The problem obvious is the high stake % and the coin is only a few weeks old. If i buy 100k today at the end of the month i should have 200k in theory so if price keeps the same i would have 100% profit...
So basically this means price will go down way lower as sell pressure will increase every day. Some small multipools arent going to stop that.
Just my point of view though..please correct me if what i said is wrong..
you should have 200k + by the 4th day
Ah ok. But the point is the same. The sell side will be huge over time while the demand will be close to zero as nobody needs to buy as they get thousands of coins for free by just staking..
The only reason why it still has some value is because people who dont have coins yet try to buy some. And its like a snowball effect. The more free staked coins get sold the lower the price gets and the more people can buy which is followed by even more staked coins.
And even if people dont sell, then they keep on staking and there will be so many coins that nobody wants to buy them...
So lets assume it goes to 100sat, then you can buy 1 million coins which you can double fast...and once you sell the million free coins you got from staking, then you probably eat the whole orderbook...just with 1btc... and you can do it over and over again.
So only road is the road to 1sat...its just common sense...cant really make much more of it...
Greetings,
Thank you as the community appreciates your insight.
All of what you said may very well be true but
who you or i to say the multipool as it grows in size
jus may be on the path of your favorite altcoin. 1oK
market has a constant appetite for bitcoins and
why shouldnt the resources come from other
alts, especially in the absence of buying pressure.
views that were shared in earlier posts about
1oK + multipool as a system is a very smart idea &
its one that could possibly benefit investors
and create a greater incentive to hold and stake longer.
please remember 1oK is a working "Experiment"
in progress, jus incase you weren't aware there been value input from the community about the
possibile uses for 1oK and the dev is open to ideas.
I agree 1oK may not be for everyone.
P2P360