Author Topic: [OBITS]BuyBack and Burn in December executed with 813 204 BTS = 3,838327 BTC  (Read 4639 times)

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Offline kani

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Meh.  I can't say that I share your pessimism.  But then what do I know, I just got here...

I can tell you what I do know:
  • The team at OpenLedger is working hard to add value to OBITS and Bitshares.  (Real business growth takes time, and often price lags behind value).
  • Bitshares is the BEST decentralized crypto-trading platform on the PLANET!  Nobody else comes close.  (I do see others on the way, but few add any features which improve on what Bitshares can offer TODAY!).
  • Don't forget Blockpay and the crazy impressive stuff they've got lined up!  Real world uses for bitAassets?  Stealth?  Mobile Wallet? IPFS? Yes, yes, yes, yes!
  • (and the many other businesses building on bitshares)

All this amazing tech and opportunity!  And yet all some seem to grasp is declining price...  Well BOO-F*$@king-HOO!!!  Go PROMOTE the hell out of this FANTASTIC platform before one of these newer wannabes steals your thunder with a lesser platform.

I mean it!  PROMOTE PROMOTE PROMOTE.  Don't just wait for someone to stumble across Bitshares like I did.  PUSH, PULL, CARRY, or KICK them here.

Hell, why don't we have an advertising worker active?  Delegates of bitshares, what gives?
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Offline yvv

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Quote
In fact money is fleeing bitshares.  Market caps of the two biggest smart coins, bitUSD and bitCNY, have plummeted over the last couple months.

Their market caps are perturbations around zero. Have always been like that since launch. They are not plummeted, this is just random volatility. Next coupled of month they may go up by a factor of 5, but this will still be perturbations around zero.

Offline lil_jay890

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Pretty much every UIA is falling, less peerplays.  It's early investors leaving the BTS ecosystem.   Each UIA has been some version of a pump and dump. Yes, the charts look like there is more activity, but it's just bots trading back and forth with each other.

This negativity is, quite frankly, unwarranted.

Let me ask you this.  Where do you think most of the volume comes from on the big centralized exchanges?  Not sure?...  Let me answer that for you: trading robots.  Increased bot activity is a *very* good thing for Bitshares.  (Even better for OBITS holders when the assets being traded are of the OPEN variety).  So kill the negative chatter dude.  Bitshares best days are still ahead of it.

Never said bot trading was a "bad" thing.  I said the increased activity, as can be seen by the cryptofresh charts, is mostly due to people running bots.  Most of these bots are the exact same and all they do is trade back and forth with each other.  It's not new money coming into bitshares...

In fact money is fleeing bitshares.  Market caps of the two biggest smart coins, bitUSD and bitCNY, have plummeted over the last couple months.  UIA's like solcerts, obits, icoo, compuceeds, and blockpay have also steadily declined.  Its people leaving the ecosystem.

"(Even better for OBITS holders when the assets being traded are of the OPEN variety)." - Go read the summary during the month blockpay was introduced.  There were no ico's for CCEDK to pump and they had to rely mainly on OPEN fees.  There were probably record transaction in OPEN.btc in order to get into the blockpay ipo.  Turns out that was one of the worst months ever for the Obits buyback.  It came straight from ronnies fingers that OPEN fees are not signifacant revenue generator.  This is when the downtrend in Obits started to pick up steam.  People know that CCEDK is going to run out of ico's to keep pushing out,  when that happens OPEN fee's are all that is left... and according to the CEO, that revenue is insignificant.

So take off the rose colored glasses *dude*.  Don't confuse being realistic with being negative.  "Bitshares best days are still ahead of it" has been said for the last 3 years.  It's been in a downtrend the entire time.

Offline kani

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Pretty much every UIA is falling, less peerplays.  It's early investors leaving the BTS ecosystem.   Each UIA has been some version of a pump and dump. Yes, the charts look like there is more activity, but it's just bots trading back and forth with each other.

This negativity is, quite frankly, unwarranted.

Let me ask you this.  Where do you think most of the volume comes from on the big centralized exchanges?  Not sure?...  Let me answer that for you: trading robots.  Increased bot activity is a *very* good thing for Bitshares.  (Even better for OBITS holders when the assets being traded are of the OPEN variety).  So kill the negative chatter dude.  Bitshares best days are still ahead of it.
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Offline lil_jay890

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Nonono.
I get the theory, but this concrete, practical case it not following the theory.
The tokens are worth less now than what people paid for one year ago. That's true either in BTS or USD. The purchasing power of the OBITS bought one year ago is lower now. And there were buybacks&burn every month. The case is even worse if OBITS were bought and held since lets say 6 months ago.

I'm not demanding OBITS to outperform BTC. I'm expecting the the buybacks to do what the theory says they were supposed to, which is to gradually increase the price of the remaining tokens. This has not happened. The tokens are worth less now while at the same time the value they effectively generated was burned/destroyed instead of being distributed.

