Sumcoin is likely to be the 3rd biggest coin in the world later on this year

[MysteriousWeeb420]

The developers want it to seem like a seemingly dead coin at the moment for certain reasons. I'm not divulging that info. 

The developers and those close to them know about the CZ phone conversations.

What most people don't realize is that it's actually pretty easy to get any coin, index or not, listed at an exchange. Even a tier 1 exchange. All you need to do is bring the coin's dev team with you, pay the listing fees, and pretty much bribe the exchange owner with a decent amount of your coin. The only thing that gives cryptos true liquid value is what the centralized exchange owners allow on their centralized exchanges and what they won't allow. Since all exchanges are a business and only care about making money, they don't care what coin is listed, as long as they get paid well. It is totally legal to negotiate coins as incentive for getting listed on an exchange. Guess who has a fuckton of sumcoins? That's right, the sumcoin developers. For stocks, this would not be legal.

Sumcoin is currently on the STEX exchange so the dev team is familiar with how to program the indexing algorithm into the exchange.

so not only are the fundamentals extremely questionable (no whitepaper, non-public algorithm, unknown academic backgrounds) but the dev team are also morally questionable 

lol

People have traded sumcoin for Tesla's, houses, cars, even a small California town. What does a person's academic background have to do with a coin? Nobody even knows who Satoshi Nakamoto is. White paper? Who gives a shit? Morally questionable? Gtfo tbh

trust me academic background is very important. it determines whether a coin actually works or not. if it is copy pasted garbage or something original and innovative. 

satoshi didn't need any of that because bitcoin is open-source obviously

Why is it important when:

-All that's necessary to get on to an exchange is to pay the exchange owner, which STEX has already facilitated.

-Ty Jacobsen is friend with the CEO of Coinbase, Brian Armstrong

-Ty Jacobsen worked with Charlie Lee, the inventor of Litecoin, which you can verify in the main sumcoin press release

-Millions of people already own Sumcoin, with several thousands of transactions taking place per day? There was even a point in time when sumcoin transactions exceeded those of Bitcoin on a day to day basis

Getting onto an exchange isn't like going to a job interview where youre required to have an academic resume.

What coins have you created? What do you own? Screenshots?

you keep running away from the tech which is literally the entire point of the coin 

[MasterFaggot]

so not only are the fundamentals extremely questionable (no whitepaper, non-public algorithm, unknown academic backgrounds) but the dev team are also morally questionable 

lol

People have traded sumcoin for Tesla's, houses, cars, even a small California town. What does a person's academic background have to do with a coin? Nobody even knows who Satoshi Nakamoto is. White paper? Who gives a shit? Morally questionable? Gtfo tbh

trust me academic background is very important. it determines whether a coin actually works or not. if it is copy pasted garbage or something original and innovative. 

satoshi didn't need any of that because bitcoin is open-source obviously

Why is it important when:

-All that's necessary to get on to an exchange is to pay the exchange owner, which STEX has already facilitated.

-Ty Jacobsen is friend with the CEO of Coinbase, Brian Armstrong

-Ty Jacobsen worked with Charlie Lee, the inventor of Litecoin, which you can verify in the main sumcoin press release

-Millions of people already own Sumcoin, with several thousands of transactions taking place per day? There was even a point in time when sumcoin transactions exceeded those of Bitcoin on a day to day basis

Getting onto an exchange isn't like going to a job interview where youre required to have an academic resume.

What coins have you created? What do you own? Screenshots?

you keep running away from the tech which is literally the entire point of the coin 

Kk sumcoin is worthless you win

[MysteriousWeeb420]

People have traded sumcoin for Tesla's, houses, cars, even a small California town. What does a person's academic background have to do with a coin? Nobody even knows who Satoshi Nakamoto is. White paper? Who gives a shit? Morally questionable? Gtfo tbh

trust me academic background is very important. it determines whether a coin actually works or not. if it is copy pasted garbage or something original and innovative. 

satoshi didn't need any of that because bitcoin is open-source obviously

Why is it important when:

-All that's necessary to get on to an exchange is to pay the exchange owner, which STEX has already facilitated.

-Ty Jacobsen is friend with the CEO of Coinbase, Brian Armstrong

-Ty Jacobsen worked with Charlie Lee, the inventor of Litecoin, which you can verify in the main sumcoin press release

-Millions of people already own Sumcoin, with several thousands of transactions taking place per day? There was even a point in time when sumcoin transactions exceeded those of Bitcoin on a day to day basis

Getting onto an exchange isn't like going to a job interview where youre required to have an academic resume.

