Yes. Buybacks means constant buy support in the market.
Wonder what would my uncle say about this
Moi?
Let's put other arguments aside, and focus on a more constructive discussion... The buy back orders are apparently only going to be placed below the last price - which I'm not entirely sure on...
For example, I came across this 'APX ventures', who are using a buyback system too, but their approach is different:
70% will go towards market buys on exchange
20% will go towards buy support @ 10% below market price.
10% will go towards the APX Liquidity Fund (ALF) which will held as BTC off-exchange, available for anyone to access if they wish to convert their APX for BTC without disrupting the market.
All APX acquired through this process will be verifiably burned.
Source:
https://drive.google.com/file/d/0ByqyVzIU5PtFLXp2UGZPcUFYd1U/viewThe liquidity fund idea is interesting, but I'm mainly drawn towards the fact that they will offer market buys, as well as buy support.
I'd be interested in people's thoughts on this approach - is it better or worse? Has this been discussed on the slack at all, or with the team?