OBITS BuyBack Feb. 1st - 900k BTS / 7 BTC reserved so far!

[openledger]

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-A TOKEN OF APPRECIATION- -VALUE BASED ON EXCHANGE NETWORK PROFITS-

[testz]

Do you or do you not claim 900K to be your (Open Ledger) revenue?

Cause for me it is an arbitrary number loosely related to your revenue ... the same way the total supply of BTS is loosely related to my personal exposure to crypto.

Using a random number of Obits you decide to buy back is highly irresponsible... I will go on to say that the only purpose of such actions must be to mislead the holders of the sad-note tokens regarding revenue and profits as well as muddy the waters of the finances regarding those tokens and your venture.

Staring with that, I just wonder what will be the next thing you do just cause you can do it physically? Issue yourself some new OPENBTC and buy back OBITS with them?

I will rephrase just for you tonyk

935 000 BTS is so far is listed as cashback, and to me this is the profit of OpenLedger as we have decided to cover the costs of Lifetime fees paid of some 532 000 BTS so far elsewhere.

I have at no time tried to hide or say that this is profit coming from anywhere else, and always given links to where I get the figures. The fact that we decide to let the OBITS hodlers who wish to participate in buyback receive as much as possible for this purpose, what is it to you? Where does it say that we have to deduct the costs and only offer the difference. Some people have to deduct their costs before they can deliver the profits to be used for buyback. We have decided to offer as much as possible in this first buyback, and that is our decision, and i asume that no OBITS hodler will argue against this either.

We know we have this as cost, and we have decided to cover that from the OBITS sales, so what is the problem?

And what is this about a random number of OBITS for buyback? There is no random number. The amount of OBITS used for buyback is based on the total profits we are able to deliver at the time of buyback, and as a minimum the cashback mentioned in below link is already a visible amount to consider as a minimum.
http://cryptofresh.com/u/openledger-reg

Dear obits writer,

the cashback you continue pointing to is not your revenue... to say nothing about it being your profit.
It is indeed a randomly chosen number [is it visible - yes, I have never said it was not]. Number  you have full control over. You can  increase it at will, and do so without any relation to your business or its revenue.

You can talk all you want what expense you have decided to cover with what... but all you are saying [whit such non existing in the real world concepts] is that you have the cash to do so [which no one argues you do].

Looks like you start talking to yourself. Let's make this simple, everybody understand that you think about OBITS, so, thanks for sharing your opinion.

PS: for your new signature, I like it 

[tonyk]

Do you or do you not claim 900K to be your (Open Ledger) revenue?

Cause for me it is an arbitrary number loosely related to your revenue ... the same way the total supply of BTS is loosely related to my personal exposure to crypto.

Using a random number of Obits you decide to buy back is highly irresponsible... I will go on to say that the only purpose of such actions must be to mislead the holders of the sad-note tokens regarding revenue and profits as well as muddy the waters of the finances regarding those tokens and your venture.

Staring with that, I just wonder what will be the next thing you do just cause you can do it physically? Issue yourself some new OPENBTC and buy back OBITS with them?

I will rephrase just for you tonyk

935 000 BTS is so far is listed as cashback, and to me this is the profit of OpenLedger as we have decided to cover the costs of Lifetime fees paid of some 532 000 BTS so far elsewhere.

I have at no time tried to hide or say that this is profit coming from anywhere else, and always given links to where I get the figures. The fact that we decide to let the OBITS hodlers who wish to participate in buyback receive as much as possible for this purpose, what is it to you? Where does it say that we have to deduct the costs and only offer the difference. Some people have to deduct their costs before they can deliver the profits to be used for buyback. We have decided to offer as much as possible in this first buyback, and that is our decision, and i asume that no OBITS hodler will argue against this either.

We know we have this as cost, and we have decided to cover that from the OBITS sales, so what is the problem?

And what is this about a random number of OBITS for buyback? There is no random number. The amount of OBITS used for buyback is based on the total profits we are able to deliver at the time of buyback, and as a minimum the cashback mentioned in below link is already a visible amount to consider as a minimum.
http://cryptofresh.com/u/openledger-reg

Dear obits writer,

the cashback you continue pointing to is not your revenue... to say nothing about it being your profit.
It is indeed a randomly chosen number [is it visible - yes, I have never said it was not]. Number  you have full control over. You can  increase it at will, and do so without any relation to your business or its revenue.

You can talk all you want what expense you have decided to cover with what... but all you are saying [whit such non existing in the real world concepts] is that you have the cash to do so [which no one argues you do].


*Here is a short and not full list of money you spend that increase your revenue ...

-register account for somebody else - 80% of those you consider increase in your revenue
- transfer funds- 80% of those you consider increase in your revenue
-fee to create an asset- 80% of those you consider increase in your revenue
... the list goes on and on...and I will  not even talk at length of registering an account for non existing user and upgrading it to life time membership.

[openledger]

Do you or do you not claim 900K to be your (Open Ledger) revenue?

