Community post
KIN token? any opinions?
Hello Steemians!
I'm browsing over a few coins and was wondering about KIN, and if anyone has some/has an opinion to give about it. It was launched by KIK last year...
I'm not too keen on a supply of 10 trillion coins ... But hey, kik has 300 million users right off the bat.
Replies (13)
There seems to be a lot of FUD in the forums...
I think company based cryptos are stock-boosters and nothing else...
The current circulating supply is 756 billion KIN.
Over time, this will increase to a maximum of 10 trillion KIN (as funds are unlocked to the Rewards Engine).
The only 'formula' that applies here is:
market cap = price per coin * circulating supply
For the purposes of this explanation, consider market cap as a constant. If the supply goes up, the price comes down, and vice versa, but the market cap does not change. So if you take two coins which have the same market cap, but one has a larger supply, that coin will have the smaller price per coin.
What does that mean? It means if you buy 100 of the coin with the higher price, you’ll have ‘more’ coins. But you don’t ACTUALLY have ‘more coins’, because you will own the same % of coins out of the circulating supply as your friend does. Remember that all cryptocurrencies are divisible by many decimal places. The integer number does not matter. Only your percentage owned out of the supply matters.
In the real world, the only difference between a large supply and a small supply is that we will be able to talk about KIN in terms of “one thousand kin” or “one million kin”, instead of trying to talk about it in terms of “0.00000123 KIN” like with many other cryptocurrencies. This is easier for mass market users to understand.
Also, in my experience, new and uneducated investors like to buy coins that have a low price because they incorrectly feel as though they hold “a lot” of something, and therefore “if it just hits a certain price, I’m rich.”
Because of this, having a large supply may actually help KIN grow for a long time by attracting certain types of investors.
Thank you for your reply! Wise words and very true!
I'll have a deeper look into KIN and do some real DD, i only heard about it today... 😃
@melwalker What purpose does it serve though? How is it integrated or relevant to their business?
🦆 ...
What did I say poony hooman!?
Maybe to keep track of everything in an immutable ledger...
KIN was designed “to facilitate a digital sharing economy of equal opportunity.” In layman’s terms, this means that KIN wants to be a universal currency for applications that provide digital goods and services. The idea is that anybody can provide a service and be fairly compensated for their work.
As a cryptocurrency, KIN will stand out from the more typical, centralized, ‘digital currencies’ (think Xbox Points, Twitch Bits) by having real, liquid market value and by being fully decentralized so that no one person or entity has control over its ecosystem.
Or what @melwalker said :D
Ok, my thesis was based on it being centralized akin to Ripple...
Interesting, @melwalker thanks for your keyed up info...
It seems to only be traded on exchanges i've never heard of. They look... funny at best.
Congratulations @kingfisher for your first real Steemit contribution!
I am concerned with coin max and how they generate value longterm. At the low price I was looking to grab a position. Thinly traded and erc20. Do they plan on staying erc20 or branch out?
Probably nothing... Again!