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hazryder
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July 20, 2013, 01:13:54 AM |
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Wait a minute. Didn't this SNAFU happen with the original IPO for AMC with the original shares going for 0.0005, rising to 0.0008, and then a bunch of shares being dumped at 0.0005 again?
Yeah basically people don't read contracts and get all pissy when an asset issuer exercises their rights that are rather explicitly explained within said contract. All water under the bridge now though...or at least that's what you'd think. ha. Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. |
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lolstate
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July 20, 2013, 01:17:59 AM |
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To put it shortly, I've got high hopes for the company and want to improve its online graphic presence, how do I get in contact with Ken?
Cheers!
PM him. He does reply  I think a few people have offered to help on this front so hopefully someone will get to do it. I've just messaged him now, hopefully I'll hear back soon. I actually did some logo work for Litecoin that you can find on the official litecoin.org site so hopefully that will put me in good stead. I'm not looking to suck thousands of dollars out of the guy, ramen money and something to add to my portfolio for later life will be enough of a reward. Was it your concept for the semi-transparent card with the Litecoin logo? |
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ArcticWolf
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July 20, 2013, 01:19:26 AM |
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Wait a minute. Didn't this SNAFU happen with the original IPO for AMC with the original shares going for 0.0005, rising to 0.0008, and then a bunch of shares being dumped at 0.0005 again?
Yeah basically people don't read contracts and get all pissy when an asset issuer exercises their rights that are rather explicitly explained within said contract. All water under the bridge now though...or at least that's what you'd think. ha. Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. Again, Ken wanted to release at market price, but the contract stated that the second lot of shares would be released at 0.0005. He was contractually obligated to release at 0.0005. Investors got upset because they didnt read the contract. |
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canuck
Member
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Activity: 116
Merit: 10
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July 20, 2013, 01:21:53 AM |
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Wait a minute. Didn't this SNAFU happen with the original IPO for AMC with the original shares going for 0.0005, rising to 0.0008, and then a bunch of shares being dumped at 0.0005 again?
Yeah basically people don't read contracts and get all pissy when an asset issuer exercises their rights that are rather explicitly explained within said contract. All water under the bridge now though...or at least that's what you'd think. ha. Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. Again, Ken wanted to release at market price, but the contract stated that the second lot of shares would be released at 0.0005. He was contractually obligated to release at 0.0005. Investors got upset because they didnt read the contract. He wasn't contractually obligated to release at .0005; he was contractually obligated to release at no less than 0.0005 when the AMC structure was in place. That Bitfunder took such a heavy hand with Ken only made things worse. It's frustrating to see the peanut gallery actually hold any sway in such matters and worse still to see that their caterwauling achieved anything. |
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lolstate
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July 20, 2013, 01:23:19 AM |
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Wait a minute. Didn't this SNAFU happen with the original IPO for AMC with the original shares going for 0.0005, rising to 0.0008, and then a bunch of shares being dumped at 0.0005 again?
Yeah basically people don't read contracts and get all pissy when an asset issuer exercises their rights that are rather explicitly explained within said contract. All water under the bridge now though...or at least that's what you'd think. ha. Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. Again, Ken wanted to release at market price, but the contract stated that the second lot of shares would be released at 0.0005. He was contractually obligated to release at 0.0005. Investors got upset because they didnt read the contract. He wasn't contractually obligated to release at .0005; he was contractually obligated to release at no less than 0.0005 when the AMC structure was in place. That Bitfunder took such a heavy hand with Ken only made things worse. It's frustrating to see the peanut gallery actually hold any sway in such matters and worse still to see that their caterwauling achieved anything. Ya, that was my take, too. |
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hazryder
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July 20, 2013, 01:24:04 AM |
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To put it shortly, I've got high hopes for the company and want to improve its online graphic presence, how do I get in contact with Ken?
Cheers!
PM him. He does reply I think a few people have offered to help on this front so hopefully someone will get to do it. I've just messaged him now, hopefully I'll hear back soon. I actually did some logo work for Litecoin that you can find on the Litecoin wiki so hopefully that will put me in good stead. I'm not looking to suck thousands of dollars out of the guy, ramen money and something to add to my portfolio for later life will be enough of a reward. Was it your concept for the semi-transparent card with the Litecoin logo? The transparent card was just a mockup I used to show one example of how the graphic could be used in a real world situation, but yeah, that was me. I'm also in negotiations with the Litecoin dev team now about possibly redesigning their official logo which suffers from the same slightly out-dated look as the VMC logo. |
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lolstate
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July 20, 2013, 01:27:00 AM |
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To put it shortly, I've got high hopes for the company and want to improve its online graphic presence, how do I get in contact with Ken?
