Buyback - 11.02.2020
This is a short report about the latest buyback of Breadcrumbs (HBC).
Today we bought back about 167,000,000 Breadcrumbs from users on Steem Engine. We used approximately 1340 Steem.
Breadcrumbs were bought in four waves throughout the day:
You can see the history on Steem Engine: https://steem-engine.rocks/@holybread
The next buyback will be on Sunday (in five days).
A question for @holybread: 167 million is a nice number, but how much Breadcrumbs were distributed in these nine days? How to you see the future of this token if supply is continuous higher than the burn rate?
Maybe not distributed, but withdrawn amount to SE you can check on this site: https://steemweb.pl/statistics/holy-bread
Wow! Amazing! Thank you, @rafalski!
Currently the distribution depends on the number of active players by a bit.
Don't have a number as I am not on my PC. I think the distribution was over 300 million over the last 7 days.
The burn rate is only lower than the distribution because players bet on the future of the game and the coming ingame usecases of breadcrumbs. Otherwise the price should be: prize pool / circulating supply.
If the distribution is continous higher than the burn rate the price will fall. We are at the start so the inflation is still extremely high.
Very cool! This time I managed to sell everything I got, and made a nice 61 STEEM
Are those tokens burned?
Correct me if I am wrong but you (@holybread) said there was going to be the original 20% token buy back plus an additional 500 steem bought this week because of the issue resulting in the HBBC token getting changed to HBC token? If you were true to your word 20 percent of the 6330 steem (on sunday) sold since inception, minus the -830 steem you bought back worth of hbbc last week would put you ate 5500 steem for this weeks buy back, 20% of that would be 1100 steem plus the "500 steem extra" you said you would throw in would put the grand total of the buy back at 1600 steem this week! Which is far more than the 1340 you bought back.. 260 steem less to be exact. I honestly wouldn't care about this except the fact that I put a lot of time and effort in to figuring out exactly how much to sell my HBC for in reference to how much you said you would buyback. And since you shorted the total by 260 steem I got fucked and received only a fraction of my sell order because you were not honest about how much you were going to add to the pot. PLEASE BE HONEST NEXT TIME so I don't get fucked over on the buy back. Now all my trading for the week has to be haulted while I wait for next weeks buy back...... Thanks for that..
I believe that the "extra 500" were added to the reward pool, and only 20% of them was used. But some more transparency from @holybread will definitely be appreciated...
Where are you missing transparency?
For me it was all transparent (at least with the additional information on discord).
Well i didnt realize i had to do additonal reading on discord after reading the post.. Call me nuts! LoL..
Not after this post. After the difficulties that the developers faces during weekend.
Imo their handling was decent for such a case of disruption. They compensated all players and stated clearly how the buypack will be processed this week.
Thats prolly the best answer I have heard yet, and is feasible for sure. Your probably right..
We clearly stated that we added 500 Steem to the prize pool.
20% of the prize pool are taken every week for our buyback.
Not sure where the confusion comes from?
Agreed, i have no idea why your confused? Can you not do math? Or can you not read? If you read my entire comment it clearly states the descriptency and your answer is garbage with zero details!? I clearly stated "why there was confusion".. there was not 500 steem added, only 240! So WHY were we told there would be 500 added if that wasnt the case?! i dont know how to dumb it down any more than that.. lol.. I can bring up the posts on the chain to prove im right if need be.. i honestly just dont like being lied to, sorry if that upsets you..
Okay.. on Sunday (I think it was Sunday) we announced and added 500 Steem to the prize pool. (https://steemd.com/tx/f6c6ee02babc8b91e2d3a3509a1794251008ed4a) I don't remember how high the prize pool was on Sunday but it was probably something about 5700. So after we added the 500 Steem the prize pool was at 6200 Steem.
TODAY we started the buyback and took 20% of the prize pool (1340 Steem out of 6700 Steem).
Alright, well thank you for that real answer. I guess i read that post wrong and thought u meant u were adding 500 to the prize pool this week, not the total prize pool. My bad man.. i am not trying to be a dick and sorry if thats how i came off, it was not my intention. I am just sour about how this all played out but it was obviously no ones fault, just a misunderstanding on my behalf. I appologize for any negativity.
Thanks! Happy that things are sorted out now.
I am also sorry for my short first answer (was a bit angry because of the "be honest next time" part and sorry that it wasn't as clear as we thought it would be in our Steem post. It's a stressful time so it's hard to make everything perfectly. We try to though!
I'm glad too! Your good shit man, thanks for working through that with me and not loosing your shit.. I was definitely a bit out of line (I apologize), and you did well not snapping back. You deserve a !BEER
Oh, and I am loving this game and you guys are doing well keeping things together for just releasing it, so thank you for all your hard work on too! ;) Take care man.
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Looking forward for implementing some in-game usage of breadcrumbs. Now it looks they are distributed much faster then buyback happens...
Please, up this value
The price is fixed or depends on the market?
It is the market price. Even if you put a buy order ah higher amount, Steem Engine will settle the prices at the market price, and will return what is left over. Al this is visible in the steem-engine blockchain
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