The first buyback is only around 85K ICN's...spread over 90 days.... so they go to buy back around 1000 ICN a day.... that's nothing...That will not effect the market price... For me the decision to go the buyback way is 100% against what I expected and what was promised with ICO. We are owner of the platform, and Iconomi decides to change the basics. That's not fair in my opinion. I want ETH as Dividends... my % of Iconomi would be the same...but I would earn ETH, which in few years is 1000 times more worth than ICN.
The issue with dividends is that tax authorities tax dividend companies in a different way, when you mention dividends it only brings problems. Also this blocks many doors for example the US exchanges because of SEC shit.
Also for the holders is better not to be paid dividends because when you declare your taxes and you if you receive dividends you get a higher tax.
I think moving away from the dividends thing only brings good things to ICONOMI, first the US market, second less troubles with taxation for both the ICONOMI company and for the holders.
See you in Polo soon :-)
Everybody with a bit of knowledge of taxes was aware of that. I knew when I entered the ICO that Dividens are taxable. I have no problems to pay tax on my dividends as I would do with normal stocks. Come on guys... it's logic that Dividends are seen as Income and therefore taxable. And Iconomi knew that for sure... for me this is getting a bit strange. issuing an ICO with promises, that they knew they cannot handle it... and if they didn't know it....the team sucks! Sorry to say...this is not fud...I'm just disappointed.