Cheers!
PM him. He does reply I think a few people have offered to help on this front so hopefully someone will get to do it. I've just messaged him now, hopefully I'll hear back soon. I actually did some logo work for Litecoin that you can find on the Litecoin wiki so hopefully that will put me in good stead. I'm not looking to suck thousands of dollars out of the guy, ramen money and something to add to my portfolio for later life will be enough of a reward. Was it your concept for the semi-transparent card with the Litecoin logo? The transparent card was just a mockup I used to show one example of how the graphic could be used in a real world situation, but yeah, that was me. I'm also in negotiations with the Litecoin dev team now about possibly redesigning their official logo which suffers from the same slightly out-dated look as the VMC logo. PM me with your email. I have some design work I need done in ~4-5 weeks or so. |
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dexX7
Legendary
Offline
Activity: 1106
Merit: 1024
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July 20, 2013, 02:05:00 AM |
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Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. It's loss/loss now, as this would hurt those who sold after his announcement of new shares on the weekend at 0.0025. Anyway, let's move forward and improve next time. Great (smallish) portfolio by the way. |
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matuszed
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July 20, 2013, 02:10:12 AM |
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Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. It's loss/loss now, as this would hurt those who sold after his announcement of new shares on the weekend at 0.0025. Anyway, let's move forward and improve next time. Great (smallish) portfolio by the way. +1 Trading is always a net sum zero game, someone's always on the other side. |
"Markets can remain irrational longer than you can remain solvent." -Keynes
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hazryder
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July 20, 2013, 02:11:09 AM |
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Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. It's loss/loss now, as this would hurt those who sold after his announcement of new shares on the weekend at 0.0025. Anyway, let's move forward and improve next time. Great (smallish) portfolio by the way. Very true, in the scale of things to (hopefully) come, people will be able to overlook this blip. And thanks, I'm hoping to expand upon it over the coming months with cryptocurrency centered work. It's the currency for the 21st century and beyond, it needs to be looking fresh! |
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VolanicEruptor
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July 20, 2013, 02:13:59 AM |
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Just because you can do something doesn't mean you should do it. Hopefully Ken will reconsider listing these new shares, or at least list them at a higher price (0.0028) to make up for all the people who bought at 26 or 27 thinking that the 25 wall was done for good. It's loss/loss now, as this would hurt those who sold after his announcement of new shares on the weekend at 0.0025. Anyway, let's move forward and improve next time. Great (smallish) portfolio by the way. +1 Trading is always a net sum zero game, someone's always on the other side. Unless there's dividends.  |
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ArcticWolf
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July 20, 2013, 02:15:25 AM |
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Ken, you still have not answered one very important question. Why did you release more shares and undercut the market?
He has already done so and promised to do it again: I will be posting 400,000 shares on BTC-TC @ .0025 and 100,000 shares on bitfunder @ .0025 sometime this weekend after the market has time to breath from the resent sales.
Where in there do you see the answer to the question 'Why'? I was just pointing out that he had done so and also planned to do it again. Apparently he released some at 0.0028 and after those sold, he came back hours later and said he would release more at 0.0025. Awesome, right? Investors should feel confident, confident that he will undercut them again and again and again. FUD not welcome |
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hazryder
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July 20, 2013, 02:18:32 AM |
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Ken, you still have not answered one very important question. Why did you release more shares and undercut the market?
He has already done so and promised to do it again: I will be posting 400,000 shares on BTC-TC @ .0025 and 100,000 shares on bitfunder @ .0025 sometime this weekend after the market has time to breath from the resent sales.
Where in there do you see the answer to the question 'Why'? I was just pointing out that he had done so and also planned to do it again. Apparently he released some at 0.0028 and after those sold, he came back hours later and said he would release more at 0.0025. Awesome, right? Investors should feel confident, confident that he will undercut them again and again and again. FUD not welcome Out of the blue question but what was FUD stand for in this context? I've seen it used several times in this and other threads recently. |
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matuszed
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July 20, 2013, 02:19:15 AM |
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Ken, you still have not answered one very important question. Why did you release more shares and undercut the market?
He has already done so and promised to do it again: I will be posting 400,000 shares on BTC-TC @ .0025 and 100,000 shares on bitfunder @ .0025 sometime this weekend after the market has time to breath from the resent sales.
