How it works:
The buyout will be triggered by a $3,000 price on Bitcoin on ALL MARKETS posted at blockchain.info/markets
Once it is triggered, only orders prior to the trigger date will begin settling and once the BTCPLUS settled they are burned or erased from being circulated.
Buy-out price depends on your order selling price. If you are selling each BTCPLUS for 0.28 BTS each, Then that's all you get.
BTCPLUS which are not settled in this buyout will be settled on the next buy-out trigger which is set at $1,500 increment and thus at $4,500 bitcoin price.
Once the $3000 trigger is reached and you fill out the required form for each order you have made, you must then transfer the number of BTCPLUS you traded for each order you made to cni-holdings using the SEND button in your Bitshares DEX account. (if you only made one order, then one transfer is all you do…if you made more than one, then you must do a transfer for EACH order) Instructions will be sent on how to do this!!! WAIT and make sure you do it right!!
The increment will keep going until all BTCPLUS are maxed out or until the trigger reaches $15,000.
Once each bitcoin is $15,000 each, ALL BTCPLUS orders will be settled and burned. What is left may continue to be traded on the DEX for all legal intents and purposes.
What if my price tag is OVER $3,000? Then you will not be included on the buyout. Thus, your assets will not be burned until your price is within the payment range. (even if just over $3,000) So be very careful with your asking price!!
The second payment range will be $1,501 to $3,000
Also, be careful if you trade BTCPLUS for a Cryptocurrency. It will be converted to its dollar equivalent and the converted value must be less than $3,000.
Example: if at buyout time 95000 BTS is equal to $3,001 then you missed the buyout and you'll need to wait for the next trigger.
Buy and Burn is directed at your personal account you have disposed of BTCPLUS to another entity whose prerogative is to do as they please and deem profitable, Thus then while the value continues to be established, this other entity is now in control of the "currency" and you having disposed of it "burned"it no longer have control, though others do and can act as to their profit. Also, BTCPLUS is a currency we at compumatrix created and once it leaves our jurisdiction they are burned, thus reducing the number of BTCplus available from the total we started with.(edited)
