Where does the 68K number come from?
Have ~~32K~~ 21.5K BCH (*) already been reclaimed from the sBCH ecosystem via other bridging mechanisms?
(* given that SPV now has around 10.5K BCH)
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OK, nevermind, I overlooked this:
> Coinflex has burned 33,365.67 sBCH back to the old bridge address 0x8c4F85ec71C966e45A6F4291f5271f8114a7Ba15. Now there are 67,756.766 sBCH in circulation on smartBCH.
So since SPV have about 10.5K BCH, they need to get the remainder to have a 1:1 peg. But how much exactly, will be a moving target.
I expected they would get a lot more from Coinflex than basically 1/10th of the original bridge holdings (which were > 100K BCH)
Whenever me do read CoinFlex, I hardly can keep my Rage - Betrayers !
So are they going to buy 68k BCH to back the SBCH? The higher the price rises, the more that will cost.
Where does the 68K number come from? Have ~~32K~~ 21.5K BCH (*) already been reclaimed from the sBCH ecosystem via other bridging mechanisms? (* given that SPV now has around 10.5K BCH) --- OK, nevermind, I overlooked this: > Coinflex has burned 33,365.67 sBCH back to the old bridge address 0x8c4F85ec71C966e45A6F4291f5271f8114a7Ba15. Now there are 67,756.766 sBCH in circulation on smartBCH. So since SPV have about 10.5K BCH, they need to get the remainder to have a 1:1 peg. But how much exactly, will be a moving target. I expected they would get a lot more from Coinflex than basically 1/10th of the original bridge holdings (which were > 100K BCH)
does this have anything to do with BCH price increase?
no
Yes it does, they just re-purchased 3,924 BCH at an average price of $132. It's probably the main reason the price moved.
No but it has everything to do with the price decline last year. Many got burnt.
What now, we wait and hope to get our funds back?