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

[Majormax]

I have no doubt the developers of this coin have put a lot of work in and have nothing but good intentions for this coin. Obviously they are out to make some money (as we all are). I believe the exchange is their end game goal. Popular exchanges make a lot of money which is why they do not need to gain anything from the ShareCoins themselves. There is nothing wrong with this strategy, in fact this is better for us, because it means we get a fair coin distribution and they get an active exchange.

It is win-win for all of us.

This is why I have faith that the developers will look into the connection between the coins and the exchange, which currently does not work for anyone. People are interested in the future potential of the coin because of the connection with the coin exchange. The connection is the FeeShares.

The FeeShares' value needs to increase or decrease based on the value of the exchange (not the value of ShareCoins). They need to be on a market where the price increases or drops just like any other coin. People may sell their feeShares for a profit if the exchange starts growing, or they may sell FeeShares at a loss if the exchange is in decline. The FeeShares also need to start on the market at a viable price. it makes no difference to the Devs if the FeeShares sell out at a cheap price as it is the regular punters who will be fighting to buy / sell the FeeShares between ourselves. Someone buys the shares for cheap, the exchange value rises and they sell the shares to someone for a profit. The new owner is happy because they are getting a sustained income from the exchange and the old owner is happy because they made a profit on the shares themselves. This is in the Dev's interest as it means the exchange becomes much more popular.

As it stands, the people who have bought into FeeShares will realistically never see a profit, and the FeeShares will never get sold out unless the coin is devalued all the way down to 1 satoshi (and even then they will struggle to sell). The ratio of coins to FeeShares is all wrong. The price is wrong. The inability to exchange FeeShares means that once someone is invested, they are stuck there for good.

I'm sticking around to see how this coin goes as the Dev's have been spot on up until this point. I just hope they know how to react to things like this correctly or they will end up with a dead exchange as we end up with a dead coin.

great explanation, nice one

Yes, read this one, plus mine above to get a fair explanation.

[buddynuno]

and it is going up again...

[youngcave]

this thread is very hot！I saw the moon ;DI predict price will reach 7000 satoshi-15000 satoshi in a month

yes, you can YY or you can yiyin...

haha
 

fly to da moooooooooooooooooooooooooooooooooooon

It will be sunned under this sharefee scheme

actually I didn't understand that part of the project...

I understand
Dev means that 100%fee=100000fee=1000BTC  1fee=20000sharecoin
So 1sharecoin=0.00000005BTC

[leekua]

One thing is for sure, ppl are never happy.

You give them a free coin, with this perfect distribution, a coin which is backed up by a good working exchange on the long term, an idea to create buy pressure on the long term, and they are not happy.

They want your business too for free )

I'm so disappointed in the humans nowday...

+1

yeah I am like wtf when people are complaining the price of shares in the exchange   weren't we all given these sharecoins  

to those guys, their is no limitation if they can.earnoney....greety

Some people have been mining on the multipool, others bought on the exchange... I didn't know for example devs would keep 50% of all the income from exchange.

Are you an idiot too? ))

So what do you expect? For them to work their ass, make a perfect coin, an exchange and they should keep nothing from the exchange income.

Lol

No, I'm not idiot. I think it should have been stated in some way. On OP:

Revenues collected from Sharexcoin is divided into 100,000 parts, those parts are called FeeShares. There are only 100,000 FeeShares available.
Each FeeShare will give the FeeShare's holder 0.001% revenue from Sharexcoin. Dev team will keep 50% of them, allowing community to buy the other 50%.

The bold part is missing on the OP, it should have been added from the beginning and would have helped calculating the fair price for each ShareCoin. Needing 1 BILLION coins to buy the 50,000 FeeCoins available for the community when there is only 100 MILLION coins right now makes everything really hard to succeed in the way it's built.

Dev team, also earns money from the FeeShare sale. They are getting ShareCoins for every FeeCoin that they are selling after for BTC to the guys on the multipool.

Exchange fee is 1%, they get half so 0,50%. Other exchanges (Mintpal, Cryptsy, Poloniex) are taking at most 0,15%.

Did you bother making any calculations before calling me idiot? Do you really think they work for peanuts now?

Not well planned, sorry to tell you.

I totally agree with you bro. It should have been posted from the start or if this plan was came up in the middle of the distribution it should  have been posted also to inform us. Transparency is one of the key why a coin will be trusted.

The dev team have done a great job on this coin and they have many plans on this coin as well, I'm sure they will learn something on this.

[djm34]

this thread is very hot！I saw the moon ;DI predict price will reach 7000 satoshi-15000 satoshi in a month

yes, you can YY or you can yiyin...

haha
 

fly to da moooooooooooooooooooooooooooooooooooon

It will be sunned under this sharefee scheme

actually I didn't understand that part of the project...

I understand
Dev means that 100%fee=100000fee=1000BTC  1fee=20000sharecoin
So 1sharecoin=0.00000005BTC

He is greedy... (especially for an exchange which currently trade only one coin) Alcurex shares were not that pricey

[seek4dream]

Have somebody withdrawn BTC from sharexcoin? How long it took?

[Timeline]

Isn't everyone forgetting that there will be later a BTC/FeeShare market. This means that you can later get Feeshares most likely a lot cheaper than they are now at their fixed price at 20kshareCoins/1FeeShare.
Also it is possible that the feeshares will also earn revanue percentages from the gambling website and/or other upcoming businesses.

