Show HN: A cryptocurrency that can automatically re-launch itself on-chain

phoenixrevive.io

2 points·kaizoku111··5 comments

So the basic idea is to programmatically set a "floor price" at every revival, and penalize everyone that sells their tokens at a price lower than this "floor" in 50%... So it's a ponzi scheme down to the core, the rules of the "smart" contract itself try to enforce it. Every time I think the crypto world can't get more scammy I'm always, always wrong.

Sorry not my project but it seems how it works is that when there an ATH, the price floor is set 80% of the ATH. People can still sell, and it protects investors money, for those that are in for the long term.

In the long term for what exactly? For the price to keep "going higher and higher"? It's just a ponzi, stay away dude.

> Sorry not my project

From https://news.ycombinator.com/showhn.html

> Show HN

> Show HN is for something you've made that other people can play with. HN users can try it out, give you feedback, and ask questions in the thread.

> The project must be something you've worked on personally and which you're around to discuss.

So, it the price of the coin is going down 60%, I'm not only lose the 60% but also a additional 20%! And if the buyer resells the coin, s/he will get a 50% penalty unless the price increased enough. When this coin crashes, it will crash extra super fast and set a new record.

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