What coins have you created? What do you own? Screenshots?

you keep running away from the tech which is literally the entire point of the coin 

Kk sumcoin is worthless you win

Legit, as far as I can tell there is no decentralised mechanism anchoring price to the top 100 coins. They just compute it's value themselves and don't let anyone on the stex exchange trade at different prices

[MasterFaggot]

trust me academic background is very important. it determines whether a coin actually works or not. if it is copy pasted garbage or something original and innovative. 

satoshi didn't need any of that because bitcoin is open-source obviously

Why is it important when:

-All that's necessary to get on to an exchange is to pay the exchange owner, which STEX has already facilitated.

-Ty Jacobsen is friend with the CEO of Coinbase, Brian Armstrong

-Ty Jacobsen worked with Charlie Lee, the inventor of Litecoin, which you can verify in the main sumcoin press release

-Millions of people already own Sumcoin, with several thousands of transactions taking place per day? There was even a point in time when sumcoin transactions exceeded those of Bitcoin on a day to day basis

Getting onto an exchange isn't like going to a job interview where youre required to have an academic resume.

What coins have you created? What do you own? Screenshots?

you keep running away from the tech which is literally the entire point of the coin 

Kk sumcoin is worthless you win

Legit, as far as I can tell there is no decentralised mechanism anchoring price to the top 100 coins. They just compute it's value themselves and don't let anyone on the stex exchange trade at different prices

Sumcoin collects and aggregates price data from tons of different exchanges. Coinbase is interested in sumcoin since Ty is friends with the Coinbase CEO. I'm not worried about Sum hitting tier 1 exchanges this year. Me and my friends will become overnight multimillionaires while the average lookism user is paddling up shits creek

[MysteriousWeeb420]

Why is it important when:

-All that's necessary to get on to an exchange is to pay the exchange owner, which STEX has already facilitated.

-Ty Jacobsen is friend with the CEO of Coinbase, Brian Armstrong

-Ty Jacobsen worked with Charlie Lee, the inventor of Litecoin, which you can verify in the main sumcoin press release

-Millions of people already own Sumcoin, with several thousands of transactions taking place per day? There was even a point in time when sumcoin transactions exceeded those of Bitcoin on a day to day basis

Getting onto an exchange isn't like going to a job interview where youre required to have an academic resume.

What coins have you created? What do you own? Screenshots?

you keep running away from the tech which is literally the entire point of the coin 

Kk sumcoin is worthless you win

Legit, as far as I can tell there is no decentralised mechanism anchoring price to the top 100 coins. They just compute it's value themselves and don't let anyone on the stex exchange trade at different prices

Sumcoin collects and aggregates price data from tons of different exchanges. Coinbase is interested in sumcoin since Ty is friends with the Coinbase CEO. I'm not worried about Sum hitting tier 1 exchanges this year. Me and my friends will become overnight multimillionaires while the average lookism user is paddling up shits creek

Which is very centralised. 

And it's pretty clear the reason they only allow you to trade it at the price they want is to stop it from giga dumping (what would inevitably happen if it was up to the free market). 

This wouldn't be necessary if each sumcoin was backed by the top 100 cryptocurrencies but of course that isn't mentioned anywhere. Seems to me like they are just trying to forcefully establish the value of a token that is inherently worthless so they can dump the considerable supply they've given themselves.

I don't see any of the big exchanges being on board with this but we'll see.

[MasterFaggot]

you keep running away from the tech which is literally the entire point of the coin 

Kk sumcoin is worthless you win

Legit, as far as I can tell there is no decentralised mechanism anchoring price to the top 100 coins. They just compute it's value themselves and don't let anyone on the stex exchange trade at different prices

Sumcoin collects and aggregates price data from tons of different exchanges. Coinbase is interested in sumcoin since Ty is friends with the Coinbase CEO. I'm not worried about Sum hitting tier 1 exchanges this year. Me and my friends will become overnight multimillionaires while the average lookism user is paddling up shits creek

Which is very centralised. 

And it's pretty clear the reason they only allow you to trade it at the price they want is to stop it from giga dumping (what would inevitably happen if it was up to the free market). 

This wouldn't be necessary if each sumcoin was backed by the top 100 cryptocurrencies but of course that isn't mentioned anywhere. Seems to me like they are just trying to forcefully establish the value of a token that is inherently worthless so they can dump the considerable supply they've given themselves.

