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Offline rizq

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$300+ for a Keyhotee Founder ID?
« on: November 30, 2013, 06:42:02 PM »

I understood the minimum of 10 PTS a couple of days ago, but the price of 1 PTS has tripled just today. 10 PTS is an arm and a leg.

how is it fair, that 1 person donated $10 worth and the other has to donate $300.

I suggest that if you don't want to put people of from donating at all, you keep track of the real price of PTS and adjust it accordingly. Because something is better than nothing

And FYI the real price is $$$'s, what people receive for working 9 to 5 shifts. Not a crypto-currency that fluctuates on a daily basis.

Until this issue is resolved, i am not willing to spend $300+ on 1 Keyhotee ID.

Offline markzookerburg

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Re: $300+ for a Keyhotee Founder ID?
« Reply #1 on: November 30, 2013, 06:49:41 PM »
This thread makes me drop hard with laughter.
No offence but if you can't afford something don't go around blaming others - try and earn more from your "9 to 5" jobs or choose not to buy it.
Its a good thing that PTS rates are going up - especially for initial investors who toiled for this. I'd be glad if PTS rates go upto 1000 or 10,000 for that matter :)

Offline rizq

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Re: $300+ for a Keyhotee Founder ID?
« Reply #2 on: November 30, 2013, 07:18:26 PM »
This thread makes me drop hard with laughter.
No offence but if you can't afford something don't go around blaming others - try and earn more from your "9 to 5" jobs or choose not to buy it.
Its a good thing that PTS rates are going up - especially for initial investors who toiled for this. I'd be glad if PTS rates go upto 1000 or 10,000 for that matter :)

Yeah offcourse let PTS go up, that's a good thing. But if it goes up to a $100 dollars which is very possible in coming week. Lets see if people are willing to part with $1000, to be part of the "Founders club". No one will even think of donating. So you tell me if that's a good thing for the developers or a bad thing.

Secondly there is a difference between being able to afford something, and not willing to pay over the odds.

"initial investors who toiled for this" Are you serious. How did someone that bought 10 PTS from bter for 0.1 Yesterday toil for this anymore than the one that faces the prospect of paying 0.5 BTC for it tomorrow.

You don't get the point, I am not blaming anyone. I am just suggesting a set price for the Keyhotee Founder ID.

Finally if its a so called donation, than no donation is too small. Many people are willing to donate in exchange for a bit of recognition, this approach is turning them away.

Offline markzookerburg

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Re: $300+ for a Keyhotee Founder ID?
« Reply #3 on: November 30, 2013, 07:31:47 PM »
What you said ..now -makes better sense :)
Yes 1000 dollars would be too much for a founder id..but hey its a "founder id" of something revolutionary -you don't get to be a founder without paying the price. As for those who "brought in"  - they did take financial risks when the coin wasn't worth what it is now so I don't see why you'd worry over it.

I think they should have a bid system until 25th december in place so users can choose their own OG names for x amount
P.s - Hope it touches 100 usd next week :)

Offline rizq

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Re: $300+ for a Keyhotee Founder ID?
« Reply #4 on: November 30, 2013, 08:35:28 PM »
Good thing i got my point across, am much happier now :D

Now since we are both newbies, lets see what the veterans got to say about this.


Offline phoenix

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Re: $300+ for a Keyhotee Founder ID?
« Reply #5 on: November 30, 2013, 09:01:29 PM »
From a miner's perspective, the amount I donated to get my Keyhotee ID was a fixed amount of PTS. Even though the price of PTS has gone up since then, it really doesn't matter to much since the amount of reputation points that I'll be getting for my donation is based on the USD price of my donation when Invictus Innovations finalizes the Keyhotee Genesis Block. So yes, you do have to spend more USD to buy the PTS for a Keyhotee ID, but you'll be getting more reputation points on your founders ID. Also, if you really don't care about the founders ID (which you should care about), then you can just wait to mine out your ID when the blockchain goes live.
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Offline ruletheworld

