I think icn is an amazing project but I have bad feeling bout the tokens
I don't buy devs saying they have to keep quiet about icn usage until they release more daa info.
It was always meant to pay dividends and now it can't they don't know what to do
Yeah buybacks and maybe you need to hold some in the platform somewhere but the token is pointless right now
Be careful anons
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Its comfirmed by the devs that ICN must be used AND burned to create DAA.
Apparently you are a poor fag.
>but the token is pointless right now
Duh, the whole concept behind ICN hasn't even been activated yet.
But it is taking shape and showing lots of promise.
Im sorry user, this this the equivalent of selling bitcoin at 10 dollars
This was my first thought of when I read the OP. 95% of Veeky Forums have absolutely no patience whatsoever, it's actually kind of sad.
Like waves which is pretty shit now
I bought 3k coins at 0.4$
So no
I agree that buybacks are trash compared to dividends. Dividends wouldn't allow for whales to suppress prices since we could just buy their sale-price tokens and watch them shit Eth. What we have now is buy-backs that might get as high as 5% of the daily trade volume for the coin. I base this number on 3% of 200 million in assets.
This coin requires utility that people can speculate a value on. That value has to be really obvious if we're going to fight the whales for it.
Having to burn ICN to create DAAs will only add to the very tiny trade volume. It has to be something in-platform that the casual investors will need.
Right now, the max trade volume on this coin is about 300-500 thousand coins per day. That is such a small amount of what's in circulation that the burn rate won't touch it till the whales decide it should.
Buybacks are actually better than dividends, I won't go into why. But any smart investor knows that.
ICN will be $25 by the end of the year.
The devs have said that the buyback thing is less than perfect, but a fair way of distributing the gains they're already making. It's also not fully dependent on exchanges like dividends would be, which is a very good thing at this stage.
Remember that the basic concept behind ICN hasn't even activated yet, there's not much to evaluate at this point except the very good stability so far and the promise being shown by the latest developments and dev commitment.
Explain? I'm an idiot who believes in the promising project.
I get it for stocks but crypto is manipulated and unregulated. Add to that that Iconomi says they will not go above 20% of transaction volume and are trying not to move ICN's price and all we're left with is buybacks have better taxation.
Right now buybacks aren't helping with price discovery as much as dividends would.
I really hope you're right that buybacks will be enough.
Lol
Share buyback yes
Coin buyback when the market cap is already way above what the company is worth.... no m8
Bump because I want to know.
isnt a low price good because that way they get burnt faster?
This guy gets it.
If they hit their target for this year (200 million), they will be burning about 5500 tokens per day. That sounds like a lot but it's really not. Today on Kraken, about 250000 tokens worth of transactions happened. I have no idea what burning 2% of one exchange's tokens each day would do, but keep in mind there's 80 million+ tokens to replenish from if someone wanted to play the 3 dollar game forever.
Actually I just mathed the dividend on 3% of 200 million across 100 million shares and it isn't great either (6 cents). That's 2 percent of 3 dollars. Odd that that's what it's worth now.
I guess that the coin needs utility within the platform to justify valuation. Or Iconomi needs to be fronting billions of dollars in assets.
The 250k worth of transactions are more or less back and forth at the same price, while 5500 burned would be exclusively buying pressure. After let's say 20 days and 100k tokens, I think that would already start making a clear difference. We can also look at the volume of tokens currently listed for sale to get some idea of what would happen.
There's about 120K ICN in play on Kraken right now. If 5K were being siphoned off each day, I can see a case for the whale wanting to allow price discovery. With 86 million circulating supply I have my reservations.
Here's hoping that price suppression is in proportion to Iconomi's earnings and that these large holders will be comfortable allowing price discovery. If they quintuple their earnings and price goes up 5 fold, I will not complain.