Re: [ANN][Blocknet] The internet of blockchains | XBridge | true cross-chain P2P
It seems to me that it's irrational to want the price of BLOCK to be higher.
BLOCK isn't a normal coin - no one is pushing for it to be accepted by merchants, no one is promoting BLOCK for charity, etc. - it's simply a receipt for supporting the ITO, and its only value is in how many NHZ assets you can exchange it for when Blocknet is a reality.
The price of BLOCK doesn't have any bearing on the project either, unless I'm mistaken; the devs are getting paid from the BTC or other supported altcoins when people paid for BLOCK in the ITO. They aren't getting paid in BLOCK, right? After the ITO, the price of BLOCK could go down to 1 satoshi with no detriment to their development efforts.
Thus, it really seems like we should be hoping for the price of BLOCK to be as low as possible, in order to scoop it up cheaply. The only reason to want the price of BLOCK to be higher is if you want to sell it for profit before Blocknet (which is valid, but I would think most holders are interested in getting paid by Blocknet's NHZ assets; otherwise why not just invest in a normal coin?).
I'm writing this because I don't understand the desire to have the devs put up a buy wall for BLOCK. If the price of BLOCK goes back to ITO price or higher, it doesn't affect the project's funding at all, but it makes it more expensive to acquire BLOCK for users, correct? Let me know if I'm missing anything.
BLOCK isn't a normal coin - no one is pushing for it to be accepted by merchants, no one is promoting BLOCK for charity, etc. - it's simply a receipt for supporting the ITO, and its only value is in how many NHZ assets you can exchange it for when Blocknet is a reality.
The price of BLOCK doesn't have any bearing on the project either, unless I'm mistaken; the devs are getting paid from the BTC or other supported altcoins when people paid for BLOCK in the ITO. They aren't getting paid in BLOCK, right? After the ITO, the price of BLOCK could go down to 1 satoshi with no detriment to their development efforts.
Thus, it really seems like we should be hoping for the price of BLOCK to be as low as possible, in order to scoop it up cheaply. The only reason to want the price of BLOCK to be higher is if you want to sell it for profit before Blocknet (which is valid, but I would think most holders are interested in getting paid by Blocknet's NHZ assets; otherwise why not just invest in a normal coin?).
I'm writing this because I don't understand the desire to have the devs put up a buy wall for BLOCK. If the price of BLOCK goes back to ITO price or higher, it doesn't affect the project's funding at all, but it makes it more expensive to acquire BLOCK for users, correct? Let me know if I'm missing anything.
It is not surprising that people who spend good money on something expect to see the value hold. The long term expectation is for a gain, and even though most people understand that there is a big risk and they could lose their investment, seeing a huge drop in value right at the moment of the IPO completion is disturbing. The current trend in so much crypto for projects to be revealed as scams is always in the back of our minds.
Think of it this way; if it were the stock market the shareholders would be demanding the resignation of the chairman of the company if the stock price declines by a lot; or at least demand an explanation.
I am not trying to undermine trust in the project, I believe in it and hold a good number of the coins as well. But I do feel that it is not unreasonable for people to express concern and request action be taken to demonstrate good faith to respect their contributions to the project.
