Author Topic: [ANN] New Money project & SOLCERT token  (Read 47639 times)

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TravelsAsia

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I'm not comfortable with this, I'll most likely look for an earlier exit. 
Best of luck and kick ass

These statements seem inconsistent. After reading the materials and looking at the videos, I don't know how you could possibly imagine a quick killing on this. If you invest in it, do it with heart. Short term speculators are not what this guy needs.

I like what's he trying to accomplish as an END GOAL, I just think there's too many unknowns as well as items that are subject to change to be in it long term for me anyway.  The ability to hold more auctions at whatever price he wants gives him the ability to undercut investors at all stages. It's his right, just not something I find particularly exciting. If the tokens were backed against something, that would be a different story.

I didn't say I was exiting tomorrow, I said an earlier exit than I was initially planning.  "Quick killing'? You are twisting my words, hopefully not intentionally.  What 'the guy needs' is funding, and that's exactly what many of us have already done.  If he didn't need any money, he could have easily just moved to Kickstarter.

I can appreciate your opinion and at the same time not see eye to eye with you. :) I believe Solomon believes in this project 100%. Unlike other projects, I've been very impressed with his quick responses and overall engagement. I just think reconsidering some fundamentals that have been suggested by others in the community would yield better results for everyone.

TravelsAsia

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@SolomonSollarsNSense I sent you a link on how you might want to structure a signature campaign.

Just a few thoughts:

* I would pay attention to the finance guys on here (even the ones that disagree with me ha). if they see issues with approach, I'd seriously listening to the feedback.
* The pre-sale made sense, it was a tiered structure, similar to what we've seen with other projects
* There's still a lot of questions on how the pre-sale, ICO and kickstarter all work together
* With your incredible film background, I hope you lean more towards experts outside your scope on the supply/financing side
* You've mentioned Muse a few times, I personally don't know if that's the shining example I'd use on how to organize a project
* I understand the long term goal from what you explained, I just don't think the fundamentals quite work (but can be tweaked)

This community can help you reach your long term goal, I'd listen to what they are saying about the finance fundamentals.

Offline svk

Quote
SoLCerts is an example of using a token to represent a portion of the 1 trillion SSS Sollar bond fund. 10,000,000 SSS Sollar bonds will be represented through this (SoLCerts) token.

http://newmoney.sollars.com/new-money-funding-series-part-4-solcerts/

So these 10 million SolCerts represent 0.001% of a total 1 trillion bond fund?

(I don't understand bonds very well, to someone more familiar with limited crypto tokens, this pre-sale seems to be for a very small amount of future supply?)


Thanks for diving deep.  ;D Yes 1 SoLCert essentially equals one future Sollar through the Sollar Bond. But that is too complicated to explain to most people. At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin as we are trying to be a currency with it and not a commodity like Bitcoin or Bitshares. Our commodity is SOLCERTS and Sollar Bonds. That is more like Bitshares or a speculative asset. One can use SoLCerts/Sollar Bonds to speculate on the value of the future Sollar against the future Dollar. If you believe the Dollar will be here forever then no need to follow this project. If you dont then consider the vision and roadmap of our project. Read part 3 of that series.

Check out our General FAQs section too: https://medium.com/@sollarsandsense/new-money-faqs-2d5e8e730caf#.y7lew7tfa

Whether Sollars supply gets to 1 Trillion or 60 Trillion like the Dollars market cap will all depend on adoption of the currency by regular everyday consumers. It is my 10 year goal to get it to 1 Trillion. And to start on that path is with SOLCERTS and Millennials. We are issuing assets the same way Bitcoin, the US government and Bitshares issued assets to fund itself out of thin air. This is no different except that we are creating a mainstream alternative with a brand to actually take on the Dollar. So if you believe in a stable alternative to the Dollar then believe in this... or not. Either way people participating in our pre-sale are essentially buying into that mainstream currency supply now through SOLCERTS. And if we are successful you are going to be glad you did. Hope this info helps.

Thanks, I appreciate the explanation.

Quote
At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin

Given that a SOLCERT is a future Sollar and Sollars will be unlimited in supply, I'm still uncertain how the value of my investment will dramatically increase through adoption but I will look into it more at the links provided & hopefully understand it better.


