When you were planning development budget of 850 BTC, bitcoin price was lower. On top of that, you have collected more than what you need to develop the BlockNet. Therefore, you should have excess funds that you could use for the buyback and support the price. Why don't you spend 100 BTC or so on the buyback?
That is 364.38012183 BTC ~ 150 thousand USD.
Have you considered to sacrifice (bittrex 7.8 + poloniex 3.6 + bter dust) / total =
only
3% of your immense gains, to stabilize the trading back to ICO prices?
That would immediately stop a lot of complaints.
You believe in your project? Then buy up some of your coins, for cheap.
EDIT: And you probably need less BTC, once the market understands that the trend towards 0 Satioshi is reversed.
A buy wall is actually something we've considered cursorily.
It's not a bad idea - and neither is it a bad idea for the Foundation to be invested in BLOCK.
We'll let you all know if we decide to do this. It makes a degree of sense.
(Hint: might wanna avoid selling at a loss until we respond to this...)
Hey Arlyn,
about the buy wall thing, I wouldn't consider putting it above 1/2 of the ITO price. and only with a max of BTC of the difference between the min of 850 and what was actually raised.
After all, this was a sort of crowd funding of the development of some new technology. If someone wants to get out right NOW he/she should not get a full refund. If I fund a project on, let's say, kickstarter.com once the funding is successful, there is no way investors get funding back other than waiting until the product/software is finished and then claiming their tier 'pledge'.
And here we invested in new technology, which will only give investors some revenue once it is fully 'in action'. Reinvesting as a foundation to profit more from uptrends seems reasonable to keep the motivation high. But there is no point of letting investors drop their share without a loss at this point.
Best, Axe