[ANN] [SIL] Silvercoin

[imtom]

Very hard to find a good to mine this days  

[Earthgiver]

omg seriously??

First of all crypto backed by goods is pretty much going against everything crypto stands for! Now the coin can be manipulated by market and government... way to go!

Second, 94% pre-mine? really? you do realize how ludicrous this is right?

Third, stop playing with your imagination? WTF?? without imagination, crypto wouldn't have happened!

Seriously, you obviously have no idea what you are talking about, i am not being offensive. please check out my Q&A, i answer the question about decentralization. And please let me know how you would back this with out a pre-mine. i am really interested in how that would work. Coins are already manipulated by the market. and I am not the government so not sure you issue here.

We buy silvercoin from you, you use that money to buy real silver and stash it somewhere, at any moment we feel like cashing out, we send you silvercoin and you send us silver. That's pretty much the idea.

In this concept, we'll need to know who you are, where you live, where your store/office is, a legal contract stating your business model. Without that we can't sue you if you just decide to say "fuck it" and run with the money. An actual legal entity needs to be responsible for this otherwise it's just a scam. Now if you are now in business of buying and selling silver, you need to pay taxes and shit. Also you need to ship us the silver when we cash out, shipping costs will be expensive, you know how heavy silver is.

So now you have all those expensive cost and fees, I'm not paying for it, what a waste of money. I'm sure you don'T want to pay for it either. So how are you suppose to make a 2-5% return a year again? Specially if the price of silver goes down? Don't forget your guaranteed that return.

So tell me again why I have no clue what I'm talking about?

no you do not get silver, you get money. And you do this everyday with other coins. if they say oh well and walk away your in the same place but you don't have a issue with that. see this is the problem all of those questions are answered in my q&a section as stated above. every coin you invest in you are taking a risk and there are coins out there that cost a whole lot more than mine. but i am assuming you buy them anyway. did you try to beat down their idea when they launched it. I am figuring probably not. thanks for you input.

[delphs]

Well, I'm glad to see the community welcoming this idea with open arms

unfortunately, we live in a time of scams and not innovation. Random claim can't be make without proper inspection and transparency is needed in multiple cases.

My main complaints aren't that the idea has no merit but the lack of information, planning, explanation and expectation makes it look like the worst possible investment.

i did state above that there is more information on the website in the Q&A section. Please feel free to look there for more information. If you have any other questions as stated in the Q&A section feel free to email me. And i can tell you that there has been a lot of planning involved. We have worked on the implementation of this for almost a year before we ever decided to build a coin. And during that time the coin building processed changed ten different times. There can be a million questions asked and answered. It is just going to take seeing it in motion when we have the first depository Audit preformed and then people are going to realize that it is all what it is said to be. We were not unprepared for the bitcoin addicts  to bash it or the nonbelivers to question it. I have been in business for many years. When you bring something new to the table the first time everyone is a skeptic. thanks for your input  

I when on the site and the Q&A... the site is a store which is shouldn't... the coin should have it's own site independently fro a store front. and the Q&A has ZERO information about the coin, just random statement about real silver.

Your ANN has this: " I am not talking about imaginary 100% returns from an imaginary POS coin. Real returns with real .999 silver." and your Q&A says "
Can I have the silver sent to me? No, There are so many rules on what you can and can't do with silver and what creates difficult Tax hurdles."

This kind of stuff is why people complain, it's incomprehensible.

[Earthgiver]

Yeah man, I'm not feeling it either with the HUGE premine and yet another brand new account.

Do love the graphics though:-)

thanks did them myself  , I am sure you can understand that it would be impossible to back a coin with out pre-mining it. But glad you dropped in.

