Hey Peter,
thanks for sharing your thoughts instead of just leaving.
From your post I read that your concern is mostly investment related and you are invested in BTSX and AGS, right?
So I guess your concern is not about the paradigm shift but more on the financial side.
It's become abundantly clear with their recent decision that I3 is only looking out for their own interests at the expense of their investors/supporters.
I my point of view the disjunct set of investors' and I3's interests just became very small. They want BTS to succeed as much as you do.
Yeah, I3 switches gears and paradigms a lot. But in most cases they have a very good reason for that.
(E.g. not being able to liquidate funds to fund devs and operations, facing the problem that the available workforce is somehow starting to compete, ...)
And if they screw up, they'll fix it. Just have a look at toast, who put in enormous effort to make the people whole that lost the most due to the merger.
But I also shared a big concern of yours:
As an investor it was very blurry in what you really were investing when buying e.g. BTSX or DNS. Who was behind a DAC? What was I3 really committed to?
I my point of view this kept investors pretty much in the uncertain and may even hindered some from investing.
Actually, that 'flaw' is gone now. Was the (still ongoing) transition handled nicely? I guess we all know the answer to that.
But the outcome is actually pretty good. I3 now has a clear focus and commitment. After the dust settles it should make you much more comfortable than before.
I also do not like the vesting of my funds but when looking at the bigger picture this merge is by far the best way to go.
Especially if you hold a big position in BTSX the recent events put you in a much better position.
If you disagree, I would be curious why.
I'd like to apologize for some reactions if your post was a genuine one. The post just checked a couple boxes which provokes this kind of reactions.
Bobb,
The reason for my decision is as follows:
- I3 has repeatedly shown that they are unwilling to commit to a singular course of action.
- I3 unilaterally makes decisions, ones which greatly affect shareholder value, without consulting investors.
- I3 shows no regard in honoring the commitments which initially enticed investment.
I3's intentions are at best ambiguous and the ease in which they are willing to compromise shareholder value is unsettling. Even if you aren't currently affected by their recent decision, what leads you to believe that in the future your investment won't be subjected to a form of infringement at their hands?
One of my tenets of investing is "When in doubt, get out."
Peter
This is getting tiresome.
I address this response to any inexperienced investor hoping to keep their crypto: Anonymous Pete is an amateur actor playing the part of Peter Lynch, a real-life investor and certified old-wealthy-white-guy:
http://en.wikipedia.org/wiki/Peter_LynchAnonymous Pete is engaging in a game of words, posting on an open forum for an ulterior motive: he is hoping to instill a quick panic in the heart of some drunk, high and/or paranoid 19-year-old crypto investor who may be out there at this very moment.
You see, Anonymous Pete is actually a BTSX speculator. But he's come late to the party. And he wants his share, so to speak. So Anonymous Pete has calculated that there may be a few lucky guys out there who bought BTSX early and may have spent some of their profits on mind altering substances. He's shaking the tree a bit in hopes a few panicked apples may fall out.
If they sell, Anonymous Pete will buy.
For Anonymous Pete, it's all about being in the right place at the right time! A shot in the dark, you might say.
In that sense, Anonymous Pete is using the forum as a means of free advertising. That makes the O.P a kind of self-service ad for a profit-making enterprise.
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