[ANN] THE SMART MONEY PROJECT: Mainstream Adoption Starts Here(FULL UPDATE Pg.9)

[particlewave]

I'll post the same questions here, that were not responded to at bitcointalk:

This project seems like an overly complicated take on micropayments to which the new currency, Sollars, adds very little (do you have any thoughts on this?).

Good answers to a few questions would help ameliorate my skepticism:

1) You seem to have no experience with any kind of tech startup or blockchain project. Do you bring anything other than marketing to this project?

2) Why should anyone give you/your organization 10-20% of the earnings from their films when this whole payment process could easily be entirely decentralized? What is that fee for and why should it not go to the content creators? In short, why do content creators need you at all?
 
3) You seem to be using terms "DAC" and "blockchain" as equivalents, which is not how I understand them. Could you clarify what you mean by DAC and how a DAC fits into your long term plan?
 
4) Your analogy to Uber is problematic. Anyone with a car can be a taxi driver via Uber. Not just anyone can create high quality media content. Making blockbuster TV shows and films takes massive teams of people and large upfront investments. It seems to me that the success of your project depends crucially on convincing wealthy producers that your system will make them more money than the system already in place. How will you do this?

My two cents on 4).
Hip Hop,  an underground urban movement, develop in the South Bronx in New York City in the 1970's, became globally widespread in the late 1980s and by the 2000s became the most listened-to musical genre in the world (according to Spotify). It has now diversified into a global juggernaut with multi-million dollar tentacles into other music genres, the fashion industry, movies, gaming, advertising, etc.  Who would have ever believed it all started in the 'hood from humble ultra-low budget verbose expressions of street life?

The Hollywood movie and television industries' control and rigidity is just so outdated.  Unless you're totally into cookie cutter movies, fake reality shows, computer scripted news and sportscasts, etc.

I think you are oversimplifying the spread of hip hop in your analogy. I would argue that hip hop became popular in large part because it tapped into a kind of authenticity (the real world, on real streets, real life etc) that wasn't present in the music industry at the time. It continues to thrive on the sale of authenticity (whether real or imagined at this point is arguable).

However, that kind of "realness" is currently alive and well in the DIY film world and has been successfully coopted by Hollywood and TV producers long ago. I disagree that Hollywood / big TV producers only make crap. Sure, there's a lot of crap, a majority of crap even, but there are also some genuinely great films and shows that carry the industry. My point is that a show like The Wire (as an example of coopted "realness" that actually ends up being great - in the same way that a rapper like Kendrick Lamar can be coopted but also great) can't happen on a low budget. So, somewhere people with millions of dollars need to step in and say that they want to sell their product differently. The question is, why would they? I haven't seen a good explanation of how that is supposed to happen through Solomon's plan.

More power to grain cutters like Sollywood.  Amateur productions riding the blockchain wave will lead the revolution.

It's one thing to say, "yeah, disrupt Hollywood!" and another to actually be able to do it. As far as I can tell, Solomon doesn't know anything about blockchain tech and he has explicitly said that a blockchain is not what supports this project - it is just an add-on to come later (??). To me that suggests that he is indeed trying to "ride the wave" but in name only as a way to extract money from people in this space, without giving back any of the empowering benefits of the blockchain.

It sounds like he's just proposing another centralized hosting platform. . . which adds nothing to the ecosystem and is unlikely to provide a return to his current or prospective supporters.

@dancingpenquins, very inciteful post. Thanks.

The 'New Money Project Intro Hangout' youtube video defines Sollywood T.V. w/ SollarsNSense thusly:
"..is essentially a new online market place for content and content services with its own digital currency built-in [the] pricing."

The video suggests that content creators can adjust (dynamically?) their price to more aggressively create and/or match consumer demand.  Something big-box distributors (Netflix, cable, etc.) are unable or unwilling to do?
It suggests the greatest benefit to new and unknown content creators.  Pricing optimization (w/ low overhead) to attract a much wider viewership.  Throw in digital currency for the billions of 'unbanked' consumers.
I will assume the SollarsNSense service provider will allow users to create and manage their own personal content packages.
One differenitiator appears to be that with STV a first time moviemaker or videographer could create a some novel, short, quirky content (quirky today, mainstream hot tomorrow) and sell to millions with STV w/ SNS pricing management structure(s).
I can imagine a lot of ways in which such a flexible platform can quickly capture and capitalize on new and unique content attractions.
I would like to create a short with twenty different endings played randomly with each viewing.

