DEPOSITORY ANNOUNCEMENTI've been in talks with moneromooo and I have came out with the following depository plan after some discussions and modifications:
1. For every 0.0001btc deposited I will create 1 BO and give to the person who deposited(BO=0.0001btc)
- Minimum deposit: 10 BO(0.001btc)
- Minimum withdrawal: 10 BO(0.001btc)
- BO value is fixed for both deposits and withdrawals
- Withdrawal fee: 1%(eg.: if you withdraw 10 BO,you will receive 0.0099btc)
- Maximum 2 withdrawals/day per char(to prevent abuse)
- After withdraw BO will be burned.
- Withdrawal delay: maximum 2 days
2. 75% of the deposited funds will be used in btc hedge/arbitrage trading and forex scalping EA trading. 25% will be kept as liquidity for withdrawals in a CK reserve BTC account.
3. 50% of the trading profits will go into CK reserve BTC account for more reserve and liquidity.(the rest will go to trader)
4. If the reserve CK btc account contains more than 100% of the deposits,depository administrator will talk with the game admins and find a way to use the surplus funds over 100% of the deposits for the sake of the game.(ex: total active deposits: 10 BTC; funds in trading: 7.5 BTC;funds in reserve account: 12btc: 2 BTC will be used for game development,rewards to citizens,etc..)
I'm awaiting approval from the other game admins. I'm open to questions and/or requirements you might have!
Thank you!
Today was opened the BO (BurstOcean) depository at a 0.0001 BTC per BO token rate, with a simple 1% withdrawal fee. This is a first action that should revitalize the CK economy and restore the trust that was lost due to the b1/b2 fiasco.
I personally deposited 0.03BTC for a whopping 300BO and immediately put it on the market to capitalize on that sweet sweet early adopter privilege. Almost immediately, 1/3rd of my BO sold at a rate of 1 million M per BO, or 10 billion M per BTC.
This shows that the uncertainty in the market is still there and the early adopter bonus is very strong
If we look at how things were before the depositories going haywire, B1 (which is 1:10 with BO) was stable at as low as 30k M and as high as 180k M, mostly being around 50-80k. When things went haywire it went up to 1-2mil M.
Since then, the M supply quadrupled and it lost relative value due to lower trust in the game and less circulation. I would then say that a 5x multiplier is reasonable as a baseline for comparison. If we take the 50-80k M stable value, then when things will stabilize once again with an increase in game trust and circulation, one BO should end up at around 25-40k M.
As more deposits happen, supply increases, and trust goes up along with the liquidity, I expect the value of M to once again go up and BO to stabilize at 25-40k M, or 250-400mil per BTC. As a result, depositing now and selling would probably be highly profitable if you are invested in the game and believe it will recover and continue to grow.
Right now, however, M is still hyperinflated due to great uncertainty in the market and the state of the game, so I expect the general perceived value of BO to be around 150k M at the moment, with a "real" value of 25k.
Great demand obviously exists, and there is still a window where supply is low and there is not much market-making and significant profits can be made... People are still itchy to withdraw, and as soon as bank is injected, it will be viable (assuming ChrisPop stands by his word).
Happy trading.
