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Caviar - Wind Down - Worth Cashing Out?

  • 24-04-2019 6:35pm
    #1
    Moderators, Society & Culture Moderators Posts: 31,948 Mod ✭✭✭✭ Gumbo


    Guys,

    I got some caviar tokens last year. 985 of them to be exact.

    They recently decided they are to wind down and have asked for everyone to transfer their CAV back to be repaid in ETH.

    Some text below :
    There are 97,180,354 CAV tokens in circulation, and the portfolio value, after the above-mentioned expenses, is currently $805,155. Based on the price of Ether today according to Coinmarketcap of $166.00 each CAV token is worth 0.00004991 ETH. This represents a premium of 248% based on the last reported price traded of 0.00002009 ETH.
    Please send CAV ONLY to the address below in order to redeem to ETH based on the above calculations. Do not send to any other address as you may lose your CAV tokens permanently. Caviar will not be responsible for any lost value, and Caviar team will not be able to help you.

    As you have to pay MyEtherWallet to make the transaction, basically i'm asking if anyone can work out what the value of 985 tokens are and if its worth cashing them or not!

    Thanks


Comments

  • Registered Users Posts: 2,649 ✭✭✭ Whelo79


    kceire wrote: »
    Guys,

    I got some caviar tokens last year. 985 of them to be exact.

    They recently decided they are to wind down and have asked for everyone to transfer their CAV back to be repaid in ETH.

    Some text below :



    As you have to pay MyEtherWallet to make the transaction, basically i'm asking if anyone can work out what the value of 985 tokens are and if its worth cashing them or not!

    Thanks

    I think your are looking at less than a tenner at a rough calculation.


  • Moderators, Society & Culture Moderators Posts: 31,948 Mod ✭✭✭✭ Gumbo


    Whelo79 wrote: »
    I think your are looking at less than a tenner at a rough calculation.

    Cheers. Even a beer may calculation is enough to make me realise the transaction fee may equal the pay back fee!


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    It'll be worth ~$10

    Pretty good return considering at ICO you likely paid $98.50 - always nice when an ICO pays off.

    Jokes aside - that 0.05ETH might seem pithy now and not worth bothering about, but I'd be viewing that as a fancy dinner for 2 in a few years. Just take it.


  • Moderators, Society & Culture Moderators Posts: 31,948 Mod ✭✭✭✭ Gumbo


    grindle wrote: »
    It'll be worth ~$10

    Pretty good return considering at ICO you likely paid $98.50 - always nice when an ICO pays off.

    Jokes aside - that 0.05ETH might seem pithy now and not worth bothering about, but I'd be viewing that as a fancy dinner for 2 in a few years. Just take it.

    Anyone know how much it costs to make the transfer though?
    I have the CAV in my etherwallet.

    I have to transfer that to them to get the ETH. To do the transfer I have to pay. Something to do with gas price or something. Haven’t transferred in a long time.


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    kceire wrote: »
    Anyone know how much it costs to make the transfer though?
    I have the CAV in my etherwallet.

    I have to transfer that to them to get the ETH. To do the transfer I have to pay. Something to do with gas price or something. Haven’t transferred in a long time.

    You can transfer and be in the next block or two for <€0.10, probably <€0.05


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  • Moderators, Society & Culture Moderators Posts: 31,948 Mod ✭✭✭✭ Gumbo


    grindle wrote: »
    You can transfer and be in the next block or two for <€0.10, probably <€0.05

    Ohh ok, I thought i'd have to go through the whole process of buying ETH on coinbase or similar, then transfer to my wallet so I can transfer the CAV out.

    I'll look into the transfer asap.


  • Registered Users Posts: 6,026 ✭✭✭ grindle


    kceire wrote: »
    Ohh ok, I thought i'd have to go through the whole process of buying ETH on coinbase or similar, then transfer to my wallet so I can transfer the CAV out.

    I'll look into the transfer asap.

    I'd presumed you'd have some ETH in the same wallet you have the CAV in.


  • Moderators, Society & Culture Moderators Posts: 31,948 Mod ✭✭✭✭ Gumbo


    grindle wrote: »
    I'd presumed you'd have some ETH in the same wallet you have the CAV in.

    No unfortunately not.


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