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Show HN: A cryptocurrency that can automatically re-launch itself on-chain
- kikokikokiko 4y agoSo the basic idea is to programmatically set a "floor price" at every revival, and penalize everyone that sells their tokens at a price lower than this "floor" in 50%... So it's a ponzi scheme down to the core, the rules of the "smart" contract itself try to enforce it. Every time I think the crypto world can't get more scammy I'm always, always wrong.
- kaizoku111 4y agoSorry not my project but it seems how it works is that when there an ATH, the price floor is set 80% of the ATH. People can still sell, and it protects investors money, for those that are in for the long term.
- kikokikokiko 4y agoIn the long term for what exactly? For the price to keep "going higher and higher"? It's just a ponzi, stay away dude.
- gus_massa 4y ago> Sorry not my project From https://news.ycombinator.com/showhn.html https://news.ycombinator.com/showhn.html > Show HN > Show HN is for something you've made that other people can play with. HN users can try it out, give you feedback, and ask questions in the thread. > The project must be something you've worked on personally and which you're around to discuss.
- gus_massa 4y agoSo, it the price of the coin is going down 60%, I'm not only lose the 60% but also a additional 20%! And if the buyer resells the coin, s/he will get a 50% penalty unless the price increased enough. When this coin crashes, it will crash extra super fast and set a new record.