The closest model to what you are offering via Solcerts that we have in crypto at the moment is Nubits. (Nubits, like Sollars and Sense are a stable unlimited supply coin, in their case pegged to the value of USD. https://nubits.com/)

The issuance of NuBits is controlled by NuShares shareholders. https://nubits.com/nushares/introduction
Most traditional investors (crypto or otherwise) would be much more interested in investing in and owning the underlying company, that issues Sollars, while mainstream would be more interested in owning & using NuBits/Sollars (Which a SolCert entitles you too.)

How does someone become a shareholder in the underlying company behind New Money?
(How does someone besides you get to have a say in the issuance of new Sollar bonds and what the received funds are spent on?)
Or will that come later? Thanks.

This is a hundred times worse than anything else I have ever seen*.
1.At least Nubits did not start by selling Nubits first and keeping all the actual shares NuShares (fed chairs) by a single person.
2. At least Nubits did not aim for selling 500K Nushares at different prices (different prices for a stable currency…. But hey this is just one of many inovations in the ‘new money’).
3. At least Nubits did not hide the fact what you are buying, well buried in the sale's pitch.
4.At least Nubits founders had a clear idea and reasoning (be it backed by a wrong theory) behind their model.
5. At least Nubits were not let by a film maker who believes that having a vision and a dream is all that one needs to call himself "Vitalik and ByteMaster" and the best man to lead a tech project as a result of that.

My utter disappointment is not with this project though. My disappointment will be if BM does not come and say something AT LEAST as soft as - "Guys you should seriously reconsider putting this on a more solid ground". Unless he does so he would have lost total respect by me, for being soft indecisive leader. One might even call him 2 faced when it comes to project on his platform as opposed by somewhere else. This has all the writings to be a total train rack and him expressing some caution regarding it is the least he can do to prevent bitshares being a collateral damage in this.
PS
Well, at least my conscious is clear now . I put it here, you read  it and you are warned. The rest is up to you.
I have been wrong more times in my life than I have been correct…. But this thing is such a utter nonsense that I simply cannot be wrong… unless I have been moved to a new parallel reality where the nonsense is the only thing that actually makes sense.

PSS
Since writing this response several days ago I have run into several other things that boggle my mind….
So the “worse than anything else I have ever seen” statement has a good rival now, fighting for the number one spot in my list.

PSSS
BTW Emperical  + 1 on all of your later posts after the one quoted. My mind is so overwhelmed by enormity of the illogicality of this thing that it literally stops me in my tracks when trying to explain the 200 ways it makes no sense what so ever.  I am glad you have the mind to calmly handle such a giant yarn (what yarn stupid tonyk… it is not a yarn it is a not -interconnected pile) of BS.

Nothing to add but quoted for support..
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Offline liondani

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This is a hundred times worse than anything else I have ever seen*.
1.At least Nubits did not start by selling Nubits first and keeping all the actual shares NuShares (fed chairs) by a single person.
2. At least Nubits did not aim for selling 500K Nushares at different prices (different prices for a stable currency…. But hey this is just one of many inovations in the ‘new money’).
3. At least Nubits did not hide the fact what you are buying, well buried in the sale's pitch.
4.At least Nubits founders had a clear idea and reasoning (be it backed by a wrong theory) behind their model.
5. At least Nubits were not let by a film maker who believes that having a vision and a dream is all that one needs to call himself "Vitalik and ByteMaster" and the best man to lead a tech project as a result of that.

My utter disappointment is not with this project though. My disappointment will be if BM does not come and say something AT LEAST as soft as - "Guys you should seriously reconsider putting this on a more solid ground". Unless he does so he would have lost total respect by me, for being soft indecisive leader. One might even call him 2 faced when it comes to project on his platform as opposed by somewhere else. This has all the writings to be a total train rack and him expressing some caution regarding it is the least he can do to prevent bitshares being a collateral damage in this.
PS
Well, at least my conscious is clear now . I put it here, you read  it and you are warned. The rest is up to you.
I have been wrong more times in my life than I have been correct…. But this thing is such a utter nonsense that I simply cannot be wrong… unless I have been moved to a new parallel reality where the nonsense is the only thing that actually makes sense.

PSS
Since writing this response several days ago I have run into several other things that boggle my mind….
So the “worse than anything else I have ever seen” statement has a good rival now, fighting for the number one spot in my list.

PSSS
BTW Emperical  + 1 on all of your later posts after the one quoted. My mind is so overwhelmed by enormity of the illogicality of this thing that it literally stops me in my tracks when trying to explain the 200 ways it makes no sense what so ever.  I am glad you have the mind to calmly handle such a giant yarn (what yarn stupid tonyk… it is not a yarn it is a not -interconnected pile) of BS.

