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Quote from: Stan on March 10, 2014, 05:02:41 pmQuote from: G1ng3rBr34dM4n on March 10, 2014, 04:52:07 pmQuote from: barwizi on March 10, 2014, 04:44:22 pmQuote from: bytemaster on March 10, 2014, 04:26:48 pmQuote from: luckybit on March 10, 2014, 12:47:34 pmQuote from: bytemaster on March 09, 2014, 01:04:12 amFloyd entrepreneur cashes in on virtual currency crazehttp://www.roanoke.com/After tomorrow:http://www.roanoke.com/news/local/blacksburg/floyd-co-entrepreneur-cashes-in-on-virtual-currency-craze/article_d07256fc-a66f-11e3-b845-0017a43b2370.htmlOne thing I notice as a fellow geek, that is a bad ass multi-monitor setup. I am jealous.Does it boost productivity as much as I think it does?Yes it does. FYI the two monitors were purchased a year prior to starting Invictus and the iMac was purchased long prior to even PTS launching... just in case anyone thought I was using AGS funds to buy computer bling. if it's a dev pc then i wouldn't mind ...gotta have the right tools!Not to mention the 10,000 ft runway we had to put in so that Federal Express could airlift the pallets of 12oz pressurized liquid caffeine cartridges needed to keep those monitors fully utilized 24x7...I told you to just buy the factory and be done with it!but seriously, i think that more costs of development should be from the fund. Even Stan deserves a high chair.
Quote from: G1ng3rBr34dM4n on March 10, 2014, 04:52:07 pmQuote from: barwizi on March 10, 2014, 04:44:22 pmQuote from: bytemaster on March 10, 2014, 04:26:48 pmQuote from: luckybit on March 10, 2014, 12:47:34 pmQuote from: bytemaster on March 09, 2014, 01:04:12 amFloyd entrepreneur cashes in on virtual currency crazehttp://www.roanoke.com/After tomorrow:http://www.roanoke.com/news/local/blacksburg/floyd-co-entrepreneur-cashes-in-on-virtual-currency-craze/article_d07256fc-a66f-11e3-b845-0017a43b2370.htmlOne thing I notice as a fellow geek, that is a bad ass multi-monitor setup. I am jealous.Does it boost productivity as much as I think it does?Yes it does. FYI the two monitors were purchased a year prior to starting Invictus and the iMac was purchased long prior to even PTS launching... just in case anyone thought I was using AGS funds to buy computer bling. if it's a dev pc then i wouldn't mind ...gotta have the right tools!Not to mention the 10,000 ft runway we had to put in so that Federal Express could airlift the pallets of 12oz pressurized liquid caffeine cartridges needed to keep those monitors fully utilized 24x7...
Quote from: barwizi on March 10, 2014, 04:44:22 pmQuote from: bytemaster on March 10, 2014, 04:26:48 pmQuote from: luckybit on March 10, 2014, 12:47:34 pmQuote from: bytemaster on March 09, 2014, 01:04:12 amFloyd entrepreneur cashes in on virtual currency crazehttp://www.roanoke.com/After tomorrow:http://www.roanoke.com/news/local/blacksburg/floyd-co-entrepreneur-cashes-in-on-virtual-currency-craze/article_d07256fc-a66f-11e3-b845-0017a43b2370.htmlOne thing I notice as a fellow geek, that is a bad ass multi-monitor setup. I am jealous.Does it boost productivity as much as I think it does?Yes it does. FYI the two monitors were purchased a year prior to starting Invictus and the iMac was purchased long prior to even PTS launching... just in case anyone thought I was using AGS funds to buy computer bling. if it's a dev pc then i wouldn't mind ...gotta have the right tools!
Quote from: bytemaster on March 10, 2014, 04:26:48 pmQuote from: luckybit on March 10, 2014, 12:47:34 pmQuote from: bytemaster on March 09, 2014, 01:04:12 amFloyd entrepreneur cashes in on virtual currency crazehttp://www.roanoke.com/After tomorrow:http://www.roanoke.com/news/local/blacksburg/floyd-co-entrepreneur-cashes-in-on-virtual-currency-craze/article_d07256fc-a66f-11e3-b845-0017a43b2370.htmlOne thing I notice as a fellow geek, that is a bad ass multi-monitor setup. I am jealous.Does it boost productivity as much as I think it does?Yes it does. FYI the two monitors were purchased a year prior to starting Invictus and the iMac was purchased long prior to even PTS launching... just in case anyone thought I was using AGS funds to buy computer bling. if it's a dev pc then i wouldn't mind
Quote from: luckybit on March 10, 2014, 12:47:34 pmQuote from: bytemaster on March 09, 2014, 01:04:12 amFloyd entrepreneur cashes in on virtual currency crazehttp://www.roanoke.com/After tomorrow:http://www.roanoke.com/news/local/blacksburg/floyd-co-entrepreneur-cashes-in-on-virtual-currency-craze/article_d07256fc-a66f-11e3-b845-0017a43b2370.htmlOne thing I notice as a fellow geek, that is a bad ass multi-monitor setup. I am jealous.Does it boost productivity as much as I think it does?Yes it does. FYI the two monitors were purchased a year prior to starting Invictus and the iMac was purchased long prior to even PTS launching... just in case anyone thought I was using AGS funds to buy computer bling.