So the question is, "How do I, as an investor, profit from this 'next level' content distribution/services model?"

Maybe the Kickstarter campaign will shed more light.

I would think that some component of this venture would have to be centralized (think Peertracks hosting server).

I agree with @Vizzini.  This is a mammoth undertaking.  A grand experiment, have you.  Isn't this what the cryptospace is all about?  No matter how well staffed you are the cryptograveyard will still overflow.  Much success to Sollywood.

BTW, great observation on hip hop.  Hip hop also came along at a time when music technology was taking a quantum leap and becoming a lot less expensive.  Sometimes an order of magnitude less expensive ($8K hardware reverbs to software freeverbs, samplers, drum machines, studio on a laptop, etc.).
BTW, I never said "...Hollywood / big TV producers only make crap."  Please don't misquote misunderstand me.

[dancingpenguins]

I'll post the same questions here, that were not responded to at bitcointalk:

This project seems like an overly complicated take on micropayments to which the new currency, Sollars, adds very little (do you have any thoughts on this?).

Good answers to a few questions would help ameliorate my skepticism:

1) You seem to have no experience with any kind of tech startup or blockchain project. Do you bring anything other than marketing to this project?

2) Why should anyone give you/your organization 10-20% of the earnings from their films when this whole payment process could easily be entirely decentralized? What is that fee for and why should it not go to the content creators? In short, why do content creators need you at all?
 
3) You seem to be using terms "DAC" and "blockchain" as equivalents, which is not how I understand them. Could you clarify what you mean by DAC and how a DAC fits into your long term plan?
 
4) Your analogy to Uber is problematic. Anyone with a car can be a taxi driver via Uber. Not just anyone can create high quality media content. Making blockbuster TV shows and films takes massive teams of people and large upfront investments. It seems to me that the success of your project depends crucially on convincing wealthy producers that your system will make them more money than the system already in place. How will you do this?

My two cents on 4).
Hip Hop,  an underground urban movement, develop in the South Bronx in New York City in the 1970's, became globally widespread in the late 1980s and by the 2000s became the most listened-to musical genre in the world (according to Spotify). It has now diversified into a global juggernaut with multi-million dollar tentacles into other music genres, the fashion industry, movies, gaming, advertising, etc.  Who would have ever believed it all started in the 'hood from humble ultra-low budget verbose expressions of street life?

The Hollywood movie and television industries' control and rigidity is just so outdated.  Unless you're totally into cookie cutter movies, fake reality shows, computer scripted news and sportscasts, etc.

I think you are oversimplifying the spread of hip hop in your analogy. I would argue that hip hop became popular in large part because it tapped into a kind of authenticity (the real world, on real streets, real life etc) that wasn't present in the music industry at the time. It continues to thrive on the sale of authenticity (whether real or imagined at this point is arguable).

However, that kind of "realness" is currently alive and well in the DIY film world and has been successfully coopted by Hollywood and TV producers long ago. I disagree that Hollywood / big TV producers only make crap. Sure, there's a lot of crap, a majority of crap even, but there are also some genuinely great films and shows that carry the industry. My point is that a show like The Wire (as an example of coopted "realness" that actually ends up being great - in the same way that a rapper like Kendrick Lamar can be coopted but also great) can't happen on a low budget. So, somewhere people with millions of dollars need to step in and say that they want to sell their product differently. The question is, why would they? I haven't seen a good explanation of how that is supposed to happen through Solomon's plan.

More power to grain cutters like Sollywood.  Amateur productions riding the blockchain wave will lead the revolution.

