Author Topic: OBITS VOTING. Please feel free to leave your comments and suggestions  (Read 4151 times)

0 Members and 1 Guest are viewing this topic.

Offline ccedk_pro

  • Moderator
  • Hero Member
  • *****
  • Posts: 1079
    • View Profile
Dear OBITS holders,

Due to lots of requests from OBITS holders connected with the way the monthly share of revenues on OpenLedger and the potential of sharedropping of OBITS (a sort of dividend structure) is to be handled in future, we decided to offer all holders the option to vote and to find out: to cancel or not cancel the monthly buybacks & burn. OBITS holders are given the rights to decide what is the best way for OBITS.

As we have some questions with previously started voting we decided to make more detailed description of options among which you are suggested to choose.

Will start from general example. If OpenLedger monthly profit equal to 5,000,000 BTS, than we take as usual 90% of profit in BTS and 10% in BTC equivalent.

The first scheme: buyback&burn.
Nothing will change. Buyback and burn will be held every month as we did it before. OBITS will be bought for 4,500,000 BTS and BTC (bought for 500,000 BTS on the market). All bought back OBITS will be burnt.

The second scheme: sharedropping.
OpenLedger profit will be sharedropped among OBITS holders. We use the same numbers from example. If somebody owns 10% of all OBITS he will get 450,000 BTS and sum of BTC equal to 50,000 BTS (sum depends on market price).

The third scheme:  50% buyback&burn, 50% sharedropping.
In terms of our example 2,250,000 BTS and BTC equal to 250,000 BTS will be used for buyback&burn, and the same sum will be used for sharedropping.

Please let us have your comments and even suggestion to any shorter version with same meaning for us to present this to all OBITS holders end of next week around sept 22. We Would Them allow the voting process to run until end of October 2016

Thank you!



Offline fav

  • Administrator
  • Hero Member
  • *****
  • Posts: 4201
  • No Pain, No Gain
    • View Profile
  • BitShares: fav
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #1 on: September 16, 2016, 04:55:03 pm »
I'd prefer & vote for the 50/50 option
► How-to Buy BitShares: https://goo.gl/i9j2YZ

Offline Customminer

  • Sr. Member
  • ****
  • Posts: 452
  • Bitshares FTW!
    • View Profile
    • Gridcoin.US
  • GitHub: grctest
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #2 on: September 16, 2016, 05:00:31 pm »
The buyback&burn raises the value of user's held Obits, so in a way it's like sharedropping onto Obits users without having users sell the asset on the network. I'm in favour of option 1 - buyback & burn.
Hertz, Beyond Bitshares, Gridcoin!

Offline abit

  • Committee member
  • Hero Member
  • *
  • Posts: 3077
    • View Profile
    • Steemit Blog
  • BitShares: abit
  • GitHub: abitmore
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #3 on: September 16, 2016, 07:55:51 pm »
I support 100% sharedrop. Although I don't have much obits right now.
BTS account: abit
BTS committee member: abit
BTS witness: in.abit

Offline llildur

  • Full Member
  • ***
  • Posts: 54
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #4 on: September 16, 2016, 10:38:29 pm »
I think buy back and burn is still the best option, sharedroping will share the unsold obits too.

Offline ripplexiaoshan

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 2133
    • View Profile
  • BitShares: xiaoshan
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #5 on: September 18, 2016, 04:22:55 pm »
Anyone can calculate the equivalent annual return rate of OBITS, if all of the profits be sharedropped?
 
BTS committee member:jademont

Offline prebuffo

  • Jr. Member
  • **
  • Posts: 20
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #6 on: September 18, 2016, 05:28:04 pm »
As I am an Obits holder I'm opposed to any form of sharedropping.

The reason is simple: Only a part of obits are currently sold by ccedk. So sharedropping give part of dividends to unsold obits holders, I mean Obits Issuers.

Direct burning affect only the obits on the market, so I strongly belive that sharedropping will destroy obits value.
 
And there is more , the main problem whit Obits market value  is that is listed only oin the bitshares exchanges ( mainly openledger )
 
Sharedropping will qualify Obits more as a Share than a Cryptocurrency, and there are problems to list shares on poloniex or other exchanges, it seems that they prefer cryptocurrencies.

So I support the option  BuyBack & Burn. Plese fell free to discuss this important topic BEFORE the next voting poll.

Offline coinvc

  • Newbie
  • *
  • Posts: 1
    • View Profile
  • BitShares: coinvc
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #7 on: September 18, 2016, 10:41:19 pm »
I love buyback & burn! But I suggest place buyback order at a little higher than the highest bid price not just simply buy up!

Offline l0000

  • Jr. Member
  • **
  • Posts: 21
    • View Profile
  • BitShares: l0000
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #8 on: September 21, 2016, 08:22:49 am »
I support the third scheme,but not 50%
1.divid percent according to the percent of the OBITS solded.for example : If OpenLedger monthly profit equal to 5,000,000 BTS and Obits has solded 40% to the market,then 40% of the profit divid to the solded OBITS holders,60% of the profit buyback&burn on market,and so on.
2. I suggest place buyback order at a little higher than the highest bid price not just simply buy up!
3.when obits reached its sold aim(maybe 70% or 80%?), 100% of the profits should be divided to 100% obits holders, include the  unsolded OBITS that  holded by ccedk.
« Last Edit: September 21, 2016, 09:37:36 am by l0000 »

Offline paliboy

Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #9 on: September 21, 2016, 11:07:03 am »
I love buyback & burn! But I suggest place buyback order at a little higher than the highest bid price not just simply buy up!