 +5% +5% +5%

Questions to Solar $ense:
A)When will CCEDK release the funds to you
B)Will you keep the BTS after crowd-sale or will you exchange them with other "stable" assets?


PS1  I think he has good intentions (Or at least I hope so)
PS2  I am looking close the project to see if only MARKETING @ A VISION can pump the price "significant"
PS3  Result oriented it could benefit BTS if same MARKETING methods are used(?) We will find out soon i guess...

Offline SolomonSollarsNSense

??? Part 2: http://newmoney.sollars.com/new-money-funding-series-part-2-reserve/

....... And there is a reason why our launch on BitcoinTalk has been an early success. Despite being part of Bitshares.

......... We will never be a mini-me to the Fiat system masquerading as a blockchain. This does not mean people cant gain value. Its actually the opposite. It is what will bring everyone value. ITS WHAT THE PEOPLE DEMAND.


The general public will not switch to a system in mass that looks like their old FED system. What's the point?

Wow man i don´t know were to start here,  first you are in the bitshares forum in fact i buy some of your stuff not by your great personality, cause i dont even know you, but for the great support of some members of this forum, and you came here to say that your proyect is an early success despite being part of Bitshares lol no further comments on that. :D

Next thing is how you to express about Bitcoin and blockchain ( Fiat system masquerading), that tells me that you don´t understand what Bitcoin is all about,  in fact is a shame, the vast mayority of us are here because indeed understand  how the real world money system functions and the possible ways to change it.

The point is the people either change in mass just because you got nice sentiments about something or good intentions, the fact is that everyone go out every day and worked his fingers to the bone just to make a living, if something is not profiting or not convenient for them ya could be a fantastic idea nobody gives a shit, that's elementary economics, instead of  claiming raising funds you may probably ask for donations, here is not ICO possible cause you are offering nothing for your investors meanwhile you are receiving my hard earned money.

First llildur I want to say thank you for believing in this project with whatever you have donated. I greatly appreciate it  :)

I think you misunderstand my statement in speaking on Bitshares. It is not meant as a slight to you or any of the Bitshares community members. You have no idea how much I appreciate you all and it is why I proudly where my badge of Bitshares and powered by Bitshares.  :D

This is DESPITE individuals telling me not too. I say you stick with those who stuck with you. Look at the comment on our Explainer video for empirical reference.

The statement on Bitshares is actually meant as a truth we all know in our hearts. We all know BitcoinTalk folks dont really like us. They dont. As a matter of fact I was encouraged by many as we came closer to launch TO NOT launch a thread there that it was just a waste of time. And since I was involved with Bitshares that they would flame and FUD the project.

Because of how we approach our launch though (focusing on the things that no one else focuses on) we have seen the opposite reaction and its something I have argued for a long time. As a matter of fact I can remember back in 2014 Stan working tirelessly with paragraphs of clear and viable arguments against the trolls at BitcoinTalk who just would not give up. It was funny because I would read and really be intrigued by Stan's thoughts despite the futile efforts of those members to discredit it. It was laughable.

But he probably didn't know it. I wish I could have told him they really did not matter as their technology spoke for itself. Instead I actually came here... Anyways that is neither here nor there. I can tell you I do understand Bitcoin and its EXACTLY why I am part of Bitshares in the first place. And I don't have nice sentiments. Anyone who knows what we are doing knows the business mode. It is similar to PeerTracks/MUSE and has been expressed for ages on this thread and in the videos we have created.

We have a roadmap that starts in Hollywood and on KickStarter. We build from there. Latest video from channel. I know what I am doing and am an expert when it comes to my field and the demographic we are reaching: https://www.youtube.com/watch?v=v-y9Lxa4CSw

Again thank you sir for your participation. I in no way meant disrespect to you and your hard earned cash, nor anyone else who genuinely believes this can work on some level. Nothing in life is guaranteed but we will work our hardest to bring this project to a mainstream audience.

May be we need a  clear roadmap

Ebit thank you for your participation so far. I don't know that I can get any clearer than I've been so far in this thread. If you want a roadmap of exactly what is going to happen? For that only time will tell. I've done my best to lay out a pre-emptive roadmap of what is important to focus on as we are trying to reach a totally different audience.

This is not a typical crypto-currency project. What we are aiming to do in the short-term and what we even want to aim for in the long term has been laid out and expressed. But looking at Bitshares and Ethereum and as individuals who have been here since 2013 we should know roadmaps never stay the same.

