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StarPool Exchange / SPC Info
#1
StarPool Exchange / SPC Info


How does it work?
As you do actions on the forum you earn SPC (StarPoolCoin). This coin is totally independent to all other altcoins and will only exist on this site. I made this coin / point system to reward members of the community, as well as to drive users to the community. It means that people who don't have the ability to mine or gain coins via conventional means can still earns coins a different way, this system is very unique to StarPool Hub.

StarPool Exchange, I don't get it?
This exchange here is based on the total amount of coins that are available on the site / in circulation. As a member of the community you will be earning coins from many different actions (find more out here on what earns you coins: SPC News and at the SPC Shop). So as the community grows and more content is added, the more coins that are earned and circulated.

Other exchanges?
The coin itself has only a value to this community, so you will not find it on crypto exchanges such as poloniex or nova. 

What can I do with SPC?
At the moment you can use SPC to: 
  • Purchase Items from the shop. 
  • Trade with other members. 
  • Exchange SPC for other alt coins from the SPC Exchange or other members. [*WIP*]
  • Buy timed subscriptions to the site to gain access to VIP area's and other site options not available to normal members.
  • Purchase hidden content from other members posts.

Value of SPC?
The value of SPC is based on the community and what the community has to offer. SPC does actually have a value outside of the community / site! As of the start of next year 01/01/2018 SPC will be available to trade from the site in to the following coins:

Bitcoin [BTC]
Denarius [DNR]

So far the site has 100 DNR Invested. Donations are welcome from members if they wish to help the community. PM RecoStar for more info.

The exchange rate has not been set yet, and will all depend on the supply of the current SPC in circulation. We are currently testing a few variations of what we predict the price will be based on steady use of the forum. We are looking at:

1 DNR = $0.60 = £0.47
5 SPC = 1 DNR

1 SPC = $0.12 = £0.10

We are also trying to incorporate BitCoin purchases for SPC with in the site with the following pricing:

0.00003 BTC = 1 SPC = 10p

0.00015 BTC = 5 SPC = 49p
0.0003 BTC = 10 SPC = 98p
0.0006 BTC = 20 SPC = £1.96
0.0015 BTC = 50 SPC = £4.89
0.003 BTC = 100 SPC = £9.78
0.03 BTC = 1000 SPC = £97.79

There is a option to sell you content on the forum, so if you have some tips or news on anything at all, you can sell that content to buyers with SPC.

How will it work selling my SPC?
We hope to automate the system in the future as we are working to add a system that will work with the blockchain of different coins. But for launch it will be a manual process! Two exchanges will exist in a sense. One will be from the site itself and other will be trading with other members of the forum / site. Both being policed!

  1. So with in the exchange you will put a request to sell some of your SPC to an available coin such as DNR. You set how many SPC you wish to sell and the address to the coin you wish to exchange for. A team member will then preform the trade with you, This is done by you sending your SPC to the exchange profile which will be listed, then the member of staff will send you the coin you purchased!
  2. The other way done is by member to member trading which is a little different. A slight bit of risk is involved if you do not know this person, but we will police this! Lets just say I want to sell 20 SPC for a total of 4 DNR. The person buying the SPC will send his DNR to the address that the sellers states, once the seller has the DNR, he then sends the buyer the SPC on the site. This way means that if anything happens it can be traced. We will be able to see the transaction on the blockchain for the sending on the DNR coin, and if the member does not pay up his SPC, we can take the SPC from him and give it to the new rightful owner. This process will be written in more depth on the trading section.
Also members will be able to rate other members based on good or bad trades on their profiles. This will encourage people to do fair trades to get ratings. As well the site also has a trading groups based on level. So the more you trade and become a good trader, the higher the trading level you become and seen by other members as a trusty person.

Any scammers will be instantly banned from the site / forum with SPC being removed from the account!

TBC
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