@andref
I wrote about this in the Russian part of the forum.https://letstalkbitcoin.com/forum/post/-to-50
I want to register. The possibility of paying once a week?
OSTO need to buy or sell? Or it is possible in two directions?
Thanks for your idea!
andref,
Thanks for your reply and for writing about this on the Russian forum. It's always possible to do distributions like this daily or weekly. OCTO already does monthly for the lottery faucet and the folding@home, so it's easier and cheaper. If OCTO was more well known like LTBCoin and FoldingCoin it would make sense to do daily or weekly but at this point it costs too much BTC and there aren't always a large volume of participants in any of OCTO's current promotions.
The 50% match this week is only for this week. And it was only to spur volume on bittrex.com so that we would not be delisted. OCTO has had very low volume and I knew it would until the projects to give OCTO value are in place. That's fine and it makes sense that Bittrex system flags us for removal. However, I worked really hard trying to get us listed on Bittrex and it also affects the price and placement on coinmarketcap when the only other exchanges we would be listed on is the DEX and MasterXchange which will not reflect the true price.
We had a decent response yesterday and that may have been enough to save us. The rest of the week is just to be fair for people who may not have seen it. I feel like only doing this for 1-3 days seems shady whereas a week gives most forum users the chance to see it, and participate if they like.
However, the 50% will not last, because we do not want to waste distribution, I do think, to keep from being being flagged monthly, it is wise to incentivize users to trade that a very low interest rate for a 2-3 month period is feasible and fair to keep a high enough volume to keep us from being flagged. I need to keep that pressure off of me so that at the end of every month I do not have to stop what I'm doing and deal with trying to figure out how we are going to stay on Bittrex. So, that's the plan, give incentive for a short term period and make it easy by doing a monthly distribution with the current monthly's.
As for buying/selling. Technically volume is volume and Bittrex does not care about buy/sell as long as the volume is there for them to collect fees. However, from OCTO's standpoint, it has to be buy only. That may seem odd at first, but we are not going to see volume that will pump up the price any more than what we have seen in the past when you look at the charts. There's not enough people who know enough about us and at this point OCTO is still speculation until we give you a reason otherwise.
Also, I cannot incentivize someone to sell OCTO and then give them a 50% match on the amount sold because it would create a chain effect where if you traded for 1000 OCTO and I matched you with 500, then you turn around and sell 1500 and I have to give you 750, you sell 750 and I have to give you 375, you sell 375 and I have to give you 187.5. You see my point?
It doesn't work when you do the opposite because you have to spend your own BTC to buy and once I commit to including a sell it compromises the coin and will spawn a price plummet.
We also want people who purchase OCTO to be people who are really interested in OCTO's projects and what we have planned. Hopefully this will reward true OCTO fans and we will not see many who are just looking to buy, reap the match and then sell.
Thanks for your time!