[melosine]

maybe the most important thing now is that the dev drops by and clears up some misunderstandings.

[leekua]

maybe the most important thing now is that the dev drops by and clears up some misunderstandings.

+1

[AcidReniX]

Here's a summary of the issues:

1) We need tradeable FeeShares.

2) We need a lower price on FeeShares or ShareCoins need to devalue before FeeShares become viable (something no one here wants).

3) We need to address how the ShareCoins used for purchasing FeeShares are going back into the system (in detail).

---------------------------------------------

Let's pretend ShareCoin does not exist and the owners of an exchange offer us this deal:

"If you pay us 0.06 BTC, we will give you 0.001% of our exchange profits."
So to get my 0.06 BTC back, the exchange must make 6000 BTC in profit.

It's not a very attractive investment that is going to build the hype needed for this new exchange to thrive. How much do we realistically think this exchange is going to make and how long will it take? To get my investment up to 1 BTC, the exchange would need to make around 100,000 BTC profit (or $40,000,000 USD).

That 0.06 BTC I started with is the current cost of 20,000 ShareCoins, so it's the same deal.


You can't argue that "we got these coins for free", because I could go and sell the 65000 ShareCoins right now and get 0.2 BTC for them. For me to get 0.2 BTC back through the FreeShares, the exchange would need to make around 18,000 BTC in profit.

Anyway, Dev will probably be asleep right now, so I wouldn't panic sell your coins yet. I'm sure some changes will be made in the near future.

[djm34]

Isn't everyone forgetting that there will be later a BTC/FeeShare market. This means that you can later get Feeshares most likely a lot cheaper than they are now at their fixed price at 20kshareCoins/1FeeShare.
Also it is possible that the feeshares will also earn revanue percentages from the gambling website and/or other upcoming businesses.

except it sounds very shady... How an exchange could sell its own share on its own market place ?
Dev is mistaking shares and coins, and that's bad. So the day the FeeShare goes to 1 sat, dev goes bankrupt ?  right ?
(no or yes since its value is not based on anything at all... a share is supposed to represent the value of the exchange and should be
based on something more concrete than high hopes)

[YYmeans]

Well, everyone will get a reply when the dev getting up.
Let' be patient.
It is really expensive.

[djm34]

Well, everyone will get a reply when the dev getting up.
Let' be patient.
It is really expensive.

The price of the share should be based on the exchange assets.

so that's Sharecoin price + development cost invested in the exchange

[payyy]

maybe the most important thing now is that the dev drops by and clears up some misunderstandings.

dev,you'd better explain about this

[gaba]

Fixed Feeshares price at IPO  make no sense for me.

[newegggo]

guys, let me give u some calculations to cheer u up:

total sharecoin: 100,000,000
1feeshare=20,000sharecoin
total feeshare=100,000

assume I have 1,000,000 sharecoin, and keep it at shareXcoin forever, let us see what happen:
if dev sell 2.5%(5% is impossible since it will cost all sharecoin available) feeshare which is 2,500, dev get 50,000,000 and he will spread it among sharecoin holders in exchange, since I have 1million which is 2% percent of total(50million was in dev's hand), I will get 1,000,000.
so after first sale of 2.5%, I increased my sharecoin by 100%. after 20 times such sale, you can imagine how much sharecoin I will get.
in the above calculation, interest is not taken into account, but it doesn't change anything essential.

what does it mean?
It means your sharecoin is much undervalued by 1feeshare=20,000sharecoin, and you should never buy feeshare.

That is about right.


The bottom line is, by pricing Feeshares in Sharecoin, the dev. has given a yardstick measure by which to value Sharecoin, and that valuation is very low indeed. By actually giving this one objective measure (and there is no other), it puts a ceiling on the price,ensuring that Sharecoin will remain permanently low, unless the exchange gets to the size of (say) Cryptsy, or there is an alternative OBJECTIVE measure (which is not going to happen: virtually no coin has managed to tie it's price to a solid commodity).

very interesting analysis.
so i will just hold my sharecoin

[AcidReniX]

And yes, he's right. ShareCoins are far more valuable than FeeShares right now. That is going to be a problem as a lot of people are only interested in this coin / exchange because of the FeeShare aspect.

The coin itself is doing very well right now, but it is dropping in price because one of its major selling points is turning out to be pointless at the moment.

[buddynuno]

Isn't everyone forgetting that there will be later a BTC/FeeShare market. This means that you can later get Feeshares most likely a lot cheaper than they are now at their fixed price at 20kshareCoins/1FeeShare.
Also it is possible that the feeshares will also earn revanue percentages from the gambling website and/or other upcoming businesses.

except it sounds very shady... How an exchange could sell its own share on its own market place ?
Dev is mistaking shares and coins, and that's bad. So the day the FeeShare goes to 1 sat, dev goes bankrupt ?  right ?
(no or yes since its value is not based on anything at all... a share is supposed to represent the value of the exchange and should be
based on something more concrete than high hopes)

Dude FeeShares never go to 1 sat. Sharecoins can go to 1 satoshi and with Sharecoins you buy Feeshares. Feeshares are always going to be 1 feeshare/20k sharecoin ratio.
The Exchange will never go into bankruptcy as long they have 50% of the Feeshares and also they will be operational as long they have trade volume!

[newegggo]

if none of share holders buy feeshare, what will happen?

[JeffK]

if none of share holders buy feeshare, what will happen?

BOOOOOM