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Messages - coyote47

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General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 08:28:03 pm »
Quote from: bytemaster on December 15, 2013, 08:15:41 pm
It is clear to us that we cannot change ProtoShares even though we believe it would have been a better deal for everyone but the botnets.   

Based upon the feedback you all have provided at our request we will leave ProtoShares and its social contract as-is. 

In the mean time we are still looking for ways to crowd fund development of new DACs through a concept similar to Angel Shares.   

We welcome any constructive suggestions.

Great news bytemaster! No one thinks this is an easy nut to crack. I want to be a part of your future projects despite holding very few PTS compared to most of the monsters on these boards. It's probably useful to focus on one DAC at a time rather than all future DACs.

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General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 08:18:15 pm »
Many are waiting, many are selling. Price on bter now below .02BTC down from .025BTC last night. 20% drop in value since I started reading this thread.

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General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 07:56:30 pm »
Demand for protoshares exploded because in the future we believed they would split into a portion of total bitshares and possibly other coins and shares.  We bought into the concept that miners could power future DACs and be paid back for their efforts in shares.

You are taking miners out of the equation which makes your company the same as any other company.

Plenty of companies want our money and our support.

I get the idea you don't want to sell your protoshares to fund development of new DACs. The details on how DAC were funded were never really fleshed out. Why don't you auction off a portion of new DAC shares for bitcoin as proposed, give a portion to protoshare holders and let miners mine the rest?

I can tell you how I think people will react to your plans but at the same time I acknowledge that coming up with viable, economically sound solutions to funding your development teams is going to be difficult.

I really hope you are getting the message that what you are proposing we aren't buying.

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General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 06:21:40 pm »
I agree with fuzznuts. I am one of those newcomers driving up the price of PTS by purchasing them on the exchange and I feel like you are rigging the game against me. Bytemaster you may feel that logically you have found a great way to fund your company but if the price of PTS tanks will you still be right?

We are trying to give you feedback on how current and future shareholders will perceive this move but it seems like you made up your mind prior to starting this thread. Up until now I have been getting everyone I know set up to mine/buy protoshares to support your cause. I did this based on your social contract and future DAC development plans. I would never have done this if the Invictus mission statement was to "Maximize Shareholder Value". We can already by stock in thousands of companies ruled by that mantra. You guys used to offer a different solution.

I understand that if the price rises this may be in the best interests of a current shareholders but this is just wishful thinking. You don't get to have you cake and eat it too. If you need more capital sell your shares.


5
General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 04:35:03 pm »
I actually only started mining a week ago but I still see the input cost per share in that range for most people. I mined 2PTS for pennies worth of electricity this week then traded/purchased the rest of my shares. I missed the mining boat but had the idea that investment was still worth while because so many shares would still be minable over time. You are shutting out new investors in an effort to protect your current stake with this scheme.

Bytemaster, you have explained that this move would be an effort to increase value for current shareholders. That value is set by market forces not energy costs. If new investors can't be lured into your ecosystem PTS lose their value. I have been purchasing Protoshares under the assumption that Protoshares were only the beginning and that the vast majority of stake in future projects would still up for grabs. Newcomers like me drive the price of PTS up. Energy costs have nothing to do with it.

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General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 04:07:59 pm »
I'm in the same boat as rejectkid. I mined my protoshares for a few dollars worth of electricity on my personal computers which are already running 24/7. Your proposed system will reprice your shares based on input cost. You don't want this. $6/288PTS = $0.02/PTS or 0.00002BTC. I'm sure our PTS price will tank even lower. I noticed it's dropped 20% on bter since I went to bed last night already. Please give up on this idea!

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General Discussion / Re: The Ideal Mining Pool
« on: December 15, 2013, 07:54:46 am »
Are you angry at the people mining PTS right now? You sound angry. I think people are generally earning PTS in proportion to their contributed col/min are they not? That sounds fair to me.

No one is going to give you BTC to run your own private mining pool.


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General Discussion / Re: Angel Shares Feedback Requested
« on: December 15, 2013, 07:18:26 am »
I understand you have to do what you have to do but I think this will kill the price of PTS and destroy what "shareholder value" you have earned over the last few months.

+1 for Liberties Comments





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