Your TLDR is correct. This can be found on here:
https://particl.io/#faq-a10So almost all sold on market or others bought and make swap. 80% coins was swapped.
Yes, we covered this in a blog post here:
https://particl.news/particl-successfully-closes-out-its-seed-funding-round-highlighted-by-1658-participants-5-1-38dee90d1a91AFTER that price drop from 200 000s to 15-30k s as useless coin.
SDC price held a $1.50 median range for months before the exchange (sans week leading up to it) and maintained it ($1.50 to $1.70) throughout the entire funding period. The price dropped minimally to $1.40 or so between April 15th - April 19th which is astonishing to me personally because the coin was not being developed anymore but none the less, held price more or less.
April 19th Poloniex added SDC to it's ninja delist (fortnight timeframe) which is totally appropriate and this created a natural break point in price. Remember, 1 address holds over 78% of the coins. For those who don't understand the magnitude of that, it means the team (if we truly were scammers) could double-spend at will from the moment we hit 51% and be raping exchanges for BTC non-stop as long as they kept the coins active.
Please consider this as a testament to the integrity of this team when accusations of stealing money or other false claims are thrown around. We've kept the conversion address public, highly visible on the site during the funding period and it's still there today so the public could audit the transactions and keep us accountable.
SUaqjDUwAuVKnmWUX5tgU3fK1PkmbdfVCDAnd magically few days after end swap they told that people can swap to end of year 2017 but with ratio 2:1 because price sdc drop.
So we swap all SDC and after this article price was 35k s so everybody who buy it for this price can buy PARTICL about 6 times LESS than people in ICO stage and swap window 30 days.
We encourage everyone to re-read this article for the facts of this new community cause to include SDC holders left behind:
https://particl.news/a-community-driven-initiative-e26724100c3aTL;DR
The chance to claim donated PART is split into 2 groups. The only group available to claim community donated PART is detailed here:
* Anyone who contacted the Particl Team via email/reddit/slack/riot before 00:00 UTC on 19th April, 2017 are eligible for 2:1 (SDC:PART) conversion.
* Anyone who has on-chain funds in SDC which have not moved since 00:00 UTC on 19th of April, 2017 are also eligible for 2:1 (SDC:PART) conversion.
Remember the price of SDC maintained roughly $1.50 throughout exchange and up to the delisting announcement. So every PART token holder at least bought in at $1.50 if they did the 1:1 SDC to PART. Participants who took the bonus the first 5 days got PART at $1 but that was only for the 15% bonus PART. Towards the end of the exchange folks still took the bonus and were paying $2.40 or more for bonus PART. So the 2:1 ratio is equal to $3 PART. This makes sense because these are PART donated back by the community for SDC holders left behind. Obviously they don't want to hurt their portfolio values by offering late comers PART for less than they paid, instantly reducing their wealth.
Per your scenario of buying at 35k and getting this donated PART 6 times less, that is not valid, as you can see with the blog post and the initiative's terms. That person would fall into Group 2 and the state of that group's options to claim PART is 100% up to the community as they will decide by vote when the network is live. That is all explained in the article. I imagine the donators, again, won't want to cut their portfolio values so anything less than $3 PART won't be approved by vote (just speculating). So if someone bought after April 19th for $.30 and was approved to claim donated PART they would be offered a 10:1 exchange ratio or $3 PART.
If I decide with lost anyway sell SDC and not swap I can sell for 200k s and buy it after price drop for 35k and swap even with ratio 2:1 and make 6 x profit more than idiots who swap when price was high.
I think I explain this scenario above.
So is the reason why SDC show yesterday green 150% profit and today almost 100% BECAUSE its not dead as was wrote before by Devs !!
If someone want tell stupid words: if have problem by more cheap SDC I dont want more PARTICL because I swap at 1:1 ratio many SDC worth 200k s /each so I put in this many BTC and dont want put more in shady project after ninja relase about it. And I cant sell my SDC because I hear about swap to late and price drop about dont remember 40-60% so if I want sell I make lost in btc to many so I decide swap.
Buyt it was wrong decision because I can sell and take btc and today rebuy SDC and make swap 7 times cheaper than cost me and all others who make swap 1:1 ratio when price was high.
So I make swap and take few thousend PARTICL but if I sell for btc and buy now I should have 60 k Particl token.
So they scam as again.
They should make ratio not 2:1 but with actually price SDC now so 36k s. So like 6:1 maybe.
Not fud just FACTS.
I have no reason for the increase in price, it could be a takeover attempt, it could be speculators hoping for 3000% profits down the road from unsuspecting n00bs, it could be a number of things. Your quote above (
"They should make ratio not 2:1 but with actually price SDC now so 36k s. So like 6:1 maybe.")is exactly what the article says is up for community vote. We agree and the investors agree, hence the terms set out in the proposition.
I'm very proud of this community cause. I hope others see the good in it once they take the time to read about it on their own.Thx for some answers and explonation. I afraid about ours questions made without ask. We need more info about road map ans some dates news. And inform us here because anyway want or not want we swap and invest in new project PARTICL. I mean 6 pages posts for this project after swaped from SDC is little to small. Need more infos about progress and back community from SDC here because many of them are in shock after ninja relase about abandon SDC and swap thic coin to new project. Inform us more often about news.
But some things I see more precisely. Thx for details some my ask was fill.
Sry for bad english.
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