It's one thing to say, "yeah, disrupt Hollywood!" and another to actually be able to do it. As far as I can tell, Solomon doesn't know anything about blockchain tech and he has explicitly said that a blockchain is not what supports this project - it is just an add-on to come later (??). To me that suggests that he is indeed trying to "ride the wave" but in name only as a way to extract money from people in this space, without giving back any of the empowering benefits of the blockchain.

It sounds like he's just proposing another centralized hosting platform. . . which adds nothing to the ecosystem and is unlikely to provide a return to his current or prospective supporters.

[SolomonSollarsNSense]

I'll post the same questions here, that were not responded to at bitcointalk:

This project seems like an overly complicated take on micropayments to which the new currency, Sollars, adds very little (do you have any thoughts on this?).

Good answers to a few questions would help ameliorate my skepticism:

1) You seem to have no experience with any kind of tech startup or blockchain project. Do you bring anything other than marketing to this project?

2) Why should anyone give you/your organization 10-20% of the earnings from their films when this whole payment process could easily be entirely decentralized? What is that fee for and why should it not go to the content creators? In short, why do content creators need you at all?
 
3) You seem to be using terms "DAC" and "blockchain" as equivalents, which is not how I understand them. Could you clarify what you mean by DAC and how a DAC fits into your long term plan?
 
4) Your analogy to Uber is problematic. Anyone with a car can be a taxi driver via Uber. Not just anyone can create high quality media content. Making blockbuster TV shows and films takes massive teams of people and large upfront investments. It seems to me that the success of your project depends crucially on convincing wealthy producers that your system will make them more money than the system already in place. How will you do this?

My two cents on 4).
Hip Hop,  an underground urban movement, develop in the South Bronx in New York City in the 1970's, became globally widespread in the late 1980s and by the 2000s became the most listened-to musical genre in the world (according to Spotify). It has now diversified into a global juggernaut with multi-million dollar tentacles into other music genres, the fashion industry, movies, gaming, advertising, etc.  Who would have ever believed it all started in the 'hood from humble ultra-low budget verbose expressions of street life?

The Hollywood movie and television industries' control and rigidity is just so outdated.  Unless you're totally into cookie cutter movies, fake reality shows, computer scripted news and sportscasts, etc.  More power to grain cutters like Sollywood.  Amateur productions riding the blockchain wave will lead the revolution.

  Wisdom. Thanks for it 

[particlewave]

I'll post the same questions here, that were not responded to at bitcointalk:

This project seems like an overly complicated take on micropayments to which the new currency, Sollars, adds very little (do you have any thoughts on this?).

Good answers to a few questions would help ameliorate my skepticism:

1) You seem to have no experience with any kind of tech startup or blockchain project. Do you bring anything other than marketing to this project?

2) Why should anyone give you/your organization 10-20% of the earnings from their films when this whole payment process could easily be entirely decentralized? What is that fee for and why should it not go to the content creators? In short, why do content creators need you at all?
 
3) You seem to be using terms "DAC" and "blockchain" as equivalents, which is not how I understand them. Could you clarify what you mean by DAC and how a DAC fits into your long term plan?
 
4) Your analogy to Uber is problematic. Anyone with a car can be a taxi driver via Uber. Not just anyone can create high quality media content. Making blockbuster TV shows and films takes massive teams of people and large upfront investments. It seems to me that the success of your project depends crucially on convincing wealthy producers that your system will make them more money than the system already in place. How will you do this?

My two cents on 4).
Hip Hop,  an underground urban movement, develop in the South Bronx in New York City in the 1970's, became globally widespread in the late 1980s and by the 2000s became the most listened-to musical genre in the world (according to Spotify). It has now diversified into a global juggernaut with multi-million dollar tentacles into other music genres, the fashion industry, movies, gaming, advertising, etc.  Who would have ever believed it all started in the 'hood from humble ultra-low budget verbose expressions of street life?

The Hollywood movie and television industries' control and rigidity is just so outdated.  Unless you're totally into cookie cutter movies, fake reality shows, computer scripted news and sportscasts, etc.  More power to grain cutters like Sollywood.  Amateur productions riding the blockchain wave will lead the revolution.

