Everybody knows it is better to create more price hype if we can extrapolate the buyback numbers. So why not cancel the planned buyback and do just that?!

When extrapolating?

It would clearly be better for the optics to have a progressively larger buyback instead of a significantly smaller one (than the previous round that is). Postponing/canceling the scheduled buyback of Q4'18 would allow shifting all focus to the Q1 2019 buyback.

Therefore canceling the Q4 buyback would make sure that the second buyback will dwarf the first buyback of €30k (Q3 2018). However, this would clearly be a case of fabricating extrapolated growth. This type of messaging creates expectations that currently is catching up to a lot of overhyped crypto projects. Solid projects with revolutionary tech and novel business models behind them, can suffer from great community disillusionment due to extrapolation. The mainstream consumer/client isn't that gitty about Byzantine fault tolerance as the homogenous crypto community is, note that this doesn't invalidate the crypto use case at all but it does require more patience and continuous reflection on behalf of the backers.

Thus a conclusion that we are pursuing a buyback strategy that is not beneficial from a hype perspective is completely valid. What is the strategy you ask? Let me briefly bring you up to speed on our intention and what the long term goal is when conducting and planning GET buybacks.

Setting a predictable standard

The entity GUTS Tickets is a client of the GET Protocol Foundation. The ticketing company does not own or earn any GET. As using the protocol's infrastructure requires GET, GUTS borrows tokens from the stability fund, a protocol fund that needs to be made whole periodically (by conducting a buyback).

GUTS Tickets has to acquire GET from the open market periodically regardless of how much tickets the ticketing company sold. The GET Protocol Foundation and GUTS Tickets are two different entities. Having strict rules in this matter is important as in 2019 more ticketing companies than just GUTS Tickets will be using the protocol — as such setting rules for all ticketing companies to adhering to is important.

Didn’t we say we would sell 140k tickets in Q3 and Q4 of 2018?

Event organizers can now add, edit and monitor events in the dashboard! This DIY functionality makes the application significantly more commercially scalable.

This was indeed the projection of GUTS Tickets. As mentioned a large ticket sale has been postponed to 2019 and the GET required for this sale will be bought back after the sale has been conducted.

Will the buyback of Q1' 19 be larger due to this?

Yes. Significantly I might add. Throughout 2018 the GUTS Tickets application was operational, but not yet deemed commercially ready. This means that while the application was able to process all aspects of ticket sales, doing so did require quite some monitoring and support of the GUTS & GET team. With the recent additions to the event organizer dashboard, support funnel and scanner application the application can now conduct large sales without a lot of team overhead.

So processing 1 million tickets (the 2019 prognosis) wouldn't have been possible in 2019 without having to pull away all development resources from adding new features to the ticketing application.

As mentioned, foreign and domestic ticketing companies that are not GUTS Tickets are scheduled to start conducting buybacks in 2019.

Are you somebody, or do you know somebody that can help us in buying back all the tokens from the open market within a few years? Check out our open sales positions!