Obits

[paliboy]

Sharedrops can have tax consequences that a buyback will avoid.

Plus maybe not all obits holders want bts or open.btc. Doing a buybacks is simpler and cleaner than sharedropping an entirely different investment on obits holders.

Plus there are a lot of non-active accounts that own OBITS because they received them after registration - see e.g. sunny88.

[lil_jay890]

Sharedrops can have tax consequences that a buyback will avoid.

Plus maybe not all obits holders want bts or open.btc. Doing a buybacks is simpler and cleaner than sharedropping an entirely different investment on obits holders.

Usually I say damn the tax consequences but hokay well buyback won so status quo. Your point was not one I saw before the vote. Hopefully OpenLedger sees some good action this month. Reducing supply slowly will increase the price. It would be nice to see some more transparency on what % of their profits are used to buyback OBITS.

The quote I had earlier was before I realized that the sharedrop was going to exclude the large "Obits" and "CCEDKbts" accounts.  I originally planned on voting for the buyback, but then switched to the sharedrop.  But since the vote was never counted, I guess the point is moot...

[KenMonkey]

Sharedrops can have tax consequences that a buyback will avoid.

Plus maybe not all obits holders want bts or open.btc. Doing a buybacks is simpler and cleaner than sharedropping an entirely different investment on obits holders.

Usually I say damn the tax consequences but hokay well buyback won so status quo. Your point was not one I saw before the vote. Hopefully OpenLedger sees some good action this month. Reducing supply slowly will increase the price. It would be nice to see some more transparency on what % of their profits are used to buyback OBITS.

[KenMonkey]

Sharedrop benefits everyone proportionately while buyback and burn benefits those who perfectly place their orders and sell at the max buyback price, benefiting the few.

Exactly. Especially as large amounts of OBITS are still unsold. The one party benefiting the most from buyback&burn scheme is CCEDK itself.

yep. Well, buyback and burn is still good, but I don't love it. I wish it were a sharedrop from the start. A couple more people have voted, but unless we get a surge of votes for sharedrop it looks like buyback will win with only 18 votes compared to 56 for sharedrop.

even for the very wealthy sharedrop makes sense, it's a nice return on your investment. Hopefully some Obits whales will see this and sway the vote, but tomorrow is the last day!

[Frodo]

Sharedrop benefits everyone proportionately while buyback and burn benefits those who perfectly place their orders and sell at the max buyback price, benefiting the few.

Exactly. Especially as large amounts of OBITS are still unsold. The one party benefiting the most from buyback&burn scheme is CCEDK itself.

[lil_jay890]

Unfortunately the OBITS voting has swung to the "buyback and burn" option over the "sharedropping"

I encourage all obits holders to vote for the sharedropping option on obits.io/voting!

right now there are 55 votes for sharedrop and 18 votes for buyback, but the buyback is winning because of 1 or 2 heavily-weighted votes. Let's get in on this and use the strength of crowds to sway the vote.

Sharedrop will increase the overall value of the obits token. When you sell obits there is a .3% market fee that I'd rather not have to pay to get my profits. Sharedrop benefits everyone proportionately while buyback and burn benefits those who perfectly place their orders and sell at the max buyback price, benefiting the few.

Vote Sharedrop! Thanks everyone!

xoxo

Sharedrops can have tax consequences that a buyback will avoid.

Plus maybe not all obits holders want bts or open.btc. Doing a buybacks is simpler and cleaner than sharedropping an entirely different investment on obits holders.

[KenMonkey]

Unfortunately the OBITS voting has swung to the "buyback and burn" option over the "sharedropping"

I encourage all obits holders to vote for the sharedropping option on obits.io/voting!

right now there are 55 votes for sharedrop and 18 votes for buyback, but the buyback is winning because of 1 or 2 heavily-weighted votes. Let's get in on this and use the strength of crowds to sway the vote.

Sharedrop will increase the overall value of the obits token. When you sell obits there is a .3% market fee that I'd rather not have to pay to get my profits. Sharedrop benefits everyone proportionately while buyback and burn benefits those who perfectly place their orders and sell at the max buyback price, benefiting the few.

Vote Sharedrop! Thanks everyone!

xoxo

[mr-whitekey]

Before OL can take off it will need to run more smoothly, be a little more polished and have features like a normal exchange.

[mr-whitekey]

Nice, thx. It is a modest rate of return at current usage, but a return none the less.

[KenMonkey]

Whoa. Okay. Obits are about 10c not 1c. So that's a return of 1.3% a month not 13%. I was about to freak out and buy heaps more, but still, Obits makes a good investment especially if OpenLedger gets huge, which I think it might in the next 12 months. If just one major exchange has a failure the unstoppable Bitshares exchange will benefit.

Yes I know OpenLedger is a centralized exchange like any other exchange, but at least you own the tokens and there's nothing they can do to stop you accessing that. Do your trades on OL and then keep your funds in BTS or non-OL-backed assets and you're a million times more secure than Poloniex or Bitfinex.

[KenMonkey]

I've been doing some calculations on obits just to see what's cracking and if it's a good investment. Please correct me if I'm wrong.

Right now obits are around 1c (usd) each. If the switch to sharedrop goes through, which I think it will (see obits.io/voting) I've done a calculation for how much I'll be getting back on a $100 investment.

OpenLedger has been very transparent with the data from obits and I expect they'll keep doing that. Over the last few months on the 2nd of each month Obits has put between 1 million and 3 million BTS towards a buyback of Obits. (obits.io : buyback history)

I think October will be a good month (with BlockPay and BTC:peerplays as well as obits trading itself generating big fees) so let's assume a 2 million BTS sharedrop on a 7,202,031 Obits supply:

10,000 Obits/7,000,000 Obits (my share of the supply) * 2,000,000 BTS * .005 BTS/USD = $13.84

That's a pretty insane return. In <10 months I'd have over 100% gain. Is this right?