One is from the beginning, the other 2 there is no reliable info.

EDIT: and don't you f-n think that I am any one of them.. 

Let's have it then.

My place is (in winter configuration - summer is much bigger) a small conference center with 28 beds. I live here, and to have a summit we only need to agree on the dates and there is a cost of lodging of course. After nearly a dozen conferences (including 6 in this place) attended by several people who have "at one time held 5% of the existing Bitcoins", I believe I can handle the practicalities with grace.

The price for a few days, all included, would be about 100 XMR. Organiser lead time about 3 weeks.

Let it be known that because of his persistent market commentary during the time when We have been absent,


has become a top-rated commenter in this thread, and also that the quality of the said comments has increased markedly,


have bestowed our favor on him,

and he is therefore invited to Our presence in Our castle, at any time mutually agreed, forthcoming in this autumn,


to the Monero Summit and Conference, planned to be organised before the years' end.

Seal.

Guesses were badly off. CKG has risen to 13 mil (+160%) and CON to 14 mil (+59%). Records of buyers and sellers are public.

... it seems that the rumors of CK death have been greatly exaggerated ...

in fact it just made a new ATH in aggregate market cap (EUR)

<--click me to see the image

HSH Dr. Paul Choo, Ph.D, TMA, Most August, Blessed and Cultured Prince of Soul, High Rector of TMA University, 4th/I & 17th/I Bt of CK, AOD-Col, OD-K, RT-K, etc(x2)

The Hypothecary Bank in CryptoTown, est. 1504, went to the pause with a 1.05 billion overdraft.


Bad idea  


=> Quite a load of CON and CKG are listed at midprice, so definitely worth taking if accumulation is in mind

EDIT: after a scant few hours, 0.95 bil ($7000) has been raised and there is no more need to sell.


Companies have a hard time in establishing valuations since many of them own CKG, CON, land, and other companies, and all of these are in a state of volatility. Expect company shares to get market making promptly nevertheless

Market started 18 minutes late. They are there now. If someone has bought/sold and there is a large gap between buy/sell prices, I will add more offers. Even better that you just add a bid yourself, we will certainly have many lurkers in both bid/ask side, and not everyone even knows that the markets are open!!

The Billboard shows MARKET OPEN now, so everyone knows it when they log in.

Soo excited!! 

The Royal Corporation of King' Coinshop and the Royal Mint announcement

Since we are not an admin, we cannot place the orders in advance as was planned.

But we announce that both HM02B100 and CON will have marketmaking with manually updated orders as the previous ones get taken or sold into.

In presence of a great uncertainty about the going prices, the marketmaking depth will be reduced in the beginning, so the price will move rapidly.

When the market reaches unanimity of the going prices, the depth will be added.

The initial midprices will be the same as the introduction prices of the items, namely:
* 50,000 m/CKG (1416)
* 8,800,000 m/CON (1605).

These are nothing but guesses as something must be guessed. Market will decide!

Markets will open at 3 pm. That is = 1:40 hours!


Treasury will open probably tomorrow. We have improved withdrawal security a lot meanwhile.

Everyone please make market commentary to this thread as if it was a Speculation thread. Let's fill it!

This is the most exciting day so far in the CK Marketplace (well perhaps after the day when CKG started trading = 2014-10-16).

I don't know how much he has (nor how much I do tbh).

That is 2400 hours. It equals about 15 months of full time work. And it has accrued over 4 years, even with some gaps of inactivity in between.

I will write some thoughts about everything, maybe. Or you can Ask Me Anything and I may answer.

If you don't know me, that is fine. I have been both one of the most productive members and the most hated. At the same time, of course.

Remembering Bitcoin in 2010, we can rise higher without meaningful pullbacks also. My personal belief is not that this is impossible, but that it is not the most probable scenario. To elaborate, I see the rest of the year as a die game where you pay a coin and receive something like:

4 coins on a "6"
2 coins on a "5"
0.5 coins on a "4"
0.5 coins on a "3"
0.5 coins on a "2"
0.5 coins on a "1"

It is possible to be same time +EV (positive expected value) and higher probability to lose than to win 

I don't know about the others, but I have repeatedly said it is a contrarian indicator. People sincerely believe what they vote on, but they have already acted according to their belief, ie. if someone is bullish, it does not mean he will buy, but he has already bought. Also being bearish does not mean in the process of selling, but waiting to buy lower.

