“I wish I could buy a car with an unknown virtual cryptocurrency,” said no one ever.
That hasn’t stopped the intrepid ‘Dev‘ behind V8 from introducing his new altcoin to the eager citizens of Altcoin City.
As the ANN thread so succinctly puts it: “V8 is a coin that will focus himself on the automobile market. We don’t want to rule the world but we want to rule the automobile market, so if someone want to buy a new car that they say, can i pay with V8 please.”
“Can I pay with V8, please?” Six little words that will change the face of the car industry and cryptocurrency movement forever.
Or maybe pigs will sprout wings and fly.
Which event do you think will happen first? I’m voting on the pigs taking flight.
What’s Interesting About V8 The Car Coin?
One thing that is interesting is the idea that the ‘Dev‘ is going to add anonymity to his currency. After all, most people who make very expensive purchases like to make sure their transactions are completely off the grid.
That way if they have trouble, they can just lose their money quickly and quietly!
Whether the ‘Dev’ will be financing the cars himself remains to be seen. Given the current climate of new altcoins I would not be surprised to see him claim that he’s creating a ‘Foundation‘ that will offer auto financing. If not, he can team up with DebtCoin. The two imaginary loan companies they’re setting up could support the imaginary V8 Car Coin.
This could be the start of a whole new imaginary Toyota!
Imagine how much the imaginary investors will earn!
Oh Yeah, There’s An IPO Too
If the speculative investment in V8 is not risky enough for you, relax. There’s also an IPO you can put your funds into.
Yes, you heard it right. V8 is going public!
- Total Number of POW coins : 10,000,000
- Block rewards : 500
- Number of blocks : 20000
- Block Time : 120 sec
- Confirmation : 20
- POS : 1% yearly
- Premine : 1% = 100,000 V8
- IPO : 3%= 300,000 V8
- First 50 blocks reward will be 1 V8
In addition to the 3% IPO there will be a 1% premine. That means 100,000 V8 will be created at launch. The ‘Dev’ will be in a position to dump those coins on the market as quickly as possible, which could push the price down.
Premines and IPOs both increase the risk of trading V8. Throw in the lack of development and the unknown reputation of the ‘Dev’ and an investment in this coin is on par with ‘rolling the dice.’
CarCoin will be launching at some point today. We’ll keep our eyes peeled for details.
Thanks for stopping by and reading.