So they just launched their first regulated fund with the second one close behind it. In the next 10 days they will announce the biggest burning of tokens in the history of ICN with the combined burned tokens amount probably exceeding 1% of the total supply.
They are on the verge of accepting fiat payments and scaling things to the next level. They are implementing ICN fees for DAA creation in a month, ICN fees for DAA rebalancing (both of these fees meaning more burnt tokens in the future).
And you would kill the company now when the work of the past year and a half is comming to fruition? If that isn't shortsighted then I don't know what is
And I haven't even mentioned the huge unrealized profits from their ICO investments... Even in this crappy market when prices are down I would bet that the 20% of profits would result in $10M+ in profits for buybacks with that number growing heavily in the next bull run.
So why would any reasonable investor cash out now and earn maybe another 50% profit when a few months from now you will probably have 500%+ profit?
Is it possible? No idea, but I would vote against that because they are actually progressing nicely although at a slower pace that I had hoped for.
As for the price being what it is, that is market determined. It will grow as they start marketing more heavily and give ICN more utility or if it stays low, they will just burn more ICN tokens which will ensure a bigger growth down the line.
They haven't changed anything but dividends to buybacks.
The 24 month moratorium hasn't passed yet so there was no vote yet...
They stated in a previous AMA that ICN token holders would be entitled to the money from all the Iconomi owned assets if it would come to a stop.
EDIT: Am I unhappy with their speed of development and ICN utility? For sure, but I still think that they are building up the foundations to make ICN holders very rich in the future and I am willing to wait.
If this is true, I'd like to propose a token holder vote to dissolve the company, and return all the assets that the company holds to the ICN tokenholders, before the team goes about enriching themselves from the company coffers. Do you think this would be possible? There's a reason ICN is trading below the liquidation value of assets held by this company.
Sure, the price is market determined, but it they are trading under book value, and the ICN holders own the company and its assets according to their fundraising documents, then it's an easy win for the ICN tokenholders. You're getting a dollar for 30 cents, why would you say no? If you think the team can deliver still, then they are free to do another ICO with modified terms, and perhaps keep their promises the next time to that set of investors.
Maybe it is time for some elementary finance lessons. Can you find me one company in the S&P500 that trades below liquidation value? I'll wait.
There's a reason why this doesn't happen. The future promise for returns means nothing. There are equivalent opportunities in any market. If you put in $1 and can get even $1.01 out immediately, that's a win because the opportunity cost of the $1 is the rest of the market.
In this case, for example, ETH would be a natural alternative. Now tell me again how much ICN has historically outperformed ETH, and how it will continue to do so?
In the end, my example to liquidate was hypothetical - obviously, there is no ICN voting mechanism. They just made a bunch of promises in the whitepaper to raise as much money as possible, and then never followed through on most promises. What makes you think the near future would be any different?
If the company literally created a trust with all the ICO money and did absolutely nothing, you'd probably see the price of ICN to be 900% more than it is today. What does that tell you?
