Front Page Roanoke Times

[Overthetop]

But profit will only be produced by decentralized autonomous companies, so where do i3's profit seeking objectives actually meet with their theory of DACs?  And how exactly did li xiaolai and any other initial investor see that their investment would return over time?

It has been said/implied in other places, but I would like to outline our strategy for Invictus making a return for the shareholders of I3.

1) Invictus develops software at-cost and takes no profit as a company.  Ie: We will be spending 100% of AGS funds on R&D with no fee-for-service.
      a) Officers in the company receive salaries far below market value.

2) Invictus used initial VC funds to do the following:
      a) build & develop a business plan
      b) build PTS
      c) mine & buy PTS
      d) contribute funds to AGS on equal footing with everyone else.
      e) we have only received $450K of the initial $575K commitment as scheduled.

3) As a result of the initial steps the company holds free and clear (as profit) about 5% of the Feb 28th snapshot which we estimate to be worth about $2.5 million based upon PTS price prior to snapshot.  If we were to distribute everything except the AGS funds our investors would already see a profit and we haven't even released our first full DAC yet.

4) As we spend the 4+ million in AGS funds we have received we will grow the value of our 5% along with the other 95% which is owned by the community.

5) The nice thing about this strategy is that our 'profits' are all in the form of capital gains.   

The numbers and figures used in this example are mere approximations and should not be construed to represent actual numbers which only our accountant has.

The original business plan when Charles was CEO was something along the lines of:
   1) Build Keyhotee and attract a lot of eyeballs (users)
   2) Monetize these eyeballs through hardware sales (wallet, miners, add-on services)
   3) Build DACs that use our dedicated mining hardware.
   4) Run a mining pool and collect all of the fees.

As you can see we had to pivot our business plan when I eliminated mining.   You can also see that our new business model aligns our interests with those of the community much better than the old plan.   By owning shares in profit generating DACs Invictus in turn also generates profits.

Lastly we are partnering with other companies and we are earning revenue from consulting and custom development (outside of AGS).   
     

 

[muse-umum]

Thanks for your frank explanation. Judging from the great differences between the original strategy and the one implemented under your leadership, I feel so grateful that you are in charge now, abandoned the POW.

My question :
The unspent pts/btc through AGS donation can get huge amounts of bts. How will you spend these bts ? The DACs R&D or 3I investors (Bitfund.pe and Mr Li) profit ?

https://bitsharestalk.org/index.php?topic=2526

Thank you very much !

[lakerta06]

Thanks for your frank explanation. Judging from the great differences between the original strategy and the one implemented under your leadership, I feel so grateful that you are in charge now, abandoned the POW.

My question :
The unspent pts/btc through AGS donation can get huge amounts of bts. How will you spend these bts ? The DACs R&D or 3I investors (Bitfund.pe and Mr Li) profit ?

https://bitsharestalk.org/index.php?topic=2526

[muse-umum]

Thanks for your frank explanation. Judging from the great differences between the original strategy and the one implemented under your leadership, I feel so grateful that you are in charge now, abandoned the POW.

My question :
The unspent pts/btc through AGS donation can get huge amounts of bts. How will you spend these bts ? The DACs R&D or 3I investors (Bitfund.pe and Mr Li) profit ?

[bytemaster]

 The original strategy involved monetizing Keyhotee as a platform on a per user basis, activities related to the BitShares protocol, and a hardware line.

Ew, gross

Makes you feel how neat and elegant the new plan is, eh?

Bytemaster, I don't get the legal stuff, but wouldn't it have been possible for you to invest on behalf of Mr. Li in a private manner and declare I3 non-profit?

It would have been possible, except no business plan survives first contact with the market.   At the time we made an agreement with Mr. Li, the concept of AGS, PTS, had not entered the picture.   

There are many moving pieces here and we are actively trying to make sure everyone gets a better deal than we initially promised. 

[sumantso]

 The original strategy involved monetizing Keyhotee as a platform on a per user basis, activities related to the BitShares protocol, and a hardware line.

Ew, gross

Makes you feel how neat and elegant the new plan is, eh?

Bytemaster, I don't get the legal stuff, but wouldn't it have been possible for you to invest on behalf of Mr. Li in a private manner and declare I3 non-profit?

