The SPI price is heading down due to the rise of HIVE especially in relation to offchain assets.
SPI has a lot off chain. So when the price of Hive is depressed, those assets are worth more when priced in hive.
With a near 4x run from the bottom, a lot of what SPI is holding off chain is now worth less in Hive (even though it is more in USD).
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SPI is one token which I haven't been able to buy yet.
I bought BRO too recently but not able to buy SPI due to lack of liquidity ..
It pays in SPI itself ( so no need to convert hive to SPI every week ) so I want to get in before its price reaches something which I cannot afford.
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That seems interesting. According to what I see SPI is at max print, so this means they have no choice but to buy it off the market.
!WINE
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Congratulations, @jfang003 You Successfully Shared 0.100 WINE With @amr008.
You Earned 0.100 WINE As Curation Reward.
You Utilized 1/1 Successful Calls.
Total Purchase : 24375.125 WINE & Last Price : 0.290 HIVE
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WINE Current Market Price : 0.280 HIVE
I think at that point they will stop paying in SPI and shift it back to Hive . They were initially paying in Hive itself but then they shifted to SPI ( I don't know why ) .
But they do have a buyback program , you want to sell all of them at one point ? They will buy it back at the weekly average price of SPI .
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No according to HE, it is already at max token issued. So I was just commenting that they must be buying SPI off the market to pay the dividends. I do agree that if SPI price goes too high, they can just change to HIVE payouts.
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Oh okay I didn't realize that at all . I knew they had hardcapped SPI long ago but I never realized they are buying SPI to pay dividends ( or maybe they have a lot of SPI already in their account ) and giving them out.
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They arent. SPInvest bought those tokens off someone and is now using them as dividends while putting the weekly earnings to work.
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Oh okay got it , @silverstackeruk actually told me about the guy who sold all of his SPI for ETH but I didn't know that was the reason they started paying in SPI again .
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SPInvest has SPI tokens on hand that it is distributing each week in dividends. This was done to replenish the tether money that was used to acquire the tokens back.
But the max number was distributed, no new one are being created.
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Thanks for the clarification. I was actually wondering what happened since the max was created. Combined with what you told amr008, I understand what is happening now.
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Oh that makes a lot of sense. Maybe I have a chance of getting in soon as the price drops. I think HIVE still has a way to go so I am wondering where the bottom is. I think its foolish but I like the current prices so I may decide to grab some soon.
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