Hey bytemaster,
I think you are a brilliant guy and you are doing a hell of a job!
Also I really liked how you handled the whole situation and the way you argued on the 'panic mumble session'. We are all learning and nothing is set in stone.
I even started to like the I3 way of saying we don't care about we've said yesterday (no offense!). This isn't even meant ironically. If you are moving fast, sometimes you have to break things.
But if people have to loose more than 50% of their investment please let them understand why. I am a rational guy and I like a good argument, so just bear with me for a second.
First, you mention that the only fair way to value a DAC is to do so according to their market cap.
Later, you start to argue that 'market cap' isn't 'market cap' because there wasn't enough liquidity.
Which was quite high if you consider that everyone was pulling their bids from the books because of that proposal announcement.
Also you were using wrong numbers (which don't even come close to the real ones) to back it up.
Further toast assured on the forum that the invested money will be preserved.
Just have a look at the markets after the announcement.
But what really kind of upsets me a bit is the way you are playing your arguments.
"BTSX could have evolved without giving DNS anything and then competed with DNS"
You announce an ecosystem, a new DAC goes live, people invest and then you tell them
Hey don't be upset we could have destroyed you anyway?
I really want to understand why you think this valuation/allocation is right. The only argument that you have given is the liquidity one, which I guess hardly is one.
Am I against this merger? No I support it. I think the idea is brilliant.
It sounds like VOTE and BTSX are a perfect match. And I agree, if you start merging you can just to it right and go full circle.
I know this is one particular view and you have to take different angles to look at it.
But the proposal and the way you are arguing show that you are not taking the DNS DAC perspective.
Hence, this argument.