Hi everyone,
I thought I would give my opinion on the recent Auction. (10,000 GLB went for 0.4 BTC)
Ok, so basically, it went for much lower than previous trades, this is obliviously a disadvantage.
It does mean that GLB is backed by much more BTC than before (0.2 BTC) .
It also gives us cold hard cash (well BTC) that we can use to help move the project forward maybe save up and spend on XYZ.
I think doing this on a frequent basis would cause the price to decrease however if we do these on an infrequent basis maybe once a month it could be beneficial.
What do you think?
Thanks
Sphere
I think people are holding back a little, including myself, untill GLB gets onto an exchange. No one is going to invest serious money (BTC) into a coin, if it is unclear whether you can ever get your investment back. I really like the idea of GLB, but untill it gets onto an exchange there is no way to increase the reserve on an ongoing basis. This actually makes this coin little different from many other recent coins in its current state. I think that getting GLB on an exchange is the first priority in order to really make this happen.
Doing auctions now and then could be a good way to get some more BTC until GLB hits an exchange. Maybe it would also be good to have some smaller auctions (like 1000 GLB), so people with less BTC can bid as well.