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/biz/ - Business & Finance

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22225345 No.22225345 [Reply] [Original]

I just had a crazy idea, a shit coin that cannot be sold on a bear market.

The smart contract itself would prevent a transaction if its 1 hour average is lower than the previous, it would use LINK to get that data.
This forces holders to hold during bear market, they can sell in a bull market, but if they start dumping, making the price to drop, the smart contract will disable trading again. New investors would only be able to buy at higher prices, triggering a bull market once again.

kaex0r protonmail com

>> No.22225417

How do you buy if no one can sell?
How can you sell for profit?
What’s the point
What the fuck did you conceive
IS THIS THE BEAST SYSTEM?

>> No.22225434

>>22225417
>How do you buy if no one can sell?
this lol

>> No.22225541

It's so crazy it just might work!

>> No.22225586

Defeats itself
Also click on the link in the mail

>> No.22225695

>>22225417
>>22225434
You can buy at a higher price as the last hourly average

>> No.22225734

>>22225586
didn't get any emails

>> No.22225784

So, selling is not disabled, just selling for a lower price than the last average.

You can always buy, for higher or the same as the last average.

>> No.22225844
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22225844

>>22225784
so price only go up?

>> No.22225902

>>22225734
Might have been caught by the antivirus. A shame, need a better way to rob retards I guess

>> No.22225951

>>22225695
Why would anyone buy an asset whose worth isn't determined by the market?

>> No.22225959

>>22225844
or crab...

The biggest danger would be the lack of demand, but I think the novelty would be enough to attract initial investors, from there, the incentive would be than doesn't mater where in the curve you buy, you will leave with more (or the same) money.

>> No.22225974

>>22225902
meant to reply
>>22225844
not myself, also checked

>> No.22226004

>>22225951
Veblen good

>> No.22226011
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22226011

>>22225959
why not disable selling unless price is double previous ATH

>> No.22226024

>>22225951
it will be determined by the market, you can sell at an insanely high price, and somebody might decide to buy it at that price.

It only prevents the market from moving downwards.

>> No.22226053

>>22226011
Nobody would get in

>> No.22226101

Also new addition, price would still be able to go down, just slowly.

If it goes down a few sats every hour, it can keep going down forever. This basically kills whale dumping and panic selling.

>> No.22226173
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22226173

>>22226101
there was OnlyUp few days ago, where you could only sell 0.5 eth worth per order. it did like 20x + in hour or two but then the rug got pulled

>> No.22226312

>>22226173
I dont know how OnlyUp works, will look at the contract.

but, if coded well, this will have zero chance of rug pulling.
If a whale dumps (sells at market), the transactions would start to fail once the threshold for that hour is reached.

so, if you want to take profits, you will be forced to do it slowly

>> No.22227434

>I have a crazy idea! a crypto currency with no inherit value, utility or function! totally unlike all the others!