Think of how much has changed since 2013 because of what we have learned. Look at the roadmap of Bitcoin. Seems it has gone off the road  :P

Look at Bitshares and Ethereum roadmap. Just think of how much has changed despite our early goals. They have changed significantly. I say that to say trust that I am an expert in my field. I have thought this out long and hard and will get Bitshares technology adopted. Keep watching we are just getting started  :)

Congratulations on launching your project Solomon and with your collaborations! Very very exciting! I don't have the funds to invest at this point but wish you the very best of luck.

Hey Ben! Thanks man! We've come a very long way.  :D

And still much more to go. But at least this time its with friends and comrades. Don't worry about it. Your words of encouragement are good enough! Its tough for one to put their vision out there, but honestly I'm very grateful to the Bitshares community coming behind this project in the way that it has.

Our overall image to the rest of the crypto-community is changing. A lot of us can feel it. People are genuinely interested in what we are doing and being civil with this project. They are asking more and more about Bitshares. Makes me happy because it is proving my original thesis out. That sometimes its not about the tech but the entrepreneur or people behind it.

With that let's stay positive and show the wider crypto-community that THIS is how you reach a mainstream audience. Not with Blockchain but with $ense #PoweredByBitshares #OnlyAtBitshares #OriginalRockStarDelegate

Yeah, Bitshares, Bitcoin, Ethereum it's all technology untill we have products that people really care. That's why entrepreneurs are standing up to launch products and business people care about (Sollywood TV, Echo Apps, PeerTracks, M.A.S and more to come...). These projects will take bitshares in another level. Mainstream don't even care if it's powered by Bitshares, Bitcoin or Ethereum Blockchains.

 +5% You are absolutely right. The platform is the base but it's the entrepreneurs that are going drive the adoption.

 +5% +5% +5%
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Offline tonyk

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SoLCerts is an example of using a token to represent a portion of the 1 trillion SSS Sollar bond fund. 10,000,000 SSS Sollar bonds will be represented through this (SoLCerts) token.

http://newmoney.sollars.com/new-money-funding-series-part-4-solcerts/

So these 10 million SolCerts represent 0.001% of a total 1 trillion bond fund?

(I don't understand bonds very well, to someone more familiar with limited crypto tokens, this pre-sale seems to be for a very small amount of future supply?)


Thanks for diving deep.  ;D Yes 1 SoLCert essentially equals one future Sollar through the Sollar Bond. But that is too complicated to explain to most people. At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin as we are trying to be a currency with it and not a commodity like Bitcoin or Bitshares. Our commodity is SOLCERTS and Sollar Bonds. That is more like Bitshares or a speculative asset. One can use SoLCerts/Sollar Bonds to speculate on the value of the future Sollar against the future Dollar. If you believe the Dollar will be here forever then no need to follow this project. If you dont then consider the vision and roadmap of our project. Read part 3 of that series.

Check out our General FAQs section too: https://medium.com/@sollarsandsense/new-money-faqs-2d5e8e730caf#.y7lew7tfa

Whether Sollars supply gets to 1 Trillion or 60 Trillion like the Dollars market cap will all depend on adoption of the currency by regular everyday consumers. It is my 10 year goal to get it to 1 Trillion. And to start on that path is with SOLCERTS and Millennials. We are issuing assets the same way Bitcoin, the US government and Bitshares issued assets to fund itself out of thin air. This is no different except that we are creating a mainstream alternative with a brand to actually take on the Dollar. So if you believe in a stable alternative to the Dollar then believe in this... or not. Either way people participating in our pre-sale are essentially buying into that mainstream currency supply now through SOLCERTS. And if we are successful you are going to be glad you did. Hope this info helps.

Thanks, I appreciate the explanation.

Quote
At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin

Given that a SOLCERT is a future Sollar and Sollars will be unlimited in supply, I'm still uncertain how the value of my investment will dramatically increase through adoption but I will look into it more at the links provided & hopefully understand it better.


The closest model to what you are offering via Solcerts that we have in crypto at the moment is Nubits. (Nubits, like Sollars and Sense are a stable unlimited supply coin, in their case pegged to the value of USD. https://nubits.com/)

The issuance of NuBits is controlled by NuShares shareholders. https://nubits.com/nushares/introduction
Most traditional investors (crypto or otherwise) would be much more interested in investing in and owning the underlying company, that issues Sollars, while mainstream would be more interested in owning & using NuBits/Sollars (Which a SolCert entitles you too.)