Therefore, the potential for continued price appreciation exists when most are bearish and vote for low prices. When people vote for high prices, they are wishing for them but already bought.

Town Council is now in continuous working mode, having slack and IRC workrooms

We need to define the CEO deal well to maximize success. Every team member is very important! We can even use a consultant to help in the process. But hopefully the initial definition will be ready today 

  I will promise to post a pic in the Billboard when we get the market open for real. 

Due to several small things market opening is postponed till tomorrow.

Shame that we don't have the tokens listed in exchanges now. Betting live on the valuation of CK in its critical junction is waaay more fun than pumping some unchanging and valueless altcoin!!! 

Gamemaster (GM) is the head of admins when the game proceeds normally. In special situations like now (the time and market is paused), GM is the one to practically execute Town Council decisions concerning changes in game state and operation. GM is of course me, currently, but that will change soon when the TC rolls out its plan for new recruiting.

The plan is to find a CEO to steer the whole CK project, enabling me to concentrate on the game. We seek to pay her $70-$130k a year (figure includes perks). In return we get an enthusiastic professional.

Town finances need to be organised, because it is likely that both CKG and CON get smashed when the markets open (because the pricing currency, M, has appreciated by 5x while the game has been paused). CON entitles to a fixed payment of M, and in the case that the game goes on, it can be honored. If not, then not. It is nevertheless possible that the Council will propose something to decrease the Town burden.

Also in connection with the new CEO, new funding is needed to ensure a smooth transition. About $100k is the figure.

We also talked about the seniority of CKG/CON in the edge cases. My interpretation (which is subject to overruling by TC, who are selected by gold owners) is:
* CON is senior to CKG in dividends. CON dividend may not be reduced from its fixed value or delayed. The loophole concerning the rate of passage of time exists, but its use will cause loss of confidence. The only limitation concerning CKG dividend, is that it may not be negative. It has often been zero.
* CKG is senior to CON in voting rights. As long as the CON dividends have been paid, the CON holders do not have a direct influence on Town finances. The Town finances are an intricate web of pools that collectively contain $120k worth of M. Seldom if ever has the Town possessed several years' worth of un-earmarked liquidity to pay its expenditure, including CON dividends. Now it does, and when the game resumes, it will also get incomes in addition to the $120k in possession and the $100k to be raised. Therefore the comparison of Town funds and CON dividends fails in at least 3 counts: A)The Town funds are only partly intended for CON; B)Town has income and has managed previous situations; C)The dividends go back to the economy. What actually matters is the balance of deposits/withdrawals.

If it so happens that the game time is resumed, and the Town cannot subsequently pay the CON dividends, the default procedure is as follows:
* CKG loses the dividend and voting rights, becoming a limited-quantity luxury/collectible resource.
* CON holders will get 1 vote per CON, from where they can appoint the Council and continue the game as they wish. This is considered a default for the 1st Town Corporation, but it need not affect the game more than the CON holders decide. (It is likely that the CON holders will redefine CON to have  a variable dividend as they are unable to pay a fixed dividend to themselves anyway. CON would effectively take the place of CKG.)

Resuming the time requires an itemised action plan by the TC, and finding the CEO and other things mentioned.



All bids and asks will be cleared first because of the pleasure that XMR/M price has raised 505% during our pause so far.

The reasoning for opening of the markets was elaborated in a previous post. Enabling deposit/withdrawal and repricing caused by the rise of M.

I will provide marketmaking to some extent, based on what is expected. While being GM,King etc and still in a decisive position concerning the future of the game, I do not engage in price speculation myself. Others may certainly find bargains so blanket bids may net nice goods.

The game needs more concentration of ownership, because that brings commitment. I encourage everyone to think of the opportunity to corner CKG and CON, cheaply with the windfall XMR. I will also donate gold to those who buy the most.

Collectibles will be valued based on market as always.

