What coin supply do I keep for myself?

[Agena_]

 

At exactly 12:06 you can see that he keeps some coins for himself and sends the rest to the coin contract address for people to buy, he sends 6,000 out of 10,000 coins

 

If i have a coin of 10 billion supply, whats a good amount to keep for myself? whats the common number?

Also, whats the point of the owner keeping coins, is it to sell when they need to fund the project? Whats it mainly for

 

Thanks

 

[Spotty]

1 minute ago, Agena_ said:

Also, whats the point of the owner keeping coins, is it to sell when they need to fund the project? Whats it mainly for

Pump and dump schemes As an investment to sell later when prices are higher.

 

5 minutes ago, Agena_ said:

If i have a coin of 10 billion supply, whats a good amount to keep for myself? whats the common number?

The creator of Bitcoin supposedly kept around 5%, or around 1 million of the 21 million total supply.

If you are planning on creating your own cryptocurrency you may as well keep all of it as there's essentially zero incentive for others to invest in it.

[IkeaGnome]

I like the name of the coin.

[Agena_]

4 minutes ago, Spotty said:

Pump and dump schemes As an investment to sell later when prices are higher.

 

The creator of Bitcoin supposedly kept around 5%, or around 1 million of the 21 million total supply.

If you are planning on creating your own cryptocurrency you may as well keep all of it as there's essentially zero incentive for others to invest in it.

If I keep all, no one will buy?

If someone wants to make a proper project with use case. Are you saying ideal is 5% of supplY?

[HanZie82]

2 minutes ago, IkeaGnome said:

I like the name of the coin.

I dont know if it's the name but "stuur tokens" reads to me (im Dutch) "send tokens".

[Agena_]

@HanZie82

@IkeaGnome

@Spotty

Whats a good supply to have if im making a BEP20 smart chain token?

[IkeaGnome]

1 minute ago, HanZie82 said:

I dont know if it's the name but "stuur tokens" reads to me (im Dutch) "send tokens".

It looks to me like FOMO if you look at the assets a little bit down. 

Just now, Agena_ said:

@HanZie82

@IkeaGnome

@Spotty

Whats a good supply to have if im making a BEP20 smart chain token?

How much do you think it's going to end up trading for, and how much money do you want to make at that amount?

[HanZie82]

2 minutes ago, Agena_ said:

@HanZie82

@IkeaGnome

@Spotty

Whats a good supply to have if im making a BEP20 smart chain token?

I don't know, if i would make my own token i would think firstly very hard on "why would people buy it". And from there on think on the level of what you're gonna keep.

Also transparency is a thing, i like it, sure other do too. So whatever you do make sure its all well documented so possible buyers can see what they get themselves into.

 

1 minute ago, IkeaGnome said:

It looks to me like FOMO if you look at the assets a little bit down.

Ah thanks, i totally missed that. Indeed a pretty good name.

And now i take a little closer look, i should've seen it, the info is there.

[Agena_]

4 minutes ago, IkeaGnome said:

e FOMO if y

FOMO is the coin the person made in the video

 

4 minutes ago, IkeaGnome said:

How much do you think it's going to end up trading for,

I dont expect to make a big amount of money. I would be happy if the coin trades below $1, or greater than $0.10?

I'm just making a token for fun but will have a use case, in the future I will market it and properly market the coin. So not sure about what price I want it to trade on.

 

I'm thinking of a charity coin, where a percentage of a transcation goes to a charity. But that's inital thought, could do something completely different. 

[Spotty]

1 minute ago, Agena_ said:

I dont expect to make a big amount of money. I would be happy if the coin trades below $1, or greater than $0.10?

I'm just making a token for fun but will have a use case, in the future I will market it and properly market the coin. So not sure about what price I want it to trade on

If you are keeping 5% of the 10 billion total supply of a coin traded at $1 that would mean you would be holding $500 million worth of coin...

[Agena_]

Just now, Spotty said:

If you are keeping 5% of the 10 billion total supply of a coin traded at $1 that would mean you would be holding $500 million worth of coin...

so that I'm assuming people would not like, but what if the coin traded at like $0.10

and then jumped to $1, the owner has no control of price. Does the owner send more coins to the contract address so lessen the amount he has and make people happy?

[Agena_]

16 minutes ago, Spotty said:

If you are keeping 5% of the 10 billion total supply of a coin traded at $1 that would mean you would be holding $500 million worth of coin...

is there any place to see the amount of coins the owner has for any token? Like is there a way to see on coinmarketcap?

[tikker]

30 minutes ago, Agena_ said:

I dont expect to make a big amount of money. I would be happy if the coin trades below $1, or greater than $0.10?

I'm just making a token for fun but will have a use case, in the future I will market it and properly market the coin. So not sure about what price I want it to trade on.

You don't decide what the coin will trade on. The market will. As a token "for fun" you are one of thousands. It needs to be useful and have a purpose if you want it to gain appreciable value now. If it doesn't then you aren't really any different from any other random coin out there. Before you are going to create one, you'll need to think about (as other's pointed out) what problem are you going to solve and how are you going about it that makes your coin better suited for it than others. What purpose does the coin itself serve, should it even have substantial value and why? For example, ETH is fuel. You can argue it was never supposed to be worth $4k a coin. On VeChain the fuel is VTHO, which is basically worthless at $0.004 per coin, and rightfully so because it's simply to fund the transaction and nothing more.

