Introducing RandoCoin, the ERC20 token which randomly changes price about every 5 minutes. Prices will range between [0.00001, 0.01] ETH(about $0.01 to $10) per RAND. 1 RAND = 1000 randos, the smallest unit. This is an experiment powered by Smart Contracts. Do not use this for investing!
Note you cannot gain more than the amount above through selling.
Enter in how much ETH you want to spend.
Spending 0 ETH for 0 RAND
Enter in how much RAND you want to sell.
Selling 0 RAND for 0 ETH
RandoCoin is built using Smart Contracts, which are essentially programs that run on the blockchain. Learn more about Smart Contracts here. There is 100MM RAND in supply. Every 5 minutes, the price of RAND changes randomly between $0.01 and $10 per RAND (theoretical max gain of 1000X). The price starts at $5 so there is about a 50% chance that it will go up or down after the first price change. The first price will take 250 blocks to expire, to give people more time. 1 RAND can be split into 1000 units, called randos.
This is an experiment for simulating a completely volatile token. Also, I wanted to see how to build a decent UI around Dapps that is straightforward to use.
You will need an Ethereum wallet such as MetaMask, Mist, Parity or myetherwallet.com. I recommend using MetaMask since I developed the web experience around it. Here's a good video tutorial on the subject.
Good question! You are paying "into the contract." The contract itself stores all the funds and transfers it to wallets via buys and sells. The only way to get money in or out of the contract is via trading RAND.
DO NOT use this as an investment vehicle, it's worse than Tether. You could easily lose your money if the price goes up significantly and everyone sells their RAND. This is meant to be an experiment on volatile coin behavior.
I've set up a mechanism where users are responsible for manually refreshing the price after it expires. As a reward, you will get 0.1 RAND for successfully completing this!
It's coming from a future blockhash. During the 30 block trading window, you are trading without knowing the blockhash of the future block. After you reach the future block, a user is responsible for calling maybeChangePrice().