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

[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