Coin Status / Use > $7m marketcap > Exchange Coin. > Gives dividends (40-80%) from profits based on amount held (paid in ETH). Starts at 80% and drops every year starting next year until 40%. > ICO was mid last year, and no one has dumped their coins out of faith for the project > Current Price is 0.004eth, ICO was 0.11-0.13 eth (price is 1/30th of ICO). > At new platform launch, more coins will be sold at 1 eth each (price is 1/250 of current price!). > PRICE HAS NOT PUMPED AT ALL, EVER. ACTUAL BOTTOM.
The Product > Local-Area exchange to buy/sell/trade coins (and even pay check/cash). This product is live and working. > In the summer a standard digital exchange will be released/added. > Team has so far met all commitments/milestones. Product released so far is solid.
This is going to rise fast and massively. This is genuinely the time to buy in since it hasn't pumped yet and the core product is just around the corner.
So, the only problem I've had with this coin is that pretty much all of the ICO buyers put their coins into the wallet for dividends instead of trading them. It's fascinating, because there was absolutely no dump at the start (check the charts). With the price so low right now (about 1/30th of the ICO price of ~0.12 eth), no one is willing to sell because the dividends are being paid out and the milestones are being hit. Also people aren't selling them because when the new exchange is released this summer, the tokens will be sold from the website at 1 eth each (about 250x current price, 2 million supply). That's probably the stronger reason.
Until the coin price gets up around ICO price, which it should given how thin the orderbooks are, it'll be hard to shake any real accumulation out of this. If I had more money, I'd clear up into the ICO price range and start to lure some weakhands out to allow for liquidity games to start. Sadly, I don't have enough to do that. Anyway, it baffles me how fricken cheap this coin is. Though, I've never seen a thread on it around here, so that's probably why.
Anything up to ICO price, or maybe .2 or .3 eth, would still be free money once the platform launches and marketing starts. People looking at this coin's valuation will be using the site purchase price to value it, which will keep the coin fairly close to 1eth until the site supply is empty. Even if the coin only has a 'meh' reaction, it should still be in the 0.5-0.9 range, I'd imagine.
Brandon Scott
Haven't seen that BRAAP for a while.
Coin actually looks alright. I'll throw a little bit towards it.
Aaron Bailey
Good call. It's only ever 'mooned' once due to a 70 dollar buy order. The orderbook is that thin. btw, there's an ETH pair on coinexchange that's not listed on coinmarketcap. I've had best luck accumulating there.
Jaxon Powell
What the fuck? How can that even be fucking possible?
Jace Price
Holders have to hold the coin on a personal wallet to get the dividends, so they aren't putting it on the exchanges. There is a glut of orders on the books, but they are at-or-around ICO price (understandably). It's clear that extremely few of the ICO holders are selling though, or ever sold for that matter. Look at my second post above.
Kevin Wilson
The logo is a fucking pacman ghost sideways, avoid this shit at all cost.
Julian Sanchez
put a buy order for 3.5 eth @ .0025 I'm not fussed if i wont get it, got plenty of other coins on low balled buy orders. Interesting non the less thanks op
Asher Carter
...
David Rivera
It was such a weird choice, yeah.
It could always fill. Though, accumulation has been hard since it's been this far below ICO. Lowest I got a bite was 0.0029, and that was a while back. Realistically this will slide up to ICO range in the next month and accumulate there, but I wish you lots of luck since anyone getting this price will have 100x or more gains.
Adam Bailey
Okay this ain't bad. I couldn't find the catch. Might as well nab a little. Let's do this anons.
Nathaniel Russell
Explain the dividends or tell me why I shouldn't just dump it when it goes up
Jose Myers
Coin holders (who aren't holding their coins on an exchange and have bound it to the contract) get a % of all fees generated by the platform, both existing (local) and iTrade (market). So you calculate your percent of the coin holdings and multiply that by the current dividend split rate and volume.
Example: imagine you hold 1000 coins and the effective counted coin total is 1,000,000 (it fluctuates and is closer to 800k right now). That means you're holding .1% of the coins that represent the exchange dividend payouts. Now pretend the exchange has the volume of a shitty exchange like Cryptopia (#34th, 41m volume daily or about 15b volume yearly). Then, let's go with a trade fee of .15%. The equation would be 0.001 * (15,000,000,000 * .0015), which means that your yearly income holding 1000 coins would be about $22,500. Again, this is assuming the exchange is shit. If it actually performs worth a damn, then it would be massively higher.
Hudson Hill
Correction: Multiply that by the % of share rate. so .8-.4 (depending on the year), making it $9,000 to $18,000 if the exchange is shit.
Nathaniel Rivera
Jesus. Ok, in. Ran your numbers on kucoin volume and that's crazy.
Asher Cox
Honest question: isn't that kind of unreasonable for P2P though? I mean, an exchange, sure. But for a P2P platform?
I'm interested, so don't write me off as FUD. Just trying to run numbers of my own.
Juan Gomez
This is some scam, too good to be true
Aaron Miller
It's very speculative, but 'maybe'. On the surface I can see why not, but micro-economies for coins have been erupting in areas like Africa and parts of east Asia. Combine that interest (and potential growth) with people who will become afraid to store their coins on an exchange in fear of seizure should governments go nutty with their regulations, I'd say that a cryptopia-level volume is certainty possible. It will be less small trades and more big trades.
Yeah, it could be. But it's a dividend paying shitcoin with a 7m market cap, delivered product, and a rollout model that will give the impression that the coin is worth 1eth. People make fuck tons of money for a lot less around here.
Joshua Campbell
Meeeeh what a shitcoin
Dominic Ward
Lol you weren't kidding about thin order books. And it really has not dumped or pumped. Why are you shilling this? My scam detector has gone off because only pumped coins get shilled here.
Bentley Bell
>Why are you shilling this? Because I hold some at a price lower than this, and I would be lying to deny that. I need other user's to asses it and help liquidity and word of mouth. I genuinely think this thing is going to rise close to that 250x gain since coins will sell at a 1eth price this summer from the website, and there's such an absurdly low number of circulating coins.
Jack Perez
Thanks for being honest about it. If this wasn't on shit exchanges I'd nab some now. Maybe later when I get home.
Andrew Parker
If you want cheap, I had best luck with coinexchange's ETBS/ETH pair. It's not listed on CMC, so the orders tended to be lower there. Realistically, there's not going to be much more liquidity below ICO price for much longer. The trend has been going up for over a week now, prior to any shilling.
Robert Morales
Okay, the more I've read about this, the more interested I am. I hope this moons.
Blake Brown
Shameless bump. This is legit moon potential.
Joseph Richardson
Don't remember it much but ETBS was considered a scam back on spring.
Jason Ross
Source or general idea about what? If that was true, it would have dumped.
I do know they did their profit split, some airdrops, and released the new iTrade demo shots in December. So I'm highly skeptic that a claim to scam is anything more than an attempt at fud for accumulation last year.