If you want to argue with the BTC price rise and the disproportional devaluation of altcoins in relation to the valuation of BTC/fiat, then simply this buyback&burn system does not insure against BTC price fluctuations and therefore is unsuitable for its proposition.

Pretty much every UIA is falling, less peerplays.  It's early investors leaving the BTS ecosystem.   Each UIA has been some version of a pump and dump. Yes, the charts look like there is more activity, but it's just bots trading back and forth with each other.

Offline ngdias

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Nonono.
I get the theory, but this concrete, practical case it not following the theory.
The tokens are worth less now than what people paid for one year ago. That's true either in BTS or USD. The purchasing power of the OBITS bought one year ago is lower now. And there were buybacks&burn every month. The case is even worse if OBITS were bought and held since lets say 6 months ago.

I'm not demanding OBITS to outperform BTC. I'm expecting the the buybacks to do what the theory says they were supposed to, which is to gradually increase the price of the remaining tokens. This has not happened. The tokens are worth less now while at the same time the value they effectively generated was burned/destroyed instead of being distributed.

If you want to argue with the BTC price rise and the disproportional devaluation of altcoins in relation to the valuation of BTC/fiat, then simply this buyback&burn system does not insure against BTC price fluctuations and therefore is unsuitable for its proposition.

Offline hammurabi

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In spite of the monthly buybacks the price of OBITS in BTS is 25% lower than 1 year ago, around the time when OBITS was launched. See my other post here https://bitsharestalk.org/index.php/topic,23329.msg300582.html#msg300582

I don't see how this buyback and burn could possibly be benefiting any investor *holding* the tokens, as the price of OBITS is actually going down instead of going up:
https://coinmarketcap.com/assets/obits/
http://cryptofresh.com/a/OBITS_BTS

There is a net loss at the moment and all this time coins were being burned instead of distributed and no value is actually being added to the remaining tokens! What a waste...

"4. it is very clear that the biggest holder of OBITS publicly available decided to vote for buyback and burning, and his own comments have been made clear various places that he does not like the sharedropping, as it will complicate taxation issues, and him personally preferred a passive asset gradually becoming worth more by the redution of total supply via burning."

This biggest holder is the boss, is that it? I was counting number of votes on the OBITS voting website, not voting power. Where does it say in the voting page that votes are weighted according to voter's bag size? What taxation issues? Is there any taxation issue going on right now with the trades at OpenLedger and the profits people are making there?

"We are here for the long run, and OBITS is the center of it all "
Long run? It's been 1 year, and during all this time OBITS were generating a profit, which was being destroyed instead of generating value for the investors. I don't see how you're going to convince anyone to invest on OBITS going forward with this track record.


Destroying/burning the token is a very efficient way of distributing profit.
You need to read more on the supply & demand theory :)
There is no problem with burning other than us as we like to see increasing numbers like in fiat economy.

Think BTC, if you were holding 1 BTC from 2010 you would still have 1 BTC today. But the purchasing power is so much greater.

Also notice that BTC went up significantly this year and you are demanding obits to outperform it.


Offline ngdias

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In spite of the monthly buybacks the price of OBITS in BTS is 25% lower than 1 year ago, around the time when OBITS was launched. See my other post here https://bitsharestalk.org/index.php/topic,23329.msg300582.html#msg300582

I don't see how this buyback and burn could possibly be benefiting any investor *holding* the tokens, as the price of OBITS is actually going down instead of going up:
https://coinmarketcap.com/assets/obits/
http://cryptofresh.com/a/OBITS_BTS

There is a net loss at the moment and all this time coins were being burned instead of distributed and no value is actually being added to the remaining tokens! What a waste...

"4. it is very clear that the biggest holder of OBITS publicly available decided to vote for buyback and burning, and his own comments have been made clear various places that he does not like the sharedropping, as it will complicate taxation issues, and him personally preferred a passive asset gradually becoming worth more by the redution of total supply via burning."

This biggest holder is the boss, is that it? I was counting number of votes on the OBITS voting website, not voting power. Where does it say in the voting page that votes are weighted according to voter's bag size? What taxation issues? Is there any taxation issue going on right now with the trades at OpenLedger and the profits people are making there?

"We are here for the long run, and OBITS is the center of it all "
Long run? It's been 1 year, and during all this time OBITS were generating a profit, which was being destroyed instead of generating value for the investors. I don't see how you're going to convince anyone to invest on OBITS going forward with this track record.

Offline openledger

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The BuyBack today with the following burn of 46 497 OBITS executed. Congrats!



What a mess (fraud?)?
Why purchase Obits/BTC transaction took place a December 5, rather than December 2?
You stole my potential income, and my time I spent waiting for redemption on December 2 !!!