Quote from: bytemaster on March 09, 2014, 01:04:12 amFloyd entrepreneur cashes in on virtual currency crazehttp://www.roanoke.com/After tomorrow:http://www.roanoke.com/news/local/blacksburg/floyd-co-entrepreneur-cashes-in-on-virtual-currency-craze/article_d07256fc-a66f-11e3-b845-0017a43b2370.htmlOne thing I notice as a fellow geek, that is a bad ass multi-monitor setup. I am jealous.Does it boost productivity as much as I think it does?
Floyd entrepreneur cashes in on virtual currency crazehttp://www.roanoke.com/After tomorrow:http://www.roanoke.com/news/local/blacksburg/floyd-co-entrepreneur-cashes-in-on-virtual-currency-craze/article_d07256fc-a66f-11e3-b845-0017a43b2370.html
Quote from: luckybit on March 10, 2014, 02:52:09 pmQuote from: heyD on March 10, 2014, 08:10:45 amThanks 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 ?This is a good question.Any gains from AGS donations ("eggs" from the PTS "golden geese") are also reserved to grow the industry, not for Invictus. Thus, there are now PTS-generated XTS "eggs" in the development fund that can be used to pay for more development and promotions. Invictus has promised not to directly profit from these geese or the eggs they lay. If we can grow the value and number of the golden eggs in this basket faster than we spend them, then the industry will have a perpetual flywheel to keep it going and growing. Another reason to weigh when and how to responsibly use these assets.Meanwhile, Invictus owns its own supply of PTS and AGS "geese" (earned by mining, purchasing and donating our own funds) and XTS "eggs" which will grow the same way for our investors as we work to grow their value for everybody.Thus, when somebody says III "doesn't care" about about the value of any of these products, it should be clear that they have no understanding of how we are structured or how we have worked to keep our own incentives aligned with those of the rest of the community.
Quote from: heyD on March 10, 2014, 08:10:45 amThanks 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 ?This is a good question.
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 ?
Quote from: bretthuda33 on March 09, 2014, 11:06:14 pmWe 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.
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.
Quote from: bitbro on March 09, 2014, 04:23:43 pmBut 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).
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?
Quote from: heyD on March 10, 2014, 08:10:45 amThanks 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
Quote from: toast on March 10, 2014, 12:36:06 amQuote from: charleshoskinson on March 09, 2014, 04:30:15 pm 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, grossMakes 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?
Quote from: charleshoskinson on March 09, 2014, 04:30:15 pm 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
The original strategy involved monetizing Keyhotee as a platform on a per user basis, activities related to the BitShares protocol, and a hardware line.
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.
Quote from: charleshoskinson on March 09, 2014, 04:30:15 pm 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, grossSent from my SCH-I535 using Tapatalk
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.
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.
QuoteLet 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:QuoteDan LarimerFounder & CEO, BitSharesDaniel 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/speakersThere seems to be a debranding of I3 into BitShares thus my interest in the query.
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...
Dan LarimerFounder & CEO, BitSharesDaniel 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.
Quote from: onceuponatime on March 09, 2014, 09:08:49 pmQuote from: charleshoskinson on March 09, 2014, 09:01:43 pmQuoteAs 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.
Quote from: charleshoskinson on March 09, 2014, 09:01:43 pmQuoteAs 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._
QuoteAs 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.
As you are not an Invictus shareholder the answer to this question is not relevant to you.
Quotei know about this initial funding since october ... it wasn't communicated public but for people who wanted to contribute time/work to III at this time.The initial funding was never hidden and has been known since the coindesk article Danny wrote in August I believe.
i know about this initial funding since october ... it wasn't communicated public but for people who wanted to contribute time/work to III at this time.
Cool. Didn't know you got $500k funding in the beginning. What did they get in return?
QuoteCharles,why do you continue coming on to bitsharestalk.org to make your comments and ask your questions? I believe Ethereum has its own sites? You seem to have trouble letting go.Actually I keep getting drawn back in by other people or events. I would like an answer to my question, which has nothing to do with Ethereum or its affiliates.
Charles,why do you continue coming on to bitsharestalk.org to make your comments and ask your questions? I believe Ethereum has its own sites? You seem to have trouble letting go.
QuoteFor anyone interested, you can always look up business filings through the Secretary of State's office in the state in which the business is registered.https://sccefile.scc.virginia.gov/Business/0766644 I'm well aware of what they say because Stan and I filed them. My final question is what is the relationship between BitShares and Invictus Innovations and what profit expectations do the investors of Invictus Innovations have from the BitShares involvement?
For anyone interested, you can always look up business filings through the Secretary of State's office in the state in which the business is registered.https://sccefile.scc.virginia.gov/Business/0766644
Is Invictus Innovations a for profit entity or a not for profit?
Invictus Innovations has four primary revenue streams:1. Monetization of user base through partnerships with service providers2. Monetization of user base through hardware sales3. Monetization of user base through app-store sales4. Monetization of a cryptocurrency portfolio derived from various new blockchains
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.
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?Sent from my iPhone using Tapatalk
What does it mean to own 25% of Invictus seeing as it's a non profit? We're funds invested in PTS or AGS?Sent from my iPhone using Tapatalk