I don't see any of the big exchanges being on board with this but we'll see.

The exchanges have to honor the index rate, and all trading must occur at the index rate. That's what the STEX exchange did. Because all trading must occur at the index rate, the price of Sumcoin cannot be crashed or artificially moved upwards due to the natural pressures of buying and selling like every other coin experiences. The indexing algorithm is the proprietary essence of Sumcoin.

Every "problem" you try to bring up has already been dealt with. You talk as if you're the first and only person to mention these concerns. The two biggest exchanges in the world have already said privately that they would love to list Sumcoin, as that would just be more money in their pockets once people start buying and selling them. An exchange is just a business - they'll list just about any coin as all they care about is making money. There doesn't even need to be a strong usecase for a coin in order to be listed by Binance or Coinbase. Does dogecoin have a usecase? 

Sumcoin trades in the same exact manner SPY is traded - at the agreed index rate.

[MysteriousWeeb420]

Kk sumcoin is worthless you win

Legit, as far as I can tell there is no decentralised mechanism anchoring price to the top 100 coins. They just compute it's value themselves and don't let anyone on the stex exchange trade at different prices

Sumcoin collects and aggregates price data from tons of different exchanges. Coinbase is interested in sumcoin since Ty is friends with the Coinbase CEO. I'm not worried about Sum hitting tier 1 exchanges this year. Me and my friends will become overnight multimillionaires while the average lookism user is paddling up shits creek

Which is very centralised. 

And it's pretty clear the reason they only allow you to trade it at the price they want is to stop it from giga dumping (what would inevitably happen if it was up to the free market). 

This wouldn't be necessary if each sumcoin was backed by the top 100 cryptocurrencies but of course that isn't mentioned anywhere. Seems to me like they are just trying to forcefully establish the value of a token that is inherently worthless so they can dump the considerable supply they've given themselves.

I don't see any of the big exchanges being on board with this but we'll see.

The exchanges have to honor the index rate, and all trading must occur at the index rate. That's what the STEX exchange did. Because all trading must occur at the index rate, the price of Sumcoin cannot be crashed or artificially moved upwards due to the natural pressures of buying and selling like every other coin experiences. The indexing algorithm is the proprietary essence of Sumcoin.

Every "problem" you try to bring up has already been dealt with. You talk as if you're the first and only person to mention these concerns. The two biggest exchanges in the world have already said privately that they would love to list Sumcoin, as that would just be more money in their pockets once people start buying and selling them. An exchange is just a business - they'll list just about any coin as all they care about is making money. There doesn't even need to be a strong usecase for a coin in order to be listed by Binance or Coinbase. Does dogecoin have a usecase? 

Sumcoin trades in the same exact manner SPY is traded - at the agreed index rate.

Spy is an etf that is traded on the free market, ie it's price is not restricted. It tracks the s&p500 because it can be redeemed for the constituent stocks so arbitrageurs will take advantage of any deviations. 

Sumcoin is nothing like this

[dwohhgang]

Legit, as far as I can tell there is no decentralised mechanism anchoring price to the top 100 coins. They just compute it's value themselves and don't let anyone on the stex exchange trade at different prices

Sumcoin collects and aggregates price data from tons of different exchanges. Coinbase is interested in sumcoin since Ty is friends with the Coinbase CEO. I'm not worried about Sum hitting tier 1 exchanges this year. Me and my friends will become overnight multimillionaires while the average lookism user is paddling up shits creek

Which is very centralised. 

And it's pretty clear the reason they only allow you to trade it at the price they want is to stop it from giga dumping (what would inevitably happen if it was up to the free market). 

This wouldn't be necessary if each sumcoin was backed by the top 100 cryptocurrencies but of course that isn't mentioned anywhere. Seems to me like they are just trying to forcefully establish the value of a token that is inherently worthless so they can dump the considerable supply they've given themselves.

I don't see any of the big exchanges being on board with this but we'll see.

The exchanges have to honor the index rate, and all trading must occur at the index rate. That's what the STEX exchange did. Because all trading must occur at the index rate, the price of Sumcoin cannot be crashed or artificially moved upwards due to the natural pressures of buying and selling like every other coin experiences. The indexing algorithm is the proprietary essence of Sumcoin.

Every "problem" you try to bring up has already been dealt with. You talk as if you're the first and only person to mention these concerns. The two biggest exchanges in the world have already said privately that they would love to list Sumcoin, as that would just be more money in their pockets once people start buying and selling them. An exchange is just a business - they'll list just about any coin as all they care about is making money. There doesn't even need to be a strong usecase for a coin in order to be listed by Binance or Coinbase. Does dogecoin have a usecase? 

