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Author Topic: BAMSTORM.us dual-coin fundraiser  (Read 1869 times)
Lee_Ding_Duc
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November 18, 2014, 09:45:35 PM
 #1

Introducing BAMSTORM.us


Bamstorm is a dual-coin system (BAM and Storm Dollar) sponsored by the Tax Free Society, looking to raise 50 BTC for coin launch and marketing. The fundraiser has two stages: Coin Launch (Early Bird) and Marketing (Balance).

The first 12 BTC is the EARLY BIRD Stage. The coin will be launched shortly after that 12 BTC is raised (officially within 60 days per the rules, but likely less) The definition of the Storm Dollar will also be revealed upon launch.

If you do not like Storm Dollar, and what it represents, you will be able to get a refund based on contributions from the SECOND Stage (the last 12 BTC raised). This  reduces your risk and gives you an option. Most likely, you'll be happy. There are several bonuses for supporting development: early bird, biggest giver, founder's bonus, and the bamstorms.  


Bamstorm.US follows this marketing vision here, though a few adjustments have been made:
 

https://bitcointalk.org/index.php?topic=741774.msg8382403#msg8382403


This effort isn’t trying to "steal" existing Bitcoin users, but to penetrate the millions of people who want coins that are EASY and FREE to get, but also have REAL value. That might sound like a paradox, but that's what we've solved. That's good for BTC in the long run.

A dual-coin system is easier for people to understand with a simple picture. Have a look at

Bamstorm.US

See how BAM gets its initial value and whether it fits in your portfolio.
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November 18, 2014, 10:38:33 PM
 #2

It's tenuous but ingenious to peg dollar value of BAM by allowing the greatest initial donator to choose between the $25k statue or 500k BAM.

But art pieces are extremely illiquid and their value is subjective. Ideally you'd have $25000 worth of physical gold to offer, for a stronger peg. However I understand that for this to work, the biggest donor HAS to choose the BAM, not the statue. It's part of your strategy to offer something illiquid, to communicate value but conveniently leave out the hidden cost or devaluation of a subjective, illiquid art piece. I still think you'd need to offer something equally illiquid, but of more solid objective value. (There are also corollary problems, like appraisal and guarantee of the statue's authenticity, transferring it to the buyer *should* it be chosen, guaranteed impartiality of the biggest winner, the biggest winner holding your concept for ransom "give me 2,000,000 BAM and 50% of all Storm or I'll choose the statue", etc.)

The distribution, properly marketed, will work great. Even better if each new user can receive their share to a mobile wallet advertised on a major app store.

Secondly, you can't keep BAM from trading on the open marketplace. At this level of multiplicative profits, there is a HUGE incentive for any closed wallet to be hacked and BAM to be traded on an exchange for values much lower than the 5-cent peg. Exchanges will list it, it will trade for lower than the peg, and the market will establish its own value. How will you convince a huge distribution of holders to all collude and hold together when the incentive to be the first to dump is so strong?

I really like the ambition behind this concept, but there is a whole lot that can go wrong. I suppose that is the nature of risk in these new crypto concepts, and behind any investment, but it makes the risk evaluation challenging.

These were my thoughts on reading your proposal. What are yours?

Lee_Ding_Duc
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November 19, 2014, 05:43:04 PM
 #3

Thanks for your comment.

My main reason for declaring it closed to outside trading is to protect the coin from the coming NYS regulations. If you notice, there is a loophole, in Bitcoin czar Lawsky's NYS regulations, where you are not a money-changer, if your exchange doesn't involve direct fiat dollars. So, that's the reason for it.

Most people don't want to be reported to the government, and I don't want to collect their information. People may prefer a closed system over one tainted with fiats. The cost of fiat trading might not be worth it to them.

So, while it can't be prevented, I think by taking a stand against it early will protect BAM users generally. One way to prevent it would be to issue a user license "users agree not to trade BAM on fiat exchanges, until legal dangers subside."