Items such as SCI, WP etc should retain their value in fiat (ie. about 15% of the pre-pause value) because TC adjusts their generation price and has historically followed fiat pricing.

The situation with the game is still open. Town Council has not yet drafted the action plan, and when it is ready, it may get rejected (if consensus is needed), or fail in execution. Also possible is that the plan succeeds brilliantly, more than making up the sudden surge of XMR. It is worth repeating that this game was intended to grow faster than XMR to be able to help XMR. This of course was true for the first 2 years in the game, as XMR was stalling and CK increased 20x in value. This is still the plan.

Because of the above, the risk to invest in CK assets is big, and consequently the price is reasonable, and the upside is very large. The XMR community has swollen beyond bounds in the last weeks, which can be positive for CK.

M balances are secured in all scenarios.

Happy trading!

Meeting lasted for 3:10 hours (plus before and after meetings). Decisions:

- Town Council working group will consist of:
* HH The Mayor Sirjacket
* HM The King
* Sir kronicblazer
* Sir Crichton
* Sir luigi1111
* Sir Mooo
* Dame Roopatra (in no particular order)

It is likely that Election will take place soon to reduce the number to 6, as defined by the rules.


- Markets will open as soon as possible, with existing bids/asks cleared.


Discussion log is probably available from someone.

Further things came to my mind as we prepare for the meeting:

* After hesitating for a while, I now support opening the Changelog again for trading. This also enables deposits and withdrawals, which require both saddam and changelog to be active. I do not support hastily starting the game.
(The hesitation was because there is an inordinately large insider trading possibility, which would put me in a position that I cannot win, because I would be accused of insider info/forcing the result, regardless of whether I trade or don't and what happens, and whether I supported it or not. Then I woke up and realised the game is not about just me any more, and everyone needs to get used to it. Also other people speculating with money, instead of concentrating on human resources felt needless. But speculating is still so fun, and provides real-time information to the decision makers, and people have right to deposit/withdraw - which cannot be done without changelog open - so I now support opening it.)

* The game finances are easier to analyse when the ingame items have reached some valuation. Before resuming trading, there are some things to do. Trading will be resumed today based on the decisions of the general meeting / Town Council / gamemaster (if they support). Negative balances will be searched and withdrawals checked that they are not connected to negative balances held by the other characters of the owner.

* To go on in any incarnation, the game needs a CEO. I have done that position as a side job for 2 years and criticism has mounted, due to me having too many roles. There is no question whether we need new blood now. Some thought we needed it long time ago, I objected, and luckily now we have the financial resources to make it happen, unlike back then.

* There are other full and part time roles to fulfil, but finding the CEO takes priority as he will organise them. I will thrive as game designer rather, and also the design will be better when it is possible to concentrate on that.

* I am very happy that the community is activated. This I see as the most important prerequisite for moving on with the game.

* Please consider if you could lead any of the corporations I started in the last years before the pause. They are important for the game economy, but the intention is not that I would pull all the strings, quite the contrary actually.

* It is possible to fork the game because it is open source. I cannot personally support any such action however. I have brought many friends to play and support the game, and defrauding them or anyone is not in my toolbox. Equally important is that the future generations of players understand that our rules hold. Especially the CON-issue is a (longterm) non-issue, only relevant now because XMR has grown faster than CK. Assuming this will be the case in the future is shortsighted. (By this I don't mean that we should not address it.)

* If promising new team members are found to take the game on, I will be ready to assist them with CKG. There is also some gold in the Coinshop, which could be opened to help if ingame value is needed to reach some deals.

* New value comes to the game via deposits of XMR, which allocate themselves to CKG, CON, land and item purchases, causing their value to go up, and enriching the sellers, who in turn buy other assets and pay taxes. Town receives the taxes, and is the initial seller in some of the assets as well. For a viable game, it is important that there is a steady inflow of XMR.
(The recent surge in price will cause an outflow with currently uncertain magnitude. Historically, the USD value of saddam's depository has been about $50k. We now have $700k worth of XMR in the depository, so it is not a catastrophe even if the size declines short-term, as long as the long-term direction is up.)