The new BYT proposal has passed its deadline, and we have a clear result.
YES 75.2%, NO 0%, no-vote 24.8%
So, the BYT program and token will be winding down from 1 December until 31 March 2023. There will then be 2 further months to clean up any remaining buybacks, during which time no further distributions will be made.
As described in the proposal, the token will slowly turn its asset value, the capital, into income distributions. This means the price will slowly decrease. I hope everyone is clear that this price drop is not due to a loss of asset value, but rather that value has been paid out to token holders as income.
Once we get to December, I shall also simplify the weekly data as presented in posts. Some of those parameters will become slightly meaningless, and shall be removed. The headline rate will be kept as it will still hold meaning, and one of the new parameters, the cumulative payouts, will be given more prominence, including a progress chart.
The target of the winding down process is to see how far above 1.0 HIVE/BYT we can get, given that was the starting price. As a quick calculation, the BYT token is currently worth about 0.77 HIVE, with over 0.52 HIVE already paid out as income, giving a total value of 1.29 HIVE. So, if it were possible to just freeze the fund now and pay out all assets at current prices, then the average token holder will get back 1.29 HIVE for each BYT.
I expect that as the active fund becomes smaller, that this value may fluctuate considerably. I cannot predict the future; all I can do is chart a course, and what we find at our destination remains to be seen.
Thanks to all who voted on the proposal.
PS. My apologies; I wrote this a few days ago and just noticed that I forgot to post it!
We qhould at least keep the price afloat and stop dumping it .
There are new investors and i am a large investor and even though we get good amount of coin coming each week for just a month now...crashing the price with your different accounts dont sound really fair .
Do you ever read the weekly analysis of the fund?
"new investors" are either clueless and haven't read we're winding down (and I've seen that happen before) or are playing the price game hoping that the income plus final price will be higher than the current price. The latter is a risky but also reasonable strategy.
Maybe read this = https://blurt.blog/byt/@blurtyield/new-byt-proposal-nov-2022
I did read .... when you say i dump , i try ro keep the coins at a decent price but you keep on selling super low with your different accounts ..
Each time i look , it is always lower , because you sell ...
And you tell me i dump ! you want me to have zero in one week ?
So what would be the best course of action? Selling the BYT tokens around March? Is this project over?
I have designed it like this so users can make a choice - either to keep receiving the income and sell tokens at the end, or sell now - or any other strategy.
I cannot predict the future, eg this week went better than expected, but many tokens are bouncing up and down, so is very much a personal judgment.
I got back ( at the end of february ) barely 5k hive out of my 16k hive i have invested in byt .
I wont talk about the blurt coin i bought , maybe in 10 years i will get back what i have invested in blurt coin ... but for byt it is over you keep on dumping the price and i lost grately on a project i trusted , a so called amazing project designed by a very smart man ...yeah
Not better than chronocrypto in hive ...chapter closed , thank you for the rugpull.
We're in January - no idea which Feb you're talking about.
Do try to understand the winding down process.
Do also go and do some arithmetic and calculate the sum of all the income you have received.
That you may have bought some BYT and BLURT at their highs about 9-12 months ago is nobody's fault.
You may also wish to expand your awareness that HIVE itself has dropped in the last 12 months from about $1.5 to the current 35-40 cents. Go blame Hive too!
Oh so i buy 10500 byt at the highest price and sure RIGHT after it falls to 90c and below to never come back up .
No ones fault , just me not lucky and all other investors ...beside the ones who deserted when it time instead stupidely of believing in the project like i did .
Thanks !