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Openledger / Re: [OBITS]BuyBack and Burn in December executed with 813 204 BTS = 3,838327 BTC
« on: December 18, 2016, 04:09:46 am »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.