Author Topic: OBITS VOTING. Please feel free to leave your comments and suggestions  (Read 15801 times)

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Offline ngdias

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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.

Offline yvv

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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 lil_jay890

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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 ngdias

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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 KenMonkey

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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 lil_jay890

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Hi @ccekd, @ccedk_pro, 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

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Hi @ccekd, @ccedk_pro, 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 prebuffo

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 Check  : http://obits.io/voting/

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

 WTF?

Offline lil_jay890

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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 JonnyB

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1. Stick with Buyback and burn.

but maybe do more of the buyback with OPEN.BTC
I run the @bitshares twitter handle
twitter.com/bitshares

Offline l0000

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Buyback & Burn, and set order @ any price ,not buyback on maket price.+5% +5% +5% +5%

Offline prebuffo

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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 prebuffo

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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 paliboy

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 l0000

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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 »