iCEBREAKER
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Crypto is the separation of Power and State.
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July 19, 2015, 11:21:15 PM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
Heh, I love it when a plan comes together! Proposal: RPEX1. Beg, steal, or borrow TheKoziTwo's idle CN exchange code. 2. Host it on clear and/or dark web. 3. Use MPEX-style high membership fees and GPG rigmarole to ensure security and keep out unprofitable high-maintenance plebs. Maybe even stay private and invite-only. 4. Sell shares of the exchange on the exchange ( RPOE.s)
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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ArticMine
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Monero Core Team
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July 19, 2015, 11:32:29 PM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
Is the public listing of this company on a stock exchange something that may happen in the future? The reason I ask is that this could be attractive to people in Canada who wish to hold XMR in tax free or tax tax deferred accounts (TFSA, RRSP etc). Public companies tend to have 10s of millions (minimum) in assets, so with a global marketcap of 4 million, XMR funds who own a fraction of it are not likely to go public due to the administrative costs. I think in Estonia about $1 million companies can go public, because one of my companies was contemplating it when it was even smaller. TL;DR: Let's see So essntially 1 XMR = 10 USD and this could work. In particular if the company were to increase its XMR holdings somewhat in the interim.
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Calabi–Yau Manifold
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July 19, 2015, 11:34:46 PM |
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On august 6 this wedge closes. xmrchina always drops the date "august 8" Coincidence? We can easily pass lower highs line sooner than August 6 or 8.
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iCEBREAKER
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Crypto is the separation of Power and State.
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July 19, 2015, 11:44:53 PM |
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The global appeal of Monero is great which is why I have been so involved in trying to encourage translations into multiple languages while focusing primarily on my Chinese marketing plans behind the scenes.
I fully expect the type of plan rpietila is describing to be repeated in other parts of the world (perhaps first by individuals or small groups before companies like the one he mentions) in the months and years to come. Unfortunately buying 1% of XMR may not be as easy for those who wait too long based on the slowing emission schedule
Once everything is translated into Chinese, we can take advantage of Chinese translators' more economical rates for the rest of the world's languages! There should be an XMR powered service where you just upload a document, send some coins, and have as many translations as you want done in 48 hours. Hmm...Fiverr takes Bitcoins, has an API, and offers translations for everything... That reminds me, I nominate Korean to be next in line. Perfect demographic (save $, high tech, love new fads) for XMR.
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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futureofbitcoin
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July 19, 2015, 11:47:04 PM |
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The global appeal of Monero is great which is why I have been so involved in trying to encourage translations into multiple languages while focusing primarily on my Chinese marketing plans behind the scenes.
I fully expect the type of plan rpietila is describing to be repeated in other parts of the world (perhaps first by individuals or small groups before companies like the one he mentions) in the months and years to come. Unfortunately buying 1% of XMR may not be as easy for those who wait too long based on the slowing emission schedule
Once everything is translated into Chinese, we can take advantage of Chinese translators' more economical rates for the rest of the world's languages! There should be an XMR powered service where you just upload a document, send some coins, and have as many translations as you want done in 48 hours. Hmm...Fiverr takes Bitcoins, has an API, and offers translations for everything... That reminds me, I nominate Korean to be next in line. Perfect demographic (save $, high tech, love new fads) for XMR. I'd imagine the perfect demographic is a country with high GINI, very corrupt government/businesses, a lot of very rich people (possibly at the expense of even more poor people), high taxes, unstable government.
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RAJSALLIN
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July 19, 2015, 11:55:33 PM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
I don't understand why you make this information public. The smart thing to do would be to accumulate and then make it public.
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rpietila
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July 19, 2015, 11:59:43 PM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
Heh, I love it when a plan comes together! Proposal: RPEX1. Beg, steal, or borrow TheKoziTwo's idle CN exchange code. 2. Host it on clear and/or dark web. 3. Use MPEX-style high membership fees and GPG rigmarole to ensure security and keep out unprofitable high-maintenance plebs. Maybe even stay private and invite-only. 4. Sell shares of the exchange on the exchange ( RPOE.s) It is a regular, unregulated all-purpose business registered in Finland dating back to 2010, with no tax payable unless assets are sold, 2% tax on the aftermarket transactions on the company stock, and possible capital gains tax depending on your jurisdiction. We don't have a restriction on who can buy the stock, except that the deal must be private (may not be constantly advertised to unbounded number of people). To reduce hassle, minimum would be a few €k. If you don't have that, you are probably in the position to buy the coins directly and don't need this. Appreciate the proposal though
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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luigi1111
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July 20, 2015, 12:01:41 AM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
I don't understand why you make this information public. The smart thing to do would be to accumulate and then make it public. Sounds like they have accumulated a substantial amount already.
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RAJSALLIN
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July 20, 2015, 12:05:12 AM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
I don't understand why you make this information public. The smart thing to do would be to accumulate and then make it public. Sounds like they have accumulated a substantial amount already. Sounds like they want much more
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illodin
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July 20, 2015, 12:08:37 AM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
I don't understand why you make this information public. The smart thing to do would be to accumulate and then make it public. Well he already said the company won't be buying from the exchanges. Now who might own enough XMR and be someone the company already knows and trusts enough to do deals with. It's a good way for someone to sell at spot prices more than could be sold on the illiquid Poloniex markets. And now try to think who is the one that would profit from the announcement in that equation.
