[OLD][CSC]CasinoCoin ♠ A Digital Currency For The Regulated Online Gaming Sector

I would like to clarify one thing for everybody. The price run up over several months that resulted in a peak price of about 38k sat was due to accumulation by various people in preparation for the various casino ventures. Once they had accumulated the amount of coins that they desired, they stopped buying. From that point forward the price deteriorated because buy support declined and could not support the miners that were bringing 20k+ coins per day to market. With the price declines and delays, we also saw instances where outside people who had bought coins decided to reduce their CSC holdings from time to time.

The people that bought the coins during the runup are still holding and they probably control more than 80% of the coin supply at this point. Those investors will continue to be long term holders and are targeting profits in the tens of millions of dollars over the next 2 - 3 years on their business that utilize CSC and not just speculating on a runup in the price of the coin. The recent move to reduce the block reward was executed in order to reduce the daily selling pressure from miners who autosell for BTC, to reward those who have been accumulating by creating some price stability at the lower end, and to also ensure that miners will be incentivized to participate in the coin for the next 30 years. Andre called it when he pointed out that it was this or CSC started possibly carrying prohibitive fees to process transactions.

Now given all that, I find it absurd that we have people complaining pugilistically about the price and the devs when they have only been involved since January and maybe hold $200 worth of coins. This is an absolute joke. We have several partners that since last year have put cumulatively several hundred thousand dollars into accumulating coins in preparation for their projects. Every one of them is ecstatic about the recent block reward reduction and their progress on their CSC projects. Not one of them has complained to us about the recent changes. If anything, they have only indicated that they don't want to participate in the BTCT board because they believe a discussion here would not likely be a constructive exercise and would result in more distraction than anything.

You should keep in mind that the people who invested several hundred thousand dollars into accumulating coins over the past year aren't stupid people. They have seen the price decline and it honestly doesn't bother them at all. They are pretty confident that their future profits from the coin and their businesses will completely justify riding out period when the price has declined significantly.

You should also keep in mind that these same people break the block reward situation down in these terms:

With 20k coins coming to market each day, it would have taken 2 BTC each day to absorb that downward pressure at a price of 10k sat. That was a very unsustainable position to be in. At 2000 coins per day, it's a much more reasonable 0.2 BTC to absorb the same type of selling activity. WIth a $650 BTC, $130/day or $47,450/year would be needed to keep the coin balanced and gives the buy and sell sides and equal opportunity to push in either direction. That's much better than needing $1300 or $474.5k/year. The last year was all about accumulating coins, reducing liquidity, reducing the downward pressure on the coin from miners who would cannibalize CSC upticks, and ultimately paving the way for successful launches of several multi-million dollar online gambling projects.

Everything we've been doing for the past 2.5 years has been to create an environment for this coin that makes it possible to get these types of projects off the ground using CSC. The guys behind these projects are the ones that will get this coins to $1, $5, or whatever. It's not a handful of miners who hop on the coin, autosell for BTC, and run off that will get you to $1, $5, or whatever. Only place they will take you is to 0.