Author Topic: METAFEES next BUYBACK on Saturday April 30 2016 10am-11am CET  (Read 20586 times)

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38PTSWarrior

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Thanks shentist, can I just hold to make money?

Offline Shentist

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we bought METAFEES worth 0.1778 BTC and burning them (5.91021) the next days.

because the account "metafees-buyback" is not syncing we had to use a different account to make the buyback this time.

in december we had fees in total of 0.35578 BTC so 50% is the amount of the buyback.

in this month the BTS fees are 30% lower, but ETH and NXT fees are much lower then before. In the future MUSE fees will be added to this and will increase the
amount of the buyback overtime.

i didn't do the math, but i suspect if we would calculate everything in BTC we had a really nice month, but with the rising BTC compared to BTS, ETH and NXT the amounts are lower then before.

thanks for your support of metaexchange
« Last Edit: January 04, 2016, 07:21:09 pm by Shentist »

Offline abit

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we will do the next buyback on monday Janary 4th between 8pm - 9pm CET on this market again https://bitshares.openledger.info/#/market/METAFEES_METAEX.BTC

Now everyone knows to buy just before the time you gave. The buyback in the future might work best if the time and date of it is kept random.
Why don't let everyone know? Imo it's better be public like this.
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Offline luckybit

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we will do the next buyback on monday Janary 4th between 8pm - 9pm CET on this market again https://bitshares.openledger.info/#/market/METAFEES_METAEX.BTC

Now everyone knows to buy just before the time you gave. The buyback in the future might work best if the time and date of it is kept random.
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Offline Shentist

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we will do the next buyback on monday Janary 4th between 8pm - 9pm CET on this market again https://bitshares.openledger.info/#/market/METAFEES_METAEX.BTC
« Last Edit: December 29, 2015, 05:29:48 pm by Shentist »

Offline Riverhead


Balls - wish I was home for this. Next time :).

Offline JonnyB

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it was me, I am the rich gypsy1!  thanks illiquidity and monsterer
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Offline monsterer

The lowest filled sell order was 0.079 BTC, which was nearly 4x the price they were bought at, so somebody made some nice profit. Hopefully, the process will be a bit more clear now.

We wanted the post buy-back price in the market to be the new market price, but since the market was so illiquid at the time of the buy-back, this doesn't really make sense, so instead we are increasing our new METAFEES prices by 1%, which roughly reflects the profits / total BTC inventory ratio.

For the next buy back, we expect the market to be more liquid such that the post buy back price will be the new sale price.
My opinions do not represent those of metaexchange unless explicitly stated.
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Offline Shentist

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thanks guys!

First buyback happend!

we bought 9.7 METAFEES for 0.66 METAEX.BTC http://cryptofresh.com/b/1179209

so the circulating METAFEES are shrinking about 9.7 METAFEES and will increase the value of the remaining METAFEES.

Before the BTS 2.0 integration we made something about 1 BTC a month in fees, so in the future we hope to increase the buyback much more. Please consider that we bought with 100%
of the fees this time, but next time it will be 50% of the fees.

We will now made our ANNs on some other crypto community forums and will promote our fundraiser and our service.

Thanks everyone for your support.

P.S. The next buyback will happen around the same time, so hopefully we will got more holders of METAFEES next time.
Hopefully the bug in trading UIA: UIA is fixed!

Offline monsterer

If it's not clear,  we are placing a market buy order in this market:

https://bitshares.openledger.info/#/market/METAFEES_METAEX.BTC

Lowest sell prices will get filled first
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Offline monsterer

METAFEES sale has been suspended during the buyback process. The price will change post buyback.
My opinions do not represent those of metaexchange unless explicitly stated.
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Offline btstip

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Hey Tuck Fheman, here are the results of your tips...
  • fav: has been credited 1 BTS
Curious about BtsTip? Visit us at http://sharebits.io and start tipping BTS on https://bitsharestalk.org/ today!
Created by hybridd

Tuck Fheman

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yes keep on undercutting each other instead of settling @0.088

I tried. smalls2 and gypsy1 > facepalm

#sharebits "fav" 1 FACEPALM

Offline Akado

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every information you find https://bitsharestalk.org/index.php/topic,20150.msg259135.html#msg259135

I assume you will increase the price of the METAFEES your selling according to the price you buy during the buyback?

no we are not, because the buyback will happen in one spot.


So you will continue selling them at 0,02 METAFEE/BTC till the fund raiser ends? Sorry, I didn't get that from your original post
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Offline fav

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yes keep on undercutting each other instead of settling @0.088

I tried. smalls2 and gypsy1 > facepalm