Sumcoin trades in the same exact manner SPY is traded - at the agreed index rate.

Spy is an etf that is traded on the free market, ie it's price is not restricted. It tracks the s&p500 because it can be redeemed for the constituent stocks so arbitrageurs will take advantage of any deviations. 

Sumcoin is nothing like this

sumcoin 24/7

[MasterFaggot]

Legit, as far as I can tell there is no decentralised mechanism anchoring price to the top 100 coins. They just compute it's value themselves and don't let anyone on the stex exchange trade at different prices

Sumcoin collects and aggregates price data from tons of different exchanges. Coinbase is interested in sumcoin since Ty is friends with the Coinbase CEO. I'm not worried about Sum hitting tier 1 exchanges this year. Me and my friends will become overnight multimillionaires while the average lookism user is paddling up shits creek

Which is very centralised. 

And it's pretty clear the reason they only allow you to trade it at the price they want is to stop it from giga dumping (what would inevitably happen if it was up to the free market). 

This wouldn't be necessary if each sumcoin was backed by the top 100 cryptocurrencies but of course that isn't mentioned anywhere. Seems to me like they are just trying to forcefully establish the value of a token that is inherently worthless so they can dump the considerable supply they've given themselves.

I don't see any of the big exchanges being on board with this but we'll see.

The exchanges have to honor the index rate, and all trading must occur at the index rate. That's what the STEX exchange did. Because all trading must occur at the index rate, the price of Sumcoin cannot be crashed or artificially moved upwards due to the natural pressures of buying and selling like every other coin experiences. The indexing algorithm is the proprietary essence of Sumcoin.

Every "problem" you try to bring up has already been dealt with. You talk as if you're the first and only person to mention these concerns. The two biggest exchanges in the world have already said privately that they would love to list Sumcoin, as that would just be more money in their pockets once people start buying and selling them. An exchange is just a business - they'll list just about any coin as all they care about is making money. There doesn't even need to be a strong usecase for a coin in order to be listed by Binance or Coinbase. Does dogecoin have a usecase? 

Sumcoin trades in the same exact manner SPY is traded - at the agreed index rate.

Spy is an etf that is traded on the free market, ie it's price is not restricted. It tracks the s&p500 because it can be redeemed for the constituent stocks so arbitrageurs will take advantage of any deviations. 

Sumcoin is nothing like this

Arbitrageurs take advantage of price deviations of Bitcoin due to the many exchanges that exist. The developers have already planned to have a unified price across all exchanges which is key to the integrity of Sumcoin. Either way, once CZ gave the greenlight for sumcoin, I knew instantly that the project is going to be huge.

At first I thought you were just a typical sumcoin basher, but it looks like you're just trying to point out potential pitfalls of sumcoin. I haven't looked at the source code or the algorithms or anything like that as I'm not a programmer or developer that would be able to make any sense from it. The bottom line is that an index coin brought to the markets would be huge as the world needs an index crypto coin. It's definitely not an easy task, and Ty has spent an enormous amount of time and his own money to fund the project.

[MysteriousWeeb420]

Sumcoin collects and aggregates price data from tons of different exchanges. Coinbase is interested in sumcoin since Ty is friends with the Coinbase CEO. I'm not worried about Sum hitting tier 1 exchanges this year. Me and my friends will become overnight multimillionaires while the average lookism user is paddling up shits creek

Which is very centralised. 

And it's pretty clear the reason they only allow you to trade it at the price they want is to stop it from giga dumping (what would inevitably happen if it was up to the free market). 

This wouldn't be necessary if each sumcoin was backed by the top 100 cryptocurrencies but of course that isn't mentioned anywhere. Seems to me like they are just trying to forcefully establish the value of a token that is inherently worthless so they can dump the considerable supply they've given themselves.

I don't see any of the big exchanges being on board with this but we'll see.

The exchanges have to honor the index rate, and all trading must occur at the index rate. That's what the STEX exchange did. Because all trading must occur at the index rate, the price of Sumcoin cannot be crashed or artificially moved upwards due to the natural pressures of buying and selling like every other coin experiences. The indexing algorithm is the proprietary essence of Sumcoin.

