There have been some major announcements in regards to CAIx that I’m sure you all want to know about. Not in regards to the price, as that is clearly being manipulated by people with very big wallets. Read on!
As you know, the idea from the start was to have multiple revenue streams for CAIx. The first successful operation was the Tiny Elementals game, which brought in a total of 28 Bitcoin (4 Bitcoin game revenue, and 24 Bitcoin from an investor).
After this announcement was made, new investors got interested in the CAIx project, and made a very lucrative offer.The new project is called “PSP”, which i’ll explain in a bit. The part you’ll be mostly interested in concerns three KnC Titan Miners.
Yes, you read that correctly, three KnC Titan Miners will be donated to the “PSP” project, and will bring a ton of revenue by mining at the CAIxPool. That’s nearly 1 Gigahash of Scrypt mining power, worth roughly $30,000.
So what is this “PSP” project I keep referring to? “PSP” does not stand for PlayStation Portable, but it means “Price Stability Program”. In very simple terms, there is a plan set in motion to keep the CAIx price at a constant level, at all times.
By scaling the supply of CAIx relative to the demand for the coins, a stable price can be achieved. The revenue generated by the three KnC Titan Miners will be used to buy up CAIx on exchanges, and if the price is too low, those coins will be removed from circulation.
How will the coins be removed? Simple, by sending them to a wallet, or multiple wallets, to which no reasonable private key can exist. I want to give you a quote, coming directly from the Price Stability Program document :
“This wallet address could be accomplished by adding strings of characters in the address that are far beyond the capability of what could be generated as a vanity address. For example, if the public address contained “These Coins Are Forever Destroyed” this would clearly be beyond capability to find a corresponding private key.“
This, or these, wallet(s) address(es) will be made public, in order to ensure credibility of the program. We all would love to see a lot more transparency in the world of Crypto, so this would definitely be a good start!
There is a lot more information and graphs in the document, which you can find below this article, if you wish to check it out. The plan is to have CAIx stable at a value of 469,452 Satoshi. (Although higher wouldn’t be bad either!)
Personally, I’m very impressed by the way Caishen turned into CAIx and how it will continue to grow in the future. We will keep a close eye on the situation, and will keep you updated as we receive more news.
Before I forget, make sure to check out the new CAIx website, which looks absolutely gorgeous!
Price Stability Program Document : https://drive.google.com/file/d/0B_zHV0w2a6jVWWY3Q0JuS3UyblU5MDZsdVhSMFo3aHlwd2tR/edit?usp=sharing
CAIx donations are welcome to : XbcKkjXP5VcGMG9mooL3WaFkAjAEbeLAVA