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
-
@haitch think they said 24million in the video.
-
@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.
-
@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
-
@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.
-
@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.
-
@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.
-
@haitch funds getting sent to polo doesn't mean funds sold :)
-
@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.
-
@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.
-
@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.
-
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.
-
@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.
-
@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.
-
@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. :)
-
@burst1 Yeah, but this was an admitted effort to manipulate the price of Burst, that potentially cost 1/3 of a Million dollars. Given the marketcap of the coin, this was a significant effort - but the market killed them
-
@nameless Oh I know it doesn't mean they were sold, which is why I said potentially. However that it was done over multiple transactions raises eyebrows in curiosity over what was going on.
Edit @Nameless - look at it from an outsiders point of view. Around 30M Burst is transferred to Polo from the parties involved in the scheme, things happen, the video comes out, basically chastising Crow then forgiving him, but throwing you under the bus, and admitting efforts to manipulate the coin price. I don't know what actually happened, and as I've repeatedly said - I understand why it was done, it just smells stinkier than lutefisk. And the potential scale of it given the transfer transactions make it jaw dropping.
-
@haitch said in well now we know:
@burst1 Yeah, but this was an admitted effort to manipulate the price of Burst, that potentially cost 1/3 of a Million dollars. Given the marketcap of the coin, this was a significant effort - but the market killed them
Yeah agree. That's the risk they took, and got gobbled up by the market. And what ever profit they got at 310, it looks small compared to what it could have been.
-
It kills me to say this , but both sides of the arguement have valid points.
Yes we want to see growth and profit for all, and also attract new people to the community, I see the side were we want a slow steady climb to consolidate Burst and yes also assets, we dont want to get into the pump and dump syndrome .
Yes long term holders should take profits, without question , but on the flip side the massive price growth does make people invest on impulse, whether they are old or new to the community, these new people see this and buy, then 2 days later there investment is 40% lower, they get pissed off basically, get dirty, dump to try and cut there loses, some will say its there problem, there decision, but some of these people are new to cryptos in general and are learning. This is the side were i see the slower approach, harbourer these new people, teach them, encourage them and bring burst up at a sustainable growth rate, if there is going to be a sudden price increase like has happened then it needs to be sustained at that level or close to it, not just smashed down, this will have a cause and effect that can be detrimental to Burst undoing what has been done, so from both sides i see valid and important points, i watched the video and well meh basically on that, to me it was just a lot of self glorification basically and gloating .
i think just a more community focuses approach needs to be taken and a coalition where ideas are melded togeth, no just a its my way or the highway approach!!
-
all i can say, is where the fu*K up in all of this was bringing it out public to lower the image of BURST....
i made a post this weekend about all the negativity and trashing of the coin at polo, including calling it a scam coin, ppl being in the "know" etc etc
No one needed to know if the only thing it hurt was their pocket books, now it has caused another shit storm.
it reads like a fairy tale the King was conspired against in a plot he knew "nothing" about and makes a killing, so now he can come back and tell his subjects that he is still the king but they have to forgive these bad men cause he has... 90% of the time the king was in on it to if not for the profit but at least the "pump" to his name .



