i'm in....but shouldn't it be [rep pts] x [100,000] ?
I considered that, but I wanted to be a bit conservative in the event more people were interested than I anticipated. There are +1000 registered members online at any one time, but my guess is that less than 10% are competent and/or interested in cryptocurrency. If this proves to be false, I'll be glad I kept it at x10,000.
So how will it be deflationary will a certain percentage be burned? Also for this to take off we would have to open registration for those who buy a certain amount of coin on the open market.
For your first question, I'll have to wait until the poll has concluded, and there is a definitive consensus on evolving the coin into a marketplace participant. I have a phase 2 to all this, where more indepth details concerning the operating parameters of the token will be disclosed. I just don't want to put the cart before the horse right now.
So basically if one doesn't know anything about cryptocurrency one can't participate?
I wouldn't say so, no. You certainly could participate, but it takes quite the commitment to learn the mechanics of cryptocurrency, a couple months for most people. Just to be able to "digest" how it all works.
What is the value of the average coin and how do they rise in value?
As I said above, I'm waiting until the poll concludes, and then I'll go into phase 2 of the project. I'm really just trying to gauge the interest right now.