[ANN][SHARE]ShareCoin - Pure POS - The only coin backed up by a real bussiness

[melosine]

If people get interest for leaving their coins in the exchange doesn't that undrmine the cryptocurrency's inherent decentralization? Cause so many coins will be centralized in one wallet? I may misunderstand the concept but that's what I'm wondering about.

+1
It also gives the coin a single point of failure, once the exchange is hacked, most of the coins are lost.
I have seen many experts saying never to leave the coins in exchange in this same forum. (But none of the coins offered twice POS rate though  )

what's the logic behind this interest concept then?

[AcidReniX]

Feeshare price is too high and I fear it will devalue the coin as people will associate ShareCoin's value with the FeeShare price.

As it stands, 0.001% of the exchange's income is worth $50. This means the value of the 100,000 FeeShares is set at $5,000,000 and that in turn would value the exchange as a  $50,000,000 business. I think a lot of people wanted to invest in this coin because of the FeeShares and to make that a viable and realistic investment the value of the exchange would need to be a figure ten times less than it is now (or even more). The coin price would need to drop to around 50 satoshis or beyond.

It's early in the morning so I hope that makes sense, but I still think you're going to need to drop a decimal place on the cost of the feeshares, or move up a decimal point on the FeeShare revenue percentage and knock a zero off the max number of FeeShares.

[bytedisorder]

Quote from Sharexcoin.com

ShareCoin Re-Distribution

ShareCoin generated from FeeShares sale will be distributed back to the community in 2 ways:
MultiPool distribution: ShareCoin are distributed to the Multipool's miners at the current market price. As the ShareCoin are taken from the FeeShares sell, this won't affect the market price. Threrefore, miners are getting ShareCoin at the best rate available. Join our multipool at:
Exchange interest: Keeping ShareCoin inside the exchange will let you earn interest on ShareCoin itself. The interest rate is twice as much the ShareCoin's stake interest rate at that time.

Dear dev,

my question is about the exchange interest:
for the first year, I can get 60%.   How long will the interests be paid?  Each 24 hours as in our own wallet?

Half of the coins are paid by the coin's stake itself. The other half is paid by the ShareCoin generated from FeeShare sale.

I understand the composition of the payment.  My question is how often the payment will be paid.  Each 24hrs or each week?

[AcidReniX]

To put it into another perspective:
Cost to buy 3 FeeShares: 0.3363 BTC
To break even on that investment, the Exchange would need to make 33,630 BTC in profit, or $15,000,000 USD.

This doesn't seem realistic to me. The coin's value would need to drop significantly for the FeeShare purchases and then rise significantly for this to be a realistic investment. That's also assuming the exchange grows to become a major player in the cryptocurrency trading market.. and I mean MAJOR.

[bytedisorder]

Quote from Sharexcoin.com

ShareCoin Re-Distribution

ShareCoin generated from FeeShares sale will be distributed back to the community in 2 ways:
MultiPool distribution: ShareCoin are distributed to the Multipool's miners at the current market price. As the ShareCoin are taken from the FeeShares sell, this won't affect the market price. Threrefore, miners are getting ShareCoin at the best rate available. Join our multipool at:
Exchange interest: Keeping ShareCoin inside the exchange will let you earn interest on ShareCoin itself. The interest rate is twice as much the ShareCoin's stake interest rate at that time.

Dear dev,

my question is about the exchange interest:
for the first year, I can get 60%.   How long will the interests be paid?  Each 24 hours as in our own wallet?

Half of the coins are paid by the coin's stake itself. The other half is paid by the ShareCoin generated from FeeShare sale.

Some clarification please. I don't understand the second part.

you know your sharecoin will mint at the rate 30% per year. That will be paid to you as the first part if you deposit your sharecoin in the exchange instead of in your wallet.
The left 30% interest will be paid using the Sharecoin which the dev will get from the FeeShare sale (1Fee=20,000Sharecoins now).

[bytedisorder]

To put it into another perspective:
Cost to buy 3 FeeShares: 0.3363 BTC
To break even on that investment, the Exchange would need to make 33,630 BTC in profit, or $15,000,000 USD.

This doesn't seem realistic to me. The coin's value would need to drop significantly for the FeeShare purchases and then rise significantly for this to be a realistic investment. That's also assuming the exchange grows to become a major player in the cryptocurrency trading market.. and I mean MAJOR.

The math is reasonable for me.  So I don't want to buy any Fee at the present rate now.

[Angelie1LTC]

Any coin with sincere dev and perfect plan will go to the places.

good luck.

