231
« on: October 22, 2014, 07:03:35 pm »
Folks, lets be honest here. Of all the people that bought DNS on an exchange, how many of you were waiting for the coinmarketcap listing so you can flip it and make a buck?
To the guy who bought DNS at 400 satoshi - you panic bought on no news after seeing a massive price rise, and your fear of missing out greedily caused you to make a poor decision. Sucks for you, don't do that again. Its a lesson every investor will eventually learn, whether the easy way, or the hard way (myself included).
To the guy who said he wouldn't sell DNS until it was worth more than Namecoin.......how long were you planning on waiting? As of now, DNS is a rebranded BitShares fork with no other features beyond an IOU future implementation of good ideas. There is no product.
And Toast, I know you're pissed, but why the hell did you rush to release a product with no features? Why were you in a such a hurry to make your ideas tradable to the point where you're doing midnight emergency builds by yourself?
Placing value on ideas is a risky business. You can make a lot of money, and you can also get badly burned. If you're crying, you invested money you can't afford to lose. Investor life lesson number 2.
What was the estimated market cap of DNS before the crash, 4 million? For a BitShares fork with a new splash screen? Does that sound like a proper valuation for a company with a cloned tradable token and no features, run by a recent college grad with limited life experience and real world business knowledge, on a project that is devoid of critical manpower and infrastructure? If you ask me, bytemasters proposal is more than fair, to the point its sane. Ideas don't realize themselves, they requires competent handlers to execute.
Disclaimer: I own a substantial amount of DNS through AGS. I also own BTSX, PTS, and eventually NOTES.