[ANN][FAIR] FairCoin - for a fair economy, featuring proof-of-cooperation

[witten01]

well it definitly put the wheels in motion.
value is dropping fast

[doremi]

the mistake started with when the price of getfaircoin drop from 1eu/14 to 1/16...not to mention it drop the further 2 times 1/18 and now 1/20..this is why chain reaction begin.

[Anduril_FotW]

well it definitly put the wheels in motion.
value is dropping fast

Value is not dropping, order book just needs to be refilled.
That's the probem with low volumes, it gives the impression that price is at a certain level, while nobody is actually willing to buy/ sell at that level.
I hope we will have some better volumes soon. I really think that's where it should start.
So i still say we should use some of the Faircoop funds to buy ourselves into some more big exchanges.

[Sebastien256]

I think the drop may come from coinomat's crypto index. Faircoin is not list anymore in the index. That would explain the dump tho.

[smartaction]

I think the drop may come from coinomat's crypto index. Faircoin is not list anymore in the index. That would explain the dump tho.

I dont think that the index had time to buy up, a big amount in so few time
Otherwise if the way to do for the index is dumping, users of the index are not going to get a good result...

[witten01]

and still going down hard.

[ninjaskip]

I think the drop may come from coinomat's crypto index. Faircoin is not list anymore in the index. That would explain the dump tho.

The drop is coming mainly from short term traders, seeing that there was no profit to be made in a short term they moved on to another coin.

I have been following Vert coin since the start, a few weeks ago it was on 100k market cap, just now is up on 6million market cap.

Is a coin good for nothing, but due to the massive and slow pump then people are dumping fairs to try and make a profit on that for example.

This is good news for us, the ones that believe in Faircoin on a long term.

[Zombie123]

The drop is also coming from some people who took advantage of getfaircoin and helped this "pump" they bought in large quantities and now bailing out. I hope this time we create some buy support and not just kill sell walls. We can tell getfaircoin buyers to wait to get coins or sell it by using a Loan from some member.

[smartaction]

We can tell getfaircoin buyers to wait to get coins or sell it by using a Loan from some member.

Could you explain further how would work that proposal?

[smartaction]

I think the drop may come from coinomat's crypto index. Faircoin is not list anymore in the index. That would explain the dump tho.

The drop is coming mainly from short term traders, seeing that there was no profit to be made in a short term they moved on to another coin.

I have been following Vert coin since the start, a few weeks ago it was on 100k market cap, just now is up on 6million market cap.

Is a coin good for nothing, but due to the massive and slow pump then people are dumping fairs to try and make a profit on that for example.

This is good news for us, the ones that believe in Faircoin on a long term.

Yes, sure that is better for long term.  only imagine if we prefer to makee all this buys right now at 10.000/15000 or 35000/40000, sure that is cheaper, get that sells lower   

[Zombie123]

We can tell getfaircoin buyers to wait to get coins or sell it by using a Loan from some member.

Could you explain further how would work that proposal?

So Suppose I have 300K faircoin. Another member has 200K faircoin. We commit that we will sell at current getfaircoin price decided by coop. so we have 500K committed and instead of buying from bitterex and raising the price so much you can ask one of the members to sell his faircoin. The member gets the benifit of selling large quantity without creating a downward spiral on Bitterex. Just a suggestion Just like creating a reserve for getfaircoin when needed

[ShopemNL]

We can tell getfaircoin buyers to wait to get coins or sell it by using a Loan from some member.

Could you explain further how would work that proposal?

So Suppose I have 300K faircoin. Another member has 200K faircoin. We commit that we will sell at current getfaircoin price decided by coop. so we have 500K committed and instead of buying from bitterex and raising the price so much you can ask one of the members to sell his faircoin. The member gets the benifit of selling large quantity without creating a downward spiral on Bitterex. Just a suggestion Just like creating a reserve for getfaircoin when needed

getfaircoin already buys all the coins spent On Bitbill.eu so we dont have to sell them at bittrex.

This works much nicer then selling on bittrex!

[Zombie123]

We can tell getfaircoin buyers to wait to get coins or sell it by using a Loan from some member.

