Investors VOTE - Subject, Current token issue rewards (voting lasts 1 week)
Good day everyone, i have good news/bad news. Today i will be mostly talking about the SPI token distribution rewards for hitting targets on issuing certain amounts of tokens. We smashed through 10,000 in just under 1 month and we could hit the 25,000 tokens issued target sooner than i had guessed if things keep going the way they have been. SPI is starting to pick up some pace and the price of STEEM is only 17 cents so a few people have been making smart investments not only into STEEM but into SPI. Im gonna try and keep this one short and to the point, so let's get into the post
Steem powered investments @spinvest has been set up to offer an investment fund based on funding from STEEM POWER. Investments are funded through extracting value out of STEEM POWER and taking advantage of STEEM's high inflation rate. The aim is not to get rich quick; the aim is to build a safe portfolio of investments that will stand the test of time while insuring all investors starting capital is not at risk. Full details can be found here
Whats the news?
The news is SPI tokens have been flying out, token sales in the past week have been over 3000 which makes my head spin when i think about it. When i first thought about token distribution, i had no pie in the sky visions. I know im trying to push 1 million tokens which is a big number in STEEM, 0.29% of all STEEM out there to be exact but i thought most tokens would have ended up either airdropped, paid in dividends to investors are something like that. I honestly thought that it would have taken 6 months to issue 10,000 and a year to issue 25,000 and there would have been money already earned to pay for these rewards. Problem is the idea has been accepted by more people than i thought and i expected lots of small sales but it's not been like that at all. People seem to really like the idea and they are investing decent amounts. When i see someone buying 3 are 4 digits amounts of SPI tokens, im happy for 2 reasons. 1, More STEEM POWER to earn money from and 2/ I feel validated that people dont think im trying to pull a scam somehow. I guess they see the value in the token and like what im doing. SPI currently has 4 investors holding more than 1000 tokens and 18 holding over 100 tokens. It's not a bad problem to have and selling tokens faster than we can build up enough reserves to pay out a reward is 100% a good thing for the future and SPI in general. However the rewards will need to be adjusted as paying out a juicy dividend in 4-8 weeks time could cripple the true value of each token. When i hosted the 200 SPI giveaway on issuing 10,000, @spinvest had only made just over 250 STEEM so that cost us around 80% of all earning's at that time. I would rather see token value growth over so rewards right now in these early stages.
To sum to up really
Good News
SPI tokens are selling much faster i thought so we'll growing fast
Bad News
Gotta cut token issue target rewards
Its up to you what we do
I have been thinking about this the past few days and to be honest i cant really think what is best to do. I would like to issue some sort of reward but a 2-5% dividend might be to much before SPI has built up any decent holdings.
I am going to host the 1st investor's vote were token holders get to decide on our fate. Rules are pretty simple. There are 3 selections to pick one, each one is a comment below. You can cast your vote by upvoting and leaving a reply to your selection, any upvote % and comment will do. Dont be shy with the upvote either, trying to make some money here, lol.
- You must own at least 25 SPI tokens to vote
- You must upvote any amount and reply to your selection below
- Votes will be counted when this post pays out
- Vote's are weighted depending on SPI tokens owned (see below)
- New SPI token distribution structure will be released within 48 hours of results
The voting system is weighted
This might seem a little harsh but i think that someone who has more win are lose should have a bigger say in how things are ran. Weighted community voting is fairly common in crypto.
25-99 SPI's will earn a vote equal to 1
100-499 SPI's will earn a vote equal to 2
500-999 SPI will earn a vote equal to 3
1000-2499 SPI's will earn a vote equal to 4
2500+ SPI's will earn a vote equal to 5
Have your say in the next reward and get your vote in, feel free to drop your 2 cents on the subject as well, all feedback is always welcome.
How to buy SPI tokens
Below are the new steemconnect hotlinks that allow investor's to buy directly from @spinvest. Each token is priced at 1.10 STEEM each and beside each link is the true STEEM cost to reduce confusion. You can also send any amount directly to @spinvest and i will issue you SPI tokens to 2 decimal places for the value of STEEM to send. All tokens bought directly will be sent to investors SE wallets within 24 hours but most likely much sooner.
Convert other steem-engine tokens to SPI tokens
Most of us by now earn a few different tokens through other steem front ends are have been airdropped tokens during launch ect. I have wrote a step by step post that shows anyone how to convert other steem-engine tokens into SPI tokens. You can learn how by clicking here
Get in contact
Discord Invite - Click Here -
I go by silverstackeruk#3236 if you would like to DM me
And the cherry on the cake
What do you have to lose? What token has a operator with so much faith they offer a 92% buy back
Resteeming is a wonderful way to spread the word and get as many eyes as possible on this. Let's get a buzz going
C, please 😎
We are actually just "postponing" the rewards for a time, not losing it. But I do not really see how issuing the rewards slows growth, we still have the same amount of capital behind the tokens, regardless of the fact that we may or may not issue a small number increase as the reward. BUT, we have one large incentive to postpone the reward, we can advertise that the token is worth more since the same amount of steem is backing a lower issued number of SPI. It makes the growth more apparent 👍
I also suggest sticking with the "revaluation" schedule.
Paying the rewards earlier means that we would lose the compounding benefit of the amount that was taken out of the fund, plus the point that you are making 💪
Yes, delaying the bonus keeps the apparent value of the SPI token HIGH, and should attract more new investors! As for me, I have about a 10 week planned investment schedule, (+/-) and hopefully I can get a good price before my new inputs drive the prices UP due to greater capital infusion
🤑💲💰💲🤑
Hehe - yes, by investing we're creating our own high prices!