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Re: $300+ for a Keyhotee Founder ID?
« Reply #6 on: November 30, 2013, 09:45:00 PM »
It's a fair point, IMO. I remember when the price was slashed from 100 PTS to 10 PTS but the people who paid 100 PTS would have a higher 'reputation' in that they are more invested in their name. If the price of PTS keeps going up from here, perhaps there can be another drop in the price of the founder member badge. However, that might strike as being unfair by the people who've already paid 10 PTS for it. It would be a tough proposition for Invictus.
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Offline JustHayden

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Re: $300+ for a Keyhotee Founder ID?
« Reply #7 on: December 01, 2013, 06:26:33 PM »
I'm mining as much PTS as I can until December 20th, and if I don't have the 10 PTS I'll buy the difference. Seems fair to me.
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Offline bitcool

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Re: $300+ for a Keyhotee Founder ID?
« Reply #8 on: December 01, 2013, 07:15:14 PM »
Depends on what the goal of this founder ID is.

If the goal is to maximize income for Invictus, commercial tactics should be used, i.e. start with sky high price tag, gradually lowering it, with periodic "promotions", until whoever wants to buy one can afford one.

If the goal is to use it denoting prestige and reputation, no more than 1%~5% of the users should be able to afford it, regardless what fiat price PTS has.


Offline bytemaster

Re: $300+ for a Keyhotee Founder ID?
« Reply #9 on: December 01, 2013, 07:30:57 PM »
The goal is to maximize profits and that means maximizing margins.  Too cheap and the ID is meaningless.  To expensive and no one buys.   Anyone who mines for one month can buy one at 10 PTs


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Offline rizq

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Re: $300+ for a Keyhotee Founder ID?
« Reply #10 on: December 01, 2013, 08:07:48 PM »
The goal is to maximize profits and that means maximizing margins.  Too cheap and the ID is meaningless.  To expensive and no one buys.   Anyone who mines for one month can buy one at 10 PTs


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Exactly, and i think we are on our way to "To expensive and no one buys"

Offline bytemaster

Re: $300+ for a Keyhotee Founder ID?
« Reply #11 on: December 01, 2013, 08:09:18 PM »
One month of mining for one pc is not expensive. 


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Offline Riverhead

Re: $300+ for a Keyhotee Founder ID?
« Reply #12 on: December 01, 2013, 08:21:23 PM »
Simply put those that donated earlier can no longer sell the donated 10 PTS for $300 so it has effectively cost them $300 as well or more because the selling option is gone where as those that haven't donated can still opt to or not.

Considering the Founder ID is a reward for a donation I have no problem with most people not being able to buy one before the cast is poured.  As was mentioned earlier by Bytemaster or Stan 99.9% of all ID's will be available from day one so it's not like if you don't donate 10 PTS you're going to be stuck with a name like J0hnBob45.
« Last Edit: December 01, 2013, 08:23:51 PM by Riverhead »

Offline fuzzy

Re: $300+ for a Keyhotee Founder ID?
« Reply #13 on: December 02, 2013, 09:45:10 AM »
Simply put those that donated earlier can no longer sell the donated 10 PTS for $300 so it has effectively cost them $300 as well or more because the selling option is gone where as those that haven't donated can still opt to or not.

Considering the Founder ID is a reward for a donation I have no problem with most people not being able to buy one before the cast is poured.  As was mentioned earlier by Bytemaster or Stan 99.9% of all ID's will be available from day one so it's not like if you don't donate 10 PTS you're going to be stuck with a name like J0hnBob45.

I agree.  Been here since the 3rd day I believe and watched the price go up.  The first time it was increased was because of such a huge response from the MINING input side of the equation.  As I see it, it should get Progressively More Difficult as we move forward.  I mean these are basically Genesis Members in the block chain...these are individuals who were in on it on the ground floor when they were not certain how this would go.  They believed in it and proving one believes in something requires they sacrifice something else of meaning.  Just my two cents.
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Offline praxeologist

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Re: $300+ for a Keyhotee Founder ID?
« Reply #14 on: December 02, 2013, 10:02:29 PM »
Quote
Anyone who mines for one month can buy one at 10 PTs

I don't think I will make it. I have an i3 and am projecting to get about 2 PTS in the next 20 days, could be 3 if I am lucky. Maybe anyone who has more computing power than me...

 

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