Why December 2nd ransom Obits/BTS = 442 200 instead 731 883?

I demand:
1) urgently brought into line with the statement ransom Obits now!
2) from the next month to make binding SHAREDROPP BTC and BTS instead of false OBITS BURN!!!
3) stop selling Obits privately (outside blokchain).

It is possible that the results of the vote (sharedropp) were modified 2 day prior to the end completely the opposite (Burn) is due to such sales.

Actually,I think that sale of (especially private sale) by the issuer in private voting shares at the time of the vote - is nonsense!!!
Return sharedropp - it is the people's choice!

I urge support me in the comments if you agree with my point of view. (Or tell me where I'm wrong)


1. burn was one on the 5th instead of 2nd simply due to me personally forgetting this part as I had already burned the equvalent at the time, waiting for btc to arrive to obits acount, so that was unfortunate, bottom line however is that the amount burned was what it was suppoed to be at the time. The fact that you may or may not have missed out on that day, we can discuss by you sending me an email with copy of your placed order, and when you removed it, and I will be happy to buy that amount from you, no problem.

2. There is no false burn, we are however using funds during the month to buy up OBITS cheapest way possible for the goal of burning and reducing total every single month. Goal for the interest of all holders an clearly stated from voting specially from the ones holding bigger voting power that the more OBITS burned, the better.

3. OBITS is sold at minimum orders of minimum 100 000 per order on the base of market price adding extra 5% on top for the price to be market price x 1,05 finally. It does not matter when this is happening, but because of these comments and recent experiences, there will be much more focus on making sure that anyone buying this way cannot sell for at least 3 months after the deal ha been made.

4. it is very clear that the biggest holder of OBITS publicly available decided to vote for buyback and burning, and his own comments have been made clear various places that he does not like the sharedropping, as it will complicate taxation issues, and him personally preferred a passive asset gradually becoming worth more by the redution of total supply via burning.

5. I am personally in favour of sharedropping, and come march next year I expect we can offer a new vote for this, as I expect by this time that overall total supply will have been reduced to maximum 15 million, and all 15 million will have been made available to the public(except the amount reserved as OBITS.WARRANTS2017 as part of both GetGame and Apptrade early bird sales), and as well available on 3-4 exchanges minimum, and also I expect we can offer a 2% dividend monthly based on marketcap value. Why? well both apptrade early bird sales as well as the next days early bird sale of GetGame with our Dinomess Geogame are going to be a part of the DC, more info on this in the investor docs, but bottom line is that 10% of the funds will be used to buy back OBITS on feb. 2n 2017. On top of this an agreed 12% of both Apptrade and Centz ICO crowd sales and early bird sales will be shared among ICOO holders and OpenLedger ApS after the various DC ICO costs have been deducted.

Just to be clear, if I have an amount of 100K USD to be used for buyback Feb. 2nd, I will buy back up untill the amount of 49 BTS and equvalent in BTC and burn whatever I have received, so 90K USD would be used on BTS market and 10K on the BTC market, and if anything left it will stay at this price untill anyone should be willing to sell into that, otherwise it will be a new level of the OBITS price with 15 million OBITS(minus warrants)available to the public. 49 BTS is becasue this is 2x the price originally set as base price for OBITS at the end of its ICO back in the day, which hould allow anyone to profit even if they decide to sell at this time.

I believe you will see very soon, that we are doing all we can to make all of this autopmatized, so that any delays do not happen in future, it is very important the further we come into the new year as I expect an believe that OpenLedger and its ecoystems will kick some serious butt in 2017 and anyone who has invested at this early stage will reep the benefits at any time they wish in 2017 as well and with a nice profit to go with it.

I hope this more or less answered your issues otherwise please do send me an e-mail ronny@ccedk.com or in PM. I dont like any fraud accusations, but I understan the need for some clarification, and hope I have manged to so with this as wll a perhaps given you some news for the future months a well. We are here for the long run, and OBITS is the center of it all with OpenLedger DC as the powerhouse making it all happen.

Yours sincerely

Ronny Boesing
CEO
OpenLedger ApS

« Last Edit: December 06, 2016, 02:19:03 pm by ccedk »
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Offline ccedk_pro

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The BuyBack today with the following burn of 46 497 OBITS executed. Congrats!

The link to burn soon to be.

90% OF AMOUNT FOR BUYBACK: 731 883 BTS

10% OF AMOUNT FOR BUYBACK:  0,3838 OPEN.BTC










Learn More about OBITS www.obits.io on Coindesk and Forbes

OBITS charts:

CoinMarketcap.com: https://coinmarketcap.com/assets/obits
CryptoFresh.com: http://cryptofresh.com/a/OBITS

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« Last Edit: December 02, 2016, 03:25:15 pm by ccedk_pro »
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