[dancingpenguins]

Just for clarity's sake, the 10-20% comes from this quote:

WHILE getting 80-90% of what comes in for your content. You would make 80-90% of what came in at those prices we would make 10-20%. That is the power of new money technologies. And its a BIG DEAL.

from  the main page: http://newmoney.sollars.com/new-money-explaining-new-money-project/

[dancingpenguins]

I'll post the same questions here, that were not responded to at bitcointalk:

This project seems like an overly complicated take on micropayments to which the new currency, Sollars, adds very little (do you have any thoughts on this?).

Good answers to a few questions would help ameliorate my skepticism:

1) You seem to have no experience with any kind of tech startup or blockchain project. Do you bring anything other than marketing to this project?

2) Why should anyone give you/your organization 10-20% of the earnings from their films when this whole payment process could easily be entirely decentralized? What is that fee for and why should it not go to the content creators? In short, why do content creators need you at all?
 
3) You seem to be using terms "DAC" and "blockchain" as equivalents, which is not how I understand them. Could you clarify what you mean by DAC and how a DAC fits into your long term plan?
 
4) Your analogy to Uber is problematic. Anyone with a car can be a taxi driver via Uber. Not just anyone can create high quality media content. Making blockbuster TV shows and films takes massive teams of people and large upfront investments. It seems to me that the success of your project depends crucially on convincing wealthy producers that your system will make them more money than the system already in place. How will you do this?

I'm interested in hearing these answers too.  I scoured all over for the whitepaper that will talk about delivery mechanisms, but couldn't find anything.  There was a reference to "read the whitepaper" at the end of one of the videos, with no link in the youtube description.

If anyone understands what a mammoth undertaking this is...  it's going to take a long time, a lot of money, and a lot of bumps in the road.

If I stood up and said my name is Gary, and I've got a project called Gollars and Gents, to revolutionize the airline industry. Please buy into my ICO, and I'll release the fine details later.  (Right now I just have overview and faq material out), you would all probably tell me to get lost.

Crypto4Ever I'd like to see you try that. Start your own project called Gollars and Gents and see if people will buy into your ICO. I would like to see exactly what happens. Maybe you are just like me and can do exactly what I can do...

Or maybe not.

Everything in life is a mammoth undertaking. That's not new but it is the American way to take that risk and pursue it. And why we stand out from the rest of the world. I am honored that people donated to this project and believed in my ability. At the end that is what will make this project sink or swim.

All questions have been answered either by the current content or the FAQs page which can be found on the OP. I'm working. Regards.

(cross-posted from bitcointalk)

Nope, they have not. I have actually read, for better or worse, most of your blog posts about the project and it is mostly a marketing tool with very little information about the direction of your project. To say that my questions have been answered is disingenuous and the kind of answer you get from a developer who has no answers because they have no project.

Let's take these questions one by one, so it's not as overwhelming. We should start with the simplest and maybe most important question. If you don't have an answer to this, you don't have any way to provide a return to your backers.

Why should anyone give you/your organization 10-20% of the earnings from their films when this whole payment process could easily be entirely decentralized? What is that fee for and why should it not go to the content creators? In short, why do content creators need you at all?

I'll give you two examples to illustrate the problem:

1) Louis CK has a series online called Horace and Pete available for sale through PayPal or Bitcoin. This is a centralized model for selling content that exists right now without Sollywood. What can you offer him in return for the 10-20% fee you propose to take? Why would he, as content creator, provide his content through you?

2) Ujo Music is a decentralized service (a work in progress) that allows direct payments and content distribution between artists and customers without the need for centralized hosting or payment architectures. It will hopefully lead to a sophisticated micropayment system that works behind the scenes, so to speak, so that customers are charged only for the content they consume but without the burden of actively purchasing every piece of content themselves. This will most likely lead to services for other forms of media. THIS is the real "new apple" route that you keep trying to align yourself with. So, again, why would anyone use a service that takes a 10-20% fee when they have this option?

[SolomonSollarsNSense]

Hang in there Solly! I know it's hard with the all the skepticism bantered about, but there's nothing new about that. Thankfully it didn't start out that way! I fully agree about the whitepaper, just not useful for the type of market you're targeting, besides the fact whitepapers are mainly to explain theory and technical details, not really great as a business plan.