For sure, can definitely understand the need for premine at times, but can't wrap my head around the amount on this one!

ok lets say i don't pre-mine the coin. how will it be backed? is each person that mines a coin going to turn around and buy silver from the mint to back what they have mined? Of course not. It is difficult i know we worked on how this process was going to work out for a very long time before we even thought of building a coin. but in premining the coins I am able to back each coin that enters the market. All the coins will enter the market. SO for every coin there is silver and that is what gives it backing and value. there is no other way to make sure the coins are backed unless we distribute them. So on your end it is no different really , you do the same thing as you do with other coins buy sell trade play. but as silver goes up and down so does your coins value. we are supposed to see a bull market on silver in the next few years and if that occurs we all make money. every coin you buy is a risk. i am not going to say that silver cant drop below 15 dollars an oz and we lose. but we also cant say that othercoin over there isn't going to be worthless tomorrow either. what do you think people felt when bitcoin fell 600 dollars almost over night. my point is everything is a risk yes even silvercoin. but silver holds pretty well and anyone in the precious metals "know" will tell you it is undervalued and we are do for a run on the bull market in the near future. hope that helps. thanks

[Earthgiver]

I do find it amazing that we are having issues with the fact that this coin is pre-mined. If anyone who has quoted the pre-mine amount had some comprehension of what is going on here, the issue as it were would not be an issue. but that is the problem with something new. people will fight to understand it or opt not to understand it at all. You can not back a coin without pre-mining it. you can not back something unless you HAVE it first. It is really not that complicated. The other part of the problem would be very few people have even read above. they log in look at the pre-mine and wig out. little do they realize what this coin is or the amount of money they can make by owning it. before you post at least read what the coin is. If you are ranting about pre-mine it simply means you don't get it.

Where have you been the passed two months?

Sadly even tho I believe a slight premine is required to maintain the coin, 94% is just too high. The potential of scam is way to risky given the current situation in altcoin industry. Also the claims made by the devs are pretty much loose, see below..

How can the dev claim the coin is worth 2.X $? "It's back by silved" or so he says.. It's not  even being circulated yet, and AFAIK I don't think the developper bought enough silver to back this up.. a total of 120 000 000 coins at 2­.83$/coin would mean there needs to be 339,600,000$ worth of silver to back this one up.. nonsense.


PS: By the way you have 7 posts.. I think you are the one that have no comprehension of what is going on here..

I am not going to go back and forth on this. you don't have to like the idea, i am cool with that. but you dont understand the premine and you don't understand the how the coins are given out or how the silver is aquired. and by your p.s comment i can see you have nothing better to do than than spend time trolling. haters gonna hate bro. If you had thought of it , it would have been awesome. But .. you didn't. 

[BTMan]

just a joke.

[BTMan]

just a joke.

120,000,000 coins
113,150,000 pre-mined for step distribution

[louiseth1]

I am not going to go back and forth on this. you don't have to like the idea, i am cool with that. but you dont understand the premine and you don't understand the how the coins are given out or how the silver is aquired. and by your p.s comment i can see you have nothing better to do than than spend time trolling. haters gonna hate bro. If you had thought of it , it would have been awesome. But .. you didn't.  

Lol, how can YOU determine your coin is worth 2.86 with a 120 million cap? that would be over 340 millions $ market cap total worth..

This market is a free economy, and the value of a coin is determined at which rate are people willing to buy it for not because you say its 2.86$..

And as for the backing, it's backed by WHAT exactly? What wealth is being possessed to transpose it to a currency in order for it to be "backed"?

[portice]

Not sure if serious

Need an escrow and ALOT more info for something like this to happen.

[TheStuhlman]

You did not see what happened to the URO investors?

Here is a reminder....

[fish731]

So here is how the pre-mine and distribution works

3,000,000 games and giveaways

What giveaways?

[TheStuhlman]

I am not going to go back and forth on this. you don't have to like the idea, i am cool with that. but you dont understand the premine and you don't understand the how the coins are given out or how the silver is aquired. and by your p.s comment i can see you have nothing better to do than than spend time trolling. haters gonna hate bro. If you had thought of it , it would have been awesome. But .. you didn't.  

Lol, how can YOU determine your coin is worth 2.86 with a 120 million cap? that would be over 340 millions $ market cap total worth..

This market is a free economy, and the value of a coin is determined at which rate are people willing to buy it for not because you say its 2.86$..

And as for the backing, it's backed by WHAT exactly? What wealth is being possessed to transpose it to a currency in order for it to be "backed"?

You do not know how this works ? he will sell 113 million coins for 323 million dollars on Bittrex and buy silver with it to back up the bagholders.
One thing is worrying me though, Richie might decide to keep the 323 million dollars and close shop and flee.

