brypto

Crypto Twitter is losing its mind over this $4B Pump ICO

Stay Curious // iixii // Head of Crypto at https://www.lazertechnologies.com/  // Prev: CoinDesk, Roc Nation // based @basedevo

ya

the polygon guy is clearly angry - so not gonna comment on that

but chainyoda has a point that peter is ignoring: because token price is decoupled from equity value, buybacks don’t necessarily make a company more valuable

sure, they may pump the token price, but that doesn’t mean value was created by or for the company

this screenshot encapsulates each persons argument in a nutshell imo

chainyoda is focused on the fact that PF isn’t “going public via token sale” bc going public implies equity sale → which implies claim on profits

kris and peter are only focused on “extractive or not” → which really comes down to “will this action pump token price or nah” (bc price up = happy holders)

seems like two entirely different conversations to me

unless it’s enforced in the smart contracts it’s all “trust me bro” at the end of the day

not saying that doesn’t work in the short run, but definitely comes at a cost

yeah slightly different issues but definitely related

what if % of profits are committed to token buy backs? But i guess that’s still just a promise and not a hard requirement if business conditions change

this is the way 

attention matters more than fundamentals in many cases

the more i treat all crypto assets like memecoins, the more money i tend to make

buyback shmuyback - does it have attention or not?

yeah i’m very interested to see the mechanics around the buybacks and any other ways they plan to bring value accrual to the token 

i’m cautiously optimistic that this isn’t just a mass extraction play but i guess we’ll see