KARPELESCOIN is skyrocket

[rascallcooin]

KarpelesCoin is already in #23 ni marketcap.

now is time for buying

[roozifus]

I don't really understand how this coin is going to work.

There's a 50% premine that is supposed to help the victims of gox right.

But to help the victims, that 50% would have to be sold for BTC? which could not possibly happen.

With Aurora, the idea is that 50% is premined and given to people to use as a currency, so they keep, and trade, and use Aurora in Iceland and it continues to have value.

But you can't just generate 50% of a coin and magically sell it to nobody???

Unless they intend that this is a special coin that Gox victims will use to make payments and trade with each other?

Am I missing something?

[pandher]

Another pump and dump, some noobs gonna get burnt again. Better play the coin2 fps - https://bitcointalk.org/index.php?topic=554119.0

[roozifus]

Another pump and dump, some noobs gonna get burnt again. Better play the coin2 fps - https://bitcointalk.org/index.php?topic=554119.0

I don't understand that one either, why doesn't somebody just make a CS mod that connects user accounts to bitcoins or something..

[cryptowho]

coinmarket means nothing to new coins.

i can buy the first coin at 0.0001 of your coin@100 btcs. aka 0.01BTC total  and coinmarketcap will take this 100btcs /coin rate and time it with your total coin and give you a marketcap of $100,000,000,000,000,000,000

[cryptowho]

PS: What ever happened to antiKeizerCoin?

[roozifus]

coinmarket means nothing to new coins.

i can buy the first coin at 0.0001 of your coin@100 btcs. aka 0.01BTC total  and coinmarketcap will take this 100btcs /coin rate and time it with your total coin and give you a marketcap of $100,000,000,000,000,000,000

You are right but that tends to work itself out in a couple of hours.

The main issue here is the same with all pre-mines where the pre-mine is withheld until some later date (Karpeles, Aurora, etc)

coinmarketcap multiplies the current price by the number of coins that have been produced so far.

Normally this is fine, but with a 50% pre-mine only about 1% of the coins may be tradeable, leading to a high unit price per coin.

coinmarketcap multiplies this number by the total coins in existence, say 51%.

So yea, the market cap is completely wrong in this case.

Really coinmarketcap should not include the premined coins in its calculations until they are released and available for trade.

Although this would cause a crazy spike between when the pre-mine is released and the price adjusts, so I guess it's messed up either way.

[rascallcooin]

no in rank #10 http://coinmarketcap.com/