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Messages - ngdias

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1
Can we have an official post with the results of the voting? The graphs changed significantly and the numbers do not match in percentage and numbers of votes.

2
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.

3
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.

4
OBITS website sold the asset also as a long-term investment:
"4. OBITS tokens can be traded and used as a speculative instrument or as means of profiting from a long-term cryptocurrency investment."

But in spite of the monthly buybacks, the price just keeps going down. 11 months ago, a 10k BTS investment in OBITS would yield about 408 OBITS. If those OBITS would be sold today, they'd be worth about 7500 BTS. In USD, that was an investment of 33.6 USD that is worth today 27.3 USD. Every time there is a buyback, there is an increase of price, but that seems to be only temporary, and does not translate to a real value increase of the token as time goes by. The long term chart is very clear, although right now it doesn't get displayed in the webpage (using Linux, either Firefox or Chromium).

I understand that as a speculative instrument, if you buy and sell every month you can set yourself for a nice profit, but as a hold and wait this buyback system seems to be a terrible idea.
What was the voting result after all - the final numbers are messed up - and what is going to happen in the future?

5
Yea, I read your post. The system generated a login for each holder and you could not vote twice, so it should be possible to see if the numbers add up in the end.

I'm really not impressed about this whole asset business of OBITS and beyond and the governance doesn't seem very transparent either. I invested some and convinced family to invest too, but I'm about to pull out, if this sharedrop change doesn't go through. I'm loosing money after almost 1 year when every month the value was supposed to go up. It's ridiculous.

6
What is happening with OBITS voting? It now says that 19 votes for BuyBack & Burn account for 51% of the votes and 57 votes for Sharedropping account for less?? (38%).
Just before the vote ended, the percentages agreed with the number of votes -  see other posts up this thread. What is going on with the voting results and where is the official acknowledgement of the end result and its consequences?

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