[zhou123]

i can't download the block,anyone has the same problem?

[ackcoin]

Any coin with sincere dev and perfect plan will go to the places.

good luck.

这句是灌水之王，任何发补贴都适用。

[1018367]

you can't reply use Chinese. yours post will be delete!

[salamiji]

Any coin with sincere dev and perfect plan will go to the places.

good luck.

这句是灌水之王，任何发补贴都适用。

chinese will be delete here

[AcidReniX]

If the revenue from a single FeeShare was increased from 0.001% to 0.01% and the number of FeeShares decreased from 100,000 to 10,000, the rough 9am morning maths would look as follows:

Cost to buy 3 FeeShares: 0.3363 BTC
To break even on that investment, the Exchange would need to make 3,630 BTC in profit, or $1,500,000 USD.

Even that still seems quite high but a hell of a lot more realistic.

I genuinely thought the cost of a FeeShare would be nearer to 1000 - 5000 ShareCoins each, with the FeeShares being bought out almost immediately and then appearing on the market allowing the community to effectively decide the value of 5% of the business.

If they were priced at 1000 ShareCoins each, it means that the 50,000 FeeShares available could be bought out by 769 people's shares from the initial distribution (or around half). Some people would place these FeeShares on the market and the value of them would rise and fall depending on how well the exchange is doing, but currently if FeeShares were able to be placed on the exchange markets (and made unavailable from the exchange), I think I'd struggle to sell them at a huge loss.

Anyway, it's all up to the devs, but I think they've made a misjudgment on this one. It will be interesting to see how adaptable they are from their initial plans as I can't see this one working for many people.

[bytedisorder]

If the revenue from a single FeeShare was increased from 0.001% to 0.01% and the number of FeeShares decreased from 100,000 to 10,000, the rough 9am morning maths would look as follows:

Cost to buy 3 FeeShares: 0.3363 BTC
To break even on that investment, the Exchange would need to make 3,630 BTC in profit, or $1,500,000 USD.

Even that still seems quite high but a hell of a lot more realistic.

I genuinely thought the cost of a FeeShare would be nearer to 1000 - 5000 ShareCoins each, with the FeeShares being bought out almost immediately and then appearing on the market allowing the community to effectively decide the value of 5% of the business.

If they were priced at 1000 ShareCoins each, it means that the 50,000 FeeShares available could be bought out by 769 people's shares from the initial distribution (or around half). Some people would place these FeeShares on the market and the value of them would rise and fall depending on how well the exchange is doing, but currently if FeeShares were able to be placed on the exchange markets (and made unavailable from the exchange), I think I'd struggle to sell them at a huge loss.

Anyway, it's all up to the devs, but I think they've made a misjudgment on this one. It will be interesting to see how adaptable they are from their initial plans as I can't see this one working for many people.

good point. But I don't think the dev will like it.

[melosine]

If the revenue from a single FeeShare was increased from 0.001% to 0.01% and the number of FeeShares decreased from 100,000 to 10,000, the rough 9am morning maths would look as follows:

Cost to buy 3 FeeShares: 0.3363 BTC
To break even on that investment, the Exchange would need to make 3,630 BTC in profit, or $1,500,000 USD.

Even that still seems quite high but a hell of a lot more realistic.

I genuinely thought the cost of a FeeShare would be nearer to 1000 - 5000 ShareCoins each, with the FeeShares being bought out almost immediately and then appearing on the market allowing the community to effectively decide the value of 5% of the business.

If they were priced at 1000 ShareCoins each, it means that the 50,000 FeeShares available could be bought out by 769 people's shares from the initial distribution (or around half). Some people would place these FeeShares on the market and the value of them would rise and fall depending on how well the exchange is doing, but currently if FeeShares were able to be placed on the exchange markets (and made unavailable from the exchange), I think I'd struggle to sell them at a huge loss.

Anyway, it's all up to the devs, but I think they've made a misjudgment on this one. It will be interesting to see how adaptable they are from their initial plans as I can't see this one working for many people.

does this consider that the revenue is paid out every 6 hours?

[xibeijan]

Yes.  Cost of FreeShares is too damn high!

[samysamy1]

Quote from Sharexcoin.com

ShareCoin Re-Distribution

ShareCoin generated from FeeShares sale will be distributed back to the community in 2 ways:
MultiPool distribution: ShareCoin are distributed to the Multipool's miners at the current market price. As the ShareCoin are taken from the FeeShares sell, this won't affect the market price. Threrefore, miners are getting ShareCoin at the best rate available. Join our multipool at:
Exchange interest: Keeping ShareCoin inside the exchange will let you earn interest on ShareCoin itself. The interest rate is twice as much the ShareCoin's stake interest rate at that time.