 +5% I agree that this should be added as fourth option

Offline prebuffo

  • Jr. Member
  • **
  • Posts: 20
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #10 on: September 24, 2016, 10:13:07 pm »
I love buyback & burn! But I suggest place buyback order at a little higher than the highest bid price not just simply buy up!

 +5% I agree that this should be added as fourth option

Totaly Agree, buy on ask is not the right strategy, the purpose of every buyback is to burn as much Obits is possible, not to pump the price for some minutes.

Offline prebuffo

  • Jr. Member
  • **
  • Posts: 20
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #11 on: September 24, 2016, 10:22:16 pm »
Anyway, I give you more reason to vote on Buyback & Burn.

As you probably know, Obits is a great project that give real revenue NOW. But it's market cap is low. The main reason is clearly Bitshares itself, Open Ledger and other bitshares markets right now don't give any real decent liquidity to any token. So one of the best option to boost price and liquidy is apply for other markets, Bittrex and Poloniex at first.

Sharedropping is a messy problem for exchanges.

1) It qualify any token or cryotocurrencies as a Share (regulatory and fiscal problem for dividens)
2) It rappresent a cost and a technical problem to manage sharedropping for every account, just immagine Poloniex that handle shardropping in its cold wallet to any holder. Come on!

So please vote for Buyback & Burn

Ah and I have a question: What are the "good reason" to change the rules? I haven't read any argument here and in the presentation of this voting poll. .


Offline l0000

  • Jr. Member
  • **
  • Posts: 21
    • View Profile
  • BitShares: l0000
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #12 on: September 26, 2016, 04:20:35 am »
Buyback & Burn, and set order @ any price ,not buyback on maket price.+5% +5% +5% +5%

Offline JonnyBitcoin

Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #13 on: September 26, 2016, 10:14:25 am »
1. Stick with Buyback and burn.

but maybe do more of the buyback with OPEN.BTC
I vote for liquidity and simplicity. Make me your proxy?
BTSDEX.COM

Offline lil_jay890

  • Hero Member
  • *****
  • Posts: 1193
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #14 on: September 26, 2016, 04:23:12 pm »
1. Stick with Buyback and burn.

but maybe do more of the buyback with OPEN.BTC

Buyback and Burn obviously is much easier with tax implications.  But doing dividends and sharedrops encourages people to take their Obits off of the centralized exchanges.

Offline prebuffo

  • Jr. Member
  • **
  • Posts: 20
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #15 on: September 30, 2016, 07:59:38 am »
 Check  : http://obits.io/voting/

 it seem that the Voting on Obits Policy Change is resumed.

 WTF?

Offline KenMonkey

  • Full Member
  • ***
  • Posts: 112
    • View Profile
  • BitShares: kmnk
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #16 on: October 01, 2016, 06:57:37 pm »
Hi @ccekd, [member=42214]ccedk_pro[/member], Ronnie,

Hokay. If sharedropping wins the vote, we better not see any of the profit going to the accounts "obits" or "ccedkbts" or "ccedk-cold" or related accounts. The OBITS in those accounts should not be calculated as part of the total. right?

That would be outrageous. PLEASE ASSURE US that trying to change this thing to sharedropping is not a scam.

Thanks in advance.

-Kendall

Offline lil_jay890

  • Hero Member
  • *****
  • Posts: 1193
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #17 on: October 02, 2016, 01:37:28 pm »
Hi @ccekd, [member=42214]ccedk_pro[/member], Ronnie,

Hokay. If sharedropping wins the vote, we better not see any of the profit going to the accounts "obits" or "ccedkbts" or "ccedk-cold" or related accounts. The OBITS in those accounts should not be calculated as part of the total. right?

That would be outrageous. PLEASE ASSURE US that trying to change this thing to sharedropping is not a scam.

Thanks in advance.

-Kendall

He already said that those accounts would be excluded from the sharecropping

Offline KenMonkey

  • Full Member
  • ***
  • Posts: 112
    • View Profile
  • BitShares: kmnk
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #18 on: October 03, 2016, 12:13:26 am »
Oh super, I didn't catch that. Where was this already clarified?

 Sharecropping sure got easier in the modern day lol.
« Last Edit: October 03, 2016, 12:15:14 am by KenMonkey »

Offline ngdias

  • Newbie
  • *
  • Posts: 6
    • View Profile
  • BitShares: ng-dias
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #19 on: December 02, 2016, 07:23:00 pm »
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?
« Last Edit: December 02, 2016, 07:25:03 pm by ngdias »

Offline lil_jay890

  • Hero Member
  • *****
  • Posts: 1193
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #20 on: December 02, 2016, 08:12:25 pm »
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?

Every asset bought in the BTS ecosystem seems to constantly lose value... The assets are pumped hard when they are first introduced, and when those assets don't go to the moon immediately after launch, the early buyers dump.

Plus BTS is in a constant downtrend as well...

Offline yvv

  • Hero Member
  • *****
  • Posts: 1177
    • View Profile
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #21 on: December 02, 2016, 08:36:50 pm »
Quote
but as a hold and wait this buyback system seems to be a terrible idea

This seems to be an excellent idea for CCEDK. By selling OBITS, they basically borrowed money from a bunch of people. Now, by buying back, they are basically paying off their debt ... to a guy who is asking least of all. They sold for more, they buy back for less -> good for them.

Offline ngdias

  • Newbie
  • *
  • Posts: 6
    • View Profile
  • BitShares: ng-dias
Re: OBITS VOTING. Please feel free to leave your comments and suggestions
« Reply #22 on: December 21, 2016, 03:35:56 pm »
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.