[ANN][CRYPT] CryptCoin x11 + PoS | P2P Anonymity | 0% Premine | Commander

[vidarh]

I am bringing a new level of speculation to this coin.  With the help of an investor, I am short selling CRYPT coins with a 0-90 day cover time.  The price on the coins will be 500,000 satoshis each.  I can either fill the orders by buying the coins or taking them from my own stock.

The way this works is, you will place an order with me now for X number of coins, at a price of 500,000 satoshis each.  Then that order is paid in full.  It is then agreed that I have up to 90 days to deliver the coins to you.  The risk for me and the gain for you is when the coin price rises, you end up making profit.  If the reverse happens, it is my risk and my loss.  

Either I'm badly misunderstanding you, or you're describing this really badly, or you're out of your mind and/or looking to fleece someone.

The current price on Cryptsy is <30,000 satoshi. There's no upside for anyone but you in entering into an arrangement like the one you appear to have described instead of simply buying in the market. While you *could* of course take the risk of waiting for a further drop, you could also turn right around and buy. Even if the volume is high and you end up driving the price up to, say 50,000 the contract you outline would give you a 10x return overnight with very low risk.

Setting a long time to cover in this scenario only makes sense if the intent is to make people think you're taking a risk, as the "risk" for you is that the price rises over 500,000 satoshi from you receive the funds from a customer and until you manage to turn around and buy to cover. Given the massive spread between the market price and the price you state, that risk is miniscule, given that you could turn right around and buy even fairly large volumes in minutes and still get a crazy margin.

For this contract to make *any* sense for anyone but you, the price needs to be lower than the current market price, to reflect the increased risk a buyer takes over buying directly in the market.

Did you shift a decimal point?

[damiano]

Latium coin. hmmm sounds quite ok...

 http://latium.cc/?a_aid=53b87c5c83d1e

stop spamming this shit in all these threads

that coin is shit

[timk225]

My examples of cover times in 15 day increments are only for example purposes.  We could make it 11 days, 27 days, 31 hours and 15 minutes, etc.  Whatever amount of time the buyer / investor wants it to be.  

I also understand the skepticism on the side of me getting the BTC payment first.  Short of escrow, all I can say for that is that I have thought out this plan and I know it can work out very well.  And irrespective of the amount I pay for the coins to fill the order, when the coin price goes above the buyer's cover price they still make a nice profit.

The cover price is also flexible, and was stated as 500,000 satoshis for illustration in this example.  We can make it 300,000, 400,000, 650,000, whatever.

I'm the one who is taking the responsibility of delivering to the customer the agreed on amount of coins, and my investor has enough resources to make it happen.  My worst case risk is that I end up owing him if the coin price skyrockets overnight while I'm in bed.

[AltCoinGuy]

My examples of cover times in 15 day increments are only for example purposes.  We could make it 11 days, 27 days, 31 hours and 15 minutes, etc.  Whatever amount of time the buyer / investor wants it to be.  

I also understand the skepticism on the side of me getting the BTC payment first.  Short of escrow, all I can say for that is that I have thought out this plan and I know it can work out very well.  And irrespective of the amount I pay for the coins to fill the order, when the coin price goes above the buyer's cover price they still make a nice profit.

The cover price is also flexible, and was stated as 500,000 satoshis for illustration in this example.  We can make it 300,000, 400,000, 650,000, whatever.

I'm the one who is taking the responsibility of delivering to the customer the agreed on amount of coins, and my investor has enough resources to make it happen.  My worst case risk is that I end up owing him if the coin price skyrockets overnight while I'm in bed.

You are asking people to bet on the price of crypt, and on you...  People can buy cryptcoins now, and have a safer bet, than what your offering, and they don't have to take the extra risk of betting on you.

[timk225]

Not entirely.  If someone arranges to buy from me at X satoshis per, and the price of CRYPT blasts way over that price right after, then I could conceivably end up paying MORE for the coins than what they do.  Then they have coins they essentially got at a discounted price, and I would be the one paying out the ass for them.

See the benefits now?

[vidarh]

Not entirely.  If someone arranges to buy from me at X satoshis per, and the price of CRYPT blasts way over that price right after, then I could conceivably end up paying MORE for the coins than what they do.  Then they have coins they essentially got at a discounted price, and I would be the one paying out the ass for them.