Like you said, BitShares will be doing all the heavy lifting on the technical side. Was there a whitepaper for BitShares 2.0? Hmmm...

Exactly Thom  Thanks brother I appreciate the kind words and infinite wisdom. I'm hanging for sure. Can't turn back now.

[Thom]

Hang in there Solly! I know it's hard with the all the skepticism bantered about, but there's nothing new about that. Thankfully it didn't start out that way! I fully agree about the whitepaper, just not useful for the type of market you're targeting, besides the fact whitepapers are mainly to explain theory and technical details, not really great as a business plan.

Like you said, BitShares will be doing all the heavy lifting on the technical side. Was there a whitepaper for BitShares 2.0? Hmmm...

[SolomonSollarsNSense]

Read the description on the video. It is an old video made at the end of 2014 when I believed a White Paper mattered.

I see.  The publish date of the video says "Published on Apr 21, 2016", my mistake.

I personally only heard about this in the last 2 days.  (Some how I miss these ICO opportunities until after they've begun).

I will continue to follow your progress. Good luck.

Thank you sir. I am extremely busy putting things together for the next phase of this project (which is the most important phase) so I apologize if my answers are not super in depth.

I just don't know who is genuinely interested and who just wants to say how this will fail 

I thank you for your interest in this project and hope to garner your further support in the coming days and weeks. This is a long term project so I just ask for your patience. More info will be generated as time goes on including an in depth road map. Technical partnerships for the MVP and Kickstarter vid and so on and so forth. Best regards 
 

[konelectric]

I read some replies above and i had misunderstanding of tiers and value of solcerts too.
I need to have refund my BTS.
There are no rest time to wait till crowd sale ends.
I have sent 292,465.60358 BTS on March 26, 2016, 6:45:24 PM.
Waiting reply.

are you not a little bit to late? your period is already over for weeks. They are already in the next phase.

Hi

I did not know that there're two phases for crowdsale.
So I seriously need my BTS back as soon as possible for my use.

Sorry rpckto, but all donations are final and have that has been stated since the beginning of what we have been doing. SoLCerts will be distributed in about a week and a half. You are able to trade on the open market as we go about putting together the KickStarter. The rest of the SOLCERTs will be locked up for a period of about 3-6 months as we go about our KickStarter. This was clear from the beginning. All donations NO REFUNDS.

Always read the fine print! Or this could happen to YOU. https://www.youtube.com/watch?v=sglZGSwK6ow

[crypto4ever]

Read the description on the video. It is an old video made at the end of 2014 when I believed a White Paper mattered.

I see.  The publish date of the video says "Published on Apr 21, 2016", my mistake.

I personally only heard about this in the last 2 days.  (Some how I miss these ICO opportunities until after they've begun).

I will continue to follow your progress. Good luck.

[SolomonSollarsNSense]

I scoured all over for the whitepaper that will talk about delivery mechanisms, but couldn't find anything.  There was a reference to "read the whitepaper" at the end of one of the videos, with no link in the youtube description.

All questions have been answered either by the current content or the FAQs page which can be found on the OP. I'm working. Regards.

Please link a reference to the whitepaper that was mentioned in the video that was released.  Where is the whitepaper? It's not found on your website as of today, nor in the OP.

You also answered every other part of my message with the exception of the whitepaper.

My guess is that the whitepaper hasn't been written yet, which means you are raising ICO donations before the whitepaper is released?  That's quite alarming.

If one exists, then my apologies, but please link to it asap, so we can have a technical reference of the design.

Surely the system design can be disclosed ahead of time before any actual program code is written?

Read the description on the video. It is an old video made at the end of 2014 when I believed a White Paper mattered. It does not today as we are marketing a product towards a mainstream audience. A KickStarter format is more appropriate and the necessary information will be provided for it. Including technical details that matter.