[louiseth1]

I am not going to go back and forth on this. you don't have to like the idea, i am cool with that. but you dont understand the premine and you don't understand the how the coins are given out or how the silver is aquired. and by your p.s comment i can see you have nothing better to do than than spend time trolling. haters gonna hate bro. If you had thought of it , it would have been awesome. But .. you didn't.  

Lol, how can YOU determine your coin is worth 2.86 with a 120 million cap? that would be over 340 millions $ market cap total worth..

This market is a free economy, and the value of a coin is determined at which rate are people willing to buy it for not because you say its 2.86$..

And as for the backing, it's backed by WHAT exactly? What wealth is being possessed to transpose it to a currency in order for it to be "backed"?

You do not know how this works ? he will sell 113 million coins for 323 million dollars on Bittrex and buy silver with it to back up the bagholders.
One thing is worrying me though, Richie might decide to keep the 323 million dollars and close shop and flee.

Would make more logic for all these "investors" to just go buy straight silver on coaex or whatever else website that accepts BTC payments for silver, and it's solved! You get silver, you own it in your own hands, and you ain't risking anything.

[helloword2013]

你懂得
you known!

[Earthgiver]

I am not going to go back and forth on this. you don't have to like the idea, i am cool with that. but you dont understand the premine and you don't understand the how the coins are given out or how the silver is aquired. and by your p.s comment i can see you have nothing better to do than than spend time trolling. haters gonna hate bro. If you had thought of it , it would have been awesome. But .. you didn't.  

Lol, how can YOU determine your coin is worth 2.86 with a 120 million cap? that would be over 340 millions $ market cap total worth..

This market is a free economy, and the value of a coin is determined at which rate are people willing to buy it for not because you say its 2.86$..

And as for the backing, it's backed by WHAT exactly? What wealth is being possessed to transpose it to a currency in order for it to be "backed"?

You do not know how this works ? he will sell 113 million coins for 323 million dollars on Bittrex and buy silver with it to back up the bagholders.
One thing is worrying me though, Richie might decide to keep the 323 million dollars and close shop and flee.

That may be the first valid argument i have heard all night. lol. however two things. you take the same risk investing in every other altcoin, your money could disappear overnight. It has happened but that is the risk we all take. Now i am not holding that much silver in my closet. It will be held at a depository and there are third party audits to verify holdings every quarter. yes i could disperse silver coins but we would have to charge alot more money per coin for shipping and handling and then if you ever decided to cash out you would have to pay capitol gains tax of between 15% and 35% .As Silvercoin you don't have all of the fore mentioned issues. you are simply holding a crypto-currency. If you pay $7 for litecoin and you buy 1000 of them, you are vested $7000 right that's it. If it falls overnight and is only worth $2 (which i hope never happens) you are out $5000 dollars. The risk is not any different. Are you going to go and ask someone at light coin for a refund on your loss. It does not benefit me for this not to play out for the rest of my life, i am already invested in silver i need the market to climb the more we buy the more we assist a bull market in happening. At any point you can sell back your coin(s) and we will have to sell back silver. It is an ebb and flow, to think that there is going to be 340 million sitting in a vault. i don't see that things come up people need money. if/when silver does climb people are going to sell. A bull market won't last forever expectation is 5 to 10 years when it occurs. however at the end of the day your risk is still not any different than any other coin.

[sunnyxiong]

really stupid.
that means dev got all sliver all of the world .

[Earthgiver]

really stupid.
that means dev got all sliver all of the world .

well i could write a long impromptu story to prove your wrong. But i was reading your comment again as i started to type this, and i don't think you would understand it if i did.   

[ivanst776]

back by silver
How many millions would need

[Vlad2Vlad]

back by silver
How many millions would need

Seriously, backed by silver?

Great concept but people would need to see some verifiable proof of that. "Proof of Bullion"?  Haha?

Good luck!

[Earthgiver]

back by silver
How many millions would need

thanks, actually that is what the audit reports are for. third party auditors when they finish the report is sent direct from the depository.

Seriously, backed by silver?

Great concept but people would need to see some verifiable proof of that. "Proof of Bullion"?  Haha?

Good luck!