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RE: Round 2 of the BUILDTEAM Auction Is Now Complete!
Hey Ashe! Glad you saw this as I thought you might be interested. The total amount of STEEM available is made known once the auction starts. You can also track the transfers to the build team account as they happen on the blockchain to decide if it's worth it or not. In some ways, it's similar to the EOS auction. You could hold STEEM, but as my example shows, it was much more profitable (this time) to hold the BUILDTEAM tokens because they represent not just an increase in the value of STEEM, it also if the profits generated by the Build Team projects.
The only downside I see to this is it will remain a small amount. If someone tries to go in for a large amount, they will eat into their own profits, making it pointless.
"The only downside I see to this is it will remain a small amount."
You mean the number of BUILDTEAM tokens redeemed will remain small, right? I find all of this so fascinating. Coudln't that be good because ppl will bid up the price of the BUILDTEAM tokens and only redeem just as many as they think will be needed?
I believe there's no inflation of build team tokens AND only the # of tokens redeemed each month are available for sale again, right?
I mean the STEEM in the auction. It was 3,700 this last time. That limit will keep the amount of BUILDTEAM put in the auction low or people will begin losing money by sending too many. For example, if you make nice profits like I did on $155, you can't double that profit by investing $300 based on how the auction works. Your profits go down based on how many tokens are put into the auction.
Why not delegate my SP to MinnowBooster and reinvest that SD in to BUILDTEAM tokens. Feels recursive.