The issue of deal value isn't affected by any change in the value of a statue. For example, if I bought 1/10th of your company for $1 million, the deal value of your company is $10 million, and it doesn't change even if the dollar falls in terms of the yen, gold, or oil. Deal value and pegging aren't the same things. Deal value is an instant in time; pegging is continuous and much harder to keep up.

The real value is in storm. Storm will "buy" BAM in effect as people trade up their BAM for Storm.
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November 26, 2014, 01:44:06 PM
 #4

THANKSGIVING DAY BONUS BAM

Well, it seems there is a lack of interest in Bamstorm.US

No contributions.

May have to cancel this.

On the other hand, let's see ....

Anyone who contributes between now and Thanksgiving Day and Black Friday will split 500,000 Thanksgiving Bonus BAM.

Since Bitcoin has topped out and now faces legal problems that will limit its effort to mainstream (because no one wants to give their info to .gov, a system that does not require that will have a competitive advantage, i.e. Bamstorm.us)

If I had to guess where bitcoin is going, based only on that, NYS bitcoin regulations that have smothered its ability to mainstream and thus hit its old high. It's now a expiring option.

On the other hand, if you divide a bitcoin by some quantity (.1 or .05) and multiply by some bonus factor (20, 30 etc.) , you get an instant upgrade in value based on the future deal value of BAM (being 5 cents).

Where can you get that?

Get your Thanksgiving bonus BAM while you can!

P.S. if anyone loans BTC, and is willing to accept payment out of the fundraiser, we can fund this baby now. Just need to raise 12 BTC.
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November 26, 2014, 02:03:24 PM
 #5

Hey dev, don't kill this coin due to lack of interest now. If you wait until bitcoin regulation looms a little larger, and spend some time revising your ANN with some professional graphics, coin branding, and simplified presentation of your idea, I think you'll get more bites.

The idea alone won't sell it, as you have seen.

THANKSGIVING DAY BONUS BAM

Well, it seems there is a lack of interest in Bamstorm.US

No contributions.

May have to cancel this.

On the other hand, let's see ....

Anyone who contributes between now and Thanksgiving Day and Black Friday will split 500,000 Thanksgiving Bonus BAM.

Since Bitcoin has topped out and now faces legal problems that will limit its effort to mainstream (because no one wants to give their info to .gov, a system that does not require that will have a competitive advantage, i.e. Bamstorm.us)

If I had to guess where bitcoin is going, based only on that, NYS bitcoin regulations that have smothered its ability to mainstream and thus hit its old high. It's now a expiring option.

On the other hand, if you divide a bitcoin by some quantity (.1 or .05) and multiply by some bonus factor (20, 30 etc.) , you get an instant upgrade in value based on the future deal value of BAM (being 5 cents).

Where can you get that?

Get your Thanksgiving bonus BAM while you can!

P.S. if anyone loans BTC, and is willing to accept payment out of the fundraiser, we can fund this baby now. Just need to raise 12 BTC.


Lee_Ding_Duc
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November 26, 2014, 03:06:30 PM
 #6

Thanks for your encouragement and advice.

What does ANN stand for?

Lee_Ding_Duc
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December 13, 2014, 03:38:39 PM
 #7

Need to raise 12 BTC for developer and launch the coin. Haven't given up.

500,000 Christmas Bonus BAM for all contributions between now and Christmas.

If you divide a bitcoin by some quantity (.1 or .05) and multiply by a bonus factor (20), you get an instant upgrade in value based on the future deal value of BAM (being 5 cents), as described.

For the same increase in value, BTC would have to go 350  x 20 = $7000. It may happen...but not before Christmas! 

If anyone could loan 12 BTC (or parts of it), for 500,000 BAM as "interest," and is willing to accept payment out of the fundraiser, as it comes in, we can fund this coin now.  I'm pretty sure, once it launches, the BTC will come in.

Just need to raise 12 BTC.

Any other fundraising ideas are welcome.

I have these oil paintings. The women in columns is 1m x 1.5m. Quiet impressive.

http://profilesinprofit.com/index.php/profiles/hugo-lopez-rodr/
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