How does someone become a shareholder in the underlying company behind New Money?
(How does someone besides you get to have a say in the issuance of new Sollar bonds and what the received funds are spent on?)
Or will that come later? Thanks.

This is a hundred times worse than anything else I have ever seen*.
1.At least Nubits did not start by selling Nubits first and keeping all the actual shares NuShares (fed chairs) by a single person.
2. At least Nubits did not aim for selling 500K Nushares at different prices (different prices for a stable currency…. But hey this is just one of many inovations in the ‘new money’).
3. At least Nubits did not hide the fact what you are buying, well buried in the sale's pitch.
4.At least Nubits founders had a clear idea and reasoning (be it backed by a wrong theory) behind their model.
5. At least Nubits were not let by a film maker who believes that having a vision and a dream is all that one needs to call himself "Vitalik and ByteMaster" and the best man to lead a tech project as a result of that.

My utter disappointment is not with this project though. My disappointment will be if BM does not come and say something AT LEAST as soft as - "Guys you should seriously reconsider putting this on a more solid ground". Unless he does so he would have lost total respect by me, for being soft indecisive leader. One might even call him 2 faced when it comes to project on his platform as opposed by somewhere else. This has all the writings to be a total train rack and him expressing some caution regarding it is the least he can do to prevent bitshares being a collateral damage in this.
PS
Well, at least my conscious is clear now . I put it here, you read  it and you are warned. The rest is up to you.
I have been wrong more times in my life than I have been correct…. But this thing is such a utter nonsense that I simply cannot be wrong… unless I have been moved to a new parallel reality where the nonsense is the only thing that actually makes sense.

PSS
Since writing this response several days ago I have run into several other things that boggle my mind….
So the “worse than anything else I have ever seen” statement has a good rival now, fighting for the number one spot in my list.

PSSS
BTW Emperical  + 1 on all of your later posts after the one quoted. My mind is so overwhelmed by enormity of the illogicality of this thing that it literally stops me in my tracks when trying to explain the 200 ways it makes no sense what so ever.  I am glad you have the mind to calmly handle such a giant yarn (what yarn stupid tonyk… it is not a yarn it is a not -interconnected pile) of BS.
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline ebit

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May be we need a  clear roadmap
« Last Edit: March 30, 2016, 07:39:57 am by ebit »
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Offline SolomonSollarsNSense

 ??? Part 2: http://newmoney.sollars.com/new-money-funding-series-part-2-reserve/

Empirical it is very simple. Please do the readings and understand the project BEFORE you comment like you have already done them. It therefore will not seem like FUD. I have spent too much time putting this all together for it to otherwise be the case. There is a reason why individuals are donating. And there is a reason why our launch on BitcoinTalk has been an early success. Despite being part of Bitshares.

This is about mass adoption of a currency unit by the 7 Billion people who inhabit this world. NOT about what you can maximally gain from profits or the amount of control you can have from this. If that is your top priority this is not and will never be the project for you. We will never be a mini-me to the Fiat system masquerading as a blockchain. This does not mean people cant gain value. Its actually the opposite. It is what will bring everyone value. ITS WHAT THE PEOPLE DEMAND.

If you are not actually interested in participating in this project that is fine. I simply suggest you move on. We have a difference in philosophy on monetary system and we need to live with our differences. The way I have configured the coming Sollars DAC is one for mass adoption of its currency unit by the general public. This coming system will not be owned with shares. It will be owned with bonds.

The general public will not switch to a system in mass that looks like their old FED system. What's the point? That is my philosophy and I have computed accordingly. You believe in something different and that is fine. That's what makes us human. Regards.
« Last Edit: March 30, 2016, 03:11:28 am by SolomonSollarsNSense »
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Offline Empirical1.2

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Question 4:

So the funds raised in the pre-sale and the ICO will be used to launch the Kickstarter. I'm with you on this so far.   Since all ~9 million tokens are already issued, what exactly are you selling during the kickstarter and how does that benefit existing token holders?

Scenario:

6 million sold during presale
3 million (slightly less) sold during ICO
What is offered during the kickstarter and how does that affect the presale holders.


These 9 million tokens represent just a tiny fraction of the total tokens that may be issued. So expect many millions of new tokens to be issued for the kickstarter.