Cause for me it is an arbitrary number loosely related to your revenue ... the same way the total supply of BTS is loosely related to my personal exposure to crypto.

Using a random number of Obits you decide to buy back is highly irresponsible... I will go on to say that the only purpose of such actions must be to mislead the holders of the sad-note tokens regarding revenue and profits as well as muddy the waters of the finances regarding those tokens and your venture.

Staring with that, I just wonder what will be the next thing you do just cause you can do it physically? Issue yourself some new OPENBTC and buy back OBITS with them?

I will rephrase just for you tonyk

935 000 BTS is so far is listed as cashback, and to me this is the profit of OpenLedger as we have decided to cover the costs of Lifetime fees paid of some 532 000 BTS so far elsewhere.

I have at no time tried to hide or say that this is profit coming from anywhere else, and always given links to where I get the figures. The fact that we decide to let the OBITS hodlers who wish to participate in buyback receive as much as possible for this purpose, what is it to you? Where does it say that we have to deduct the costs and only offer the difference. Some people have to deduct their costs before they can deliver the profits to be used for buyback. We have decided to offer as much as possible in this first buyback, and that is our decision, and i asume that no OBITS hodler will argue against this either.

We know we have this as cost, and we have decided to cover that from the OBITS sales, so what is the problem?

And what is this about a random number of OBITS for buyback? There is no random number. The amount of OBITS used for buyback is based on the total profits we are able to deliver at the time of buyback, and as a minimum the cashback mentioned in below link is already a visible amount to consider as a minimum.
http://cryptofresh.com/u/openledger-reg

[tonyk]

Didn't expect OpenLedger to make such profits since October.

Haha that is a case of a obits writer trying to run a busses.

Damn I wish I was a taxing agency...even at 3% tax...the way they calculate their 'revenue' and 'profits' will make the country the richest...in no time.

tonyk with his astute mind has spoken up in cryptic words again. Let me guess what he was trying to say.  The 900K bts (approx USD3000) cash back earned by openledger-reg seems like the revenue gained since the web wallet launched.  If this is indeed the revenue, that begs the question - where are the costs eg cost of registering new users, cost of operation, cost of man-power, cost of office rental, cost of utilities, other cost of business?  What is the profit after less off the costs and tax?

I will be happy to mention again what has already beem mentioned earlier. The costs of registration of new users and any other costs included in the amount of Lifetime fees paid of around 515 000 bts so far as you can see for yourself on the link to openledger-reg from cryptofresh or on platform itself we have decided to consider part of the initial investment cost, and although it is not so that we will say these costs will be covered by us for years, it is at least as long as the costs stay below the profits, a cost we take ourselves, taking that cost from the OBITS sales as long as there are OBITS supply available, and instead offer the full profits to be shared among the OBITS hodlers.

As the platform is involved with crypto only, any profits or losses for that matter do not need to be reported to the Danish tax authorities, since Denmark legal entities like the Danish FSA and the Danish Tax Council do not consider results exclusively concerning crypto.

As long as we have an exchange like CCEDK or alternative income we consider OpenLedger an investment for the future(therefore we do not deduct our monthly costs from the OpenLedger profits) just as well as we consider OBITS being the currency of the future showing clearly the success or failure or OpenLedger. I say both, as the success is clearly all about how much people get involved. If all parties involved are so called sleeping partners we do have a problem, but one of the reasons I decided to focus on BitShares in the first place was the big community and its interest in making a difference.

Put in another way, when we reach a point where we have a significant daily profit on the base of traffic and trade and daily increased user base it is the time to make the work of a self preserved business where costs and earnings are calculated prior to any payouts in form of buyback or dividends.

Do you or do you not claim 900K to be your (Open Ledger) revenue?

Cause for me it is an arbitrary number loosely related to your revenue ... the same way the total supply of BTS is loosely related to my personal exposure to crypto.

Using a random number of Obits you decide to buy back is highly irresponsible... I will go on to say that the only purpose of such actions must be to mislead the holders of the sad-note tokens regarding revenue and profits as well as muddy the waters of the finances regarding those tokens and your venture.

Staring with that, I just wonder what will be the next thing you do just cause you can do it physically? Issue yourself some new OPENBTC and buy back OBITS with them?

[openledger]

Hi Ronny, what will happen with the token unsold?
for example, on January 31 about 10 million obtis not be sold, will be burned?
thanks

Hello salva,

I do not consider the question unsold as such, since the belief is that OBITS will be on the hands of many different OBITS hodler in future. The amount of OBITS created was based on an estimated value of OpenLedger within a two year period, and not based on having to be sold prior to first buyback. We have estimated that we needed minimum 20% sold to be sucessfull and we reached this in 3 weeks.

You may have noticed that we offered a fixed sell price on platform as well as OBITS.io site above any market price to insure the space for anyone wishing to sell and only trying to be there in case of any sudden demand on the markets of OpenLedger or CCEDK.

