XepCoin Initial Offering
- Thread starter Shrimpp
- Start date
PebbleHost
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hi i signed up uhh what now
BAHAHA
If anybody buys this crap, I’m not sure what will save society. “Let’s make bitcoin but we’ll remove all the parts that make it different than PayPal, but you know what, let’s make it not use dollars so it’s exactly like PayPal but linked to a fiat currency.”
Great idea.
Bitcoin is high risk.
PayPal is geared to an older audience (many of the people on this forum are <18).
XepCoin that is attached to a ID (purchased coin) can be cashed out for USD.[DOUBLEPOST=1534260279][/DOUBLEPOST]SOME COIN STILL AVAILABLE
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How do you intend to make usd out of nothing? How will these cash outs work? You’re saying that XEP is linked to the dollar? How? What currency is backing it and how much is backing it?
As if this isn’t higher risk than bitcoin. At least with bitcoin, it isn’t owned by one person and can’t be wiped out with a single software mistake or by a single bad actor.
DM me.[DOUBLEPOST=1534278539][/DOUBLEPOST]
The coin has an initial backing of $100 (valuing the current price at
We have 500 "free" coins that have entered the system. 999 more "paid" coins and the maximum coin capacity will be reached (for the time being).
When a "paid" coin is bought, the WHOLE payment goes to backing the new coin entering the system.
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So this basically means that:
You'll have 1499 coins (I'll round this up to 1500 to make the math a little easier for the rest of the thread).
You're initially valuing coins at 20 cents a piece, and offering buy ins at $1 per coin. Assuming all 1000 coins are purchased, This means that there will be $1100 backing 1500 coins.
There is also currently no way to convert XEP to USD (although for the rest of this thread I'll ignore that fact)
There are a few issues with this:
1. The price of a single coin will NEVER exceed $0.733 (assuming all 1000 coins are sold, even less if less coins are sold)
2. If the site gets shut down, crashes, database deleted by accident, etc etc. Everybody loses their money
3. There can be no guarantee that a transaction was, in fact, legitimate
4. There can be no guarantee that inflation will not happen and that more than 1500 coins are ever issued
5. There can be no guarantee that a person's coins will be safe, as they do not own the private keys to said coins, and there are no private keys at all in this utterly broken system (its all in a **CENTRALIZED** database... dumb).
6. There can be no guarantee that the backing for this coin will not disappear (as in the money is spent elsewhere).
(Please rebuttal all 6 of the points listed above, except for #1, which is just a fact)
I have a rebuttal for all of them (including the first issue). I just don't care enough to answer right now.
I’d love to hear your answers, and I believe others would to. Maybe there’s a reason none of these “coins” have sold...
I believe shitposting isn't allowed on this forum anymore (correct me if I'm wrong) refrain from doing it further.
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THREAD LOCKED!
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No use to have a thread for an abandoned project.[DOUBLEPOST=1535319001][/DOUBLEPOST]Furthermore:
Making fun of selly.gg (the largest e-commerce site) won't get you far on this forum. Half the damn forum uses it.
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