Agreed!
except, the "fund" value remains the same, SPI just issues more tokens on the same number of Steem… Think of it like a Stock Split, if it is 2:1 you have double the shares at half the value, each. The SPI tokens are issued as dividends of the overall fund value. They are not "purchased" by SPI, he is the issuer 😎 Unless there is a small fee levied by Steem Engine, and AFAIK that is all up front, when the max # of tokens is determined. In this case One Million.
@spinvest we need a clarification, Please
The rewards at 25,000 were planned as a 3%-5% dividend payout, not more coins issued.
How were we "paid dividends" at the 10k level, Huh?
😎😋
Moar SPI
OK, I tire of this, here's @spinvest's own answer:
https://steemit.com/spinvest/@spinvest/investors-vote-subject-current-token-issue-rewards-voting-lasts-1-week#@spinvest/pwdbb7
And I Quote:
10k rewards were MOAR SPI, 50k Rewards are planned to be 1k SPI, and I suspect the 25k is planned to be 500 SPI, all split proportionally amongst the SPI holders. Why would 25k be a STEEM dividend payout? THINK ABOUT IT!
@shanibeer SEE ABOVE
hi @underground :)
Here's the growth plan:
Source
Have a !BEER !
Sorry, out of BEER, please retry later...
I vote for option C. Agree with get rich slowly fund and more important to grow fund and value of the coin than give out short-term rewards.
I select 'C'. It is a long-term investment, so let's earn it for a long time.
I'll vote for C, but would like to know if you will keep the rewards at 2-5% for at 50,000? If so yes C. If you are going to keep changing rewards I thibk it will hurt the continued sales of the tokens. Once you put sonething out to shareholders you need to stick to it. Just my opinion.
The reward planned for 50,000 is a 1000 SPI giveaway. lol. Sounds like alot but 50k SP should earn 1k STEEM in a month. I dont the token value dropping 20-30% to issue a reward, at the end of day @spinvest is still worth the same either way just less tokens issued.
And i agree, once it out there, i should not take it back.
C.
Build the nest egg. More important to get it growing as opposed to rewarding holders.
It is get rich slowly after all.
HAAAA - I should have that into the post
I vote for C. This is a get rich slow operation anyway. :)
Also would dpoll be a good option for voting going forward? I have never created one, so not sure how labor intensive it might be. Just and idea, please don't shoot the messenger. ;)
Yeah i seen dpoll and will prob use it in future but i thought if i made it this way, i could get some extra upvotes :)
Dpoll is prob less labour for me so thanks for reminding me about it.
I will cast my vote for option C. A dividend this early on in my opinion would diminish the value of the token. The earnings so far have not really had time to compound much yet. Happy to accept the majority vote whichever way it goes, but I think the profits need more time to compound.
I think alot of us are thinking the exact same thing. Give it timeto earn something first.
Thanks man
I would also maybe suggest, (and we could vote on this?) that we possibly only dole out rewards every 100,000 tokens issued... Just a thought. Every 50k is a bit often.
Doing the RV (revaluation) weekly is not the best, it should be on a schedule of Price rather than Time. The last RV of 1.1 Steem per SPI is a good stair-step value. Perhaps if we hit 1.2 too fast, we could look at 1.5 or another price, but it needs to strike a balance between speed of growth and selling too cheaply.
Does that make sense? 😱
Hey man, If the 25k issue reward is held off then we'll have a reward at 50k, 100k, 250k, 500k and than 1 million. By putting off the 25k, we should have enough time to save some up before we hit the 50k target and then after that, everything should cool.
The weekly true valuation is just the true value of the token, the selling price on changes when we hit token issued targets.
So Price Changes would be tied to the sales targets 50k, 100k, 250k, etc?
Sounds great, I will keep that in mind :)
GOOD PLAN!
Well, first of all, good news on the good news, that's great to hear!
Good that we've got coins in, but investment is growing at a faster rate than the returns that would fund dividends and other giveaways. Is that correct?
What is the proposal under C - what rewards would be paid then? The existing proposal is for 1000SPI giveaway. Would that remain the same?
In the draft agreement, it says that members must hold a minimum of 10 SPIs to vote - should the agreement and this vote be consistent?
1st - Yes that is correct. We have not yet stacked up enough payouts yet. When i did the 200SPI giveaway it wiped out 80% of our 1st months profit
2nd - I think that by the time 50,000 are issued, we have have earned over 4000 STEEM based on it taking 6 months to get there. If not, we hold another investor vote. Feel free if you have idea's that are not that labour intenstive
3rd- That is true but having got no feedback on the agreement, i figured only a handful read it and i could slip this under the radar, hahaha. Guess you caught it. I'll release the final agreement in a few weeks and then we can start taking on members but this one was done quickly to test out how many people vote. I see 2 votes for A already but they have not left comments yet so vote VOID.
I've written some feedback about the draft partnership agreement and rules in this post. Happy to do a final draft/proof-reading, if that's helpful. I'm away next week, but back on Wednesday 28 August.
I'll check it later this evening, thanks for taking the time.
Enjoy your week off, i'll not around on the 28th as it's my wedding ann :D
Oooh, have a lovely time! 😊
Okay :)
I was thinking that if Steem keeps dropping we might get to 50,000 very quickly. But 4,000 earned steem is a good threshold, happy to go with investor votes if that's a solution.
Ha ha - good to run a pilot anyway :)
To clarify, for our vote to count:
should reply to one of the three options offered in the comments.
I see at least 2 more for "C" that did not vote for that comment, nor comment under it. Once voting closes, it will be pretty easy to get a solid count Mr. SPI 😎
Option C works for me as well. Those 2% payouts will not make the difference but the token price will rise anyway
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