Post
Topic
Board Announcements (Altcoins)
Re: [ANN] QIBUCK COIN - X13 - POS/POBH - 1st Proof of Baghold and asset backed.
by
poornamelessme
on 13/08/2014, 07:44:00 UTC


You're not thinking about it correctly.  It is a 25 BTC profit.  They short sold their own coin at .0002 and are buying it back at .0001.

You don't get those opportunities that often.  It's a good one.

Also, a multipool might work if there are a number of supporters, but judging by how quickly people are jumping out the window to get away from this, I'm not even sure it will pay for itself.

I'm thinking of it as:

They don't buy any coins at all, they made 50 btc.

They buy back the coins, they made 25 btc + coins.

It's only a greater profit if they can then sell those coins for more than they paid for them (.0001). Or if they burn them and then valuation increases. It is possible, of course. Again, I wouldn't just jump into doing that right now if it was me. And a lot of people are so eager to dump because they went in with the typical ICO mindset. They wanted 2-4x profits right away, and when that didn't occur, decided to bail.

I'd at least give it more time before considering the wall. The devs could get their act together, buy up some more assets + start on some new coin features and get the coin on other exchanges, which possibly could increase valuation enough to not require a wall. Throw in a multipool + some price stabilization... it might be enough.