You are viewing a single comment's thread from:

RE: BLOODY IMPORTANT QUESTION: should we consider STEEM-ENGINE tokens a security or utility?

in #blockchain • 5 years ago

Dear @shanghaipreneur

I cannot find a way to express how grateful am I for your comment.

I've been thinking: what if someone would like to create token on steem-engine, which would allow him to raise funds (STEEM tokens). Then he would use those tokens to grow his influence within STEEM blockchain and monetize it later on (by starting up digital marketing company).

And later on on monthly basis he would use part (let's say 20%) of real income in FIAT (taxed) to buy-back created token and burning it (decreasing supply and eventually buying back all previously "sold" steem-engine tokens)

Any thoughts on that kind of business model?

Yours
Piotr

5 years ago in #blockchain by
$0.59
  • Past Payouts $0.59
  • - Author $0.45
  • - Curators $0.15
3 votes
Reply 6
Sort:  
  • Trending
    • [-]
     5 years ago  

    Two questions I have there:

    • Is anything ever sold into fiat?
    • Where does the fiat income come from?
    $0.58
    • Past Payouts $0.58
    • - Author $0.44
    • - Curators $0.14
    3 votes
    Reply
    [-]
     5 years ago  

    Dear @shanghaipreneur

    Is anything ever sold into fiat?

    Not by me. However let's I would use those raised steem for promoting purposes (mostly steem-bounties), perhaps to reward few people supporting my growth on daily basis (to avoid transfering funds I would bost their publications with upvoting-bots).

    Where does the fiat income come from?

    I would have my business legally registered and I would offer my services to Polish IT businesses looking for forign exposure (in english language). Those companies would receive invoices, taxes would be paid. And I would use part of profit to buy-back earlier realeased tokens and burn them.

    This way whoever would purchase my token, would know that supply is constantly shrinking.

    Yours
    Piotr

    $0.57
    • Past Payouts $0.57
    • - Author $0.43
    • - Curators $0.14
    3 votes
    Reply
    [-]
     5 years ago  

    I do like the idea , yet personally I think You should have into consideration a way of making profit parallel that could allow some stability in a "down phase", but that might be me thinking ahead of time..

    About the %, maybe burning a lot less, making the burning phase last longer, allowing for more people to benefit of, both the tokens and the digital marketing company services, again, this is just my very limited view on the subject, there are many variables to take into account that are not known to form a better opinion, still, the idea doesn't seem bad at all..

    Ok, maybe a small percentage could be redirected to a trading bot, or traded manually to raise some of the overall profit instead of burning it at the ratio mentioned, I don't really know, just throwing out an idea =X

    All the best,
    Cy

    P.S.: Yes, I'm still awake x_D_Hey there dear @Crypto.Piotr,

    [-]
     5 years ago  

    Dear @cyberspacegod

    Thank you for your prompt reply. However I'm not sure what do you mean by "down phase"

    ps. hope you rested a little bit. don't be a robot! :)

    Yours
    Piotr

    [-]
     5 years ago  

    Ohh, I mean, all tokens/coins are affected by some sort of inflation/deflation, according to what they are based upon, all of them are a form of exchange.. Pretty much like STEEM, with the ups and downs of BTC, the contracts in which it is used.. Something like that ^^)

    All the best,
    Cy