Re: destruction of coins to reduce float.
I just realized that Cryptsy probably has the most coins and most of those are probably the interest coins. I think if they destroy a large chunk of the interest coins they have it will be a win win for Cryptsy, and everyone invested in CENT. If anyone knows Vern, pls forward this idea to him and see what he thinks. Thanks
Lol. How would destruction of trillions of their own coins be a win for Cryptsy?
Why wouldn't they rather buy up even more at the rock bottom price of 1 XPM-Satoshi and when they're done accumulating then they announce a 4th market using CENT which would take cent up at least 5 fold, especially if they remove their trillions off the market and then slowly unload their large share over a period of mo ths into any major buying price spikes.
That's the smartest move unless you'd go destroy large chunks of your coins to help out everyone else.
If they were to dump all those on the market we would be right back where we are. If they destroy a large chunk of what they have, the price goes up and hopefully stays there. Like I said in a previous post, destruction of 1/3 seems to be a good ratio. For example if they destroy 1/3 of their supply they got for free (from interest) or bought cheaply say at ~1, the price goes to ~4 (or much higher) they will still make a profit. In their case they may still profit if they destroy 80%.