30 minutes ago, Agena_ said:

I'm thinking of a charity coin, where a percentage of a transcation goes to a charity. But that's inital thought, could do something completely different. 

That would mean you'd have to reroute transaction fees to go to something else instead of the miner's wallet. I'm not sure if that's even possible without modifying the underlying blockchain, so I'm not sure if that's even possible on one of the current chains.

3 minutes ago, Agena_ said:

is there any place to see the amount of coins the owner has for any token? Like is there a way to see on coinmarketcap?

Yes, the blockchain. You "just" need to know the wallet address where it's stored.

[Agena_]

1 minute ago, tikker said:

transaction fees

Can't you reroute to another wallet of mine (for example) which goes to the charity?

 

So if im just starting a coin, should i just keep 5% of the 10 billion supply? Or less?

[tikker]

5 minutes ago, Agena_ said:

Can't you reroute to another wallet of mine (for example) which goes to the charity?

You could, if you rewrote the blockchain's code to handle transaction fees in that way. For an ERC20 token that would mean you need to rewrite Ethereum to route part of the transaction fees to charity wallet. Also if you own that "charity" wallet there's bluntly said not a chance in hell anybody is going to believe it's for charity.

6 minutes ago, Agena_ said:

So if im just starting a coin, should i just keep 5% of the 10 billion supply? Or less?

That's up to you, just like the amount of coins. Why will your supply be 10B? What will the coin be used for? If it's a BEP-20 token you will be on the Bitcoin blockchain and still be paying fees in BTC. If it's an ERC-20 token you'll be on the Ethereum blockchain and pay fees in ETH with no control over what happens to those fees AFAIK.

[Agena_]

3 minutes ago, tikker said:

You could, if you rewrote the blockchain's code to handle transaction fees in that way. For an ERC20 token that would mean you need to rewrite Ethereum to route part of the transaction fees to charity wallet. Also if you own that "charity" wallet there's bluntly said not a chance in hell anybody is going to believe it's for charity.

That's up to you, just like the amount of coins. Why will your supply be 10B? What will the coin be used for? If it's a BEP-20 token you will be on the Bitcoin blockchain and still be paying fees in BTC. If it's an ERC-20 token you'll be on the Ethereum blockchain and pay fees in ETH with no control over what happens to those fees AFAIK.

 

I dont have as much knowledge, i saw that many coins have 10billion supply. 

I saw GRT (The graph, it has 10bn), which Im in so i did 10bn.

but just looked at another coin im in, has only 200,000 https://coinmarketcap.com/currencies/anrkey-x/

 

Im confused at what supply I should do, do you have any recommendations?

[Eigenvektor]

10 minutes ago, Agena_ said:

Can't you reroute to another wallet of mine (for example) which goes to the charity?

Transaction fees are intended to cover the cost of running the underlying infrastructure. If all of that is going to charity instead, you'll ultimately end up paying money for every transaction someone else makes.

 

10 minutes ago, Agena_ said:

So if im just starting a coin, should i just keep 5% of the 10 billion supply? Or less?

I'd say it depends on what market value you expect your coin to achieve. If the coin takes off, even 1% would be enough to make money a non-concern. If it ends up being irrelevant (the more likely result), it doesn't matter whether you're holding 5% or 50% of nothing. It'll still be nothing.

 

Just now, Agena_ said:

Im confused at what supply I should do, do you have any recommendations?

Less supply means each coin is potentially worth more, provided people actually are interested in mining it. But it also means there's less to go around, making it much harder to trade. Lost coins (e.g. key for wallet lost) will have a much greater impact when there's fewer of them.

 

But keep in mind while there's only 21M possible Bitcoins, the smallest unit is 0.00000001 BTC, so there's actually 2.1 x 10¹⁶ possible tokens to go around (minus those that were lost)

 

As others have said, you should think hard about why you want to create your own coin. What is it going to offer that existing coins don't? Without that, you're one amongst thousands (too late to the party to make any noticeable impact), and it will probably stay irrelevant. There's more important things to worry about first, before deciding on the total number of coins and how much of them to keep.

[tikker]

16 minutes ago, Agena_ said:

Im confused at what supply I should do, do you have any recommendations?

This is all part of what your coin is supposed to do and how it's supposed to be used. Will supply increase or decrease over time, or will it remain at / limited to a fixed number forever (e.g. XLM). In other words, you first need to properly define the purpose of you coin and how it will achieve it.

[Agena_]

15 minutes ago, tikker said:

This is all part of what your coin is supposed to do and how it's supposed to be used. Will supply increase or decrease over time, or will it remain at / limited to a fixed number forever (e.g. XLM). In other words, you first need to properly define the purpose of you coin and how it will achieve it.

 

1 hour ago, Spotty said:

If you are keeping 5% of the 10 billion total supply of a coin traded at $1 that would mean you would be holding $500 million worth of coin...

on remix.ethereum .org, I deployed my coin twice. with 2 different supplies. How can i delete the 1st one? I now have 2 tokens on bscscan