I want to ask if the team will also be burning their own ICN tokens, because if they keep buying and buying tokens on the exchange this is going to lead to centralization of the tokens on the hands of developers leaving investors nothing to actually hold on to, what they promised was dividends before the ICO and now change of tone that they wont be paying dividends again
It's a buy and burn. Overall supply is reduced.
He means that, overall, the 13 million they hold will become a larger percentage of the total supply. For example, 13 million out of 70 million is worth more than 13 million out of 100 million.
The question is whether they'll burn their own tokens. The answer would be... they won't just burn them for no reason. The rule is that they get burned after being bought back by Iconomi.
So they would burn the tokens that they, themselves, buy back (from the profits). If they're selling tokens, some of those tokens could also end up in the hands of other buyers - depending whose buy order they fall into.
So in theory, yes it could become more centralised if they never sold a single token. But if you look at it that way, 13 million is already a massive piece of the pie anyway. Each individual team member will use their part of the 13 million as they please. And, as Daparski pointed out, they don't get the whole 13 million all at once.
You are free to never sell your own too, so any X ICN they hold won't be worth any more than any X amount you hold. If that makes sense. In that sense, it's fair, as it's up to you what you do with your ICN, and it's up to them what they do with theirs.
There's nothing wrong with the way this is set up, but you do have to trust that it won't somehow be used to their advantage when they want to sell some of their own ICN - since they effectively hold all the cards. They'd be like whales on the market, with the power to maximise their own return.
There's still a lot that needs to be explained surrounding all of this. E.g. whether or not ICN still represents ownership will have an effect on how much they are likely to sell off.
Perhaps an AMA is the best method for clearing up some of these finer points. But I'm sure my old pals MoveCrypto or Daparski will have some wisdom to impart
