BURNING 5.6% SPI tokens - Hardcap goes down = Dividends go up!

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Hello, SPIer's. BURN BABY BURN.

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Would you like to get $7400 from SPinvest? All you need to do is buy a bunch of SPI tokens and....wait. The less you buy, the longer you'll have to wait. One SPI investor did just that, they took their profits off the table and the transaction took 3 days to complete but only because our liquid HIVE was in savings and it takes 3 days to unlock otherwise it would have been 30-40 minutes. Not too many investment tokens on HIVE can offer such a service for its token holders. In fact, the SPI token is the only one because we can and others can't. Simple as

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The last big SPI token buyback was for 11,500 (11.5% of all SPI's) and we paid 43 cents for each one. That total was $4995 and was paid out in USDT, took a few hours to go from a request to transaction complete. SPI is beautifully set up to be liquid when it needs to be. Think about that second. SPI was able to buy back 11.5% of its total fund value in a few hours back then. A few days ago, we bought back 5.6% of the total fund value which has 4x since the last big buyback. It took 3 days because we were waiting for the withdraw from the saving wallet. Now, im not comparing but what if a company like Apple, Tesla, Facebook bought back 5% of their market cap and did it at the drop of a hat. The share price would surely moon to high heavens. Obviously, it's easy for SPI cause we're very small but it's still something to consider when thinking about which hive-engine tokens to invest in for the long term. $20,000 of tokens you can only sell $10 worth of a day is a job for the next 2000 days or 5.47 years. Them paper profits sure do make you feel rich but if you can't sell them, you may as well have pissed your money up a wall instead and had a good time cause having a bunch of tokens that are worth a bunch of money that you cant's sell at a decent price is stressful.

It sort of pisses me off when I see people chatting on discord and saying SPI is a scam because there is no proof we hold the assets we claim to hold. SPinvest did this buyback with 20,000 HIVE and 0.0366 BTC at a moments notice. Anyways, I guess people can only judge on what they know and if they dont know anything, then whatever. The good news, we got a free BTC transaction from Nexo so that's $15-25 saved. We get 1 per month :)

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We've lost 20,000 HIVE and 0.03666 BTC. Most of these HIVE will be replaced by most likely ETH and for the next few months, powering up some earning. Would be nice to get back to around 90,000 powered up.

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We've gained 5,591.92 SPI tokens. SPI already hold around 4500 SPI's that are used for weekly dividends which are roughly 150 per week so we have plenty already. We could have done 2 things. Well, we could have done a bunch of things but the main 2 were.

1/ Airdrop them to tokens holders, for every 100 tokens you currently hold, you would receive a further 5.6. This would have reduced the value of SPI each token by 5.6%, so you hold more but they are worth the same.

2/ Burn them. I got some feedback from content producers and account operators and pretty much everyone wanted a BURN. So burning these tokens will give SPI token hardcap of 94,408.08 tokens. Now, this number will annoy me so at some point when we are holding some folding money, we might burn a few more to get it to a better number. 94,000 is much better, I know it is the same thing but it looks better, LMFAO!! Burning has no change to token holders at all, the price remains the same.

Other options were to sell them, use them to pay operators/team members, swap them with other project operators for their tokens are even run a weekly lotto for 100 SPI tokens for 1 year. Burning them is easy and reducing the supply might have an effort on supply/demand but I dont think so because they have been sat in the same wallet for a long time and sending them to null is sorta the same thing except for 1 thing I has just come to me

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Everyone's SPI dividends are up 5.6%

This is gonna be the title. Yep, everyone dividend share will increase. So burning them seems to be the best option. I dont think the burn will be much for supply against demand but maybe we buy back $2000 from someone in a few months and we burn again.

Please be aware that burning SPI tokens is the same as burning real assets. The total fund is now lighter 20,000 HIVE and 0.3666 BTC, it's gone. As the offer is for 95%, SPI token holders gained $373.31 from 5% and dividends will increase a little to boot 😎

Let's start the Ceremony

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On behalf of my SPI bothers and sisters, i would like to begin by thanking everyone that is here today. We have received countless phone calls, emails, visits and flowers and of course thoughts and prayers. They have been comforting during this time and have been a reminder of how the 100,000 hardcap affected many investors. The real growth came after the hardcap of course as we know.

My name is @silverstackeruk. I am the one that brought these SPI tokens into this world and i feel proud like a father to send them off to @null, to their last resting place to be gone but not forgotten.

These SPI did not lead an active life, i admit they spent all of their time from creation to @null in only 2 wallets. The issuer to the investor and back again to the issuer after merely only 438 days after birth on the HIVE blockchain. My theory is these SPI tokens lead the perfect life. They were issued to an investor who HODLed these SPI tokens knowing they were worth something. These SPI produced around 400 new SPI for their owner through weekly SPI dividends and they all grew in value over time. When the owner decided to sell them and take profits, they are sent to out of existence. The seller could not be here today, he's off to Vegas. These SPI worked hard for their owner and lead the perfect life and we lose also a top 10 token holder yeast not we forget.

Far well ye 5,591.92 SPI tokens
May your burning add value and growth to your remaining brothers
You will be remembered as the time we dumped a shit ton of HIVE to do a buyback and then had to buy them back.

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Hardcap has dropped 5.6% and everyone's weekly dividends have increased

Happy BURNING Y'ALL!!

Show some love with a big upvote, we just freaking lost 5.6% of our total fund.

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8 comments
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having a bunch of tokens that are worth a bunch of money that you cant's sell at a decent price is stressful.

I recently learned that. 😂

Thanks for the update. Your sense of humour is much appreciated as always. 😍

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You have to get burned to know where to the limit to play are :)

As long as you learn from these things, you'll always do better.

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Very nice. I assume the buy back was done off HE.

If you like round numbers then maybe you can burn 5,000 of it and use the other part as prizes.

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Those poor burned tokens, making like a burial mound and pushing up daisies only in stead of flowers, bushing up dividends.

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$20,000 of tokens you can only sell $10 worth of a day is a job for the next 2000 days or 5.47 years. Them paper profits sure do make you feel rich but if you can't sell them, you may as well have pissed your money up a wall instead and had a good time cause having a bunch of tokens that are worth a bunch of money that you cant's sell at a decent price is stressful.

Everyone endlessly talks about the percentage return that you get on your Hive-Engine tokens.

But nobody mentions that you can never actually sell them because liquidity is non-existent.

Always be careful reading shill posts from investors with vested interests.

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