Another 'big investor' here (let's say I'm in top 5). I understand why some of us are becoming impatient - while most of other coins brings hundreds % of profits, MNM stays below ICO level, it is illiquid so no one can really sell their coins and if you count on dividends you would need to wait probably 10 years to get your investment back.
Well, this is the risk you take with any investment, specially in crypto world.
As an experienced investor (not only in crypto) and an entrepreneur (running my own startup) and without diving into lots of details, I can tell you that Mineum is definitely not a scam. In fact my opinion on this project is positive from the very beginning and I see them progressing in the long term.
The problem is they didn't raise enough capital during the ICO to push things forward quickly. I imagine they are struggling now - with the whole hardware they had to buy, probably no cash left to build a proper team. The founders put 100% of their time into main areas of operations, so other fields (communication through PR being the most important IMHO) are left abandoned. Taking all those things into account, they do a really good job...
But we are here to discuss the progress, to protect our investments and to help direct the project so everyone is happy with the incoming profits.
Maybe it's not clear for other ppl here, but 10% yearly dividend is perceived as quite good when you keep 'normal' stocks.
Of course, this is crypto world, with much higher risk, so it's natural that we all expect much more.
The strong positive fact about Mineum is that it brings regulars profits. If you look at Poloniex coins, how many of them have any profits? I leave it to you as a homework
Basically, in crypto, we all gains from increasing coins price. The problem we have with MNM is that we can't have it as it's stuck below ICO price.
So i believe all our efforts should go into fixing that problem. This is why we have this new Buy Back proposal and the vote.
Buy Back works is real world and it works in crypto. There are 4 main things it will help us with:
1. Increasing the coin price
2. Increasing the liquidity (non existent now)
3. Providing a chance to being listed on Bittrex and other main exchanges.
4. Bringing more eyeballs to the coin.
I expect that for the first few months all buy walls will be eaten quickly by impatient investors. We may even see the race towards buy walls as I'm sure there are few shareholders waiting for months for a chance to sell their coins even at the ICO price.
And it's ok. Let them sell.
Their coins will be burned and if at any point in the future they would like to come back, they will be forced to compete with monthly buy walls to buy coins, so it's almost certain they will be buying at higher price.
Anthony claims the MINEUM team will not be selling their 51%.
I will not be selling my stack.
Some other shareholder probably will wait too.
Those who stay patient will see the price growing gradually month after month.
Now, is the Buy Back a magical tool to solve our problem? Well, it's definitely a move in the right direction, but I think we must do at least one more thing.
It's PR - if we want to be visible to other investors, we must do something about it.
But this is a topic for another discussion, maybe a good topic for the next vote.
You made good analysis of situation and I partly agree with you but at the end price derives from inner value and demand. I don't know many people in crypto world that will find current dividends attractive ( and as you noticed we are talking about crypto not stocks ) to invest in coin, also there is no significant move to make a game changer step that will enhance dividends significantly or bring additional external value. Buyback will provide very short term speculation without any real benefit to Mineum holders as the inner value of coin won't change. Bringing attention to coin at this phase will only make more people to pass on it and never return, as there is nothing besides micro dividends, that give value to this coin. Even if nobody sells - as long as nobody WANTS to buy, it won't help for my opinion.
The better question to ask is how we can raise the real value of coin, not cheap tricks like PR, buybacks or sell/buy artificial walls but real change in direction that will bring REAL value to coin/investors ( and not comparing to investing in company stocks
).
Instead playing in democracy where each person with one MNM have same vote as one who control 5-10% (for example), the team should think how to provide additional value to holders and of course to themselves (51% - not?) by consulting experienced traders/entrepreneurs if they can't do it by themselves as it looks at this point, unless they bring coin down by inactivity only to buy shares cheap and afterwards there be sudden jump in dividends/operation/ etc. that I really hope not the situation.
"Regular profits" you talk about - are not profits, but very slow returning of your own investment for many years at this phase that is not really attractive.
I am not crying about this investment and everyone need to be responsible for his own actions but although this is very small part of my crypto portfolio, I hate to see money go to waste without any fight, just by force of inertia. So please accept what I wrote at this spirit
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