well now we know
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@Dillion They wanted to keep the price down and allow a slower growth in the value of Burstcoin to prevent the bloodbath that's going on in the AE. I understand the motivation. But they failed, the price sky-rocketed, and despite the rise in the value of Burst, the US$ value of my asset portfolio has gone down by tens of thousands of $. They did the wrong thing with the right intention, and showed how we better need to educate our investors.
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@haitch That's their problem if their investors are confused as to why the rising value of the coin lowers dividend payments in the amount of coins paid. That's the job they wanted. However don't try to JPMorgan our coin then turn around and dog it.
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How much did it say Crowetic sold as a result of this "strategy"... was it 4 million BURST? Not to discount that but doesn't he own much more personally?
And no matter how you cut it, even if he sold in the 300 sat range... I imagine it's still probably a decent profit in terms of USD? He just sold "low" during the rise and misjudged that.
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@Dillion The bloodbath has hurt all asset owners - and asset investors. Like I said, they did the wrong thing with the right intentions. Before condemning them, realize they were doing what they thought was best for the whole community.
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@haitch sir im confused on how keeping those of us that have been holding these coins for months from making some dam good money benefits the whole community? I don't think we can see eye to eye on that one.
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@burst1 They didn't say, but from the transactions I've seen, it was potentially in excess of 30M Burst. If that's accurate, and they had the wall at 310 Satoshi, and the coin hit 940 Satoshi, that's a potential profit loss of around US$335,000
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@haitch think they said 24million in the video.
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@Dillion I've been holding coins for years. A steady rise in the value of Burst allows the AE and investors to accept the new prices and adapt. This sudden rise has people bailing out of assets to get a return, causing the bloodbath we're seeing on the AE. The sudden rise and liquidating of shares has devastated asset prices and devalued my asset portfolio by over $20,000, despite the increase in value of Burst. That wouldn't have happened with a slow rise, or with investors who realized that they're still getting the same fiat return that they were previously. The whales are going to have an awesome time buying up the undervalued assets caused by shortsighted selling.
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@haitch said in well now we know:
@burst1 They didn't say, but from the transactions I've seen, it was potentially in excess of 30M Burst. If that's accurate, and they had the wall at 310 Satoshi, and the coin hit 940 Satoshi, that's a potential profit loss of around US$335,000
lol let's not exagerate :)
7 mil. that was was what got sold at 310.
as i said...worst case scenario we'll take a personal loss and make up for it. burst is plummeting , hopefully we can repair this fuck up at little or no cost
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@haitch I understand. The way I see it it's part of the economic system that why I say only keep 10% in assets. If the USD could rise in value a micro 5% a year what would the NYSE look like? Probably a ghost town compared to today.
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@haitch said in well now we know:
@burst1 They didn't say, but from the transactions I've seen, it was potentially in excess of 30M Burst. If that's accurate, and they had the wall at 310 Satoshi, and the coin hit 940 Satoshi, that's a potential profit loss of around US$335,000
I understand that. But more than likely they are still in profit ... selling at 310 sats, based on the history of BURST is still probably a good profit based on what their actual cost basis was.
Point is, their strategy may have been poor... but more than likely these guys made money (in terms of USD)... just didn't make as much money as they could.
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@nameless The BlockEx show's him moving around 16M Burst to Polo, leaving his account completely empty.
http://burstcoin.biz/address/7903554437097020568
This and other accounts, I've totalled over 27M Burst being sent to Polo.
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@haitch funds getting sent to polo doesn't mean funds sold :)
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@burst1 They're not broke - but they sold at 310 when the coin went and hit 940 - the difference between what they sold at and the ceiling is their lost potential profit.
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@haitch said in well now we know:
The whales are going to have an awesome time buying up the undervalued assets caused by shortsighted selling.
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@Dillion I guess we're just looking at it from different POV's - you're looking at it as suppression of the value of the coin, I understand it as an attempt to prevent devastation to the AE. I understand your POV, this was an attempt to manipulate the value of the coins we hold, but I also understand WHY they tried to do it - it wasn't an effort to steal from you, it was an effort to stabilize the market. Would I have gone along with the scheme? No. I think it was the wrong approach, but understand the motivation. We need to better educate AE investors instead.
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What @SocalGuy said - investors with a clue will be buying up the assets being sold at bargain basement prices, and going to bed with a huge smile on their faces.
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@haitch said in well now we know:
@burst1 They're not broke - but they sold at 310 when the coin went and hit 940 - the difference between what they sold at and the ceiling is their lost potential profit.
I understand potential profit. I sold Facebook shares and made 4x my money ... had I held longer I could be selling at 7x today.
And unless everyone cashed out at 940 (I actually saw 969 on Polo) ...then everyone missed out on "potential profit". No one buys at the exact low and sells at the exact all time high.
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@burst1 yeah, I know no one can predict market peak, but given the coin market cap this was a huge loss. More than 200% of potential income? Damn. I sold Burst at prices I now regret, but nothing at this magnitude.
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@haitch said in well now we know:
@burst1 yeah, I know no one can predict market peak, but given the coin market cap this was a huge loss. More than 200% of potential income? Damn. I sold Burst at prices I now regret, but nothing at this magnitude.
Well... technically every BURST you sold in the past could have been held and sold in the 900 sat range this weekend... it applies to everyone. :)