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RAJSALLIN
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July 20, 2015, 12:13:26 AM |
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Today the general meeting of a certain Finnish company that already owns about 1% of XMR outstanding, has decided to refocus the company's mission to be a Monero fund, with the objective of converting its BTC holdings to XMR, and issuing shares to select parties and use the proceeds to acquire more XMR.
I don't understand why you make this information public. The smart thing to do would be to accumulate and then make it public. Well he already said the company won't be buying from the exchanges. Now who might own enough XMR and be someone the company already knows and trusts enough to do deals with. It's a good way for someone to sell at spot prices more than could be sold on the illiquid Poloniex markets. And now try to think who is the one that would profit from the announcement in that equation. If the price on the exchanges increases so will the price OTC as well. Are you implying rpietila would be the seller and therefore benefit from an increase in price?
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rpietila
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July 20, 2015, 12:16:23 AM |
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I don't understand why you make this information public. The smart thing to do would be to accumulate and then make it public.
This company already has some XMR and it has so many BTC that it anyway takes months before they are all invested. In practice I would need to either withhold the information for months - and what is the point? - or just tell everything and start buying after the initial spike has abated. We are not in a hurry, we want as many XMR as possible, and it does not happen by being hasty. Remember I pre-announced this weeks before. The last time when this company bought its current position, I announced it would happen, and price went from 115k to 430k but hold your horses, we are prepared to take our time with the acquisitions and not push the price. It should be obvious to all that XMR has always had takers, and its destiny is moon, and if you don't buy, you are just playing with your financial future. Well he already said the company won't be buying from the exchanges.
Well this he never said. Correct interpretation is that we can buy and sell larger amounts than anyone in OTC, make good margins because we provide service that nobody else can, and use exchanges to replenish our position.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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rpietila
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July 20, 2015, 12:19:13 AM |
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It is OK if all that I say is interpreted crookedly. It just neutralizes the market reaction that might happen as a result of the believers buying, and anyway you should buy the rumor and sell the news don't they say so?
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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generalizethis
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Facts are more efficient than fud
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July 20, 2015, 12:29:06 AM |
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It is OK if all that I say is interpreted crookedly. It just neutralizes the market reaction that might happen as a result of the believers buying, and anyway you should buy the rumor and sell the news don't they say so?
You are one of the few people that have figured out that if you are honest and up front most people will go game theory with it and end up screwing themselves out of an opportunity.
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illodin
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July 20, 2015, 12:30:00 AM |
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It is OK if all that I say is interpreted crookedly.
Didn't you get the memo? Usually the most damning explanation imaginable is true until proven otherwise. And even then it still might be.
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kazuki49
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July 20, 2015, 12:35:01 AM |
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It should be obvious to all that XMR has always had takers, and its destiny is moon, and if you don't buy, you are just playing with your financial future.
yup, times like now with good development/enterprises news happening I like to thank the dumpsters, it was never really appropriate to just buy large quantities of XMR since large dumps happened constantly, where do people think this XMR went? But the time to buy is still in the present, for now.
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smooth (OP)
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July 20, 2015, 12:42:33 AM |
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It should be obvious to all that XMR has always had takers, and its destiny is moon, and if you don't buy, you are just playing with your financial future.
yup, times like now with good development/enterprises news happening I like to thank the dumpsters, it was never really appropriate to just buy large quantities of XMR since large dumps happened constantly, where do people think this XMR went? But the time to buy is still in the present, for now. Development news IMO is quite favorable. 1. There is now a dedicated funded developer who has a good track record. This fact further demonstrates the effectiveness and high subscription level of the crowdfunding system, which can continue to support development. 2. Tremendous delivery by Noodle Doodle on the database implementation being testing, debugged, benchmarked, and optimized into a production-ready solution that performs even better than the original in-memory version. This has gone from promises and rumors to working code in github. Development is only part of what drives price action but that part is very strong right now.
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hodlmybtc
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July 20, 2015, 12:44:09 AM |
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Probably a lot of people will try to frontrun the big buying.
I added in some near 0.0018 and a week ago, if we have a daily close above 0.0022 I'm converting most of my BTC left to XMR and probably also do some margin longs.
This could be the first big rally with margin trading which could be very volatile and possibly also very much upside capablities in $ terms because BTC is still cheaper now than in 2014.
If BTC continues to rally and go to new ATH's we might sit on a insane rocket about to take off now, near the end of the current (XMR) bear trend.
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iCEBREAKER
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Crypto is the separation of Power and State.
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July 20, 2015, 12:46:07 AM |
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That reminds me, I nominate Korean to be next in line. Perfect demographic (save $, high tech, love new fads) for XMR.
I'd imagine the perfect demographic is a country with high GINI, very corrupt government/businesses, a lot of very rich people (possibly at the expense of even more poor people), high taxes, unstable government. You mean like Ukraine, Venezuela, and Argentina? They are more technophobic and less homogenous than Korea. The elites are a different ethnicity than the rabble and the culture is conservative. In such places Bitcoin and gold are better choices. XMR is much riskier and its appeal lies in the 'cool factor' far more appreciated by affluent SE Asian technophiles than peasant farmers, drug lords, and struggling middle classes. People in chaotic situations don't have the risk capital for lottery tickets like Monero. This will change as XMR beings to snowball, and in spectacular ways enable the defections which Bitcoin alone cannot.
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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dnaleor
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Want privacy? Use Monero!
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July 20, 2015, 01:01:09 AM |
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coincidence or not, if we connect the downtrend with the latest "high", the wedge closes on august 8
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