Could you please clarify the options we have? a) I got but what is option b)?
a) Receive 1/13th of your cash out every week starting April 6th and get last payment on June 29th
b) ??
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Could you please clarify the options we have? a) I got but what is option b)?
a) Receive 1/13th of your cash out every week starting April 6th and get last payment on June 29th
b) ??
Some people are looking to cash out SPI tokens. If you sell some back, you will recieve your cash out over 13 weeks.
I get it, but is there another option? What happens if I not sell out?
The option is for people looking to sell some.
I'll try to clarify for you.
Options each SPI hodler needs to consider:
a - as you say, receive 1/13 each week as you say.
b - try to sell on Steem Engine or find a willing buyer for OTC trade.
c - HODL on, and stay with the SPI long term course.
This fork is currently very good for SPI, depending on how much we end up getting for our STEEM powerdown in the way of off-chain investments, we end up well in front of where we were pre-fork.
Not financial advice, but SPI is worth a lot more today than it was pre-fork. That increased value is divided by the same number of units we are well in front and have a plan to try and get as much of our STEEM converted in to off-chain investments. BTC, Gold/Silver and Stocks.
I personally am going to try and turn my liquid steem as it powers down into as many SPI tokens I can - will be looking bargains.
Not financial advice, but I hope that helps.
JK.
Didn’t SPI received airdrop from Hive?
Yes it did. This is why the fund is worth more now than pre-fork. STEEM is being Powered down, HIVE remains powered up for the long term.
Got it, thank you. Then our shares from the power down will be added and allocated back to the fund and/or dependent upon what the majority wants to invest it in, correct?
Yes - the proceeds of the STEEM power down still belong to the SPI holders. The liquid will be used for off-chain investments.
We are working on specific details for a couple of members that may want to request a buyback of their SPI. A plan will be finalised but it will probably involve buying SPI tokens back at 95% of the STEEM valuation over 13 weeks, with the valuation adjusted weekly. As the value of STEEM declines (if indeed it does what many of us expect), the SPI / STEEM rate changes.
Hopefully most (if not all) stick with the long term plan and we can get most or all of the STEEM powerdown into significant off-chain assets.
Please note: these are just me sharing my personal thoughts and understanding of what's happening, not the official SPI policy. My understanding may differ from the eventual outcome and should be taken as an opinion, not fact. Not financial advice.
Yes, understood. Thank you. Will stick with the plan.
Have a great day.
Got it, thanks.
No need to buy back at the moment.