That proves ownership of ICN. Not ownership of Iconomi. That's my whole point.
What proof of ownership would you like to see? Do you require a piece of paper written by a legal institution or what?
What proves ownership of AAPL by Apple?
Crypto doesn't work like that, at least yet and I'm sure you know that.
Or am I wrong? What crypto token has that?
As I already said, soon we'll have services like Aragon that will act as companies register and will provide all the features we are used to and even more.
The token and the platform aren't the same thing, and there's nothing linking them together - other than the buybacks.
Sure these aren't the same thing. ICN is stock - platform is product or asset that contributes towards its value.
But you are wrong that there is no link.
- ICO was conducted on Iconomi platform. Many ICOs at that time (many are still this way) were done on the platform - it gives a number of advantages
- the platform received seed money and distributed ICN to investors to represent their share in the project - Iconomi team is in control of this money and you control your shares. Yes, these shares don't pay dividends - it's very common in the markets to do buybacks, but it doesn't make these shares less valuable. In fact it is often other way around.
- you can use Etherscan (or any other Eth chain explorer) to view this information
- Iconomi communication channels explicitly state that ICN is the token representing Iconomi stock. Yes, ICN is non-voting stock yet, like any other ERC20 token in practice - but this doesn't reduce its value much (compare GOOGL and GOOG price)
what else you require?
But anybody can buy them, or create support levels. This doesn't demonstrate that your ICN token is linked to Iconomi's assets or profits, or why Iconomi's success should increase the value of ICN. The market doesn't care who is providing support levels. This works different with regular shares. With ICN, it's just a case of "here's your token. This represents Iconomi" and we just have to believe that based on... what?
First of all, this works the same way with "regular" shares.
Of course anybody can buy - it's publicly traded. Iconomi uses its profits to buyback its shares - what isn't clear about that?
But market cares who is providing support levels - "buy and burn" is different to "buy and sell later" - don't pretend you don't get it.
With ICN, it's just a case of "here's your token. This represents Iconomi" and we just have to believe that based on... what?
If in a banana republic a Banana Corp. offered you BNNA - what would make you believe it's legit? - the answer is trust. You choose who to trust for yourself.
And you don't have to believe, if you don't - just stay away from this stock or you can take the risk. High yield means high risk and often
vv. and Iconomi has a pretty decent risk-reward ratio in my opinion, far better than many crypto projects out there.
This is probably why Iconomi are trying to create a new use for the token. Why would they bother inventing a new use for it otherwise?
This isn't why. New use is being invented to bring more value.
Anyway, unless Iconomi can solve this, I predict this outcome: ICN will become a token used to complete actions on the platform. And that will be its only value.
I predicted that dividends would be scrapped, by the way. So if I'm right about this, I expect you all to kiss my sweaty feet
This prediction is worth nothing after Jani confirmed that
And again the concept of value - it will bring additional value, but in no way it will be it's "only value".
With statements like that you sound like a troll - a well disguised one but still.
Overall, I think I've answered all your questions.
Should you wish to continue discussion please attempt to answer at least one of mine and please don't make unjustified statements that you aren't able to prove or support.
