Quote:
Originally Posted by diuigks
Btc deposit its a good new, but i think that price is going up cause traffic is going up too, and i think traffic will go more up nexts weeks, months, open liquidity and 0 rake are strong arguments to world poker comunity
The reason it's going up is because of the buyback community contributions deal that I recommended they setup in order to basically save them and it has.
Current monthly burn count:
https://coinpoker.com/community-contributions
The price will continue to go up now for years. That's assuming stagnant growth and assuming that players continue to play on the site... at least without losing a ton of them. Right now we are averaging aprox. 6mil-7mil per month in burned CHP and 1-2mil (closer to the midpoint of each currently, on avg.. so ~6.5 and ~1.5) that's collected as 25% of the community contributions to eventually be given back to the players and/or grow the community and attract marketing partners, etc.
They already have... after just 3-3.5 months of community contributions... oh, I don't know, maybe ~19M burned (not sure if that would be including the current burn count for this month or not...) and ~5 mil saved up to be given back to the players and/or attract marketing partners and new players.
I'm anxious to find out what they're going to do with the smaller 25% part of the community funds and I'm hopeful they will initiate a cash game player rewards system. Cash game players contribute a lot more to the monthly burn and community collections than do MTT players yet MTT players are currently seeing a much great reward system.
They did actually say they are working on implementing rewards for cash game players. I hope it's good and I hope it's soon. It will also very much encourage players (even losing players like me right now,) to keep playing on the site.
Lately though, CoinPoker ...we've been growing massively.
Every time I login now there's more people on and like a ton of tables going. WHat's also good about that is not only does it help the community thrive but because of the way the buyback works... quite literally, the more people playing, the more CHP is going to be worth because more tokens will be burned. It doesn't take a ton of difficult math (we are on a poker site after all) to figure out the amazing economics behind the current token burn situation. It also has a direct correlation to the price beginning to go up just like I informed management that it would. I was pushing for this for months before they finally released it but wow it's done wonders for the site and it really should only continue to get better. It's certainly showing no signs of slowing down it's growth at the moment... quite the contrary, in fact.