Hello to all spinvest members abroad! Last weeks vote has been counted and vote weights have been tallied. The vote was well dispersed across the 3 STEEM options available for our next off-chain investment in Bitcoin. Here is a rudimentary table with vote weights summed together for each option of STEEM for our next off platform investment.
| STEEM Value | 1,500 | 2,000 | 2,500 |
|---|---|---|---|
| Summed Vote Weights | 10 | 12 | 15 |
From the table, we can see that it was a close race for all 3 options, but 2,500 STEEM was the winner with a total voting weight value of 15. With that said, the vote weights have been added, checked and double checked to ensure the numbers are all correct.
Our next off-platform investment will be 2,500 STEEM invested into Bitcoin. The price has been on the rise as of late, but anything under 10k is still a pretty good price to buy-in. This investment will only add to our growing BTC Celsius wallet, earning interest, and helping our off-chain investment portfolio grow slowly (right in line with our motto). @spinvest main acct. will provide updates accordingly with how this off-chain investment proceeds. Please stay up-to-date with posts as they are being placed on the immutable blockchain on a daily basis. There's a lot happening with @spinvest and branch accounts @spinvest-leo and @spinvest-neo (thanks @silverstackeruk; @jk6276; and @underground for all the hard work!)
This weeks vote will be centered around whether or not we add an addition to the original SPinvest partnership agreement. The vote will be a simple yes or no vote; however, the premise behind this addition stems from an issue we have been having with members taking advantage of the system (the same reason we decided to add the 99.99% buyback wall).
P.S. Thanks to @everyone that helped build that wall!!
There has been some instances where members have tried, attempted, and successfully taken advantage of bonuses through trading loopholes. For example, if spinvest were to offer a bonus, say 5%, on all token sales to confirmed members, then someone could then turn around and sell the SPI tokens they bought plus the bonus for a small turnaround profit. Since we recently added the 99.99% buy wall, spinvest would be subject to an immediate loss of 5 STEEM. It doesn't seem like a lot, but as more people become interested in SPinvest, join as confirmed club members, and begin to exploit these potential loopholes, then 5 STEEM could easily turn into 500 STEEM or 5,000 STEEM over a greater period of time.
In order to prevent this from happening in the future, we shall vote on whether or not we add an addition to the partnership agreement. The addition would help mitigate these concerns from happening in the first place and also help spinvest expand growth potential by not losing out on a few STEEM here or there, adding up to a larger sum over time.
Club vote #013:
Should SPinvest add that official and confirmed club members are strictly prohibited from abusing, in any way; shape; or form, and taking advantage of spinvest through trading, buying and then re-selling, or any way thereof, which inherently hinders, harms, or damages the entirety of the investments club for reasons pertaining to personal profit?
Club Voting Rules
-Confirmed SPI club members only
-1 vote per member
-Your vote must be cast as a comment to be counted
-Voting more once will result is no vote
-Voting will last for 7 days until post payout
How to Vote
In the comments below, there will be comments by @spinvest-votes. Each comment will contain information about each selection. To cast your vote, please leave the reply "Confirmed SPI member" to your selected option. There is no need to upvote but i can't stop you. Remember, it's as easy as 1,2,3
-Make your mind
-Find your selection in the comments below
-Leave a reply with the wording "Confirmed SPI member" to cast your vote
Here is a list of current confirmed club members:
If your name is not on this list, then please let me know in the comments below so I can add you to the growing list of community members
Option 2:
NO - Don't add an addition to the partnership agreement.
Confirmed SPI member.
"Add an addition" is too generic. How about listing the future additions and then taking the vote?
Posted via Steemleo
Totally disagree.
Who is going to determine what is classified as abuse?
Every single member will have a different opinion on what's morally correct so to have a blanket statement to cover all is wrong imo.
As a member if I see a loophole I should point it out.
Its then down to the group to figure out a away to counter it.
This whole issue could have been simply solved much earlier as we knew who was buying direct then selling.
All that needed to be done was give a warning then stop selling to the individual but we wanted to sell tokens so that was alright.
I am not condoning the actions, but that's clever coz noone else spotted it and I would rather have someone like that in my club that can see an opportunity.
Posted using Partiko Android
"All that needed to be done was give a warning then stop selling to the individual"
Did this with 2 confirmed members already, I'd rather stop the problem compared to monitoring it. A blanket statement is the only thing that will work as loopholes and techniques are always changing.
Getting a bonus and reselling it for an instant profit is not smart, no wits required. I'd rather have someone that could tell us if BTC is gonna finish up are down every day!! :) are someone with a big STEEM wallet and influence.
Good feedback, thank you
Oh yeah confirmed spi member lol sorry forgot with the rant and all lol
Posted using Partiko Android
Confirmed SPI member.
Confirmed SPI member.
Confirmed SPI member
Option 1:
YES - Add an addition to the partnership agreement.
Confirmed SPI member.
I would like to see this widened to all cover all investors, not just Club members, plus a further addition to the Partnership Agreement setting out what will happen to any member or investor that engages in behaviour detrimental to the Fund.
Happy to help with the drafting.
Not possible to extend it to all token holders as they bought and sold freely on the SE exchange.
As far as consequences to confirmed members that take advantage of some bonus, for example, all we can do is remove them being a confirmed member and not send any member rewards. We cant make anyone sell their tokens. I would say most people would dump their holding on the news of being removed but not everyone.
Confirmed SPI member
Posted using Partiko iOS
Confirmed SPI member.
Clubs need rules. Here is decentralization to the detriment.
Congratulations @spinvest-votes!
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