The buyback mechanism really have good effect on dumpers trying to dump their tokens ,lately two projects I promoted started buying back their own token from bounty hunters or big whales who wants to sell off and move on ,the first project is miracle tele project and the buyback is already on going ,the second one is about to start and the name is CHELLE Coin, buying back tokens is a brilliant idea what do you guys think?
buyback did increase coin prices but it was only temporary, because buyback did not make coin prices continue to increase, so in my opinion the buyback only had a good impact for the short term and the price might fall again, but at least a buyback can reduce the risk of falling coin prices too far, therefore many projects do not make a buyback and use the money to develop the project, because the prices will increase by themselves and of course the increase will last for the long term if the project from the coin has very good progress.
Exactly, it is just delaying the inevitable, just a temporary solution, but eventually the dump will be forthcoming, so I doubt that this will be a good solution in the long run.
Although, I like this practice coming from a project, it means that really don't want their tokens to tank in the market, but dumpers will be dumpers and as long as they can make money then there's no doubt that they will do it in an instant.