My crazy idea? Nem coin (mosaic) which price never drop

Ideas
#1

Hi all,

I’m a game/app developer for 9 years, but new to this world of blockchain/cryptocurrency. For these two weeks i learn anything about blockchain, bitcoin, cryptocurrency, ico, mining. And i fall in love with it.

As a newbie i want to make my own cryptocoin, and hope it will be valued 1000x on the future :slight_smile: (i believe everyone want too)
There are many choice to make my own coin easily. But a friend recommend me to use NEM platform to make my own coin. I try it, learn its sdk, create mosaics, and choose to bet my time on NEM.

To make just another coin like bitcoin is not enough, to be success i believe the coin must give value add to its holder. Some value add like: transferable anytime, anywhere, anonymously is not enough. But i have some idea, crazy idea…

A coin/mosaic which promise two things:

  1. Its price never drop against base currency (XEM)
  2. Its price guaranteed to grow over time

First i want to ask our community first. If i can make its possible, will you buy the mosaic? Or this an ordinary idea? a bad idea?

Backend for this coin/mosaic still in development. I hope nextweek i can test it on testnet. Maybe it just an ordinary idea but, at least i can learn NEM sdk by doing this.

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#2

How you want accomplish this two goals? 1. Price never drops 2. Price grows :wink:
I don’t think it’s possible in free market but maybe I am wrong?

1 Like
#3

Price never drop: It’s need very complicated math and business formula, but can be simplified to two approach:

  1. make insurance system that guaranteed to buy investor coin at its buy price, when the price drop in free market
  2. peg its value to base currency. in this case: xem

If we can accomplish first goal to guarante it never drop, its easy to make it profitable:

  1. The coin will be popular because first goal. This is basic requirement, its easier to monetize popular things/anything.
  2. Make a service or app that accept the coin as payment, when transaction happen, the number of coin in user hand/market will be reduced, and make the price rise automatically
  3. If i am lazy, just do harvesting

I have code the simulation-still not using nem sdk, i cant believe the result, the price can be grow 10% a day, and its grow against XEM, thats mean if that day XEM increase 1% against USD, the coin will in crease 11% versus dollar, of course if XEM dip 10%, the coin have no change versus USD.

Of course 10% is bad, If its too expensive, no one can afford to buy the coin. I think i will capped the grow to maximal 1% a day.

Hmm 1% a day is 30% a month, 360% a year, …it’s like a scam. :laughing:

Let me check the code, may be there is some error parameter. Its too good to be true :sweat_smile:

#4

This has been done on the bitshares platform. The coin is called HERO and is pegged to usd pre-fed era. In addition it has a 5% yearly appreciation built in.

But that’s bitshares. I have no idea what’s possible in the nem as I’m fairly new to it.

#5

Great info, thanx.

I have google it, its very similar with my idea, but maybe there is some difference.

  1. Bitshare pegged its value to usd, my coin will be pegged to xem.
    Pegged to usd, have a drawback - you can feel lose of chance - when bitcoin appreciated, your coin just stay flat. Pegged to xem have double benefit, double value appreciation and value hedging when xem fall to usd.

  2. My coin cant promise to fix percentage appreciation. Its defend on app/service thats accept the coin as payment.

My simulation really show great value appreciation. So i have add code to cap the appreciation to max 0.5% a day, or 200% a year. Lets people think its a scam, i also think its a scam if someone make claim like this haha

On worst case: the coin only appreciate 0%, because no one use app/service or no result from nem harvesting.

there is some positive thing, about bitshare: its mean my idea to make pegged coin that grow already validated by the market, thank you for the info :relaxed:

#6

backend code already done, ready to test on testnet. but… i have no xem :sob: my request for test xem in other thread got ignored

#7

Did you try ask on Telegram (red or nemberia)

2 Likes
#8

Yes try asking in Telegram Ned Red , and Nembria (Blue).

1 Like
#9

I think it’ll be just another speculative token, but with additional features, which will not work in a real world.

  1. The coin will be popular because first goal. This is basic requirement, its easier to monetize popular things/anything. - Yeah: that’s just another speculative coin, we have thousands of them…
  2. Make a service or app that accept the coin as payment, when transaction happen, the number of coin in user hand/market will be reduced, and make the price rise automatically - That will not decrease cap of a token. Just another person will have your coins, but total coins will be the same. You should burn coins to make sure price go up, but how to achieve this?
  3. If i am lazy, just do harvesting - What’s the point? It’s basically the same, if user harvest on his own instead of buying token and also harvesting.

The coins value in a long term will be pegged 1:1 to xem. OFC the price will go up and down(to 1:1), because of speculations, but these arguments aren’t real economic arguments. Just my 3 xem :stuck_out_tongue:

#10

I plan to make the coin can be bought by xem only, and may be after mosaic exchange launched, will be tradeable to another mosaic.

"Yeah: that’s just another speculative coin, we have thousands of them…"
I can not understand why it will be a speculative token?

  • I cannot buy low-sell high or sell high-buy low against xem. it is pegged to xem
  • if we want to do speculation, we should do using xem, because its price change against usd or btc.
  • May be you mean speculative token as a token which purpose disconnected to real business?

“That will not decrease cap of a token. Just another person will have your coins, but total coins will be the same. You should burn coins to make sure price go up, but how to achieve this?”

There are 2 ways to increase coin value: reduce token cap and increase company value.
I have plan to develop some service/app. When we accept payment using the coin, half of the profit in coin will be burn. So reduce coin cap, simultanously increase our company strength to force pegged the coin. Indirectly increase the coin value.

"What’s the point? It’s basically the same, if user harvest on his own instead of buying token and also harvesting."
I still learning about harvesting and POI. May be i’m wrong how harvesting work, but someone with 10.000 xem will have lesser chance than 10 people join his xem to total 100.000. Its like mining pool, bigger number - bigger chance. 10 people have 100.000 together still win versus 1 people have 100.000, because POI calculate “interaction”. I believe interaction value between 10 people will be high than 1 person only.

"…the price will go up and down(to 1:1), because of speculations, but these arguments aren’t real economic arguments."
its possible. But i hope, doing speculation will not be worthed because of small price movement.

I’m new to blockchain/cryptocurrency. Experience not lies, may be this will become stupid coin, but at least i try and learn from it

Thank you for your critical feedback @Walkie101

#11

Ok, now i get it. Like i said - without increasing company value it’ll be just 1:1 pegged coin. But, if you truly can achieve some working product, for which people will able to pay - i agree - there will be your value.

So, good luck :slight_smile:

#12

Thank you for your support. In one or two days i will upload my exchange bot to testnet. Its function to handle anyone want to buy the coin automatically. After some days, i also will add function to handle anyone want to sell the coin.

If anyone have xem to spare in testnet, please support us :grinning: