Quote from: Penn.3D on April 01, 2015, 10:00:48 AM

Quote from: odyjm on April 01, 2015, 09:09:33 AM

https://twitter.com/SMACteam/status/582993577522806785

Correct me if I'm wrong but, isn't a buyback supposed to buy into (eat) the sell orders? For what I see the SMACteam simply put a buy order, below the ICO price ?

Are you gonna do this at each buybacK?

Excuse me but I don't understand this.

Yes each buyback will be in the form of a buywall at whatever the current market price of the coin is. And no, you don't understand....a buyback is not supposed to eat into the sell orders. THAT would make absolutely no sense!

Having a buywall provides support for the price. Right now, as soon as the dev puts a buy wall up, some moronic kid sells all of his coins figuring he can immediately place a lower buy order and make a profit. But that can only happen as long as dumpers have enough coins and enough will to sell to that stupid kid's lower buy wall. At some point, the dumpers no longer have the coins and/or will to sell to that stupid kid's lower buy wall and now that stupid kid that dumped into the dev's buy wall is stuck with BTC and the dev now has that stupid kid's SMAC....which is good for the dev and even more important, good for the coin (less coins floating on the market).

In fact, as I type this there is a 2 BTC order at 7000 which very well could be yesterdays dumper trying to make a profit. However, at the time of this writing, you will notice that his order is not being filled. So if indeed that 2 btc buy wall is yesterdays dumper trying to make a profit, you can see how that plan is working out for him, lol.

And of course once the buy walls become so large that the dumpers simply don't have the coins and/or the will to dump into them, then anyone who wants coins after that will either have to place a HIGHER buy wall, or alternatively they can purchase from the sell orders....either way the price starts to go up.

And once people realize that each month, SMAC is placing larger and larger buy walls on their coin, people are going to want coins in a big way (especially with such a low supply) which means ever increasing buy walls and ever increasing numbers of people buying from the sell orders.

Get it?

And that's not even taking into account phase 2 which has the potential to be equally if not more exciting than phase 1 (read the OP for details) !

Are you starting to see why some of us are so excited about this coin?

game, set, match!

very nice