I've been studying this coin called corion currently in ico but very low profile It seems really good in fact maybe to go to be true The coins always stays at $1 us and earns you 0-2.5% daily in more coins So the worst that can happen is you have no earnings I'm supprised no one is pouncing on this coin I'm contemplating wether I should take the leap in this coin it's still in early ico with a 20% bonus, even in ico it earns .2% daily Anyone have any solid advice or info highly appreciated
I've just had a read through the business whitepaper. Some interesting things to note :- 1. The coin is being launched on Ethereum Classic, not Ethereum 2. They are trying to make a stable coin by keeping 25% of raised ICO funds and 29% of the reserved coin supply to effectively perform the function of "Exchange Stabilisation Fund" to keep the coins price at $1 USD 3. They are using daily coin payout of 0 to 2.5% as a price reduction mechanism 4. They are using transaction fee destruction (in coins) as a price increase mechanism 5. They are using game theory/voting mechanism about price being above/below $1 USD every 3 hours to determine whether to rely on price reduction/increase mechanism. Reward for voting correctly comes from transaction fees (20%) 6. They have a Service Provider mechanism that looks a bit like setting up a Masternode, but gets credit for linked wallets (of clients to Service Provider) and it's own internal coin distribution/reward mechanism determined by each individual Service Provider. It looks very interesting though I am sceptical about it as well. The key selling point (compared to other cryptos) is the potential price stability for businesses to have some confidence in the coins price, therefore the key factor in it's success or failure to my eye is whether the stabilisation fund and the price reduction/increase voting mechanism is effective in keeping the price around $1 USD. The question to be asked is, what happens if the price drops and the 25% of raised ICO funds is burnt up trying to prop up the price? Do they then rely solely on transaction fee destruction to increase scarcity and prop the price? Does the coin fail at this point? If so, there is some ponzi/pyramid qualities here to be aware of and a typical crypto pump-and-dump could break the stabilisation mechanisms. It is certainly interesting. One to keep an eye on perhaps.
good point It's got potential though with the bip148 for instance you can just transfer all you bitcoin to corion and ride it out But yeah the elephant in the room is mainting the price at $1us
That's what I'm wondering though. If it IS a stable currency it would be a better cash out option than Tether when Bitcoin or other cryptos experience a flight to safety.... ...but that would affect Corion in a bad way when the Bitcoin panic was over and funds started flooding back out of Corion. It'd drop the price below $1 USD, payouts would stop and maybe even the reserves would be hit. Just have a look at how the Tether price has fluctuated either side of $1 USD in the last few weeks.
If you are looking at ico's have a bo peep at dao.casino perhaps? presale 29/6. Your thoughts bugged?
Cheers. I am a bit out of time today but if I remember I will next week. It certainly has a similar appeal. When you look behind it though, to rely on a fiat based stabilisation fund it is bit different than hard fiat redemption from a full reserve.
This is the reply I got from corion check our webpage the countet is telling you how many days hoirs left from the actual bonus. And if we run out of money, then the system have to adjust on its own. Please understand that even the Foundation is out of the picture, the system will be able to balance the price back to 1 usd, it will only take more time! But believe me, we will do our work after the ICO as well and people will not dump that much that we can not handle! Our project is much more valuable then you think. Ps I'm in Dao casino I got in wagerr as well it's time to be on the houses side
Reading up on this a bit more. Came across this interesting discussion :- https://www.reddit.com/r/EthereumCl...tc_ico_corioneio_may_be_a_scam_picture_proof/ I'm still a bit on the fence. I am intrigued by the concept and reckon it could be great if it works. Risk is in the implementation and governance.
I think I'll pass on this doesn't seem to be solid enough After missing tenx even though I was sending in the first second I floated my ether to nvo and oax Not solid enough imo since there is so many good icos atm
Nvo more of a impulse but seems to be solid im liking oax though Have a look at oax buggedout if you want I think it's got a lot of potential
Well right now I think OAX is interesting (look at the team at you will know why). I also like GigaWatt as I'm trying to get into mining, especially Ethereum and Litecoin. I managed to get into CIVIC and TenX but missed out on Bancor and Status. I hear Bancor is barely above issue price but Status on HitBTC is doing x5 over issue price. If you didn't get in civic, consider AIR/SPHR. Lower supply versus civic and price wise it's cheaper (more potential for upside).
I got in civic I was in the queue but I fell asleep n missed it, I got back in but I was capped at $500 Bancor was uncapped so I take it like me you were in your right mind not to but it's actually below ico Luckily i managed to get in status
I had a look in gigawatt but didn't appeal to me whats so ever, from my understanding your only paying for electricity and not any mining power you'd still need to provide the mining gear
Anyone taken a look at Binance yet ? A new (ICO) Chinese based Exchange with some serious Chinese players. The aim is for a new exchange to take on Poloniex etc and create a platform for coin to coin transactions/exchanges rather than the normal paired trading we have now. The CEO of Antshares/NEO is on board as a partner along with the CEO of OKCoin and Binance Mr. Zhao Chang Peng. Apparently 75% of current buyers are from China and they have a wealth of experienced team members on board. Current tokens/coins are BTC, ETH, LTC, NEO, BNC, ICO. https://www.binance.com/en.html Worth a Punt do you think ?
I don't know I went in heavy in nvo exchange, with nvo you earn nvos which are $.99 us each as a sort of dividence from people using the exchange Don't know much about this one though
I went ahead and bought some Corion. I'm not convinced that it will work, but I think it's potentially a very clever idea and I really want it to work. Not really very sound reasoning for an investment, but I guess I am only human