[fuzzy]

With respect to my signature that is intended to distinguish casual conversations on this forum from more serious legal documents or commitments.   If everything I write on this forum could be construed to be legally binding I would have no choice but to stop posting all together because I would have to have a lawyer look over every post.     Stan makes one mis-statement and there is a huge controversy.

Many things I post on here are personal opinions and not that of me acting in my role of corporate officer.   

This all falls into my post-contract society enabled by crypto-assets and thus should be of no surprise.   

It's cool Bytemaster, you do not need to explain this...people know where your heart is in this movement, though sometimes we question whether your actions unintentionally fall out of line with your priorities, we can be pretty certain at the very least that you have the moral highground with regard to the future you want to help create.

 The original strategy involved monetizing Keyhotee as a platform on a per user basis, activities related to the BitShares protocol, and a hardware line.

Ew, gross

Sent from my SCH-I535 using Tapatalk

Isn't it funny that Daniel wanted to give Keyhotee for FREE to EVERYONE?  These are precisely the little points that over time make an ominous big picture with regard to Charles.

Your can be sure Charles is looking over your shoulder... patiently waiting...  ...and oop, there he is again.  We may be able to start a bit-Hoskinson and take bets on when he will reappear.

Lol... well played.

[Xeldal]

Your can be sure Charles is looking over your shoulder... patiently waiting...  ...and oop, there he is again.  We may be able to start a bit-Hoskinson and take bets on when he will reappear.

[bytemaster]

With respect to my signature that is intended to distinguish casual conversations on this forum from more serious legal documents or commitments.   If everything I write on this forum could be construed to be legally binding I would have no choice but to stop posting all together because I would have to have a lawyer look over every post.     Stan makes one mis-statement and there is a huge controversy.

Many things I post on here are personal opinions and not that of me acting in my role of corporate officer.   

This all falls into my post-contract society enabled by crypto-assets and thus should be of no surprise.     

[toast]

 The original strategy involved monetizing Keyhotee as a platform on a per user basis, activities related to the BitShares protocol, and a hardware line.

Ew, gross

Sent from my SCH-I535 using Tapatalk

[fuzzy]

Charles seems to be inviting questions that investors might be interested in. I3 forum signatures make it clear now that they don't want be held accountable for anything that is said. Investments are based on opinions of a dream that may or may not be prove to be practical. The plan is subject to interpretation where it is common to criticize someone for not knowing the latest variation of the plan than to explain what the current plan is. That seems like a culture in decline. I still hold some PTS, so I'm still one of the hopeful.

Though I would agree whole-heartedly about this, it seems very telling to me that he feels there should be no reason to answer our community's questions (should they even have any).  He is plainly here to put the spotlight on Invictus AFTER he has left it behind.  Of course, when asked why he says "because I am no longer part of Invictus"...then why the hell are you here asking these questions?  Are you an investor?

We are a culture in decline. I really hope everyone can still work together and make something productive out of all this. We need to see that greed is a learned human trait, in our epigenetics, which is proven, and not human nature. Our culture and it's for profit incentives has corrupted our sensible, pro-human side. So all I ask is ask yourself if you are being the mature, rational human.

wow this sounds like we have a person trained in psychology here...Good points.  I try to remain mature but my "irrational side" says to look out for weaselly activity.  Charles obviously has one thing in mind and it is not the pro-human side of this movement.  Scares the shit out of me too...

Imagine Decentralized Autonomous Drone wars...now THAT will be profitable!

 

[Liberty]

We are a culture in decline. I really hope everyone can still work together and make something productive out of all this. We need to see that greed is a learned human trait, in our epigenetics, which is proven, and not human nature. Our culture and it's for profit incentives has corrupted our sensible, pro-human side. So all I ask is ask yourself if you are being the mature, rational human.

Selfishness is rational. A system is culturally beneficial to the extent that it denies undeserved enrichment. It is true that our culture has been corrupted, but that comes from undermining natural rights that generally ensure that profit comes through respectful service to others through mutually beneficial exchange. Our culture is in decline as laws have become predatory toward the rights and property of individuals.

