Times are tough in El Libano
Maybe you can feel it too? I think there is somewhat of a world wide pinch going on, a global economic downturn if that's the way you want to see it. And on the periphery, we are definitely feeling it. Personally I tell the anecdote like this, the people that owe me money no longer answer my phone calls, but the ones I owe money to, are calling me everyday.
We had the 3 months of volcano alert, that hurt, the coffee price has collapsed from well over 2M pesos per 'carga' to 1.2M pesos per carga today, below what some say is the cost of production. Nobody has money in our small town, its just not circulating. Times are tough, and we can feel it.
I feel very lucky, I have managed my portfolio well, I have paid my bills and perhaps resisted going further into debt than I needed to. I can pay the bills, bear my responsibilities, and for the most part still 'wait it out' with a portfolio much larger than I have had at any time in previous similar periods past. We are going to make it.
But @juan.manuel, he's not doing so good.
Juan is a local land owner, a cattle rancher and a civil engineer. Above, he is standing behind me, and he was the first local person that understood our idea behind ECOBANK. He knows its real because he believes in owning land. While I'm on HIVE proving the ECOBANK idea, with people like Juan I am proving the concept of HIVE to them.
So yesterday we were talking, he has some medical needs, some family needs, some farm needs; as mentioned above those that owe him money are no where to be found, but as a land owning cattle rancher, more than just his own family depend on him. He does not have the luxury to default or delay on his obligations. He is in a tough spot.
He is trying to sell cows, trying to sell land, he recently sold his car and downgraded to a motorcycle. But no one seems to have money around these parts. That's when I reminded him of his ECOBANK tokens.
More than once previously I have bought some off of him, peer to peer. But my own financial position, while not perilous, is not in a place where I can freely dispose of cash on hand. But I said, let's see what the market can offer us.
I asked him not to list below the original $1.10 mint. Sure, the order books are destroyed, but here is the offer, several thousand ECOBANK are listed around ~$1.15. This is an opportunity of some sort, if this makes sense to anyone, have a nibble, or a bite. It definitely will go a long way for me proving to 'the locals' the value of this HIVE thing we are doing.
To be clear, I don't think this amount of ECOBANK represents what 'he needs', it looks like a rounding activity, I don't know how long they will be for sale, the need is pressing and urgent but he is also working several other avenues. He is the second largest holder in the project, and will remain by a large margin even if he manages to sell this amount.
Even I am a bit skeptical about the markets right now, but let's see what happens. Give me any and all of your feedback below - is this a great way to prove a concept - or a violation of the sacred trust in our project?
Additionally, I have an update coming about ECOBANK and our cashflow, I provided some alpha in a recent PIMP meeting, good things are coming and I will have an exciting update before the end of the month about an event we will be hosting at the lake house on August 20th. Good things are coming, things are starting to move!
The markets have an illusion of being well and I have a feeling it's more in the stock markets than actual reality. Things have gotten more expensive and I feel that a lot of people have been cutting back in the current times.
Tough going creates tough men. Keep up don't loose hope. This too shall pass...
To be honest, I am suspicious about this current situation at my place... Here in Spain, they presenting the data like everything is better than ever, tourism is on the top, people are spending like crazy, but I'm not convinced that the worst of "post-covid" has passed... It would be too fast that it did and what you are saying is confirmation that it isn't pass... It always starts from the most vulnerable and I'm expecting soon to spread on everyone...
Can't wait to here more news about ECOBANK!
I understand that times are tough for Juan and many others in your community. It sounds like he is in a difficult position and is trying to sell his ECOBANK tokens to raise money.
I think it is a good idea to let the market decide what the tokens are worth. If there are people who are willing to buy them at a price that is fair to both Juan and the buyers, then that is a good thing. It would also help to prove the concept of ECOBANK and show that it can be used as a way to store and transfer value.
However, I also understand your concern about violating the sacred trust in the project. It is important to be transparent about what is happening and to make sure that everyone is treated fairly.
I think the best way to do this is to have a clear and public explanation of why Juan is selling his tokens and what he plans to do with the money. This will help to reassure people that the project is still sound and that Juan is not trying to take advantage of anyone.
Let's create a poem to cheer y'all up shall we fellas...
There once was a man named Juan,
who worried about money 'til dawn.
The new day came,
and things were the same.
But the ineffectual worry was gone.