Could you explain further how would work that proposal?

So Suppose I have 300K faircoin. Another member has 200K faircoin. We commit that we will sell at current getfaircoin price decided by coop. so we have 500K committed and instead of buying from bitterex and raising the price so much you can ask one of the members to sell his faircoin. The member gets the benifit of selling large quantity without creating a downward spiral on Bitterex. Just a suggestion Just like creating a reserve for getfaircoin when needed

getfaircoin already buys all the coins spent On Bitbill.eu so we dont have to sell them at bittrex.

This works much nicer then selling on bittrex!

Thats Great. But I guess that was not enough when price rose dramatically. Also in asking members there is no harm Unless there is a need to raise price on bitterex.

[witten01]

We can tell getfaircoin buyers to wait to get coins or sell it by using a Loan from some member.

Could you explain further how would work that proposal?

So Suppose I have 300K faircoin. Another member has 200K faircoin. We commit that we will sell at current getfaircoin price decided by coop. so we have 500K committed and instead of buying from bitterex and raising the price so much you can ask one of the members to sell his faircoin. The member gets the benifit of selling large quantity without creating a downward spiral on Bitterex. Just a suggestion Just like creating a reserve for getfaircoin when needed

getfaircoin already buys all the coins spent On Bitbill.eu so we dont have to sell them at bittrex.

This works much nicer then selling on bittrex!

that is great.
I think its the future of the coin (and any coin) when its not solely traded on exchange sites but has a real market for it.
However that exchange site is an ,and the only, indicator of value determined by the people who own or want to own the coin.
Otherwise how is the value determined?

[smartaction]

We can tell getfaircoin buyers to wait to get coins or sell it by using a Loan from some member.

Could you explain further how would work that proposal?

So Suppose I have 300K faircoin. Another member has 200K faircoin. We commit that we will sell at current getfaircoin price decided by coop. so we have 500K committed and instead of buying from bitterex and raising the price so much you can ask one of the members to sell his faircoin. The member gets the benifit of selling large quantity without creating a downward spiral on Bitterex. Just a suggestion Just like creating a reserve for getfaircoin when needed

Ok, I see. is similar idea, that comes with the liquidity fund related Coopshares.net
Where there are money (both in euros and faircoin) available on the market for big buys and sells.

Both can be done together, So when people with big stake wants to sell, can share this information with getfaircoin (related price or time you wants to sell), that lets also ways to go in with big ammounts, without disturbing the market price so much.

[Sebastien256]

I think one problem is the following.

bitbill 1eur=55 fair
getfaircoin 1eur=20 fair

Why the difference so high?

[smartaction]

I think one problem is the following.

bitbill 1eur=55 fair
getfaircoin 1eur=20 fair

Why the difference so high?

In bitbill you only  can sell faircoin in getfaircoin you only can buy.

More than that getfaircoin already down the price two times this week and we are not going to repeat...
We saw how down the price was followed by dumps in bitttrex, so we are not going to leave this chain continue like this...

[ShopemNL]

I think one problem is the following.

bitbill 1eur=55 fair
getfaircoin 1eur=20 fair

Why the difference so high?

Because on BitBill you pay 1% + 0.95€ transaction cost. So 1€ is actually 2€ but for a transaction of lets say 200€ you pay 202.95€

[Sebastien256]

I think one problem is the following.

bitbill 1eur=55 fair
getfaircoin 1eur=20 fair

Why the difference so high?

Because on BitBill you pay 1% + 0.95€ transaction cost. So 1€ is actually 2€ but for a transaction of lets say 200€ you pay 202.95€

Well try with 1000eur and you get the same rate.

[ShopemNL]

I think one problem is the following.

bitbill 1eur=55 fair
getfaircoin 1eur=20 fair

Why the difference so high?

Because on BitBill you pay 1% + 0.95€ transaction cost. So 1€ is actually 2€ but for a transaction of lets say 200€ you pay 202.95€

Well try with 1000eur and you get the same rate.

I see litepaid changed his prices because of the big dump today.

Faircoin € 0.01928016 = price atm, yesterday it was Faircoin € 0.033