Where the hell did that 9BTC dump come from?
I thought the top 19 were accounted for on the richlist and thought they were only allowed to sell their stake and not dump their discounted coins?
My long version of Vegas' post: A great question which will take a bit of detective work to answer.
1st - Only those who have purchased directly from Vegas have agreed, as a requirement of the
purchase, not to sell any of their purchase. They are listed in the Ann. Additionally, team members,
like myself, have voluntarily agreed not to sell our initial coins from the swap or, the
purchases we have made from yobit. There are 11 team members in the top 19 who
have made the agreement not to sell Swapped/Purchased coins.
The agreement, as stated in the ann, allows sale of POS stakes. To my knowledge -
no team members are selling POS which goes into a separate POS only address via
the Savings feature of the wallet. (Selling POS would not account for the dumped coins).
The other 8 claimed addresses in the top 19, due to purchases or coins from the original swap,
are not bound by an agreement They have not given their word to not sell. An initial look at the top
19 shows 1 person moving a lot of 2,000 coins a few days ago. He did not buy from Vegas directly
and while invited into the team, he decided that team restrictions were not for him and is not part
of the team. Vegas has been unable to change the Ann yet removing his name.
Previously, there was up to 2000 coins listed for sale on Yobit plus the 2,000 moved. Currently,
only about 1,000 coins are available on Yobit. This means the market absorbed the dump plus
1,000 more coins. The price got knocked down to .0017 but has alredy recovered to
.0025. I see that as positive.
One thing I feel important to note is that the top 19 are excited about the coin enough to claim their addresses.
I encourage more from 20 on down to do the same. And, I hope we can add more team members to assist with
the future developments being discussed by the team.
Since the coin is still very young, there will be those interested in the quick profit, selling now at what will one day
be considered a low price. The goals and commitment of the FLY team are long term and unchanged. We have much
work planned and are only at the beginning.
Sorry for the book here.
