Add shorting on margin, borrowing against other users that currently hold Rand and being force liquidated if the other users sell
Make this a disaster lol
Show HN: RandomCoin – A cryptocurrency that changes its price every second
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Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#12Add shorting on margin, borrowing against other users that currently hold Rand and being force liquidated if the other users sell Make this a disaster lol
oh my god YES
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#13I realize that this is a tongue-in-cheek "game", and its good at that. But I would argue that the proper mechanism for the random-pattern is a random-walk of the %increase or %loss at each step, and not the uniformly-varying price that's rather easy to game. ---- Perhaps this "game" is more fun with a uniformly-varying price however.
> random-walk of the %increase or %loss
If you randomly add or subtract x% at each step the price tends toward zero (100, 50, 75, 37.5, …)
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#14Related story: I was almost kicked out of a fintech interview in the late 1980's, when I mentioned that there was room to question Black-Sholes. I was thinking of an article I had read about "variance noise" in a scientific publication.
VIX is now a how many billion dollar industry? (Not that that defeats Black-Sholes.)
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#15Related story: I was almost kicked out of a fintech interview in the late 1980's, when I mentioned that there was room to question Black-Sholes. I was thinking of an article I had read about "variance noise" in a scientific publication. VIX is now a how many billion dollar industry? (Not that that defeats Black-Sholes.)
Can you elaborate more? That sounds quite interesting!
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#16The stock market in the X3 game works similarly I think, by moving the prices of the available assets within a given price range, making it very easy to abuse and grow your ingame wealth.
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#17Related story: I was almost kicked out of a fintech interview in the late 1980's, when I mentioned that there was room to question Black-Sholes. I was thinking of an article I had read about "variance noise" in a scientific publication. VIX is now a how many billion dollar industry? (Not that that defeats Black-Sholes.)
Can you elaborate more? That sounds quite interesting!
[deleted]
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#18Related story: I was almost kicked out of a fintech interview in the late 1980's, when I mentioned that there was room to question Black-Sholes. I was thinking of an article I had read about "variance noise" in a scientific publication. VIX is now a how many billion dollar industry? (Not that that defeats Black-Sholes.)
Black-Scholes still is a dumb pricing model, I feel like an options pricing model should factor in the liquidity of the underlying asset and Black-Scholes and other pricing methods I have seen do not. Even though implied volatility is hand waiving away every variable not known, even that is not factoring in underlying liquidity.
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#19This is not possible to implement such idea. Every one buy it in minimum and then wait until a random high value accepted. The other users know this algorithm and the price is not based on computer price and a new market price will generate by the users.
Re: Show HN: RandomCoin – A cryptocurrency that changes its price every second
#20allow users to save their holdings to a "wallet". then ability to sell/transfer coins and we have ourselves a working crypto
note. how about a total supply so limit number of coins in circulation and a coin burn mechanism to reduce supply slowly, maybe with each transaction, transfer