Once we offer the buyback we will for instance pull all our sell orders and leave OBITS hodlers wishing to sell as the only ones involved every time of buyback.

Once buyback is done, we will maintain price we had previously unless the sell orders from OBITS hodlers land on a rate higher than our set rate as we would in this case adjust for this rate as the new sell wall price, so we will follow the market when we add our sell wall, and in the same time we will not go lower than the price we introduced around Decemeber 1st which is 24,50 bts per OBITS.

[openledger]

Didn't expect OpenLedger to make such profits since October.

Haha that is a case of a obits writer trying to run a busses.

Damn I wish I was a taxing agency...even at 3% tax...the way they calculate their 'revenue' and 'profits' will make the country the richest...in no time.

tonyk with his astute mind has spoken up in cryptic words again. Let me guess what he was trying to say.  The 900K bts (approx USD3000) cash back earned by openledger-reg seems like the revenue gained since the web wallet launched.  If this is indeed the revenue, that begs the question - where are the costs eg cost of registering new users, cost of operation, cost of man-power, cost of office rental, cost of utilities, other cost of business?  What is the profit after less off the costs and tax?

I will be happy to mention again what has already beem mentioned earlier. The costs of registration of new users and any other costs included in the amount of Lifetime fees paid of around 515 000 bts so far as you can see for yourself on the link to openledger-reg from cryptofresh or on platform itself we have decided to consider part of the initial investment cost, and although it is not so that we will say these costs will be covered by us for years, it is at least as long as the costs stay below the profits, a cost we take ourselves, taking that cost from the OBITS sales as long as there are OBITS supply available, and instead offer the full profits to be shared among the OBITS hodlers.

As the platform is involved with crypto only, any profits or losses for that matter do not need to be reported to the Danish tax authorities, since Denmark legal entities like the Danish FSA and the Danish Tax Council do not consider results exclusively concerning crypto.

As long as we have an exchange like CCEDK or alternative income we consider OpenLedger an investment for the future(therefore we do not deduct our monthly costs from the OpenLedger profits) just as well as we consider OBITS being the currency of the future showing clearly the success or failure or OpenLedger. I say both, as the success is clearly all about how much people get involved. If all parties involved are so called sleeping partners we do have a problem, but one of the reasons I decided to focus on BitShares in the first place was the big community and its interest in making a difference.

Put in another way, when we reach a point where we have a significant daily profit on the base of traffic and trade and daily increased user base it is the time to make the work of a self preserved business where costs and earnings are calculated prior to any payouts in form of buyback or dividends.

[openledger]

I don't get something here. Are people really excited that a company made $3000 profit in two month? Or am I missing something?

In some parts of the world that is an entire year of pay.

In Denmark???

I am sorry, I was under the impression this project is meant for the world to use, and right now you start speaking about profit or not based on 4000 users give or take without any of the real fee generators even added yet. The fact that a project like this based on users and meant for users all over the world is already now making profits is the unique part in this, not how much it is.

Its ok to be pessimistic and constantly trying to look for the bad, but then again, if you insist on making this bad you will always find a way, just dont think everybody is thinking like you and expecting a quick buck, when the whole idea is building something where the people believing are the people eventually winning.

I have not even had time to introduce this project to Danish speaking user yet, as main focus was to get an overall representation on platform to begin with making each user actively using platform an ambassador for the platform itself telling someone else about using the best possible marketing tool mouth to mouth.

[salva82]

Hi Ronny, what will happen with the token unsold?
for example, on January 31 about 10 million obtis not be sold, will be burned?
thanks

[cube]

Didn't expect OpenLedger to make such profits since October.

Haha that is a case of a obits writer trying to run a busses.

Damn I wish I was a taxing agency...even at 3% tax...the way they calculate their 'revenue' and 'profits' will make the country the richest...in no time.

tonyk with his astute mind has spoken up in cryptic words again. Let me guess what he was trying to say.  The 900K bts (approx USD3000) cash back earned by openledger-reg seems like the revenue gained since the web wallet launched.  If this is indeed the revenue, that begs the question - where are the costs eg cost of registering new users, cost of operation, cost of man-power, cost of office rental, cost of utilities, other cost of business?  What is the profit after less off the costs and tax?

[yvv]

I don't get something here. Are people really excited that a company made $3000 profit in two month? Or am I missing something?

In some parts of the world that is an entire year of pay.

In Denmark???

[BunkerChainLabs-DataSecurityNode]

I don't get something here. Are people really excited that a company made $3000 profit in two month? Or am I missing something?

In some parts of the world that is an entire year of pay.

[yvv]

I don't get something here. Are people really excited that a company made $3000 profit in two month? Or am I missing something?

[testz]

We'll see how it goes.

who cares how it goes???

Let five plus them now, when we can!

 


also 900,000 is a good, big number!

 

  for tonyk 

[tonyk]

We'll see how it goes.

who cares how it goes???

Let five plus them now, when we can!

 


also 900,000 is a good, big number!