Quote
SoLCerts is an example of using a token to represent a portion of the 1 trillion SSS Sollar bond fund. 10,000,000 SSS Sollar bonds will be represented through this (SoLCerts) token.

http://newmoney.sollars.com/new-money-funding-series-part-4-solcerts/


Solcerts are not like Apple/Microsoft/Ethereum/BTS where you are buying limited tokens that will increase in value as the company increases in value.

Solcerts are not like Bitcoin where new limited currency is created but provided adoption/demand is greater than new supply the tokens will increase in value with no ceiling. 

Solcerts are not like BitUSD which is unlimited based on market demand but is pegged to the dollar and backed by collateral.

At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin

Your Solcert is a future Sollar. Sollars are a stable unlimited supply coin. (Pegged to & backed by nothing.)

You forgot part 3: http://newmoney.sollars.com/new-money-funding-series-part-3-sollars-coming-dac-smart-money-tree/


Quote
The Sollar bond takes the role of appreciating and speculative asset while it has not been redeemed (Bitshares,NuShares, Bitcoin). And Sollars and Sense plays the stable money unit of the system that can be used everyday (emunie, nubits, BitUSD, Tether).

As far as I can tell the sollar bond can't take the role of the appreciating and speculative asset like BTS/BTC/ETH because it only entitles you to a future Sollar & like Sollars, Sollar bonds can be issued in unlimited & unknown amounts, by you personally it seems initially, as there is no DAC yet.

Quote
.At some point on the road there includes Sollars and Sense switching from being a UIA, that is manually pegged to the Dollar, to being its own independent DAC where its stability to the Dollar is automated with no human involvement.

As you intend to manually peg the Sollar to the dollar initially, there is some upside if you purchase 1 Solcert for less than 1 dollar. But unfortunately you won't have raised enough funds to provide any meaningful & redeemable collateral so it's unclear how or why Sollars would get pegged.

There could be something I'm really missing here & I'm not familiar with Emunie's stability mechanism, but personally I think most investors here and on kickstarter would prefer to invest in a company. You could possibly re-configure this so that these 10 million tokens represent shares in the New Money project itself. (Even if you say you will also be issuing X million shares at the Kickstarter, Y million for yourself, Z million set aside for A/B/C.) Then people can put a value on your idea, vision and the New Money Project. In terms of bootstrapping Sollars,  you could issue them at 1-1 with the dollar whenever  a mainstream customer wants a Sollar & peg them using something similar to Nubits/NuShares system. Both could exist on BTS. 

I think you're going to have a lot of confused people thinking they were buying shares in a 10 million token DAC and not understanding they were buying fairly unlimited bonds that will hopefully be redeemable for a token pegged to the dollar in future. (Even though you mention long term they won't necessarily be unequivocally tied to the dollar.)
« Last Edit: March 30, 2016, 02:04:14 am by Empirical1.2 »
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Offline Vizzini

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I'm not comfortable with this, I'll most likely look for an earlier exit. 
Best of luck and kick ass

These statements seem inconsistent. After reading the materials and looking at the videos, I don't know how you could possibly imagine a quick killing on this. If you invest in it, do it with heart. Short term speculators are not what this guy needs.
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Offline SolomonSollarsNSense

"B) Can you guarantee that additional actions WILL NOT sell for less than the amounts in any previous auction. For example, if I paid 50 BTS per Sollar in auction 1, I wouldn't want to see SollarsandSense sell the next batch starting at 20 BTS. It would completely remove the incentives for early investors.

No this cannot be guaranteed as this is not a security nor are we selling one with guarantees of returns."

I'm not comfortable with this, I'll most likely look for an earlier exit.  The ability to have more auctions and to price it lower than your first batch of investors doesn't feel right. The tiered approach you are using isn't really representative of the project. If you can just decide what to sell that next auction at, you can undercut the people that supported you early.  I'll have to pass.  It's just an opinion, but it leaves too much central control. I understand the idea, I like your videos but I won't be investing any more.

I appreciate you answering my questions, I hope that also allows potential investors to have a better idea of the project. The material was so dense, it's taken me longer to understand this than Ethereum. :)

Best of luck!

No worries. I totally understand. As I stated before it would not be wise to do that. The system will not be centrally controlled it will be based on DPOS. We are issuing units now of that open-source system so people can gain from that position or not. Our pre-sale is mimicking supply and demand. Nothing wrong with that. People have positions in this for all sorts of reasons.

