This post is not finacial advice. If you decide to follow what I am doing, you do so at your own risk
I thought I'd do a post on the 3 types of buybacks for Glitter so that people understand how it works.
Scheduled buybacks will always be above the .01 value. This rate will vary but will always be above the .01. These buybacks will be done monthly in November and December but will switch to quarterly in January. These are very similar to the UNICOIN buybacks except more tokens will be bought back and the buy back rate will eventually be more than UNICOIN(on average) . UNICOIN also does HSBI exchanges and there are no HSBI exchanges officially for GLITTER.
Quick Sell buybacks are buy orders at slightly below .01 but within 10% of that number for folks who want to dump/sell quickly. This account will also do the same for UNICOIN. In fact it already is doing that, just at a smaller scale. Doing this does help with price stabilization which people like to see.
Guaranteed buybacks If you have more than 50 HIVE worth of GLITTER you can request a buyback of .01 each at any time .This is limited to once per person like the UNICOIN guaranteed buybacks. The 50 HIVE threshold is to avoid people selling back smaller amounts-you can do that on the exchanges. The only thing is you may need to wait a few weeks for a power down or to move funds around but all tokens are guaranteed to be bought back.
We can do this because all tokens are backed and remain backed before mint. It's part of the design.