Every "problem" you try to bring up has already been dealt with. You talk as if you're the first and only person to mention these concerns. The two biggest exchanges in the world have already said privately that they would love to list Sumcoin, as that would just be more money in their pockets once people start buying and selling them. An exchange is just a business - they'll list just about any coin as all they care about is making money. There doesn't even need to be a strong usecase for a coin in order to be listed by Binance or Coinbase. Does dogecoin have a usecase? 

Sumcoin trades in the same exact manner SPY is traded - at the agreed index rate.

Spy is an etf that is traded on the free market, ie it's price is not restricted. It tracks the s&p500 because it can be redeemed for the constituent stocks so arbitrageurs will take advantage of any deviations. 

Sumcoin is nothing like this

Arbitrageurs take advantage of price deviations of Bitcoin due to the many exchanges that exist. The developers have already planned to have a unified price across all exchanges which is key to the integrity of Sumcoin. Either way, once CZ gave the greenlight for sumcoin, I knew instantly that the project is going to be huge.

At first I thought you were just a typical sumcoin basher, but it looks like you're just trying to point out potential pitfalls of sumcoin. I haven't looked at the source code or the algorithms or anything like that as I'm not a programmer or developer that would be able to make any sense from it. The bottom line is that an index coin brought to the markets would be huge as the world needs an index crypto coin. It's definitely not an easy task, and Ty has spent an enormous amount of time and his own money to fund the project.

But how does it maintain this price while being exposed to the forces of the free market? What is the mechanism that causes it to track the index value they compute. Restricting trade is not a solution

I'm just extremely skeptical of any project purporting a marketcap of 70 billion usd with no publicity or whitepaper.  I mean look at what happen to ICP and they actually have good tech + a whitepaper

[dwohhgang]

Which is very centralised. 

And it's pretty clear the reason they only allow you to trade it at the price they want is to stop it from giga dumping (what would inevitably happen if it was up to the free market). 

This wouldn't be necessary if each sumcoin was backed by the top 100 cryptocurrencies but of course that isn't mentioned anywhere. Seems to me like they are just trying to forcefully establish the value of a token that is inherently worthless so they can dump the considerable supply they've given themselves.

I don't see any of the big exchanges being on board with this but we'll see.

The exchanges have to honor the index rate, and all trading must occur at the index rate. That's what the STEX exchange did. Because all trading must occur at the index rate, the price of Sumcoin cannot be crashed or artificially moved upwards due to the natural pressures of buying and selling like every other coin experiences. The indexing algorithm is the proprietary essence of Sumcoin.

Every "problem" you try to bring up has already been dealt with. You talk as if you're the first and only person to mention these concerns. The two biggest exchanges in the world have already said privately that they would love to list Sumcoin, as that would just be more money in their pockets once people start buying and selling them. An exchange is just a business - they'll list just about any coin as all they care about is making money. There doesn't even need to be a strong usecase for a coin in order to be listed by Binance or Coinbase. Does dogecoin have a usecase? 

Sumcoin trades in the same exact manner SPY is traded - at the agreed index rate.

Spy is an etf that is traded on the free market, ie it's price is not restricted. It tracks the s&p500 because it can be redeemed for the constituent stocks so arbitrageurs will take advantage of any deviations. 

Sumcoin is nothing like this

Arbitrageurs take advantage of price deviations of Bitcoin due to the many exchanges that exist. The developers have already planned to have a unified price across all exchanges which is key to the integrity of Sumcoin. Either way, once CZ gave the greenlight for sumcoin, I knew instantly that the project is going to be huge.

At first I thought you were just a typical sumcoin basher, but it looks like you're just trying to point out potential pitfalls of sumcoin. I haven't looked at the source code or the algorithms or anything like that as I'm not a programmer or developer that would be able to make any sense from it. The bottom line is that an index coin brought to the markets would be huge as the world needs an index crypto coin. It's definitely not an easy task, and Ty has spent an enormous amount of time and his own money to fund the project.

But how does it maintain this price while being exposed to the forces of the free market? What is the mechanism that causes it to track the index value they compute. Restricting trade is not a solution

I'm just extremely skeptical of any project purporting a marketcap of 70 billion usd with no publicity or whitepaper.  I mean look at what happen to ICP and they actually have good tech + a whitepaper

ur so smart 24/7

[height]

scam alert

[Altruist]

something is off lol

your face

[MysteriousWeeb420]

something is off lol

your face

get a life lmao 

Don't you have better things to do then bump old threads in an attempt to spike my cortisol

[Altruist]

something is off lol

your face

get a life lmao 

Don't you have better things to do then bump old threads in an attempt to spike my cortisol

i m multitasking