Some have donated because they really do believe my vision is the one to replace the Dollar. Others have donated because they think I have a great personality. Still yet others have donated because they like the Cable TV angle but think the SoLCert long term goal is a little much. Still they believe they can gain short term. We welcome them all. This project is a long term one and DPOS will be adopted as this is a powered by Bitshares project as stated lol.

Either way I appreciate your enthusiasm and willingness to help out and believe. Thanks man!  :)
« Last Edit: March 30, 2016, 12:41:08 am by SolomonSollarsNSense »
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Offline liondani

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I'm not comfortable with this, I'll most likely look for an earlier exit.  The ability to have more auctions and to price it lower than your first batch of investors doesn't feel right. The tiered approach you are using isn't really representative of the project. If you can just decide what to sell that next auction at, you can undercut the people that supported you early.  I'll have to pass.  It's just an opinion, but it leaves too much central control.

 +5%


TravelsAsia

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"B) Can you guarantee that additional actions WILL NOT sell for less than the amounts in any previous auction. For example, if I paid 50 BTS per Sollar in auction 1, I wouldn't want to see SollarsandSense sell the next batch starting at 20 BTS. It would completely remove the incentives for early investors.

No this cannot be guaranteed as this is not a security nor are we selling one with guarantees of returns."

I'm not comfortable with this, I'll most likely look for an earlier exit.  The ability to have more auctions and to price it lower than your first batch of investors doesn't feel right. The tiered approach you are using isn't really representative of the project. If you can just decide what to sell that next auction at, you can undercut the people that supported you early.  I'll have to pass.  It's just an opinion, but it leaves too much central control. I understand the idea, I like your videos but I won't be investing any more or bringing in new people with this approach.

With Solomon's latest answers (we've been at this all day), I'm much more comfortable. Still lots more to ask/discuss, but the above statement I crossed out won't be an issue.  Will have my summary submitted to Solomon in the next few hours.
« Last Edit: March 30, 2016, 08:38:12 pm by TravelsAsia »

Offline SolomonSollarsNSense


Question 4:

So the funds raised in the pre-sale and the ICO will be used to launch the Kickstarter. I'm with you on this so far.   Since all ~9 million tokens are already issued, what exactly are you selling during the kickstarter and how does that benefit existing token holders?

Scenario:

6 million sold during presale
3 million (slightly less) sold during ICO
What is offered during the kickstarter and how does that affect the presale holders.


These 9 million tokens represent just a tiny fraction of the total tokens that may be issued. So expect many millions of new tokens to be issued for the kickstarter.

Quote
SoLCerts is an example of using a token to represent a portion of the 1 trillion SSS Sollar bond fund. 10,000,000 SSS Sollar bonds will be represented through this (SoLCerts) token.

http://newmoney.sollars.com/new-money-funding-series-part-4-solcerts/


Solcerts are not like Apple/Microsoft/Ethereum/BTS where you are buying limited tokens that will increase in value as the company increases in value.

Solcerts are not like Bitcoin where new limited currency is created but provided adoption/demand is greater than new supply the tokens will increase in value with no ceiling. 

Solcerts are not like BitUSD which is unlimited based on market demand but is pegged to the dollar and backed by collateral.

At the end of the day a SOLCERT is a future Sollar. Sollars and Sense will be a stable unlimited supply coin

Your Solcert is a future Sollar. Sollars are a stable unlimited supply coin. (Pegged to & backed by nothing.)

You forgot part 3: http://newmoney.sollars.com/new-money-funding-series-part-3-sollars-coming-dac-smart-money-tree/



Question 5 (5 parts)

"We have created a crypto-token to represent the SSS Sollar Bond today before its official implementation on the Sollars DAC. The token has been dubbed SoLCerts (pronounced: soul-sert). Each SoLCert represents the value of one SSS Sollar Bond which (as we have come to know) represents the value of one future Sollar to be redeemed by the bondholder. You already know the exchange rate for Dollars to Sollars and vis versa for mainstream consumers. Do the math."

Not great at math, but let me see if I understand this. 

A) If I own 100 SoLCerts, that will be worth the same as someone on the Kickstarter getting 100 Sollars which equals 100 dollars?

Solomon: That should be the case if things go great. Nothing is guaranteed though and this is best case scenario.

Like US treasury bonds we will continue to put up Sollar bonds in the crypto market through a series of auctions using crypto tokens like SoLCerts.

B) Can you guarantee that additional actions WILL NOT sell for less than the amounts in any previous auction. For example, if I paid 50 BTS per Sollar in auction 1, I wouldn't want to see SollarsandSense sell the next batch starting at 20 BTS. It would completely remove the incentives for early investors.

