We don’t have a super flash website, we don’t hype out things.
retrocoin : Released on the Stellar blockchain.
Its low cost to buy and move on the blockchain.
Its meant to be used so people can spend as little as a cup of coffee and have some retrocoin they can use. Reward others for videos, applications, contribute towards projects.
Trade skills and services for retrocoin, then use your retrocoin to trade for skills and services you need.
retrocoins can be exchanged for digital downloads of retro computer games. These will be originally on the commodore 64 and commodore 16 home computer. They will be expanded quickly to the Amstrad CPC 464. With other formats following.
How we will do it…
retrocoin issuer account will issue the 1,000,000,000 retrocoins.
retrocoin Distro account will hold the 1,000,000,000 retrocoins.
The Initial Coin Offering will offer 100,000,000 retrocoins available at an initial rate of 0.05 XLM. This will be 10% of all retrocoin. This is the currently equivalent to 1p (GBP £0.01) per retrocoin.
Following on from the Initial Coin Offering we will burn the equivalent amount of coins taken up in the ICO. If 100,000,000 coins are taken in the ICO then will burn 100,000,000 coins from total supply. If its just family and friends and 1000 coins are taken then we will burn 1000 coins.
The XLM raised from the ICO will help fund the download portal, reward for Games Developers to put new games for download on the portal. Retrocoin or XLM will be used to reward Youtube, community projects, facebook group leads.
retrocoin will be distributed to nominated Facebook retrogroups for weekly competitions and distribution to members. retrocoin holders can nominate and vote on groups to receive retrocoin.
retrocoin will be used to purchase stock to be traded on the retrocoin website. This will allow low cost and budget titles to enter into the retrocoin trade pool.
A lot of exciting things that will be happening, I hope you want to come along on the journey with me.
Not having that take away coffee @ £2.80 will get you on board or you could maybe buy 1000 to use for rewards for your favourite retro youtubers.
Or just come along for the ride and keep checking back and see how retrocoin can contribute to the retro community with no need to buy retrocoin at all.
Liquidity
To support the token and maintain its value, we will undertake the following on its launch.
- Digital Downloads produced by 8bitsquad will be donated to give retrocoin a trade value. The developer will not receive any further tokens for digital download versions, also 50% of all retrocoin used to purchase digital downloads will be burnt.
- Approx 400 physical tape and disk games along with books and manuals ; across Amstrad, Commodore, Sinclair, MSX and Acorn formats will be purchased with retrocoin and be made available to buy online once the ICO is finished. This stock level will never drop below 100 physical items. This ensures that if anyone wished to trade in retrocoin for physical items then they can do so.
- Upon completion of the ICO retrocoin will burn the equivalent retrocoin tokens.
- Upon completion of the ICO retrocoin will host a raffle with entry per ticket being 10 retrocoins. This will include 10 prizes of hardware and software accross multiple formats.
- Initial contributors will be offered payment in retrocoin, the preferred token, if this is unable to be completed in retrocoin we will then offer XLM to purchase stock to be sold for retrocoin.
- We have no plans to set up on exchange liquidity pools at this time. This is mainly to allow the token to organically growth and eliminate any doubts in token holders that the creators will rug pull out of the liquidity pool.
Crypto Currencies : Tokens
Risks
No one knows what a value in real money terms any crypto token will be in 5 seconds let alone 5 years.
It is a risk buying and selling crypto tokens.
If you are in any doubt about buying a retrocoin (even a single retrocoin) then don’t do it. Only buy retrocoin with money that you can afford to watch go up or down in value. Or if you are willing to give the tokens away to contributors or spend them on digital downloads.
The token retrocoin is on the stellar blockchain and you will need some lumens to operate within stellar. Lumens cost money and when you buy the lumens that money goes to stellar the people who own lumens and the blockchain.
You then have some lumens in your wallet (just like having dollars, pounds or euros). You then via the trade option swap or trade your lumens for retrocoin.
You will always need to keep some lumens in your wallet to enable the wallet to stay active and to trade around the network, lets call that the money exchange (foreign exchange) fee they charge. With Stellar that fee is very little, so that’s why retrocoin is on the stellar blockchain.
Your initial money is always at risk.. The money you spend on lumens at the start is always at risk.
Always refer to retrocoin and value it at 1p the price it was started at and the price it will be referred to. It may show a value higher and indeed you could turn into a money trader and sell it at a higher price.
Retrocoin could be the victim of its own success. If the price of retrocoin zooms to the moon (that good old chestnut) don’t get carried away. A large whale could be ready to make the market move, it will attract the traders eventually , but from a community point of view if you always keep in mind that’s its worth 1p.
For the benefit of anyone reading the retrocoin is a token on the stellar blockchain, its a type of crypto assest , sometimes refered to as crypto coin or token. Its not a true coin because it does not have its own blockchain so its a token because it uses the stellar blockchain.
Tokens and coins are very volatile, they move and can be sent sky rocketing or plunge to the bottom of the ocean based on simple tweets or another asset falling.
SCAMS and Rug Pulls. Someone might have another token called retrocoin be aware of the name and the logo also check against the address listed on the website of the token distributer.
Rug Pull : If suddenly we abandon the market and run away with the funds. The token is not designed to be used for get rich and trade its designed to reward contributors to the retro community, its alive and running, the assets will stay on the block chain and can be still sent. We are not asking for a liquidity pool to force the token price up and for you all to put in more and more lumens. You buy the token with whatever you can afford and they are yours.
Whale : Someone who holds a lot of retrocoin and can influence the price. A sudden movement in retrocoin by a large whale will influence the price, if you are trading to sell retrocoin then this will impact you. If you are holding retrocoin for downloads and rewards then it will not change the amount of retrocoin you have.
If the price is high then it will cost you more lumens to buy any more retrocoin for your trades or rewards. Obviously if its low then you will get more retrocoin for your lumens.