You are viewing a single comment's thread from:
RE: [ANN - Pre-ICO] BlockPay - Zero Cost, digital currency Point-Of-Sale systems
And to clarify, @chris4210, other than exchanging OPENPOS for the shiny new thing, there is basically no more use for it now / it has been superseded by the new token?
The old use for OPENPOS tokens is remaining. We offer you a special buy back option for your OPENPOS tokens plus access to the other income streams of our products. We want to thank all our early supports and spend up to 600,000 BlockPay tokens for the buyback.
Any reason why someone wouldn't exchange OPENPOS for BLOCKPAY come the 20th of August?
@karnal from my calculations there is no benefit in buying OPENPOS on the market at anything more than 36 BTS/OPENPOS. Someone has just paid 40 BTS/OPENPOS for 453 costing them 18120 BTS. If you wait until Phase 2 on the 23rd of August you can purchase Blockpay for 0.000288 BTC which at the current BTC price of US$575 is US$0.166 per Blockpay. BTS is currently worth 105000 per BTC, at US$575 per BTC hence the price per BTS is $0.00548. Assuming 1 OPENPOS = 1 Blockpay you should pay no more than 30.24 BTS/OPENPOS ($0.166 divided by 0.00548). However there is a 20% bonus to OPENPOS as the ratio is 1.2 Blockpay/OPENPOS so this means you can afford to spend no more than 36.3 BTS/OPENPOS (which is $0.166 divided by $0.00548).
The problem with this is that OPENPOS has 200x the earnings power that blockpay does when it comes to transactions from Oodoo. I think it is going to be very difficult for blockpay to match this revenue difference with other income streams.
If blockpay does take off, one would have to assume transactions with Oodoo have taken off. This means that OPENPOS is being incredibly underpriced right now. Blockpay is valuing itself at approx $20million, not sure where they get that valuation but I think it is extremely stretched.