Does Musicoin Org purchase $MUSIC on exchange to support price?

I was wondering, does Musicoin Org regularly or sometimes purchase $MUSIC on the exchange in order to keep a stash of MUSIC (in addition to the regular amount received from mining process), or to help stop the price from going too low (to keep the miners active)? Other than a few people who might buy some for tipping artists, I assume the only buyers on the exchange are investors who recognize MUSIC as a buy opportunity, and perhaps Music Org. to help support the price from crashing too low. Just wondering if it’s being artificially supported right now. I don’t think it would be necessarily a bad thing, with the deep crypto depression we are in now, but just wondering.

Ambassadors

Hi I don’t think Musicoin support the price! Or at least not too much! @niuQuin do you have information about it? The goal is to support value of music
Thank for your question

Ambassadors

Hello @dave-postington, and nice to Musicoin you! 🙂

I haven’t heard of such purchases from the Musicoin Foundation - the general opinion being to bet on the coming platform improvements (the mobile app, UI betterment,…) and on the Ice Age to promote the $MUSIC price. But I’ll ask, and bring you a firm answer :-).

there’re some strange direct transaction from UBI pool to Bittrex

Ambassadors

Hello @metkraming! No doubt that 440 million $MUSIC in one transaction is… huge, How do you identify the sender and the receiver? (I’m not so acostumed to manage the blocks Explorer, he).

0_1534950734929_4e45f08f-82df-4853-8222-1a9193a1f3fb-image.png

Thats 440 MUSIC, not 440 million.

Ambassadors

@dave-postington , thanks for rectifying! In some countries the dot separates thousands from units (at least in various European countries “440.000” reads “four hundred and fourty thousand”), while in others it marks the beginning of decimals.

This confirms I’ve not used my wallet yet, haha.

last edited by Ijatz Guatemala

Sho thang! I was relieved when I saw it was only 440 MUSIC. For a while there, I was concerned that Isaac Mao had dumped his stash, indicating the end times are here!!! 😉

Looks like your connection to Musicoin Forum was lost, please wait while we try to reconnect.