Bitshares is the blockchain we will be building on top of so I don't get your inquiry. Its open sourced. Sollars and Sense will be starting out as a UIA... Sollywood TV will be a closed source product. I made a post on BitcoinTalk that can be viewed recently. Hope this helps. Regards.

[crypto4ever]

I scoured all over for the whitepaper that will talk about delivery mechanisms, but couldn't find anything.  There was a reference to "read the whitepaper" at the end of one of the videos, with no link in the youtube description.

All questions have been answered either by the current content or the FAQs page which can be found on the OP. I'm working. Regards.

Please link a reference to the whitepaper that was mentioned in the video that was released.  Where is the whitepaper? It's not found on your website as of today, nor in the OP.

See 01 min, 47 secs in this video, which is still up as of May 1, 2016 at 2:19AM UTC

https://www.youtube.com/watch?v=mOVsfPstzJU

You also answered every other part of my message with the exception of the whitepaper.

My guess is that the whitepaper hasn't been written yet, which means you are raising ICO donations before the whitepaper is released?  That's quite alarming.

If one exists, then my apologies, but please link to it asap, so we can have a technical reference of the design.

Surely the system design can be disclosed ahead of time before any actual program code is written?

[Vizzini]

If anyone understands what a mammoth undertaking this is...  it's going to take a long time, a lot of money, and a lot of bumps in the road.

If I stood up and said my name is Gary, and I've got a project called Gollars and Gents, to revolutionize the airline industry. Please buy into my ICO, and I'll release the fine details later.  (Right now I just have overview and faq material out), you would all probably tell me to get lost.

Yep. That's a mammoth undertaking even before choosing a turn-off name. It sounds even worse with a "G", though -- not airlines, bad gay "Gents" porn, maybe? My name is Chris and I'm selling CONcerts for Collars and Cents -- wanna buy in? For 10 Cents, you can have 1 CONcert. If all goes well, you can trade it in for a collar (choose dog, cat, or human) in about 10 years. Is seems a sittle sit silly, son't sou sink?

[SolomonSollarsNSense]

I'll post the same questions here, that were not responded to at bitcointalk:

This project seems like an overly complicated take on micropayments to which the new currency, Sollars, adds very little (do you have any thoughts on this?).

Good answers to a few questions would help ameliorate my skepticism:

1) You seem to have no experience with any kind of tech startup or blockchain project. Do you bring anything other than marketing to this project?

2) Why should anyone give you/your organization 10-20% of the earnings from their films when this whole payment process could easily be entirely decentralized? What is that fee for and why should it not go to the content creators? In short, why do content creators need you at all?
 
3) You seem to be using terms "DAC" and "blockchain" as equivalents, which is not how I understand them. Could you clarify what you mean by DAC and how a DAC fits into your long term plan?
 
4) Your analogy to Uber is problematic. Anyone with a car can be a taxi driver via Uber. Not just anyone can create high quality media content. Making blockbuster TV shows and films takes massive teams of people and large upfront investments. It seems to me that the success of your project depends crucially on convincing wealthy producers that your system will make them more money than the system already in place. How will you do this?

I'm interested in hearing these answers too.  I scoured all over for the whitepaper that will talk about delivery mechanisms, but couldn't find anything.  There was a reference to "read the whitepaper" at the end of one of the videos, with no link in the youtube description.

If anyone understands what a mammoth undertaking this is...  it's going to take a long time, a lot of money, and a lot of bumps in the road.

If I stood up and said my name is Gary, and I've got a project called Gollars and Gents, to revolutionize the airline industry. Please buy into my ICO, and I'll release the fine details later.  (Right now I just have overview and faq material out), you would all probably tell me to get lost.

Crypto4Ever I'd like to see you try that. Start your own project called Gollars and Gents and see if people will buy into your ICO. I would like to see exactly what happens. Maybe you are just like me and can do exactly what I can do...

Or maybe not.

Everything in life is a mammoth undertaking. That's not new but it is the American way to take that risk and pursue it. And why we stand out from the rest of the world. I am honored that people donated to this project and believed in my ability. At the end that is what will make this project sink or swim.

All questions have been answered either by the current content or the FAQs page which can be found on the OP. I'm working. Regards.