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I think there is less stigma in overt community based price management than convert pumps.
How is it any different than board of directors agree that there needs to be some company stock buy-back (reduction of the float) and coordinating a price target? Is this common place in public stocks ... Company A has targeted price X for end of Q2.
If anything it shows the strength of the community to manage value, and ought be an attraction to the passive investor who is willing to hold short term because the community has a reputation for hitting price objective goals.
So I would suggest to keep it on board in public view.
"
Hi BCN,
The stigma is not so much my concern as the effectiveness of the effort.
As to your "How is it any different than board of directors agree that there needs to be some company stock buy-back (reduction of the float) and coordinating a price target?" example, big difference.
We are not a board, and there will be no "legal" reduction in the float, as in your example. When a company does a buyback, the shares are removed from the "issued and outstanding" portion of the balance sheet, and moved to the "treasury (issued, but not outstanding) portion of the balance sheet. It would be like, if we had the foundation running saying "OK, the Foundation has done a buyback of 25,000 UNO and we are keeping them off the market forever to increase the rarity by 10%"
The current discussion is more akin to several members of the board saying "you know, we own a lot of this stock already, the price is down, let's individually buy up as much as we can to make the price go up". Now, this wouldn't be announced in the newspapers, but it would eventually show up on "insider trading" reports.
A third scenario is those board members going "OK, let's set up anonymous off-shore corporate entities and anonymously buy and sell stock of our own company to skirt regulatory reporting requirements, and manipulate the price where we want it to be so we can collect our bonuses, exercise our stock options etc...then we can dump it..."
So three different scenarios. Your example looks like my scenario 1. What is being discussed here is more like scenario 2. It could also be seen as being more like scenario 3 if you guys wanted to hide your hands and make these purchases through new wallets.
My advocacy of discussing it in private is to encourage you not to tip your hand to those who bought at .0029, will be thrilled to dump on you at .004, and then go buy back at .0029 again.
So again, I recommend you discuss this privately. Your cards are showing.
We're not a board. We're a loosely knit community - looking to grow. I'll gladly show my cards; to the long term success of UNO. Else we might as well fold up and go home now. (Am I the only idiot who still believes in this coin?)
Seriously, some say this coin is already over. Then, what are we doing still hanging around here? Nobody is going to get rich off me doing my small payday buy-ins... (If you think you are, god help you. God help you, Sir.)
Z
- and the other has a history of ranting about "manipulation" and "insider trading" whenever the community gets together and organizes anything he doesn't control himself. Almost everyone else, universally people I've grown to respect, seem to be on board. So by all means continue and don't make me feel like a party pooper. 