alright, pump the brakes. Let's not get too excited here. It was just an announcement. Let's see how the buyback is conducted and find out what happens to the price. After all, the buyback may generate more value (versus a dividend) to the ICN holder. The real excitement will start when ICNX opens up to the public. Take your time ICONOMI. ICNX will be a big time product. If the release is done correctly there will be a flood of money - professional and eventually institutional investors.
Keep up the hard work ICONOMI.
AJ
What's your rationale behind that?
It provides more liquidity to the ICN market. If there are buy/burn walls in place on the orderbook, it makes it harder for pump/dump groups to do a big dump and panic others into dumping to their lower buy orders with a fud campaign.
Also 200+ ETH per year saved vs. sending out weekly dividends will be enough to hire 1 or 4 team members if ETH goes up to $500+ within the next few years.
Plus the legal and tax issues that have been circumvented may make ICN more appealing and accessible to a wider audience.