Dear dev,

my question is about the exchange interest:
for the first year, I can get 60%.   How long will the interests be paid?  Each 24 hours as in our own wallet?

Half of the coins are paid by the coin's stake itself. The other half is paid by the ShareCoin generated from FeeShare sale.

Some clarification please. I don't understand the second part.

you know your sharecoin will mint at the rate 30% per year. That will be paid to you as the first part if you deposit your sharecoin in the exchange instead of in your wallet.
The left 30% interest will be paid using the Sharecoin which the dev will get from the FeeShare sale (1Fee=20,000Sharecoins now).

You swap your sharecoins for feeshares and you still get rewarded 30% afterwards? I would expect to receive only revenue from the exchange.
It's like you're selling your house to someone else, but you still keep benefitting from it by receiving rent.
Sorry but this model seems completely off to me.

[JeffK]

If the revenue from a single FeeShare was increased from 0.001% to 0.01% and the number of FeeShares decreased from 100,000 to 10,000, the rough 9am morning maths would look as follows:

Cost to buy 3 FeeShares: 0.3363 BTC
To break even on that investment, the Exchange would need to make 3,630 BTC in profit, or $1,500,000 USD.

Even that still seems quite high but a hell of a lot more realistic.

I genuinely thought the cost of a FeeShare would be nearer to 1000 - 5000 ShareCoins each, with the FeeShares being bought out almost immediately and then appearing on the market allowing the community to effectively decide the value of 5% of the business.

If they were priced at 1000 ShareCoins each, it means that the 50,000 FeeShares available could be bought out by 769 people's shares from the initial distribution (or around half). Some people would place these FeeShares on the market and the value of them would rise and fall depending on how well the exchange is doing, but currently if FeeShares were able to be placed on the exchange markets (and made unavailable from the exchange), I think I'd struggle to sell them at a huge loss.

Anyway, it's all up to the devs, but I think they've made a misjudgment on this one. It will be interesting to see how adaptable they are from their initial plans as I can't see this one working for many people.

does this consider that the revenue is paid out every 6 hours?

That doesn't change anything. If you get payed more times per day you will payed less amount each time than if you were payed only once but total earnings will be the same.

[AcidReniX]

Well, it is up to them.

I just don't see how the community is going to invest 5605 BTC (at current coin prices) to purchase 50,000 FeeShares and then wait for the exchange to make 112,100 BTC in profit to just break even. For the exchange to make 112,100 BTC in profit with a 1% fee they would need to have a trade volume or 11,210,000 BTC.

Considering there are 12,742,100 BTC (or close to) in existence, it would mean the exchange would need to have the equivilent of 88% of all the bitcoins in existance pass through SharexCoin for the FeeShare investors to make back more money than they would by simply selling the ShareCoins at their current value.

Call me a pessimist but...

[bytedisorder]

If the revenue from a single FeeShare was increased from 0.001% to 0.01% and the number of FeeShares decreased from 100,000 to 10,000, the rough 9am morning maths would look as follows:

Cost to buy 3 FeeShares: 0.3363 BTC
To break even on that investment, the Exchange would need to make 3,630 BTC in profit, or $1,500,000 USD.

Even that still seems quite high but a hell of a lot more realistic.

I genuinely thought the cost of a FeeShare would be nearer to 1000 - 5000 ShareCoins each, with the FeeShares being bought out almost immediately and then appearing on the market allowing the community to effectively decide the value of 5% of the business.

If they were priced at 1000 ShareCoins each, it means that the 50,000 FeeShares available could be bought out by 769 people's shares from the initial distribution (or around half). Some people would place these FeeShares on the market and the value of them would rise and fall depending on how well the exchange is doing, but currently if FeeShares were able to be placed on the exchange markets (and made unavailable from the exchange), I think I'd struggle to sell them at a huge loss.

Anyway, it's all up to the devs, but I think they've made a misjudgment on this one. It will be interesting to see how adaptable they are from their initial plans as I can't see this one working for many people.

does this consider that the revenue is paid out every 6 hours?

That doesn't change anything. If you get payed more times per day you will payed less amount each time than if you were payed only once but total earnings will be the same.

That's right. The total paid amount is fixed.

[salamiji]

20000sharecoin can buy 1 fee only