No this cannot be guaranteed as this is not a security nor are we selling one with guarantees of returns.

SoLCerts is an example of using a token to represent a portion of the 1 trillion SSS Sollar bond fund. 10,000,000 SSS Sollar bonds will be represented through this token.

C) Does this mean you're only selling 1/10000 (10 million of 1 trilliion) of this total fund or am I reading that wrong. If so, you're evaluating this fund at 1 trillion?

Yes. Please read from Part 1 why this is the case. It is a different philosophy and route to mass adoption that I believe is necessary.


D) Once the pre-sale is complete, will this be immediately available for trade? If so, against what currencies? BTS? Open.BTC etc?

Yes the markets have already been created. So if you do not believe or agree with this project at that time you may take action on the open market. Just remember Bitcoin Pizza guy. But take whatever action you need to take accordingly.

E) Is either the SolCerts or Sollars pegged to anything?

I've said from the outset that this is a different project with different goals of gaining mass adoption. It may be different from others philosophy of how to "fund ones self out of thin air" But lets not act as if there is an end all be all or a perfect way of doing it. That is how much of our mistakes as a community were made in the first place.

Bitshares Bitcoin and Ethereum have gain people value and have lost people value. Regardless of their God-like configurations of perfection NOTHING IN LIFE IS guaranteed. Anyone who ACTS as if they have the holy grail of how new monetary systems (AFTER ALL WE HAVE BEEN THROUGH) should check for a God complex. As I said clearly in part 5 of the SoLCert series there are many ways to fund ones self. All should be tried in an open free market. Let the people decide.

You don't like our long term goals or strategy then develop a short term view of your position in this project. Many individuals find value in this project for different stages of our roadmap. At the end of the day we are going to a mainstream audience and its going to take more than the small crypto-world to achieve that.

As I said in the beginning this will not be a digital currency that is known for having less than 1000 individuals own its whole supply. That is not what we are creating here. This is a movement of the people not another Fiat mini-me masquerading as a blockchain (BITCOIN).

You want to increase your potential value, its easy to calculate just like Dollars. Own more. You will be using it NOT hoarding it. This is not Bitcoin. As was stated in the FAQs:

(11) Why do a series of auctions? Great question. 1. It ensures enough funding for the present and on-going development of this project. 2. Allows newly minted believers to participate in our future endeavors. 3. Rewards those individuals who are holding our tokens and have been with us since the beginning (quasi-loyalty program)

When we come out with more auctions and tokens participate. We of course will look to do our early believers right BUT that is not a promise nor is it a guarantee. Nothing in life is. Take that how you must. Either way we are making $ense for this world.
« Last Edit: March 30, 2016, 12:21:38 am by SolomonSollarsNSense »
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TravelsAsia

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Question 5 (5 parts)

"We have created a crypto-token to represent the SSS Sollar Bond today before its official implementation on the Sollars DAC. The token has been dubbed SoLCerts (pronounced: soul-sert). Each SoLCert represents the value of one SSS Sollar Bond which (as we have come to know) represents the value of one future Sollar to be redeemed by the bondholder. You already know the exchange rate for Dollars to Sollars and vis versa for mainstream consumers. Do the math."

Not great at math, but let me see if I understand this. 

A) If I own 100 SoLCerts, that will be worth the same as someone on the Kickstarter getting 100 Sollars which equals 100 dollars?

" Like US treasury bonds we will continue to put up Sollar bonds in the crypto market through a series of auctions using crypto tokens like SoLCerts."

B) Can you guarantee that additional actions WILL NOT sell for less than the amounts in any previous auction. For example, if I paid 50 BTS per Sollar in auction 1, I wouldn't want to see SollarsandSense sell the next batch starting at 20 BTS. It would completely remove the incentives for early investors.

"SoLCerts is an example of using a token to represent a portion of the 1 trillion SSS Sollar bond fund. 10,000,000 SSS Sollar bonds will be represented through this token."

C) Does this mean you're only selling 1/10000 (10 million of 1 trilliion) of this total fund or am I reading that wrong. If so, you're evaluating this fund at 1 trillion?

D) Once the pre-sale is complete, will this be immediately available for trade? If so, against what currencies? BTS? Open.BTC etc?

E) Is either the SolCerts or Sollars pegged to anything?
« Last Edit: March 30, 2016, 12:03:11 am by TravelsAsia »