See the benefits now?

No, we don't see the benefits now, because it is essentially handing you free money, since nothing stops you from covering instantly, so you are proposing a ridiculous markup for a risk window that could be as low as minutes depending on how you structure the deal.

The amount of time the contract gives you to cover is pretty much irrelevant with the insane example markups you're suggesting.

It makes no sense for anyone to pay you _anything_ more than the market rate, instead of simply buying at the market rate. In fact, it would be more reasonable if you offered below current market rates, given that people take the risk that you will prove *unable* to cover, and there is no benefit for them in taking the deal unless they'll pay less than buying in the open market right now.

And your claim that they'd essentially get the coins at a discounted price is simply nonsense - if your price is higher than the current market rate, and the price goes above your price, then people would get an even greater discount by just buying at the market rate now. Less risk, lower cost.

[timk225]

Dammit vidarh, you're blowing my plan!  I was hoping I could bullshit someone into thinking they got the most fantastic deal ever, while making a fair 470,000 satoshi per coin profit for myself.

Some of my schemes would work better if the other people involved were dumber.

Oh well, it was worth a try!   

[IceJelly]

Dammit vidarh, you're blowing my plan!  I was hoping I could bullshit someone into thinking they got the most fantastic deal ever, while making a fair 470,000 satoshi per coin profit for myself.

Some of my schemes would work better if the other people involved were dumber.

Oh well, it was worth a try!   

No. It wasn't.

[AltCoinGuy]

Dammit vidarh, you're blowing my plan!  I was hoping I could bullshit someone into thinking they got the most fantastic deal ever, while making a fair 470,000 satoshi per coin profit for myself.

Some of my schemes would work better if the other people involved were dumber.

Oh well, it was worth a try!   

Well well, Sr. Member ..  Scamming scum you are.. What's the matter ? Can't make a profit trading ?

[verbalxbadways]

Cant a guy make a joke???

[timk225]

Liberals are scammers.  I'm a republican.  I'm a con man if anything!  

[dubiousfrog]

Saw this today: "The amount of energy necessary to refute bullshit is an order of magnitude bigger than to produce it."

buying / hodling crypt, yes plz!

[IrReAr]

No news about ETA or how much time we have to wait till release?Anything from mindfox about development stage?

[CryptoWyS]

idling irc is your best source of news.  mindfox pops on occasionally.

the general consensus is something is brewing.

as far as i am aware he is focusing on actually working, rather than hyping rumor news etc.

In general if a dev sets a deadline and misses it a shitstorm ensues.  So in this case no news is good news.

Also if its a ninja news release, there is no buy on rumor sell on news bs that you usually see.  If the features are genuinely good we should see a nice spike in buys and thus price.

Cheap as chips now.

[googs84]

Good points! We should hear some good things shortly. There is a lot in the works hope its as great as whats being said.

[IrReAr]

We are not asking for eta like - 08.07.2014 19 GMT. Just "I'm about to finish everything, news will be in next several days/this week". Or "I need another 5-10 days to finish all."

[CryptoWyS]

We are not asking for eta like - 08.07.2014 19 GMT. Just "I'm about to finish everything, news will be in next several days/this week". Or "I need another 5-10 days to finish all."

Yes, but even this fuels the buy on rumor sell on news which we dont need.

The coin is holding at 30k with silence.

You can see from the chart that coins are being accumulated and the price suppressed.  Every decent chunk being bought (0.1 btc+) is being matched by a tiny chip sell to lower the price to where it was bought at.

If they announced "all will be sorted in a week", we would see a steady rise up until the news where it would be dumped, hard.   

The way things are being done is how it should be done and those that are holding shouldn't be panicking.

I bought at 80k cos i saw the potential.  then came the fud.  then the price tanked.  I didn't shit my self or come moaning for updates or whatever.  I bought up coins all the way down to average down my overall buy in.

I have a fair amount riding on this and i'm not at all worried.  Which is odd.

But as always #DYOR and follow your gut.

[googs84]

The way this coin has been holding even after the FUD a few weeks ago and the fudders currently on here should show support. Its has got to the point that we must wait for news. If there isn't any Fudders win but when there is news about the developments it will show the wait was totally worth it.

[LostWind]

Anyway,i still think crypt is a good coin!

[hexagram]

HOLDING!!!