Ninjastic
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Board Announcements (Altcoins)
Re: [ANN][GB] $ GreenBacks $ ~ A Complete Currency & Infrastructure ~ LAUNCHED
by
GreenBacksTeam
on 31/08/2014, 23:54:58 UTC
Quote from: metagnosis on August 31, 2014, 11:48:11 PM
the 1500 support level has been broken.  I would not advise any of you to be buyers here.  Unfortunately the devs used up their defense fund early on, at around 500 which was a mistake.  They should have defended the 1500 level which is now broken.  This brings 700 into play and no guarantee that investors will return.  

https://twitter.com/CryptoGnosys/status/506211239232819200

Defense Fund? That is never something we talked about. What we did at 560 was buy 2.24btc worth of GB for the stabilization fund. That is a fund meant to accumulate ~10% of the coin supply in order to ensure network speed and security. The fund currently holds 385000coins, but it is in no way a defense fun. We just wanted to clear that up.