Well, it appears that the company is pivoting. I'm holding all my PTS and telling my friends to buy.
Now that I've slept on it. I think Protoshare holders should get what was promised in the social contract, which is 10%. Angel shares can then get the other 90%. The new investment will benefit Protoshare holders greatly because the money for Angel shares will fuel development and growth. We'd also be more competitive with Mastercoin and Ripple.
Completely agree - We need to raise capital to speed up operations
Thanks. I don't think people understand that Invictus has strong competition. They risk being left in the dust. Angel Shares will provide value to Protoshares because it will be the vehicle that accelerates development.
As far as I can see, though, it may be most important to be first to the DAB/P2P DAC -- I wonder if bytemaster has any ideas for getting to market faster, in that regard. Raising capital for the DAC's to follow would be easy if BitShare were released today.
Doing it right is more important than doing it fast. There is strong competition but there really is only Mastercoin and Coloredcoin. The marketcaps are so huge that there is plenty of marketshare for all three so I don't see what the rush is about.
6 months from now there will be another wave and Bitcoins will be going for $10,000-20,000 each. The crowd funding rules will also be more clear and we will know what role regulation will have.
Right now we don't even know what the regulatory environment will be. The DACs should be developed for sure and angel investment should occur. There is plenty of space to reserve in the DACs for angel investors without disrupting the Protoshares 10%. So I don't see the issue.
If you have more, become an angel investor. Why do we need angelshares?
I have several BTC that I was thinking of investing. I could buy PTS but that wouldn't actually help develop any DACs so it would be more like placing a bet on whether or not Invictus can pull it off with their current funds. If they run out of money PTS is worthless. Unless they manage to raise some capital I will have to sell the couple of PTS I have mined. Looks like PTS is screwed because the socialists will dump if they attempt to raise capital and capitalists will dump if they can't.
Is it possible for me to buy shares of Invictus? How do they profit? I understand the value proposition of the DACs, but I don't see how Invictus can profit from this whole effort. Why would I as an angel investor buy Invictus stock? The point is mute because only qualified investors can buy Invictus stock.
The insane thing is I read somewhere that they had to buy the PTS they have because the mining competition was so fierce. So it appears PTS has sucked capital out of Invictus. They had to buy PTS or else how could they possibly profit?
From where I sit, it looks like bytemaster attempted to play by the socially accepted norms and the result is very predictable. Socialists will clamor against capitalists and toss about accusations of envy and greed. Any attempt to accumulate capital to build a free society is poo-pooed. God help us all!
If they don't fix the capta problem I am gonna have to stop posting!
I want to be an angel investor too but you have to look at the entire economic ecosystem. Changing the social contract disrupts the delicate Nash equillibrium and it's proven by the dumping and price drop.
The reason this is happening is the people who got involved decided on their profit strategy early on and these changes require them to make changes to their profit strategy.
So for instance if someone was selling Protoshare mining rigs that they build to order then the fact that future DACs will not be mined just put them and every business like theirs out of business. They were promoting Protoshares and even built a business around it and this change would put them out of business. Then you have people who bought the rigs already who would lose money as well because now their ROI isn't guaranteed and finally you have removed mining which removes an entire strategic sector from the economy and haven't replaced it with another sector which makes sense.
Yes being an angel investor is nice and all but where is the money supposed to come from if you lose your job making mining rigs or if you're not paid to work for the CPU maker, the utility or solar panel company, or even Digital Ocean and Amazon? We assume that employees are companies such as these do not know about Protoshares and do not own them? What if they do?
So we should not say mining is a waste. It might not be the most efficient way of doing things but you still have to recognize that if these changes are made there could be losers and those losers aren't going to be happy that their profit strategy was removed.
This is why I said the contests, giveaways and other mechanisms should be in place. You cannot just take away the mining sector and then ask for investment. Where is the investment money supposed to be coming from? Of course if you provide jobs, or if they do bounties for Mastercoin then it might come from there but then you have to stop looking at Mastercoin as a competitor and instead look at it as a contributor to the ecosystem and those millions can circulate into Protoshares with the right marketing.
Finally we have to accept the fact that most people have day jobs. A lot of people here work for the utility company, or make and sell solar panels, or build computers. Not everyone is a programmer and when you remove an entire mining industry you actually end up with the result of people being laid off from their real jobs or perhaps they just lose a great deal of revenue.
Solar panels have to be sold because it's a critical strategic component. Electricity is not a big deal because when it is expensive it encourages people to upgrade to renewable energy like solar. Those upgrades create jobs for people like us who can then invest in stuff like Protoshares, Bitshares or whatever. So unless we are all going to be programmers we have to try to invite the wider economy into the community and to do that we have to be buying stuff from them whether it be computer parts, solar panels, products, services or whatever but at the same time we need investment to develop the DACs which represent the future.
If we look at the situation with ASICs the problem is that the power is too concentrated into the hands of mining pools and it's centralized. So I understand the dangers of PoW and I don't think it is a long term solution. But I don't blame the small miners for that.