F/2*MMS = stored STD available
(1/AMC) * F * (MMS/2) = STD's received for one additional BTC invested (there's a tiny rounding approx in here)
(2/F) * (AMC/MMS) = (2/F) * GER = price in BTC/STD to buy from stored STD's

Hence, after the IPO the upper bound is 2*GER. As more people buy from the stored STD the GER goes up and the upper bound increases much faster than the GER.

In other words, after IPO at price z BTC/STD the market price will be between [0.25,0.5]*z BTC/STD or equivalently [1,2]*GER. Whilst it is traded between these bounds NOBODY will buy from the stored STD, but rather from a normal exchange.

Problems:
1) The initial investors in the IPO overpay - they could buy the coin for half of what they paid right after the IPO!
2) The price guarantee is useless as/if more people buy from the stored STD. If 90% of the stored STD were sold the price would be bounded between [1, 20]*GER.
3) The coin cannot go up easily! In addition to the coins generated by the miners there are 50% (!) of the total coins available for sale. Their marginal price is 2x the price paid be the initial investors and goes up slowly as the stored STDs are depleted.
4) The price can actually fall below GER if there are concerns that the dev is trustworthy. See Mt Gox.

Dear initial investors: your only hope can be that more people do not understand the mechanics.

You understand the system correctly. But there is a small mistake in your calculation.
(1/(AMC+1)) * F * (MMS/2) = STD's received for one additional BTC invested (there's a tiny rounding approx in here).
Re-calculate with the new formula, you will see that: The initial investors who join the Price Valuation Phase are the ones that buy at the best rate.

And you also forgot that, when someone dump their STD at GER, the stored STD will increase, which mean more STD for new investors, more profit.

To be honest, it feels like I'm the only one on this forum that understands the system and the math behind it correctly... either I'm a genius or there are a lot of high school kiddies on here.

Regarding your comment: no, the initial investors buy at a bad price. I think someone on the forum also already noticed it that buying after the price valuation phase gives you STD's at roughly half price.

Here are the details: the +1 in 1/(AMC+1) does not make a difference, it is a quantisation effect, as it relates to 1 additional BTC invested. However, to get the true marginal rate for buying STD's you'd have to consider an (infinitesimal) small additional investment of x BTC from the reserve. The accurate formula then is:
S STD's received for x BTC invested:
   S = (x/(AMC+x)) * F * (MMS/2)
   S = F*x*MMS/(2*(AMC+x))
Hence the price paid in BTC/STD is:
   x/S = 2*(AMC+x) / (MMS*F)
simplifying yields:
   x/S = (2/F)*(AMC/MMS + x/MMS)
   x/S = (2/F) * (GER + x/MMS)
Obviously x can be very small, as a buy may choose to buy 0.01 BTC worth of STD's etc.
Taking lim(x/S) for x->0 (i.e. an infinitesimal small buyer) we get the result I stated initially:
   x/S ~= (2/F) * GER

It is possible to fix this, but I can't be bothered going through that now. You can make me a partner, though and I'll think about it again.
Oh well, I guess the simplest fix would be to half the number of STD's received in the S = ... formula.

Yeah, you are right, I noticed that. We will need to tweak the formula a little bit. Thank you for the hint. I'm working on it.
I can't make you a partner but I can donate you some BTC from my own pocket.
what is your BTC address?

[jomay]

To be honest, it feels like I'm the only one on this forum that understands the system and the math behind it correctly... either I'm a genius or there are a lot of high school kiddies on here.

Regarding your comment: no, the initial investors buy at a bad price. I think someone on the forum also already noticed it that buying after the price valuation phase gives you STD's at roughly half price.

Here are the details: the +1 in 1/(AMC+1) does not make a difference, it is a quantisation effect, as it relates to 1 additional BTC invested. However, to get the true marginal rate for buying STD's you'd have to consider an (infinitesimal) small additional investment of x BTC from the reserve. The accurate formula then is:
S STD's received for x BTC invested:
   S = (x/(AMC+x)) * F * (MMS/2)
   S = F*x*MMS/(2*(AMC+x))
Hence the price paid in BTC/STD is:
   x/S = 2*(AMC+x) / (MMS*F)
simplifying yields:
   x/S = (2/F)*(AMC/MMS + x/MMS)
   x/S = (2/F) * (GER + x/MMS)
Obviously x can be very small, as a buy may choose to buy 0.01 BTC worth of STD's etc.
Taking lim(x/S) for x->0 (i.e. an infinitesimal small buyer) we get the result I stated initially:
   x/S ~= (2/F) * GER

It is possible to fix this, but I can't be bothered going through that now. You can make me a partner, though and I'll think about it again.
Oh well, I guess the simplest fix would be to half the number of STD's received in the S = ... formula.

Yeah, you are right, I noticed that. We will need to tweak the formula a little bit. Thank you for the hint. I'm working on it.
I can't make you a partner but I can donate you some BTC from my own pocket.
what is your BTC address?

Happy to get some donations if anyone found my post(s) helpful. I added a BTC address to my sig: 1NoV8NFSB7eiuK2aABFtBTdUdXhbEdG7Ss
You early adopters should be thanking me for spotting this... 

No worries about the partnership, I wasn't really serious. I've got too much to do anyways, and this was a rather simple defect. I'm more interested starting a BTC exchange that can't be hacked like Gox... have a few ideas, but too lazy to get going. 

[Kreativekrypto]

Nice catch Jomay. Dev let us know when the formula is corrected please.

[standardcoin]

Exchange engine has just been tested and it ran smoothly.
Some important changes in the system:

• Future investors will only get 100,000,000 STD.
• The other 100,000,000 STD will go  to "AMC miners" (Who will help the AMC to rise) by mining at a Private Multipool.
• More details will be updated on the main post and the homepage.

[kache]

Exchange engine has just been tested and it ran smoothly.
Some important changes in the system:

• Future investors will only get 100,000,000 STD.

• The other 100,000,000 STD will go  to "AMC miners" (Who will help the AMC to rise) by mining at a Private Multipool.

• More details will be updated on the main post and the homepage.

Nice, following the Blackcoin idea? Not a bad one.

[NickPortland]

Come on, who's giving the dev negative Trust points?

You can't just do that faking transactions and deals.

He should report the culprits to mods.

[standardcoin]

Come on, who's giving the dev negative Trust points?

You can't just do that faking transactions and deals.

He should report the culprits to mods.

A kid couldn't understand the system even I tried to explain it to him a few times.
After I told him to go learn some basic maths first. He gave me a negative feedback. lol.

[standardcoin]

More info updated. Pool will be launched soon.
https://standardcoin.net/multipool

[CarlosWing]

why you Trust is -6?