Where in there do you see the answer to the question 'Why'? I was just pointing out that he had done so and also planned to do it again. Apparently he released some at 0.0028 and after those sold, he came back hours later and said he would release more at 0.0025. Awesome, right? Investors should feel confident, confident that he will undercut them again and again and again. FUD not welcome Out of the blue question but what was FUD stand for in this context? I've seen it used several times in this and other threads recently. Fear Uncertainty and Doubt |
"Markets can remain irrational longer than you can remain solvent." -Keynes
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hazryder
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July 20, 2013, 02:25:04 AM |
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Ken, you still have not answered one very important question. Why did you release more shares and undercut the market?
He has already done so and promised to do it again: I will be posting 400,000 shares on BTC-TC @ .0025 and 100,000 shares on bitfunder @ .0025 sometime this weekend after the market has time to breath from the resent sales.
Where in there do you see the answer to the question 'Why'? I was just pointing out that he had done so and also planned to do it again. Apparently he released some at 0.0028 and after those sold, he came back hours later and said he would release more at 0.0025. Awesome, right? Investors should feel confident, confident that he will undercut them again and again and again. FUD not welcome Out of the blue question but what was FUD stand for in this context? I've seen it used several times in this and other threads recently. Fear Uncertainty and Doubt Much appreciated, the only other time I've seen it used was for less than legitimate means as Fully UnDetectable. |
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redbeans2012
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July 20, 2013, 02:25:21 AM |
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I'm a new investor but I have to cut him some slack. Its probably pretty stressful trying to raise enough funds especially with a volatile bitcoin price. Once we are over this original funding hump it will probably be alot smoother ride.
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dhenson
Legendary
Offline
Activity: 994
Merit: 1000
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July 20, 2013, 02:26:26 AM |
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Out of the blue question but what was FUD stand for in this context? I've seen it used several times in this and other threads recently.
You have to remember that a lot of people spread rumors and lies for the sole purpose of making a stock/bond price move in the direction that benefits them. Generally, they are looking to buy at a cheaper price so they start spreading B.S. rumors otherwise known as FUD (fear uncertainty and doubt). You have to assume that almost everything you read on this forum is meant to steer investors one way or the other. |
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ArcticWolf
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July 20, 2013, 02:27:26 AM |
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Ken, you still have not answered one very important question. Why did you release more shares and undercut the market?
He has already done so and promised to do it again: I will be posting 400,000 shares on BTC-TC @ .0025 and 100,000 shares on bitfunder @ .0025 sometime this weekend after the market has time to breath from the resent sales.
Where in there do you see the answer to the question 'Why'? I was just pointing out that he had done so and also planned to do it again. Apparently he released some at 0.0028 and after those sold, he came back hours later and said he would release more at 0.0025. Awesome, right? Investors should feel confident, confident that he will undercut them again and again and again. That statement right there is the textbook definition of FUD. |
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matuszed
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July 20, 2013, 02:27:51 AM |
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I'm a new investor but I have to cut him some slack. Its probably pretty stressful trying to raise enough funds especially with a volatile bitcoin price. Once we are over this original funding hump it will probably be alot smoother ride.
This is pretty much why the real world equity ipo's do a roadshow sell most of the shares beforehand and have a smooth ipo, unless you're fb. But the bottom line is there's a reason that investment banks get a huge % of the company for bringing it public it's not an easy task to price an asset correctly for an ipo. Now make your asset have a cash flow in BTC and the vol is going to be through the roof. |
"Markets can remain irrational longer than you can remain solvent." -Keynes
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ArcticWolf
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July 20, 2013, 02:34:38 AM |
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Ken, you still have not answered one very important question. Why did you release more shares and undercut the market?
He has already done so and promised to do it again: I will be posting 400,000 shares on BTC-TC @ .0025 and 100,000 shares on bitfunder @ .0025 sometime this weekend after the market has time to breath from the resent sales.
Where in there do you see the answer to the question 'Why'? I was just pointing out that he had done so and also planned to do it again. Apparently he released some at 0.0028 and after those sold, he came back hours later and said he would release more at 0.0025. Awesome, right? Investors should feel confident, confident that he will undercut them again and again and again. That statement right there is the textbook definition of FUD. But sadly, this is exactly what has happened and will happen. I am not making it up, therefore, not FUD. Unless you have a crystal ball or a time machine you are making it up. |
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