The true value of what I3 is doing will become obvious to all over time. Charles seems to be inviting questions that investors might be interested in. I3 forum signatures make it clear now that they don't want be held accountable for anything that is said. Investments are based on opinions of a dream that may or may not be prove to be practical. The plan is subject to interpretation where it is common to criticize someone for not knowing the latest variation of the plan than to explain what the current plan is. That seems like a culture in decline. I still hold some PTS, so I'm still one of the hopeful.

[fuzzy]

Let us please make sure both sides answer these questions...this could be the perfect moment to inform the public so we are not so "in the dark".  I understand there is information (everywhere, scattered about...etc), but it would be nice to get a thread where these tough questions can be asked of both of you.  The entire world has a great deal at stake (not just monetarily) in the outcome of these experiments...

There are no tough questions on my end. I am no longer associated with Invictus Innovations as of October and that was a decision made by the other members of the board of directors. It is a closed matter and will not be reopened by me because it is productive to no one.

The only Invictus issues that I am subject to are those involving the foundation of the company up until I left in October. Changes to the proforma impact all investors of I3 and the management has a fiduciary duty to communicate these changes to all investors in a timely manner. I am simply asking what the relationship between I3 and BitShares is and how this relationship benefits the investors of I3. From the Texas conference:

Dan Larimer
Founder & CEO, BitShares
Daniel Larimer is a Virginia based entrepreneur and software engineer with a passion to find free market solutions to secure life, liberty, and property. He is the founder of BitShares.org and the originator of the concept of DACs (decentralized autonomous companies). He is the chief architect of the peer-to-peer, trust-less, block chain based financial system known as BitShares.

http://texasbitcoinconference.com/speakers

There seems to be a debranding of I3 into BitShares thus my interest in the query.

Of course their aren't Charles.  You are quite cool and calculating my friend...and you obviously have perfected your pitch.  How long did it take looking in the mirror or chatting with your "advisors" to get this down?

Yet it seems so odd how you only show up on our forums to post when it directly will benefit you and "Ether" huffers... 14 posts and all in only the interest of batting away fires you start? My desire to listen to you grows less and less with every post here.  Taking into consideration I have been banned from "ethereum's" subreddit for asking questions and keeping them in the minds of those who visit makes me trust you and your little group even less.  Sure you enlisted talent...I just wonder if they know who they are working for.

Now it is my turn to ask, "why the hell are you here?"  Obviously you are not here to aid our community other than to ask tough questions from which you yourself apparently are immune.  Go back to magic land...

I honestly do not care why you left Invictus anymore.  I look at you and I think "Bill Gates"...and that is not a good thing.  The only difference is that the tech we are all looking at has consequences that potentially FAR outweigh the damage centralized systems have done to the world we know today and so the wrong individuals with the wrong ego could cause a great deal of pain to genuinely good people.

P.S.  sorry to those on the forums who know me and know this is out of my character...Charles and his antics have a tendency to bring me here..."I don't need to explain myself to anyone...no tough questions needed on my end, I am flawless...Turing complete! One chain to rule them all!"...these things all wreak of something I don't want to touch with a ten-foot pole let alone my investment money.  It's a good thing you already have plenty of "advisors" in the bitcoin community to co-opt, I mean fund, this venture of yours. 

[fuzzy]

 

As you are not an Invictus shareholder the answer to this question is not relevant to you.

It is relevant to Li Xiaolai, which is why I'm asking. It also seems to be a fair question to ask considering the BitShares protocol is being developed by I3.

And you are his spouse? His legal guardian? His legal representative?

You are translating from Chinese to English for him?

If your motivations are not transparent to yourself I can recommend a therapist.

(My motivation is that I am a PTS/AGS holder and I find your participation on this forum to be counter to my interests._

i'm a PTS holder and i'd like this line of questions to continue. i was not aware that participation in other teams is undesirable.

[bretthuda33]

We are a culture in decline. I really hope everyone can still work together and make something productive out of all this. We need to see that greed is a learned human trait, in our epigenetics, which is proven, and not human nature. Our culture and it's for profit incentives has corrupted our sensible, pro-human side. So all I ask is ask yourself if you are being the mature, rational human.