RE: Next weeks SPinvest club vote - Steem-engine plan required
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Don't want to sound like an asshole here, but i don't see another way:
Are you mad because a trader saw an oportunity on a free and open market to profit from the spread? I am not familiar with what this project is about or how it works, but once you put an asset to be traded openly in a free market, well... thing like this will alway happen.
Good traders always see these oportunities, and they will always take advantage of what is called "market imperfections".
So, instead of blaming the guy that is profiting from this opportunity, just focus on adjusting your distribution model.
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I'm not mad because someone sees the opportunity and takes advantage, I'm mad because of who the person is.
Long story short, Steem-engine is not ideal for SPinvests model and if i could remove the tokens from the exchange i would.
i will take a look at your model, see if i can come up with some other idea, but what about use another token platform? there is a lot of alternatives, to create a token that might offer some market options...
For example, i remember that in the Waves DEX, you can set some rules about how much can be traded, or how long an order is allowed to be on the book.
Not sure if it would help, but...
The token is set up for steem so wouldn't work anywhere else. I think it's a matter of adjusting the framework or coming to some kind of understanding.
I can see both sides of the story and they are both right so it's a bit of a shitter
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Can you explain further? Who is it and what does that mean?
It's not you.
People have been trading SPI tokens from day 1, small volumes and by people, i have never heard of. When i see a confirmed member trading, it boils my blood because that member most likely knows that they are cutting off SPinvest's main growth source to make themselves a few STEEM. Maybe they are not aware and think it makes no difference.
From my point of view as the founder and admin, i guess. I see it like this, for example, someone every week buys's 1000 tokens at 0.955 and resells the same 1000 tokens for 0.995 to make a 40 STEEM profit for the week. Good for that person but your savvy enough to understand that SPinvest will have issued 1000 tokens less that week because the trader has undercut SPinvests selling price. Does sound like a person you what to be a confirmed member? Someone that will take a 2000 STEEM profit over a year but sort get in the way of SPinvest issuing 50,000 new tokens and adding them into circulation as a consequence.
Ballpark numbers
A trader buys and flips 1000 SPI tokens a week for 1 year and makes a 2080 STEEM profit.
SPinvest loses out on issuing 52,000 new tokens which are worth 10,400 in earnings at 20%. If there are 90,000 tokens issued now and we add 52,000 we get roughly 140,000. We can work that the confirmed member trader has cost every other token holder 0.07 STEEM of potential growth for each token they hold. Someone with a decent holding of say 500 SPI tokens stands to lose 35 STEEM of potential growth. If it is a trader i've never heard of off, what can i do cause i know most likely this is just a random person that has spotted the spread and is making a few STEEM. It's different when its someone that has been buying tokens for months and actively reads the posts are someone that is a confirmed member. I understand why people do it, i am proud to say i have been banned/limited are locked out of well over 100 different bookmakers from my arb betting. Screwing over bookies who depend on addicts is one thing and screwing over fellow token holders is another. That's not a jab at you, that's my view.
I'm not trying to be a dick are awkward but i have almost $14,000 of other people's money to protect and i have put in too many fooking hours to let the project go sideways in terms of the total fund value. 100,000 tokens is not the target, its 1 million so it's pedal to the metal and things this like to speedbumps. I have always been aware that SE is not the best place for SPinvest format but there are no other options until SMT's are released. There will be some trial and error but a solution will be found in the end.
I would not have written a reply like this for everyone but i know that you will read it. Shit now i gotta go and write today's post.
STEEM ON!!